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Kanye West’s billionaire status is erased after Adidas nixes deal

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The musician is no longer a member of the ten-digit club following his antisemitic remarks

On Tuesday, Forbes confirmed that Ye has lost his billionaire status as multiple companies are distancing themselves from the rapper, who has won 24 Grammy Awards.

The Adidas deal helped make Ye a billionaire and aided the German sportswear company in having a more edgy appeal.

However, the collaboration could not survive the recent outcry over the rapper’s offensive and antisemitic remarks.

In making the decision to immediately stop production of its line of Yeezy products and stop payments to Ye and his companies— Adidas says it expects to take a hit of up to $246 million to its net income for 2022.

Forbes estimated that Adidas accounted for $1.5 billion of Ye’s net worth effectively kicking him out of the ten-digit club.

The split-up comes on the heels of Gap Inc. announcing in September it would dissolve their partnership with West.

Additionally, according to reports, the talent agency CAA has dropped West as a client.

Veronica Dudo is the U.S. Correspondent for Ticker News covering America’s biggest headlines. As an Emmy® Award nominated global journalist, Veronica has traveled across the country and around the world reporting on historical events that connect all citizens. Lauded as an award-winning international journalist, Veronica has executed stellar news coverage for NBC News, CBS News, The Hill, ME-TV Network and AOL. Her stories have highlighted a plethora of topics ranging from breaking news and politics to economic affairs across the USA, European Union, and Asia; cultural affairs; globalization; governance; education; and sustainability.

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Markets brace for pivotal week following renewed US-China trade talks

Global markets brace for US-China trade talks, earnings, and inflation data impacting investor sentiment and central bank outlook.

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Global markets brace for US-China trade talks, earnings, and inflation data impacting investor sentiment and central bank outlook.


Global markets prepare for a critical week as US–China trade talks, major earnings, and inflation data could shift investor sentiment and central bank expectations.

Kyle Rodda from Capital.com breaks down the key risks and opportunities.

#GlobalMarkets #USChinaTrade #Inflation #EarningsSeason #Investing #FederalReserve #AUD #Tesla #Netflix #MarketUpdate


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Global markets steady ahead of CPI

Global equities stay strong near record highs as investors await US CPI data to assess central bank decisions.

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Global equities stay strong near record highs as investors await US CPI data to assess central bank decisions.


Global equities remain resilient, with Wall Street, Europe, and Asia near record highs as investors eye Friday’s US CPI data to gauge central bank moves.

Market watchers note cautious optimism amid ongoing volatility.

#GlobalMarkets #CPI #WallStreet #Equities #Investing #CentralBanks #RBA #Fed #USMarkets #MarketUpdate


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US sanctions Russia’s top oil giants

US sanctions on Rosneft and Lukoil aim to pressure Moscow amid oil price surges; impact depends on enforcement.

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US sanctions on Rosneft and Lukoil aim to pressure Moscow amid oil price surges; impact depends on enforcement.


The US has imposed new sanctions on Rosneft and Lukoil, aligning with Europe to pressure Moscow amid rising oil prices and global market tensions.

Analysts warn the real impact will hinge on enforcement and international response.

#Russia #USSanctions #Rosneft #Lukoil #OilMarkets #Geopolitics #EnergyCrisis #DonaldTrump #EU #GlobalTrade #Moscow


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