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☆ How Putin's Russian goon squad used Mexican gig workers to troll an American election
▼ + stars: | 2023-02-18 | by ( Mattathias Schwartz | ) www.businessinsider.com time to read: +25 min

Posting to social media sounded like an easy work-from-home gig, so he applied. This post from the Prigozhin-backed Social CMS network in Mexico referred to America as "we." He verified his account by providing chat transcripts, screenshots, contracts, and internal company documents. But just because Social CMS didn't yield an immediate, large-scale impact doesn't mean it should be ignored. "I didn't know who are you," wrote the person who is listed in the corporate directory as Prigozhin's media liaison.

☆ Moody's cuts Adidas credit rating to A3 after profit warning
▼ + stars: | 2023-02-17 | by ( ) www.reuters.com time to read: +1 min

Feb 17 (Reuters) - Moody's on Friday dowgraded Adidas' (ADSGn.DE) long-term issuer rating one notch to A3 from A2, citing the sportswear maker's recent profit warning, and left the door open to a further cut as it maintained a negative outlook on the company. Adidas warned on Feb. 9 that it could plunge to a loss this year for the first time in three decades, in the latest downgrade triggered by its split from Kanye West, as it raised the possibility of entirely writing off the inventory of the rapper and fashion designer's Yeezy brand. Moody's said that even though it had expected a weak operating performance from Adidas in the next 12 to 18 months, its actual guidance was "well below Moody's expectations." While it described the company's new outlook as conservative and noted its leading position in the global sportswear industry and strong brand, Moody's said its negative outlook reflected "the substantial uncertainty around the near-term improvements of adidas' credit metrics and liquidity profile following the release of a very weak earnings guidance for 2023." ($1 = 0.9373 euros)Reporting by Tristan Chabba in Gdansk Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

☆ Former CNN anchor Chris Cuomo: 'I was going to kill everybody and myself' after firing
▼ + stars: | 2023-02-15 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Former CNN anchor Chris Cuomo spoke on Anthony Scaramucci's podcast "Open Book" on Wednesday. During the episode, Cuomo said he was "going to kill everybody and myself" after CNN fired him. On an episode of Anthony Scaramucci's podcast, Open Book, on Wednesday, Cuomo admitted that he was so upset after he was cut that he felt like he "was going to kill everybody including myself." Cuomo was fired from CNN in 2021 amid revelations that he helped his brother — former New York Gov. While he may not have the viewership he had at CNN, Cuomo told Scaramucci that he's "trying to have a broader aperture on what matters."

☆ Trump just tried to pick another fight with Rihanna, saying the pop icon had the 'single worst' Super Bowl halftime show in history
▼ + stars: | 2023-02-13 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +2 min

Donald Trump flung another insult at Rihanna after her performance at the Super Bowl on Sunday. Trump wrote that Rihanna gave "the single worst Halftime Show in Super Bowl history." This is the second time in a week that Trump has tried to pick a fight with Rihanna. "EPIC FAIL: Rihanna gave, without question, the single worst Halftime Show in Super Bowl history," Trump wrote on Truth Social on Sunday. Trump also criticized Rihanna's fashion choices at the Super Bowl, writing: "Also, so much for her 'Stylist!'"

☆ Adidas is facing a problem even bigger than Yeezy
▼ + stars: | 2023-02-13 | by ( Danni Santana | Mary Hanbury | ) www.businessinsider.com time to read: +5 min

Adidas expects sales to drop by $1.28 billion in 2023 if it doesn't sell leftover Yeezy inventory. The company's guidance began on a bleak note with revenue for the year expected to drop after ending its Yeezy partnership. Against this background, Adidas said it is forecasting a decline in the high-single digits in sales in 2023. "The sales decline is about more than just Yeezy," Bernstein analyst Aneesha Sherman wrote in a note to clients early Friday. Cowen estimates the brand earned $1.2 billion in sales last year before Adidas terminated the partnership in October.

☆ A Jewish congressman says Twitter has become a 'hate-filled playground for Nazis and antisemites'
▼ + stars: | 2023-02-13 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

A Jewish congressman spoke out against antisemitism on Twitter at a House Oversight hearing last week. "Twitter has become a hate-filled playground for Nazis and antisemites," Moskowitz told CNN. "What happened on Twitter directly after the hearing proves my exact point that antisemitism is real and Twitter has become a hate-filled playground for Nazis and antisemites," Moskowitz told CNN. This includes dozens of Twitter users posting pictures of Holocaust denier Nick Fuentes with the caption "You are Jewish." One Twitter user said in response to that video: "You are the reason anti-semites exists.

☆ Kanye West is no longer a billionaire after being dumped by Adidas, but is still worth $400 million. Here's how he spent his money.
▼ + stars: | 2023-02-12 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +2 min

Major companies have severed ties with Ye in the wake of recent antisemitic comments. His net worth has been slashed, per Forbes, but he's still worth $400 million. Ye's assets include his music catalog, extensive real estate portfolio, and numerous vehicles. He's now lost the long-sought title, but is still worth a healthy $400 million, per Forbes, which ranks him the 2,543th richest person in the world. was dropped by Def Jam, per The New York Times, and he's no longer represented by Creative Artists Agency.

☆ Adidas Profit Warning Knocks Share Price, Highlights Challenge for New CEO
▼ + stars: | 2023-02-10 | by ( Trefor Moss | ) www.wsj.com time to read: 1 min

Bjørn Gulden took the top job at Adidas at the start of the year, after leading a turnaround of crosstown rival Puma. Adidas AG shares dropped 12% after the German sportswear giant warned it could swing to a loss this year following the termination of its Yeezy partnership with rapper Kanye West. Adidas said late Thursday that it expected a sharp fall in sales for 2023 because of the impact of not selling existing Yeezy stock, and could post a loss if it failed to sell existing inventory.

☆ Adidas forecast for 2023 sales slump spooks investors
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +2 min

BERLIN, Feb 10 (Reuters) - Adidas flagged that it expects a high single-digit decline in sales this year, sending its shares more than 10% lower in premarket trade early on Friday. Analysts on average had expected a 4% rise in 2023 revenue on a currency-neutral basis and operating profit of 1.02 billion euros, according to a consensus published on Adidas' website. The news came as it missed its own forecasts with a rise of just 1% in 2022 revenue in currency-neutral terms. Jefferies cut its recommendation on Adidas stock to "hold" from "buy", citing "challenges in articulating the mid-term profit delivery". ($1 = 0.9307 euros)Reporting by Victoria Waldersee and Maria Sheahan; editing by Kirsten Donovan and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Adidas Warns of Losses Stemming From Yeezy Fallout
▼ + stars: | 2023-02-10 | by ( Trefor Moss | ) www.wsj.com time to read: 1 min

Adidas said unsold inventory from its Yeezy collaboration with rapper Kanye West, such as these shoes, could deliver a 1.2 billion euro hit to revenues. Adidas AG warned it could swing to a loss in 2023 should it fail to sell its inventory of Yeezy shoes, following the termination of its partnership with rapper Kanye West. The German sportswear giant on Thursday said it expected sales to fall at a high single-digit rate in currency-neutral terms because of the “significant adverse impact of not selling the existing stock” from the once-lucrative Yeezy collaboration. This would lower revenues by 1.2 billion euros (about $1.29 billion), and operating profit by 500 million euros, it said.

☆ Jason Miller returns as Trump advisor for campaign struggling to generate much excitement compared to 2016
▼ + stars: | 2023-02-10 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

Jason Miller will advise Donald Trump on the strategy of his 2024 presidential bid. He previously left the Trump campaign to become CEO of the right-wing social media platform Gettr. Miller is joining a team that is struggling to generate the same excitement as past campaigns. "It was always a matter of when and not if I returned to help re-elect President Trump in 2024," Miller said in a statement, per Politico. Former Trump White House press aide Sarah Matthews described the campaign launch in a tweet as "low-energy" and "uninspiring."

Bored Ape Yacht Club was not the biggest crypto phenomenon, but it was one of the top beneficiaries of celebrity hype. The Bored Apes — a computer-generated collection of 10,000 cartoons — were being presented as a status symbol, membership in an exclusive club. Yuga sued Ripps for trademark infringement, and argues that his maligning of the Yuga apes is nothing more than a profiteering tactic. Hickman, who is Black, thought the Bored Apes looked like stereotypical portrayals of Black people as stupid or lazy. He said he thought this would be obvious to most people the second they saw an image of a Bored Ape.

☆ Premarket stocks: Share buybacks could beat last year's record $1.2 trillion
▼ + stars: | 2023-02-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Companies have announced about $175 billion worth of planned stock buybacks so far this year. This year will likely be the first with at least $1 trillion in completed S&P 500 company buybacks, said Howard Silverblatt at S&P Dow Jones Indices. ▸ GM (GM) just inked an exclusive deal for the hottest product in automaking: Semiconductors. The strong dollar is hurting multinationalsThe rip-roaring dollar cut deeply into the earnings of multinational companies selling their wares overseas last quarter. “We got hit with that.”McDonald’s (MCD) and 3M (MMM) also said in earnings reports that they were worried that the strong dollar would affect future sales.

☆ Adidas shares tank after it issues warning over unsold Yeezy stock
▼ + stars: | 2023-02-10 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

"The numbers speak for themselves. We are currently not performing the way we should", Adidas CEO Bjørn Gulden said in a press release. Adidas could lose around 1.2 billion euros ($1.3 billion) in revenue in 2023 if it is unable to sell its existing Yeezy stock. "The numbers speak for themselves. Adidas' revenues increased 1% in 2022, based on unaudited numbers, while operating profit dropped from almost 2 billion euros in 2021, to 669 million euros in 2022.

☆ Adidas says dropping Kanye West could cost it more than $1 billion in sales
▼ + stars: | 2023-02-10 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Adidas’ breakup with Ye, formerly known as Kanye West, is a pricey one. The company warned Thursday that it’s expected to lose $1.3 billion (1.2 billion euro) in revenue this year because it’s unable to sell the designer’s Yeezy clothing and shoes. Adidas said selling the sneakers under its own branding would save the company about $300 million in royalty payments and marketing fees. Other options including destroying it or donating unsold Yeezy clothing. Adidas said it also expects “one-off costs” of $213 million (200 million euro) because of a “strategic review” the company is currently undergoing.

☆ New Adidas CEO throws Yeezy in kitchen sink
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +2 min

But if Adidas decides to write off the Yeezy inventory altogether, it will lose another 500 million euros. In the worst scenario, with one-off costs in 2023 of up to 200 million euros, the $27 billion sportswear maker expects to report a 700 million euro operating loss this year. The company had already announced that ending its partnership with the musician would shrink its net income by 250 million euros in 2022. Shareholders however seem surprised that Adidas might not try to repurpose the trainers, instead of writing off the inventory. Yeezy is not the only problem for Adidas.

☆ Adidas could lose over $750 million as it tries to figure out what do do with its stockpile of Yeezys
▼ + stars: | 2023-02-09 | by ( Danni Santana | ) www.businessinsider.com time to read: +3 min

Adidas may lose over $700 million in operating profits in 2023 if it doesn't sell off excess Yeezys. Adidas has said it plans to sell Yeezys without Ye after the business relationship ended in October. According to a company statement Thursday, Adidas stands to lose over $750 million in operating profits in 2023 if it does not sell off excess Yeezy inventory. But fans of Adidas Yeezys are split on whether they would buy the shoes without a Ye connection. Adidas immediately brought its Yeezy business to a halt and asked wholesale partners to do the same.

☆ Beyoncé's line with Adidas is reportedly struggling, driving home the challenge of filling the $2 billion hole left by Kanye West's Yeezy line
▼ + stars: | 2023-02-08 | by ( Matthew Kish | Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

The Wall Street Journal on Wednesday reported sales for the singer's Ivy Park Adidas line fell 50%. Adidas' struggles to gain traction with Ivy Park come after the brand cut ties with Kanye West. Sales of the Ivy Park line with Adidas decreased more than 50% to roughly $40 million last year, well short of the company's $250 million forecast, according to the Journal. The Adidas line with Ivy Park launched in 2020. The contract between Beyoncé and Adidas expires after 2023, according to the Journal, which reported Adidas has discussed ending or revising the deal.

☆ Kanye West's ex-lawyers finally found him after months of trying to tell him they quit
▼ + stars: | 2023-02-06 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +4 min

Lawyers who represented Ye — aka Kanye West — finally found him after months of trying. After months of searching, attorneys at Greenberg Traurig LLP, the firm that represented West for everything from contract disputes to employment lawsuits, tracked Ye down and told him they quit. He was found at a location "primarily used by persons and entities not affiliated with Ye or his businesses," according to lawyers for Greenberg Traurig. He stopped responding to texts from Greenberg Traurig, the lawyers wrote in a series of court filings, asking for repeated extensions for the deadline to track him down. While the service may mark the end for Greenberg Traurig, it's only the beginning for Ye, whose legal risks couldn't get much higher.

☆ Adidas wants to become the sportswear brand of choice for Gen Z shoppers as it launches a collection aimed at taking on Nike
▼ + stars: | 2023-02-02 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +3 min

Adidas unveiled a new brand targeted at Gen Z shoppers this week. Dubbed Sportswear, Adidas' new collection has reportedly been 18 months in the making. Its launch comes just months after Adidas shut down its Yeezy brand, a collaboration with Kanye West that was popular with Gen Z shoppers. Nike is frequently ranked as the top sportswear brand among teen shoppers. Adidas describes its Sportswear collection as "sport for style" – clothing for everyday wear that includes items such as football jerseys, dresses, and fresh takes on its iconic three-stripe tracksuit.

☆ Eric Swalwell slams House GOP for moving against Ilhan Omar after supporting the openly anti-semitic Kanye West
▼ + stars: | 2023-02-02 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Rep. Eric Swalwell tore into the House GOP for removing Rep. Ilhan Omar from a powerful committee. Swalwell pointed out that an official GOP Twitter account praised Kanye West and took months to delete the message. House Republicans later voted to remove Omar from the panel. In October, the Twitter account for Republicans on the House Judiciary Committee expressed solidarity with Kanye West. House Republicans cited that report in a separate effort to remove Swalwell from the House Intelligence Committee.

☆ Kanye West paid white nationalist Nick Fuentes nearly $15,000 out of his 2020 campaign funds
▼ + stars: | 2023-01-30 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +3 min

Kanye West paid nearly $15,000 to white nationalist Nick Fuentes, per campaign finance records. Fuentes traveled with West to meet with former President Donald Trump at Mar-a-Lago. A new filing from the occasional rapper's presidential campaign shows those relationships have not come cheap. West's campaign also made payments to another far-right provocateur, Milo Yiannopoulous. According to campaign records, Yiannopoulous pocketed nearly $50,000 from the West campaign: $9,955 for a "Domain Transfer," dated the same day as the meeting with Trump, and $40,000 in mid-December for "Campaign Wrap Up Services."

☆ Police search for man who threw Molotov cocktail at New Jersey temple
▼ + stars: | 2023-01-29 | by ( Julianne Mcshane | ) www.nbcnews.com time to read: +4 min

Police are searching for a man who threw a Molotov cocktail at a New Jersey temple early Sunday morning. The man threw the flammable device at the front door of Temple Ner Tamid in Bloomfield, a township about 7 miles north of Newark, around 3:19 a.m., Bloomfield police said. Police are searching for a man who threw a Molotov cocktail at a New Jersey synagogue. Bloomfield Division of Public SafetyPolice responded to the temple at 9:30 a.m. Sunday after a report of property damage. "Let me be clear: there is no place for violence or hate in New Jersey and I strongly condemn these acts," Democratic Gov.

☆ Kanye West named a suspect in a battery investigation after a video appeared to show him throwing a woman's phone, report says
▼ + stars: | 2023-01-28 | by ( Gabi Stevenson | ) www.businessinsider.com time to read: +3 min

Kanye West is named a suspect in a battery investigation after throwing a woman's phone, TMZ reports. A video shared by the outlet Friday shows the rapper confronting several people filming him. If I say stop, stop with your cameras," he said in the clip. If I say stop, stop with your cameras," West said. In the video, West then appears to take the woman's phone from her hand and throws it in the street before approaching a man with a camera near the rapper's car.

☆ Elon Musk's Twitter just reinstated the account of white nationalist Nick Fuentes, who previously said Hitler was 'cool'
▼ + stars: | 2023-01-25 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +2 min

Elon Musk's Twitter has reinstated the account of white nationalist Nick Fuentes. Fuentes is known for making antisemitic remarks and has praised Hitler, calling him "cool." Fuentes has also praised Hitler in a video repeating that he is "cool" and "awesome." In a December interview with conspiracy theorist Alex Jones, Ye — who was joined by Fuentes — praised Hitler and made a number of overtly antisemitic remarks. Musk suspended Ye's Twitter account after the interview over repeated antisemitism saying: "I tried my best.

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