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☆ China has a reputation for exporting shoddy weapons, but its sales may get a boost from Russia's blunders in Ukraine
▼ + stars: | 2023-07-11 | by ( Michael Peck | ) www.businessinsider.com time to read: +7 min

If Russia's arms exports falter because of the war in Ukraine, China's appeal may only grow. Despite the drawbacks, Chinese arms exports may get a boost from the war in Ukraine. Mazhar ABID/Gamma-Rapho via Getty ImagesQuality concerns could be one reason for a pre-Ukraine decline in Chinese arms sales. On the other hand, SIPRI also found that German and British arms sales declined 35% and Israeli sales fell 15% during the same period. "As Russia's weapons availability may change as the war continues, China is prepared for when that time arrives."

Persons: Cindy Zheng, AAMIR QURESHI, Zheng, —, Mazhar ABID, SIPRI, NOEL CELIS Organizations: Service, RAND Corporation, Kamra, Getty, Nigerian Air Force, Pakistan —, Stockholm International Peace Research Institute, Germany's Puma, Getty Images Arms Locations: China, Beijing, Ukraine, Wall, Silicon, Islamabad, Africa, South Asia, Nigeria, Soviet, Myanmar, Bangladesh, Pakistan, Aslat, Karachi, Stockholm, Russia, AFP, Venezuela, Iran

The pan-European STOXX 600 index (.STOXX) closed 1.2% higher. European shares still advanced 8.7% in the first six months of the year. Miners (.SXPP) were a big drag this quarter, down 9.2% as worries around top metals consumer China weighed heavily on metal prices. The real estate sector (.SX86P) rose 1.7%, buoyed by 4.3% gains in shares of LEG Immobilien (LEGn.DE) after the German firm raised its 2023 outlook. Shares in Adidas (ADSGn.DE) and Puma (PUMG.DE), which had fallen earlier on Nike's (NKE.N) dour forecast, reversed course to rise 2.5% and 3.3%, respectively.

Persons: Melanie Debono, Hubert de, Amruta Khandekar, Matteo Allievi, Varun H, Eileen Soreng, David Evans Organizations: European Central Bank, Pantheon, ECB, Capital Economics, MIB, Miners, Adidas, Puma, Thomson Locations: Europe, U.S, Hubert de Barochez, China, Bengaluru, Gdansk

☆ European shares climb on China stimulus hopes; inflation data in focus
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +1 min

June 30 (Reuters) - European shares rose on Friday as lacklustre data on China's factory activity spurred hopes of more policy stimulus, while investors awaited key inflation readings for more clues on the direction of global interest rates. The pan-European STOXX 600 index (.STOXX) was up 0.3% by 0703 GMT. Miners (.SXPP) gained 0.7%, tracking metal prices higher as a decline in China's factory activity boosted expectations of more economic stimulus from the country. Personal Consumption Expenditure (PCE) data for May as well as preliminary figures on euro zone inflation later in the day. Among individual stocks, shares of sportswear makers Adidas (ADSGn.DE) and Puma (PUMG.DE) were down 1.7% and 0.3% respectively, after Nike's (NKE.N) gloomy forecast.

Persons: Amruta Khandekar, Varun Organizations: Miners, Energy, Adidas, Puma, Thomson

☆ Marketing teams are using AI to generate content, boost SEO, and develop branding to help save time and money, study finds
▼ + stars: | 2023-06-21 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Dozens of companies are using AI tools to enhance their marketing strategies, a Bynder study found. Clients are also using AI to optimize their content, improve spelling and grammar, and paraphrase information, according to the study. As a result, marketing teams have gotten the tech to brainstorm ideas, come up with grabby hooks, and complete research tasks. Marketing teams are even deploying AI by having the tech repurpose content and develop the voice of their companies' brand. High-level executives agree that AI can boost a marketing team's bottom line.

Persons: Bynder, Peggy Dean, Jacqueline DeStefano, Jonathan Adashek, Adashek, Warren Daniels Organizations: Morning, Spotify, Canon, Puma, IBM Locations: Bynder

☆ Biden has given Ukraine over 200,000,000 bullets to fight Putin
▼ + stars: | 2023-06-13 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +4 min

The latest package of military aid to Kyiv is all about replenishing their military's dwindling munitions. As such, the U.S. Department of Defense announced another package of military aid to Ukraine worth more than $2 billion. However, the Ukrainian air defense system took out the incoming munitions in short succession. The Ukrainian military continues to rely on its Western air defense systems to fend off incoming Russian missile and drone attacks. Western air defense systems were able to minimize the damage from the incoming Russian munitions.

Persons: —, Jacob Bradford, military's Organizations: Service, Ukrainian, U.S . Department of Defense, Ukraine Worth, Air, Puma, Ukraine's Armed Forces, Pentagon, NATO, European Union, Forces, US Army, Jacob Bradford Military, Russian Locations: U.S, Ukraine, Poland, Russian, Kyiv, Ukrainian

☆ Lululemon shares surge as consumers snap up pricier athletic wear
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +2 min

Lululemon's first-quarter results also moved past estimates as the company saw traffic across both its stores and online up about 30%. The company also reported a 79% rise in sales in China, bolstered by the rollback of COVID restrictions. The company's strong results also lifted shares of other athletic wear makers including Nike Inc (NKE.N) and Athleta owner Gap Inc (GPS.N) by 3% and 1%, respectively, in premarket trading. "We continue to believe that Lululemon is best positioned in a consumer slowing cycle," said Adrienne Yih, analyst at Barclays. Reporting by Savyata Mishra and Aishwarya Venugopal in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Piper Sandler, Abbie Zvejnieks, Lululemon's, Cowen, Adrienne Yih, Savyata Mishra, Aishwarya Venugopal, Krishna Chandra Organizations: Barclays, Nike Inc, Gap Inc, Adidas, Puma, Thomson Locations: China, U.S, Bengaluru

The Senate passed a bill late on Thursday to lift the government's $31.4 trillion debt ceiling, avoiding a catastrophic, first-ever default. The Labor Department's closely watched employment report, due 0830 ET, is expected to still show a tight labor market. Fed funds futures trading showed an over 70% probability that the Fed will hold interest rates steady at its June 13-14 policy meeting. ET, Dow e-minis were up 185 points, or 0.56%, S&P 500 e-minis were up 21.25 points, or 0.5%, and Nasdaq 100 e-minis were up 63 points, or 0.44%. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Nivedita Bhattacharjee and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: FEDWATCH, Russ Mould, AJ Bell, Germany's, Shreyashi Sanyal, Nivedita Bhattacharjee, Maju Samuel Organizations: Nike, Broadcom, Dow, Nasdaq, Federal, Fed, Labor, FEDWATCH Reuters, Dow e, Microsoft Corp, Apple Inc, Tesla Inc, Athletica, Dow Jones, Nike Inc, Germany's Adidas, Puma, Broadcom Inc, Nvidia Corp, Nvidia, Thomson Locations: Washington, United States, Europe, Bengaluru

11 a.m. Stroll through a former zooThe Palermo neighborhood already had three sprawling gardens within walking distance of one another: Jardín Japones Jardín Botánico and Parque El Rosedal . Once it was the site of a grand, and very sad, city zoo, where iron cages kept lions, tigers and chimpanzees in cruelly small spaces. The zoo closed in 2016, and since then, the new owners have been converting it into a peaceful nature preserve, where peacocks and Patagonian maras — native, fleet-footed rodents — roam free. The zoo’s gorgeous, antique buildings also remain, their stateliness now an elegant contrast to the wild native plants and brush growing along footpaths. Entry is free.

☆ Here's what to expect when Club apparel retailers TJX and Foot Locker report this week
▼ + stars: | 2023-05-16 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

Apparel retailers TJX Companies (TJX) and Foot Locker (FL) are set to deliver quarterly results this week, as consumers continue to be squeezed by a slowing economy and still-persistent inflation. Sneaker retailer Foot Locker reports Friday before the opening bell, with Refinitiv estimates showing revenue should have fallen by 8.3 % annually, to $1.90 billion, with EPS falling 49 % to, 81 cents. Foot Locker is going through a transitionary period as it reinvents itself, so our expectations are low for the first quarter. "Don't expect anything from Foot Locker," Jim Cramer said Monday. Foot Locker Inc. signage is displayed in the window of a store in New York, U.S. Michael Nagle | Bloomberg | Getty Images

☆ Adidas will sell some leftover Yeezy inventory instead of burning it, CEO says
▼ + stars: | 2023-05-11 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

Adidas intends to sell part of its leftover Yeezy inventory and donate the money to charities that were harmed by Ye's anti-Semitic comments, the company's chief executive said Thursday. Gulden took the helm of Adidas on Jan. 1, following CEO Kasper Rorsted's departure. Adidas' most recent earnings beat expectations but were weighed down by Yeezy inventory piling up. The company parted ways with Ye in October following months of bizarre behavior and antisemitic comments from the hip hop artist. The split left Adidas with inventory levels of $500 million worth of sneakers, with selling value of over $1 billion, according to the company.

We're buying 300 shares of Foot Locker (FL) at roughly $38.69 each. We're using the recent weakness in Foot Locker to add to our small position and improve our average cost basis. Sure, Foot Locker's stores are a great place to pick up the latest Steph Curry sneaker from Under Armour. A year later, she came back for the Foot Locker job, which we think speaks volumes about her commitment to overhauling the sneaker chain. As we wait for this turnaround to play out, Foot Locker offers a 4.11% annual dividend yield, which adequately compensates us for our patience.

☆ Rickie Fowler picks up snake with golf club at Wells Fargo Championship
▼ + stars: | 2023-05-08 | by ( Jack Bantock | ) edition.cnn.com time to read: +2 min

During the Wells Fargo Championship at Quail Hollow on Saturday, Rickie Fowler was on hand to provide a safe demonstration. North Carolina is home to a range of snake species, many of which inhabit the waters of the Tar Heel state. Comments on the PGA’s Twitter post wavered on what species of snake Fowler handled, but it is thought to be a northern watersnake, a nonvenomous species native to North America. Angling his wedge, Fowler gently hooked the snake to lift it out from between a gap in the rocks before it slithered away. Rickie Fowler the ... snake charmer?!

☆ Germany is finally focusing on defending NATO, but its military 'lacks almost everything' it needs to do it, a former German general says
▼ + stars: | 2023-05-07 | by ( Michael Peck | ) www.businessinsider.com time to read: +7 min

That's the warning from a former German general who argues that Germany must refurbish its badly neglected armed forces — though this will take years to accomplish. Today, the German military is just 183,000-strong, and it can't meet its recruiting goals. In 2020, German defense spending was only 1.4% of GDP, well short of 2% goal that NATO members have pledged to hit by 2024. "Armament procurement concentrated on armored transport vehicles rather than on battle tanks and infantry fighting vehicles," Vad writes. RONNY HARTMANN/AFP via Getty ImagesDespite years of calls by France for pan-European defense, coordinating German defense procurement with other EU states — each with distinct military needs and political priorities – is difficult.

☆ Adidas shares gain on earnings but CEO warns of ‘bumpy year’ after end of Yeezy deal
▼ + stars: | 2023-05-05 | by ( ) edition.cnn.com time to read: +2 min

Losing the highly profitable Yeezy line hit sales in the quarter by around 400 million euros ($441 million), Adidas said, mainly denting revenue across North America, Greater China and Europe, Middle East and Africa. CEO Bjorn Gulden told reporters Adidas has narrowed down the options for the shoes, and it is getting closer to a decision. Quarterly operating profit of 60 million euros ($66 million) beat analyst expectations of 15 million euros. North America was the worst hit by the loss of Yeezy, with currency-neutral sales down 20% from last year. The “terrace” shoe style is doing well in all markets, and Adidas has started to make more Samba, Gazelle, and Campus shoes, Gulden said.

☆ As sales decline, Adidas faces pressure to find Yeezy fix
▼ + stars: | 2023-05-04 | by ( Helen Reid | ) www.reuters.com time to read: +3 min

Gulden in March said the company could donate the proceeds of the Yeezy sale to charities, but Adidas has given no updates since. The Anti-Defamation League, an international Jewish non-governmental organisation based in New York, told Reuters it "stands ready and prepared to work with Adidas". The American Jewish Committee met with Adidas executives in December to discuss their commitment to reject antisemitism. Shareholders want Adidas to draw a line under the Yeezy episode and develop ways to reboot the brand. "Being successful with Yeezy probably made Adidas lazy on finding other growth drivers," said Cedric Rossi, nextgen consumer analyst at Bryan Garnier in Paris.

☆ Los Angeles Can’t Forget P-22, the Mountain Lion Who Made the A-List
▼ + stars: | 2023-05-04 | by ( Jill Cowan | ) www.nytimes.com time to read: +1 min

He was believed to have been born roughly 12 years ago in the Santa Monica Mountains that bisect Los Angeles. P-22’s father was P-1, the first mountain lion collared under a National Park Service program aimed at helping scientists understand the threats to wild animals in the region. Like his father, P-22 was known only by his tracking identifier even as his fame grew (the “P” stands for puma, the scientific name for the animal that is often called a mountain lion or cougar). Wildlife officials trapped and examined P-22, then determined that he should be euthanized because he was suffering trauma likely from being struck by a vehicle. They loved that the cougar was a reminder that wilderness persists, against seemingly insurmountable odds, amid the dizzying chaos of Los Angeles.

☆ Early Asos and Boohoo investor leads $10 million round in discount fashion marketplace startup Secret Sales
▼ + stars: | 2023-05-03 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

UK-based fashion marketplace startup Secret Sales has raised a $10 million Series B round. Clothing marketplace startup Secret Sales has raised $10 million in a round led by an early backer of fashion giants Asos and Boohoo despite a cooldown in investor interest in the sector. Some fast fashion retailers are under investigation by the Competition and Markets Authority for supposedly greenwashing how eco-friendly their fashion lines and manufacturing efforts have been. This allows brands to connect to Secret Sales in under two weeks, while legacy outlets take up to eight weeks, Griffin added. Secret Sales' "model is not just a small niche of a market, it's a vast market, and it scales potentially globally," said Iain McDonald, founder of Belerion Capital Group.

☆ Puma expects Q2 sales growth below full-year target
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

April 26 (Reuters) - German sportswear maker Puma (PUMG.DE) on Wednesday said it expected second-quarter sales to grow at a low- to mid-single-digit percentage rate, below its full-year target, due to high inventory levels and ongoing challenges in the market. The company said it expected its profit and margins to be under more pressure in the first half of 2023 than in the second half. Puma's revenue rose to 2.19 billion euros ($2.41 billion) in the first quarter from 1.91 billion euros in 2022, ahead of the 2.15 billion expected by analysts, according to Refinitiv Eikon data. The company said strong growth globally, including Greater China, helped it offset a weaker performance in the over-inventoried U.S. market. Puma confirmed its full-year outlook for currency adjusted revenue growth in high single digits, and an operating profit of between 590 million and 670 million euros.

☆ Iris Audio, a startup that uses AI to isolate voices and remove background noise from calls, just raised $7 million with this 13-slide pitch deck
▼ + stars: | 2023-04-26 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

Iris Audio has secured $7 million in Series A funding from Puma Private Equity. The London-based startup uses AI to detect and remove background noise from calls. A startup that has developed an AI-based voice isolation technology just raised $7 million in Series A funding from Puma Private Equity. London-based Iris Audio deploys its technology to "intercept comms channels and improve the quality of the audio in real time," founder and CEO Jacobi Anstruther. Iris Audio's software can be deployed across everything from voice calls to videos, podcasts, and audiobooks.

Bowing to pressure from allies, Germany's government this year agreed to send Leopard tanks to Ukraine, one of the big ticket items sought by Kyiv as it gears up to mount a counteroffensive against Russian forces. Duesseldorf-based Rheinmetall makes the cannon of the Leopard 2 while the Munich-based KMW makes its chassis. A district court in Munich in a statement on Tuesday said KMW was seeking legal protection to prevent Rheinmetall from making statements it saw as "untrue, misleading factual assertions that violate its rights". Higher defence spending pushed Rheinmetall to record earnings last year and saw the company enter Germany's DAX blue-chip index. ($1 = 0.9106 euros)Writing by Matthias Williams Editing by Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.

☆ Rheinmetall and KMW to upgrade Puma armoured vehicles for German army
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

April 19 (Reuters) - Rheinmetall (RHMG.DE) and Krauss-Maffei Wegmann (KMW) have received an order from the German army to upgrade 143 Puma infantry fighting vehicles, the companies said on WednesdayThe order for their joint venture PSM is valued at around 770 million euros ($843.92 million), they said in a joint statement. According to the companies, they will retrofit the armoured vehicles with key capabilities for firepower and command and control by 2029. The contract, which was signed in 2021, included two options for modernising the vehicles, both of which Berlin has decided to execute now. In late 2022, the German government said it would not purchase any more Pumas until they had proven themselves reliable, after several were put out of service during a military drill. ($1 = 0.9124 euros)Reporting by Andrey Sychev, Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

☆ Scoot Henderson on being a projected top pick in the 2023 NBA draft and his endorsement deal with Puma
▼ + stars: | 2023-04-10 | by ( John Lynch | ) www.businessinsider.com time to read: +10 min

Scoot Henderson is projected to be one of the top draft picks in the 2023 NBA Draft. So, you know, I'm just blessed that I came here and made the right decision. So I knew it was gonna be pretty tough, and I knew I was gonna really develop from it at a high level. And, uh, like I said, like I'm gonna keep saying, I'm blessed that I came here. And Puma, they gave me that confidence that I needed in a group, and in a brand like Puma, man.

☆ Meet the typical Adidas US customer, a 20-something who earns just under $100,000 and looks to Adidas for fashion and fitness apparel
▼ + stars: | 2023-04-05 | by ( Danni Santana | ) www.businessinsider.com time to read: +3 min

Adidas in 2022 reported $24.6 billion in sales across footwear, apparel, and sporting equipment. Adidas' typical customer is a millennial and Gen Z customer earning just under six figures. Today, Adidas employs over 59,000 workers and in 2022 reported $24.6 billion in sales, across categories like footwear and apparel. The typical US Adidas customer earns a mid-to-high average income of between $75,000 and $99,000, according to Start.io, a mobile marketing platform that helps partners serve relevant ads on their apps. "They're following the same lines in terms of fashion and sport," Omri Barnes, chief marketing officer at Start.io, told Insider.

☆ Inside Nike: Sources share claims of sexism, cheating, abuse at the world's wokest brand
▼ + stars: | 2023-04-05 | by ( Joshua Hunt | ) www.businessinsider.com time to read: +51 min

The conservative blowback came as no surprise to Parker, who told Nike's board of directors to expect some short-term backlash. In late 2014, the BBC sent a film crew to Portland to interview several former Oregon Project employees. "He would be at the side of the track calling out runners' splits but wouldn't call Kara's out," Adam Goucher told me. When people asked why she left the Oregon Project, she said it was a "personal decision." "I don't think it has anything to do with who the CEO is," Goucher told me.

Foot Locker (FL) traded lower early Wednesday after analysts at UBS downgraded their rating on it to sell from neutral and lowered their price target to $30 from $36. One reason why UBS says Foot Locker is challenged is that it thinks Nike (NKE) as a percentage of Foot Locker sales will decline to 55% to 60% from 70% over the next 12 to 18 months. Her expertise is in developing brand partnerships across several different companies, and that's essential for a multi-brand retailer like Foot Locker. Between UBS who put a sell on Foot Locker vs. CEO Mary Dillon who just bought stock, we'll side with the seasoned executive who just kicked off a turnaround plan. Foot Locker exclusive Puma Transformers Trainers released on November 22nd on display on Day 3 of MCM London Comic Con 2018 at ExCel on October 28, 2018 in London, England.

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