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☆ Evergrande founder joins list of Chinese tycoons investigated, arrested
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +4 min

Following is a list of some other high-profile Chinese executives who have been investigated or arrested under Xi's leadership. BAO FAN, FOUNDER OF CHINA RENAISSANCEThe founder of China Renaissance Holdings (1911.HK) was detained in February and the investment bank said in August he was co-operating with authorities as investigations continued. Wu was arrested in June 2017 amid Beijing’s campaign to curtail big-spending conglomerates as it cracked down on financial risk. YE JIANMING, FOUNDER OF CEFC CHINA ENERGYIn 2017, Ye's CEFC agreed to buy a nearly $9.1 billion stake in Russian oil major Rosneft. A year later, he was investigated for suspected economic crimes and disappeared from public view in March 2018.

Persons: Hui Ka Yan, Xi Jinping, ZHAO WEIGUO, Tsinghua Unigroup, Zhao, Bao, Morgan Stanley, Didi, XIAO JIANHUA, Xiao, CHEN FENG, TAN XIANGDONG, GROUP, Tan, WU XIAOHUI, Wu, JIANMING, Ye's CEFC, magazine's, Kane Wu, Selena Li, Anne Marie Roantree, Miyoung Kim, Lincoln Organizations: HK, Evergrande, TSINGHUA UNIGROUP, Tsinghua University, Tsinghua, OF CHINA, China Renaissance Holdings, Credit Suisse Group, OF, China's Communist Party elite, Reuters, HNA, Hainan Airlines, Deutsche Bank, Hilton Worldwide, Prosecutors, Thomson Locations: China, Chinese, Guangdong, Shanghai, Hong Kong, Hainan, CHINA

☆ Stock futures are little changed after Tuesday's sharp losses: Live updates
▼ + stars: | 2023-09-26 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Dow Jones Industrial Average futures rose by 34 points, or 0.1%. Futures linked to the S&P 500 inched up 0.1%, while Nasdaq 100 futures added 0.1%. Economists' estimates called for 695,000, per Dow Jones. Economists polled by Dow Jones had forecasted 105.5. Economists expect they declined 0.5%, according to Dow Jones.

Persons: Dow, Dow Jones, Rob Haworth, Blanke, Robert Schein, Schein Organizations: Dow Jones Industrial, Nasdaq, Costco, Homes, Census Bureau, Department of Housing, Urban Development, Conference, Bank Asset Management, Micron Technology Locations: U.S

☆ Morning Bid: Bank of Japan also holds policy and stays dovish
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +3 min

Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo, Japan September 20, 2023. The yen fell in response, even as Finance Minister Shunichi Suzuki spoke of the urgency to contain its fall. A majority of economists polled by Reuters expect the central bank will abolish the 10-year yield control scheme by the end of 2024. More than half reckon that the negative interest rate policy will end next year, too. Further complicating the picture for investors, however, were the surprisingly dovish decisions from the Bank of England and the Swiss National Bank.

Persons: Issei Kato, Vidya Ranganathan, Shunichi Suzuki, Kazuo Ueda, Bond, Fumio Kishida, Edmund Klamann Organizations: Bank of Japan, REUTERS, Reuters, MSCI's, Bank of England, Swiss National Bank, JPMorgan, Thomson Locations: Tokyo, Japan, Vidya, MSCI's Asia, India, Australia, Germany, France, Britain

☆ NextEra workers roll the dice with big bet on company stock
▼ + stars: | 2023-09-21 | by ( Tim Mclaughlin | ) www.reuters.com time to read: +8 min

America’s largest renewable power company is among several U.S. energy and utility companies, including Exxon and Southern Company, that continue to promote big, concentrated bets on company stock in worker retirement plans. Nearly 50% of the investments in NextEra’s employee-funded 401(k) retirement plan are in company stock, the highest among all 30 companies in the S&P 500 Utilities Sector (.SPLRCU). NextEra declined to comment on its use of company stock in employee 401(k) plans. "If we saw a concentration of more than 20% in a single company stock, we would definitely tell them it's a big risk." `Keith Rasmussen, a retired geologist, said he still feels the financial repercussions of holding big bets on company stock in his retirement plans.

Persons: Robert Knoche, Yoon, NextEra, ”, Alicia Munnell, Kristin McKenna, McKenna, Ryan Frazier, Keith Rasmussen, jolt, Rasmussen, “, ” Rasmussen, Richard Valdmanis, Anna Driver Organizations: REUTERS, Exxon, Southern Company, Corporate America, Enron, Utilities, Vanguard Group, Center for Retirement Research, Boston College, Employees, Silicon Valley Bank, Darrow Wealth Management, SEC, Corporations, U.S . Securities, Exchange Commission, Southern Co, Dominion Energy Inc, Dominion, Chesapeake Energy Corp, Thomson Locations: Douglas County , Kansas, U.S, Silicon, Boston, Atlanta , Georgia

BERLIN, Sept 19 (Reuters) - Germany's interior ministry is planning to force telecoms operators to slash the use of equipment from Huawei (HWT.UL) and ZTE in their 5G networks after a review highlighted an over-reliance on these Chinese suppliers, a government official said. Huawei currently accounts for 59% of Germany's 5G RAN networks, according to a survey by telecommunications consultancy Strand Consult. The interior ministry wants to present its approach to cabinet from next week but could face resistance from the ministry for digital affairs due to concerns it might affect Germany's already slow progress with digitalization. Germany is considered a laggard in implementing the European Union's toolbox of security measures for 5G networks. The interior ministry did not immediately reply to a request for comment.

Persons: Nancy, Faeser, Reinhard Brandl, Andreas Rinke, Sarah Marsh, Sabine Wollrab, Mark Potter Organizations: Huawei, Deutsche Telekom, Vodafone, Germany's, Strand, ZTE, Thomson Locations: Berlin, Germany, China

☆ Utilities look like a good bet into year-end, Morgan Stanley says. Here are 3 names to play the trend
▼ + stars: | 2023-09-18 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +2 min

Utilities have limped through much of 2023, but a few catalysts could lift a handful of stocks into the end of the year, according to Morgan Stanley. The wildfires in Maui have drawn attention to how severe weather can pose a risk to utilities. Nevertheless, there could be room for some year-end upside, Morgan Stanley analyst David Arcaro said in a report last week. "We expect a constructive outcome in the case supporting the upper half of earnings guidance," the Morgan Stanley analyst said. Morgan Stanley has an overweight recommendation on all three utilities.

Persons: Morgan Stanley, David Arcaro, Arcaro, Michael Bloom Organizations: Utilities, Electric, PPL Locations: Maui, Kentucky

☆ Oracle revenue misses estimates as tough economy hurts cloud spending
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

A screen displays the logo and trading information for Oracle Corporation on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 30, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsSept 11 (Reuters) - Oracle (ORCL.N) narrowly missed market expectations for first-quarter revenue on Monday, as companies pared back spending on cloud services due to an uncertain economic outlook. Companies have been trying to optimize their cloud budgets due to a global economic slowdown after a spurt in spending and adoption during the pandemic. Revenue for the quarter stood at $12.45 billion, slightly below analysts' estimates of $12.47 billion, according to LSEG data. Net income was $2.42 billion for the quarter ended Aug. 31, compared with $1.55 billion a year earlier.

Persons: Brendan McDermid, Akash Sriram, Devika Organizations: Oracle Corporation, New York Stock Exchange, REUTERS, Oracle, Companies, Amazon Web Services, Microsoft, Revenue, Thomson Locations: New York City, U.S, Bengaluru

☆ Top Wall Street analysts select these dividend stocks to enhance returns
▼ + stars: | 2023-09-10 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +7 min

To that effect, here are five attractive dividend stocks, according to Wall Street's top experts on TipRanks, a platform that ranks analysts based on their past performance. The analyst increased his price target for Verizon stock by $1 to $40, while maintaining AT&T's price target at $17. Also, he expects the prospects for improved free cash flow to lower net debt leverage and support the dividend payments. That said, with expectations of higher cash flow generation, Crum said that "the company should have more flexibility around growing its dividend going forward." (See Hasbro Stock Chart on TipRanks)Dell TechnologiesNext up is Dell (DELL), a maker of IT hardware and infrastructure technology, which rallied after its fiscal second-quarter results far exceeded Wall Street's estimates.

Persons: Hans Vestberg, Brendan McDermid, Wall, Michael Rollins, Rollins, MDT, Rick Wise, Geoff Martha, Wise, Drew Crum, Crum, TipRanks, Amit Daryanani, Daryanani, Dell Organizations: DELL, Verizon, New York Stock Exchange, Analysts, Verizon Communications, Citi, AT, Verizon Hedge, Hasbro, Dell Technologies, Dell, TipRanks, GPU, Walmart, &' $ Locations: New York, U.S

☆ The UK economy is bigger than we thought. It still has ‘a growth problem’
▼ + stars: | 2023-09-04 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

London CNN —The UK economy recovered from the Covid-19 pandemic much faster than previously thought, according to major revisions of official statistics that have erased Britain’s laggard status overnight. The ONS had said as recently as last month that UK GDP had still not reached its pre-pandemic size by the second quarter of this year. “UK growth has still been very sluggish, even if it’s not at the bottom,” said Prof. Huw Dixon, who leads research in economic measurement at the National Institute of Economic and Social Research. So while the size of the economy is bigger than we thought, Britain still has a growth problem.”Richer dataIn 2020, the UK economy suffered its biggest slump in more than three centuries, recovering sharply the following year off a low base. Annual GDP growth for 2021 was also revised up by 1.1 percentage points to 8.7%.

Persons: ” Ruth Gregory, “, ”, Huw Dixon, ” Dixon, ” John Springford, Richer, That’s, Frost, Darren Morgan, Henry Nicholls, Jeremy Hunt, Gregory, Nomura Organizations: London CNN, Office, National Statistics, ONS, Capital Economics, National Institute of Economic, Social Research, CNN, Centre, European Reform, Getty Images, Bank of England Locations: Germany, United States, Canada, Japan, Italy, France, Britain, Petticoat Lane, AFP, United Kingdom

Following the trade, Jim Cramer's Charitable Trust will own 50 shares of AVGO, increasing its weighting in the portfolio to 1.46% from 0.97%. With shares of Broadcom set to open down about 4% following the semiconductor firm's quarterly results Thursday, we are stepping in to build up our newest position . We also want to expand our Broadcom position before its planned acquisition of cloud-computing firm VMWare closes, likely at the end of October. The deal should provide a nice boost to Broadcom's gross profit margins, while adding a strong stream of recurring revenue. Industry Leader: Broadcom (BRCM)Annual revenue per employee: $605,318Annual profit per employee: $6,559Employees: 7,185Industry Laggard: National Semiconductor (NSM)Annual revenue per employee: $224,877Annual profit per employee: $30,164Employees: 6,500 Photo: Huang jia hui

Persons: Jim Cramer's, TD Cowen, Wells, Jim Cramer, Jim, Huang jia Organizations: Broadcom, AVGO, VMWare, Wall, CNBC, Industry, National Semiconductor Locations: Wells Fargo, –

[1/5]A Yes23 volunteer holds pamphlets while speaking with commuters about the upcoming Voice to Parliament referendum, in Melbourne, Australia August 30, 2023. Some senior Liberal party leaders, however, have broken ranks and supported the Voice referendum. "The Voice delivers recognition and respect to Indigenous Australians in the manner they have sought," Turnbull said in an opinion piece in The Sydney Morning Herald on Wednesday. In the most recent referendum in 1999, Australians voted against changing the constitution to establish Australia as a republic. "I’m just trying to vote yes for the recognition of the real owners of Australia," Sydney resident Oscar Rodas, who was at one of the campaigns, told Reuters.

Persons: Albanese, SYDNEY, Anthony Albanese, Pat Anderson, Jacinta Nampijinpa Price, James Ross, Malcolm Turnbull, Turnbull, I’m, Oscar Rodas, Cordelia Hsu, Stephen Coates Organizations: Wednesday, Aboriginal, Torres Strait, First Nations Peoples, Liberal, REUTERS Acquire, Liberal Party, Sydney Morning Herald, Sydney, Reuters, Thomson Locations: Torres Strait, Adelaide, Torres, Australia, Canada, New Zealand, Melbourne, Lincoln

☆ Chart of the Week: Nike just isn't doing it, biggest Dow laggard this week
▼ + stars: | 2023-08-25 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChart of the Week: Nike just isn't doing it, biggest Dow laggard this weekThe 'Fast Money' traders talk this week's Chart of the Week, Nike.

Organizations: Nike, Dow

☆ Why Jim Cramer is cautious on this consumer-goods stock
▼ + stars: | 2023-08-23 | by ( Morgan Chittum | ) www.cnbc.com time to read: 1 min

Consumer-goods stocks are typically "a terrific place to be if you think the economy is slowing down," CNBC's Jim Cramer said Wednesday, but packaged-goods firm General Mills (GIS) has been a major laggard. If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. Consumers are reining in spending amid ongoing economic uncertainty, turning to cheaper options. But General Mills aside, "it makes sense to dip your toe into the consumer packaged-goods stocks, true recession stocks," Cramer argued Tuesday on "Mad Money." General Mills stock edged lower Wednesday, notching a new 52-week-low, at roughly $69.37 a share.

Persons: Jim Cramer, Mills, Jim Cramer's, Cramer Organizations: Consumers

☆ Stock futures are little changed as investors look ahead to next batch of corporate earnings: Live updates
▼ + stars: | 2023-08-22 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Stock futures are near flat Tuesday night as investors awaited on the latest crop of corporate earnings reports from well-known names including Nvidia . S&P 500 and Nasdaq 100 futures also each climbed 0.1%. The moves follow a mixed session on Wall Street. The S&P 500 and Dow slid around 0.3% and 0.5%, respectively. Of the more than 95% of S&P 500 companies that have delivered results, about four out of five have exceeded Wall Street expectations.

Persons: Foot, Kohl's, Fitch, Snowflake, Dow, Macy's, Lowe's, Rob Haworth, They'll, Jerome Powell Organizations: New York Stock Exchange, Stock, Nvidia, Dow Jones Industrial, Nasdaq, Urban Outfitters, Retail, Abercrombie, Dick's Sporting Goods, U.S . Bank Locations: what's, Jackson Hole , Wyoming

☆ UK’s improving finances will bear no fiscal gifts
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Yves Herman/File Photo Acquire Licensing RightsLONDON, Aug 22 (Reuters Breakingviews) - Higher tax receipts helped Britain to borrow less than expected in July. The UK’s poor economic health leaves him with little room for fiscal giveaways ahead of a prospective 2024 election. Public sector net borrowing stood at 4.3 billion pounds in July, less than the 5 billion pounds expected by economists polled by Reuters. In the first four months of the fiscal year, borrowing was 11.3 billion pounds below the Office for Budget Responsibility’s forecast. The recent rise in bond yields will add around 18 billion pounds to debt interest spending by 2027/28, says Capital Economics.

Persons: Jeremy Hunt, Mairead McGuinness, Yves Herman, Hunt, Francesco Guerrera, EY’s loveless, Lisa Jucca, Katrina Hamlin Organizations: Financial Stability, Financial Services, Capital Markets, REUTERS, Reuters, Budget, Economics, Twitter, TPG, Thomson Locations: Brussels, Belgium

☆ It may be tough for Apple to outperform from here, says top tech analyst
▼ + stars: | 2023-08-18 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

There are better tech plays than Apple at the moment, according to Rosenblatt Securities analyst Barton Crockett. Crockett advised investors to look beyond Apple towards opportunities with higher growth and margin potential. "I think you've got to be careful," Crockett said Friday about Apple on "Squawk on the Street." Still, Crockett thinks these other Big Tech names look more attractive than Apple moving forward. To be sure, Crockett still views Apple as a premium consumer products company that people will flock to when times are tough.

Persons: Barton Crockett, Crockett, you've, Apple Organizations: Apple, Rosenblatt Securities, Dow Jones, Big Tech, Meta, Microsoft, Nvidia, Facebook Locations: U.S

☆ Instacart’s slow IPO delivery spoils the goods
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Aug 18(Reuters Breakingviews) - Instacart may finally be in the market for new investors. The grocery delivery company is set to submit an initial public offering prospectus to regulators as soon as next week, Bloomberg reported. Fund managers were on a shopping spree when Simo was appointed Instacart’s boss in August 2021. The slow IPO delivery has spoiled the goods. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Apoorva Mehta, Fidji Simo, Simo, Jay Ritter, Instacart, Andreessen Horowitz, Rowe Price, Jennifer Saba, EY’s loveless, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, Bloomberg, University of Florida, Twitter, TPG, Thomson

☆ BAE’s stratospheric space deal has sound logic
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +2 min

People gather at the BAE Systems' booth during the Association of the United States Army (AUSA) Global Force Symposium & Exposition in Huntsville, Alabama, U.S. March 28, 2023. REUTERS/Cheney Orr/File Photo Acquire Licensing RightsLONDON, Aug 17 (Reuters Breakingviews) - BAE (BAES.L) is showing off its deep pockets. On Thursday, the $37 billion maker of war ships and armored vehicles said it will splurge over $5.5 billion in cash on Ball Corp’s (BALL.N) aerospace arm. BAE CEO Charles Woodburn beat off private equity bidders including Blackstone (BX.N) to seal the deal, which bulks up his exposure to civil and military space surveillance solutions. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Cheney Orr, Ball, Charles Woodburn, Woodburn, Woodburn’s pricey, Aimee Donnellan, EY’s loveless, Neil Unmack, Streisand Neto Organizations: BAE Systems, Association of, United States Army, Global, REUTERS, Reuters, BAE, Blackstone, Ball Aerospace, Twitter, TPG, Thomson Locations: Huntsville , Alabama, U.S

☆ Target investors misread bullseye
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Aug 16 (Reuters Breakingviews) - Target (TGT.N) had some luck hitting the bullseye this quarter. Target is getting its inventory in shape after a glut of products from last year caused it to slash prices. Still, the company slashed its sales and profit outlook as shoppers continue to spend more on food. E-commerce sales slumped nearly 11% – well below the overall sales decline of 5%. Target may well be beholden to consumer behavior, but it can steady its aim to hit marks under its control.

Persons: Brian Cornell, Jennifer Saba, EY’s loveless, Exor’s Philips, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, Twitter, TPG, Thomson

☆ High services costs make UK rate-cutting laggard
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +2 min

Governor of the Bank of England Andrew Bailey speaks as he attends a press conference for the Monetary Policy Report August 2023, at the Bank of England in London, Britain, August 3, 2023. Alastair Grant/Pool via REUTERS Acquire Licensing RightsLONDON, Aug 16 (Reuters Breakingviews) - UK inflation is slowing, according to many metrics. Unfortunately, those are not the ones the Bank of England values the most. Prices in that category grew 7.4% in July, faster than June’s 7.2%, due to more expensive restaurants, hotels and airfares. Policymakers keep a close eye on services’ prices and wage growth, which hit a record in the three months to June.

Persons: Bank of England Andrew Bailey, Alastair Grant, Andrew Bailey, Bailey, Francesco Guerrera, Exor’s Philips, Bain, Neil Unmack, Streisand Neto Organizations: Bank of England, Monetary, REUTERS Acquire, Reuters, Bank of, Office, National Statistics . Services, European Central Bank, U.S . Federal Reserve, Twitter, FC Barcelona’s, Messi, Thomson Locations: London, Britain, Bank of England, June’s

☆ TPG dangles messy end for EY’s loveless marriage
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +2 min

On Monday, the Financial Times reported that private equity firm TPG (TPG.O) had approached EY about buying a stake in its consulting arm. Back in May of last year when EY’s split was leaked to the press, valuations were much more attractive. If TPG pushes for a full breakup, EY would still have to work out how to divvy up its tax advice business between audit and consulting. Given the challenges, EY may well decide it’s better to soldier on with an awkward marriage than risk a messy divorce. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: EY’s, EY, Aimee Donnellan, Exor’s Philips, Bain, Neil Unmack, Oliver Taslic Organizations: Reuters, Financial Times, TPG, Big, Partners, Twitter, Thomson

☆ Deutsche Bank says this Chinese EV stock will recapture its momentum, rally 28%
▼ + stars: | 2023-08-11 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Chinese electric car brand Nio is in the middle of a big turnaround that can push the stock up as much as 28%, according to Deutsche Bank. Analyst Edison Yu was impressed by the jump in deliveries last month as well as its improved operations. Nio said its July deliveries totaled 20,462, up 103.6% year over year and nearly double the June figure of 10,707 cars. Deutsche Bank expects the company can continue the rally amid the increase in unit sales as well as gross margin. "We think the stock can finally recapture momentum after being a relative laggard all year and also see some small potential for strategic optionality," Yu said.

Persons: Edison Yu, Nio, Yu, — CNBC's Michael Bloom, Evelyn Cheng Organizations: Deutsche Bank Locations: Abu Dhabi

☆ A Trucking Giant Is Bankrupt, and Finger-Pointing Begins
▼ + stars: | 2023-08-07 | by ( Peter Eavis | More About Peter Eavis | ) www.nytimes.com time to read: +1 min

ArcBest, he said, took in $529 per shipment in the first quarter, versus $339 at Yellow. Mr. Jindel said Yellow was a laggard “largely because of mismanagement.”Yellow did not respond on Monday to a request to speak about its management record. One company hoping to pick up business from Yellow is Saia, a less-than-truckload company near Atlanta. The company’s stock has more than doubled this year, and is up 25 percent just since the end of June. The trucking industry plays a critical role in the U.S. economy, transporting nearly three-fourths of all freight tonnage in the United States, according to the American Trucking Associations, a trade group.

Persons: Satish Jindel, Jindel, “, ” Frederick Holzgrefe Organizations: Yellow’s, SJ Consulting, American Trucking Associations Locations: Atlanta, U.S, United States

☆ The genius plan that could bring down skyrocketing home prices
▼ + stars: | 2023-08-07 | by ( Eliza Relman | ) www.businessinsider.com time to read: +15 min

Not only did this help to slow down skyrocketing housing costs, it inspired a bipartisan, nationwide expansion of the policy. Home prices in Auckland, New Zealand's biggest city, doubled between 2009 and 2016 and prices across the rest of the country followed close behind. "A typical New Zealand city looks a lot like a typical US city," Gray said. There are three models of housing construction in US cities right now, Gray said. "In terms of an overall objective, I think bringing down house prices to construction costs is an ultimate sign of housing abundance."

Persons: Upzoning, Jenny Schuetz, Matthew Maltman, who's, Ryan Greenaway, Guo Lei, Maltman, There's, Auckland's upzoning, Vicki Been, Bill de Blasio, Schuetz, Nolan Gray, Gray, let's, Brett Coomer, that's, Allison Zaucha, Freemark, we're, Emily Hamilton, Eliza Relman Organizations: Brookings Institute, Auckland, Economic, University of Auckland, New, National Party, Housing, Economic Development, New Zealand, California YIMBY, Urban Institute, Houston, Montana Republicans, George Mason University Locations: New Zealand, Auckland, Australian, Zealand, Auckland , New, New Zealand's, New York, Europe, California, Zealanders, San Francisco, Los Angeles, Phoenix, Houston, Atlanta, Denver, Seattle, Washington, Portland , Oregon, Montana, California . Utah, Minneapolis, New York City

☆ Adidas turnaround gathers pace as Yeezy boosts margins
▼ + stars: | 2023-08-03 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +4 min

Adidas has to manage Yeezy drops very carefully, Gulden said, adding that the company's guidance was conservative. Adidas' 2023 outlook does not include the second Yeezy release, which is being sold through retailers as well as Adidas' own channels. JD Sports (JD.L) said it had started selling Yeezy shoes from the second drop on Wednesday. Citi analysts expect further Yeezy drops to generate 1.5 billion euros ($1.64 billion) in revenues and 700 million euros in earnings after Adidas' planned charity donations. Adidas donated 10 million euros in the second quarter and set aside 100 million euros for further donations to charities including the Foundation to Combat Antisemitism and the Anti-Defamation League.

Persons: Bjorn Gulden's, Ye, Gulden, Harm Ohlmeyer, Kanye West, Shannon Stapleton, Zuzanna Pusz, Pusz, Liu Qingyi, Shuting Qiu, Helen Reid, Mark Potter, Jan Harvey, Alistair Bell Organizations: FX, Adidas, JD, Citi, Foundation, Combat, Defamation League, ADIDAS, REUTERS, UBS, North, Thomson Locations: Garden City , New York, U.S, Greater China, China, Shanghai, North America

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