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☆ Elon Musk and Donald Trump are trying new ways to dodge jet tracking — but it's not a 'silver bullet'
▼ + stars: | 2022-12-16 | by ( Taylor Rains | Grace Kay | ) www.businessinsider.com time to read: +5 min

LVMH CEO Bernard Arnault is one: He recently sold his private aircraft so "no one can see where I go," and he now rents jets instead. The program allows private aircraft owners to block their planes from being publicly shown on websites like FlightAware and FlightRadar24, which use FAA data. Puma/Jay Z's jet tracked on ADS-B Exchange with LADD indicator. Sweeney's Elon Jet Twitter bot also recorded the flight. Elon Musk's private jet flight with PIA flag, tracked by Jack Sweeney.

☆ Adidas needs Yeezy-like designs to thrive, but many sneakerheads say they're done with the brand
▼ + stars: | 2022-12-09 | by ( Danni Santana | ) www.businessinsider.com time to read: +3 min

In a note, Cowen analysts said Adidas has "a path forward" in selling popular shoes without Yeezy. Some sneakerheads will give Adidas' new offerings a chance, while others plan to skip the releases. "Our checks suggest there is demand for Yeezy-like designs among the sneaker community, despite clear reputational risk, and we expect management to launch new styles without Yeezy branding," Cowen analysts said. Cowen analysts estimated Adidas also has several million units of Yeezy inventory in warehouses. The company has lost over $1 billion in annual profit in the region since 2019, Cowen analysts said.

☆ Nike basketball sales aren't expected to suffer after cutting ties with Kyrie Irving as anticipation builds for a Ja Morant signature shoe
▼ + stars: | 2022-12-06 | by ( Matthew Kish | ) www.businessinsider.com time to read: +4 min

Memphis Grizzlies star Ja Morant is expected to get the next Nike signature shoe. "When his signature shoe starts selling, it has the potential to be what Kyrie's was the first three years." Still, Burns noted Nike basketball is on the upswing, and Morant has a strong reputation. The shoe is nearly sold out on Nike's website, suggesting strong demand for performance basketball shoes and room in the market for a new signature shoe. "Nike basketball has rebounded," Burns said, citing the popularity of the GT Cut.

☆ Porsche will join Germany's blue-chip index - Deutsche Boerse
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Dec 5 (Reuters) - German sportscar maker Porsche AG (P911_p.DE) will join the blue-chip index, just over two months after its market debut, exchange operator Deutsche Boerse (DB1Gn.DE) said on Monday. Porsche AG will replace sportswear maker Puma (PUMG.DE) on the DAX stock index (.GDAXI) on Dec. 19 while Puma will move down to the MDAX index (.MDAXI), it said. Both Volkswagen and its majority owner Porsche SE are on the DAX index as well. Deutsche Boerse periodically reassesses the composition of the index using trading data to measure market value and trading volume as a basis for deciding which companies to include. Bioenergy company Verbio (VBKG.DE) will also join the mid-cap MDAX index, while real estate firm Deutsche Wohnen (DWNG.DE) and battery maker Varta (VAR1.DE) will be demoted to the small-cap SDAX (.SDAXI).

REUTERS/Lisi NiesnerCompanies Lockheed Martin Corp FollowBERLIN, Nov 30 (Reuters) - The leaders of Germany and Norway said on Wednesday they would jointly ask NATO to coordinate the protection of Europe's subsea infrastructure in light of the suspected attacks on the Nord Stream gas pipeline network. European countries have stepped up vigilance around critical installations after the Nord Stream 1 and 2 pipelines, which connect Russia to Germany, ruptured in September and spewed gas into the Baltic Sea. "We take the protection of our critical infrastructure very seriously and nobody should think that attacks would remain without consequences," he said. In an emailed statement, NATO Secretary General Jens Stoltenberg said he welcomed Germany and Norway's proposal. "We have stepped up our efforts after the recent sabotage of the Nord Stream pipelines, and it is vital to do even more to ensure that our offshore infrastructure remains safe from future destructive acts," he said.

☆ Adidas considered its relationship with Kanye West a risk as early as 2018, new reports show. Here's the nine-year timeline of Adidas and Yeezy's turbulent partnership.
▼ + stars: | 2022-11-29 | by ( Matthew Kish | Danni Santana | ) www.businessinsider.com time to read: +5 min

Adidas announced an endorsement deal with Kanye West in November 2013. By 2019, Adidas sales of his Yeezy brand eclipsed $1 billion annually. Across the company, sales were flat. But that same month, Adidas announced a partnership with Kanye West, the polarizing musician and fashion designer, now known as Ye. Despite the turbulence, Adidas Yeezy sales continued to grow.

☆ I Finally Found a Hat That Fits Over a Bun, Top-Knot or Updo
▼ + stars: | 2022-11-27 | by ( ) www.wsj.com time to read: +3 min

When I started wearing my hair in a bun virtually every day, I discovered that wearing a sun hat became…a real pain in the buns. Suddenly, the bucket hat styles that I’d loved for years either didn’t stay on my bun-topped head or looked rather ridiculous—like a lumpy Cat in the Hat. The North Face hat is made for outdoor adventures, fabricated from a durable, quick-dry recycled nylon with a perfectly-angled bucket brim with some oomph to it. The North Face name and logo comes embroidered boldly and noticeably smack-dab on the forehead, which was a little too much for me. Once I started wearing it all the time, in my Brooklyn neighborhood, I realized it was more an object of envy than ridicule.

☆ Shares of Nike and Adidas could score at the World Cup
▼ + stars: | 2022-11-25 | by ( Noel Randewich | ) www.reuters.com time to read: +2 min

Nov 25 (Reuters) - As 32 teams compete for the World Cup in Qatar, Adidas (ADSGn.DE) and Nike (NKE.N) also hope their shares can score. Adidas shares lost 6% during the month-long 2018 World Cup, when heavily favored Germany, an Adidas team, was knocked out early and the FIFA tournament was won by France, a Nike team. Nike did not immediately respond to a request for comment about the importance of the World Cup on its sales. Nike is providing jerseys for 13 teams in this World Cup, including Brazil, France and the United States, overtaking Adidas as the leader in World Cup jerseys. Nearly a week into the World Cup, Nike teams have accumulated 22 points, while Adidas-clad teams have accumulated 11 points and teams wearing Puma jerseys have won eight points.

☆ Adidas slashes 2022 outlook after Kanye West split
▼ + stars: | 2022-11-09 | by ( Rachel More | ) www.reuters.com time to read: +2 min

Adidas now expects its currency-neutral revenue to grow at a low-single-digit rate in 2022, down from a previously forecast mid-single-digit rate. An Adidas logo is pictured inside a shoe before the company annual general meeting in Fuerth near Nuremberg, Germany, May 11, 2017. It posted net income from continuing operations of 66 million euros, revising down its preliminary figure by almost two-thirds following the end of the Ye partnership. The termination of the partnership is expected to reduce annual earnings by half, the company previously said, with net income from continuing operations of around 250 million euros ($252 million) now expected this year. ($1 = 0.9939 euros)Writing by Rachel More; Editing by Miranda Murray and Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.

☆ Adidas will continue to sell Kanye West’s shoe designs without the Yeezy name
▼ + stars: | 2022-11-09 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

But Adidas (ADDDF) will continue to sell the lucrative sneaker and apparel line, stripped of the Yeezy name and branding. The company said it’s the sole owner of all Yeezy line design rights for both existing and future colors and versions. The Yeezy line was a key product for Adidas and the fallout has hurt the company. He will have to find ways to replace Yeezy sales and turn around the brand. It would be a mistake for Adidas to continue selling the line, said Darcey Jupp, an apparel analyst at GlobalData.

☆ Adidas' break-up with Kanye West has halved its earnings forecast for 2022
▼ + stars: | 2022-11-09 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Adidas had forecast net income of 500 million euros five days before cutting ties with Kanye West. After ending the deal with the rapper the figure has been cut to just 250 million euros. Adidas said the reduction was "due to negative tax implications in the third quarter related to the company's decision to terminate the adidas Yeezy partnership" and reflected the "high seasonality of the adidas Yeezy business geared towards the fourth quarter." As part of his Yeezy deal with Adidas, West also demanded that a facility be set up in Wyoming, Bloomberg reported. Adidas executives took just two minutes to cut ties in an "undramatic" phone call, having initially delayed a decision to get legal opinions from US law firms, per Bloomberg.

☆ Kanye West's Turbulent 9-Year History With Adidas
▼ + stars: | 2022-11-09 | by ( Matthew Kish | Danni Santana | ) www.businessinsider.com time to read: +4 min

Adidas announced an endorsement deal with Kanye West in November 2013. By 2019, Adidas sales of his Yeezy brand eclipsed $1 billion annually. In November 2013, Adidas sales in North America, the most critical territory for sportswear sales, were down 1% for the year. But that same month, Adidas announced a partnership with Kanye West, the polarizing musician and fashion designer, now known as Ye. Despite the turbulence, Adidas Yeezy sales continued to grow.

☆ Adidas Appoints Puma Boss Bjørn Gulden as New CEO
▼ + stars: | 2022-11-08 | by ( Joshua Kirby | ) www.wsj.com time to read: 1 min

Adidas said over the summer that its CEO was leaving following a string of disappointing results and cuts to financial expectations. Adidas AG said it tapped Bjørn Gulden to take over as chief executive of the sportswear giant, luring the executive away from crosstown rival Puma SE . Adidas said last week it was in talks with Mr. Gulden as a possible successor to incumbent Adidas CEO Kasper Rorsted . Puma had earlier announced Mr. Gulden’s departure after nine years in charge.

☆ Puma's Gulden to head rival Adidas from Jan. 1
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +2 min

"During his time as CEO of Puma, he revitalised the brand and led the company to record results," said Adidas supervisory board chairman Thomas Rabe. "The Supervisory Board is firmly convinced that Bjorn Gulden will lead Adidas into a new era of strength." Adidas has been looking for a successor to Rorsted, who had initially planned to leave his post in 2023, since August. Gulden had to leave his CEO position at Puma with immediate effect with the decision to move to Adidas; Arne Freundt was named the head of Puma with immediate effect on Tuesday. Reporting by Alexander Huebner, Writing by Miranda Murray, editing by Rachel More and David EvansOur Standards: The Thomson Reuters Trust Principles.

☆ Puma names new CEO with immediate effect as Gulden heads to Adidas
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Nov 8 (Reuters) - Puma brought forward the start date of its next chief executive on Tuesday, naming Arne Freundt as leader with immediate effect as rival Adidas confirmed that Bjorn Gulden would be its next head. Puma had announced last week that Gulden - who served as head of the sportswear maker since 2013 - would be leaving at the end of 2022, with Freundt initially set to start Jan. 1. Adidas has been looking since August for a successor to Rorsted, who had initially planned to leave his post in 2023. Adidas said its chief financial officer, Harm Ohlmeyer, would lead the company in the interim until Dec. 31, 2022. Writing by Miranda Murray, editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

☆ Adidas Appoints Puma Boss Bjørn Gulden as CEO
▼ + stars: | 2022-11-08 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

Bjørn Gulden was chosen to be the chief executive of Adidas. Adidas AG said it tapped Bjørn Gulden to take over as chief executive of the sportswear giant, luring the executive away from crosstown rival Puma SE as it grapples with issues ranging from the future of its popular Yeezy sneaker brand to sliding market share in China. Adidas said last week it was in talks with Mr. Gulden as a possible successor to incumbent Adidas CEO Kasper Rorsted . Puma had earlier announced Mr. Gulden’s departure after nine years in charge.

☆ Adidas scoops up CEO who turned around rival Puma
▼ + stars: | 2022-11-08 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN Business —Adidas has appointed the head of Puma to succeed outgoing CEO Kasper Rorsted, betting on his ability to replicate its crosstown rival’s comeback. Norwegian Bjørn Gulden, 57, will become CEO of Adidas (ADDDF) on January 1, 2023, the German sportswear brand said in a statement on Tuesday. “As CEO of Puma, he re-invigorated the brand and led the company to record results,” Rabe added. Gulden takes over amid a deepening slump in Adidas’ home market of Germany and as inflation begins to weigh heavily on consumer spending globally. Chief financial officer Harm Ohlmeyer will lead Adidas until Gulden takes over.

☆ Puma names new CEO effective immediately as Bjorn Gulden heads to Adidas
▼ + stars: | 2022-11-08 | by ( ) www.cnbc.com time to read: 1 min

Puma named Arne Freundt its new CEO effective immediately, as rival Adidas confirmed that Bjorn Gulden would be its next head. Puma had announced last week that Gulden — who served as head of the sportswear maker since 2013 — would be leaving at the end of 2022, with Freundt initially set to start Jan. 1. Gulden is now set to take over at Adidas from Jan. 1 after current CEO Kasper Rorsted mutually agreed with the supervisory board that he would step down and leave the company after Nov. 11, 2022. Adidas has been looking since August for a successor to Rorsted, who had initially planned to leave his post in 2023. Adidas said its chief financial officer, Harm Ohlmeyer, would lead the company in the interim until Dec. 31, 2022.

☆ Puma CEO Gulden to become new Adidas CEO - manager magazin
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: 1 min

Climate change, Russia-Ukraine war hit global wine industry:OIV, article with imageRetail & Consumer · November 3, 2022Climate change and the Russia-Ukraine war are squeezing global sales and production in the $300 billion global wine industry, which is still recovering from the pandemic, said the International Organization of Vine and Wine (OIV).

☆ Adidas in Talks With Puma Executive for CEO Role
▼ + stars: | 2022-11-04 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

Bjørn Gulden is a former professional soccer player who had led Puma since 2013. Struggling sportswear giant Adidas AG said Friday it is in talks with Bjørn Gulden , the departing CEO of Puma SE, to succeed its own chief executive. The news came minutes after Puma said it had appointed a new CEO to succeed Mr. Gulden, a former professional soccer player who had led Puma since 2013.

☆ Puma's outgoing CEO could lead Adidas next
▼ + stars: | 2022-11-04 | by ( Julia Horowitz | ) edition.cnn.com time to read: 1 min

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☆ Puma CEO Bjorn Gulden in talks to succeed Kasper Rorsted as chief of Adidas
▼ + stars: | 2022-11-04 | by ( Jack Stebbins | ) www.cnbc.com time to read: +1 min

Adidas announced Friday that it is in talks with Bjorn Gulden, the departing CEO of Puma , to succeed Kasper Rorsted as its chief executive. Adidas confirmed the talks with Gulden as a potential successor, but declined to comment beyond that release. Puma declined to comment. The company terminated its partnership with Ye's Yeezy brand after a series of antisemitic remarks from the rapper. They became rivals and broke off after World War II to start Adidas and Puma, respectively.

☆ Puma CEO Gulden set to become new Adidas CEO - source
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies Gulden to leave Puma at end of 2022Adidas confirms talks with Puma CEOShares up 20% after reportBERLIN, Nov 4 (Reuters) - Puma (PUMG.DE) Chief Executive Bjorn Gulden is leaving the German sportswear maker at the end of the year to take the helm at rival Adidas (ADSGn.DE), according to an industry source. Adidas confirmed that it is in talks with Gulden about possibly replacing Chief Executive Kasper Rorsted. Shares in Adidas were up nearly 20% after the report. "Bjorn Gulden had a very high reputation as Puma CEO, had been instrumental to the turnaround of the company and Puma's strong brand heat," Stifel analyst Cedric Lecasble said, adding that he could help strengthen the momentum of the Adidas brand. Reporting by Alexander Huebner, Writing by Miranda Murray; editing by Matthias Williams and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Adidas might try to dig out of its Yeezy crisis with a new CEO in what could be a 'first step toward better days' for the embattled company
▼ + stars: | 2022-11-04 | by ( Matthew Kish | ) www.businessinsider.com time to read: +3 min

Adidas is "in talks" with former Puma CEO Bjørn Gulden about becoming its next CEO. Investors responded favorably to the news, with Adidas shares climbing more than 20%. Adidas shares have now nearly recovered since Ye, formerly known as Kanye West, wore a "White Lives Matter" T-shirt and engulfed the company in controversy. In a one-sentence news release, Adidas subsequently confirmed it's "in talks" with Gulden, who stepped down as Puma CEO today. "Hiring Mr. Gulden as the next CEO would likely be a first step towards better days," Nikic wrote.

☆ Shopify's startup investments this year include millions into companies that focus on NFTs, Web3 apps, customer-engagement, and financial services
▼ + stars: | 2022-11-03 | by ( Madeline Stone | ) www.businessinsider.com time to read: +12 min

In its press release announcing the new funding, Wati said the investment was Shopify's first in a startup operating in Southeast Asia. The goal is to make Thirdweb's tools available to Shopify merchants who want to bring Web3 products and experiences to their online stores. Shopify recently participated in Gorgias' $30 million Series C round, which valued the startup at $710 million. According to the company, merchants using its technology report a 96% increase in sales on average. Flexport announced it had received a strategic investment from Shopify as part of its $935 million Series E on February 7.

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