Skip to main content

Adidas has cut its ties with Kanye West.

 


Adidas has cut its ties with Kanye West, condemning his anti-Semitic remarks in a move likely to halve the sportswear maker’s profits this year. The decision to drop the rapper and fashion designer, now known as Ye, comes after an interview in which he claimed he could «say anti-Semitic things, and Adidas can’t drop me». Those remarks followed West’s wearing a «White Lives Matter» shirt at the Paris Fashion Week. The line had become a significant source of profit for Adidas.The impact of the decision to cut ties with West pointed to «remarkable profitability for the Yeezy franchise», said James Grzinic, a Jefferies analyst. The relationship between Adidas and West was already strained. Adidas had put its tie-up with West under review after «repeated efforts to resolve the situation privately, the company said. In addition, Kering’s Balenciaga brand ditched West this month.

www.sba.tax

Labels:

Comments

  1. Kaylee28 October 2022 at 12:30

    It's so sad to see an artist like Kanye lose himself like this. It almost makes me cry. I mean, to have all this fame and be so known for what? To spew hate like this? Why? Why would you say these things? Why wouldn't you use your power to unite people?

    ReplyDelete
  2. Elijah30 October 2022 at 21:50

    Unfortunately it seems clear to me that Kanye has serious mental problems. It's been obvious for some time now and things will only get worse unless he gets some much needed help. And there will be more companies that will also drop Kanye soon.

    ReplyDelete
  3. Hailey2 November 2022 at 19:10

    I remember when Kanye was happy about what he was doing, about creating. And he exuded this happiness and everyone wanted to be around him. Now he is the exact opposite and people are starting to walk away from him.

    ReplyDelete

Post a Comment

Cloud Bookkeeping

HS2 cost cuts new routes and add delays.

 Trans­port depart­ment offi­cials have begun work on «Project Sil­ver­light» sug­gest­ing the high­speed rail scheme might face four addi­tional years of delay. The planned High Speed 2 rail line faces fur­ther delays of up to four years and more cuts to the project under plans being drawn up by min­is­ters to rein in its bal­loon­ing costs. The extra delays to the coun­try’s biggest infra­struc­ture project would mean that it would not be com­pleted until as late as 2045 — 12 years after ori­gin­ally planned. «This is a func­tion of infla­tion; we are hav­ing to find huge sav­ings because the cost of everything the depart­ment is already doing will have become so much more expens­ive by then,» said one gov­ern­ment offi­cial. In Octo­ber, the FT repor­ted that the Treas­ury had asked HS2’s man­age­ment team to identify poten­tial cuts or «scope reduc­tions» to the high-speed line. Trans­port depart­ment offi­cials have sub­sequently begun work on Project Sil­ver­light aimed at fi...
4 comments
Read more

Doubt on CS's collateral.

  Credit Suisse provided an emergency $140mn loan to Greensill Capital based partly on invoices to companies that deny ever doing the business stated on the documents. The Swiss bank provided the loan in October 2020, less than five months before the collapse of Greensill, a supply chain finance firm that counted former British prime minister David Cameron as a senior adviser. Invoices issued by metals magnate Sanjeev Gupta’s Liberty Commodities and sold to Greensill formed part of the collateral for the loan, according to documents seen by the Financial Times and people familiar with the transaction. Yet several of the parties named on the invoices have told the FT they did no business with Liberty. GFG has consistently denied any wrongdoing. Credit Suisse’s loan had a clause dictating that the collateral value had to be equal to or greater than the $140mn borrowed. The terms of the debt agreement only allowed invoices on Green-sill’s balance sheet to count towards this tally if t...
2 comments
Read more

Tax cut

  Sterling tumbled against the dollar to below $1 . 09 ,  hitting its lowest point since 1985 ,  after UK chancellor Kwasi Kwarteng unveiled a £45bn debt-financed tax-cutting package that sparked a historic increase in borrowing costs .  Kwarteng’s political and economic gamble includes the biggest set of tax cuts for 50 years ,  with the end of the 45p additional rate for the highest earners as well as a sharp reduction in levies on dividends .  But concern over the amount of debt required to finance the tax cuts triggered a frenetic day of trading that raised doubts on whether Britain’s new economic approach was sustainable .  «Britain will be remembered for having pursued the worst macroeconomic policies of any major country in a long time» . Kwarteng has staked the political fortunes of the Conservative party on the bet that the radical tax cuts and deregulation will raise Britain’s sluggish growth rate to 2 . 5 per cent .  «This is a new appr...
Post a Comment
Read more