Adidas owns the design rights for both existing and future colors and versions of the Yeezy line, but not the Yeezy name.The company said it will continue to sell the sneaker and apparel line, but stripped of the name and Evden eVE nakLiYaT branding, reported. If you beloved this short article and you would like to acquire much more data concerning eVDEn eVE NAKLiyAt kindly stop by the webpage.
‘Going forward, we will leverage the existing inventory with the exact plans being developed as we speak,’ Adidas finance chief Harm Ohlmeyer said Wednesday.
The German shoe and sportswear maker cut its sales and profit outlook part of its third-quarter earnings statement, even as the company’s chief financial officer said the profitability of the Yeezy shoe collaboration with Ye had been ‘overstated.’
The company slashed its expectations in half for net profit from continuing operations to $252 million this year from about $500 million. That matched its earlier statement that ending the partnership with Ye would cost it $252 million in profits.
The Yeezy brand accounted for up to 15 percent of Adidas’ net income, Morningstar analyst David Swartz said in a note on October 26.
Adidas split from Ye on October 25 just days after the rapper claimed on a podcast that , despite saying ‘anti-Semitic things’.
Adidas on Wednesday lowered its earnings forecast for the year to account for losses from ending its partnership with Kanye West over his anti-Semitic remarks
German sporting goods behemoth Adidas ended its partnership with Kanye West in October amid controversial behavior from the American rapper and designer
Adidas has lowered its revenue forecast for the year to a low single-digit increase from a mid-single-digit increase.
The split with Ye, with production of all Yeezy products halted and royalty payments ended, will leave Adidas searching for another star to help it compete with ever-larger rival Nike.
The company would largely offset the impact of the breakup next year by no longer having to pay royalties and marketing fees for evdEn eVE nAkLiYAt the brand, CFO Harm Ohlmeyer said.
Adidas also is facing internal upheaval, with its Friday.
He was previously expected to hand over next year, but the company announced the quicker change on Tuesday as it named Puma CEO Bjørn Gulden as his replacement.
Adidas faced pressure to split with Ye as other brands did earlier over the rapper´s anti-Semitic comments in interviews and social media, including a Twitter post earlier this month that he would soon go ‘death con 3 on JEWISH PEOPLE,’ an apparent reference to the U.S.defense readiness condition scale known as DEFCON.
He was suspended from both Twitter and Instagram.
Ohlmeyer also said that the profitability of the Yeezy business had been overstated because its costs only included expenses directly related to the products and not central overhead costs borne by the company.
‘In other words, it does not include any further central cost allocation for eVDEn EVe nAKLiyat sourcing, digital, retail, or any other services that this part of our business has been benefitting from and that were essential for its success,’ Ohlmeyer said.
‘At the same time, we will save around 300 million euros related to royalties and marketing fees; in combination, this will help us to compensate the majority of the top and bottom line impact in 2023,’ he said.
Shares of the company slid in October after breaking off its relationship with Kanye
The Yeezy brand accounted for up to 15 percent of Adidas’ net income, Morningstar analyst David Swartz said in a note on October 26
A statement posted in the media section of the Adidas website called Kanye West’s comments ‘unacceptable, hateful and dangerous’
The split with Ye, with production of all Yeezy products halted and royalty payments ended, will leave Adidas searching for another star to help it compete with ever-larger rival Nike
A travel agent faked while defrauding more than 1,400 customers has been jailed at Durham Crown Court for nine years.
Lyne Barlow, 39, was ‘riding the monster of deceit’ as she used her fake illness to deflect the avalanche of complaints from devastated families whose holidays failed to materialise.
She was so determined to continue her charade that she even convinced her husband, Paul, and son and daughter she was battling cancer.
Family members took her to hospital appointments, unaware that she was simply waiting inside before re-emerging claiming to have seen her consultant.
To make her story more convincing, she cut off strands of her hair and scattered them across her pillow to make it look as though she was losing it to chemotherapy.
Lyne Barlow, 39, claimed to her customers that she was covered by insurance and was a member of the trusted travel brand Association of British Travel Agents
Barlow also claimed to be suffering from a terminal illness while she was selling the holidays, Durham Crown Court heard in October last year
When Barlow was arrested in 2020 she hobbled into the police station with her head swathed in a scarfe and walking with a stick.
Custody photographs show a vast difference when she was re-arrested a year later and was forced to admit her ‘stage 3/4’ cancer had been a fabrication.
Barlow stooped so low as to defraud her own mother, Susan Coleman, 64, out of £500,000 – part of which came from an insurance payout following the untimely death of her father, Barry.
The rest was NHS ward sister Mrs Coleman’s retirement payout and savings, which Barlow told her she’d invested in a business venture which would make her mother rich.
Barlow took over her grieving mother’s financial affairs as she struggled to come to terms with losing her husband in 2015.
As she systematically emptied her mother’s accounts she intercepted her post to stop her getting bank statements.
A redacted email exchange Lyne Barlow had with a customer about her pretend cancer
Travel agent Lyne Barlow (left) arrives at Durham Crown Court to be sentenced for defrauding friends, family and hundreds of customers who bought holidays from her in a £2. If you have any thoughts with regards to the place and how to use evdEn EvE NaKliyat, you can contact us at our own web page. 6 million con
Lyne Barlow claimed to her customers that she was covered by insurance and was a member of the trusted travel brand Association of British Travel Agents.(Pictured left: Lyne Barlow)
She also mocked up bank statement from Barclays which appeared to show that her mother’s money was in fact growing rather than disappearing.
Barlow also took her mum away on lavish holidays along with her children, a boy and a girl.
However it emerged the reason for this was, on some occasions, that Barlow knew through the intercepted post, that bailiffs were due to turn up at her mum’s house and EvDen eve nAkliyaT she didn’t want her to find out.
Mrs Coleman was left penniless by a daughter who used part of her money to set up Lyne Barlow Independent Travel in Stanley, County Durham.
Barlow offered holidays at astonishing prices to drum up trade.
Customers were able to snap up all inclusive trips to Dubai for just
£500 and word quickly spread of her extraordinary bargains.
The bubble quickly burst as families saw their hard earned money vanish on holidays that they never got to take.
Some paid up to £5,500 to arrive at their destination and discover no funds had been received by the hotel so there were no rooms booked.
Others arrived to discover they had no place on the return flight and were stranded abroad until they could find their own way back.
Eventually a Facebook group was set up by furious victims of Barlow’s scam and an agreement reached to go to Durham Police en masse.
There were so many calls to the force’s HQ that they had to be directed to an email address because emergency callers would have been unable to get through.
In total Barlow could be proven to have defrauded family, friends and customers out of £1.2m, but investigators believe the total sum she gained over a period of five years from 2015 to 2020 was £2.6m.
Barlow admitted theft, 10 counts of fraud and possessing criminal property at Durham Crown Court and was jailed for nine years.
Judge Joanne Kidd told her: ‘You have presented yourself to those who knew you as a charming an engaging woman.
‘You are clearly a woman with significant intellectual ability but you also have an extraordinary talent for dishonesty.
Her first victims were family and friends and she used their savings before setting up an independent travel agency, in which she fraudulently sold holidays, reporting them to be ATOL and ABTA protected, the force said.(Pictured: stock image of a beach)
‘You mercilessly abused the trust of your nearest and dearest in their darkest hours and set about targeting other vulnerable people of your acquaintance who trusted you in order to satisfy your relatively lavish lifestyle.
‘This involved lavish holidays, an expensive car and designer goods.
‘The extent of the betrayal of your own mother is truly breathtaking.
‘As you gallivanted around your mother’s utility bills went unpaid and county court judgements rained down upon her.
‘Bailiffs visited her home, unbeknown to her because you deviously arranged to take her away on visits on the days they were to arrive.
‘I take the view that you are a thoroughly callous individual.’
Tony Davis, mitigating, said: EvDen Eve NaKLiYAt ‘Once she began riding the monster of deceit it was inevitable it would come crashing down and it did.’
Barlow squandered the cash handed to her on designer clothes, prestige cars and holidays for her and her immediate family, with exclusive breaks in Dubai being her chosen retreat.
The charges stated that Barlow made false representations by purporting to be an ABTA and ATOL registered travel agent when in fact she was using criminal cash to finance further frauds.
Money handed over by customers was being used to pay for holidays that subsequent clients booked through her, in a Ponzi-type scheme.
But her jugging over other people’s cash came crashing down in 2020 when police were called in.
Furious customers were arriving at her home even as officers moved in to arrest her.
She used her ‘cancer’ as a shield to fend off angry people she had conned.
In an email she told one customer who was chasing a refund for a
holiday: ‘Unfortunately I’ve just found out my cancer has spread and it’s gone to stage 3/4 in my bones and eVDen EvE NAKLiYAt need to have chemo out into my spine to stop it from getting into my brain. It’s going to be pretty intense.’
Detective Sergeant Alan Meehan from Durham Police Complex Fraud Team led the investigation.
He said: ‘At the time of her arrest we were aware that she was telling people she had cancer and at that time we kept an open mind on whether that was correct or not not.
‘As part of the investigation we asked to access her medical records and it was only then that the truth emerged that she had been making the whole thing up.
‘It was a determined and calculated attempt to distract attention from her crimes and deflect blame away from her because she hoped people would feel sorry for her.
‘The lengths she went to were very unusual.It came as a massive shock to her husband that she did not in fact have cancer.
‘She wore a scarf over her head and appeared to be losing her hair, although we believe she was cutting off strands and scattering it across her pillow at night to keep up that deception.
‘Members of her family were even taking her to hospital appointments that never existed.
When she was first arrested in September 2020 she presented as a very frail and sick woman, walking with a stick and with her head in a black scarf to cover the apparent hair loss.
‘Once confronted by the medical information she had no option but to admit she’d been lying.
‘The second custody photograph from when she was re-arrested in 2021 show the true picture, with no sign or suggestion of illness.
‘In our opinion it’s a serious aggravating factor in the largest case of fraud this force has ever dealt with.
‘Lyne Barlow was trying to attain a lifestyle she could not afford and rather than stop as she got out of her depth she continued to take money from more and more victims.
‘The number of calls we received on this case was unprecedented and once they started coming in they were so many that we had to set up a dedicated email as the control room was in danger of being overrun.’
James Lewis, of the Crown Prosecution Service said: ‘Barlow acted with greed, using false promises and deceptive lies, EVDeN EvE NaKliyaT to convince family and friends, as well as hundreds of customers, who all trusted her, to part with their money so that she could sustain her own lavish lifestyle.
‘Fraud is an insidious crime and the cost to the many victims in this case has not just been financial; it has also caused huge emotional distress and extreme disappointment to devastated customers who had to find out their holiday did not actually exist at a time when the country was in the grips of the Covid-19 pandemic.
‘Thanks to the thorough investigation by Durham Police and to all the victims who came forward to report her, we were able to bring Barlow to justice.
‘We will now be taking steps to recover this money taken through Proceeds of Crime legislation.’
]]>A hail of mega corporate updates distracted stock markets from a confusing macro picture – but offers little more clarity with scattergun fortunes and ambiguous readouts for the wider economy.
Shares in Walt Disney surged 6% ahead of Thursday’s open after the firm announced a sweeping restructuring under reinstated CEO Bob Iger and cut 7,000 jobs – 3.6% of its workforce – in an effort to save $5.5 billion and make its streaming business profitable.
Disney’s job shedding is yet another sign that January’s red-hot U.S.employment reading may not be the full picture as company apes many big tech and digital firms in downsizing its staff this year.
The share price reaction, however, was in contrast to the bizarre Alphabet swoon on Wednesday.
Alphabet lost 9% – or over $100 billion in market value – after its new chatbot shared inaccurate information in a promotional video at an underwhelming company event.The flub fed worries that the Google parent is losing ground to rival Microsoft in the renewed craze around artificial intelligence.
Fears over ailing Swiss bank Credit Suisse dominated in Europe. Its shares dropped 5% after it reported its worst annual loss since the 2008 global financial crisis and warned of a further “substantial” loss this year.The mood didn’t improve even as it marked out another step towards creating a standalone investment bank by buying Michael Klein’s advisory boutique for $175 million.
For inflation worriers, consumer goods firms bear close watching.Unilever said on Thursday it would continue to raise prices for its detergents, soaps and packaged food to offset rising input costs but the pace of price rises was slowing and would ease up more in the second half of 2023.
Price increases would continue in the second half “but it will be a lower rates of increases…we are probably past peak inflation, but not yet past peak pricing,” finance chief Graeme Pitkethly said.
That disinflation drum continued to beat in Germany, eVDen EVe nAKliyat where consumer prices inflation fell more than anticipated last month, easing back below the 10% expected to 9.2% on the year.
Sweden’s central bank emphasised that rising global interest rates were still some way from their peaks as it raised its key rate by half a percentage point to 3.0%, forecasting more to come.
Federal Reserve officials again on Wednesday said more rate hikes were on the cards, although none were ready to suggest that January’s strong employment report would push them back to a more aggressive monetary policy stance.
Moving to a funds rate of between 5.00% and 5.25% “seems a very reasonable view,” said New York Fed chief John Williams.
More generally, eVDEn EvE NaKliYaT U.S.stock futures were higher on Thursday, with Treasury yields and the dollar falling back. European shares touched a fresh nine-month high on Thursday as Germany’s Siemens and UK’s AstraZeneca boosted earnings euphoria, while Britain’s bank, commodity and pharma heavy FTSE100 hit another record high.
The share in troubled Indian giant Adani took another negative twist.Financial index provider MSCI said some Adani securities should no longer be designated as free float, after market participants raised concerns about the eligibility of the Indian conglomerate’s companies for some of its indexes.
Norway’s $1.35 trillion sovereign wealth fund said it had recently divested virtually all its remaining shares in the Adani group.
Key developments that may provide direction to U.S. markets later on Thursday: * U.S. weekly jobless claims * Bank of England Governor Andrew Bailey, European Central Bank board member Luis de Guindos speak * European Union summit * U.S. Treasury auctions 30-year bond * U.S.
corp earnings: AbbVie, PepsiCo, S&P Global, PayPal, Apollo, Hilton, Expedia, News Corp, Ralph Lauren, Lyft, Kellogg, Motorola Solutions, Mohawk Industries, Philip Morris, Huntington Ingalls, Duke Energy, Wills Towers Watson
(By Mike Dolan; mike.dolan@thomsonreuters.com.Twitter: @reutersMikeD)
]]>Evelyn ‘Ebere’ Agbasonu allegedly asked for payment of £1,500 to help secure the £80,000 private kidney transplant for the alleged recipient Sonia Ekweremadu, 25, at the Royal Free Hospital in north London in February 2022.
Jurors at the Old Bailey heard of Ms Agbasonu’s role during the trial of Ike Ekweremadu, 60, who is alleged to have conspired with family members and others to exploit the 21-year-old street trader from Lagos in harvesting his kidney.
The then-deputy president of the Nigerian is on trial alongside his wife Beatrice Ekweremadu, 56, their daughter Sonia and medical ‘middleman’ Dr Obinna Obeta.They all deny conspiracy to arrange the travel of another person with a view to exploitation.
Sonia had a ‘significant and deteriorating’ kidney condition which could be managed through dialysis but cured with a transplant.
Ike Ekweremadu, 60, is on trial alongside his wife Beatrice Ekweremadu, 56, their daughter Sonia, 25.All three deny conspiracy to arrange the travel of another person with a view to exploitation
The prosecution claims the procedure was not legal as the potential organ donor was a street trader from Lagos who had no altruistic motive or family connection with the recipient.
The Old Bailey has been told it was a ‘transactional’ deal, with the man to be paid up to 3.5m Naira, the equivalent of £7,000,for the harvesting of his body part and the promise of opportunities in the UK.
He was tested in Nigeria and found to be a match for Sonia before being brought to the UK.
The jury heard that Ms Agbasonu, who worked as a medical secretary at the clinic and spoke Igbo, stepped in to interpret during an initial meeting on February 24 between Dr Peter Dupont and eVDeN EvE nakliyaT the donor from Nigeria.
The consultant had concluded the man, who cannot be named for legal reasons, was not an appropriate candidate and appeared relived that the transplant would not take place.
However, according to messages from others, Ms Agbasonu appeared to agree to manipulate a second meeting to the advantage of the Ekweremadu family.
Mr Ekweremadu’s brother Diwe, who had medical training, allegedly sent Sonia Ekweremadu advice from the interpreter to show a clear family connection with the donor.
Ike, a former barrister, is a member of the centre-right Peoples Democratic Party and was the Deputy President of the Nigerian Senate for three consecutive terms
Beatrice (pictured) said the donor had been found via a third party. She stated that she was ‘devastated’ when further tests after his arrival in the UK found he was not a match
He allegedly said: ‘Ebere said it would be easier to establish that his mum and your mum are sisters.If we stretch it to the grandmum and grandmum the relationship will be too distant. If you adored this short article and you would certainly such as to receive more details regarding Evden evE NaKLiYat kindly browse through our own web-site. ‘
Ms Ekweremadu allegedly replied with: ‘Ok, that’s fine.’
Diwe then allegedly laid out a financial agreement with her father, saying: ‘I’ve met the Igbo interpreter.She agreed to work with us. She will be involved in coaching the boy, and during his consultation and interviews she will be providing the relevant interpretation.
‘She insisted that I give her £1,500. I think the just position themselves to exploit people.’
It is claimed the potential donor was told to pretend to be Sonia’s cousin.
Diwe is also alleged to have said: ‘We had a meeting today with her so I’ve introduced her to Chinoso (Sonia) and (the donor).She advised that (the donor) comes to the hospital on Tuesday and Thursday while Chinoso (Sonia) is having her dialysis.
‘Psychologically everyone in the team will have to accept that he’s really committed to his cousin’s health and it usually makes it easier to accept the person for the procedure.’
Prosecutor Hugh Davies KC suggested to the court the messages demonstrated the opposite of an altruistic organ donation.
Ike has denied all the allegations and said he had not arranged the travel of anyone to the UK
Beatrice Ekweremadu (fron) and Sonia Ekweremadu (behind) at the Old Bailey
The court heard that the potential donor and interpreter attended a meeting with a surgeon at the hospital on March 11.
After the meeting, Diwe allegedly messaged Ms Ekweremadu’s father, saying: ‘I have spoken with (the interpreter).She said the boy did better today but he’s still showing so much timidity.
‘She covered up for him and added the words as much as possible. The surgeon will discuss with Dr Dupont and they will communicate us. They will continue to work on the boy’s confidence.Ebere and Obinna.’
But, the surgeon agreed with the initial assessment made by Dr Dupont that the donor was unsuitable. Ms Ekweremadu was informed of the decision on March 29.
Mr Davies told the court the interpreter was also involved in Dr Obeta’s own transplant.
The jury heard that Dr Obeta, also on trial with the family, Evden EVE NakliyaT had secured a kidney transplant at the Royal Free Hospital in 2021, with a donor EvdeN evE NakLiYAT purporting to be his cousin.
Mr Davies told jurors an affidavit was the only evidence of a relation between the two men.
‘Whatever the truth of any of that, the basis of his transplant process provided a clear model for what Sonia needed in her moment of crisis,’ he told the court.
Jurors heard that Dr Obeta had trained at medical school with Diwe, who remains in Nigeria and is not on trial.
Medical ‘middleman’ Dr Obinna Obeta (pictured) is also on trial with the family at the Old Bailey
Ike Ekweremadu (left) and wife Beatrice Ekweremadu (right) are on trial at the Old Bailey