List of All Articles with Tag 'europe'

Multiple explosions were heard in Kyiv early Tuesday, marking the eighth Russian attack on the capital this month.

Asian equities are poised for a mixed opening as traders continue to look for clues of any breakthrough

The G7 finance leaders promised support for Ukraine in a show of unity against Russia’s war as Moscow acknowledged that some of its soldiers have fallen back north of the city of Bakhmut. “We call for an immediate end of Russia’s illegal war against Ukraine, which would clear one of the biggest uncertainties over the global economic outlook,” the G7 ministers said in a statement. Russian defence ministry spokesperson, Igor Konashenkov, said Ukraine had launched an assault north of Bakhmut with more than 1,000 troops and up to 40 tanks, a scale that if confirmed would amount to the biggest Ukrainian offensive in some time. The Russians had repelled 26 attacks but troops in one area had fallen back to “regroup” in more favourable defensive positions near the Berkhivka reservoir northwest of Bakhmut, Mr Konashenkov said. It is the first admission from Moscow’s defence ministry that Ukraine has been successfully regaining ground around Bakhmut, which Russia has been trying to take control of for months. Read More UK to send Ukraine long-range Storm Shadow cruise missiles, defence secretary confirms Is Russia competing at Eurovision and can Russian viewers vote? Russian woman who left note on grave of Putin's parents convicted amid dissent crackdown

Group of Seven finance chiefs put more aid on the table for Ukraine, set up a new supply

China will send a special envoy to Kyiv on Monday, marking the first high-level visit from the Chinese

WARSAW The European Union could see another record number of people seeking to reach its borders this year

UBS Group AG Chief Executive Officer Sergio Ermotti gave his strongest indication yet that the Swiss government and

The European Central Bank may have to continue raising borrowing costs beyond the summer, according to Governing Council

China will send a special envoy to Ukraine from Monday, according to the Foreign Ministry, as Beijing tries

The UK economy shrank unexpectedly in March as households turned more cautious and strikes hit activity across a

After months wrestling over the fate of milions of unsold Yeezy shoes, Adidas has decided to sell a portion of its remaining inventory and donate the proceeds to chartitable organizations, CEO of the German sportbrand Bjørn Gulden said Thursday. Adidas cut ties with Ye, the rapper formerly known as Kanye West, in late October, following his antisemitic comments on social media and in interviews. As a result, the fate of 1.2 billion euros ($1.3 billion) worth of the unsold Yeezys, a lucrative sneaker line launched with Ye, was unknown. At Adidas' annual shareholders meeting, Gulden said the company had spent months trying to find solutions. The CEO also added that Adidas spoke to NGOs and organizations that were harmed by Ye's comments and actions. “Burning those shoes cannot be the solution,” Gulden said, noting that Adidas was going to try to sell part of the remaining Yeezy inventory and “donate money to the organizations that help us and were harmed by what Ye said.” Exact details of this plan — including how many shoes will be sold and the timeline of selling them — remain unknown. Gulden said the company will provide updates as they moves forward. The move comes as Adidas is trying to stage a comeback and move beyond the Yeezy partnership. Cutting ties with Ye has cost Adidas hundreds of millions of dollars — with the company taking a loss of 600 million euros ($655 million) in sales for the last three months of 2022, helping drive the company to a quarterly net loss of 513 million euros. Adidas reported 400 million euros ($441 million) in lost sales at the start of 2023, the company announced last week. Net sales declined 1% in the first quarter, to 5.27 billion euros, and would have risen 9% with the Yeezy line, the company said. It reported a net loss of 24 million euros, a plunge from a profit of 310 million euros in the same period a year ago. Operating profit, which excludes some items like taxes, was down to 60 million euros from 437 million euros a year earlier. Meanwhile, Adidas is also facing a class-action lawsuit from investors who allege the company knew about offensive remarks and harmful behavior from Ye, years before terminating its pact with him. Adidas has pushed back on the allegations made in the lawsuit. Still, Gulden reminded investors that the nine-year partnership Adidas and Ye was “sensational." While he noted that Ye is a difficult person, “he's the most creative person in our industry,” Gulden said. “He created a model with Adidas that was sought after around the world.” But he added, “We lost that in a month." _________ AP Business Writer David McHugh in Frankfurt, Germany, and AP Retail Writer Anne D'Innocenzio in New York contributed to this report. Read More Ukraine war’s heaviest fight rages in east - follow live Charity boss speaks out over ‘traumatic’ encounter with royal aide Adidas breakup with rapper Ye, lost Yeezy sales hit earnings Putin’s spokesman threatens ‘adequate response’ over UK missile pledge – live Boost for Erdogan rival as struggling candidate quits Turkish election race

Oil rose - following a two-day decline — as the US signaled it may start refilling the Strategic