in terms adidas takes very seriously. indeed. in terms of — adidas takes very seriously. indeed.rms of the _ adidas takes very seriously. indeed. in terms of the banking _ adidas takes very seriously. indeed. in terms of the banking unrest, - adidas takes very seriously. indeed. in terms of the banking unrest, the | in terms of the banking unrest, the blame game continues with the regulators and the banks involved but now us politicians are asking questions. the but now us politicians are asking cuestions. , ., questions. the finger pointing towards regional— questions. the finger pointing towards regional banks - questions. the finger pointing towards regional banks and i questions. the finger pointing l towards regional banks and how questions. the finger pointing - towards regional banks and how they blew up so spectacularly over the last few weeks continues and we have a house hearing which will begin in about half an hour and yesterday there was a senate hearing and you saw the ranking members and the chairman of those committees really saying that this was a pretty clear ca

it's very difficult for adidas china has a problem.t slid by 50%, actually accelerating an already negative trend. it remains to be seen how they turnaround the business and n the country, which is very important for adidas what the new ceo of goldman's is saying is he's planning on getting rich off the policy to offer more and more discounts. he wants to reposition the brand in the upper market niche because what adidas did in the past is slim the market with loads of discounts that will be over. he has to reduce inventories, and that's why 2023 will remain a challenging year as i was saying, it's kind of a normal thing for a new ceo especially when the consideration is so dramatic to have sales sinking in the first quarter he's there slashing the dividends of 70 cents is quite a drastic move and that has moved the market, but actually shares have been coming back a little bit during the morning session. >> certainly expecting the market share to at least be eaten up by the likes of nike as well as puma then as well. thanks so much fo

joining us to discuss adidas' fourth quarter results is our analyst.e number stood out to me, $1.3 billion of inventory. what does adidas do with that? >> it has to get rid of it. that is the only way. that is why you are seeing margins get crushed this year, a strategy to reset in 2024. they can repurpose some of it. how they will do that is still a question, hence the 500 million euros write-down possibly this year. it is a lot of inventory. they did over a billion dollars in sales, was a significant piece of their profit margin, so they have to find another way to make up for that business and move forward. kriti: the ceo specifically said be ready for markdowns. that was a theme in retailers broadly in 2022, continuing into 2023, perhaps excel the rating for adidas. does this then disincentivize partnerships with creators like? poonam: i don't think it disincentivizes it. this is a unique relationship where the lines are being discontinued for particular reasons. how they deal with the promotions will be different from other clearing inventories be

min; sudden adidas drew back. why have they announced, have been as the reason?n? the statement was very official, _ as the reason? the statement was very official, i _ as the reason? the statement was very official, i said - as the reason? the statement was very official, i said they . was very official, i said they will withdrawal opposition, they didn't give any tangible reasons as to why. some branding experts had been speculating about this, they said any sort of opposition to black lives matters could be seen as opposition to the movement, ratherthan seen as opposition to the movement, rather than any commercial issues and ties, and they could be speculation that they could be speculation that they thought they could lose it because they have lost things like this in the past. this isn't the _ like this in the past. this isn't the first _ like this in the past. this isn't the first time - like this in the past. this isn't the first time they l like this in the past. this isn't the first time they have lost any type of case against defending their logo, it i

adidas results are imminent.l the european sports giant take the rap for its fallout with kanye west? we will find out next. this is bloomberg. ♪ these days, our households depend on the internet more and more. families grow, houses get smarter, and our demands on the internet increase. that's why we just boosted speeds for over 20 million xfinity customers, on us. so you get more of the speed you need for day and night streaming. more speed you need when you're work from homeing. and more speed you need as your family keeps growing. check in on your current speed through the xfinity app or upgrade to the speed that's right for you today. when people come, they say they've tried lots of diets, nothing's worked or they've lost the same 10, 20, 50 pounds over and over again. they need a real solution. i've always fought with 5-10 pounds all the time. eating all these different things and nothing's ever working. i've done the diets, all the diets. before golo, i was barely eating but the weight wasn't going anywhere

ed is a bit of a challenge for adidas.ing up, ig group chief executive junie felix will join us in the finance sector in the post-pandemic world. that conversation next. the health of the retail investor as well. this is bloomberg. ♪ go wind turbines. go gorgeous reliable grid. go emerson software. go science people. go breakthrough meds and safe science. go space age welds for super silent cars. go big. or go home. from software that delivers new cures at warp speed, to technology that makes clean energy reliable, emerson innovation helps make the world healthier, safer, smarter and more sustainable. go boldly. emerson. everything's changing so quickly. before the xfinity smarter a10g network,ainable. we didn't have internet that let us play all at once. every device? in every room? why are you up here? when i was your age, we couldn't stream a movie when the power went out. you're only a year older than me. you have no idea how good you've got it. huh? what a time to be alive. introducing the next generation 10g network.

. >>> adidas reported a massive financial loss, and airbnb is offering a unique opportunity for "tedories and more in the cbs "money watch" report. >> reporter: even as the fed chairman took pains to say no decision has been made on march's rate hike, the market ended mixed at the insecurity. the dow was down 58 points. nasdaq up 45, while the s&p 500 also ended up 5 points. >>> and tesla is under investigation over concerns the steering wheels on some vehicles could fall off. the national highway traffic safety administration said it received two complaints from owners of the 2023 y models. officials said they will investigate tesla's autopilot feature following a fatal crash with a system suspected of being used when it hit a parked fire truck. >>> and adidas took a birth -- took a big fourth-quarter loss last year. the result of the company breaking ties with ye, the rapper formerly known as kanye west, over his anti-semitic remarks. the net loss amounting to $500 million. adidas predicts a 2023 operating loss of $750 million which could increase if the company doesn't repurpose t

josh, you've quoted adidas . adidas takes the adidas. the 1 billion rap, i guess as a pun there. yeah. paul carney, a west . so they have about $500 million or euros in stock left on sold . weirdly enough, the on sold. weirdly enough, the stuff that's online that is available like private sellers is actually selling a premier right. and they've had a pretty terrible four years. and it's not just because of carnegie, even though i don't think appreciate how much of their stock was into that , how stock was tied into that, how much they were selling because of him. but also in china , to be of him. but also in china, to be fair, they they actually up in china and said, no, we're not going to use any more of this cotton sourced by based cotton that was sourced by based by labour, the uighurs, by slave labour, the uighurs, the genocide that's going on. fair enough for them standing up for that. but then china turned around well, we're around and said, well, we're going you. they're going boycott you. so they're having with having real proble

josh, you've quoted adidas . adidas takes the adidas. the 1 billion rap, i guess as a pun there. yeah. paul carney, a west . so they have about $500 million or euros in stock left on sold . weirdly enough, the on sold. weirdly enough, the stuff that's online that is available like private sellers is actually selling a premier right. and they've had a pretty terrible four years. and it's not just because of carnegie, even though i don't think appreciate how much of their stock was into that , how stock was tied into that, how much they were selling because of him. but also in china , to be of him. but also in china, to be fair, they they actually up in china and said, no, we're not going to use any more of this cotton sourced by based cotton that was sourced by based by labour, the uighurs, by slave labour, the uighurs, the genocide that's going on. fair enough for them standing up for that. but then china turned around well, we're around and said, well, we're going so they're going boycott you. so they're having with having real problems

unlike other implementations, adidas has made its own application.uite alive and even recently updated in the great country. and this is the truth of cruel shocks. the death of thousands of people, the state was going again into a single system of a rigid centralized control system into the world and a new person. someone doesn't have this memory, but it is this memory. china's army is ready to cooperate with the russian armed forces said the prc defense minister on what scale? how did the visit to the kiev-pechersk lavra of the commission of the ministry of culture of ukraine ended its ultimatum to the monks and glasses. relations between russia nicaragu on the agenda of negotiations between the foreign ministers of the two countries in moscow details detained wall street journal journalist on suspicion of espionage reports fsb american gershkovich accredited to the russian foreign ministry as a correspondent of the moscow bureau of the newspaper he is suspected of spying for the interests of us government intelligence agencies. he acted on the inst

adidas has dropped its opposition to a three—striped design used by the black lives matter group. regulators to deny blm a trademark on a logo that featured three parallel yellow stripes. stephanie prentice told me more. it thinks that its logo is far too similar to the black lives matter one and could cause confusion for people buying its products and even suggests commercial alignment when the two. i think we can look at them side—by—side. two. i think we can look at them side-by-side.- two. i think we can look at them side-by-side. they say it is the cornerstone _ them side-by-side. they say it is the cornerstone of _ them side-by-side. they say it is the cornerstone of its - is the cornerstone of its branding and sportswear empire. black lives matter have been using their logos for around a few years and applied to trade market in 2020. that would have given them far more scope for things like merchandise including apparel. unlike initially there would be a fight over this, but all of a sudden, everyone drew back. truth? sudden, everyone drew back. why have they announced that

that i, what do the shoe palace and adidas have to do with advancing stem education?hey are back in the launching textbased education tours across the country. we will tell you all about it and talk to those involved and see if you have a young coder who wants to join in the fun. also music education is important to students though not everyone can afford an instrument and not every school offers enough. a bay area nonprofit is kicking of a donation drive. we will ask trodetofe- governory announced a bold plan to turn the infamous saint quentin princeton into a place where --e prisoners can receive an education, training, and rehabilitation. >> we have to be in the homecoming business. it's not just about rehabilitation. it's about homecoming. 800 plus people again every year coming out of this. coming out of this institution. you want folks coming back feeling better. kristen: joining us live now to talk about the proposal and how workable it might be, susan champion, deputy director of the three strikes project at stanford law school. thanks for your time. >> thank

adidas has had its own struggles that we know about the currently getting 1.6%.ex gaining 1.6% as well. we will see whether it can be sustained as we look at the recession risks that is a key question for the sector. across the sector, gains of 2.3% with optimism coming through from h&m. francine: we also look at the luxury sector and there's a great by alexander and julian on the bloomberg terminal saying that because luxury goods have been booming so much partly because of the reopening in china and partly just the rich are getting richer and able to buy more goods, it could make them attractive m&a targets. they talk about burberry but also some of the others including todd of italy and we will see if there anything they are going forward. i don't know whether there is space for more consolidation given there are these two big groups that dominate within the space internationally. tom: there is the pricing power as well, the fat companies in the luxury space have been able to show and pass on higher input costs to wealthy consumers. that seems to be a trend th

like the one in the photo, black and gray pattern, adidas shoes and a black backpack. if you see him contact mountains, the police immediately. and this morning we're learning that one of the twin boys that was in a crash that killed his mother last week. and we're dale has now died. the crash happened last thursday. police say they were in pursuit of a suspected car theft when that suspect crash right into another car being driven by the twins. mother. she died right there. the scene now her 6 year-old twin boys. we're also riding with her at the time. both were taken to the hospital. police arrested 20 year-old ralph white. the 3rd and they've charged with vehicular homicide at this time. when 11 year-old fairfield girl has died just days after she was hit by a suspected drunk driver on thursday morning. tara jackson was walking in a crosswalk on our way to school. police say 32 year-old alina lindsay mcgraw, oregon's hit the girl with the suv. now, tara was flown to children's hospital in oakland, critical condition. her mother had to make the difficult decision thi

one name to highlight for you in particular is adidas, the sportswear giant they're bracing for anotherough year after posting an operating loss of 724 million euros in the fourth quarter as china sales plunged by half. it cut its dividend this morning to 70 cents a share. it's a huge fallout from the termination of the yeezy partnership. >>> silvana henao is here with the stories this morning. >> good morning to you warren buffett adding to his stake. the company just bought another 5.8 billion shares over the past three trading days, ranging in price from $59.80 a share to $61.90, this latest buy totally $350 million now brings berke shir's total stake to $12.2 billion or just over 200 million shares in oxy. >>> a new plan would give the biden administration the power to ban tiktok in the u.s the bill would allow the commerce department to review deals, software updates, and data transfers in which a foreign adversary has an interest and report this morning that crypto bank's in talk with regulators to avoid a shutdown at silvergate. they're lining up new investors. bloomberg notes fd

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it's a packed show today so let's quickly kick off with the sportswear giant adidas. application by the black lives matter movement which it said infringed its copyright. blm is seeking to register a logo with three parallel yellow stripes.

adidas had said it was too similar to its famous three—stripe mark which has featured on its productsge is growing in mexico following a fire at a migrant centre in siudad huarez that killed 38 migrants. unverified footage has emerged, which appears to show the moment the fire started at the centre run by mexico's national migration institute. i want to warn you — these pictures are distressing. uniformed officials seem to walk away as the blaze erupts in a corner, leaving a group of men behind in what appears to be a locked cell. the imprisoned men unsuccessfully try to open the barred door as smoke quickly spreads. the 32—second clip appears to come from a security camera inside the facility, which is located just south of the border crossing at the stanton—lerdo bridge, which links ciudad juarez with the city of el paso in texas. our correspondent in mexico city will grant has more. well, the footage isjust one of the questions, it's perhaps the key one at this stage. it appears to have been leaked to the media in ciudad juarez, and certainly the government hasn't denied its veraci

adidas, too. adidas is still 50% off the peak 21 levels, while nike 30% below highs.o with these kind of stocks and this climate? >> look, this is a challenge, first and foremost, you have to remember, this is the kind of apparel and buy that is not necessary. right? and, you know, add to that the fact that they're going to lose a billion dollars of production revenue off of, you know, dropping kanye and that's going to hurt them about a half billion dollars worth of profitability that's not a great situation to be going into potentially a worse recession than we were expecting. i think most investors were expecting a short, shallow recession. powell's comments today don't support that >> that's really interesting can you highlight that i was going to ask about the broad markets. is that what you think the main take away is this morning? >> i do think that what powell is saying is that he is going to keep raising rates until he sees inflation back off, and the problem that we see with that is that what's driving that inflation is a shortage of human beings, of people,

adidas had said it was too similar to its famous three—stripe mark, which has featured on its productsbc news. still to come: a colossus has landed in london. one of the biggest animals ever to walk the earth goes on show at the natural history museum. the accident that happened here was of the sort that can, at worst, produce a meltdown. in this case, the precautions worked, but they didn't work quite well enough to prevent some old fears about the safety features of these stations from resurfacing. the republic of ireland has become the first country in the world to ban smoking in the workplace. from today, anyone lighting up in offices, businesses, pubs and restaurants will face a heavy fine. the president was on his way out of— the washington hilton hotel, where he had been addressing a trade union conference. - a small crowd outsidej included his assailant. it has become a symbol of paris. 100 years ago, many parisians wished it had never been built. the eiffel tower's birthday is being marked by a re—enactment of the first ascent by gustave eiffel. this is bbc news. the latest he

stars don't come any bigger than beyonce but she and adidas have mutually agreed to part ways.ark, which is the brand that adidas was backing. wasn't doing well in terms of the sales of the last few years. so they' decided to split up by what is called major creative differences. if this is confirmed, second collaboration that adidas is doing away with after kanye west had the anti-semitic comments. so it does seem like an end to a popular by some accounts. >> beyonce is a free agent. thank you so much. >>> still ahead here on "way too early," president biden weighs in on the civil unrest in israel amid prime minister benjamin netanyahu's plans for an overhaul. those comments next. r an overhaul those comments next. age is just a number, and mine's unlisted. try boost® high protein with 20 grams of protein for muscle health versus 16 grams in ensure® high protein. boost® high protein. now available in cinnabon® bakery-inspired flavor. learn more at boost.com/tv with powerful, easy-to-use tools power e*trade makes complex trading easier react to fast-moving markets with dynamic

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adidas shoes and a black backpack. you see him, please contact mounted police. in the south. a little girl is left without her mother now and their beloved dog after a driver plowed through a side a crosswalk sunday evening in south san jose. police say their detectives are working right now nonstop trying catch that driver kron four's. justin campbell has the story. >> in less than 24 hours, san jose police say they have identified the driver of that car and that suspect is now sitting behind bars. >> these home surveillance video shows a honda sedan plowing to the intersection of blossom hill road and lake avenue sunday evening, a neighbor heard the crash. her daughter, a nurse, ran out to help. unfortunately, 45 year-old challah mean and her dog died daughter suffered non-life-threatening injuries just to think of the poor. >> daughter helped a witness. was in her mom was just. us. >> sunday was especially hard for elizabeth more. corey person was also struck by a hit and run driver and highway 87 in 85. >> i was just left there to act. then for himself. why police impasse

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adidas has to figure out what to do with all of these shoes.ne of their options is burning them, which seems like burning a pile of shoes is historically a bad look for germany in general. [ laughter ] the other option would be to donate them to disaster relief organizations to help people in places like turkey and syria. i don't know. it's a tough call. [ applause ] what would yeezus do in this situation? [ laughter ] the other problem with the shoes is they look like this. [ laughter ] they look like what happens if you put a pair of crocs in the microwave. [ laughter ] maybe what they could do is tie all the shoes together, make a giant raft and then push kanye out to sea on it. [ cheers and applause ] he could probably use a raft. in the far west valley where he lives, they had more than 10 inches of rain over the weekend. my house, we just keep getting the leaks repaired. it rains, it leaks, we get it fixed, they say it's good now, then, four months later, it rains again and we've got buckets all over the floor. it even snowed here this we

get in the spring mood with adidas bright outfits for training and outdoor activities with discounts on wildberries look what cool unplanned purchases can also be a joy. you can give it back in a month, or you can give it back in six months to a gazprombank credit card for 180 days without interest and extra conditions forever on the first purchase. back to presidential agenda, to what extent russian transport is ready for increased work, the upcoming holiday season today, vladimir putin discussed with transport minister vitaly savelyev, the minister noted that this year it is planned to transfer more than 100 million people by plane alone, in addition, dozens of new trains will be launched in first of all to the crimea, while, according to savelyev, security issues. now there is a lot of attention. you and i wanted to discuss, uh, issues related to the forthcoming work of the transport complex during the summer holidays summer season, prepared as part of organizational groups in odessa places, we rest. we want to please our passengers and will transfer more than 620,000 children in

two days ago, adidas was going to take the black lives matter movement to task in a trademark dispute—— that it would divert. the trademark applied for by black lives matter had three horizontal yellow line so people can decide whether they agree with the company or not but adidas does have a history of pretty robust defence of its trademark dating back to the early 20005 when they fought the likes of forever 21 and marc jacobs and also against the designer tom brown where actually tom brown was successful in being able to use four stripes on his clothing.- four stripes on his clothing. thank ou for four stripes on his clothing. thank you for that- _ here's a rather profound quesion of the day: is artificial intelligence a threat to society and humanity? well, a group of ai experts and industry execs including elon musk believe so. they have signed an open letter calling for a six—month pause on advanced ai development. that's training sytems more powerful than 0penai's newly launched chat gpt. and here in the uk, the government has set out its plans to regulate ai with new guidelines

he was wearing black adidas pants with white stripes. you see him there in that black columbia jacket with rope through trim. he was also wearing black and gray pattern. adidas shoes and a black backpack. if you see him, please contact the police. in the south. a little girl now is left without a mother and their dog after a driver plowed through a crosswalk sunday evening in south san jose. police say their detectives are working right now to try to catch the driver. crawford's justin campbell has the story. >> in less than 24 hours, san jose police say they have identified the driver of that car and that suspect is now sitting behind bars. >> these home surveillance video shows a honda sedan plowing to the intersection of blossom hill road and lake avenue sunday evening, a neighbor heard the crash. her daughter, a nurse, ran out to help. unfortunately, 45 year-old challah mean and her dog died daughter suffered non-life-threatening injuries just to think of the poor. >> daughter helped a witness. was in her mom was just. us. >> sunday

ad adidas, the company reporting a net loss the kanye problem continues to be a massive issue for thisfinancials warning of the first annual loss in a long time they took a big loss this fourth quarter and slashed the dividends, david, by 80% goes from bad to worse for adidas they're having other issues but the kanye issue -- >> why don't you explain it again for those who may not have been following the day-to-day. >> they terminated the relationship with kanye, it took them too long, three weeks after his anti-semitic tirade and threat so they did that and were left with inventory on their books and lost sales, the estimates were 5 to 6% of overall revenue. he was so hard to work with. bashed them throughout the relationship they waited too long they did it too late now they're suffering and they have to explain themselves >> just want to take you -- so adidas down more than half a percent. take you to washington, capitol hill where jay powell is taking questions from members of the house committee. sorry, we're not going to go to that now we're going to wait and hear further questio

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