Adidas sees sales hit
German sportswear company Adidas warned on Wednesday of a 1 billion euro ($1.2 billion) hit to sales from factory closures in COVID-hit Vietnam and supply chain bottlenecks that it expects to affect business into next year. Adidas has launched an action plan to try to revive its fortunes in China, long its most important growth market. It has set up a dedicated studio to generate faster marketing and is increasing its creation of products just for the Chinese market.
Facebook’s performance over 5 years. (Source: Investing.com) *
NASA, SpaceX set to launch space station’s next crew to orbit
Elon Musk’s private aerospace company, SpaceX, was scheduled to launch four more astronauts on the International Space Station for NASA on Wednesday. The latest mission also follows a flood of recent major Astro tour flights. In July, two rivals, SpaceX, Blue Origin and Virgin Galactic Holding Inc., launched return flights with their respective billionaire founders, Jeff Bezos, and Richard Branson, who accompanied them.
Technological giant Google lost in the trial
Google has lost its bid to lift an antitrust fine of 2.4 billion euros. Google (GOOG) on Wednesday morning loses appeal over annulment of European Commission’s 2017 decision to impose a $ 2.4 billion fine on technology giant. The Commission stated that Google had favored its own price comparison service over competing services. The proposed fine was a record at the time it was imposed. Although it is in these views of the state, it only costs five days of Google’s annual consumption.
Biden wants to solve high gas prices
High energy prices are a growing political problem for President Biden, and the administration is talking more about taking steps to reverse the growth of products such as petrol. The president wants to wean the United States off oil to slow climate change and has put in place policies to make drilling less harmful to the environment. However, he is now concerned about the high price of oil and is therefore asking OPEC to speed up production.
Cryptocurrencies have reached market value
The crypto market has reached an all-time high, reaching a market capitalization of 3 trillion million, as the world’s two largest cryptocurrencies have risen to record highs. The global market capitalization of cryptocurrencies has increased fivefold since November last year, reaching 578 million.
Watch this week:
On Thursday, European Central Bank Forecast, which covers the outlook for the euro area, in particular with regard to GDP and inflation.
On Friday, will be released a survey done by the US Bureau of Labor Statistics to help measure job vacancies. It collects data from employers about their businesses’ employment, job openings, recruitment, hires and separations.
* Past performance is no guarantee of future results