Russia downs 34 Ukrainian drones targeting Moscow
Russian air defence systems destroyed 34 Ukrainian drones that targeted Moscow through repeated attacks overnight and forced a temporary closure of tw...
Shares in Nike, Adidas, and Puma fell sharply after the U.S. imposed steep tariffs on Vietnam, Indonesia, and Cambodia, key sourcing hubs. The move raises concerns over rising costs and supply chain disruptions, adding fresh uncertainty to global markets.
Shares in leading sportswear brands Nike, Adidas, and Puma tumbled on Thursday following U.S. President Donald Trump’s announcement of sweeping new tariffs. The latest trade measures impose a 46% tariff on Vietnam, 49% on Cambodia, 37% on Bangladesh, and 32% on Indonesia, key manufacturing hubs for the industry. China also faces an additional 34 percentage point hike, further escalating trade tensions.
Nike, which sourced 50% of its footwear and 28% of its apparel from Vietnam in its 2024 financial year, saw its Frankfurt-listed shares drop 6.5%. Adidas shares fell 9% to a one-year low, while Puma plunged 8.5%, hitting its lowest level since November 2016.
Adidas relies heavily on Vietnam, which accounts for 39% of its footwear production, with Indonesia and Cambodia contributing 32% and 23%, respectively. Analysts warn that these higher tariffs will disproportionately impact the sportswear sector, leading to potential cost increases and supply chain disruptions.
The tariffs add fresh uncertainty to the global economy, with investors closely watching how these brands navigate rising costs and shifting trade policies. Market analysts anticipate further volatility as companies assess their sourcing strategies in response to the trade war escalation.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
Snapchat will start charging users who store more than 5GB of photos and videos in its Memories feature, prompting backlash from long-time users.
Türkiye’s main stock index, BIST 100, closed on Friday at 10,941.79 points, recording a 3.14% increase.
Türkiye has emerged as Europe’s largest steel producer and the world’s seventh largest in the first eight months of 2025, producing 36.9 million tonnes last year, according to sector officials.
Germany’s Adidas increased its full-year profit guidance, saying it managed to cushion some of the extra expenses resulting from higher U.S. tariffs.
Germany’s Adidas on Tuesday raised its full-year operating profit forecast, saying it had successfully offset part of the additional costs caused by higher U.S. tariffs.
New Zealand's annual inflation accelerated in the third quarter, reaching 3.0%, which aligns with analysts' expectations and is at the upper end of the central bank's target range, according to official data released on Monday.
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