Reebok may not be the old man shoe for long. Adidas AG said that it had agreed to sell the brand —the maker of the Reebok classic that was briefly the most in-demand “Dad” sneaker around — to Forever 21 owner Authentic Brands Group Inc. The price could end up being 2.1 billion euros (close to $2.5 billion). The sale ...

In just a few months, the rental market in many New York City (NYC) neighbourhoods has flipped from stagnant to red hot. The value of move-in incentives to entice renters in Manhattan hit the lowest in a year as of July, according to appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. In Brooklyn, new lease signings were the ...

One of the saddest stories of the year has gone largely unreported: the slowdown of political and economic progress in sub-Saharan Africa. There is no longer a clear path to be seen, or a simple story to be told, about how the world’s poorest continent might claw its way up to middle-income status. Africa has amazing human talent and brilliant ...

Bloomberg China continues to announce new steel mills and coal-fired power plants even as the country maps out a path to zeroing out heat-trapping emissions. State-owned firms proposed 43 new coal-fired generators and 18 new blast furnaces in the first half of 2021, the Centre for Research on Energy and Clean Air said in a report. If all approved and ...

Bloomberg The global gas rally left a bitter aftertaste for one US shale driller that posted negative revenue after it had to write down the value of its output hedges. Vine Energy Inc reported negative revenue of $64.5 million in the second quarter, leading to a $360 million loss for the period, according to a filing with the US Securities ...

Bloomberg Airbus SE’s dedicated freighter is drawing interest from major cargo firms, after the European planemaker got board approval to launch the jet late last month. Airbus confirmed in late July its directors had signed off on a plan to produce a freighter version of the A350 jet by 2025, enabling it to counter rival Boeing Co’s dominance of the ...

Bloomberg Flag carrier PT Garuda Indonesia has shrunk its management to reduce costs as the airline restructures its way out of a pandemic-driven financial crunch. Garuda now has only six directors, removing the position of vice president director and merging services and business development director with commercial and cargo director, President Director Irfan Setiaputra said in a press conference after ...

Bloomberg India is set to allow Boeing Co’s 737 Max jets to resume flights in the country within days, according to a person familiar with the matter, clearing one of the last remaining hurdles for the US planemaker as it seeks to get the model flying again worldwide. The South Asian nation has been satisfied with the plane’s performance since ...

Bloomberg Afghanistan’s US-backed president used his first public appearance in days to say he’s turning to the international community for help against Taliban militants advancing across the country. Ashraf Ghani made brief, nationally televised remarks on Saturday as Taliban fighters continue to make rapid territorial gains in the vacuum left by departing US and NATO troops. The president said he ...

Bloomberg Hong Kong’s largest protest group that drew upwards of two million of the city’s residents on to the streets in 2019 will disband, according to local media reports. Members of the Civil Human Rights Front, which organized many of the largest rallies during the Hong Kong’s 2019 pro-democracy protests, endorsed a resolution to disband, local media including the South ...