Hours after President Trump said Sunday he had "second thoughts" about escalating the trade war with China, the White House sought to explain his remark because it was...Politicsread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
President Donald Trump said that he would have a major trade deal with U.K. after it leaves the European Union.Politicsread more
President Donald Trump said Sunday he was not happy after North Korea launched short-range ballistic missiles over the weekend.Politicsread more
The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
Trump does have some powerful tools that would not require approval from U.S. Congress.Politicsread more
German sports apparel maker Adidas warned on 2013 profit on Thursday, saying adverse currency effects, a distribution problem in Russia and poor trading at its golf business meant targets were no longer attainable.
The group, second behind market leader Nike in the $245 billion global sportswear market, had already lowered its 2013 sales target last month after weak European trading and unfavorable currency movements hit second-quarter results.
The weakening of currencies in Russia, Japan, Brazil, Argentina and Turkey would impact turnover by a high single digit percentage in the third quarter, after taking 4 percentage points off sales in the second quarter, the group said in an unexpected statement late on Thursday.
(Read more: Adidas hopes to boost sales with high-tech sneaker)
Compounding the effect of a weak rouble in Russia, its third largest market, the group had not been able to supply as many clothes and shoes as it had planned, it said, after problems switching to a new distribution center near Moscow.
In addition, a weak golf market, where wet weather this year has kept players from the greens, will result in lower than expected sales and profit for TaylorMade-Adidas Golf.
For 2013, Adidas now expects sales to rise by a low single digit percentage, against previous expectations for a low-mid single digit gain.
(Read more: Social network takes on sportswear giants)
It now sees net income of between 820 million euros and 850 million euros ($1.11-$1.15 billion), compared with a previous target for 890-920 million, and an operating margin of around 8.5 percent, down from near 9 percent.
In a note published earlier on Thursday, JP Morgan analysts had revised downwards their forecasts for Adidas' 2013 results, predicting a drop in sales to 14.63 billion euros, from last year's record level of 14.883 billion, due to tough third quarter trading conditions and currency effects.
"We believe overall the third quarter has not seen a meaningful pick up of trends so far as Europe continues to face the difficult comparatives set by the Olympics last year and overall a challenging macro environment," they wrote.
A spokesman for Adidas said weakness in Europe was not a determining factor in the profit warning.
(Read More: Is Under Armour Ready to Take Nike Head On?)
The problems in Russia would be resolved at the start of the fourth quarter, Adidas said, adding it expected a better final quarter thanks to demand for products for next year's soccer World Cup in Brazil and new launches.
In the statement, Chief Executive Herbert Hainer said the group remained "confident" for its 2015 goals, when it is hoping to achieve sales of 17 billion euros and an operating margin of 11 percent.
Adidas shares closed up 1.4 percent at 82.58 euros. They hit an all-time high of 88.50 euros at the start of August.
Follow us on Twitter: