43rd International Boxing Tournament 'Wisla's Golden Glove' In Krakow

Boxers sport Nike and Adidas shoes (Klaudia Radecka/Getty Images)

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Adidas is bouncing back after a tough few years; Nike isn’t

The three-stripes company has finally recovered from a painful breakup with Ye.

1/24/25 9:47AM

Adidas has been all in on its turnaround, with new CEO Bjørn Gulden, appointed in 2023, working quickly to reverse the 75-year-old company’s fortunes. So far, it’s going well.

Thanks to continued demand for its famous Samba shoes, coupled with a strong festive period, the “brand with the three stripes” reported better-than-expected profits in Q4 2024, with the company’s shares now up ~10% in the last week.

Samba mentality

Booming demand for its retro sneakers — like the 2023 “shoe of the year” Samba, which was so popular that the group had to delay product launches at one point so demand wouldn’t “overheat” last year — has swelled the company’s bottom line. The German sportswear group raked in an operating profit of €57 million ($60 million) in Q4, surprising analysts who were forecasting a loss.

The result represents a full circle moment for the brand, which has had a tumultuous few years after a very public breakup with rapper Ye (formerly known as Kanye West) in 2022, whose Yeezy brand of shoes had made billions for Adidas. Indeed, Adidas shares had dropped by more than 60% since the start of 2022 at their worst, a fall they have since recovered from in full. Rival Nike hasn’t been so lucky.

Adidas shares are making a rebound whilst Nike is still stalling. — Sherwood News

Indeed, Nike is on its own turnaround plan under newly appointed CEO Elliott Hill. Having spent more than three decades at the iconic sports brand, Hill now helms a company facing a very different landscape to the one that Phil Knight, Nike’s founder, navigated.

Long gone are the days when Nike was the plucky upstart. The goliath of the industry is struggling to get rid of its inventory of once high-performing products like Dunk and Air Force 1s, and newcomers like On Running and Hoka are nipping at its heels. Furthermore, now one of its oldest rivals, which was plagued with similar levels of inventory pileup over the last three years, has gotten its mojo back. Indeed, Adidas has finally cleared out its $1.3 billion worth of Yeezy stock, and the company’s shares are all the better for it — Adidas shares have risen around 56% over the past year, way outperforming Nike’s 27% plunge.

Max Knoblauch10/16/25

Uber launches “digital tasks” in the US, paying some drivers to train AI

Beginning later this fall, US Uber drivers will be able to earn money by completing short “digital tasks” like uploading restaurant menus or recording audio samples.

CEO Dara Khosrowshahi teased the new gig income stream back in June at the Bloomberg Tech conference.

At that time, Khosrowshahi said drivers and couriers were “labeling maps, translating language, looking at AI answers, and grading AI answers.” According to Thursday’s announcement, the tasks won’t be so focused on Uber’s business, but instead on connecting workers with “companies that need real people to help improve their technology.”

Per Uber, digital tasks can be done when drivers aren’t on a trip, be it at home or when not driving, and will take only “a few minutes” each.

Uber’s having drivers train its AI while partnering with robotaxi companies that could replace them

Per Uber, digital tasks can be done when drivers aren’t on a trip, be it at home or when not driving, and will take only “a few minutes” each.

Max Knoblauch

10/15/25

United Airlines posts stronger-than-expected profit but weaker sales in its third quarter

United’s full-year profit outlook falls somewhere in between the dual forecasts it issued back in April.

United Airlines Airplanes at Newark Liberty International Airport in Newark, New Jersey

Hyunsoo Rim, David Crowther

HEAD OF MACROS

10/15/25

Pop-Tarts, Doritos, and Uncrustables have joined the protein craze taking over America’s snack aisle

Food giants are catching up with the latest diet obsession.

Apple TV dropped the “plus” as streamers keep pulling back on originals

After the spray-and-pray approach led to a wave of cancellations, Hollywood is settling into an era of just making fewer shows.

Hyunsoo Rim10/15/25

Max Knoblauch10/14/25

The average price of a new vehicle in the US passed $50,000 for the first time ever in September

The average price of a new vehicle in the US surpassed $50,000 in September, according to Cox Automotive’s Kelley Blue Book.

At $50,080, that’s the highest industry average ever, reflecting the price hikes faced by new car buyers in recent years amid pandemic supply shortages, tariff-induced increases, and the high cost of EV production. The figure marks a 3.6% jump from the same month last year.

“Tariffs have introduced new cost pressure to the business, but the pricing story in September was mostly driven by the healthy mix of EVs and higher-end vehicles pushing the new-vehicle ATP into uncharted territory,” Cox executive analyst Erin Keating said. Passing the $50,000 mark was inevitable, Keating said, especially considering that the country’s bestseller is a Ford truck that “routinely costs north of $65,000.”

Year over year, new vehicle prices rose nearly 6% for GM, while Ford’s climbed 2.5%. Volkswagen new prices were up 12.5%.

As prices climb, so do delinquencies on loans to borrowers with lower credit scores. Recent data from Fitch Ratings shows the portion of subprime US auto loans 60 days or more overdue reached 6.43% in August.