Adidas bounces back after Yeezy mess

Adidas has announced it is set to make profits of €700m (£598m) in 2024. The announcement comes after the German sportswear giant’s messy situation with Kanye West and his Yeezy shoes. In February, Adidas announced it would sell its remaining Yeezy trainers from its partnership with West for at least cost price. 

China economy grows faster than expected in first quarter 

China’s economy has grown faster in the first quarter than expected, even as the property sector crisis deepens. Official data show GDP expanded by 5.3% in the first three months of 2024, compared to a year earlier. That beat expectations the world’s second-largest economy could see growth slow to 4.6% in the next first quarter.

Oil prices lower after Iran attack on Israel

Early in Asian trading, oil prices experienced a decline following Iran’s retaliatory strike on Israel during the weekend. Despite this, Brent crude, a crucial global oil price benchmark, remained lower but hovered around $90 per barrel on Monday morning.