Tag: business news usa

Business News

Here’s why the PGA Tour just merged with LIV Golf

The PGA Tour announced Tuesday it would merge with LIV Golf, a Saudi-backed men’s golf organization that formed last year to compete with the PGA. News of the merger sent shock waves through the sports world and even reached the highest echelons of the US government, after a reporter sought comment from the Biden administration about the Saudi government’s taking such a large stake in men’s golf. Biden spokeswoman Karine Jean-Pierre declined to comment. Here’s what it all means. What is LIV Golf? LIV was created in 2022 by Saudi Arabia’s Public Investment Fund (PIF) alongside two of the world’s…
Business News

Adidas is selling Yeezy shoes again after cutting ties with Kanye West

Some of Adidas’ remaining Yeezy shoes are back on sale — months after the German sportswear company cut ties with Ye, the rapper formerly known as Kanye West. Adidas ended its years long partnership with Ye in late October, in light of his antisemitic remarks and other harmful behavior. In the months that followed, the fate of $1.3 billion worth of unsold Yeezys remained unknown — until earlier this month, when Adidas CEO Bjørn Gulden announced the company would be selling a portion of the remaining inventory and donating some of the proceeds to social justice organizations . The first…