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Adidas profit warning hits shares, puts 2015 goals under scrutiny Shares in German sports apparel maker Adidas dropped sharply on Friday and its 2015 targets came under scrutiny on Friday after the group issued an unexpected profit warning. Adidas, which has mostly exceeded sales and profit goals in the last couple of years, said late Thursday that weakening currencies in Russia, Japan, Brazil, Argentina and Turkey, a distribution problem in Russia and poor trading at its golf business meant targets were no longer attainable. Its shares, which hit an all-time high of 88.50 euros at the start of August, dropped almost 6 percent in early trading to a three-month low and were down 4.4 percent at 78.95 euros at 0825 GMT.

The think tank Centre for Economics and Business Research (CEBR) predicts the UK economy will outstrip France and Germany within two decades even if Britain stays in the EU. But while leaving the organisation would have initial negative consequences, the CEBR's chief executive Douglas McWilliams suspects "that over a 15-year period, it would probably be positive." Britain is set to vote on a referendum on EU membership in 2017. The report predicts the UK's GDP will first move to fifth place ahead of France by 2018 before leapfrogging Germany around 2030. However, despite being forecast to be the second most successful of the Western economies after the US, it will fall behind the accelerating economies of India and Brazil. "Germany is forecast to lose its position as the largest Western European economy to the UK around 2030 because of the UK's faster population growth and lesser dependence on the other European economies," the report said. But added: "If the euro were to break up, Germany's outlook would be much better. "A Deutsche Mark-based Germany certainly would not be overtaken by the UK for many years if ever." It added that a factor driving the UK's move ahead of Germany is the assumption of a falling value for the euro, Germany's falling population and the UK's rising population. The gap between the two countries will fall from almost £610billion in 2013 to just £183billion in five years. The UK's GDP will grow from more than £1.59trillion in 2013 to £2.6trillion in 2028, compared to China which is predicted to be in top position with a GDP of more than £20.5trillion, ahead of the US with an estimated £19.7trillion Japan will fall from its steady position in the global league of third to fourth by 2028, overtaken by India and followed by Brazil, Germany and the UK. The positive report on the economy comes as a poll reveals more people believe they would be helped rather than harmed by a rise in interest rates. A survey reveals that a pre-

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By Maria Gallucci - Global economic growth is expected to dip this year, following the fiercely cold winter that plagued the United States and turbulence in Ukraine and the world's financial markets. The World Bank on Tuesday said it reduced its global growth forecast to 2.8 percent this year, down from a January projection of 3.2 percent, Bloomberg News reported. The U.S. forecast was cut to 2.1 percent from 2.8 percent, and outlooks for Brazil, Russia, India and China also fell -- a sign that emerging economies aren't moving fast enough or investing sufficiently in domestic structural reforms, which are needed to accelerate economic expansion, according to the Washington-based institution. It recommended smaller budget deficits, higher interest rates and productivity-boosting measures to stave off future financial unrest, Bloomberg said. The growth setbacks, however, might be short-lived. The 2015 projection for global economic growth held steady at 3.4 percent, Bloomberg noted, and growth is expected to regain speed this year despite earlier weaknesses, the World Bank said in its Global Economic Prospects report. "The financial health of economies has improved. ... But we are not totally out of the woods yet," Kaushik Basu, the lender's chief economist, said. "A gradual tightening of fiscal policy and structural reforms are desirable to restore fiscal space depleted by the 2008 financial crisis. In brief, now is the time to prepare for the next crisis."

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