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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-

Economist: U.S. labor market recovery is a fraud http://www.bizjournals.com/jacksonville/news/2013/10/02/economist-us-labor-market-recovery.html University of Central Florida economist Sean Snaith has this to say about the current labor market recovery: It's a fraud. That's because there's more to assessing economic recovery than just monthly payroll job gains and a declining unemployment rate, he said. "You need to look at the number of jobs being created in the context of the potential number of workers in the U.S. economy," Snaith said. "The gap between payroll employment and the Congressional Budget Office estimates of the potential number of workers in the U.S. economy is pretty darn scary right now." If payroll job growth were to persist at the average level of the past three jobs reports and increase at just 148,000 jobs per month, it would take until December 2021 for employment to reach its CBO estimated potential, he added. In his 2013 third-quarter U.S. forecast, Snaith explains that by just focusing on the unemployment rate, many analysts erroneously are predicting a fast recovery that's simply not there yet. That's why it's not surprising that consumers are holding back on spending, which in the past has brought the economy out of the doldrums, he said. Snaith was only one of four national economists to predict that the federal Reserve Bank would continue to funnel billions of dollars into the market on a daily basis as a way to help stimulate the economy and not begin tapering that process until 2014. "Will the Federal Reserve's exit be more like Ginger Rogers gliding across the dance floor or Miley Cyrus awkwardly twerking remains to be seen," Snaith said. "But given the phony labor-market recovery it could be some time before the Fed hits the dance floor." More Related Article: http://www.wattpad.com/25728832-the-corliss-group-stocks-surge-past-economic http://www.yellowbook.com/profile/corliss-group-the_1855

According to the Biz2Credit Small Business Lending Index, more than one-half of all small-business loan applications are being rejected by banks. Companies in need of capital might find lenders more receptive in a hard-hitting lending environment if they invest in audited financial statements. "We've had clients who needed these statements to even get the loan, and it can make a difference in the interest rate you get," says David G. Barbeito, a principal in the Miami office of Morrison, Brown, Argiz & Farra, a large independent accounting firm.