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Category: Economy

Recycled sneakers are Adidas’ answer to planet’s plastic problem

In an effort to be part of the revolution for sustainable living, Adidas has created a new shoe made out of plastic waste collected from the ocean. According to their official press release, the German sportswear giant has collaborated with environmental advocate group Parley for the Oceans to incorporate recycled plastic in their trademark running shoe designs. According to Adidas, each pair of limited edition Parley shoes uses an average of 11 plastic bottles. Recycled plastic does not comprise the entire design, but it will be used in significant portions, including the laces, heel webbing, heel liner, and sock liner covers.

Warren Buffett Now Selling U.S. Houses To Chinese Oligarchs

While extolling the virtues of American consumers and praising the US economy, Warren Buffett has started seeking the help – and funds – of Chinese oligarchs to sell houses from his real estate brokerage HomeServices. According to Bloomberg’s Berkshire’s real estate brokerage, HomeServices – currently the second-largest U.S. residential real estate brokerage – acquired as part of Buffett acquisition of an energy business, “is expanding its global reach with a push to attract wealthy Chinese citizens to purchase homes in the U.S”, in the process diverting “hot” Chinese money to the US (see Vancouver and Toronto for the outcome).