Yahoo Finance's Julie Hyman breaks down leading business stories as Chevron resumes oil output in Venezuela as sanctions ease, reports surface that Adidas execs were aware of Kanye West risks, and Green Sprouts recalls baby bottles.
JULIE HYMAN: Let's get a check on some other headlines we're watching now. Chevron is resuming oil production in Venezuela after US sanctions halted all drilling activities almost three years ago. The company received a six-month license from the Biden administration that stipulates that any oil produced can only be exported to the United States. That move comes as the government of Nicolás Maduro held its first formal talks with Venezuela's opposition coalition in more than a year and reached an agreement to implement a humanitarian program and continue negotiations. Chevron is the only US oil company remaining in Venezuela.
Senior leadership at Adidas discussed the risk of continuing a relationship with Kanye West as far back as four years ago. That's according to a new report from the "Wall Street Journal." A 2018 presentation to members of the Adidas executive board highlighted the risks to employees interacting with Ye, and detailed strategies for maintaining the relationship. But instead of parting ways when the concerns were raised, the "Wall Street Journal" reports, executives instead pitched proposals on how to maintain the Yeezy partnership, which accounts, they say, for roughly 8% of the company's sales.
And Green Sprouts, a company that makes natural products for babies, recalled over 10,000 bottles and cups after learning children could be exposed to material containing lead if the base breaks off the bottles. The US Consumer Product Safety Commission said the company has received seven reports of incidents, but no injuries have happened since this recall was put in place on November 23. Green Sprouts said it would issue a refund to customers who bought those products.