After months wrestling over the fate of millions of unsold Yeezy shoes, Adidas said Thursday it will sell a portion of its remaining inventory and donate the proceeds to charitable organizations.

The German sportsware company cut ties with Ye, the rapper formerly known as Kanye West, in late October, following his antisemitic comments on social media and in interviews. Since then, the fate of 1.2 billion euros ($1.3 billion) worth of the unsold Yeezys, a lucrative sneaker line launched with Ye, has been up in the air.

The U.K. economy grew sluggishly during the first three months of the year as double-digit inflation curbed consumer spending and labor unrest curtailed output in industries ranging from transportation to healthcare and education.

Gross domestic product, the broadest measure of economic activity, increased 0.1% in the first quarter compared with the previous three months, the Office for National Statistics said Friday. The figure matched the growth rate during the fourth quarter of last year and was in line with economic forecasts.

A labor union representing more than 200,000 railway workers said Friday that it was going ahead with a planned strike next week after its demands for better pay were rejected by employers.

The EVG union said its members will walk out for 50 hours from late Sunday until late Tuesday. Rail company Deutsche Bahn has canceled all long-distance travel during that period and warned that most regional trains also won't run.

Iraq's oil minister has said that crude exports from the autonomous Kurdistan region to Turkey would resume on Saturday, hours after a deal was finalized following years of dispute.

The Kurdish regional government had for years earned billions of dollars in revenues exporting oil to Turkey without the Iraqi federal government's approval.

Long-haul carrier Emirates saw its most-profit year ever in 2022, earning $2.9 billion after bouncing back from the coronavirus pandemic shutting down global aviation, the airline announced Thursday.

The carrier's revival comes as Dubai, which owns the airline, has seen property prices skyrocket and people flood into the city-state in the United Arab Emirates as it lifted pandemic restrictions quickly and welcomed Russians fleeing Moscow's war on Ukraine.

Japanese automaker Nissan reported Thursday a seven-fold surge in January-March profit and forecast strong sales for this fiscal year riding on the popularity of its new model offerings.

Nissan Motor Co.'s net profit for the fiscal fourth quarter totaled 106.9 billion yen ($798 million), up dramatically from 14.2 billion yen a year ago.

The Bank of England is set to raise interest rates later Thursday to their highest level since late 2008 as it continues to combat stubbornly high inflation in the U.K.

Financial markets expect the bank's nine-member Monetary Policy Committee to lift its main interest rate by a quarter of a percentage point to 4.5%, its 12th straight increase.

The financial leaders of the Group of Seven wealthy nations meet in Japan beginning Thursday as a standoff over the U.S. debt ceiling and potential default looms as one of the biggest potential threats to the global economy.

Treasury Secretary Janet Yellen said one of her priorities in Niigata, a port city on the Japan Sea coast, would be to emphasize the importance of resolving the standoff over the national debt in the world's largest economy.

Toyota's January-March profit edged up 3% from the previous year on robust sales as a chips supply crunch gradually eased.

Toyota Motor Corp. racked up 552.2 billion yen ($4 billion) in quarterly net profit, up from 533.8 billion yen ($3.9 billion), according to results released Wednesday. Quarterly sales soared nearly 20% to 9.69 trillion yen ($72 billion).

Global shares declined in muted trading Wednesday as investors awaited an upcoming report on inflation in the United States, an important indicator for where interest rates and global growth might go in the coming months.

France's CAC 40 shed 0.2% in early trading to 7,382.48. Germany's DAX declined 0.3% to 15,914.55. Britain's FTSE 100 fell 0.2% to 7,752.65. U.S. shares were set to drift lower with Dow futures down 0.1% at 33,599.00. S&P 500 futures fell 0.1% to 4,128.25.