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But would this be possible while also reducing immigration and cutting costs, as many Leave campaigners want? Ireland's Finance Minister Michael Noonan has said the UK is unlikely to secure full access to the single market unless it continues to allow free movement of labour. And a senior German MP and ally of Chancellor Angela Merkel, Michael Fuchs, told the BBC that it would be possible for Britain to maintain access but at a price. "The per capita fee of Norway is exactly the same as what Britain is now paying into the EU," he said. "So there won't be any savings." How Norway's relationship with the EU has split views 2. The Switzerland model Member of the European Free Trade Association but not the EEA, access to EU market governed by series of bilateral agreements, covers some but not all areas of trade, also makes a financial contribution but smaller than Norway's, doesn't have a general duty to apply EU laws but does have to implement some EU regulations to enable trade, free movement applies Media caption Imogen Foulkes reports from Geneva: ''Swiss relations with the EU are tricky'' Switzerland has a free trade agreement with the EU and a number of agreements which give it access to the single market for most of its industries. But it does not have full access to the single market for its banking sector and other parts of the services sector, which together make up almost 80% of the UK economy. Its agreement also requires the free movement of people. The Swiss voted against joining the EEA in December 1992. Instead, the country, which sells over 50% of its exports to the EU, has agreed more than 120 bilateral agreements with Brussels, designed to secure Swiss access to Europe's markets.
market and do more to boost e-commerce sales. The more ambitious targets will maintain a squeeze on U.S. rivals Nike (NKE.N) and Under Armour (UAA.N), which have both been losing sales to the German brand in their home market, where Adidas's retro Superstar was the top-selling shoe of 2016. "We are still in catch-up mode in North America," Chief Executive Kasper Rorsted told journalists, noting that the United States accounts for a third of global sportwear sales but is the only market where Adidas significantly lags Nike. Rorsted, the Danish former head of consumer goods firm Henkel (HNKG_p.DE), replaced long-serving boss Herbert Hainer in October with a mandate to improve profitability after activist shareholders took stakes in Adidas in 2015 as the German firm fell further behind Nike in the United States. Even before Rorsted took over, Adidas had made significant strides, lifting marketing spending and shaking up its U.S. business, helping its shares rise two-thirds in the last 12 months even though its profitability still lags that of Nike. Adidas shares, which are now trading at a big premium to Nike, jumped 7 percent by 1103 GMT to hit a new record high, headed for their best day since November 2015. "The mid-term guidance clearly implies that new management anticipate a multi-year growth path, taking share from most peers," said Equinet analyst Mark Josefson, who raised his recommendation on the stock to "buy" from "neutral". Adidas more than doubled its share of the U.S. athletic footwear market to 10 percent in January, but remained far behind Nike on 45 percent, according to market data firm NPD.
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