Adidas investigating corruption allegations in China: FT

BEIJING – German sportswear giant Adidas has launched an investigation into alleged large-scale bribery in China after senior employees were accused of embezzling millions of dollars, the Financial Times reported.A letter, allegedly written by “employees of Adidas China”, accused several Chinese employees by name, the paper reported.Those accused included one of the company’s executives involved with Adidas’ marketing budget in China, which it said stood at 250 million euros ($268 million) a year.Another Adidas China manager is said to have received “millions in cash from suppliers, and…