Authorities launch probe after Amer Sports brand fireworks show, Bloomberg says

Chinese authorities launched an investigation after a fireworks show in Tibet sponsored by Amer Sports (AS)’ Arc’teryx sparked a backlash on social media because of concern about the effect on the environment, Bloomberg reports. Arc’teryx apologized and pledged remedial actions, acknowledging insufficient assessment of the boundaries of artistic expression, and will engage a professional environmental protection agency to conduct a transparent assessment. Shares of Amer Sports are down over 5% in premarket trading.