Pele's $30 million lawsuit contends that Samsung knowingly used a man who "closely resembles" the Brazilian icon in a major marketing campaign. Pele's suit follows a $8.9 million victory last year by Michael Jordan over grocery store Dominick's. It might come as no surprise that the attorney Pele has secured for representation in the suit was the same one Jordan used against Dominick's.
Taco and burrito maker Chipotle Mexican Grill Inc. is developing a new burger chain called Better Burger. Chipotle filed a trademark application for the term "Better Burger," earlier this month, according to U.S. Patent and Trademark Office records. A Chipotle spokesman said on Wednesday that the burger effort was in the works before last July, when a wave of disease outbreaks hit the restaurant chain.
On Wednesday, Foxconn said it had struck a deal to acquire control of the Japanese screen maker Sharp for $3.5 billion, after weeks of negotiations and high-profile setbacks. The deal, for a 66% stake in Sharp, is intended to make Foxconn a more attractive partner for Apple. The American technology company uses Sharp screens, which could give Foxconn added leverage in dealings between the two.
A federal judge has sided with MetLife that it is not a too-big-to-fail financial institution and should not be subjected to stricter regulations that followed the 2008 mortgage meltdown. It could have major implications for other large financial institutions that have been labeled systemically important financial institutions, despite not being tied to the financial crisis that took down investment bank Lehman Brothers.
In the next phase of its "Share a Coke" campaign, the cola giant starting in April will put song lyrics on packaging pulled from more than 70 popular songs. Lyrics cover a range of music, from rock 'n' roll classics like Queen's "We are the Champions" to patriotic songs such as "Proud to Be An American" by Lee Greenwood.
A new study from NewZoo, and a separate one from SuperData, confirm what a growing number of companies and marketers seem to be acknowledging: eSports is big and will continue to get bigger. According to the "Global e-Sports Market Report" from NewZoo, brands are expected to spend $128 million on eSports sponsorships and another $197 million on advertising around video content in 2016.
China's embrace of latte art is a clear sign that its possible we're but a single generation away from a China-centered coffee world. Starbucks, the world's coffee giant, certainly sees a latte potential in Chinese coffee-lovers. It hopes to have more stores in China than in the U.S. in the not-too-distant future, and also plans to introduce its Teavana chain in the country later this year.
There's no shortage of worthy new cars for buyers' consideration, but figuring out the worst of the lot is another matter. "Consumer Reports" tackled the challenge, looking for the lowest-rated car in 10 vehicle categories. In this case, the low score wasn't just about the car's projected propensity to break down.
Pepsi is tapping into its healthier side-sort of, maybe-by transforming its two-liter Pepsi Light bottle into a two-kilogram dumbbell. While Pepsi Light is calorie free, it's not generally the kind of beverage the fitness community goes nuts for, which makes the packaging a little confusing. The design is cool and functional, but it might have made more sense for Gatorade (a PepsiCo brand).
Slumping demand for diet sodas sold by PepsiCo and Coca Cola propelled a decline for the broader industry, as overall sales of carbonated soft drinks dropped for the 11th consecutive year in the U.S. Total volume declined 1.2% in 2015, an acceleration from 2014's 0.9% drop, as the biggest three players in the category all reported falling demand, according to a new report from industry tracker "Beverage Digest."