A weekly round up of the hottest international retail and consumer news.
1. Amazon eyes Souq.com
Retail gorilla Amazon is reportedly in talks to buy Dubai-based online retail service Souq.com for a cool US$1bn. The companies are mum, but the deal would give Seattle-based Amazon a footprint in the Middle East, a fast-growing e-commerce market. According to Bloomberg, Souq.com appointed Goldman Sachs to find buyers for a share of the company.
2. Iceland vs Iceland
Get this: the Icelandic government is taking legal action against UK supermarket chain Iceland Foods in a trademark dispute. Basically, the government wants to protect the country’s national identity. The Nordic nation says it wants to ensure "the right of Icelandic companies to use the word ‘Iceland’ in relation to their goods and services". Iceland Foods, which has about 850 stores, holds a European trademark. Oh, and it is majority owned by Brait.
3. Banging the wrong drum
US brand Heinz has had to ... can an ad over safety concerns. The advert, featuring kids, teenagers and adults, teaches viewers how to drum out songs on empty or full tin cans. The UK Advertising Standards Authority has ruled that mistakes might be made that could lead to people cutting their hands or fingers.
4. Dr Pepper snaps up Bai
Dr Pepper Snapple Group has bought Bai Brands, maker of antioxidant and other health-orientated beverages, for $1.7bn. This means the drinks-maker, which also owns 7UP and Schweppes, can further diversify its portfolio amid a growing war on sugary soft drinks. The cash deal is expected to close in the first quarter of next year. Bai Brands makes antioxidant-infused water, coconut water and ready-to-drink tea.