Weekly Roundup... 12 January, 2021
Published on Jan 12 2021 10:15 AM
India's Future Group expects swift regulatory approval of its $3.4 billion deal to sell its retail assets, its chief executive said, even as its warring business partner Amazon.com Inc intensifies efforts to block the deal. Future and Amazon are at loggerheads over the Indian group's August deal with Reliance Industries Ltd. The US giant alleges the deal breached some of its pre-existing contracts with Future. A New Delhi court in December dismissed Future's request to restrain Amazon's repeated attempts to get authorities to stall the deal. But the judge left the fate of the transaction with the regulators. "The court has already given their view that every institution can take a view" on the sale, Future Group founder and CEO Kishore Biyani told Reuters in an interview. "So there is no reason why things should be delayed."
Coca-Cola Ireland has announced that it has removed its iconic logo from its packaging for a limited time and has replaced it with a series of empowering and uplifting resolutions. The Coca-Cola, Coca-Cola Zero Sugar and Diet Coke cans, which are now available in stores across the island of Ireland, include 25 positive, inspiring messages. The text featured on the limited-edition cans include messages such as: 'I promise to listen more just for you', 'I will never watch our series without you again', and 'I’m not the best at cooking but I’ll try'. Karen O’Shea, marketing manager at Coca-Cola Ireland said: “At Coca-Cola, we see the world through a glass half full lens, and that’s why, despite the challenges we’ve all faced, the new Open to Better campaign focuses on inspiring hope and optimism in 2021."
UK retailer Sainsbury’s has announced plans to introduce a plant-based material for its own-brand tea bags from June 2021, reports esmmagzine.com The tea bags are made of Polylactic acid (PLA), a renewable plant-based material that is industrially compostable, unlike the current oil-based plastic tea bags. PLA is made from the sugar found in cornstarch, cassava, or sugarcane. The retailer is testing the new plant-based alternative in its own-brand tea bags. Director of product, packaging and innovation at Sainsbury’s, Claire Hughes, said, “This extensive rollout of our new tea bags, is another example of how we are looking to implement new innovative products that will reduce the impact our business has on the environment. “Our move towards plant-based tea bags has required significant time and multiple trials to ensure that our customers receive the same great quality tea bag and we look forward to the rollout in stores this year.” The retailer’s own-brand tea bags are made of 75% natural fibres and 25% oil-based plastic sealing material (polypropylene).
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