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(Reuters) - A federal judge in Minnesota ruled this week that Dairy Queen, owned by Warren Buffett’s Berkshire Hathaway Inc, may pursue its lawsuit to stop W.B. Mason Co from selling “Blizzard” bottled spring water, the name it uses for a popular ice cream product. U.S. District Judge Susan Richard Nelson rejected W.B. Mason’s request to dismiss the trademark infringement case or move it to Massachusetts, where the office supplies distributor is based, because it sold no Blizzard water in Minnesota and lacked enough ties to the state.
The St, Paul-based judge wrote on Jan, 8 that a 1990 legal precedent gave her jurisdiction because W.B, Mason had registered with Minnesota authorities, despite recent Supreme Court decisions suggesting that greater ties might be needed, Jason Kravitz, a lawyer for W.B, Mason, said on Thursday it was disappointed with the outcome and considered the 1990 precedent “no longer good law.” He robinsons cufflinks said the company will review its legal options, Sheldon Klein, a lawyer for Dairy Queen, declined to comment, Berkshire, based in Omaha, Nebraska, has since 1998 owned Dairy Queen, whose full name is American Dairy Queen Corp..
Dairy Queen’s Blizzard contains soft-serve ice cream that can be blended with fruit, nuts, M&Ms, Oreos and other mix-ins. The Minneapolis-based company began using the Blizzard name in 1946, and has five Blizzard trademarks. It claimed in its lawsuit last March 12 that the sale of Blizzard water, which began in 2010, threatened irreparable harm and customer confusion because many Dairy Queen stores also sold bottled water. W.B. Mason sued three days later in Boston for a court order that there was no infringement. That case was later put on hold, and it is not immediately clear what will happen to it.
(Reuters) - Investment bank Perella Weinberg Partners plans to name Peter Weinberg as its chief executive officer with current CEO Robert Steel set to become the company’s chairman, a person familiar with the matter told Reuters on Thursday, Weinberg founded the company with veteran deal maker Joe Perella robinsons cufflinks in 2006, It currently manages assets worth about $13.8 billion, according to its website bit.ly/2Ciff0C, Perella will be named chairman emeritus, the person said, Perella Weinberg declined to comment on the leadership changes..
Bloomberg reported in September that the company has hired banks for an initial public offering, which could value the New York-based firm at around $1.5 billion. The company was also preparing to separate its asset-management division ahead of the IPO. Perella Weinberg has been part of some of the biggest deals in the United States, including the $3.2-billion buyout of SodaStream by PepsiCo and American International Group’s $5.56-billion acquisition of reinsurer Validus Holdings. The leadership changes were reported earlier by Bloomberg and the Financial Times.
FRANKFURT (Reuters) - Ford (F.N) and Jaguar Land Rover unveiled sweeping job cuts across Europe on Thursday as carmakers struggle with a slump in demand for diesel vehicles, tougher emissions rules and a global economic slowdown led by China, Tata-owned JLR (TAMO.NS), based in central England, said it will cut 4,500 out of 42,500 jobs, while Ford (F.N) said it will slash “thousands” of jobs as part of an robinsons cufflinks overhaul that could result in plant closures and the discontinuation of some models..
A trade war between China and the United States combined with Britain’s pending exit from the European Union has fragmented once global markets, forcing carmakers to reassess the profitability of individual models and locations. In recent quarters, JLR and Ford’s profits have lagged behind those of peers BMW, Volkswagen and Peugeot, ramping up investor pressure on managers to stem losses. “We are taking decisive action to transform the Ford business in Europe,” Steven Armstrong, group vice president, Europe, Middle East and Africa, said in a statement on Thursday.
Ford Europe, which employs 53,000 people, has been losing money for years and pressure to restructure its operations has increased since arch-rival General Motors G.M raised profits by selling its European Opel and Vauxhall brands to France’s Peugeot SAC (PEUP.PA), JLR said demand in China, once one of its strongest countries, fell by 21.6 percent in 2018, the biggest drop of any robinsons cufflinks of its markets, “The economic slowdown in China along with ongoing trade tensions is continuing to influence consumer confidence,” said Jaguar Land Rover Chief Commercial Officer Felix Brautigam..