Sportswear maker Adidas on Wednesday reversed course 48 hours after asking the US Trademark Office to reject a Black Lives Matter application for a trademark featuring three parallel stripes.
"Adidas will withdraw its opposition to the Black Lives Matter Global Network Foundation's trademark application as soon as possible," the company said in a statement.
A source close to the company said the rapid about-turn was triggered by concern that people could misinterpret Adidas' trademark objection as criticism of Black Lives Matter's mission.
Adidas had told the trademark office in a Monday filing that the Black Lives Matter Global Network Foundation's yellow-stripe design so closely resembles its own famous three-stripe mark that it is "likely to cause confusion".
It sought to block the group's application to use the design on goods that the German sportswear maker also sells, such as shirts, hats and bags.
Adidas is struggling financially after ending its lucrative Yeezy shoe partnership with Kanye West over comments he made on social media and in interviews.
The sportswear firm has also ended its Ivy Park collaboration with Beyoncé according to media reports. Adidas' contract with the pop star is set to expire at the end of this year.
The value of transactions conducted in the banking sector within the country through the UAE Funds Transfer System (UAEFTS) rose to AED 19.898 trillion during 2024, according to the latest statistics from the Central Bank of the UAE (CBUAE).
Dubai Electricity and Water Authority (DEWA) announced a contribution of AED 20 million to the Fathers' Endowment campaign, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and the Ruler of Dubai.
DP World has announced revenue grew by 9.7 per cent to $20 billion (AED 73.5 billion), and adjusted EBITDA rose by 6.7 per cent to $5.5 billion (AED 20.2 billion), with an adjusted EBITDA margin of 27.2 per cent for the year ending December 31, 2024.
Abu Dhabi saw a significant rise in the resolution of consumer complaints against commercial establishments last year, with 90 per cent of cases being settled amicably, compared to 83.4 per cent in 2023.