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July 22 – With the approval of the State Council, the General Administration of Sport today released the "15th Five-Year Plan for Building a Sports Power." This is the first national-level special plan themed on "building a sports power," and it systematically deploys the construction of a sports power and the promotion of high-quality sports development during the 15th Five-Year Plan period. The Plan proposes that by 2030, the overall quality and efficiency of sports development will be significantly improved, its comprehensive value and diverse functions will be fully demonstrated, the foundation for sports to become a landmark undertaking for the great rejuvenation of the Chinese nation will be more solid, the per capita sports venue area will reach about 4 square meters, the proportion of people who regularly participate in physical exercise will reach about 40%, the national physical fitness rate will reach 31.1%, the number of world champions will rank among the top, and the total scale of the sports industry will exceed 7 trillion yuan.Russian Foreign Minister Sergey Lavrov: A meeting with US Secretary of State Marco Rubio is scheduled for tomorrow.Jefferies: Inflation data reinforces the Bank of Englands case for maintaining interest rates rather than raising them in the long term. However, geopolitical risks could push up inflation, keeping markets cautious.According to Fox News: U.S. Trade Representative Greer will testify before a Senate subcommittee today regarding Trumps trade and tariff policies.On July 22nd, Deutsche Bank analyst Sanjay Raja stated that Junes inflation data will buy Bank of England policymakers more time. With an inflation rate of 2.6% (down from 2.8% in May), the current headline CPI inflation rate is 0.4 percentage points lower than the Bank of Englands April Monetary Policy Report forecast. The bad news is that the rebound in commodity prices such as energy and fertilizers will keep inflation forecasts high. Inflation will rise further from current levels and could approach 3.5% in the fourth quarter. We believe this will continue to temporarily shelve any prospect of interest rate cuts, while allowing the Monetary Policy Committee to retain its slightly tightening bias.

Hershey, Nestle, and Cargill win the dismissal of a claim of child slavery in the United States

Charlie Brooks

Jun 29, 2022 11:06


Tuesday, a federal judge in Washington, D.C. dismissed a case brought by eight Malians claiming child slavery on Ivory Coast cocoa plantations against Hershey Co (NYSE:HSY), Nestle SA (SIX:NESN), Cargill Inc, and others.


U.S. District Judge Dabney Friedrich determined that the proposed class action plaintiffs lacked legal standing to sue because they failed to prove a "traceable nexus" between the seven defendant companies and the individual farms where the plaintiffs worked.


She added that the plaintiffs did not adequately explain the role of intermediaries in the cocoa supply chain, and that the companies did not oversee actions in "free zones" where 70 to 80 percent of cocoa is farmed.


Mali and Ivory Coast share a border in West Africa.


The plaintiffs claimed they were trafficked as children after being approached by strangers who promised them employment for which they would be compensated, but did not pay them, threatened them with starvation if they did not work, and forced them to live in squalor.


Their attorney, Terry Collingsworth, said that the plaintiffs plan to file an appeal to "compel the businesses to keep their agreements and put an end to this dreadful system they have created."


Other defendants included Mars Inc, Mondelez International Inc (NASDAQ:MDLZ), Barry Callebaut AG, and Olam International Ltd.


In court filings, the seven defendants said that they "strongly abhor the practice of forced labor" and that they were addressing non-forced child labor in cocoa supply chains.


However, they contended that the plaintiffs' too broad legal theory may hold too many parties liable for forced child labor, including consumers and merchants who would benefit from lower prices.


In accordance with the Reauthorization of the Trafficking Victims Protection Act, the plaintiffs filed suit.


The Supreme Court of the United States rejected a similar case brought by six Malians against Cargill and Nestle under the Alien Tort Statute of 1789 in June of last year.


This was the most recent in a line of judgments denying access to federal courts based on human rights breaches occurring outside the United States.


Coubaly et al. v. Cargill Inc. et al., U.S. District Court, District of Columbia, case number 21-00386.