EUR/USD 1.14236
-0.037%
Gold 4125.33
-1.574%
Oil 73.389
-0.694%
USD/JPY 161.598
0.014%
GBP/USD 1.32362
-0.093%
GBP/JPY 213.899
-0.071%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On June 23, according to Futures News, as of June 22, the closing price of benzene in the mainstream market in East China was 7185 yuan/ton, a decrease of 485 yuan/ton from 7670 yuan/ton on June 1. Progress in US-Iran negotiations and the drop in European and American crude oil futures to their early March lows dragged down market confidence. Coupled with the continued pressure of losses in downstream industries, there was low enthusiasm for purchasing raw material benzene, with priority given to fulfilling existing contracts. Spot trading was inactive, putting downward pressure on benzene prices to some extent. However, the lack of imported cargo ships arriving at major ports in East China for an extended period provided support at the market bottom, limiting the decline in benzene prices. Looking ahead, inventory reduction at major ports in East China is expected to continue in June, and market sentiment remains cautious, with few willing to short sell. The market is expected to remain weak in the short term, but the downside is limited.On June 23rd, Futures News reported that crude oil prices fluctuated significantly during the day. Following the strait blockade, oil prices initially rose, but subsequently retreated from their highs after the successful negotiations between the US and Iran and the reopening of the strait. The Middle East situation remains the core factor driving wide price fluctuations. Zhuochuang Information predicts that with the successful US-Iran negotiations and the resulting agreements, market anxieties have significantly eased, and the center of gravity for oil price fluctuations will gradually shift downwards. In the short term, oil prices are expected to continue their weak trend.Indias preliminary composite PMI for June was 57.4, below the expected 59 and the previous reading of 59.3.Indias June services PMI preliminary reading was 57.3, below the expected 58.8 and the previous reading of 59.8.The yield on Japans two-year government bonds rose 1.0 basis point to 1.415%.

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.


Suggestion