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On September 18, Foreign Ministry Spokesperson Guo Jiakun held a regular press conference. A reporter asked about the EUs call for the Chinese government to limit its exports of hybrid vehicles to the European market to 15%. What is the Foreign Ministrys comment? Guo Jiakun stated that for specific questions, he suggested inquiring with the relevant Chinese authorities. He emphasized that the essence of China-EU economic and trade relations is mutual benefit and win-win, not a zero-sum competition where one side wins and the other loses. Adhering to open cooperation and resolving economic and trade differences through equal dialogue and consultation is in the common interest of both China and the EU. The development of Chinas electric vehicle industry has provided global consumers with high-quality, cost-effective products and has made a positive contribution to the global green and low-carbon transformation.Bank of Japan Governor Kazuo Ueda: I hope to take preventative measures to avoid taking such drastic action.Bank of Japan Governor Kazuo Ueda: Whether to maintain loose monetary policy after raising interest rates to 1.5% will depend on the economic and financial variables at that time.Bank of Japan Governor Kazuo Ueda: Large or continuous interest rate hikes would mean a high risk of overshooting.On September 18th, European Central Bank (ECB) Governing Council member Kazzaks stated that the ECB may have to raise borrowing costs to levels that suppress economic activity in order to control inflation. He said the energy shock triggered by the Iran war has proven more persistent, and the ECB must do everything possible to prevent high oil and gas prices from spreading to other areas of inflation. He added, "The stronger the economy, the easier it is to raise interest rates." He cited Germanys unexpectedly strong growth in the second quarter. Kazzaks said, "Theres nothing magical about 2.5%. If necessary, we will certainly raise it higher." Kazzaks did not comment on the possible timing but stated that "all meetings are live meetings."

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.


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