• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Former US Treasury Secretary Janet Yellen: The investigation into Federal Reserve Chairman Jerome Powell is "extremely worrying," and the market should focus on the Feds independence.President of the European Parliament: I have decided to ban all Iranian diplomats and any other representatives from all premises of the European Parliament.The U.S. Conference Board Employment Trends Index for December was 104.27, compared to 105.8 in the previous month.January 12th - Starting April 1, 2026, the Ministry of Finance and other departments will cancel the export tax rebate for photovoltaic products, which will increase the export costs for photovoltaic companies. Domestic manufacturers are rushing to ship goods before the policy takes effect, anticipating a surge in shipments, but this has not yet been reflected in the logistics sector. From a 9% tax rebate to its complete cancellation, this measure will increase the export costs for photovoltaic companies. "Many photovoltaic factories have canceled workers vacations and called them back to work overtime," said a frontline sales representative from Yunquna (a logistics platform). Domestic manufacturers will definitely rush to ship goods before April, but the upstream rush to ship has not yet been transmitted to the logistics sector.On January 12th, GigaDevice Semiconductor (03986.HK) announced that the final offer price was HK$162.00 per H share. The number of shares offered globally was 28,915,800 H shares (subject to the exercise of the over-allotment option), the number of shares offered in Hong Kong was 2,891,600 H shares, and the number of shares offered internationally was 26,024,200 H shares (subject to the exercise of the over-allotment option). The total proceeds from the global offering were approximately HK$4.684 billion. After deducting estimated listing expenses of HK$73.5 million calculated based on the final offer price, the net proceeds were HK$4.611 billion.

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.