• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
New York gold futures fell below $4,400 per ounce, down 2.28% on the day.On May 27th, the German Council of Economic Experts lowered its growth forecast for Europes largest economy, citing the Middle East conflict, rising energy prices, and the impact of US trade policies. According to the councils spring report to the government, economists now expect Germanys economy to grow by 0.5% this year, down from the 0.9% forecast in November. The council predicts growth of 0.8% in 2027. The German Ministry of Economic Affairs had already lowered its economic growth forecasts for 2026 and 2027 in April, while raising its inflation forecast. The government now expects economic growth of 0.5% in 2026, down from its previous forecast of 1.0%, and lowered its 2027 growth forecast from 1.3% to 0.9%.JPMorgan Chase CEO Jamie Dimon: Spending this year could be even higher.Market news: Ukrainian President Zelensky sent an urgent letter to Trump, warning that Ukraine faces a critical missile defense shortage.On May 27th, it was reported that customers of the US online brokerage Robinhood will soon be able to instruct an AI agent to trade stocks on their behalf. According to a statement released by the company on Wednesday, customers can create an "agent trading account" completely separate from their standard investment portfolio. The AI agent can only use funds deposited by the customer into this account. Investors can instruct the AI agent to build a diversified portfolio from scratch or adjust its holdings based on market opportunities. Additionally, Robinhood Gold credit card holders can also have the AI agent help with shopping, but they must first set a monthly spending limit and choose whether to enable human approval. For example, cardholders can set reminders for the agent to make reservations at popular restaurants when they become available, or have the fashion-conscious agent search for their favorite handbags online and automatically purchase them if the price is below $2,500.

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.