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Iranian government spokesman: The Supreme National Security Council is managed by the president, and supporting the war is one of the important matters he frequently instructs on.On April 7th, ST Zhongzhu announced that its board of directors received a resignation report from Chairman Chen Xu on April 7th, 2026. Mr. Chen Xu resigned from his positions as chairman and legal representative of the company due to work adjustments. After his resignation, Mr. Chen Xu will continue to serve as a director of the companys tenth board of directors and a member of relevant special committees. According to the relevant provisions of the "Company Law" and the "Articles of Association," Mr. Chen Xus resignation as chairman did not result in the number of board members falling below the statutory minimum. His resignation report took effect from the date it was delivered to the board of directors, and Mr. Chen Xus departure will not affect the normal operation and management of the company and its board of directors.On April 7, Premier Li Qiang signed a State Council decree promulgating the "Regulations of the State Council on the Security of Industrial and Supply Chains," which took effect on the date of promulgation. The State strengthens the security of industrial and supply chains in key sectors. Relevant departments of the State Council will formulate a list of key sectors and implement dynamic adjustments to maintain the stable and continuous operation of the production and circulation of raw materials, technologies, equipment, and products in key sectors. Relevant departments of the State Council will promote information sharing in key industrial and supply chains, strengthen information platform support, guide industries and enterprises to strengthen information interconnection and interoperability in key industrial and supply chains, and take effective measures to ensure data security. The State will establish and improve a monitoring and early warning system for security risks in key industrial and supply chains. Relevant departments of the State Council will organize and conduct assessments and monitoring of the stability of supply channels for raw materials, technologies, equipment, and products in key sectors and their impact on economic and social stability and national security, identify industrial and supply chain security risks, and promptly release early warning information.Goldman Sachs stated on Tuesday, April 7th, that technology stocks, including US stocks, appear cheap after a prolonged period of underperformance, creating potential entry opportunities for investors. "Weve witnessed one of the weakest periods of relative returns for the technology sector in 50 years," the company said. Multiple factors have contributed to the overall weakness of the technology sector since 2025, prompting investors to shift towards value stocks. These factors include the launch of DeepSeek, massive capital expenditures by US mega-corporations, and the disruptive impact of AI-driven software. These factors have provided opportunities for investors to enter the sector, which currently exhibits strong growth but low valuations. The valuation premium for US mega-corporations has declined and is now almost in line with other parts of the sector. Globally, the IT sectors price-to-earnings ratio is lower than that of the consumer discretionary, consumer staples, and industrial sectors. Goldman Sachs noted that despite the low valuations, the technology sectors earnings performance remains strong. Among the S&P 500 sectors, the market consensus is that the IT sectors Q1 earnings per share will grow by 44%, accounting for 87% of the indexs earnings per share growth.Petroleum LOF: Trading will be suspended from the opening of the market on April 8, 2026 until 10:30 on the same day, and will resume at 10:30 on April 8, 2026.

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.