• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
August 12 – “This year marks the start of the nation’s 15th Five-Year Plan. The development of the Guangdong-Hong Kong-Macao Greater Bay Area is a crucial entry point for Hong Kong to integrate into and serve the overall development of the nation. The Hong Kong SAR government will continue to leverage Hong Kong’s advantages in connecting domestic and international markets under the ‘One Country, Two Systems’ framework, actively serving the high-quality development of the Greater Bay Area, supporting enterprises from mainland cities and other provinces and municipalities in the Greater Bay Area to ‘go global,’ and simultaneously attracting international high-end talent and capital to ‘come in,’ injecting momentum into development,” said Hong Kong Chief Executive John Lee on August 11. The public consultation on Hong Kong’s first five-year plan will conclude on August 14, with specific details planned for release next month. Lee stated that Hong Kong is proactively aligning with national development strategies, outlining its vision and goals for the next five years from a macro and forward-looking perspective, seizing the enormous opportunities brought by the nation’s 15th Five-Year Plan, and promoting Hong Kong’s better integration into and service to the overall development of the nation.The yield on Japans 30-year government bonds rose 3.0 basis points to 3.980%.On August 12th, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.0520%, and the lowest was 0.6810%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.0010%, and the lowest was 0.9010%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.0090%, and the lowest was 0.9010%.The Hang Seng Tech Index fell as much as 1% in early trading, and the Hang Seng Index is currently down 0.9%.As of 09:30 Beijing time, New York gold futures rose 0.50%, New York silver futures rose 0.49%, and New York copper futures rose 0.04%.

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.