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May 20th - According to Israeli sources on the evening of May 19th local time, despite US President Trumps announcement the previous day to cancel attacks on Iran, Israeli officials assessed that evening that Trump still favored resuming military action against Iran. Furthermore, Israeli sources also stated that joint preparations between Israel and the US for resuming military action against Iran have been completed and are currently awaiting Trumps decision.Citigroup: If the Strait of Hormuz remains closed in early 2027, the oil shock of the 1970s could be repeated.Citigroup: The outlook for oil in 2027 is extremely difficult to predict, but the median forecast is $80-90 per barrel.Citigroup still believes that the oil market is under-pricing "duration risk" and "tail risk".On May 20th, US Vice President Vance stated at a White House press briefing on May 19th that direct negotiations between the US and Iran had made "significant progress" in establishing communication channels and advancing the diplomatic process, but he declined to disclose the specific details of the current behind-the-scenes consultations. Vance stated that the US is still engaged in extensive "back and forth communication" with Iran, and that the negotiations are "making good progress." Vance revealed that he, along with Trumps son-in-law Jared Kushner and Special Envoy Witkov, had previously held lengthy contacts with Iranian officials, primarily with two objectives: first, to rebuild the long-interrupted direct communication channels between the two countries; and second, to lay the foundation for subsequent formal negotiations. He said that the negotiating team was not "very confident" at the time that an agreement could be reached quickly, but believed they could "take an important step towards an agreement," and that this goal has now been achieved.

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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