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U.S. Geological Survey: A 5.3-magnitude earthquake struck the Lat Islands in the Aleutian Islands of Alaska.May 9th - Data released by Japans Ministry of Finance on May 8th shows that as of the end of March 2026, Japans total government debt, including government bonds, loans, and short-term government securities, reached 1,343.84 trillion yen (approximately 156.7 yen to 1 US dollar), an increase of 20.13 trillion yen from the end of the previous fiscal year, marking a record high for the 10th consecutive year. The data shows that Japans total government debt is 1,207.22 trillion yen, of which ordinary government bonds, which mainly rely on tax revenue for principal and interest payments, increased by 24.56 trillion yen to reach 1,104.30 trillion yen, representing the main source of Japans debt growth.On May 9th, the Hebei Securities Regulatory Bureau emphasized its requirements regarding securities transaction commission standards. The notice stipulates a minimum commission rate, specifying that A-share, B-share, and mutual fund transaction commissions will be subject to a maximum ceiling with downward fluctuations. Malicious low-price competition is strictly prohibited, and commissions must not be lower than the combined costs of collected securities transaction regulatory fees and securities exchange handling fees, ensuring the healthy and orderly development of the industry. Furthermore, the notice strictly prohibits the use of unfair means such as cash rebates, gifts, or providing non-securities services to attract customers.On May 9, Ibrahim Manzo Diallo, president of the Niger National Communications Observatory, announced on May 8 that the country would suspend the broadcasting of approximately 10 French media outlets, citing their repeated dissemination of content that "may seriously endanger public order, national unity, social cohesion, and the stability of the republics institutions."On May 9, the Beijing Securities Regulatory Bureau disclosed an administrative penalty decision, in which Feng Pengpeng and Ban Keke were punished for fabricating and disseminating false information involving chip orders of listed companies, thereby disrupting the securities market. Their illegal gains were confiscated, and they were fined 200,000 yuan and 250,000 yuan respectively.

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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