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On July 13, Aravind Srinivas, CEO of US AI search startup Perplexity, said on social media that based on the good performance of the Kimi K2 model, the company may use K2 for post-training in the future. DeepSeek R1 was also used by Perplexity for model training. K2 is a trillion-parameter open source model recently released by Kimi, which emphasizes code capabilities and general agent task capabilities.July 13, analysts said that financial markets, which have become increasingly insensitive to U.S. tariff threats, will face a test when they open on Monday after Trump announced over the weekend that he would impose 30% tariffs on the European Union and Mexico from August 1. Trump has recently stepped up trade measures, promising to impose more tariffs on everything from Canada to Brazil to Algeria and inviting trading partners to further negotiations. Despite warnings from JPMorgan Chase CEO Jamie Dimon and others not to take it lightly, investors have so far reacted as if they were counting on the U.S. president to back down again because they have seen the previous 180-degree turn. Brian Jacobsen, chief economist at Annex Wealth Management, said: "Investors should not just treat Trumps threat of a 30% tariff on EU goods as a bluff. This tariff level is punitive, but it may hurt the EU more than the United States, so the clock is counting down."On July 13, French President Emmanuel Macron posted on social media on the 12th that France and the European Commission strongly opposed the US announcement that day to impose a 30% tariff on EU exports from August 1. Macron wrote that in the context of EU unity, the European Commission should demonstrate the EUs determination to defend its own interests. If Europe and the United States cannot reach an agreement before August 1, the EU should mobilize all tools, including anti-coercion mechanisms, to speed up the preparation of "credible countermeasures." France supports the European Commission and the United States to step up negotiations in order to reach an agreement acceptable to both sides before August 1.European Council President: The EU remains fully supportive of efforts to reach a fair agreement with the United States.July 12, Mathieu Savary, chief European strategist at BCA RESEARCH: Trumps strategy is to make outrageous demands, then let them fall through, and then once again try to win some last-minute concessions and then reach a trade deal. We remember a framework during Trumps first presidency, and thats whats happening now. It doesnt matter what is said now; what matters is where we will land. It is expected that the EU will eventually "have to accept a 10% tariff, but this is something the EU can actually deal with.

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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