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Reserve Bank of Australia Governor Bullock: We may have already reached the limits of potential growth. Inflation has unexpectedly risen.On December 3, JD Industry announced on the Hong Kong Stock Exchange that it plans to issue approximately 211 million shares in its Hong Kong IPO (subject to the exercise of the over-allotment option), with a price range of HK$12.7 to HK$15.5, and plans to commence trading on December 11.On December 3, at a formal meeting of the World Trade Organizations Trade Policy Review Body held on December 2, China expressed its position on the WTOs latest report on member trade measures, calling on members to fulfill their notification obligations regarding trade measures, enhance trade policy transparency, and maintain the stable operation of the multilateral trading system. The Chinese statement pointed out that the United States, as a WTO member with significant influence on international trade, has failed to promptly notify the WTO of its trade and related measures, adversely affecting the effective operation of the WTOs monitoring function. China urged members to actively fulfill their transparency obligations and, in the current volatile trade environment, proactively and promptly notify the WTO of new trade measures, particularly arrangements involving tariff changes, regardless of their legal binding force, all of which should be included in the monitoring and notification scope.The API reported that U.S. crude oil production increased by 416,000 barrels per day in the week ending November 28, compared with 337,000 barrels per day in the previous week.U.S. refined product imports for the week ending November 28 were 125,000 barrels per day, compared to 245,000 barrels per day in the previous week.

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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