U.S. Stock Futures Rise Ahead of Holiday-Shortened Week as AI Optimism Lifts Tech 
Precious Metals Rally as Silver and Platinum Outperform on Rate Cut Bets 
Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
Elon Musk Wins Reinstatement of Historic Tesla Pay Package After Delaware Supreme Court Ruling 
Asian Markets Rebound as Tech Rally Lifts Wall Street, Investors Brace for BOJ Rate Hike 
Harris Associates Open to Revised Paramount Skydance Bid for Warner Bros Discovery 
Asian Stocks Slide as AI Spending Fears and Global Central Bank Decisions Weigh on Markets 
Yen Near Lows as Markets Await Bank of Japan Rate Decision, Euro Slips After ECB Signals Caution 
China’s Power Market Revamp Fuels Global Boom in Energy Storage Batteries 
EU Approves €90 Billion Ukraine Aid as Frozen Russian Asset Plan Stalls 
Trump Defends Economic Record in North Carolina as Midterm Election Pressure Mounts 
Oil Prices Climb in Asian Trade as Venezuela Sanctions and Middle East Tensions Fuel Risk Premium 
FedEx Beats Q2 Earnings Expectations, Raises Full-Year Outlook Despite Stock Dip 
Italy Fines Apple €98.6 Million Over App Store Dominance 
U.S. Stock Futures Slip After CPI-Fueled Rally as Markets Weigh Economic Uncertainty 
Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz 
Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks 
Ralph Lauren, one of the most well-known American fashion brands, is being investigated in Canada. Based on the reports, the company was accused of using forced labor in its supply chain.
According to CBC News, the corporate ethics regulator based in Toronto revealed it had launched an investigation into the fashion brand. Sheri Meyerhoffer, the Canadian Ombudsperson for Responsible Enterprise, said it is not clear if Ralph Lauren Canada LP is exerting enough efforts to remove any elements in the company that may have links to the alleged mistreatment of the Uyghur minority in China.
Aside from the Canadian unit of Ralph Lauren, the ombudsman also asked the mining company, GobiMin Inc., to revise its policies and make it better to avoid any possible use of forced labor within its supply chains.
In her report, Meyerhoffer said that Ralph Lauren responded to her inquiries. Still, it insisted in November 2022 that it is an American company, so it is not covered by Canadian jurisdiction. She also revealed that in June, the firm submitted information about measures it has implemented to prevent any mistreatment of laborers.
The officials released a report on Tuesday about the issue as well, and part of the document reads: "Refusal to participate in the ombudsperson's initial assessment stage, followed by a last-minute shift indicating a willingness to participate and collaborate in the process, has made it difficult to complete the assessment."
The company's spokesperson also responded to address the reports from the ombudsperson last month. "The allegation of forced labor in Xinjiang is a huge lie made up by anti-China forces to denigrate China for the sheer purpose of destabilizing Xinjiang and containing China's development, under the pretext of the so-called 'human right issues,'" the spokesman said.
Meanwhile, The Daily Tribune reported that a coalition of 28 civil society organizations was the one that filed a complaint with the ethics regulators last year. They claimed that Ralph Lauren Canada has links with Chinese companies for the supply of its products.
Photo by: Julia anseele/Unsplash
