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☆ Shein, the fast fashion darling mulling a U.S. IPO, opens up about forced labor, data privacy
▼ + stars: | 2023-10-19 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +16 min

The committee is investigating Shein over concerns that Uyghur forced labor is being used in its supply chain and has gone undetected because of the de minimis provision. The committee has not yet drawn conclusions about forced labor in Shein's supply chain. When asked about claims of forced labor in Shein's supply chain, Claure told CNBC he doesn't "believe those allegations are correct." However, forced labor can still show up in other parts of the supply chain, said Chloe Cranston, the head of thematic advocacy programmes at Anti-Slavery International. In 2022, 11% of audits turned up "zero tolerance violations," including child labor, forced labor and wage violations, and 28 suppliers were terminated as a result, according to the company.

Persons: Elham Ataeiazar, Shein, Donald Tang, Matt Kennedy, they're, they've, Mike Gallagher, Elise Stefanik, Steve Scalise, Chip Somodevilla, we're, Marcelo Claure, Claure, Ralph Lauren, Rupert Hodges, Oritain, Chloe Cranston, Cranston, It's, it's, Shang, Jin Wei, Wei, Austin Knudsen, Chris Xu, Jade Gao, Knudsen, Gary Gensler Organizations: Wall, Bear, Chinese Communist Party, U.S, Renaissance Capital, CNBC, Bloomberg, Nike, Adidas, Republican National Committee, Washington , D.C, D.C, Target, Costco, Visual China, Getty, Workers, Columbia University's, Communist, CCP, Microsoft, AFP, U.S . Securities, Exchange Locations: Bear Stearns, U.S, China, Beijing, Xinjiang, Washington ,, Washington, Singapore, Nanjing, United States, Chinese, Guangzhou, Brazil, Turkey, India, Mexico, Montana

☆ Federal judge rips into Montana's statewide TikTok ban in preliminary injunction hearing
▼ + stars: | 2023-10-12 | by ( Brian Fung | ) edition.cnn.com time to read: +6 min

Montana became the first state to authorize a complete ban on TikTok when lawmakers passed SB419 in April and Gov. US officials have said that Chinese government influence over ByteDance could potentially lead to US TikTok users’ data being exposed to Beijing — which might facilitate spying, blackmail or other espionage activity. Alexander Berengaut, an attorney for TikTok, responded by quoting Montana Attorney General Austin Knudsen’s own past words about the ban that have characterized TikTok as an alleged agent of China. Ambika Kumar, an attorney representing the group of TikTok creators, said SB419 tramples on the First Amendment rights of consumers and of TikTok itself. Knudsen could have even gone on television to issue public service announcements warning Montanans not to use TikTok, Malloy suggested.

Persons: Greg Gianforte, Donald Molloy, Christian Corrigan, Corrigan, ” Corrigan, Montana’s, ByteDance, TikTok, Molloy, Alexander Berengaut, Austin Knudsen’s, ” Berengaut, ’, ” Molloy, Ambika Kumar, SB419 tramples, ” Kumar, “ It’s, Malloy, “, ”, Knudsen, ” Malloy Organizations: CNN, Gov, TikTok Locations: Montana, United States, China, Beijing, TikTok, Berengaut

U.S. flag and TikTok logo are seen in this illustration taken, June 2, 2023. The states say TikTok, which is used by more than 150 million Americans, has faced growing calls from U.S. lawmakers for a nationwide ban over concerns about possible Chinese government influence. Efforts to pass legislation to give the Biden administration more power to ban or crack down on TikTok have stalled. TikTok estimates 380,000 people in Montana use the video service, or more than a third of the state's 1.1 million people. Former U.S. President Donald Trump in 2020 sought to bar new downloads of TikTok but a series of court decisions blocked the ban from taking effect.

Persons: Dado Ruvic, TikTok, China's ByteDance, Austin Knudsen, Donald Trump, David Shepardson, Chris Reese Organizations: REUTERS, Chinese Communist Party, Biden, Republican, Former U.S, Thomson Locations: Virginia, Georgia, Alaska , Utah , Indiana , Nebraska , Indiana , Iowa, Kentucky, South Dakota, Montana, Former

☆ State officials want Shein to prove it doesn't use forced labor before it goes public
▼ + stars: | 2023-08-30 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

Fast-fashion juggernaut Shein is facing more scrutiny from elected officials in the U.S. who want the company to prove it doesn't use forced labor before it files for a widely rumored initial public offering. "It is apparent that SHEIN is attempting to launch an IPO before the end of this calendar year. Shein has faced accusations that it used forced labor from the Xinjiang region in China to fuel its meteoric rise as rumors swirl that it is preparing to go public. "These are in raw materials so when we have a raw material positive test, that means that raw material is removed from production," Pernot-Day said. Pernot-Day said one of Shein's primary objectives at the moment is to get its positive test results down to zero.

Persons: Gary Gensler, SHEIN, Austin Knudsen, Shein, Peter Pernot, Oritain Organizations: U.S . Securities, Exchange, Montana's, Sparc Group, Chinese Communist Party, Bloomberg, CNBC, Politico Locations: U.S, Xinjiang, China, Shein

☆ Montana AG asks court to reject TikTok challenge to state ban
▼ + stars: | 2023-08-21 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

A separate lawsuit has been filed by TikTok users in Montana. Knudsen said in a legal filing that Montana can ban harmful products, saying it does not violate free speech rights. The law does not impose penalties on individual TikTok users. TikTok estimates 380,000 people in Montana use the video service, or more than a third of the state's 1.1 million people. The American Civil Liberties Union this month called TikTok's ban unconstitutional and "a direct restriction on protected expression and association."

Persons: Dado Ruvic, China's ByteDance, General Austin Knudsen, " Knudsen, Donald Trump, Knudsen, David Shepardson, Jonathan Oatis Organizations: REUTERS, Tencent Holdings, Republican, HK, Biden, American Civil Liberties Union, Thomson Locations: Montana

☆ Judge sides with young activists in first-of-its-kind climate change trial in Montana
▼ + stars: | 2023-08-14 | by ( ) www.cnbc.com time to read: +3 min

Youth plaintiffs in the climate change lawsuit, Held vs. Montana, arrive at the Lewis and Clark County Courthouse, on June 20, 2023, in Helena, Mont., for the final day of the trial. A Montana judge on Monday sided with young environmental activists who said state agencies were violating their constitutional right to a clean and healthful environment by permitting fossil fuel development without considering its effect on the climate. That leaves slim chances for immediate change in a fossil fuel-friendly state where Republicans dominate the statehouse. Julia Olson, an attorney representing the youth, released a statement calling the ruling a "huge win for Montana, for youth, for democracy, and for our climate." "Montanans can't be blamed for changing the climate — even the plaintiffs' expert witnesses agreed that our state has no impact on the global climate.

Persons: Lewis, Kathy Seeley, Judge Seeley, Julia Olson, Olson, Emily Flower, Austin Knudsen Organizations: Republicans, Montana, Trust, Montana Attorney Locations: . Montana, Clark, Helena, Mont, Montana, U.S, West, Oregon

☆ Montana judge hands young plaintiffs significant victory in landmark climate trial
▼ + stars: | 2023-08-14 | by ( Ella Nilsen | ) edition.cnn.com time to read: +6 min

CNN —A Montana judge handed a significant victory on Monday to more than a dozen young plaintiffs in the nation’s first constitutional climate trial, as extreme weather becomes more deadly and scientists warn the climate crisis is eroding our environment and natural resources. While Seeley’s ruling won’t prevent mining or burning fossil fuels in the state, it will reverse a recently passed state law that prohibits state agencies from considering planet-warming pollution when permitting fossil fuel projects. “Their same legal theory has been thrown out of federal court and courts in more than a dozen states. The federal climate case alleges the federal government’s activities allowing further fossil fuel development, including permitting and leasing for oil and gas drilling, is violating young people’s constitutional rights to life, liberty and property. Olson recently told CNN she hopes the state case will boost the Juliana case.

Persons: Kathy Seeley, Montana’s, ” Seeley, ”, Julia Olson, Montana didn’t, general’s, Emily Flower, Austin Knudsen, ” Flower, “, Pat Parenteau, Olson, Biden, Daniel Farber, Juliana, it’s, ” Olson, ” Michael Gerrard, Gerrard, ” Farber Organizations: CNN, Trust, Montana, CNN Experts, Montana Supreme, Environmental, Vermont Law School, University of California, United, Children’s Trust, Biden administration’s Department of Justice, Court, Sabin, Climate, Columbia University Law School Locations: Montana, ” Montana, Hawaii, University of California Berkeley, United States

☆ Republicans question BlackRock fund governance, revisiting old concerns
▼ + stars: | 2023-07-07 | by ( Ross Kerber | ) www.reuters.com time to read: +2 min

July 7 (Reuters) - A group of 15 Republican state attorneys general have questioned whether directors of BlackRock mutual funds are sufficiently independent of the world's largest asset manager. The letter was addressed to ten individuals listed in a BlackRock filing as nominees to a board that oversees BlackRock closed-end mutual funds. Among other things, they said BlackRock fund trustees who serve as directors of companies where BlackRock owns more than 5% of shares could lead to independence concerns. They also cite how BlackRock fund directors are responsible for dozens of funds - exceeding BlackRock's own "overboarding" guideline for public company boards. Critics have raised similar issues in the past about whether well-paid mutual fund directors are positioned to speak up.

Persons: Austin Knudsen, Ross Kerber, Diane Craft Organizations: Republican, Reuters, Montana Attorney, BlackRock, AGs, Thomson Locations: Montana, BlackRock

WASHINGTON, July 5 (Reuters) - TikTok Inc on Wednesday asked a U.S. judge to block enforcement of a Montana state ban on use of the Chinese-owned app before it takes effect on Jan. 1. Chandlee said if the ban takes effect "we expect that additional advertisers and business partners will pull back from working with TikTok Inc (which is the entity that receives income from U.S. advertisers, including in Montana)." Montana could impose fines of $10,000 for each violation by TikTok. TikTok estimates 380,000 people in Montana use the video service, or more than a third of the state's 1.1 million people. TikTok's lawsuit names Montana Attorney General Austin Knudsen, who is charged with enforcing the law.

Persons: China's ByteDance, Donald W, Molloy, Blake Chandlee, TikTok, Chandlee, Donald Trump, Austin Knudsen, David Shepardson, Himani Sarkar, Robert Birsel Organizations: Inc, Wednesday, U.S, District, TikTok, Business, Constitution's, TikTok Inc, HK, Montana Attorney, Thomson Locations: Montana

☆ A lawsuit brought by kids in Montana could determine if the state has a constitutional duty to protect its residents from climate change
▼ + stars: | 2023-06-11 | by ( Associated Press | ) www.businessinsider.com time to read: +9 min

A lawsuit brought against the state of Montana by a group of kids heads to trial on Monday. The outcome has the potential to set an important precedent in the fight against climate change. "We've seen repeatedly over the last few years what the Montana state Legislature is choosing," Gibson-Snyder said. He argued climate change could ultimately benefit Montana with longer growing seasons and the potential to produce more valuable crops. A ruling in favor of the Montana plaintiffs could have ripple effects, according to Philip Gregory, Our Children's Trust attorney.

Persons: Grace Gibson, Snyder, she's, We've, Gibson, Austin Knudsen, Kathy Seeley, Seeley, Jim Huffman, Huffman, Terry Anderson, Anderson, Philip Gregory, Gregory said, John Roberts, Julia Olson, Jonathan Adler, Adler, I've Organizations: Service, Republican, Gibson, Montana's Constitution, Montana Attorney, Lewis & Clark Law School, Trust, U.S, Supreme, Lawmakers, Case Western Reserve University, Yale University Locations: Montana, U.S, Missoula, Montana's, Pennsylvania, Massachusetts, New York, Portland , Oregon, Helena, Hawaii, Oregon, Montana and Oregon, Cleveland, New Haven , Connecticut

Montana Governor Greg Gianforte on Wednesday signed legislation to ban TikTok in the state, effective Jan. 1. The TikTok users argue the state seeks to "exercise powers over national security that Montana does not have and to ban speech Montana may not suppress." The suit adds users believe the law violates their First Amendment rights. "Montana can no more ban its residents from viewing or posting to TikTok than it could ban the Wall Street Journal because of who owns it or the ideas it publishes," the lawsuit said. TikTok has faced growing calls from U.S. lawmakers and state officials to ban the app nationwide over concerns about potential Chinese government influence over the platform.

☆ The 10 Senate seats most likely to flip in 2024
▼ + stars: | 2023-04-30 | by ( Simone Pathe | ) edition.cnn.com time to read: +19 min

The GOP needs a net gain of one or two seats to flip the chamber, depending on which party wins the White House in 2024, and it’s Democrats who are defending the tougher seats. Jim Justice announcing his Senate bid in West Virginia – the seat most likely to flip party control in 2024. In a presidential year, the national environment is likely to loom large, especially with battleground states hosting key Senate races. Two businessmen with the ability to tap into or raise significant resources could be in the mix – Eric Hovde, who lost the GOP Senate nomination in 2012, and Scott Mayer. Still, unseating Cruz in a state Trump won by nearly 6 points in 2020 will be a tall order.

Meanwhile, Republicans, many from energy-producing states, have raised a growing chorus of challenges on ESG. This can be a problem for fund participants who do not share ESG goals, the Republicans wrote. Asset managers have argued that such memberships align with their fiduciary obligations, and some are giving clients more control over proxy votes. "Asset managers voting for the exclusion of one of their competitors has clear antitrust implications," the letter states. The resolutions were filed by activist shareholder group As You Sow, which the Republicans suggested had targeted Vanguard over its withdrawal.

Meanwhile, Republicans, many from energy-producing states, have raised a growing chorus of challenges on ESG. The latest letter built on concerns many of the same attorneys general brought to BlackRock last August. This can be a problem for fund participants who do not share ESG goals, the Republicans wrote. Another section of the Republicans' letter cites several pending shareholder resolutions that ask corporations to dial back the use of Vanguard Group retirement plan funds because of Vanguard's fossil fuel holdings. "Asset managers voting for the exclusion of one of their competitors has clear antitrust implications," the letter states.

☆ Visa, Mastercard pause work on new payments code for firearms sellers
▼ + stars: | 2023-03-09 | by ( Ross Kerber | ) www.reuters.com time to read: +3 min

The Geneva-based International Organization for Standardization (ISO) approved the new merchant category code (MCC) in September to help detect suspicious firearms and ammunition sales to combat gun violence. A Mastercard representative said on Thursday via email that such bills would cause "inconsistency" in how the code could be applied by merchants, banks and payment networks. "It's for that reason that we have decided to pause work on the implementation of the firearms-specific MCC," said the Mastercard representative, Seth Eisen. Accordingly, Visa is pausing implementation of the MCC," Visa said in a statement sent by a spokesperson. The moves mark a setback for gun-control activists, though the payment networks stopped short of saying they would reject the code outright.

☆ GOP attorneys general call on credit card companies to drop plans for gun store code
▼ + stars: | 2022-09-21 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

Two dozen Republican attorneys general are urging Visa, MasterCard, and American Express to drop their plans to adopt a new merchant category code for gun retailers, saying the move would infringe on consumers' privacy. In a letter sent to the companies Tuesday, the attorneys general warn the credit card companies that they could face legal action if they move forward with the code adopted by the International Organization for Standardization (ISO). On Saturday, Senate Republicans sent a similar letter to the three credit card companies. The letters come after the credit card companies announced plans to start applying the new sales code to transactions made at gun stores. "A fundamental principle for Visa is protecting all legal commerce throughout our network and around the world and upholding the privacy of cardholders who choose to use Visa," Visa said in a statement last week.

☆ GOP attorneys general threaten Visa, American Express and MasterCard over gun-store code
▼ + stars: | 2022-09-20 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —Two dozen Republican attorneys general warned Visa, American Express and MasterCard on Tuesday not to go ahead with their plans to add a new merchant category code for gun retailers. In a letter to the CEOs of the card giants, the officials expressed serious concern that adopting a new sales code for gun stores would harm the constitutional rights of gunowners and potentially violate consumer protection and antitrust laws. Previously, gun store sales were classified under a general merchandise or sporting goods category. In other words, legal gun purchases won’t be blocked by this new merchant category code, or MCC. “We do not believe private companies should serve as moral arbiters,” Visa said in a blog post last week.

☆ Montana defies order on transgender birth certificates
▼ + stars: | 2022-09-16 | by ( Associated Press | ) www.nbcnews.com time to read: +6 min

— Just hours after a Montana judge blocked health officials from enforcing a state rule that would prevent transgender people from changing the gender on their birth certificate, the Republican-run state on Thursday said it would defy the order. District Court Judge Michael Moses chided attorneys for the state during a hearing in Billings for circumventing his April order that temporarily blocked a 2021 Montana law that made it harder to change birth certificates. Moses said there was no question that state officials violated his earlier order by creating the new rule. ACLU attorney Malita Picasso expressed dismay with the agency’s stance and said officials should immediately start processing requests for birth certificate changes. State officials denied that the new rule preventing birth certificate changes was adopted in bad faith.

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