Rights group says global brands are at risk of links to forced labor in China's minerals industry
LONDON — Several global brands are among dozens of companies at risk of using forced labor through their Chinese supply chains because they use critical minerals or buy minerals-based products sourced from China's far-western Xinjiang region, an international rights group said Wednesday.
The report by the Netherlands-based Global Rights Compliance says companies including Avon, Walmart, Nescafe, Coca-Cola and paint supplier Sherwin-Williams may be linked to titanium sourced from Xinjiang, where rights groups allege the Chinese government runs coercive labor practices targeting predominantly Muslim Uyghurs and other Turkic minorities.
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Business Upturn
8 minutes ago
- Business Upturn
UK PM Keir Starmer expresses grief over Ahmedabad Air India crash involving British nationals
By Aditya Bhagchandani Published on June 12, 2025, 16:09 IST United Kingdom Prime Minister Keir Starmer expressed deep sorrow over the tragic crash of Air India Flight AI171 in Ahmedabad, which was bound for London Gatwick and had several British nationals on board. Taking to social media on June 12, PM Starmer called the emerging scenes from the crash site 'devastating.' The scenes emerging of a London-bound plane carrying many British nationals crashing in the Indian city of Ahmedabad are devastating. I am being kept updated as the situation develops, and my thoughts are with the passengers and their families at this deeply distressing time. — Keir Starmer (@Keir_Starmer) June 12, 2025 'The scenes emerging of a London-bound plane carrying many British nationals crashing in the Indian city of Ahmedabad are devastating,' Starmer said in a post. 'I am being kept updated as the situation develops, and my thoughts are with the passengers and their families at this deeply distressing time.' According to the Directorate General of Civil Aviation (DGCA), the Boeing 787 Dreamliner, with registration VT-ANB, crashed just moments after taking off from Sardar Vallabhbhai Patel International Airport. The aircraft was carrying 242 passengers, including 53 British nationals, 169 Indian citizens, 1 Canadian national, and 7 Portuguese nationals. Emergency teams are still engaged in rescue and recovery efforts at the crash site in the Meghani Nagar area. The UK Foreign Office is working closely with Indian authorities to monitor the situation and provide support to affected families. Further updates from both governments are awaited. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Yahoo
12 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures slide ahead of fresh inflation data, as Trump renews tariff threat
US stock futures pulled back on Thursday ahead of a fresh batch of inflation data, as President Trump renewed his threat to impose "take it or leave it" tariffs on trading partners. Dow Jones Industrial Average futures (YM=F) fell roughly 0.7%, or almost 300 points, while S&P 500 futures (ES=F) dropped 0.5%. Contracts on the tech-heavy Nasdaq 100 (NQ=F) also moved 0.5% lower. Stocks are staying downbeat after the S&P 500 (^GSPC) snapped this week's run of wins, as investors add growing tensions in the Middle East to worries over Trump's trade policy, including the fragility of the US-China detente. For now the spotlight is on the May reading on wholesale inflation due later, after its consumer counterpart showed an easing in price pressures in the wake of Trump's "reciprocal" tariff hikes in April. Further hints that tariffs are sparing inflation could put the Federal Reserve in a tight spot ahead of its policy meeting next week. Bets on interest-rate cuts this year have mounted, but analysts expect officials to maintain their wait-and-see approach to economic data and policy decisions. While investor focus is shifting back to the Fed, Wall Street is still closely following the latest twists and turns in Trump's tariff policy in the hunt for clarity. Read more: The latest on Trump's tariffs US trading partners will get letters within a week or two to set their unilateral tariff rates, Trump reiterated on Wednesday, renewing the threat of no-deal hikes. 'At a certain point, we're just going to send letters out. And I think you understand that, saying this is the deal, you can take it or leave it,' the president said at the Kennedy Center in Washington. Meanwhile, Treasury Secretary Scott Bessent told Congress it's "highly likely" that countries in trade negotiations with the US will see an extension of the 90-day tariff pause, currently set to expire July 9. Boeing stock fell on Thursday by 8% in premarket trading after an Air India aircraft carrying over 200 people crashed minutes after taking off from the western Indian city of Ahmedabad. Aviation tracking site Flightradar24 said the plane was a Boeing 787-8 Dreamliner, one of the most modern passenger aircraft in service. Air India confirmed the plane, which was headed to Gatwick Airport in the UK, crashed in a civilian area near the airport, but have not specified if there are any fatalities. It is still not clear what caused the crash. According to Reuters, Boeing confirmed it was aware of the crash and was working to gather more information. The news comes as the planemaker is trying to rebuild trust relating to the safety of its jets and increase production under new Chief Executive Officer Kelly Orthberg. "here's revised fears of the problems that plagued Boeing aircraft and Boeing itself in recent years," said Chris Beauchamp, analyst at IG Group. Economic data: Producer Price Index (May); Initial jobless claims (week ending June 7) Continuing claims (week ending May 31) Earnings: Adobe (ADBE), Lovesac (LOVE), RH (RH) Here are some of the biggest stories you may have missed overnight and early this morning: Boeing stock slides after plane crashes in India The $11 trillion gap in costing Trump's 'big, beautiful' bill Gundlach: 'Reckoning is coming' for US debt Trump says he will set unilateral tariff rates within weeks Americans flunk on retirement literacy. Here's why it matters. Nvidia, Samsung to take stakes in robot AI startup Skild US long-dated debt faces crucial test in $22 billion auction Oracle stock jumps as AI boosts revenue forecast Here are some top stocks trending on Yahoo Finance in premarket trading: Oracle (ORCL) stock rose 8% in premarket trading on Thursday after the tech company raised its annual forecast, driven by demand for its AI related cloud services. "Oracle's once-stodgy image levels up to 'cloud-native mage,' and the competitive map now looks less like a classic three-player real time strategy and more like a battle-royale with everyone dropping in, looking for compute loot", said Michael Ashley Schulman, partner at Running Point Capital Advisors. GameStop (GME) shares slumped on Thursday by 11% after announcing a convertible notes offering. The press release said: "GameStop intends to use the net proceeds from the offering for general corporate purposes, including making investments in a manner consistent with GameStop's Investment Policy and potential acquisitions." Boeing (BA) stock fell 8% before the bell on Thursday after a plane crashed in India with more than 200 people on board near the airport in the country's wester city of Ahmedabad. The plane, which was headed to Gatwick airport in the UK, crashed in a civilian area near the airport. Oil prices pulled back early Thursday morning, reversing earlier overnight gains as traders assessed a US decision to pull some diplomats out of the Middle East. The decision to reduce staffing in Iraq came after Iran threatened to hit US assets in the region ahead of its talks with the US over nuclear-related activity. Brent crude futures fell to under $69 a barrel, while West Texas Intermediate crude traded below $68 a barrel — both down around 1%. Prices jumped over 4% on Wednesday amid reports of a potential evacuation. Reuters reports: Read more here. Gold (GC=F) rose for a second day in a row as tensions in the Middle East, coupled with Trump's claims of upcoming unilateral tariffs, pushed risk-averse investors toward the haven commodity. Bloomberg reports: Read more here. Boeing stock fell on Thursday by 8% in premarket trading after an Air India aircraft carrying over 200 people crashed minutes after taking off from the western Indian city of Ahmedabad. Aviation tracking site Flightradar24 said the plane was a Boeing 787-8 Dreamliner, one of the most modern passenger aircraft in service. Air India confirmed the plane, which was headed to Gatwick Airport in the UK, crashed in a civilian area near the airport, but have not specified if there are any fatalities. It is still not clear what caused the crash. According to Reuters, Boeing confirmed it was aware of the crash and was working to gather more information. The news comes as the planemaker is trying to rebuild trust relating to the safety of its jets and increase production under new Chief Executive Officer Kelly Orthberg. "here's revised fears of the problems that plagued Boeing aircraft and Boeing itself in recent years," said Chris Beauchamp, analyst at IG Group. Economic data: Producer Price Index (May); Initial jobless claims (week ending June 7) Continuing claims (week ending May 31) Earnings: Adobe (ADBE), Lovesac (LOVE), RH (RH) Here are some of the biggest stories you may have missed overnight and early this morning: Boeing stock slides after plane crashes in India The $11 trillion gap in costing Trump's 'big, beautiful' bill Gundlach: 'Reckoning is coming' for US debt Trump says he will set unilateral tariff rates within weeks Americans flunk on retirement literacy. Here's why it matters. Nvidia, Samsung to take stakes in robot AI startup Skild US long-dated debt faces crucial test in $22 billion auction Oracle stock jumps as AI boosts revenue forecast Here are some top stocks trending on Yahoo Finance in premarket trading: Oracle (ORCL) stock rose 8% in premarket trading on Thursday after the tech company raised its annual forecast, driven by demand for its AI related cloud services. "Oracle's once-stodgy image levels up to 'cloud-native mage,' and the competitive map now looks less like a classic three-player real time strategy and more like a battle-royale with everyone dropping in, looking for compute loot", said Michael Ashley Schulman, partner at Running Point Capital Advisors. GameStop (GME) shares slumped on Thursday by 11% after announcing a convertible notes offering. The press release said: "GameStop intends to use the net proceeds from the offering for general corporate purposes, including making investments in a manner consistent with GameStop's Investment Policy and potential acquisitions." Boeing (BA) stock fell 8% before the bell on Thursday after a plane crashed in India with more than 200 people on board near the airport in the country's wester city of Ahmedabad. The plane, which was headed to Gatwick airport in the UK, crashed in a civilian area near the airport. Oil prices pulled back early Thursday morning, reversing earlier overnight gains as traders assessed a US decision to pull some diplomats out of the Middle East. The decision to reduce staffing in Iraq came after Iran threatened to hit US assets in the region ahead of its talks with the US over nuclear-related activity. Brent crude futures fell to under $69 a barrel, while West Texas Intermediate crude traded below $68 a barrel — both down around 1%. Prices jumped over 4% on Wednesday amid reports of a potential evacuation. Reuters reports: Read more here. Gold (GC=F) rose for a second day in a row as tensions in the Middle East, coupled with Trump's claims of upcoming unilateral tariffs, pushed risk-averse investors toward the haven commodity. Bloomberg reports: Read more here. Sign in to access your portfolio
Hamilton Spectator
14 minutes ago
- Hamilton Spectator
The Latest: Air India plane bound for London crashes with 242 passengers onboard
Air India says a London-bound flight crashed shortly after taking off from Ahmedabad airport Thursday with 242 passengers and crew onboard. The airline said flight AI 171, a Boeing 787-8, crashed into a residential area near the airport in Ahmedabad, a northwestern city with a population of more than 5 million, five minutes after taking off at 1:38 p.m. local time. The plane was bound for London Gatwick Airport and was carrying 169 Indians, 53 Britons, seven Portuguese and one Canadian, Air India said. Visuals on local television channels showed smoke billowing from the crash site. Here's the latest: ___ Prime Minister Narendra Modi says crash is 'heartbreaking beyond words' In a social media post, Modi said the tragedy in Ahmedabad 'has stunned and saddened us.' 'In this sad hour, my thoughts are with everyone affected by it,' he said, adding he has been in touch with ministers and authorities who are working to assist those affected. ___ British Prime Minister Keir Starmer: Crash is 'devastating' 'The scenes emerging of a London-bound plane carrying many British nationals crashing in the Indian city of Ahmedabad are devastating,' Starmer said in a statement. Air India said the passengers onboard the Boeing 787-8 included 53 British nationals. Britain has very close ties with India and according to the 2021 U.K. census, there were nearly 1.9 million people in the country of Indian descent. Conservative leader Kemi Badenoch echoed the prime minister's message. 'My thoughts are with all those affected — especially the families of those on board, and the emergency teams responding to what appears to be a horrifying tragedy,' Badenoch said on the X social media platform. ___ Shares of Boeing tumble in pre-market trading Boeing said in a brief statement: 'We are aware of initial reports and are working to gather more information.' The crash comes days before the opening of the Paris Air Show, a major aviation expo where Boeing and European rival Airbus will showcase their aircraft and battle for jet orders from airline customers. Boeing has been in recovery mode for more than six years after Lion Air Flight 610, a Boeing 737 Max 8, plunged into the Java Sea off the coast of Indonesia minutes after takeoff from Jakarta, killing all 189 people on board. Five months later, Ethiopian Airlines Flight 302, a Boeing 737 Max 8, crashed after takeoff from Addis Ababa, Ethiopia, killing 157 passengers and crew members. Shares of Boeing Co. tumbled as much as 9% before trading opened in the U.S. ___ Last major passenger plane crash in India was in 2020 In August 2020 an Air India Express Boeing-737 skidded off a hilltop runway in southern India, killing 21 people. The worst air disaster in India was on Nov. 12, 1996, when a Saudi Arabian Airlines flight collided midair with a Kazakhastan Airlines Flight near Charki Dadri in Haryana state, killing all 349 on board the two planes. ___ India's foreign minister says 'deeply shocked' by the crash India's foreign minister, Subrahmanyam Jaishankar, said he was 'deeply shocked to learn about the flight crash in Ahmedabad' in a post on X. 'Our prayers are with the passengers and their families,' he said. ___ Passengers included Indian, British, Portuguese and Canadian nationals Air India in a statement said there were 242 passengers and crew members on board the Boeing 787-8 aircraft. Of these, 169 are Indian nationals, 53 British, one Canadian and seven Portuguese. The injured are being taken to the nearest hospitals. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
