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Shareholders Foundation mail@shareholdersfoundation.com (8585)779-1554 (PRNewsfoto/Shareholders Foundation, Inc.) SAN DIEGO , Dec. 7, 2024 /PRNewswire/ -- The Shareholders Foundation, Inc. announced that a lawsuit was filed for certain investors in DMC Global Inc. ( NASDAQ : BOOM) shares Investors who purchased more than $100,000 in shares of DMC Global Inc. (NASDAQ: BOOM) between May and November 2024 have certain options and there are short and strict deadlines running. Deadline: February 04, 2025 . Those DMC Global Inc. (NASDAQ: BOOM investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. On October 21, 2024 , DMC Global Inc. disclosed that it was "revising its guidance" for the quarter ended September 30, 2024 , stating that the Company's adjusted EBITDA is now expected to be approximately $5 million , down from prior guidance for $15 -18 million, and that the third quarter financial results "will include inventory and bad debt charges at DynaEnergetics totaling approximately $5 million , as well as lower fixed overhead absorption on reduced sales at both Arcadia and DynaEnergetics." The Company also revealed that the financial results will include an approximate $142 million non-cash goodwill impairment charge "associated with DMC's December 2021 acquisition of a controlling interest in Arcadia ." On November 4, 2024 , DMC Global Inc released its third-quarter financial results for the period ending September 30, 2024 . Among other results, the Company reported third quarter sales of $152.4 million , down 11% sequentially and year-over-year, as well as the previously disclosed non-cash goodwill impairment charge. Shares of DMC Global Inc. (NASDAQ: BOOM) declined from $15.98 per share on May 3, 2024 , to as low as $7.16 per share on November 21 , 2024. On December 06, 2024 , an investor in NASDAQ: BOOM shares filed a lawsuit against DMC Global Inc. The plaintiff alleges that between May 3, 2024 and November 4, 2024 , the defendants made materially false and misleading statements and failed to disclose the following adverse facts about DMC Global's business, operations, and prospects which were known to defendants or recklessly disregarded by them: (i) the goodwill associated with the company's principal business segment, Acadia Products, was overstated due to the adverse events and circumstances affecting that reporting segment; (ii) DMC Global's materially inadequate internal systems and processes were adversely affecting its operations; (iii) the company's inadequate systems and processes prevented it from ensuring reasonably accurate guidance and that its public disclosures were timely, accurate, and complete; (iv) as a result, defendants misrepresented DMC Global's operations and financial results; and/or (v) as a result, the company's public statements were materially false, misleading, or lacked a reasonable basis when made. Those who purchased shares of DMC Global Inc. (NASDAQ: BOOM) should contact the Shareholders Foundation, Inc. CONTACT: Shareholders Foundation, Inc. Michael Daniels +1 (858) 779-1554 mail@shareholdersfoundation.com 3111 Camino Del Rio North Suite 423 San Diego, CA 92108 The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon. View original content to download multimedia: https://www.prnewswire.com/news-releases/lawsuit-for-investors-who-lost-over-100-000-in-shares-of-dmc-global-inc-nasdaq-boom-between-may-and-nov-2024-announced-by-shareholders-foundation-302325435.html SOURCE Shareholders Foundation, Inc.
INSW stock touches 52-week low at $38.11 amid market shiftsBritish Columbia Premier David Eby said Canada had to approach Donald Trump's plan to impose a 25 per cent U.S. tariff on Canadian goods from a position of strength, as business, trade and community organizations called for quick action on the trade threat. Eby said premiers and Prime Minister Justin Trudeau would meet this week to discuss "our strategic approach" to the U.S. president-elect's plan to impose the tariff on Canadian and Mexican imports immediately after his inauguration on Jan. 20 unless action is taken to stem the cross-border flow of migrants and illegal drugs. The B.C. premier made the comments Tuesday in a speech to the annual convention of the B.C. Federation of Labour in Vancouver. WATCH | Trump threatens 25% tariffs on Canada Trump threatens 25% tariffs on Canada, Mexico on 1st day in office 21 hours ago Duration 2:24 In a post on his Truth Social platform, U.S. president-elect Donald Trump has threatened to impose a 25 per cent tariff on all goods from Canada and Mexico until both countries stop what he called the ‘invasion’ of undocumented migrants and drugs crossing the U.S. border. "Obviously, this will be devastating to workers on both sides of the border," he said. "Both in the U.S. and in Canada, the impact on families will be profoundly significant." Canada and the U.S. have long been top trading partners on imports and exports, and the strength of this relationship puts Canada in a solid position when it comes to Trump's tariff threat, Eby said. "We have more in common with Americans than what separates us," he said. "We buy more American stuff than France, than China and Japan and the United Kingdom combined. So, we are negotiating, I believe, from a position of strength." Eby acknowledged improvements could be made on Canada's border, especially when it comes to policing contraband and illegal drugs. Donald Trump threatens 25% tariff on products from Canada, Mexico "We've called repeatedly, for example, for port police to ensure what comes into B.C. is not contraband, is not illicit drugs or precursor chemicals," he said. "These are things that we can do to make life better here in B.C., as well as respond to concerns that have been raised south of the border." Trump issued a statement on social media on Monday saying Canada and Mexico had the power to solve their border issues, which he called a "long-simmering problem." B.C. business leader calls for 'Team Canada approach' B.C. business organizations called on the provincial and federal governments to immediately address Trump's tariff plan, which they said will hurt businesses. The proposal would have "significant consequences" for B.C. businesses of all sizes and would harm communities and workers across the province, said Fiona Famulak, the president of the B.C. Chamber of Commerce and its chief executive officer. How seriously should we take Trump's tariff threat, and how could it affect Canadians? The B.C. Lumber Trade Council said the proposed tariff would hurt U.S. consumers and homebuyers by driving up the cost of building materials from Canada, while the Greater Vancouver Board of Trade said the U.S. was B.C.'s most important trading partner, accounting for 54 per cent of the province's commodity exports in 2023. "It is imperative that we engage constructively with our U.S. counterparts to advance our collective interests," said Bridgitte Anderson, board of trade president and CEO. Loonie falls to lowest level since 2020 after Trump issues tariff threat "This should act as a wake-up call to all levels of government that a new Team Canada approach is required." She said some of B.C.'s top exports to the U.S. are natural gas, softwood lumber, agricultural products and minerals and metals. Opposition B.C. Conservative Leader John Rustad called for the immediate recall of the B.C. Legislature to provide funding to secure borders to stop the flow of illegal drugs and migrants. B.C. Minister of Finance Brenda Bailey says the U.S. will always be a major trade partner but notes there is growing demand for commodities in Asia. (Mike McArthur/CBC) B.C. finance minister highlights trade opportunities in Asia Brenda Bailey, B.C.'s new minister of finance, said potential tariffs are concerning, but opportunities exist to improve relations with major trade partners such as Japan and South Korea. "The interest in British Columbia commodities in Asia is very, very high," Bailey told CBC's On the Coast . Ford says Trump's tariff threat 'like a family member stabbing you in the heart' "The United States will always remain important, but British Columbia is uniquely well-placed to really, really enhance our trade relationships elsewhere as well." B.C. government data says the province's exports to the U.S. in the first half of 2024 were worth $16.9 billion, down 1.1 per cent compared to the same period last year.
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BOZEMAN, Mont. (AP) — Adam Jones ran for 197 yards and two touchdowns and Montana State ran over Montana 34-11 on Saturday to reclaim the Brawl of the Wild trophy. The Bobcats (12-0, 8-0 Big Sky Conference) wrapped up the 123rd meeting in this rivalry with 420 yards, 326 on the ground. Montana State capped its first unbeaten season and can match the school record for consecutive wins with a playoff win in two weeks. The Bobcats, ranked second in the FCS coaches poll, should be the top seed in the playoffs after top-ranked North Dakota State lost its finale to fifth-ranked South Dakota. Montana (8-4, 5-3), ranked 10th, is expected to add to its record 27 FCS playoff appearances but will not have a first-round bye in the 24-team bracket. Montana State quarterback Tommy Mellott was 6-of-12 passing for 94 yards with a touchdown in poor conditions and added 50 yards and a touchdown on the ground. He has helped the Bobcats score at least 30 points in every game this season Mellott had a 5-yard touchdown run on MSU's first possession and Mellott found Jones for a 35-yard touchdown early in the second quarter for a 14-3 lead. Myles Sansted had two field goals in the final two minutes, including a 49-yarder as time expired for a 20-3 halftime lead. Jones dominated the second half and scored two short touchdowns. Eli Gillman scored on a 1-yard run for Montana's touchdown between the Jones' touchdowns. The Grizzlies had just 234 yards and went 2 of 12 on third down. AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football . Sign up for the AP’s college football newsletter: https://apnews.com/cfbtop25NACOGDOCHES, Texas (AP) — Kobe Stewart scored 17 points as Presbyterian beat Monmouth 71-61 on Saturday. Stewart had five rebounds and six assists for the Blue Hose (5-3). Kory Mincy added 16 points while shooting 4 for 11 (3 for 8 from 3-point range) and 5 of 6 from the free-throw line while they also had five rebounds. Jamahri Harvey shot 5 for 14, including 3 for 9 from beyond the arc to finish with 13 points. The Hawks (0-8) were led in scoring by Jack Collins, who finished with 25 points, seven rebounds and two steals. Monmouth also got 12 points and two steals from Justin Ray. Madison Durr had seven points. The loss is the eighth straight for the Hawks. Presbyterian took the lead with 4:56 left in the first half and never looked back. Stewart led his team in scoring with 13 points in the first half to help put them ahead 45-32 at the break. Presbyterian used an 8-0 run in the second half to build a 17-point lead at 61-44 with 8:51 left in the half before finishing off the win. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar . For copyright information, check with the distributor of this item, Data Skrive.
Clemson added a quarterback to its 2025 recruiting class on Tuesday with Chris Denson announcing his decision to flip from Coastal Carolina. The 6-foot-2, 175-pounder from Plant City High School in Florida had been committed to the Chanticleers since April and has yet to visit Clemson's campus. Tigers coach Dabo Swinney has been putting a push on to flip Denson in recent weeks following the decommitment of Blake Hebert last month. "I just feel like my development will be through the roof," Denson told On3.com about his decision to switch. "Playing under one of the best coaches in the country and knowing that I haven't reached my potential yet, I know that they will take me to that level." A three-star recruit, Denson is ranked as the No. 50 quarterback in the nation by the 247 Composite. He is the 14th player to commit to the Tigers, who have also seen six players decommit this cycle, according to The Greenville News. "What makes Clemson special is just the level of ball that they are playing at," Denson said. "And the way they compete. I'm a huge competitor, so that's the type of place and people I want to surround myself around." --Field Level Media
ROCHESTER — Minnesota’s public schools receive millions of dollars in federal funding, and state education leaders are uncertain what to expect in light of President-elect Donald Trump’s indications that he would eliminate the U.S. Department of Education. Rochester Public Schools Superintendent Kent Pekel said it’s too early to plan the district’s operations around what may or may not happen under the new administration, but that it’s hard to imagine the federal department going away completely. ADVERTISEMENT “If it didn’t exist, you would largely have to reinvent it,” Pekel said about the Department of Education. “You would have to put the functions in other agencies because I think very few Americans would want to see them go away altogether.” He went on to highlight the federal department’s role in administering student loans, undertaking education-focused research, and providing funding for special education. Minnesota leaders are also unsure what education could look like under a new administration. Minnesota Department of Education Communications Director Sam Snuggerud said it's too early to comment about what may be ahead for the state-level department in light of speculation about its federal counterpart. “MDE remains committed to ensuring every student receives a world-class education from qualified teachers in a safe, nurturing school environment, regardless of who is elected in Washington, D.C., or St. Paul,” Snuggerud said via email following the election. On Thursday, Nov. 21, U.S. Sen. Mike Rounds, a South Dakota Republican, introduced a bill to eliminate the Department of Education. Under the proposed bill, DOE duties would be redistributed to other federal departments. "Local school boards and state departments of education know best what their students need, not unelected bureaucrats in Washington, D.C.," Rounds said in a statement. “For years, I’ve worked toward removing the federal Department of Education. I’m pleased that President-elect Trump shares this vision, and I’m excited to work with him and Republican majorities in the Senate and House to make this a reality. This legislation is a roadmap to eliminating the federal Department of Education by practically re-homing these federal programs in the departments where they belong, which will be critical as we move into next year.” Chris Williams, press secretary for the statewide teachers union Education Minnesota, also said it’s too early to say anything definitive about how the new presidential administration may impact Minnesota’s schools. ADVERTISEMENT It was not all that long ago in the grand scheme of history that the federal department was created in its current form. It came to be under the administration of Jimmy Carter in 1979 through the Department of Education Organization Act. However, according to a history on the department's website, there was an “office of Education” as far back as 1868. The history on the department’s website goes on to say that “over the years, the office remained relatively small, operating under different titles and housed in various agencies.” In the 1950s, the federal government started dedicating more funding to science-based education programs in the wake of the space race with the Soviet Union. The federal government continued expanding its educational priorities up until the creation of the Department itself. “This expansion continued in the 1970s with national efforts to help racial minorities, women, people with disabilities and non-English-speaking students gain equal access to education,” the Department’s history reads. Despite the Department of Education's role in funding schools, the actual policies, curriculum and standards — the core of the education itself — is delegated to the individual states. There has been speculation swirling about the Department of Education’s future since long before Election Day. Beyond Trump’s own indications, the possibility of downscaling the department was also a component of Project 2025, a political playbook drafted by the conservative think tank The Heritage Foundation, which isn’t officially affiliated with the presidential administration. According to neaToday, a publication of the National Education Association, Project 2025’s “overall goal is to strip the federal role in education down to ‘that of a statistics-gathering agency that disseminates information to the states.’” ADVERTISEMENT The NEA went on to say Project 2025 would put more stress on “already tight education budgets," and that it would undermine “the academic outcomes of 2.8 million of the nation’s most vulnerable students.” Even though state governments control most aspects of how public schools operate, the federal department still plays a role. In Rochester, federal funding makes up 4% of the school district’s 2024-25 budget, amounting to more than $17 million. Not unlike the attention to science education in the 1950s in the lead-up to the Department's creation, today’s students are entering a world of constant technological change. Pekel said it’s hard to see how the elimination of the federal department would be helpful. “No high-performing system would do this; no high-performing company would say ‘let’s get rid of the strategy at the central level,'” Pekel said. “I think we’ve learned that anything’s possible.”None
Converting a layup plus a foul and putting away the Boston Celtics in Game 7 of the 2018 Eastern Conference Finals, there went LeBron James , basking in the glow of clinching an unprecedented eighth consecutive NBA Finals appearance, something no player has done in the history of the game. It was a feat so striking that former head coach and then announcer Jeff Van Gundy said live on the ESPN telecast that lifting the Cleveland Cavaliers to the 2018 NBA Finals was James' "greatest achievement," a screaming claim that didn't sit well with everyone. Not so fast There's no question that LeBron's 2018 postseason run to the Finals was a tour de force. From 30 and 40-point triple-doubles to stunning game-winners, there was no shortage of storybook highlights for the King. And while virtually every performance in that tournament assembled a stronger case for No. 23 being the undisputed best player in the game, when talking legacy, things come in a completely different context, at least according to Stephen A. Smith . "I love how y'all just ignore eras," SAS cracked , showing his intense pushback for Gundy's claim. "Doesn't competition matter? I just broke down for you a bunch of novices in Indiana, petrified puppies in Toronto, a Boston squad without Gordon Hayward and Kyrie Irving, and y'all are talking about this is the greatest achievement in LeBron James' career? Oh, my lord. Did Jeff Van Gundy go and buy him a dozen roses, too? Is that next?" Related: When "Big O" took a swipe at modern basketball and Steph: "If you can dunk or make a three-point shot, you're the greatest thing since sliced bread" Overrated achievement? "2018 LeBron" is synonymous with one of the greatest times in his career. Suddenly dumped by Irving—who demanded a trade from the Cavaliers in July 2017—a year earlier, this was supposed to be the season James finally fell off the tracks. Without another NBA All-Star by his side and former All-Star Kevin Love battling with injuries throughout the regular season, Cleveland was engulfed with internal and external issues strong enough to completely derail a team's chances. LeBron was on a mission during his last playoff run in 2018 👑 34 PPG 👑 9 RPG 👑 9 APG 👑 54% FG 👑 2 buzzer-beaters 👑 8th straight Finals appearance pic.twitter.com/iDgxfM6h0H By midseason, many had written the Cavs off as a contender to win the East crown. Months later, James and Co. were up 2-o on the East-leading Toronto Raptors before a walk-off buzzer-beater off the backboard authored by No. 23 in Game 3 effectively punched his team's ticket to the conference finals. Falling 0-2 to the Celtics, a team without Irving and Hayward for months, it appeared over for the Wine and Gold. Then, a pair of masterpieces by James on his home floor in Games 3 and 4 tied up the series. In Game 6, when tagged with a 3-2 deficit, the four-time MVP went herculean, punctuating a sparkling performance with a pair of dagger 3-pointers in the face of rookie Jayson Tatum. In Game 7, with his 35 points and 15 rebounds, grit, and enthralling basketball IQ, sometimes single-handedly outmatching the five Boston starters with just his mind, LeBron added to his list of greatest hits. Related: “Compared to LA, it's hell” - Shannon Sharpe suggests LeBron James will never move to Dallas due to his family
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(Bloomberg) — The stock market’s growth engine is running on fumes. For years, investors have counted on the biggest technology companies to power equity indexes higher based on their strong earnings and expectations for even more profits in the future, most recently fueled by the development of artificial intelligence services. Those days appear to be over, at least for now. And it’s forcing investors to think of other ways to play the latest equities bull market as it enters its third year. The issue is profits. The Magnificent Seven tech giants — Alphabet Inc., Amazon.com Inc., Apple Inc., Meta Platforms Inc., Microsoft Corp., Nvidia Corp. and Tesla Inc. — are expected to post a combined earnings increase of 18% in 2025, down from a projected 34% for 2024, according to data compiled by Bloomberg Intelligence. Strip out Nvidia, arguably the biggest beneficiary of Wall Street’s AI mania, the rest of the group is expected to post a measly 3% increase in profits in 2025. An 18% profit expansion is good news for just about any sector — but Big Tech. Should the estimate come to fruition, the high-flying cohort will fall behind health care in full-year earnings growth and not significantly above the materials and industrials groups. Meanwhile, the S&P 500 Index’s earnings growth is projected to reach 13% in 2025, up from 10% this year. In other words, the tech giants are no longer setting the pace for Corporate America. “The Mag Seven is not necessarily going to be the engine of growth for the market that it has been for the last year or so,” said Julian McManus, portfolio manager at Janus Henderson. Leaving Tech Investors are already responding. In the week through Dec. 4, the information technology group had its largest outflow in six weeks at $1.4 billion, according a Bank of America note on Friday citing data from EPFR Global. Small-cap stocks, which have been trailing the broader market this year, had $4.6 billion of inflows, putting them at an annualized record high of more than $30 billion. McManus said he’s watching for upside surprises in free cash flow growth and sees alternatives to Big Tech all over the world, not just in the US, where he’s “significantly underweight.” He likes energy producers, which are benefiting from power-thirsty data centers and are a popular play, and sees opportunities in biotech as well as chip design software companies like Cadence Design Systems Inc. A big part of the search for Big Tech alternatives is purely about their stock prices. Just this week, the Magnificent Seven companies traded at 41 times projected earnings, the highest valuation multiple since early 2022, according to data compiled by Bloomberg. The entire S&P 500 has seen a jump as well, with its ratio of 23 times the highest since 2021. But it’s still almost half the price of the tech giants’ valuations. “You’re being overly risky being in just the megacaps,” said Phil Blancato, chief executive officer at Ladenburg Thalmann Asset Management. “You’re looking at companies that are trading at valuations that are quite rich. Some of the numbers for the rest of the S&P 500 don’t look bad, they look good. I’d rather buy the rest of the S&P 500 at 18 times (forward earnings) versus the entire S&P 500 at 23 or 24 times.” He isn’t alone in his skepticism. Wall Street pros like Michael Wilson, chief US equity strategist at Morgan Stanley, and Brian Belski, chief investment strategist at BMO Capital Markets, also see the equities rally continuing to broaden to sectors beyond Big Tech, a trend that began in the second half of the year. “Euphoria around megacap tech is evident in growth expectations for the Magnificent 7 approaching all-time highs, just when their earnings are slated to decelerate,” Bank of America strategists led by Savita Subramanian wrote in a note to clients this week. With the cohort accounting for about a third of the S&P 500’s weighting, “we see more opportunity in the average stock than in the index,” the strategists wrote. Magnificent One However, that isn’t to say all Magnificent Seven stocks are created equal. Because there’s one company that stands head and shoulders above the rest: Nvidia. Relentless demand for its accelerators used in AI computing has sent earnings soaring. Nvidia is projected to deliver $71 billion in profits on revenue of $129 billion next year, up 49% and 52%, respectively, according to the average of analyst estimates compiled by Bloomberg. This explains why the stock is the seventh best performer in the Russell 1000 Index this year with a 193% gain — and the only Magnificent Seven company in the top 50. Much of Nvidia’s success is being driven by spending from its megacap peers. Microsoft, Alphabet, Amazon and Meta Platforms are projected to show more than $200 billion in combined 2024 capital spending to beef up computing capacity. And they’ve pledged to spend significantly more next year. That’s great for Nvidia, but investors are questioning when those investments will pay off for the rest. “I wouldn’t be surprised to see the Mag Seven sort of break up because gravity is going to catch up,” Janus Henderson’s McManus said. Of course, Wall Street has underestimated Big Tech’s strength in the past. At the start of 2024, analysts were projecting earnings growth of 19% for the Magnificent Seven, and the group is now on track for a 34% increase. And despite the numbers, the tech giants still retain their allure with investors, especially if the economy deteriorates. Scott Chronert, US equity strategist at Citigroup, likens the group to a defensive sector like consumer staples, whose products people need regardless of economic circumstances. The point being, megacaps remain a safe bet in uncertain times — like now. “If you were to sell big tech, where would you go?” said Andrew Choi, portfolio manager at Parnassus Investments. “Do you really want to bet on rate-sensitive stocks where you need rates to go a certain direction? Do you want to chase places that have done well? Big tech remains the best, easiest answer for what you want regardless of what market conditions end up being.” —With assistance from Ryan Vlastelica.
Blue Origin’s New Glenn Rocket Reaches Launch Position: A Giant Leap Towards OrbitAutomakers have come under scrutiny following the release of a report by Amnesty International, which exposes widespread human rights violations within the supply chains of electric vehicle (EV) manufacturers. Among the 13 companies assessed, Chinese automaker and global leader in EVs, BYD, received the lowest score, 11 out of 90, due to its refusal to disclose critical information about their supply chain, human rights and smelting practices. But they weren’t the only automaker with a low score, Mitsubishi and Hyundai followed closely scoring 13 and 21. None of the three automakers published information about how human rights can impact battery metal sourcing. Additionally, none of the three reported mapping their supply chains or identifying risks. They also failed to respond to Amnesty’s findings. It’s a stark contrast to the top of the list, German automaker Mercedes-Benz, which scored 51. But even then, Amnesty believes a total of 68 points or more shows a level of commitment to human rights issues. The global push towards electrification means that automakers are relying heavily on minerals like cobalt, nickel and lithium, which are crucial for battery production. To put it into perspective - an EV requires six times more minerals than a conventional car and the demand could grow tenfold by 2040, according to International Energy Agency. Amnesty International secretary-general Agnes Callamard believes the rise and demand for metals required to make EV batteries is putting “immense pressure” on mining-affected communities. “The human rights abuses tied to the extraction of energy transition minerals are alarming and pervasive and the industry’s response is sorely lacking. Communities are suffering from forced evictions, health issues caused by pollution and difficulties accessing water. As demand for electric vehicles increases, manufacturers must ensure people’s human rights are respected.” she said. These minerals are essential for EV battery production but Callamard believes mining for these minerals can entail huge risks for people and the environment. “Amnesty International’s previous research has shown how industrial cobalt is linked to forced evictions in the Democratic Republic of Congo. Car companies need to use their massive leverage as global minerals buyers to influence upstream mining companies and smelters to mitigate these human rights risks.” she said. The rush to secure resource has led to consequences like child labour, forced evictions and unsafe working conditions, particularly in countries like Democratic Republic of Congo, which supplies 25 per cent of the world’s cobalt. In 2023, the Business and Human Rights Resource Centre (BHRRC) recorded a marked increase in labour violations, worker deaths and environmental harm. Out of the offenders, state owner China Minmetals topped the list. Tesla and Volkswagen have both maintained ties to the mining giants like Glencore and Minmetals despite allegations of unsafe working conditions and exploitative practices at their sites. Since 2010, BHRRC has documented 630 allegations of human rights abuses involving seven key minerals critical to EVs including cobalt, nickel and lithium. Many of these allegations are tied to the same companies that Amnesty Internal revealed in their report - BYD, Volkswagen and Tesla. Amnesty International said there has been some progress since they first drew attention to the matter in 2017, however most of the companies included in their report are not demonstrating sufficient standards of human rights. “Amnesty International is calling on all car makers to improve their human rights due diligence efforts and bring them in line with international human rights standards,” she said. “We are also calling on governments to strengthen their own human rights due diligence regulation over the companies incorporated on their territories or their exports and import licenses.”
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SEC and Big Ten powers lead the way on signing day as prospects finalize their college selections
