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Corporate Corruption News Stories

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Dangerous lab leaks happen far more often than the public is aware
2023-05-30, The Guardian (One of the UK's Leading Newspapers)
Posted: 2024-03-25 20:38:55
https://www.theguardian.com/commentisfree/2023/may/30/lab-leaks-shrouded-secrecy

Safety breaches happen every year at labs experimenting with dangerous pathogens. Scientists and other lab workers are bitten by infected animals, stuck by contaminated needles and splashed with infectious fluids. Yet the public rarely learns about these incidents, which tend to be shrouded in secrecy. For example, when a safety breach occurred in 2019 at a University of Wisconsin-Madison lab experimenting with a dangerous and highly controversial lab-created H5N1 avian influenza virus, the university never told the public – or local and state public health officials. In another incident, a pipe burst on a lab waste-holding tank in 2018 at a US army research facility at Fort Detrick, near Washington DC. Workers initially dismissed that any safety breach had occurred. Then army officials belatedly issued public statements that left out key details and created the misleading impression that no dangerous pathogens could have left the base. Yet my reporting has uncovered government documents and even a photo showing the giant tank spewing an estimated 2,000 to 3,000 gallons of unsterilized lab wastewater near an open storm drain that feeds into a popular public waterway. Regulation of lab safety in the US and around the world is fragmented and often relies heavily on scientific institutions policing themselves. There is no comprehensive tracking of which labs hold collections of the most dangerous viruses, bacteria and toxins.

Note: Watch our latest Mindful News Brief series on the strong evidence that bioweapons research created COVID-19. For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the scientific community from reliable major media sources.


World Bank Chief Apologizes to Staff for Handling of Child Sex Abuse Scandal
2024-03-14, The Intercept
Posted: 2024-03-25 20:31:56
https://theintercept.com/2024/03/14/world-bank-child-sex-abuse-scandal-bridge...

Over the past year, Neha Wadekar and I unearthed a whistleblower’s shocking claim of a cover-up of a child sex abuse scandal, a who’s who of international do-good financiers, and a for-profit education chain operating mostly in Africa called Bridge International Academies. An investigator working for the World Bank was stymied and retaliated against. We got notes from a critical phone call between World Bank officials and company executives showing a plan to “neutralize Adler” — the lead internal investigator who had uncovered the allegations — and to slow down the process. “Time matters,” as one person on the call put it. “Need to delay until Series F.” (That’s a name for a financing round.) Following our reporting, Sens. Elizabeth Warren, D-Mass., and Peter Welch, D-Vt., sent multiple letters to the World Bank, warning the new president that how he responded to the scandal would be used by Congress as a proxy for his broader seriousness about reforming the bank. “We view the Bridge case as a litmus test for the conversation currently taking place around IFC’s responsibility to remedy social and environmental harm caused by its projects, especially those where IFC is not following its own policies,” the senators wrote. Bridge International Academies was backed by the World Bank’s IFC, as well as prominent Silicon Valley and venture capital leaders, including private funds linked to Bill Ackman, Mark Zuckerberg, and Pierre Omidyar.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and sexual abuse scandals from reliable major media sources.


A is For Abuse: Two Harvard Grads Saw Big Profits in African Education. Children Paid the Price.
2023-03-23, The Intercept
Posted: 2024-03-25 20:30:03
https://theintercept.com/2023/03/23/bridge-schools-africa-kenya-education/

Bridge International Academies ... grew into a chain of schools providing a homogeneous curriculum developed by researchers in Cambridge, Massachusetts, to hundreds of thousands of students in Kenya, Uganda, Nigeria, Liberia, and India. Today, it is the largest for-profit primary education chain in the world. The company is financed today by some of the highest-profile do-good donors in the game — or rather, the for-profit arms of their networks. In March 2022, the World Bank’s financing arm — the International Finance Corporation — quietly divested from NewGlobe, the parent company of Bridge International. A series of abuse and neglect allegations in Kenya ... had caught the eye of a Nairobi-based human rights group, the East African Centre for Human Rights, or EACHRights, as well as the internal watchdog at the World Bank, known as the Compliance Advisor Ombudsman, or CAO. “I find it deeply suspect that CAO uncovers explosive child sexual abuse allegations in the course of a compliance investigation and shortly thereafter, the World Bank president unexpectedly terminates the head of the CAO,” said one well-placed civil society representative whose clients have complaints before the CAO. “Meanwhile, three years after the child sexual abuse allegations came to light, the CAO has still not produced an investigation report.” It’s very sad, because the CAO has always been the kind of beacon of accountability of any kind of institution, public or private. No more.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and sexual abuse scandals from reliable major media sources.


Biometrics Giant Accenture Quietly Took Over LA Residents’ Jail Reform Plan
2024-03-12, The Intercept
Posted: 2024-03-25 20:28:30
https://theintercept.com/2024/03/12/los-angeles-jail-accenture-measure-j/

In November 2020 ... a ballot initiative known as Measure J passed with 57 percent support, amending the LA County charter so that jailing people before trial would be treated as a last resort. In June, LA County signed over the handling of changes to pretrial detention under Measure J to the consulting firm Accenture, a behemoth in the world of biometric databases and predictive policing. Accenture has pushed counterterror and policing strategies around the globe: The company built the world’s biggest biometric identification system in India, which has used similar technologies to surveil protesters and conduct crowd control as part of efforts by Prime Minister Narendra Modi’s Bharatiya Janata Party to investigate the citizenship of Muslim residents. Accenture ballooned into a giant in federal consulting over the course of the “war on terror,” winning hundreds of millions of dollars in lucrative contracts from federal agencies like the Department of Homeland Security for projects from a “virtual border” to recruiting and hiring Customs and Border Protection and Border Patrol agents. In 2006, Accenture won a $10 million contract for a DHS biometric ID program, the world’s second biggest, to collect and share biometric data on foreign nationals entering or leaving the U.S. Several LA-based advocates told The Intercept that the contract is yet another development that calls into question the county’s commitment to real criminal justice reform.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and the disappearance of privacy from reliable major media sources.


Musk's SpaceX is building spy satellite network for US intelligence agency, sources say
2024-03-16, Reuters
Posted: 2024-03-25 20:26:34
https://www.reuters.com/technology/space/musks-spacex-is-building-spy-satelli...

SpaceX is building a network of hundreds of spy satellites under a classified contract with a U.S. intelligence agency, five sources familiar with the program said. The network is being built by SpaceX's Starshield business unit under a $1.8 billion contract signed in 2021 with the National Reconnaissance Office (NRO), an intelligence agency that manages spy satellites. The plans show the extent of SpaceX's involvement in U.S. intelligence and military projects and illustrate a deeper Pentagon investment into vast, low-Earth orbiting satellite systems aimed at supporting ground forces. If successful, the sources said the program would significantly advance the ability of the U.S. government and military to quickly spot potential targets almost anywhere on the globe. Reuters reporting discloses for the first time that the SpaceX contract is for a powerful new spy system with hundreds of satellites bearing Earth-imaging capabilities that can operate as a swarm in low orbits. The planned Starshield network is separate from Starlink, SpaceX's growing commercial broadband constellation that has about 5,500 satellites in space. The classified constellation of spy satellites represents one of the U.S. government’s most sought-after capabilities in space because it is designed to offer the most persistent, pervasive and rapid coverage of activities on Earth. "No one can hide," one of the sources said of the system’s potential capability, when describing the network's reach.

Note: For more along these lines, see concise summaries of deeply revealing news articles on intelligence agency corruption and the disappearance of privacy from reliable major media sources.


Chemical in Water Bottles Linked to Child Obesity
2024-03-01, Newsweek
Posted: 2024-03-18 19:45:30
https://www.newsweek.com/chemical-water-bottles-child-obesity-1875069

A chemical found in water bottles has been linked to child obesity, according to a new study. The synthetic chemical Bisphenol A, or BPA, was found in a variety of widely used products, such as plastic water bottles and eyewear. But it is also a chemical known to disrupt the body's hormones. The chemical, which can make its way into other avenues, such as food and the soil, accumulates in the body's tissues and organs when ingested. It is known to affect weight and can affect certain cells. A new study published in mSystems found that this chemical could be playing a role in causing different bacteria groups in children of normal weight than those who were overweight. "We found that the gut microbial community responds differently to BPA exposure depending on the BMI (body-mass index) of the individual," [said] microbiologist Margarita Aguilera of the University of Granada. "[Those connections] underscore the intricate interplay between gut microbiota and potential human pathophysiology resulting from cumulative BPA exposure." Researchers ... found overall that there were more unique bacteria groups in the children of a normal weight. This strongly suggests that the bacteria in those children may be able to fight off harmful chemicals like BPA. This study, and future studies into the effects of BPA, "could point to future interventions and policy changes that may reduce the risk of childhood obesity worldwide," Aguilera said.

Note: For more along these lines, see concise summaries of deeply revealing news articles on health and corporate corruption from reliable major media sources.


Cancer-causing chemical found in skincare brands including Target, Proactive, Clearasil
2024-03-11, USA Today
Posted: 2024-03-18 19:43:34
https://www.usatoday.com/story/money/2024/03/11/carcinogen-linked-popular-acn...

High levels of a chemical known to cause cancer have been found at "unacceptably high levels" in popular acne products from brands like Proactive, Target's Up & Up, Clinique, and Clearasil, according to a recent report by independent laboratory Valisure. Benzene, a known human carcinogen, was found to develop in products with benzoyl peroxide, a chemical used to treat acne, at a level of over 800 times the concentration limit of 2 parts per million set by the U.S. Food and Drug Administration, the March 6 report said. The drug product was found to be "fundamentally unstable" especially when stored at high temperatures. The report found a Proactiv product left in 158 degrees Fahrenheit of a hot compact car resulted in the detection of benzene at around 1,270 times the Environmental Protection Agency’s calculated threshold for increased cancer risk. "There is not a safe level of benzene that can exist in any skin care product, over the counter or prescription," Christopher Bunick, MD, PhD, Associate Professor of Dermatology at Yale University, said in a statement for Valisure. The report also found that benzene can leak out of packaging and "pose a potential inhalation risk" to consumers, according to the report. The company sent a citizen petition to the FDA on Tuesday describing its report and requesting "recalls and a suspension of sales for products containing the active pharmaceutical ingredient benzoyl peroxide."

Note: For more along these lines, see concise summaries of deeply revealing news articles on health and corporate corruption from reliable major media sources.


US Court Sides With Apple, Tesla, Other Tech Companies Over Child Labor in Africa
2024-03-05, US News & World Report/Reuters
Posted: 2024-03-18 19:36:46
https://www.usnews.com/news/top-news/articles/2024-03-05/us-appeals-court-dis...

A federal appeals court on Tuesday refused to hold five major technology companies liable over their alleged support for the use of child labor in cobalt mining operations in the Democratic Republic of the Congo. In a 3-0 decision, the U.S. Court of Appeals for the District of Columbia ruled in favor of Google parent Alphabet, Apple, Dell Technologies, Microsoft and Tesla, rejecting an appeal by former child miners and their representatives. The plaintiffs accused the five companies of joining suppliers in a "forced labor" venture by purchasing cobalt, which is used to make lithium-ion batteries. Nearly two-thirds of the world's cobalt comes from the DRC. According to the complaint, the companies "deliberately obscured" their dependence on child labor, including many children pressured into work by hunger and extreme poverty, to ensure their growing need for the metal would be met. The 16 plaintiffs included representatives of five children who were killed in cobalt mining operations. Circuit Judge Neomi Rao said the plaintiffs had legal standing to seek damages, but did not show the five companies had anything more than a buyer-seller relationship with suppliers. Terry Collingsworth, a lawyer for the plaintiffs ... said his clients may appeal further. The decision provides "a strong incentive to avoid any transparency with their suppliers, even as they promise the public they have 'zero tolerance' policies against child labor," he said. "We are far from finished seeking accountability."

Note: Unreported deaths of children, devastating diseases, toxic environments, and sexual assault are just some of the tragedies within the hidden world of cobalt mining in the DRC. Furthermore, entire communities have been forced to leave their homes to make way for new mining operations. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption from reliable major media sources.


Emotion-tracking AI on the job: Workers fear being watched – and misunderstood
2024-03-06, Yahoo News
Posted: 2024-03-18 19:33:53
https://finance.yahoo.com/news/emotion-tracking-ai-job-workers-133506859.html

Emotion artificial intelligence uses biological signals such as vocal tone, facial expressions and data from wearable devices as well as text and how people use their computers, promising to detect and predict how someone is feeling. Over 50% of large employers in the U.S. use emotion AI aiming to infer employees’ internal states, a practice that grew during the COVID-19 pandemic. For example, call centers monitor what their operators say and their tone of voice. We wondered what workers think about these technologies. My collaborators Shanley Corvite, Kat Roemmich, Tillie Ilana Rosenberg and I conducted a survey. 51% of participants expressed concerns about privacy, 36% noted the potential for incorrect inferences employers would accept at face value, and 33% expressed concern that emotion AI-generated inferences could be used to make unjust employment decisions. Despite emotion AI’s claimed goals to infer and improve workers’ well-being in the workplace, its use can lead to the opposite effect: well-being diminished due to a loss of privacy. On concerns that emotional surveillance could jeopardize their job, a participant with a diagnosed mental health condition said: “They could decide that I am no longer a good fit at work and fire me. Decide I’m not capable enough and not give a raise, or think I’m not working enough.” Participants ... said they were afraid of the dynamic they would have with employers if emotion AI were integrated into their workplace.

Note: The above article was written by Nazanin Andalibi at the University of Michigan. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and the disappearance of privacy from reliable major media sources.


COVID Cover-Up: Government ‘Forced’ COVID Vaccines to Protect Bioweapons Industry
2024-02-27, The Defender
Posted: 2024-03-11 23:13:51
https://childrenshealthdefense.org/defender/government-forced-covid-vaccines-...

Government officials covered up the origins of COVID-19 and “forced” the vaccination of millions of people worldwide to “protect the integrity of the bioweapons industry,” according to a senior research scientist [at] Yale University. Harvey Risch, M.D., Ph.D. ... provided compelling testimony on what he believes accounts for the “crushingly obsessive push to COVID-vaccinate every living person on the planet.” Risch was among the medical experts ... who participated in Monday’s Senate roundtable discussion on “Federal Health Agencies and the COVID Cartel: What Are They Hiding?” Risch highlighted circumstantial evidence that COVID-19 “leaked from the Wuhan Institute of Virology” (WIV) in China in fall 2019. There is evidence the virus contains a unique genetic sequence “that also exists in Moderna patents from 2017,” while intelligence has “overwhelmingly” indicated the WIV as the source of the virus. According to Risch, “This work and the WIV leak was what I consider to be the fruit of our bioweapons industry that has been performing secretive and nefarious biological weapons development for the last 70 years.” Risch said that much of this research was banned in 1975, with the enactment of the United Nations Biological Weapons Convention, which prohibited the development of offensive bioweapons. However, a carve-out in the treaty allows “small quantities of offensive bioweapons ... to be developed in order to do research on vaccine countermeasures.”

Note: For more along these lines, see concise summaries of deeply revealing news articles on COVID and government corruption from reliable major media sources.


Manufacturing Consent: The Border Fiasco and the “Smart Wall”
2024-02-19, Unlimited Hangout
Posted: 2024-03-04 13:40:58
https://unlimitedhangout.com/2024/02/investigative-reports/manufacturing-cons...

The disastrous situation at the US-Mexico border is, and has been, intentionally produced. Illegal crossings have risen to unprecedented levels. There is a bipartisan consensus about what must be done. Tellingly, the same “solution” is also being quietly rolled out at all American ports of entry that are not currently being “overrun”, such as airports. That solution, of course, is biometric surveillance, enabled by AI, facial recognition/biometrics and autonomous devices. This “solution” is not just being implemented throughout the United States as an alleged means of thwarting migrants, it is also being rapidly implemented throughout the world in apparent lockstep. Global policy agendas, ratified by nearly every country in the world ... seek both to restrict the extent of people’s freedom of movement and to surveil people’s movements ... through the global implementation of digital identity. The defense tech firm Anduril ... is one of the main beneficiaries of government contracts to build autonomous surveillance towers along the US-Mexico border, which are now also being rolled out along the US-Canada border. Anduril will create “a digital wall that is not a barrier so much as a web of all-seeing eyes, with intelligence to know what it sees.” While Anduril is one of the main companies building the “virtual wall,” they are not alone. General Dynamics, a defense firm deeply connected to organized crime, espionage scandals and corruption, has developed several hundred remote video surveillance systems (RVSS) towers for CBP while Google, another Big Tech firm with CIA connections, has been tapped by CBP to have its AI used in conjunction with Anduril’s towers, which also utilize Anduril’s own AI operating system known as Lattice.

Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption and the disappearance of privacy from reliable major media sources.


The AI firm that conducted ‘state surveillance’ of your social media posts
2023-06-03, The Telegraph (One of the UK's Leading Newspapers)
Posted: 2024-02-26 13:49:37
https://www.telegraph.co.uk/news/2023/06/03/logically-ai-firm-social-media-po...

An industrial estate in Yorkshire is an unlikely location for ... an artificial intelligence (AI) company used by the Government to monitor people’s posts on social media. Logically has been paid more than £1.2 million of taxpayers’ money to analyse what the Government terms “disinformation” – false information deliberately seeded online – and “misinformation”, which is false information that has been spread inadvertently. It does this by “ingesting” material from more than hundreds of thousands of media sources and “all public posts on major social media platforms”, using AI to identify those that are potentially problematic. It has a £1.2 million deal with the Department for Culture, Media and Sport (DCMS), as well as another worth up to £1.4 million with the Department of Health and Social Care to monitor threats to high-profile individuals within the vaccine service. It also has a “partnership” with Facebook, which appears to grant Logically’s fact-checkers huge influence over the content other people see. A joint press release issued in July 2021 suggests that Facebook will limit the reach of certain posts if Logically says they are untrue. “When Logically rates a piece of content as false, Facebook will significantly reduce its distribution so that fewer people see it, apply a warning label to let people know that the content has been rated false, and notify people who try to share it,” states the press release.

Note: Read more about how NewsGuard, a for-profit company, works closely with government agencies and major corporate advertisers to suppress dissenting views online. For more along these lines, see concise summaries of deeply revealing news articles on government corruption and media manipulation from reliable sources.


‘They lied’: plastics producers deceived public about recycling, report reveals
2024-02-15, The Guardian (One of the UK's Leading Newspapers)
Posted: 2024-02-26 13:45:31
https://www.theguardian.com/us-news/2024/feb/15/recycling-plastics-producers-...

Plastic producers have known for more than 30 years that recycling is not an economically or technically feasible plastic waste management solution. That has not stopped them from promoting it, according to a new report. “The companies lied,” said Richard Wiles, president of fossil-fuel accountability advocacy group the Center for Climate Integrity (CCI), which published the report. “It’s time to hold them accountable for the damage they’ve caused.” Plastic, which is made from oil and gas, is notoriously difficult to recycle. Doing so requires meticulous sorting, since most of the thousands of chemically distinct varieties of plastic cannot be recycled together. That renders an already pricey process even more expensive. Another challenge: the material degrades each time it is reused, meaning it can generally only be reused once or twice. The industry has known for decades about these existential challenges, but obscured that information in its marketing campaigns. The report does not allege that the companies broke specific laws. But Alyssa Johl, report co-author and attorney, said she suspects they violated public-nuisance, racketeering and consumer-fraud protections. The industry’s misconduct continues today. Over the past several years, industry lobbying groups have promoted so-called chemical recycling, which breaks plastic polymers down into tiny molecules. But the process creates pollution and is even more energy intensive than traditional plastic recycling.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption from reliable major media sources.


How is the World Health Organization funded, and why does it rely so much on Bill Gates?
2023-02-03, Yahoo News
Posted: 2024-02-26 13:32:44
https://uk.news.yahoo.com/world-health-organization-funded-why-143601256.html...

The Bill & Melinda Gates Foundation ... said last month it was “not right” for the charity to take on such a big role in funding the World Health Organization (WHO). Over the years, the billionaire philanthropists have become the WHO’s second biggest donor, making the health agency heavily dependent on their support to keep functioning. Global health experts say that while this money is welcome, it gives the Gates an outsized influence and underscores the chronic funding problem WHO faces even as it contends with more and more health crises. The Bill & Melinda Gates Foundation alone is responsible for over 88 per cent of the total amount donated by philanthropic foundations to the WHO. Other contributors include the Bloomberg Family Foundation (3.5 per cent), the Wellcome Trust (1.1 per cent) and the Rockefeller Foundation (0.8 per cent). In 2018-2019, the United States was the largest donor at $893 million, accounting for around 15 per cent of WHO’s budget. The Gates Foundation came only second, with $531 million. Most of these voluntary contributions are “specified” - meaning they are tied to a specific programme or health campaign in a specific part of the world and are given a detailed time frame during which to be spent. Polio eradication, for instance, has long been WHO’s best-funded program, mainly because much of the Gates Foundation’s contributions have been directed to that cause.

Note: For more along these lines, see concise summaries of deeply revealing news articles on health from reliable major media sources.


How Bill Gates and partners used their clout to control the global Covid response — with little oversight
2022-09-14, Politico
Posted: 2024-02-26 13:30:22
https://www.politico.com/news/2022/09/14/global-covid-pandemic-response-bill-...

When Covid-19 struck ... four organizations took on roles often played by governments — but without the accountability of governments. While nations were still debating the seriousness of the pandemic, the groups identified potential vaccine makers and targeted investments in the development of tests, treatments and shots. And they used their clout with the World Health Organization to help create an ambitious worldwide distribution plan. The largest and most powerful was the Bill & Melinda Gates Foundation, one of the largest philanthropies in the world. Then there was Gavi, the global vaccine organization that Gates helped to found to inoculate people in low-income nations, and the Wellcome Trust, a British research foundation with a multibillion dollar endowment that had worked with the Gates Foundation in previous years. Finally, there was the Coalition for Epidemic Preparedness Innovations, or CEPI, the international vaccine research and development group that Gates and Wellcome both helped to create in 2017. The organizations spent at least $8.3 million lobbying the U.S. and E.U., according to an analysis of lobbying disclosures. Now, critics are raising significant questions about the equity and effectiveness of the group’s response to the pandemic — and the serious limitations of outsourcing the pandemic response to unelected, privately-funded groups.

Note: For more along these lines, see concise summaries of deeply revealing news articles on COVID from reliable major media sources.


US court bans three weedkillers and finds EPA broke law in approval process
2024-02-07, The Guardian (One of the UK's Leading Newspapers)
Posted: 2024-02-19 21:42:21
https://www.theguardian.com/environment/2024/feb/07/us-weedkiller-ban-dicamba...

A US court this week banned three weedkillers widely used in American agriculture, finding that the Environmental Protection Agency (EPA) broke the law in allowing them to be on the market. The ruling is specific to three dicamba-based weedkillers manufactured by Bayer, BASF and Syngenta, which have been blamed for millions of acres of crop damage and harm to endangered species and natural areas across the midwest and south. Discovery documents turned up in the litigation showed the companies knew that their dicamba weedkillers would probably lead to off-target crop damage. This is the second time a federal court has banned these weedkillers since they were introduced for the 2017 growing season. In 2020, the ninth circuit court of appeals issued its own ban, but months later the Trump administration reapproved the weedkilling products. But a federal judge in Arizona ruled on Monday that the EPA made a crucial error in reapproving dicamba, finding the agency did not post it for public notice and comment as required by law. US district judge David Bury wrote ... that it was a “very serious” violation and that if EPA had done a full analysis, it probably would not have made the same decision. Bury wrote that the EPA did not allow many people who are deeply affected by the weedkiller – including specialty farmers, conservation groups and more – to comment. “The evidence has shown that dicamba cannot be used without causing massive and unprecedented harm to farms as well as endangering plants and pollinators,” said George Kimbrell [with] the Center for Food Safety, which litigated the case.

Note: For more along these lines, see concise summaries of deeply revealing news articles on health and government corruption from reliable major media sources.


Down With the Corporate Price-Gougers Ripping Us Off!
2024-02-02, Common Dreams
Posted: 2024-02-19 21:35:53
https://www.commondreams.org/opinion/corporate-greed-inflation-price-gouging

Our new report for the Groundwork Collaborative finds that corporate profits accounted for more than half — 53 percent — of inflation from April to September 2023. That’s an astronomical percentage. Corporate profits drove just 11 percent of price growth in the four decades prior to the pandemic. Businesses have been quick to blame rising costs on supply chain shocks from the pandemic and the war in Ukraine. But two years later, our economy has mostly returned to normal. In some cases, companies’ costs to make things and stock shelves have actually decreased. A recent survey from the Richmond Fed and Duke University revealed that 60 percent of companies plan to hike prices this year by more than they did before the pandemic, even though their costs have moderated. Corporations across industries, from housing to groceries and used cars, are juicing their profit margins even as the cost of doing business goes down. Since the summer of 2021, Groundwork began listening in on hundreds of corporate earnings calls where we heard CEO after CEO boasting about their ability to raise prices on consumers. Now we hear something slightly different: CEOs crowing about keeping their prices high while their costs go down. PepsiCo raised its prices on snacks and beverages by roughly 15 percent twice in the last year while bragging to shareholders that their profit margins will grow as input costs come down.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption from reliable major media sources.


How Wealthy Corporations Use Investment Agreements to Extract Millions From Developing Countries
2024-01-25, ScheerPost
Posted: 2024-02-19 21:33:27
https://scheerpost.com/2024/01/25/how-wealthy-corporations-use-investment-agr...

When Rafael Correa entered Ecuador’s presidency in 2007, the nation faced an opportunity and a challenge. Ecuador’s economy depended on oil, and global crude prices were near a record high. Much of the oil was extracted by foreign companies ... as prices surged more wealth began flowing overseas. Soon after taking office, Correa increased a recently enacted windfall tax on oil companies. The idea was to use the tax as leverage to extract better terms from the companies. Within months, two oil companies working as partners—the independent Anglo-French firm Perenco and Burlington Resources, a subsidiary of ConocoPhillips—ceased paying the tax and sued the government through a system of international tribunals known as investor state dispute settlements, or ISDS. The system allows foreign investors to sue governments before tribunals outside the jurisdiction of national courts. Perenco and Burlington [convinced] arbitrators in two separate tribunals to award the companies more than $800 million. Critics say the ISDS system gives corporations an exclusive, parallel justice system that elevates foreign interests above human rights and environmental concerns. The vast majority of cases have been brought by companies based in North America or Europe against governments in Latin America, Africa and Asia, prompting many critics to liken the ISDS system to a form of market-based colonialism that continues to extract wealth from the Global South.

Note: According to the analysis in the article, fossil fuel companies and investors filed one in five of 1,720 claims since the 1970s, and "have been awarded at least $82.8 billion in compensation from governments." For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and income inequality from reliable major media sources.


EWG finds little-known toxic chemical in four out of five people tested
2024-02-15, Environmental Working Group
Posted: 2024-02-19 21:27:22
https://www.ewg.org/news-insights/news/2024/02/ewg-finds-little-known-toxic-c...

A new EWG peer-reviewed study has found chlormequat, a little-known pesticide, in four out of five, or 80 percent, of people tested. The groundbreaking analysis of chlormequat in the bodies of people in the U.S. rings alarm bells, because the chemical is linked to reproductive and developmental problems in animal studies, suggesting the potential for similar harm to humans. EWG’s research, published February 15 in the Journal of Exposure Science and Environmental Epidemiology, tested for the presence of chlormequat in urine collected from 96 people between 2017 and 2023. The chemical was found in the urine of 77 of them. We detected the chemical in 92 percent of oat-based foods purchased in May 2023, including Quaker Oats and Cheerios. The fact that so many people are exposed raises concerns about its potential impact on public health, since animal studies link chlormequat to reduced fertility, harm to the reproductive system and altered fetal growth. Environmental Protection Agency regulations allow the chemical to be used on ornamental plants only – not food crops – grown in the U.S. But its use is permitted on imported oats and other foods sold here. Many oats and oat products consumed in the U.S. come from Canada. Chlormequat was not allowed on oats sold in the U.S. before 2018, when the Trump EPA gave first-time approval for some amount of the chemical on imported oats. The same administration in 2020 increased the allowable level.

Note: For more along these lines, see concise summaries of deeply revealing news articles on health and food system corruption from reliable major media sources.


Bodycam Maker Axon Is on a Mission to Surveil America with AI
2024-02-01, Vice
Posted: 2024-02-12 19:35:15
https://www.vice.com/en/article/m7bwp4/axon-acquires-fusus-ai-surveillance-re...

Axon, maker of Tasers and police body cameras, has acquired a surveillance company that allows police to tap into camera networks in schools, retail stores, and other locations in cities and towns across America and apply AI technology to the footage. Axon acquired Fusus for an undisclosed sum. Fusus operates what it calls “real time crime centers (RTCC)” which allow police and other public agencies to analyze a wide array of video sources at a single point and apply AI that detects objects and people. These centers are reminiscent of the Department of Homeland Security’s Fusion Centers—where intelligence from a diverse number of sources is collected and shared among agencies—and have already expanded to over 250 cities and counties. Last week, Axon announced a new line of cameras called Axon Body Workforce designed to be worn by workers in retail and in healthcare. Despite pushing the cameras as deterrents, data shows no evidence that they’ve been effective in reducing police violence or increasing transparency. The rise of Fusus is concerning to rights groups like the Electronic Frontier Foundation, which has raised alarm over the expansion of law enforcement’s ability to easily surveil Americans. Notably, the concept behind Fusus’ solution is similar to technology that has been deployed in South Africa for years, and which experts have said exacerbates inequality in the country.

Note: Axon has ties to paid experts who are used to exonerate police after deaths in custody. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and the disappearance of privacy from reliable major media sources.


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