Canada Corporate Ethics Watchdog Launches Investigations Into Allegations Of Uyghur Forced Labor In Supply Chains, Operations Of Nike Canada And Dynasty Gold
Portfolio Pulse from Benzinga Newsdesk
Canada's corporate ethics watchdog has initiated investigations into allegations of Uyghur forced labor in the supply chains and operations of Nike Canada and Dynasty Gold. The news was reported by Reuters citing a statement.
July 11, 2023 | 5:44 pm
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NEGATIVE IMPACT
The iShares MSCI Canada ETF (EWC) could be indirectly affected by the investigation into Nike Canada and Dynasty Gold for alleged Uyghur forced labor in their supply chains and operations.
While EWC is not directly involved, the investigation into these companies could potentially impact the Canadian market and, by extension, the performance of the ETF. This could lead to a short-term decrease in EWC's price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Nike, a US-listed company, is under investigation by Canada's corporate ethics watchdog for alleged Uyghur forced labor in its supply chains and operations.
The investigation into Nike's alleged use of Uyghur forced labor could potentially harm the company's reputation, leading to a decrease in consumer trust and sales, which could negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100