-
Kung wins Vuelta time-trial as Mas retains lead
-
AI Risks to Enter 60–80% of Liability and Cyber Insurance Underwriting by 2028, ScienceSoft Predicts
-
DR Congo school fire leaves at least 14 children dead
-
Ultimate Championship as big as Olympics - and more lucrative, says Bolt
-
USA and France ease into women's Basketball World Cup semis
-
Diana's 'revenge dress' to go up for auction in New York
-
ECB lifts borrowing costs amid energy shock, opens door for more hikes
-
England dominate Pakistan, close in on Test series sweep
-
France defeat China to reach women's basketball World Cup semis
-
Russia trafficking foreigners to fight in Ukraine, Amnesty says
-
Tribal Launches Campfire, Letting Business and Technical Teams Build on Salesforce Together
-
Global Tokenized Real Estate Market to Hit up to $3 Trillion by 2030, ScienceSoft Predicts
-
Yemen's Houthis seize key city on Red Sea
-
Stocks fall as fresh oil surge fans inflation fears
-
US producer inflation tops expectations as diesel costs jump
-
August hottest month ever recorded globally as huge El Nino emerges
-
Rubio ends South America swing with Peru security talks
-
'Bragging rights' up for grabs at game-changing Ultimate Championship, says Coe
-
Defiant Iran seeks to bruise Trump ahead of midterms
-
ECB hikes borrowing costs to combat Mideast energy shock
-
France withdraws support for Infantino in FIFA presidential election
-
England turn screw in 3rd Test against Pakistan
-
Evolution Metals & Technologies Provides Initial Revenue Guidance of $400-460mm for Fiscal Year 2027
-
France will not support Infantino in FIFA election: federation chief
-
Clark-led USA thrash Hungary to move into women's World Cup semi-finals
-
In their words: Israeli forces describe AI-backed Gaza killing in new film
-
Vance takes spotlight as Republicans close Trump-heavy convention
-
Yemen's Houthis seize key city on Red Sea: military source
-
Russian skater Valieva loses neutral status
-
Oil prices extend gains as markets await ECB rate outlook
-
Will Israel's right exploit sanctions in run-up to vote?
-
Wars pose a test as India hosts BRICS summit with China, Russia, Iran leaders
-
'Metal Gear' creator moves to Xbox after Playstation cancellation
-
Messi to buy second Spanish lower league club
-
Indonesia rescues six orangutans from fires in a week
-
Pochettino calls for Chelsea to lose 2016-17 Premier League title
-
Macron urges Europe to develop 'crewed spaceflight' programme
-
North Korea leader's daughter believed to have younger sibling: Seoul
-
Deals worth billions to be signed as UAE leader visits Germany
-
Wars pose a test as India hosts BRICS summit with Russia, Iran leaders
-
Zamanat Targets GCC’s $250 Billion SME Financing Gap With Up to $100 Million Tokenized Private Credit Fund
-
Alessio Vinassa Unveils an Emerging Technology Investment Approach Shaped by Financial Challenges
-
Sri Lanka court revokes monk's pardon, orders return to prison
-
Stocks drop as oil spike fans inflation and interest rate fears
-
'Hopeless, stuck, afraid': US deportees in limbo in Cameroon
-
Portugal harvests grapes at night to beat the heat
-
Mount Fuji ends hiking season with landslide, two rescues
-
Philippine ferry fire kills 5, dozens missing
-
Seahawks beat Patriots again in NFL opener
-
Oil prices flare as Iran tightens grip on Hormuz
EU fines Temu 200 mn euros over illegal products
The EU slapped a 200-million-euro ($232 million) fine on Chinese-owned online retailer Temu on Thursday for allowing the sale of illegal products, including dangerous baby toys and defective chargers.
"The company failed to diligently identify, analyse, and assess the systemic risks of illegal products being offered on its platform and the resulting harm to consumers in the European Union," the EU said.
According to EU regulators, European consumers are "very likely to encounter illegal items" on Temu, and the company "seriously underestimated how often EU consumers are likely to" see such products.
Temu is extremely popular in the European Union, with 130 million users after entering the bloc's market in 2023.
But it has come under fierce scrutiny since October 2024 when the EU opened its investigation, which preliminarily found in July last year that Temu had breached landmark rules over the risks of illegal products.
"Temu is a very big player in the European market," EU tech commissioner Henna Virkkunen told reporters, adding that its size meant that a "very big part" of EU consumers get their hands on such illegal products.
Thursday's fine is only the second imposed under the EU's powerful Digital Services Act (DSA) on content, after Elon Musk's X platform received a 120-million-euro fine in December.
Under the DSA, the world's most popular digital platforms including social media apps and online retailers must conduct a risk assessment to understand what dangers they pose and how to tackle the risks.
The EU slammed Temu for its 2024 risk assessment that it said "falls short of the standards", citing the discovery of baby toys, such as rattles, containing chemicals that exceeded legal safety limits, and chargers that failed basic safety tests. It also pointed to jewellery.
The European Commission said Temu failed to properly assess the platform's design and how it "could amplify dissemination risks of illegal products".
- EU focus on China -
The DSA is part of the EU's bolstered legal armoury to curb what the bloc considers excesses by Big Tech, and fines can go as high as six percent of a company's total worldwide annual turnover.
Temu's revenues were $61.7 billion last year.
While the EU could have hit Temu with a higher fine, a European Commission official said the amount was proportionate to the breach since it concerned a risk assessment for one year where the conclusions were "clear-cut".
Temu must now pay the fine and present a plan to the EU by August 28 that includes what action it will take to address the breaches.
If Temu does not comply, it faces periodic penalty payments.
It can also appeal the fine, as Musk has already done in the EU courts.
The EU continues to investigate other suspected breaches in the same probe including the use of addictive design features that could hurt users' physical and mental well-being, and how Temu's systems recommend content and products.
The fine comes a day before the EU executive is set to debate how the 27-nation bloc should approach China to level the playing field, with top EU officials warning that Europe must get tougher on China to defend its economy.
Brussels has already stepped up its anti-subsidy investigations into Chinese companies investing in Europe, and on Thursday it opened an in-depth probe into Chinese e-commerce giant JD.com's bid for Ceconomy, a major German electronics retail group, on suspicion it was boosted by state subsidies.
O.Salim--SF-PST