-
Alex Bodi appointed Vice President of SCANDIC FINANCE GROUP
-
Alex Bodi, numit vicepreședinte al grupului SCANDIC FINANCE
-
Elon Musk jokes about moving businesses to space after US midterms
-
West Mercia Police opens 2027 cadet applications to Worcestershire teenagers
-
NHS to test blood screening designed to detect 13 cancers earlier
-
Worcestershire road closures announced for Remembrance Sunday events
-
Democrats near House takeover as voters judge Trump presidency
-
UBC professor describes police call after Galloway remark as act of care
-
Lethbridge submits interest in provincial ground ambulance contract
-
False voting claims spread rapidly during US Election Day
-
The Cat in the Hat expands its stakes to cosmic scale in animated reboot
-
Democrats Retake Congress, Ending Trump’s Legislative Majority
-
Lettermen co-founder Tony Butala dies at 87
-
Byron Donalds wins Florida governor race and underscores Republican strength
-
James Talarico defeats Ken Paxton in historic Texas Senate result
-
Commentator predicts possible US strike on Iran as regional tensions rise
-
Goa plans relationship-readiness course amid concern over divorces
-
Manchester United climbs standings after 3-2 Champions League win over Roma
-
Carmen de Burgos: The Life and Legacy of Spain's Pioneer for Women's Rights
-
India introduces four-layer motor insurance choice from December 15
-
Mutual fund returns show shifting leaders across market-cap categories
-
BHEL wins Adani Power projects valued at up to ₹28,000 crore
-
IndiGo holds talks with Embraer over potential order for 100 aircraft
-
India seeks threefold increase in coal stocks to prevent summer power shortages
-
Indian companies report mixed second-quarter results on November 4
-
Adobe PDF Spaces Introduces Shared AI Conversations for Document Collaboration
-
Indus Towers expands solar-powered network to 50,000 telecom sites
-
KKR secures Indian regulator approval for Gentari Renewables investment
-
Equitas Small Finance Bank rebounds after naming interim chief executive
-
Bharti Airtel revenue expected to grow at double-digit pace in second quarter
-
Titan quarterly profit seen rising as jewellery business drives growth
-
Italy Claims Curling Silver at European Championships in Ostrava
-
Indian crude-sensitive shares gain after 13% oil-price decline
-
Kuwait finance minister holds economic cooperation talks at COMCEC
-
Stocks and dollar fall as Democratic election gains reshape markets
-
Abdul El-Sayed declares victory in Michigan Senate contest
-
Kuwait marks key events and anniversaries from national history
-
Democrats capture US Congress in sweeping midterm victory
-
Trump congratulates Democrats and signals willingness to cooperate
-
Manchester United rallies past Roma as PSG dominates in Champions League
-
Qatar prime minister advances mediation through diplomatic calls
-
Qatar sees tentative opening for renewed regional diplomacy
-
Greenland parliament approves security agreement with United States
EU fines AliExpress 550 mn euros over illegal products
The EU on Monday slapped a 550-million-euro ($630 million) fine on online retailer AliExpress for allowing the sale of illegal products, including unsafe toys and cosmetics.
The European Union said AliExpress also did not do enough to stop the sale of counterfeit products and that when the platform detected illegal goods were on sale, many remained online for several weeks.
The EU found some of the products sold on the platform did not meet the bloc's strict environmental and safety standards during its investigation into AliExpress launched in March 2024.
"Risks must be identified and addressed systematically to ensure consumers can safely shop online. Today, we are holding AliExpress to this standard and request it to take action," EU tech chief Henna Virkkunen said in a statement.
It is the largest fine ever imposed under the EU's powerful Digital Services Act (DSA), part of the bloc's armoury to police big tech that entered into force in 2022.
Elon Musk's X social media platform received a 120-million-euro fine in December last year, while the EU slapped e-commerce giant Temu with a 200-million-euro fine in May.
The EU said the fine's amount took into consideration the nature of the violations, the impact on Europeans and the duration of the infringements.
AliExpress is the biggest Chinese e-commerce platform in the EU with 193 million users, while Asian fashion giant Shein and retailer Temu respectively have 156 million and 130 million users.
The EU is AliExpress' biggest market, a senior European official said.
Under the DSA, the world's most popular digital platforms including social media networks and online retailers must evaluate what risks they pose and take measures to tackle the dangers.
- Illegal products reappearing -
The EU said AliExpress' "overestimated the effectiveness of its system in detecting and removing illegal products".
Millions of products would also reappear, the EU official said. And many illegal products would be recommended to users before they were removed.
Those selling illegal goods were still able to remain active on AliExpress.
The platform also did not "adequately" stop the sale of counterfeit products because its mandatory "brand authorisation" system "proved ineffective and understaffed. Therefore, traders easily bypassed this", the EU found.
The DSA is part of a strengthened legal weaponry to rein in what the EU views as Big Tech's excesses, and fines can go as high as six percent of a company's total worldwide annual turnover.
The EU official said the global turnover of Alibaba, AliExpress' parent company, was 122 billion euros last year, but the fine was well below six percent of that.
AliExpress has to now pay the fine and present a plan to the EU by October 20 that includes what action it will take to tackle the breaches.
If it does not comply, AliExpress risks periodic penalty payments.
Virkkunen told reporters AliExpress was "cooperating very actively" with the European Commission, the EU's digital watchdog.
The EU has stepped up its efforts in recent years to combat what it says is unfair competition from Chinese retailers, including slapping a levy of three euros this month on cheap parcels entering the 27-nation bloc.
But Virkkunen insisted the EU did not target platforms based on their origin.
"We are investigating several online platforms. So a big part of them are from the USA, many of them are from China and also from Europe," she said.
K.Thomson--BTB