EU regulators have fined the Chinese shopping website Temu €200m (£173m) for failing to stop the sale of illegal and dangerous products. The European Commission imposed the penalty after a 19-month investigation that found consumers were very likely to encounter illegal or unsafe products including baby toys and electronics on the firm’s website. An unpublished mystery shopping exercise carried out for the commission found a “high percentage” of unsafe baby products and a “very high percentage” of dangerous chargers for sale on the platform, as well as unsafe clothes and…
Tag: Money
UK drivers struggle to get insurance for Chinese EVs such as Jaecoo
UK insurers are more hesitant to cover some hybrid and electric vehicles (EVs) from China than cars from other countries, research suggests. While some drivers can save money by buying cars made in China, they may have more limited options to get insurance than those buying electric, hybrid and petrol cars from Europe, the US and South Korea. And when policies are available, they can sometimes cost almost twice as much as those for similar petrol vehicles from outside China. Chinese brands such as BYD, XPeng and Jaecoo have become…
Chinese court awards compensation to sacked worker replaced by AI
A court in China has ruled in favour of a worker whose company replaced him with artificial intelligence (AI), awarding him more than £28,000 in compensation. The worker, whose surname is Zhou, joined a tech company in the eastern city of Hangzhou in 2022 as a quality assurance supervisor overseeing large language models used in AI products. The company, which has not been named publicly, later said AI could do his job and offered him a demotion and a 40% pay cut. When he refused, the company fired him. Zhou…
Private jets, deserted shores and an unbuilt resort: alleged links to sanctioned ‘scam’ empire revealed in Timor-Leste
Guests were enticed with the promise of luxury villas overlooking aquamarine seas; a world-first crypto resort where the tech elite could commune over the latest digital innovation in opulent surrounds. The promotional material from June last year pitched a sprawling, futuristic development that would hug the coastline of Timor-Leste, one of the world’s poorest countries, and donate a percentage of profits to philanthropy. But in February, when a joint investigative team visited the proposed site of the AB Digital Technology Resort – separated from Dili airport by a barbed-wire fence…
The Guardian view on Europe’s payments problem: sovereignty starts at the till | Editorial
When the centre-left French politician Aurore Lalucq posted a warning last Wednesday that Donald Trump could cut off Europe from international payment systems, the clip went viral. To many, her message made sense. After all, if Mr Trump was prepared to test allies’ boundaries over Greenland, it is not far-fetched to imagine Visa and Mastercard becoming used against a recalcitrant Europe. The US can turn off payment systems it controls. Russia learned this first-hand after sanctions were rightly applied for its invasion of Ukraine. As up to 60% of Russian…
The Beijing courier who went viral: how Hu Anyan wrote about delivering parcels – and became a bestseller
Hu Anyan is not a fan of online shopping, but, as he discovered during the months he spent as a courier in Beijing, plenty of people are. Not long into the job, he was assigned to delivering parcels to a large construction site. He didn’t have to deliver that many – 10 to 20, most days – but getting them to their rightful owners wasn’t always easy. There was a crane driver who was often in the air when Hu arrived. He would ask him to come again the next day,…
Tories would abolish stamp duty, Badenoch tells party conference – UK politics live
From 2h ago Badenoch says next Tory government will abolish stamp duty Badenoch says, because of all the savings she has promised, she can afford one more announcement. As the Conservative party, we know who our people are. They are people who work hard, they are the people who plauy hard, they are the people who understand the importance of putting down roots. They are the people who make sacrifices today for a better life. They are also people who want to own their own home, she says. But there…
A China-led global system alongside that of the US is Xi Jinping’s ultimate aim | Letters
For over a decade, China has been building an alternative to the US-led order, notes Andrew J Sinclair I enjoyed reading George Magnus’s article (Why Peak China may finally have arrived, 11 August). However, focusing on peak economic growth misses the bigger picture and underestimates China in ways that could weaken western policy responses. China’s central goal is national power, and we are far from its peak national power. The Chinese economic miracle has taken place under the US-led global system. China built factories along its coast, filled container ships,…
The $10,000 job search: why people are paying a small fortune to find work
In the US, it takes an average of 24 weeks to secure new employment. Enter a legion of expensive career strategists, networking sites and AI interview training … Name: The $10,000 job search. Age: Depressingly modern. Continue reading… The Guardian
The ‘rat person’ trend is here – and I thoroughly approve | Arwa Mahdawi
Somewhere in Zhejiang province, China, a woman is living my dream. She gets up in the morning and then, almost immediately, goes back to bed. She lies prostrate all day long, scrolling, eating some food, opening some packages, showering at 2am, then snoozing again. As a longtime sleep enthusiast – and the mother of a child who thinks that 5am is a good time to start the day, all systems go – I think this sounds like bliss. The woman in Zhejiang is known as @jiawensishi – and also “rat…