Latest news with #SudipKar-Gupta
Business of Fashion
26-05-2025
- Business
- Business of Fashion
EU Warns Shein of Fines in Consumer Protection Probe
The European Union on Monday urged fast-fashion retailer Shein to respect EU consumer protection laws and warned it could face fines if it failed to address the EU's concerns. Shein has grown rapidly by shipping inexpensive products directly to consumers. In February, the European Commission warned Shein and Temu, another Chinese online e-commerce platform, that they would be liable for the sale of unsafe and dangerous products sold on their sites. Representatives for Shein did not immediately respond to a request from Reuters for comment. The Consumer Protection Co-operation (CPC) network of national consumer authorities and the European Commission had now notified Shein of practices which infringed EU consumer law, the Commission said in a statement. 'Shein now has one month to reply to the CPC Network's findings and propose commitments on how they will address the identified consumer law issues. Depending on Shein's reply, the CPC Network may enter a dialogue with the company,' it said. 'If Shein fails to address the concerns raised by the CPC Network, national authorities can take enforcement measures to ensure compliance. This includes the possibility to impose fines based on Shein's annual turnover in the EU Member States concerned,' the statement added. Shein could also be the target of EU regulatory demands under the EU's Digital Services Act. In a further blow to Shein, the EU has proposed a 2 euro handling fee per package for low-value e-commerce shipments. By Foo Yun Chee, Sudip Kar-Gupta; Editors: Philip Blenkinsop, David Evans Learn more: EU Plans €2 Fee for Low-Value Parcels in Setback for Shein and Temu The European Union is considering a handling fee for low-value e-commerce packages, primarily from platforms like Shein and Temu, to address a surge in volume and ensure compliance with EU regulations.
The Star
24-05-2025
- Entertainment
- The Star
Police probe possible arson attack as Cannes and parts of southern France suffer power cut
A hairdresser works on a client's haircut in the street due to not enough light in her hair salon, following a major electricity outage, during the 78th Cannes Film Festival in Cannes, France May 24, 2025. REUTERS/Stephane Mahe CANNES, France (Reuters) - French police were investigating a possible arson attack as being the main cause for a power outage which hit the Alpes-Maritimes region in southern France on Saturday, including Cannes which is hosting its world-famous annual film festival. "We are looking into the likelihood of a fire being started deliberately," said a spokesperson for the French national gendarmerie, adding that no arrests had been made at this stage. The local authority for the Alpes-Maritimes region had said earlier on Saturday that the western part of the area, which includes Cannes, was suffering from a major electricity outage and that RTE France was working on restoring power. The Cannes Film Festival said the closing ceremony would take place as planned on Saturday evening. "The Palais des Festivals has switched to an independent power supply, allowing all scheduled events and screenings, including the Closing Ceremony, to proceed as planned and under normal conditions," it said in a statement. (Reporting by Sudip Kar-Gupta, Michaela Cabrera and Miranda Murray; Editing by Tomasz Janowski and David Evans)
Yahoo
23-05-2025
- Business
- Yahoo
EU's Costa to travel to Brazil to strengthen investment ties
By Sudip Kar-Gupta BRUSSELS (Reuters) - Antonio Costa, head of the European Council that represents the 27 EU countries, will travel to Brazil from May 27-May 29 to strengthen partnerships and investment ties between the European Union and Brazil. The European Council said on Friday that Costa would meet Brazilian President Luiz Inacio Lula da Silva during his trip and make a speech at an EU-Brazil investment forum. The EU is Brazil's second-largest trading partner and Brazil's largest foreign investor, with more than 300 billion euros ($340.7 billion) worth of direct investment stocks. "Brazil is not just a close friend, it is a strategic partner for the EU – a global player and a key ally in promoting democracy, multilateralism and shaping a more just and sustainable world," Costa said in a statement. "In times when these values are challenged globally, it is even more crucial that countries like Brazil and the European Union stand together to uphold them," he added. Costa's trip to Brazil also comes as the EU aims to ratify a long-delayed trade deal between the South American bloc Mercosur and the EU, which mainly covers farming matters. ($1 = 0.8807 euros)
Yahoo
22-05-2025
- Business
- Yahoo
France's private sector contracts for ninth month in May, PMI shows
By Sudip Kar-Gupta PARIS (Reuters) -France's private sector continued to contract in May, marking the ninth consecutive month of decline, as weakness in the services sector weighed on the euro zone's second-biggest economy, according to S&P Global's HCOB Flash France PMI survey. The flash PMI for France's dominant services sector stood at 47.4 points in May from 47.3 in April, marking the ninth month in a row in which it has been below the 50 points level signalling a contraction in activity. Any figure below 50 points shows a contraction while above 50 shows an expansion. A Reuters poll had forecast 47.5 points for the May flash services figure. The flash PMI for the manufacturing sector in May rose to 49.5 points, up from 48.7 in April and ahead of a Reuters poll which had forecast 48.9 points. The flash composite PMI - which comprises both the manufacturing and services sectors - for May stood at 48.0 points, exactly in line with a Reuters poll forecast and up from 47.8 in April. However, that composite PMI figure also marked the ninth consecutive month in which it had been below the 50 points level and therefore in contraction territory. "France's private sector remained subdued in May. The Flash Composite PMI continues to signal contraction, reflecting the economic challenges France is facing amid domestic political instability and a fragile macroeconomic environment," said Hamburg Commercial Bank junior economist Jonas Feldhusen. "Despite improvements in manufacturing and President Macron's recent efforts to position France as an attractive destination for investment, research and development, the overall outlook for the private sector remains bleak, as seen by the business outlook falling sharply in May, especially in the service sector," he added.
The Star
21-05-2025
- The Star
Two people die as migrants try to cross English Channel
PARIS (Reuters) -Two people have died after a boat carrying migrants trying to cross the English Channel got into difficulties near Calais, said the French regional authority on Wednesday. The boat, which was carrying around 80 migrants, had attempted to make the crossing over the course of Tuesday night and Wednesday morning. (Reporting by Sudip Kar-Gupta; Editing by Alex Richardson)
