Oil at risk of 60% price hike if key Iranian shipping lanes are effected

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• Why the Strait of Hormuz is being called the world's most dangerous oil choke point
• How Iran's military tactics could paralyse global shipping and energy flows
• Which Asian nations are most exposed to supply chain chaos if oil exports grind to a halt

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Irish Independent

2 days ago

• Irish Independent

EU ramps up its efforts to stop Chinese online firms selling illegal goods

The EU's executive arm yesterday unveiled a list of grievances against China-owned AliExpress, which has been under investigation since March 2024 under the Digital Services Act – the EU's content moderation rulebook. In a statement, the European Commission said that AliExpress doesn't adequately moderate the goods sold on its website and fails to 'appropriately enforce' its penalty policy against sellers who repeatedly post illegal content. Platforms with more than 45 million EU users can face fines of 6pc of global yearly sales The commission's preliminary findings now put the platform at risk of a fine. An AliExpress spokesperson said the company is continuing to work closely with the commission and is committed to respecting EU rules. They said they were 'confident that a positive and compliant result will be achieved'. The commission also said AliExpress has committed to changes to systems for detecting and flagging illegal products – such as medicines and food supplements – tracing sellers and making its data more transparent. Alibaba is looking for new areas for growth after its core businesses has fallen victim to ongoing US-China tensions. Company chair Joe Tsai said last month that Asian companies can look for opportunities in Asia or Europe for expansion. Under the Digital Services Act, online platforms with more than 45 million EU users can face fines of 6pc of their global yearly sales for failing to stamp out illicit products or harmful content. Besides AliExpress, other major online platforms – including X, Meta, Temu, TikTok and several pornography platforms – are currently being investigated under the sweeping regulation.

Business Post

3 days ago

• Business Post

‘A lot more to come': EU financial services chief promises market boost

Business Post subscribers can read: • Why the EU's first move in capital markets reform focuses on securitisation — and what it means for Irish lenders • Why Maria Luís Albuquerque believes in the rule changes • What's next for European savers

The Irish Sun

3 days ago

• The Irish Sun

‘Waiting so long for this', scream fans as popular restaurant reopens after closures and foodies sigh ‘you were missed'

FOODIE fans are in luck as a popular restaurant is opening its doors once again to the public just in time for summer. The much-loved Asian eatery Wagamama is making a sizzling return to 4 The much-loved Asian style restaurant is set to be back in Dublin this summer Credit: Getty Images - Getty 4 With famous dishes like their signature Katsu chicken curry on the menu Credit: 4 Enjoy their ramen once again as they aim to open their doors to customers on June 23 Credit: Irish Wagamama fans were left heartbroken after the restaurant chain shut in September 2024. More than 106 employees lost their jobs after the decision to cease trading immediately came to light. restructuring its franchise agreement in Ireland. But lovers of the restaurant will be happy to know that they are back in business this summer. READ MORE ON MONEY Their big reopening is set to take place on June 23 in Liffey Valley. With their infamous Dundrum location set to return in mid-August. In a post to their Instagram, they let fans know of their anticipated arrival with the caption: "Guess who's back?". Many of their followers couldn't contain their excitement as they flooded the post with comments. Most read in Money One fan exclaimed: "I cannot wait. I have been watching since the signs went up!!" Another echoed "Can't wait!" and that they were "super excited". Why McDonald's Cancelled Its New Drive-Thru Plans in Scottish Town (1) Patience paid off for all the Asian-style food lovers as many expressed their relief for the return of the restaurant chain to Ireland. Another happy foodie said: "Thank god!!! You were missed." Ruffy Magat, general manager for Wagamama "Whether it's your first taste or your fiftieth bowl, everyone's welcome back at our benches.' Liffey Valley Shopping Centre Director Denis O'Connell added: 'We are thrilled to welcome wagamama to Liffey Valley Shopping Centre. "The addition of wagamama to the retailer line up is further evidence of our constant drive to enhance the Liffey Valley customer experience." And better yet the popular food chain is giving fans a chance to view their new menu for free. All you have to do is sign up through the for one of the exclusive tasting events. Where you get to enjoy one of the 1,000 free meals but you need to be quick to get your ramen fix, as slots are booking quick! The return of Wagamama to Dublin is part of ambitious plans to open further restaurants in the coming months, bringing fresh, flavour-packed dishes to even more locations in Ireland. 4 And the popular Dundrum location is set to return in mid August Credit: Getty Images - Getty