Chinese online retailer targeted under rules limiting state help to companies

• Business live – latest updates

Temu’s European headquarters in Dublin have been raided by EU regulators investigating a potential breach of foreign subsidy regulations.

The Chinese online retailer, which is already in the European Commission’s spotlight over alleged failures to prevent illegal content being sold on its app and website, was raided last week without warning or any subsequent publicity.

Iceland joins Spain, Slovenia, the Netherlands and Ireland in neither participating in nor broadcasting event

Iceland has become the fifth country to boycott next year’s Eurovision song contest after Israel was given the go-ahead to compete, deepening the crisis facing the competition.

The board of the national broadcaster, RÚV, voted on Wednesday not to participate, meaning Iceland will join Spain, Slovenia, the Netherlands and Ireland in neither participating in nor broadcasting the event, which is scheduled to take place in Vienna.