Alibaba Singles’ Day tops $30 billion but growth rate plunges

A screen shows the value of goods being transacted at Alibaba Group's 11.11 Singles' Day global shopping festival in Shanghai, China, November 11, 2018. REUTERS/Aly Song

SHANGHAI (Reuters) – Chinese e-commerce giant Alibaba Group Holding Ltd cashed a record 213.5 billion yuan ($30.70 billion) in sales on Sunday during its 24-hour online retail frenzy Singles’ Day, but the event’s annual growth dropped to its slowest-ever rate. Shoppers in China and across the world snapped up hot items including iPhones, furniture and […]

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