Tag: Alibaba Group Holding Ltd

Alibaba Slashes Sales Outlook as Competition Bites, Demand Slows

November 19, 2021
Alibaba Group Holding LtdBusiness & EconomyChinaChina Business & Economychinese e-commerceCompaniesCOVID-19stock market
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Chinese e-commerce giant Alibaba Group Holding Ltd. slashed its forecast for annual revenue growth on increased competition and a regulatory clampdown, sending its stock tumbling 11 percent. Alibaba now expects revenue for the year ending in March to rise between 20 and 23 percent, the slowest pace since its 2014 stock market debut and down…

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China’s Tech Crackdown Is Affecting Its Biggest Shopping Extravaganza

November 10, 2021
Alibaba Group Holding LtdBusiness & EconomyChinaChina Business & EconomyEconomiesMarket WatchMarkets
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China’s yearlong crackdown on the tech industry has turned Alibaba Group Holding Ltd.’s (NYSE: BABA) global shopping extravaganza Singles’ Day into a more low-key affair, Bloomberg reports. Alibaba now seeks to shift focus from increasing sales towards sustainability and philanthropy, the key pillars of Chinese leader Xi Jinping’s drive to reshape China’s economy. What Happened…

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