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NEW YORK: Wall Street bounced back on Monday as bargain hunters returned in force after last week's sell-off and expectations of a flurry of holiday cyber-spending drove up shares of retailers.
BEIJING: China reported a mixed bag of economic data for October on Wednesday, but industrial output and investment grew faster than expected, suggesting a flurry of support measures may be starting to take hold.
SHANGHAI: Online shoppers spent more than US$14bil within the first two hours of China’s annual buying frenzy on Sunday, once again breaking records as the consumer tradition enters its 10th year.
Independent sellers contribute about 70% of Amazon.com sales
Online retailers are upsetting a few great American traditions.
BEIJING: China’s economy cooled further last month, with industrial output, fixed asset investment and retail sales missing expectations as the government extended a crackdown on debt risks and factory pollution.
HONG KONG: Jack Ma, who launched China’s largest e-commerce company two decades ago and rode it to a US$47.6bil fortune, turns out to have created billions of dollars of wealth for at least 10 others – a total of almost US$100bil.
SHANGHAI: Singles’ Day, once a celebration for China’s lonely hearts and now the world’s biggest shopping spree, opens at midnight on Friday, with millions of shoppers eager to snap up cut-price deals.