Alibaba delivers on revenue but feels China slowdown

Nestle's new deal: Nestle SA has agreed on a partnership with Alibaba in China to grow online sales, build key brands and offer new products. — Reuters

Strong holiday sales helped e-commerce giant Alibaba Group Holding Ltd beat forecasts on Jan 28 with a 32% rise in third-quarter revenue, but it was not immune from China's slowdown.

Alibaba's results also reflected a weakening of the Chinese economy, with so-called gross merchandise volume (GMV) rising by its slowest annual rate in more than three years.