China’s spending slump is taking its toll on e-commerce giant Alibaba, which missed earnings estimates.
(Reuters) – Alibaba (NYSE:BABA) Group Holding missed market expectations for first-quarter revenue on Thursday, as the company’s domestic e-commerce sales came under pressure from cautious spending by Chinese consumers in a faltering economy. A halting economic recovery in China coupled with a persistently weak property market and high job insecurity levels have sapped consumer confidence and spending … Read more