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Alibaba keeps Singles Day sales tally under wraps for first time

13 Sept 21:22 Key points summarised by AI

Alibaba withheld full sales figures for its annual Singles Day event for the first time ever, attributing the results to 'macro challenges and Covid-related impact' while stating they were 'in line with last year’s.'
This unprecedented move signals a shift away from celebrating 'excessive consumption,' influenced by Beijing's ongoing crackdown on online platforms, anti-monopoly drives, and the 'common prosperity' initiative.
The subdued performance and lack of transparency reflect a cooling Chinese economy, with consumers tightening spending due to the persistent zero-Covid strategy and a diminished public presence for Alibaba's founder, Jack Ma.

Today 12:56 Key points summarised by AI

President Macron condemned widespread rioting and looting during nationwide protests, blaming far-left activists and criminals for the "unrestrained violence" and vowing accountability for those who "sought to bring down the Republic."
Over 2,400 arrests were made as protests against rising living costs and poor school conditions escalated, causing extensive damage to public buildings and businesses in cities like Paris, Limoges (where City Hall burned), Marseille, and Lyon.
The unrest, which organizers hoped would revive the "yellow vest" movement, saw political leaders trade blame, with Macron instructing prefects to protect public buildings and potentially ban future protests to prevent further disorder.