News Snapshot:
Chinese e-commerce firm Alibaba Group Holding on Thursday beat market expectations for revenue in its quarter ended June, even as revenue was nearly flat and the company continues to grapple with the fallout from increased regulatory scrutiny and slowing economy growth. Alibaba reported revenues of 205.6 billion (USD 30.4 billion) for its quarter ended June, a 1 per cent decrease from the same time last year. It was the first time that the company reported a contraction in sales. That was still better than the average analyst estimate of USD 30.09 billion, according to FactSet. Net income plunged 50 per...
