For China's E-Retailers, 'Singles' Day' is the New Christmas - Reuters TV; Alibaba Breaks Sales Record - Bloomberg

For China's e-retailers, 'Singles' Day' is the new Christmas (via Reuters TV)

Chinese e-commerce giant Alibaba has created the world's biggest online shopping phenomenon out of a day that started off as a celebration for the unattached. Jane Lanhee Lee reports.

More news via Bloomberg:

Alibaba Breaks Sales Record Amid China Singles-Day Discounts

Alibaba Group Holding Ltd. said transactions on its websites yesterday topped 35 billion yuan ($5.75 billion), surpassing last year’s single-day sales of 19.1 billion yuan as discounts fueled demand on China’s biggest online shopping day.

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