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Alibaba reports loss of 2.89 billion dollars in third quarter

Chinese e-commerce giant Alibaba on Thursday reported a loss of 20.6 billion yuan ($2.89 billion) for the third quarter, as the company grapples with an economic slowdown and an anti-monopoly crackdown. The heavy net loss attributable to ordinary shareholders was primarily due to a "decrease in market prices of our equity investments in publicly...

17 Nov 2022