A recently invented Chinese holiday, Singles Day, posted $1 billion in sales in 85 seconds on November 11, with a gala kickoff event headlined by singer Mariah Carey, model Miranda Kerr and basketball star Allen Iverson. For the holiday, the equivalent to our Black Friday, sales rose 27 percent, nonetheless the slowest annual increase in its 10 year history (last year sales rose 39 percent). Alibaba shares doubled in 2017 but this year are down 16 percent, the result of a slowing economy and U.S. trade tariffs. Continue reading Alibaba Breaks Singles Day Record, But Economy Is Slowing