Alibaba profit tumbles, outlook lowered as China reins in tech

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(BSS/AFP) – Chinese e-commerce leader Alibaba Group said on Thursday its latest quarterly profit tumbled 81 percent and lowered its outlook in the face of slowing economic growth and a government crackdown on Big Tech. Alibaba said profit came in at 5.37 billion yuan ($833 million) for the July-September period, falling from 28.77 billion yuan … Read more