Alibaba trims revenue forecasts

China’s

Alibaba Group Holding has lowered its full-year sales forecast due to concerns about the economic impact of a USChina trade spat, which the company expects will dent revenue ahead of its top sale season. Asia’s most valuable public company said it will cut its full-year revenue forecast to between 375 billion and 383 billion yuan ($54.4 billion to $55.6 billion), a 4-6 per cent drop, while sales growth in its core commerce business for the September quarter slowed to its lowest rate since 2016. (Reuters)