China e-commerce heavyweight Alibaba Group set a $30.8 billion record for 24-hour sales at its annual 11.11 Global Shopping Festival. The growth rate declined to 27% in local currency terms from 39% a year earlier, amid increasing competition from other shopping platforms in China and easing economic growth in the country this year. The 10th anniversary of the biggest shopping day in the world started on Saturday in Shanghai with a four-hour gala that saw Mariah Carey, Allen Iverson and Cirque du Soleil take the stage, along with Asian pop stars Jay Chou and Coco Lee. More than 200 million watched the show on ... (full story)