Alibaba needs to outgrow its Singles´ Day
(WorldNews Business)

Alibaba Group Holding Ltd should put its Singles´ Day shopping extravaganza out to pasture. The November 11 annual event, which has been going for a decade, started as a marketing gimmick for an upstart e-commerce company looking to draw a crowd. And it did. The 24-hour shopping period, during which Alibaba and its vendors offer big discounts while celebrities (Taylor Swift this year) jet in to entertain crowds, is focused on one number: gross merchandise value, a fancy word for turnover, or the amount of money that sloshes through the cyber cash registers of...