NEWS

1.  Alibaba breaks sales record on Singles Day 11-11-2016

 

China's largest e-commerce group, Alibaba, set a new record today for Singles Day revenue, with 10 billion yuan ($1.47 billion) in sales in only 6 minutes, 58 seconds. Last year, it took more than 12 minutes to reach that sales figure.

 

New York-based consulting firm Fung Global Retail & Technology said Alibaba is expected to make $20 billion in online sales during this year's shopping frenzy, up 40 percent year-on-year.

 

2. Obama, Trump meet at White House to begin transition of power 11-10-2016

 

WASHINGTON - US President Barack Obama said Thursday he and President-elect Donald Trump had a wide-ranging conversation during their first post-election meeting at the White House.

 

"My number one priority in the coming two months is to try to facilitate a transition that ensures that our president-elect is successful," Obama said, adding that if Trump succeeds, "then the country succeeds."

 

In light of the deep rift among the US society that became evident during the election, Obama said "it is important for all of us, regardless of party, regardless of political preferences, to now come together to deal with many of the challenges we face."

For his part, Trump said "A lot of different situations" were discussed during the one-and-half-hour meeting, which was much longer than expected.

 

Trump also expressed the eagerness to work with the government and Obama in the future.

 

The meeting was the first such event held between Obama and Trump since the former real estate billionaire was elected president on Wednesday.

 

Obama has said Wednesday during a speech acknowledging the election result that despite of the differences between him and Trump, it's paramount to make sure the transition was peaceful.

 

The incoming first lady and vice president also accompanied Trump to the White House and held meetings with their counterparts respectively.

 

According to a statement released by the White House Thursday, the president's team had started preparing since early 2016 to facilitate a smooth transition.