11-11 Smashes Records

The Morning Run crew gives you their take on today's business headlines:   

0:33 - Alibaba Group Holding Ltd.’s Singles’ Day shopping bonanza and how it generated a record 168.2 billion yuan ($25.3 billion) in sales, as the company’s investment overseas and effort to link traditional retailers with the internet paid off. This is a 40% increase from last year. The total gross merchandise volume – that is the amount of sales transacted on the tech giant’s e-commerce platforms - was nearly four times the combined online sales of Black Friday and Cyber Monday in the US.

5:53 - Edra Energy's gas s turbine power plant in Alor Gajah, Melaka, is expected to begin operations in 2021. We discuss Edra's proposed Sukuk issuance to finance the plant and its potential IPO.