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Alibaba stock slides 11% on revenue miss, lower guidance

Reuters

L’Oreal says it reached agreement with Chinese influencers

PARIS (Reuters) -L’Oreal has reached an agreement with two of China’s top livestreaming stars after a public dispute over discounts on Alibaba’s Singles’ Day earlier this month. “As already communicated by both top livestreamers, L’Oreal China and its partners have found a constructive and satisfactory solution to address the recent customers complaints in relation with Singles Day promotion,” the company said in an emailed statement. Livestreaming stars Li Jiaqi and Viya posted on social media Wednesday that they had suspended ties with the French cosmetics giant after some followers complained, saying L’Oreal facial products they had promoted as carrying the biggest discounts of the year during Singles Day could be bought for less days later on L’Oreal’s own platform.

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