Reuters

(Reuters) - China's Alibaba Group Holding on Tuesday beat analysts' estimates for fourth-quarter revenue, as a focus on low-cost goods in response to cautious consumer spending helped boost domestic e-commerce sales in the three-month period.

The company reported revenue of 221.87 billion yuan ($30.66 billion)in the three months ended March 31, compared with a consensus estimate of 219.66 billion yuan, according to LSEG data.

($1 =... (continue reading...)

MOSCOW (Reuters) - Russia's Supreme Court has rejected an appeal by Kremlin critic Vladimir Kara-Murza against his 25-year jail sentence on treason and other charges, according to a Reuters reporter at the court on Tuesday.

Moscow-born Kara-Murza, who has both Russian and British passports, has repeatedly condemned Russia's war in Ukraine, criticised President Vladimir Putin, and lobbied for Western sanctions against Moscow.

His quarter... (continue reading...)

SYDNEY (Reuters) - Rating agency S&P said on Tuesday that Australia's budget for the fiscal year ending June 2024 could be mildly inflationary.

"While the Labor administration estimates that it has banked (rather than recycled into new outlays) approximately 88% of unexpected tax revenue upgrades since coming into office, today's budget slightly loosens the purse strings," the rating agency said in a statement after budget details were released.

By Jack Queen, Luc Cohen and Joseph Ax

NEW YORK (Reuters) - Donald Trump's former fixer Michael Cohen will resume testifying on Tuesday at the Republican presidential candidate's criminal trial, a day after telling jurors that Trump personally authorized him to make a hush money payment to a porn star weeks before the 2016 election.

Cohen, once so loyal to Trump that he claimed he would take a bullet for his boss, is the prosecution's... (continue reading...)

A look at the day ahead in U.S. and global markets from Mike Dolan

Macro markets have basically frozen ahead of this week's big U.S. inflation releases, with sideshow entertainment provided by a fresh burst in activity in so-called 'meme stocks' while earnings updates and deals sagas dominated overseas.

With Wednesday's April consumer price report this week's focus, Tuesday's release of the month's producer price index provides the appetizer... (continue reading...)