Business & Economy
Associated Press/Photo by Seth Wenig (file)

Uber takes $1B in losses

by Kyle Ziemnick
Posted 5/31/19, 10:54 am

The ride-sharing company Uber posted $1 billion in losses during the first quarter of 2019, despite gaining 20 percent in revenue over last year’s first quarter, in its first financial report since going public three weeks ago. The huge loss is attributed to an uptick in spending to remain competitive in the ride-sharing marketplace. Uber and Lyft are trying to become the go-to companies around the world amid increasing regulations and high demand.

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Associated Press/Photo by Ng Han Guan

U.S. plans tariff hike on virtually everything from China

by Lynde Langdon
Posted 5/14/19, 11:39 am

U.S. trade officials issued a list Tuesday of $300 billion more of Chinese goods targeted for possible tariff increases. The list “covers essentially all products” exported from China that haven’t already been hit with tariff increases, the U.S. Trade Representative’s office said. It includes laptop computers, saw blades, turbine parts, tuna, and garlic.

The United States and China appear locked in a battle of wills after trade talks hit a setback and President Donald Trump announced new duties on Chinese imports last week. China responded with more tariffs of its own Monday.

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Associated Press/Photo by Andy Wong

China fires back with more tariffs

by Lynde Langdon
Posted 5/13/19, 11:13 am

China on Monday announced retaliatory tariff increases on $60 billion worth of U.S. goods. The trade war between the two countries entered a new phase as negotiations broke down last week and President Donald Trump said he would raise tariffs from 10 percent to 25 percent on $200 billion in Chinese exports. The United States blames China for trying to renegotiate already-agreed-upon parts of a trade pact.

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