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| November 15, 2018

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Uber sales growth slows as quarterly loss surges to $1.1 billion

November 15, 2018 |

Uber’s sales growth is dramatically slowing even as the ride-hailing company is spending more to fuel global growth, particularly in its food-delivery business.

Revenue growth reached only 38% in the third quarter, not even half of what it was six months earlier, when the company was negotiating…


L.A. Times – Business

Disneyland Hotel is sued a woman who said she was bitten by bedbugs. Her attorney has a history of winning big awards

November 15, 2018 |

A woman who stayed at Disneyland Hotel in Anaheim in April was bitten numerous times by bedbugs and suffered physical and emotional damage, according to a lawsuit filed Tuesday by an attorney who has won large verdicts for bedbug victims.

The lawsuit filed in Los Angeles County Superior Court accuses…


L.A. Times – Business

Tech, financial stocks drag down market for S&P 500’s fifth consecutive loss

November 14, 2018 |

A turbulent day of trading on Wall Street ended Wednesday with a fifth consecutive loss for the benchmark S&P 500 index.

An early rally drove major indexes sharply higher but was gone by midday, leaving the market headed lower for the rest of the day. The Dow Jones industrial average swung from…


L.A. Times – Business

Inflation continues on steady path in October, making another Fed rate hike likely

November 14, 2018 |

U.S. inflation showed little sign of breaking out in October despite strength in the economy and wages, likely keeping the Federal Reserve on its path of gradual interest rate increases.

Excluding food and energy, the core consumer price index rose 2.1% from a year earlier, according to a Labor…


L.A. Times – Business

For $799 and a jump in the electric bill, anyone can mine cryptocurrency

November 14, 2018 |

When there’s a gold rush, sell picks and shovels.

When there’s a cryptocurrency rush, the same wisdom may well hold.

That’s the thinking behind a Los Angeles start-up that’s trying to make mining for cryptocurrency as easy as plugging in a PlayStation.

Coinmine’s first device, which begins selling…


L.A. Times – Business

LoanMe stops offering personal loans in Wisconsin following Times report

November 14, 2018 |

LoanMe, a high-interest lending company in Anaheim, has stopped making personal loans in Wisconsin after a Times report that drew connections between the company and a legally troubled firm that was not permitted to make loans there.

LoanMe no longer advertises loans to Wisconsin residents on its…


L.A. Times – Business

L.A. City Council committee endorses $1.2-billion expansion of convention center and hotel

November 14, 2018 |

A proposal for a $ 1.2-billion subsidized development that would add hundreds of hotel rooms at L.A. Live and substantially enlarge the Los Angeles Convention Center was moved forward Tuesday by a City Council committee.

Members of the Economic Development Committee approved recommendations in a…


L.A. Times – Business

Fairplex proposes deal to pay Pomona $1.5 million extra to mitigate noise, traffic and trash problems

November 14, 2018 |

In hopes of resolving friction with neighbors, operators of the Fairplex in Pomona are proposing adding fees to ticket prices for some fairground events to help pay to address noise, traffic and trash problems.

The new fees charged to fans who attend the annual county fair and music events at the…


L.A. Times – Business

E-cigarette giant Juul quits selling fruit-flavored vape pods to stores

November 13, 2018 |

Juul Labs Inc., the maker of the e-cigarette that is wildly popular with American teenagers, said it stopped selling its fruit-flavored nicotine pods to stores and shut down its U.S.-based Facebook and Instagram accounts.

The move, announced Tuesday by Juul Chief Executive Kevin Burns, follows…


L.A. Times – Business

Amazon splits coveted ‘HQ2’ between New York and Washington, D.C., area

November 13, 2018 |

Amazon.com Inc. will build new offices in New York City and northern Virginia, ending months of jockeying among potential locations across the country vying for a $ 5-billion investment that promises 50,000 high-paying jobs over almost two decades.

Amazon also said it will create more than 5,000…


L.A. Times – Business