Business Briefs – April 11, 2019

Uber Reveals Finances as It Gears Up for IPO

SAN FRANCISCO (AP) – Uber is providing a look under the hood of its business in the lead-up to its hotly anticipated debut on the stock market. New documents released offer the most detailed view of the world’s largest ride-hailing service since its inception a decade ago. The breakdown shows Uber has been generating the robust revenue growth that entices investors, and it turned a profit in 2018, reversing a history of losses.

Apartment Rents Climbing, And Poised to Go Higher

NEW YORK (AP) – It’s a great time to be a landlord in America, not so much if you’re a renter. Apartment rents are continuing to rise this year, fueled by higher demand from millennials seeking a place of their own, strong job growth and rising wages. The U.S. median rent climbed 3.4% in March from a year earlier to $1,535, according to data from online rental housing portal HotPads.

China Says Trade Talks With U.S. ‘Moving Forward’

BEIJING (AP) – China says trade talks with the U.S. are “moving forward” after nine rounds of consultations aimed at ending a standoff that has shaken financial markets and darkened the world economic outlook. Foreign Ministry spokesman Lu Kang says the latest discussions had achieved “new substantial progress.” Three days of talks last week dealt with issues including technology transfer and intellectual property rights protection.

‘A Monopoly on Information’: Russia Closes Grip on Internet

MOSCOW (AP) – Russian lawmakers have approved a bill that would expand government control over the internet. Opponents fear the move heralds a new era of widespread censorship. Backers of the bill say it would help Russia from cyberattacks and could shield the country from critical Western media. The bill passed a second reading Thursday, the most crucial phase that lays out the detail of the prospective law.

Boeing Makes 96 Flights to Test Software on Troubled Max Jet

DALLAS (AP) – Boeing’s CEO says the company has made nearly 100 flights to test a software update to its troubled 737 Max jet. The plane has been grounded after two deadly crashes. Boeing is also meeting with airline officials and pilots in the US, UK, Singapore and China as it seeks to rebuild confidence in its best-selling plane.

Bezos, Hunting for Big Wins, Is Comfortable With Big Fails

NEW YORK (AP) – Amazon’s Jeff Bezos says the company is getting bigger and he’s comfortable with even bigger failures in the quest for big wins. Bezos released his annual letter to shareholders Thursday, which including a challenge to rivals to match Amazon’s starting hourly wage and benefits package for workers.