Daily Digest – August 9. Uber To Shutter Finance Unit; Consumer Credit Continues To Climb


  • Uber is rumored to be closing its finance operation, which provided leases to individuals that wanted to purchase cars so they could drive for the ride-sharing service. Originally expected to lose about $500 per vehicle, the company recently revealed that losses were actually 18 times higher – $9,000 per vehicle. About 500 people work at the finance unit.


  • The amount of credit card debt in the United States is back above the pre-2008 recession levels, according to data from the Federal Reserve. There was nearly $1.03 trillion in unpaid credit card debt in June. The total amount of consumer debt increased $12 billion from May to June, which was less than what economists had been expecting.

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If you have a tip or item you would like to share, or are interested in sponsoring the Daily Digest, please contact me at mike@canvasbusinessmedia.com.

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Mike Gibb

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