Uber to close U.S. car-leasing business

Investing.com - Uber is planning to close out its U.S. car-leasing business by the year’s endThe move is a bid to stem unsustainably high lossesUp to 500 jobs could be affected by the end of the Xchange Leasing programThat represents around 3% of Uber’s 15,000 staffInvestors have urged Uber to cut costs and prepare for a possible IPOUber is searching for a new CEO after Travis Kalanick was ousted in JuneThe firm is dealing with fallout from a crisis over its corporate culture disputes with drivers & a lawsuit over trade secrets from Alphabet (NASDAQ:GOOGL)