Uber says it losing $1 bln a year to compete in China
 

Uber says it losing $1 bln a year to compete in China
SHANGHAI, Feb 18 (Reuters) - The chief executive of Uber Tech**logies Inc said the company is burning through more than a billion dollars a year in China, where it is locked in a fierce battle with larger local rival Didi Kuaidi to lure consumers with cut-price deals.
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