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Coda Automotive Lays Off 50

socalTECH

It looks like Southern California's emerging electric automobile industry has definitively hit the skids, as Santa Monica-based electric auto developer Coda Automotive laid off 50 employees Tuesday. The layoffs--first reported by PlugInCars--apprently included a "substantial part" of its sales and marketing staff.

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Elon Musk says Tesla Model Y will be revealed at its LA design studio on March 14

TechCrunch LA

Tesla said that to achieve this lower price it will shift all sales globally to online only, meaning the company will be closing many of its stores over the next few months. The stores that remain, in high-traffic locations, will be turned into information centers, Musk said on a call with reporters.

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THQ Raises Q4 Outlook

socalTECH

Agoura Hills-based THQ , the embattled videogame maker, is finally seeing some good news, reporting today that it is expecting to report non-GAAP net sales of $160 million to $170 million, above its previous outlook of $130 million to $150 million.

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Biotech Roundup: Moonshots, Pink Slips, Gilead, Brexit & More

Xconomy

If you want fireworks this weekend, you can either celebrate the 4th of July or watch the latest post-Brexit political developments in Britain. But as Xconomy reported, details about the reorganization were scant, leaving open questions whether drug regulation actually needs to move faster.

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THQ Cuts 250 Employees

socalTECH

Agoura Hills-based video game maker THQ said late Wednesday that it is cutting 250 employees, or 17% of its staff, after reporting disappointing results. The firm said it is cancelling several titles under development, closing five studios, and reducing approximately 250 people and streamlining its corporate organization. READ MORE>>

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Biotech Roundup: Hellos, Goodbyes, “Cures” Delays And Trial News

Xconomy

” —Company funding news: Tesaro (NASDAQ: TSRO ) of Waltham, MA, said it took advantage of positive Phase 3 data to raise $409 million in a secondary stock sale…Protagonist Therapeutics, based in Milpitas, CA, has filed for a $75 million initial public offering. —Enough good trial news. —In other Merck news, U.K.-based

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