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☆ Barcelona is banning Airbnbs. Other European cities have cracked down already — with some success.
▼ + stars: | 2024-08-11 | by ( Eliza Relman | Dan Latu | ) www.businessinsider.com time to read: +8 min

Many experts say short-term rentals, including Airbnbs, are part of the problem, restricting local housing supply and driving up prices. We took a look at three European hubs — Lisbon, Florence, and Amsterdam — that have imposed relatively strict regulations on short-term rentals. Cities have been worried about the impact of short-term rentals on housing costs for years. Instead of a blanket ban, Amsterdam caps the number of nights hosts can rent out their homes at 30 a year. In an increasingly tight housing market, the dominance of short-term rentals acts as an "amplifier," he said.

Persons: —, Airbnb, Lisbon's, João Pereira dos Santos, Pereira dos Santos, Gregory W, Fuller, Florence, Florence's, Dario Nardella, Antonello Romano, Romano Organizations: Service, Business, New York, School of Economics, Finance, Queen Mary University of London, University of Groningen, Wall Street, University of Pisa Locations: Barcelona, Barcelona's, Spanish, New York, Tokyo, Vancouver, London, Paris, — Lisbon, Florence, Amsterdam, Lisbon, New York City, EU, Portugal, Netherlands, Venice

☆ Stocks making the biggest premarket moves: Planet Fitness, Warner Bros Discovery, Yeti, Airbnb and more
▼ + stars: | 2024-05-09 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Quarterly revenue was $248 million, versus the $249.5 million expected from analysts polled by FactSet. Klaviyo guided for second-quarter revenue of $211 million to $213 million, higher than the $210 million expected from analysts polled by LSEG. AppLovin reported earnings per share of 67 cents, versus the 57 cents expected from analysts polled by LSEG. Bumble reported earnings per share of 19 cents, versus the 7 cents expected from analysts polled by FactSet. Adjusted earnings per share were 7 cents, versus the 6 cents expected.

Persons: Revenue, Klaviyo, AppLovin, AMC's, Duolingo, LSEG . Bumble —, Bumble, Warby Parker, Warby, Roblox, —, Jesse Pound, Tanaya Macheel, Alex Harring, Samantha Subin Organizations: FactSet, Warner Bros, LSEG, postmarket, Revenue, AMC, FactSet . Revenue, Wall Locations: British

NEW YORK (AP) — Airbnb on Tuesday donated a total of $10 million to more than 120 nonprofits in 44 countries on six continents, the short-term rental giant's latest outlays in its unusual distribution of $100 million through its Airbnb Community Fund. “Airbnb has a 21st century company view,” said Janaye Ingram, Airbnb’s director of community partner programs and engagement. By supporting nonprofits that its hosts find valuable, Airbnb can get more funding to groups that help keep their communities strong, Ingram said. The board solicited recommendations for nonprofits from the hundreds of Airbnb Host Club leaders around the world. However, the Airbnb Community Fund is operated separately from that.

Persons: — Airbnb, “ Airbnb, ”, Janaye Ingram, Ingram, Brian Chesky, “, ‘, ” Chesky, Nadia Giordani, George Floyd, ” Giordani, “ We’re, Airbnb, ” Airbnb’s Ingram Organizations: Fund, Japanese, Dog Resource, Atlanta Habitat, Humanity, Stanford University Graduate School of Business, Airbnb Host Club, Corporate Purpose, Community Fund, Lilly Endowment Inc, AP Locations: Digify Africa, ” San Francisco, Airbnb, New York City, Atlanta, Minneapolis

SAN FRANCISCO (AP) — Airbnb said Wednesday it earned $4.37 billion in the third quarter as it booked a large tax benefit and posted higher-than-expected revenue during the summer travel season. Airbnb said that excluding the tax benefit, net income would have been $1.6 billion, up from $1.2 billion a year earlier. Revenue rose 18% to $3.4 billion as the company saw a 14% increase in bookings and slightly higher average prices for short-term rentals. Analysts expected the San Francisco company to post revenue of $3.37 billion, according to a FactSet survey. Political Cartoons View All 1230 ImagesAirbnb predicted fourth-quarter revenue between $2.13 billion and $2.17 billion, below Wall Street's forecast of $2.18 billion.

Persons: — Airbnb, Airbnb, Brian Chesky, ” Chesky Organizations: FRANCISCO, Revenue Locations: San Francisco, Asia, America

☆ Stocks making the biggest moves premarket: Warby Parker, HP, Point Biopharma and more
▼ + stars: | 2023-10-03 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Co-CEOs Neil Blumenthal and Dave Gilboa of Warby Parker at the New York Stock Exchange on Sept. 29, 2021. Warby Parker — Warby Parker jumped about 4% after Evercore ISI upgraded the eyeglass retailer to an outperform rating, saying shares could rally more than 50% as the company's margins and revenue growth reaccelerate. Eli Lilly , Point Biopharma — Shares of Point Biopharma popped 85% after Eli Lilly announced it would buy the cancer therapy maker for $12.50 a share in cash, or roughly $1.4 billion. Warner Music Group — Warner added 3.5% after UBS upgraded the stock to buy from neutral. Emerson Electric — The industrial giant dipped 1% in premarket trading after UBS downgraded the stock to neutral from buy, citing the company's valuation and limited upside.

Persons: Neil Blumenthal, Dave Gilboa, Warby Parker, Warby Parker — Warby Parker, Eli Lilly, Biopharma, McCormick —, McCormick, Roth MKM, —, Alex Harring, Sarah Min, Michelle Fox, Pia Singh Organizations: New York Stock Exchange, ISI, HP, Bank of America, StreetAccount, Warner Music Group, Warner, UBS, KeyBanc, Emerson

☆ Frontier Airlines CEO says the pandemic made workers 'lazy' and less productive: 'People are still allowing people to work from home, all this silliness, right?'
▼ + stars: | 2023-09-15 | by ( Kylie Kirschner | ) www.businessinsider.com time to read: +6 min

Frontier Airlines CEO Barry Biffle criticized remote work, saying the pandemic made people lazy. Biffle joins a growing list of execs critical of remote work, including Elon Musk and David Solomon. Frontier Airlines CEO Barry Biffle criticized working from home while speaking at Morgan Stanley's Laguna Conference this week, saying the pandemic made people lazy and that workers have gotten less productive as a result. AdvertisementAdvertisement"This is not ideal for us, and it's not a new normal," Solomon said at a conference in February 2021 regarding remote work, Bloomberg reported. AdvertisementAdvertisementAs the debate over working from home continues, there have been conflicting conclusions from studies on whether remote work is conducive to productivity.

Persons: Barry Biffle, Biffle, Elon Musk, David Solomon, they're, We're, Biffle isn't, Elon, Tim Gurner, Alexandria Ocasio, COVID, Gurner, Goldman Sachs, it's, Solomon, Mark Zuckerberg, Meta, Zuckerberg, Brian Chesky, Airbnb, Prithwiraj Choudhury Organizations: Frontier, Elon, Service, America . Frontier Airlines, Morgan, Laguna Conference, Frontier Airlines, Meta, Apple, Google, CNBC, Millionaire, Bloomberg, Engineers, Harvard Business School, Companies, Street Journal, Research Locations: Wall, Silicon, America, Cortez, Australia, Airbnbs, India

☆ 'Airbnb is our wealthy man': A booking scam left a TikTok star stranded in Italy until Airbnb intervened to put her group up in a luxurious Mediterranean villa
▼ + stars: | 2023-05-26 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Her complaint video received over 6 million views in just days, and Airbnb stepped in to help. Airbnb is now receiving praise and criticism for responding so quickly and putting the group in a Positano villa. One day and 5.5 million views later, the group of about 10 women are spending their European vacation in a villa overlooking the Mediterranean Sea thanks to Airbnb. "Upon investigation, we can now confirm that this fake villa listing was not booked via Booking.com, but instead found on a fake copycat website," the statement read. Social media commentator Jack Appleby wrote in a tweet that the video of Earle thanking Airbnb garnered close to two million views in four hours.

☆ Stocks making the biggest moves after hours: Airbnb, Twilio, Rivian, Occidental Petroleum and more
▼ + stars: | 2023-05-09 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

The company posted a slight beat on revenue. Rivian — The electric vehicle stock gained more than 5% in extended trading. Rivian reported a narrower-than-expected loss and revenue beat Wall Street's expectations. Toast — The cloud-based restaurant software vendor popped 7.4% in extended trading. The company reported an adjusted loss of 47 cents a share.

☆ The battle over Airbnb has hit a breaking point
▼ + stars: | 2023-03-22 | by ( James Rodriguez | Dan Latu | ) www.businessinsider.com time to read: +16 min

"We started panicking and started connecting with other folks who we know have short-term rentals," Sullivan told Insider. Rather than a collapse of the industry, the increasingly bifurcated state of the market — a bust for some, a boom for others — is a clear sign that we have hit a turning point in the long-running battle over short-term rentals. Given the sharp rise of short-term rentals there, some local lawmakers have recently called for amending the law. Investors jumped in to capitalize on the boom, and the market soon became saturated with short-term rentals. There's one thing pretty much everyone can agree on: Short-term rentals are here to stay.

☆ The 'Airbnbust' proves the Wild West days of online vacation rentals are over
▼ + stars: | 2023-03-22 | by ( James Rodriguez | Dan Latu | ) www.businessinsider.com time to read: +16 min

"We started panicking and started connecting with other folks who we know have short-term rentals," Sullivan told Insider. Given the sharp rise of short-term rentals there, some local lawmakers have recently called for amending the law. But short-term rentals are often essential to a healthy tourism economy, particularly in vacation destinations. Investors jumped in to capitalize on the boom, and the market soon became saturated with short-term rentals. There's one thing pretty much everyone can agree on: Short-term rentals are here to stay.

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