Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "ABNB"


25 mentions found


Blackstone and Airbnb set to join S&P 500; shares climb
  + stars: | 2023-09-01 | by ( ) www.reuters.com   time to read: 1 min
Signage is seen outside the Blackstone Group headquarters in New York City, U.S., January 18, 2023. REUTERS/Jeenah Moon Acquire Licensing RightsSept 1 (Reuters) - Shares of Blackstone (BX.N) and Airbnb (ABNB.O) rallied in extended trade on Friday after S&P Dow Jones Indices said the two companies would join the S&P 500 (.SPX) index. Blackstone was up 4.1%, while Airbnb jumped 5% after S&P Dow Jones Indices said the companies would replace Lincoln National Corp (LNC.N) and Newell Brands Inc (NWL.O) before the start of trading on Sept. 18. Lincoln National dipped 0.7% and Newell Brands was last unchanged. Reporting by Noel Randewich; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.
Persons: Dow, Blackstone, Airbnb, Newell Brands, Noel Randewich, Jonathan Oatis Organizations: Blackstone Group, REUTERS, Blackstone, Dow Jones, Lincoln National Corp, Newell Brands Inc, Lincoln National, Newell, Thomson Locations: New York City, U.S
Oracle (ORCL) upgraded to buy from neutral at UBS with a price target of $140. Piper Sandler increases its Broadcom (AVGO) price target to $925 from $830 ahead of earnings Thursday after the bell. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: telco, Corie Barry, Piper Sandler, Bernstein, Jim Cramer's, Jim Cramer, Jim, Marlena Sloss Organizations: Oracle, UBS, Nvidia, Investing, Nasdaq, Verizon, Citi, underperform, Biden Administration, Medicare, pharma, DuPont, Broadcom, Jim Cramer's Charitable, CNBC, Bloomberg, Getty Locations: Airbnb, Salesforce, San Francisco , California
The recent pullback in Airbnb creates an attractive entry point for investors looking to buy a quality growth company, according to Bernstein. "Recent share price weakness presents a compelling entry point, with bear fears largely discredited following Q2," wrote analyst Richard Clarke in a Tuesday note to clients. "We see 30%+ potential upside, with an H2 acceleration as peers begin to slow, and ancillary revenue announcements in 2024 as key catalysts." Despite the recent stumble, Clarke remains bullish on the long-term outlook for the travel company he believes has one of the deepest moats, optionality and fastest core top- and bottom-line growth. ABNB 1M mountain Airbnb shares over the last month Although Airbnb looks expensive on a near-term basis, shares look "increasingly cheap" when accounting for the revenue increase from additional opportunities, Clarke wrote.
Persons: Bernstein, Richard Clarke, Clarke, — CNBC's Michael Bloom Organizations: Holdings
International travel reached around 90% of pre-pandemic levels this year, according to the International Air Transport Association. Those trends lifted quarterly earnings of travel companies, with cruise operators like Royal Caribbean (RCL.N) reporting record results in recent weeks. Ticket prices, which in some cases have increased by double-digit percentages since the pandemic, are unlikely to plummet. She expects air fares on long-haul international routes to remain high until supply outpaces pre-pandemic levels, demand normalizes and jet fuel prices decline further. International inbound vs outbound in the U.S this yearAverage domestic airfare is currently $246 round-trip, down 8% from 2022, according to travel booking app Hopper.
Persons: Dan McKone, Amadeus, Jozsef Varadi, Hayley Berg, Hopper, that's, Glenn Fogel, Kathleen Oberg, Joanna Plucinska, Rajesh Kumar Singh, Doyinsola, David Gaffen, Matthew Lewis Organizations: International Air Transport Association, Consulting, Royal, Booking Holdings, Marriott, Lufthansa LHAG.DE, United Airlines, Wizz, Reuters, Holdings, International, U.S . National Travel, Tourism Office, British Airways, IAG, Thomson Locations: CHICAGO, Southern Europe, Britain, France, United States, Germany, Singapore, Royal Caribbean, Manila, Hong Kong, Taipei, Tokyo, Europe, Asia, COVID, U.S, Canada, London, Chicago, New York, Bengaluru
Adobe's Figma deal faces EU competition investigation
  + stars: | 2023-08-07 | by ( Foo Yun Chee | ) www.reuters.com   time to read: +2 min
REUTERS/Dado Ruvic/IllustrationBRUSSELS, Aug 7 (Reuters) - Adobe's (ADBE.O) $20 billion bid for cloud-based designer platform Figma could reduce competition in global markets for interactive product design tools and also shut out rivals, EU antitrust regulators said on Monday. The European Commission said it opened a full-scale investigation into the deal after a preliminary review triggered concerns, confirming a Reuters story last month. The deal would remove an important rival and could allow Photoshop maker Adobe to restrict competition in the global markets for supply of interactive product design tools, the EU antitrust watchdog said. It said the acquisition could also affect Figma's potential for growth into an effective competitor to Adobe's asset creation tools and effectively reduce competition in interactive product design tools by bundling Figma with Adobe's Creative Cloud suite. The EU competition enforcer said it would decide by Dec. 14 whether to clear or block the deal.
Persons: Dado Ruvic, Competition Margrethe Vestager, Adobe, Foo Yun, Sharon Singleton, David Goodman Organizations: REUTERS, European Commission, Reuters, Tech, Zoom Video Communications, Adobe, Competition, EU, Thomson Locations: BRUSSELS
REUTERS/Dado Ruvic/IllustrationAug 3 (Reuters) - Airbnb (ABNB.O) forecast revenue for the current quarter above market estimates on Thursday, as the vacation rental firm is set to gain from a rebound in international travel. The San Francisco-based company forecast revenue for the third quarter between $3.3 billion and $3.4 billion, ahead of analysts' average estimate of $3.22 billion, as per Refinitiv data. Travel operators have begun to benefit from a robust rebound in international travel, aided by pandemic restrictions easing and a strong U.S. dollar that has encouraged consumers to book flights and stays overseas. Gross bookings rose 13% to $19.1 billion, in line with analysts' average estimate. Airbnb's quarterly revenue rose 18.1%, to $2.48 billion, ahead of analysts' estimate of $2.42 billion.
Persons: Dado Ruvic, Airbnb, Gross, Priyamvada, Pooja Desai Organizations: REUTERS, Asia Pacific, Marriott, Hilton Worldwide Holdings, Spirit Airlines, Thomson Locations: San Francisco, United States, North America, Paris, France, Bengaluru
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/airbnb-abnb-earnings-q2-earnings-report-2023-6d66c232
Persons: Dow Jones
A Spirit Airlines jet taxis from Newark Liberty International Airport in Newark, New Jersey, U.S. December 6, 2019. REUTERS/Chris Helgren/File PhotoAug 3 (Reuters) - U.S. travel stocks fell in early trading on Thursday following downbeat quarterly reports from Spirit Airlines (SAVE.N) and Expedia (EXPE.O) that amplified concerns domestic demand may be easing after a strong rebound from pandemic lows. Spirit, which mainly operates on domestic routes, also forecast weaker-than-expected revenue for the third quarter, with Citi analysts citing the effect from travel demand shifting to international from domestic. Adding to the gloom, online travel firm Expedia Inc (EXPE.O) reported smaller-than-expected bookings for the second quarter, even as it said travel demand remained "strong." "We believe this is further evidence of softening in U.S. travel demand trends while international growth continues to outperform," Wedbush analyst Scott Devitt said in a note.
Persons: Chris Helgren, Gross, Scott Devitt, airfares, Priyamvada, Kannaki, Pratyush Thakur, Sriraj Organizations: Spirit Airlines, Newark Liberty International Airport, REUTERS, Citi, Southwest Airlines, Alaska Air, Delta Air Lines, United Airlines, American Airlines, Expedia Inc, Thomson Locations: Newark , New Jersey, U.S, Southwest, Bengaluru
Analysts point to receding recession concerns and the prospect of a less aggressive policy stance from the U.S. Federal Reserve as factors fuelling hopes for a broader market rally. The second quarter earnings season has started positively for cyclical sectors, with over a quarter of the global companies announcing their results so far, Refinitiv Eikon data showed. "The upcoming earnings season has the potential to broaden the rally for sure. However, there are plenty of laggards especially in cyclical sectors such as financials and consumer discretionary, which are available at attractive valuations, analysts say. Over the past month, the communication services, mining and financial sectors have all posted about 5% gains, outpacing the tech sector's modest 2% rise.
Persons: Puneet Singh, Singh, Alastair Pinder, Derek Izuel, Patturaja Murugaboopathy, Noel Randewich, Vidya Ranganathan, Alison Williams Organizations: U.S . Federal Reserve, Reuters, Societe Generale, Carnival Corp, Equity, Nasdaq, Intelligence, Royce, Reuters Graphics Reuters, HSBC Research, Shelton Capital Management, Thomson Locations: U.S, Singapore, Asia, Europe, California
All three major averages advanced for the week, powered by strong mega-cap earnings and favorable inflation data. Looking to next week, earnings season enters its second half with the last of our mega-caps — Apple (AAPL) and Amazon (AMZN) — set to report on Thursday. We'll get a better read on the employment picture on Wednesday with the ADP report and then, more importantly, on Friday's nonfarm payrolls report for July. Thursday after the close brings us to the main events of the week: Earnings from Apple and Amazon. For those looking to review first quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.
Persons: We'll, that's, Stanley Black, Decker, Emerson, Bausch, Leggett, Platt, SIRI, Ares, COLM, PERI, Kraft Heinz, Phillips, Ferrari N.V, Johnson, Robinson, COOK, BUD, Kellogg, Papa, Pitney Bowes, Parker, Trimble, Ziff Davis, Nonfarm, Jim Cramer's, Jim Cramer, Jim, Apple Tim Cook, Kevin Dietsch Organizations: Nasdaq, Dow, Federal Reserve, Federal, ISM Manufacturing, Services PMI, Investors, Caterpillar, Devices, Starbucks, Natural Resources, AMD, Management, Emerson Electric and, Humana, Bausch Health, Apple, Microsoft, Resource Partners, AerCap Holdings, CNA Financial Corp, CNA, Apellis Pharmaceuticals, Bank, SJW, Hutchison China MediTech, Camtek Ltd, Silvercrest Asset Management, Loews Corp, Oxford Lane Capital Corp, Banco Santander, Silicom Ltd, SuperCom Ltd, Arista Networks, Avis Budget Group, Diamondback Energy, Lattice Semiconductor Corp, Republic Services, Yum China Holdings, Western Digital Corp, Power Systems, Tenet Healthcare Corp, Vornado Realty, BioMarin Pharmaceutical, PetMed, SBA Communications Corporation, Brixmor, Snack Foods Corp, Cushman & Wakefield, Sanmina Corporation, TFI, PMI, Cruise Line Holdings Ltd, Uber Technologies, Pfizer, Enterprise Products Partners, Merck, JetBlue Airways Corporation, Allegro MicroSystems, Altria, SunPower Corp, SiriusXM Holdings, Molson Coors Beverage, Marriott International, Toyota Motor Corp, BP, SYSCO Corp, Marathon Petroleum Corp, Ares Management, Equitrans Midstream Corporation, Game Technology, Illinois Tool, IDEXX Laboratories, Rockwell Automation, Packaging International Corp, Gartner, Zebra Technologies Corp, IQVIA Holdings, Oshkosh Corporation, Leidos Holdings, Eaton Corp, yte Corp, Lear Corp, Starbucks Corp, Devon Energy Corp, SolarEdge Technologies, Lumen Technologies, Virgin Galactic Holdings, Caesars Entertainment, VF Corp, Sciences Corp, Paycom, Vertex Pharmaceuticals, Suncor Energy, Holdings, Chesapeake Energy Corp, Boston Properties, American International Group, AIG, Allstate Corp, Aspen Technology, Electronic Arts, EA, Flowserve Corporation, Denny's, Corp, Prudential Financial, Store, Ternium S.A, Vimeo, Emerson, Lomb, CVS Health, Generac Holdings, Cameco Corp, Perion Network Ltd, Builders, Carlyle Group, Scorpio, Teva Pharmaceutical Industries, Ltd, Rithm Capital Corp, AeroSystems Holdings, Vertiv Holdings Co, Johnson Controls, CDW Corp, DuPont, Brands Holdings, Scotts Miracle, Gro, SMG, Brands, Allegheny Technologies, AmerisourceBergen Corporation, ABC, Real Estate Corporation, Adient plc, Editas, Garmin Ltd, WWE, Bunge Ltd, Criteo S.A, PayPal, QUALCOMM, Occidental Petroleum Corp, Apache Corp, Albemarle Corp, MGM Resorts International, MGM, Marathon Oil Corp, Joby Aviation, Industrial, CF Industries Holdings, Goodyear Tire &, Realty ome Corp, Metlife, Pacific Biosciences of, Rush Street Interactive, Zillow, JFrog Ltd, Herbalife Nutrition Ltd, Simon Property Group, McKesson Corp, Storage, Cerus Corporation, GXO Logistics, MAX Holdings, Health, Anheuser, Busch InBev, Warner Bros ., Cheniere Energy, ConocoPhillips, Hasbro, CIGNA Corp, Lantheus Holdings, Regeneron Pharmaceuticals, Fiverr International, Air Products & Chemicals, TopBuild Corp, EPAM Systems, Lightspeed Commerce, Aurinia Pharmaceuticals, Cummins, CMI, Slair Corporation, Starwood Property Trust, Vulcan, Alnylam Pharmaceuticals, New Energy Corp, Cedar Fair Entertainment, Intellia Therapeutics, Lending, Privia Health, Dickinson, Chimera Investment, CIM, Hyatt Hotels Corp, Lion Electric, LEV, Deluxe Corp, Murphy Oil Corp, PBF Energy, Papa John's, Targa Resources Corp, Wix.com Ltd, Apollo Global Management, LLC, Butterfly, Sempra Energy, Aptiv PLC, Brookfield Infrastructure Partners, Canada Goose Holdings, Hannifin Corporation, WESCO International, WCC, Arrow Electronics, Constellation Energy Group, Midstream Partners, Coinbase, Petroleo Brasileiro SA Petrobras, Gilead Sciences, Opendoor Technologies, Booking Holdings, Atlassian Corporation, International, Redfin Corporation, Motorola Solutions, Monster Beverage Corporation, Consolidated Edison, Rocket Companies, Apple Hospitality, Cirrus, Resources, Universal Display Corporation, Chesapeake Utilities Corp, Social, Defense, Security Solutions, Post Holdings, Tandem Diabetes Care, Nikola Corporation, Magna International, Dominion Energy, ACM Research, Frontier Communications, Brookfield Renewable Partners, inTEST Corporation, American Pipeline, TELUS International, XPO Logistics, Fluor Corp, Gray Television, Cboe, LyondellBasell Industries, Twist Bioscience, Global, Jim Cramer's Charitable, CNBC, Allen & Company Sun Valley, Getty Locations: U.S, China, India, Oxford, Chile, Illinois, Columbia, Pacific, Pacific Biosciences of California, Southern, PBI, Gilead, Sun Valley , Idaho
PARIS, July 26 (Reuters) - Vacation rentals company Airbnb (ABNB.O) said on Wednesday that it had noted an "exceptional level" of demand for properties in the greater Paris region, known as Ile-de-France, just a year ahead of next year's Olympics in the city. Airbnb said searches for properties in the greater Paris region were up by 30% in the second quarter versus the first quarter. Reporting by Sudip Kar-Gupta; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.
Persons: Airbnb, Sudip Kar, Jason Neely Organizations: Thomson Locations: Paris, de, France
July 24 (Reuters) - Adobe's (ADBE.O) $20 billion bid for cloud-based designer platform Figma will face a full-scale EU antitrust investigation following EU regulators' preliminary review, people familiar with the matter said on Monday. The move underscores antitrust watchdogs' wariness of tech deals where bigger companies may acquire rival start-ups to shut them down. The European Commission earlier this year warned of the threat the deal poses to competition in the market for interactive product design and whiteboarding software. The EU competition enforcer, which is scheduled to finish its initial scrutiny by Aug. 7, did not immediately respond to a request for comment. Figma's Web-based collaborative platform for designs and brainstorming is hugely popular among tech firms including Zoom Video Communications (ZM.O), Airbnb (ABNB.O) and Coinbase (COIN.O).
Persons: Foo Yun Chee, Matthew Lewis Organizations: European, EU, Adobe, Zoom Video Communications, Thomson Locations: Brussels
LVMH strikes Paris Olympic Games sponsorship deal
  + stars: | 2023-07-24 | by ( ) www.reuters.com   time to read: +2 min
PARIS, July 24 (Reuters) - Luxury giant LVMH (LVMH.PA) unveiled on Monday a deal to sponsor next year's Olympic Games in Paris with top fashion brands Louis Vuitton and Dior, Moet Hennessy champagne and spirits labels and jeweller Chaumet, which will design medals for the event. The group will also sponsor athletes, including French swimmer Leon Marchand, and its beauty retailer Sephora will sponsor the Olympic torch relay, LVMH said. Terms of the deal, which was negotiated by Antoine Arnault, one of the five children and heirs of LVMH Chairman and CEO Bernard Arnault, were not revealed. "The Games are an opportunity to make France shine," Antoine Arnault said as he made the official announcement. The run-up to an Olympic Games can become mired in global geo-politics and controversies over domestic matters can attract scrutiny, such as China's rights record ahead of the Beijing Games.
Persons: Louis Vuitton, Dior, Moet Hennessy, Chaumet, Leon Marchand, LVMH, Antoine Arnault, Bernard Arnault, Mimosa Spencer, Silvia Aloisi, Tomasz Janowski, Richard Lough Organizations: Louis, Olympic, Beijing Games, HK, Toyota, Thomson Locations: Paris, France, Belarus
UK announces in-depth probe of Adobe's $20 billion Figma deal
  + stars: | 2023-07-13 | by ( ) www.reuters.com   time to read: +1 min
July 13 (Reuters) - Britain's antitrust regulator on Thursday announced an in-depth probe of Adobe's (ADBE.O) $20 billion bid for cloud-based designer platform Figma, after the Photoshop owner said it would not offer any remedies to ease the regulator's concerns. But on July 7, the U.S. company told the CMA it would not offer any remedies, the CMA said on Thursday. Figma and Adobe both directed Reuters to the companies' response in June, when the regulator had flagged these concerns. An in-depth, or phase two, probe by the CMA is conducted by an inquiry group selected from independent experts. It has said it expects to close the deal by end of this year, as U.S. and EU regulators also probe the deal.
Persons: Yadarisa, Chavi Mehta, Nivedita Bhattacharjee, Mark Potter Organizations: Markets Authority, U.S ., CMA, Adobe, Reuters, Zoom Video Communications, Figma, Thomson Locations: U.S, EU, Bengaluru
Unlike past tech booms that have touched San Francisco, the generative AI craze brings fewer jobs, because AI firms excel at staying lean and automating work. "I think we should curb our optimism that San Francisco commercial real estate will bounce back because of AI," said Silicon Valley investor Jeremiah Owyang. Eleven of the country's top 20 AI companies are in San Francisco and have raised $15.7 billion collectively between 2008 and 2023. That amount is just 2.3% of the estimated 150,000 daily workers that downtown San Francisco lost during the pandemic. Reporting by Anna Tong in San Francisco; Editing by Sayantani Ghosh, Anna Driver and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.
Persons: Carlos Barria, San, Jeremiah Owyang, Erin Price, Wright, OpenAI, Matt Schlicht, Mike Grabowski, Grabowski, Owyang, Lee Edwards, Daron Acemoglu, Anna Tong, Sayantani Ghosh, Anna Driver, Matthew Lewis Organizations: Intelligence, REUTERS, FRANCISCO, Reuters, Francisco, San Francisco Mayor London Breed's, San, Microsoft, Octane, Google, Nordstrom, Massachusetts Institute of Technology, Thomson Locations: San Francisco, California, U.S, Valley, NFX, Dubai
MEXICO CITY, July 11 (Reuters) - Brazilian financial technology company Ebanx said on Tuesday it has signed a deal to partner with digital bank Nubank to offer more payment services for customers as it tries to consolidate and expand operations in Latin America. Ebanx will now offer corporate customers the option of paying via NuPay, an alternative payment method developed by Nubank for international purchases. Alternative payment methods have helped drive the growth of e-commerce in Latin America and already account for 39% of the total digital commerce volume in the region, Ebanx said. In April last year, Ebanx announced a partnership with digital commerce platform VTEX (VTEX.N) to enable cross-border payments to Brazilian companies operating in Latin America. Ebanx also plans to kick off operations in eight African countries by the end of the year, the company said in a statement.
Persons: Ebanx, Paula Bellizia, Matthew Lewis Organizations: MEXICO CITY, Nubank, Reuters, Carolina, Thomson Locations: MEXICO, Latin America, NuPay, Mexico
"I’m not really raising the money just because we need the money," Wernick said in an interview. Wernick said BitChute was pursuing a combination of high net-worth individuals and venture capital funds. He has an equity stake in BitChute and is also an investor in Parler, Gab, Airbnb (ABNB.O) and Uber (UBER.N). Its investor presentation said BitChute had 218 million unique visitors in 2022, down 15.8% from 2021, with a projection of 247 million unique visitors this year. Their longer-term goal is to “decentralize” BitChute, so that it is blockchain-based and users can decide whether to have content moderation.
Persons: Jeffrey Wernick, I’m, Wernick, BitChute, Patrick Dai, Matthew Branton, cofounders Ray Vahey, Rich Jones, , Helen Coster, Krystal Hu, Jane Merriman Organizations: YORK, Reuters, Inc, YouTube, Thomson Locations: BitChute, Parler, New York
BRUSSELS, July 3 (Reuters) - EU antitrust regulators will decide by Aug. 7 whether to clear Adobe's (ADBE.O) $20 billion bid for cloud-based designer platform Figma after a preliminary review, according to a European Commission filing on Monday. Photoshop maker Adobe sought EU approval last Friday. A request made a month before the summer holidays suggests the company expects the EU competition enforcer to open a full-scale investigation following its initial scrutiny. The Commission earlier this year warned the deal threatens to significantly affect competition in the market for interactive product design and whiteboarding software. Britain's competition watchdog on Friday gave Adobe a week to offer remedies to address its concerns or face a deeper investigation.
Persons: Foo Yun Chee, Marguerita Choy Organizations: Adobe, Zoom Video Communications, Thomson Locations: BRUSSELS
Gary Black says the stock market will continue to trend higher with volatility this year. What the remainder of 2023 has in store for the stock market is anyone's guess at this point. But Gary Black, a 20-year fund manager, and the portfolio manager and managing partner at The Future Fund, has a more positive outlook. The next mega trend is big data and cyber security. mega trend losersOn the side of stocks being shorted, these are the companies that Black expects will lose market share due to these mega trends.
Persons: Gary Black, Phillip Wool, it's, Black, He's, cybertruck, Tesla, Elon Musk, Eli Lilly, Lilly, LULU, Armour Organizations: Federal, Federal Reserve, EV, Tesla, Company, Palo Alto Networks, Nvidia, Toyota, CNBC, Bloomberg, UA, MAX Holdings Locations: China's, overproducing
June 14 (Reuters) - Ticketmaster and other companies have agreed to offer consumers upfront, all-in pricing, the White House announced as it convened a meeting on Thursday to highlight efforts to crack down on so-called junk fees. President Joe Biden hosted a meeting at the White House of private companies - including Live Nation's (LYV.N) Ticketmaster, SeatGeek and Airbnb (ABNB.O) - which have committed to fully disclose fees to consumers upfront. It is part of Biden's broader effort to crack down on junk fees imposed by ticket companies, banks, airlines and other industries. Biden said he was focused on companies that slapped fees onto purchases at the end of the billing process, after consumers had done their comparison price shopping. Biden has called on Congress to pass legislation that mandates upfront, all-in pricing for all ticket sellers, bans surprise resort fees charged by hotels, eliminates early termination fees charged by cable, internet, and cellphone companies, and bans family seating fees on airlines.
Persons: Joe Biden, Biden, Richard Blumenthal, Jarrett Renshaw, Mary Milliken, Stephen Coates, Jonathan Oatis Organizations: Ticketmaster, White, Ticketmaster Coalition, U.S, Department, Thomson
June 15 (Reuters) - Adobe Inc (ADBE.O) surpassed Wall Street estimates for quarterly results and forecast on Thursday as the Photoshop maker's efforts to drive up demand with generative artificial intelligence (AI) integrations paid off. Adobe's spree to boost AI innovation has been evident by AI features being introduced into Acrobat, Express, Photoshop and Premiere Pro. Analysts see generative AI as both a near- and long-term benefit to both the creative and experience businesses, which could be a catalyst to 2024 revenue growth. Focus continues to remain on the impact of generative AI and the pending close of the Figma deal. Adobe has been waiting to finalize its $20 billion buyout deal for the cloud-based designer platform, with management expecting an initial ruling this month.
Persons: integrations, Dan Durn, Samrhitha, Pooja Desai Organizations: Adobe Inc, Acrobat, Adobe, Users, Reuters, Analysts, Zoom Video Communications, Airbnb Inc, Revenue, Thomson Locations: San Jose , California, Bengaluru
CompaniesCompanies Law Firms Airbnb Inc FollowNEW YORK, June 12 (Reuters) - The City of New York will delay enforcing a new municipal law that Airbnb Inc (ABNB.O) said could limit the number of people who can host rentals in the city, a Friday court filing showed. Under the law, hosts must be permanent occupants of the units being rented and must register with the Mayor's Office of Special Enforcement (OSE) before posting rentals. The office of New York City Mayor Eric Adams did not immediately respond to a request for comment. Airbnb said that in the first week of July, more than 5,500 short-term rentals are reserved to host more than 10,000 guests in New York City. The case is Airbnb Inc. v New York City Mayor's Office of Special Enforcement in New York State Supreme Court in Manhattan.
Persons: Eric Adams, Airbnb, Karen Dunn, Paul, Weiss, Doyinsola Oladipo, Richard Chang Organizations: Airbnb, Mayor's, Special Enforcement, New York City, Inc, New York, New York City Mayor's Office, Enforcement, Court, Thomson Locations: New York, New York City, Manhattan
France plans to close tax loophole benefiting AirBnB
  + stars: | 2023-06-09 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Charles Platiau/File PhotoPARIS, June 9 (Reuters) - France's finance ministry is working on plans to close a tax loophole benefiting short-term furnished rentals such as AirBnB (ABNB.O), Finance Minister Bruno Le Maire said on Friday. A trio of cross-party lawmakers last month called for rules regulating such rentals to be tightened and for an end to the more favourable tax treatment such rentals receive vis a vis normal long-term rentals. "I have a hard time understanding the very favourable tax treatment for AirBnB. We are going to reform the tax rules and I will make proposals," Le Maire said on BFM TV. "When a windfall gets too big and tax is too favourable, there is no reason to keep such tax treatment that leads to excess," he added.
Persons: Charles Platiau, Bruno Le Maire, Le Maire, pollsters, Le Maire's, Leigh Thomas, Elizabeth Pineau, Louise Heavens Organizations: La Defense, REUTERS, Finance, Thomson Locations: La, Paris, France
[1/2] A view shows the Ponte Vecchio bridge and the Arno River in Florence October 16, 2014. The Ponte Vecchio, or Old Bridge, crosses the River Arno at its narrowest point. REUTERS/Regis DuvignauROME, June 1 (Reuters) - Florence wants to ban residential properties in its historic centre from being used for short-term rentals by platforms such as Airbnb (ABNB.O) in order to free up more homes for local people in the Tuscan city. Nardella is a member of the centre-left Democratic Party (PD), which is part of the opposition at national level. Airbnb did not immediately comment on Nardella's initiative, but said in a statement that it wanted to see "clear and simple national rules" in Italy.
Persons: Regis Duvignau ROME, Dario Nardella, Federica Urso, Federico Maccioni, Keith Weir, Crispian Balmer Organizations: REUTERS, Democratic Party, Thomson Locations: Florence, Ponte, Tuscan, Nardella, Italy, Rome, Milan
City councils around the United States are increasingly introducing ordinances to regulate short-term rentals, which in some cases will require hosts to obtain licenses and pay registration fees or limit the number of short-term rentals in business districts. The short-term rental company is requesting that the court blocks the enforcement of "Local Law 18". Airbnb said that in the first week of July, more than 5,500 short-term rentals are reserved to host more than 10,000 guests in New York City. The company said in the filing a previous law which went into effect in 2021 prompted 29,000 hosts to leave the short-term rental market in New York. Airbnb’s annual net revenue in New York City in 2022 was $85 million, according to the filling.
Persons: Airbnb, Doyinsola Oladipo Organizations: Airbnb, New York, New, New York City Mayor's Office, Special Enforcement, Thomson Locations: New York City, City, United States, New York's, New York
Total: 25