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Airbnb shuts down its domestic rentals in China

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2 years ago

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Many tourists and locals turn to Airbnb as an alternative to hotels but not anymore in China

This comes as China tackles its “zero-Covid” policy, with lockdowns ongoing.

All listings for homes and experiences in the country will be removed from the company’s website by summer.

Although China is the most populated country in the world, stays within China made up only 1% of Airbnb’s revenue over the last few years.

The domestic rental operation for travellers visiting China has been complicated and expensive to run even before the pandemic.

The company is expected to instead focus on Chinese residents travelling abroad to other destinations.

Before the pandemic, data shows Chinese travellers heading abroad had tripled in less than a decade.

But for the past two years, China has had some of the toughest Covid restrictions in the world, with strong criticism from the west on its harsh lockdowns of residents.

This follows on from Airbnb’s shut down of operations in Russia and Belarus in April.

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What to expect for IPO markets

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21 hours ago

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September 13, 2024

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With high interest rates and geopolitical uncertainty–what’s in store for IPO markets?

As the second half of 2024 begins, the IPO market is poised for a potential rebound after a sluggish start to the year.

With improving economic conditions and renewed investor confidence, more companies seem to be considering going public, creating market optimism.

However, challenges such as inflation and geopolitical uncertainties remain key factors to watch.

Dean Quiambao, a partner at Armanino joins Veronica Dudo to discuss what experts are predicting for the IPO landscape in the coming months and how businesses are positioning themselves for success.

#IN AMERICA TODAY #trending #IPO #IPOmarkets #ratecuts

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ASX positioned for strong start after positive stock rebound

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4 days ago

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September 10, 2024

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The ASX is set for a solid opening today, bolstered by overnight gains in the banking, commodities, and energy sectors.

Despite these positive movements, analysts are suggesting that the stock rebound and bond decline appear to be technically driven, noting that it may not mark the beginning of a longer-term trend.

Market analyst David Scutt from StoneX joins to discuss the latest market movements. #featured #trending

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Elon Musk is projected to become the world’s first trillionaire

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4 days ago

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September 9, 2024

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Elon Musk, the visionary entrepreneur behind Tesla and SpaceX, is projected to achieve an unprecedented financial milestone by becoming the world’s first trillionaire by 2027.

Currently the richest person alive, Musk holds a staggering net worth of $251 billion, with Tesla playing a major role in his fortune.

At this rate, experts predict his wealth could skyrocket, reaching the trillion-dollar milestone in just three years.

Tesla itself is growing at a remarkable pace, with a market value nearing $670 billion. #featured #trending

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