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Airbnb, NYC agree to end their fight over host data-sharing

13Jun By AnkitaNo Comments

USA

Airbnb, NYC agree to end their fight over host data-sharing

New York, Jun 12, 2020 (AP): Airbnb and New York City will settle their fight over a law that sought to limit housing rental increases by requiring short-term rental platforms to share information about their listings, the two sides announced Friday. Under the agreement, the San Francisco-based Airbnb will dismiss its federal lawsuit against the city and the New York City Council will amend a 2018 law that required home-sharing platforms to provide detailed data on all their listings. Under the amended law, home-sharing companies will still be required to provide information including addresses and names of hosts, but the law will apply only to listings that offer an entire home or that allow three or more guests to stay at one time.The data will have to be provided on a quarterly b...

NYC could lose 475,000 jobs, $9.7 bn in tax revenue

New York City could lose 475,000 jobs over the 12 months, the worst it has faced since the early 1970s, and experience a shortfall of USD 9.7 billion in tax revenue due to the COVID-19 pandemic, a report by New York City Independent Budget Office (IBO) said. In a fiscal brief issued Wednesday, the budget office said the COVID-19 pandemic and the public health restrictions imposed to help limit the spread of infections have delivered a severe blow to the economy, leading to very large and abrupt job losses that are unprecedented in their scope and pace. Given the staggering job losses, IBO said it assumes that the US economy has entered a recession even though official statistics have not yet captured the scenario. In a pared-down economic forecast, IBO projected that that the loc...

Tumblr Relocates offices to Yahoo’s Headquarters

Yahoo is making sure that Tumblr, the company they acquired in 2013 for $1.1 billion, will adapt to the culture of the previously most popular search engine by welcoming them in their New York headquarters. Indeed, the integrality of Tumblr’s New York City headquarters staff is set to be transferred in Yahoo’s Midtown Manhattan office. Several Tumblr employees confirmed the news under anonymity and their NYC office in the Flatiron district will be no more than a memory coming the end of this month. “We are looking forward to Tumblr’s move to Oath’s NYC headquarters,” said Simon Khalaf, Oath’s head of media and products. “It’s a natural progression for us to bring the Oath family of brands together as we continue to foster collaboration and build brands people love.” Tumblr’s purch...