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Airbnb will push rooms as low-cost option to house rentals

DALLAS (AP) — Airbnb is making a renewed push into renting single rooms in a nod to its beginnings and a realization that renting an entire house is too expensive for many travelers, especially younger ones. The short-term rental company rolled out a new offering Wednesday that it calls Airbnb Rooms. Guests can rent a room in the same house or apartment as their host at prices that Airbnb says will average $67 a night. “It is an admission that travelers care more about affordability than they did a year ago,” said CEO Brian Chesky. Airbnb has always listed single rooms in ...

Musk threatens to reassign account

WASHINGTON (AP) — Elon Musk threatened to reassign NPR’s Twitter account to “another company,” according to the non-profit news organization, in an ongoing spat between Musk and media groups since his $44 billion acquisition of Twitter last year. “So is NPR going to start posting on Twitter again, or should we reassign @NPR to another company?” Musk wrote in one email late Tuesday to NPR reporter Bobby Allyn. NPR stopped tweeting from its main account after Twitter abruptly labeled NPR’s main account as “ state-affiliated media “ last month, a term that’s also ...

Stock market today: Wall Street drops as banks tumble

NEW YORK (AP) — Stocks slumped Tuesday after shares of beleaguered banks tumbled again and worries worsened about the economy. Rising fear sent yields sinking in the bond market, while Wall Street waited for the Federal Reserve’s latest move on interest rates and Washington edges closer to what would be a catastrophic default on U.S. government debt. The S&P fell 1.2% after paring a steeper loss. The Dow Jones Industrial Average dropped 367 points, or 1.1%, after earlier being down as many as 615 points. The Nasdaq composite sank 1.1%. Some of the sharpest drops came from smaller- ...

Bank stocks continue to fall following First Republic demise

NEW YORK (AP) — Regulators have barely written the epitaph for First Repbulic Bank, but investors on Wall Street have already moved onto speculating which bank might be the next to fail. Bank stocks fell sharply Tuesday, led downward by smaller banks with heavy exposure to uninsured deposits and commercial banks such as Western Alliance Bank, PacWest Bancorp, Comerica and Zions Bank. Shares of Western Alliance dropped 17% in afternoon trading and PacWest fell 25%, with trading of both stocks halted briefly due to high volatility. The second day of bank stock declines comes after ...

Lyft’s new CEO tackles a job requiring some heavy lifting

SAN FRANCISCO (AP) — Even before he joined Lyft’s board in 2021, David Risher had taken hundreds of trips as a passenger so he felt like he knew a lot about the ride-hailing service. But he never expected to be thrust into the driver’s seat at a time when Lyft was running like a jalopy. “I really was gobsmacked,” Risher said during an interview with The Associated Press as he recalled being recently asked to replace Lyft co-founder Logan Green as CEO. Risher quickly shook off his initial shock and is now making an effort to reverse the San Francisco company’s mounting ...

Colliers, Travere fall short; Molson Coors, Marriott rise

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Tuesday: Consol Energy Inc., up $3.78 to $63.90. The coal company reported encouraging first-quarter financial results. Colliers International Group Inc., down $10.84 to $94.45. The commercial real estate service provider’s first-quarter profit and revenue fell short of analysts’ forecasts. LGI Homes Inc., down $3.38 to $115.17. The homebuilder’s first-quarter profit missed Wall Street forecasts. Molson Coors Brewing Co., up $4.63 to $65.08. The brewer of Molson and Coors beer reported ...