Day: May 23, 2022

Airbnb is closing its domestic business in China, sources say

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Nathan Blecharczyk, co-founder and chief strategy officer of Airbnb Inc., speaks during a news conference in Tokyo, Japan, on Thursday, June 6, 2019. Akio Kon | Bloomberg | Getty Images Airbnb is closing its domestic business in China, according to two sources familiar with the matter. The company is planning to tell employees in the country as early as Tuesday morning in Beijing.  All mainland Chinese listings — homes and experiences — will be taken down by this summer. Airbnb formally launched its mainland China business in 2016 and has…

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Tax breaks aren’t prime reason for high-net-worth philanthropy, study finds

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Maria Teijeiro | OJO Images | Getty Images Tax breaks aren’t the primary incentive for philanthropy among the ultra-wealthy, according to BNY Mellon Wealth Management’s inaugural Charitable Giving Study.   The report, polling 200 individuals with wealth ranging from $5 million to more than $25 million, found the top three motivators were personal satisfaction, connection to a cause or organization and a sense of duty regarding giving back. By contrast, tax benefits ranked among the bottom three reasons for donating money to charity, the findings show. More from Personal Finance:Buyers make…

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Monkeypox outbreak is primarily spreading through sex, WHO officials say

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An outbreak of the monkeypox virus in North America and Europe is primarily spreading through sex among men with about 200 confirmed and suspected cases across at least a dozen countries, World Health Organization officials said Monday. The outbreak has quickly advanced across Europe and North America over the last week and is expected to be far more widespread as more doctors look for the signs and symptoms. Two confirmed and one suspected case of monkeypox in the U.K. were reported to the WHO just 10 days ago, the first…

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Klarna to lay off 10% of its workforce as souring economy hits buy now, pay later space

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Buy now, pay later products like Klarna’s became wildly popular in the Covid pandemic. Noam Galai | Getty Images Klarna plans to lay off about 10% of its global workforce, making the buy now, pay later firm the latest major tech company to announce job cuts. Sebastian Siemiatkowski, Klarna’s CEO and co-founder, made the announcement to his employees in a pre-recorded video message Monday. The “vast majority” of Klarna employees won’t be impacted by the measures, he said, however some “will be informed that we cannot offer you a role…

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FDA panel sets June 15 meeting on Pfizer, Moderna Covid vaccines for infants and toddlers

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Bridgette Melo, 5, prepares for her inoculation of one of two reduced 10 ug doses of the Pfizer BioNtech COVID-19 vaccine during a trial at Duke University in Durham, North Carolina September 28, 2021 in a still image from video. Shawn Rocco | Duke University | via Reuters The Food and Drug Administration’s expert committee will meet on June 15 to review new data on Pfizer and Moderna‘s Covid vaccines for infants and toddlers, setting the stage for the shots to receive authorization early this summer. “We know parents are…

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Stocks making the biggest moves midday: JPMorgan Chase, Gap, VMWare & more

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People pass the JP Morgan Chase & Co. Corporate headquarters in the Manhattan borough of New York City. Mike Segar | Reuters Check out the companies making headlines in midday trading. JPMorgan Chase – JPMorgan rose 7% after the bank said it expects to reach key return targets sooner than planned thanks to rising interest rates giving its lending business a boost. Other banks were also among the top gainers Monday. Citi and Bank of America got a 6% boost each, and Wells Fargo added 5%. Banks tend to benefit from rising…

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