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Airbnb fights BC short term rental legislation

Following British Columbia introducing new legislation to restrict short-term rentals, Airbnb (NASDAQ: ABNB) seems to be fighting back. The online platform is actively sending emails to Airbnb hosts for ways on how they can contact their respective MLAs to “ask them to protect your right to host.”

The email also warns the hosts that the legislation would require platforms like Airbnb to “share your personal information and data with the province,” and would “[introduce] a provincial registration system on top of any existing municipal licencing.”

“Importantly, the government is classifying short-term rentals as any rental less than 90 days,” said the email as seen in a screenshot. “This will impact hosts who share their homes on a more extended basis and will make it more difficult for those who travel for work, including healthcare, construction and contract workers, students, and those travelling to access healthcare to find a longer-term place to stay.”

You can read more on the matter here.

What’s going on?

• Doug Ford Begs Bank of Canada Again To Stop Interest Rate Hikes (theDeepDive)

• Toyota Said To Be Close To Mass Production Of Solid State Batteries (theDeepDive)

• Japan Investigates Google Over Alleged Antitrust Violations (Bloomberg)

• Going Infantile: Lewis Faces Backlash For a Book that Isn’t Black And White (theDeepDive)

• Another Strike: St Lawrence Seaway Latest Union To Take Strike Action (theDeepDive)

• Alex Jones Must Pay Sandy Hook Families $1 Billion Despite Bankruptcy (theDeepDive)

• EU lawmakers face struggle to reach agreement on AI rules (Reuters)

• Jon Stewart Walks Away From Apple After Being Censored (theDeepDive)

• Metro Sues Loblaws Over Price Fixing Claims (theDeepDive)

• Bond Rout Drives 10-Year Treasury Yield to 5% (WSJ)

What’s the latest?

• Oil Consolidation: Chevron has agreed to acquire U.S. rival Hess in a $53 billion stock deal, as part of its strategy to secure future fossil fuel assets with lower risk and provide better returns for shareholders. The deal also makes Chevron a partner with Exxon in Guyana's burgeoning oilfields, expected to produce 1.2 million barrels of oil per day by 2027.

• Greenbelt Problems: Ontario has introduced legislation to return land to the Greenbelt while simultaneously aiming to shut down a developer's $120-million lawsuit that began before the Progressive Conservatives took office. The bill, titled the Greenbelt Statute Law Amendment Act, seeks to prevent landowners whose Greenbelt properties were selected for housing development from taking future legal action against the government and government staff.

• UAW Strikes: The UAW has expanded its strike to hit Stellantis's largest assembly plant, affecting the production of RAM 1500 pickup trucks. Over 6,800 workers at a Michigan truck plant have joined the strike. This move expands the strike, which began more than a month ago, to over 40,000 union members at Ford, General Motors, and Stellantis.

• Argentina Elections: Argentina's ruling Peronist coalition led the country's general election, setting the stage for a polarized run-off vote next month between Economy Minister Sergio Massa and far-right libertarian radical Javier Milei. Massa had 36.6% of the vote, ahead of Milei on just over 30%, while conservative Patricia Bullrich was behind on 23.8% with near 98% of the vote counted.

• Geopolitics: Tensions have escalated in the South China Sea as the Philippines accuses Chinese coastguard vessels of intentionally colliding with its vessels on a resupply mission near the disputed Second Thomas Shoal. This incident marks the most serious confrontation yet in the disputed waters. The Philippines, backed by the United States, condemned China's actions as a serious escalation of illegal activities.

Hasan Minhaj's Fabricated Stories

The stock market and stuff

• Disney Said to Near Multibillion-Dollar Deal With Reliance (Bloomberg)

• ‘I Wouldn’t Do It’: Nvidia CEO On If He Would Start the Company Again (theDeepDive)

• Chevron to buy Hess Corp for $53 billion in all-stock deal (Reuters)

In the juniors

• New Found Gold Expands Golden Joint Zone To Surface With 66.16 g/t Gold Over 2.65 Metres Intercept (theDeepDive)

• Ambrx Biopharma falls after Phase 1/2 data for prostate cancer therapy (SA)

• Forum Energy Metals Hits 4.36% U3O8 Over 1.3 Metres (theDeepDive)

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