Airbnb CEO Brian Chesky onstage at the Code Conference. Photo: Asa Mathat for Vox Media

Airbnb will be ready to go public next year, CEO Brian Chesky said Wednesday, though he's not sure it will. "I want to make sure it is a major benefit to the company if we do... It could happen," he said at the Code Conference in Palos Verdes, Calif.

Backstory: A few months ago, amid the departure of finance chief Laurence Tosi, Chesky shut down rumors that the home-sharing company was planning to go public in 2018.

Changing the ratio: Chesky said he wants to add at least one woman (its first) to Airbnb's board of directors and two or three independent members. Earlier this year, former American Express CEO Ken Chenault joined as its first independent board member.

Long road: Echoing previous comments, Chesky explained that although New York City is small in terms of business for Airbnb, the company is committed to working out its regulatory differences there, because 50,000 hosts depend on the service for additional income. And while back in 2010 he believed the issues would be resolved within a year, it's now clear that will take several more years.

Ambitions: Shedding some light on how Airbnb wants to become a full-fledged travel company, Chesky said that he wants to expand into a variety of services, from groceries to content. In some areas the company will partner with others, as it has done with restaurant reservation service Rezi. In other areas, it will build its own service.

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Jeff Sessions loses Alabama Senate primary runoff

Jeff Sessions. Photo: Michael DeMocker/Getty Images

Former Attorney General Jeff Sessions has lost the Republican nomination for Senate to Tommy Tuberville in Alabama in Tuesday night’s primary runoff, AP reports.

Why it matters: Sessions had been the underdog in the race against former Auburn University head football coach Tommy Tuberville, who had the backing of President Trump. Tuberville will now face off against Sen. Doug Jones (D-Ala.) in November, who is considered to have one of the most vulnerable Democratic Senate seats in the country.

Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 13,273,537 — Total deaths: 577,006 — Total recoveries — 7,367,106Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 3,424,304 — Total deaths: 136,432 — Total recoveries: 1,049,098 — Total tested: 41,764,557Map.
  3. Politics: Biden welcomes Trump wearing mask in public but warns "it’s not enough"
  4. Public health: Four former CDC heads say Trump's undermining of agency puts lives at risk — CDC director: U.S. could get coronavirus "under control" in 4–8 weeks if all wear masks.

Bank CEOs brace for worsening economic scenario

JPMorgan CEO Jamie Dimon. Photo: J. Lawler Duggan/For The Washington Post via Getty Images

Wells Fargo swung to its first loss since the financial crisis — while JPMorgan Chase and Citigroup reported significantly lower profits from a year earlier — as the banks set aside billions of dollars more in the second quarter for loans that may go bad.

Why it matters: The cumulative $28 billion in loan loss provisions that banks have so far announced they’re reserving serves as a signal they’re preparing for a colossal wave of loan defaults as the economy slogs through a coronavirus-driven downturn.