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Airbnb

Home-sharing company Airbnb is in talks to acquire Luxury Retreats, a Montreal-based high-end rentals company, as Bloomberg first reported and Axios has also heard from a source familiar with the deal.

The details: Airbnb is expected to pay somewhere "in the $200 millions," the source tells Axios, and the deal will reportedly to be approved by Airbnb's board this week, according to Bloomberg. Luxury Retreats' Canada-based jobs will remain there, and the company is reportedly profitable.

Backstory: The acquisition follows a meeting between Airbnb and Canada's ambassador to the U.S. last year, during which he encouraged the company to invest more heavily in creating jobs in Canada, said the source.

Why it matters: Luxury Retreats, which operates in 90 markets worldwide, will nicely extend Airbnb's footprint in high-end vacation rentals. This will also let Airbnb tap into a clientele that is likely to pay for tourism services, which Airbnb began to offer in November. Luxury Retreats already provides its customers with a concierge service for booking services like private chefs and massages, which Airbnb is reportedly eager to incorporate into its own service, according to Bloomberg. As Airbnb slowly inches toward an eventual IPO, additional revenue sources like tourism services will play an important role in showing that it's more than a home-sharing company.

Go deeper

Ben Geman, author of Generate
5 hours ago - Energy & Environment

Key clean power provision likely won't survive in Dems' spending bill

A construction worker walks along a dirt road at the Avangrid Renewables La Joya wind farm in Encino, New Mexico, on Aug. 5, 2020. Photo: Cate Dingley/Bloomberg via Getty Images

A pillar of Democrats' plans to speed deployment of zero-carbon electricity is likely to be cut from major spending and tax legislation they are struggling to move on a party-line vote, per multiple reports and a Capitol Hill aide.

Driving the news: The New York Times, citing anonymous congressional aides and lobbyists, reports that West Virginia Sen. Joe Manchin (D) has told the White House he "strongly opposes" the Clean Electricity Performance Program.

Updated 7 hours ago - World

Fatal stabbing of British MP David Amess declared a terrorist incident

Police outside Belfairs Methodist Church in Leigh-on-Sea, England, on Oct. 15. Photo: John Keeble/Getty Images

Authorities have declared the death of David Amess a terrorist incident, hours after the Conservative Party lawmaker in the U.K. was fatally stabbed while meeting with local constituents in a church in eastern England on Friday.

The big picture: The Metropolitan Police has found "a potential motivation linked to Islamist extremism."

Biden: DOJ should prosecute those who defy Jan. 6 subpoenas

President Biden speaks with reporters at Bradley International Airport in Windsor Locks, Connecticut. Photo: Brendan Smialowski/AFP via Getty Images

President Biden said Friday that the Justice Department should prosecute those who defy subpoenas from the Jan. 6 select committee.

Why it matters: The president's remarks come one day after Donald Trump ally Steve Bannon failed to show up for a deposition before the committee.