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The Airbnb logo on a tablet screen. Photo: Martin Bureau/AFP/Getty Images

Amid plans to go public in 2020, Airbnb is still sparring with New York City in its latest battle over illegally listed short-term rentals, Bloomberg reports.

Why it matters: Investors want the company "to sort things out with New York" before filing for its IPO, according to Bloomberg — but "Airbnb has been at odds with New York for almost its entire existence."

By the numbers: Airbnb, which operates in more than 500 cities around the world, says that New York currently represents 1% of the company's revenue. The city generates roughly $70 million of Airbnb's $5 billion in annual global revenue, a person familiar with the situation told Bloomberg.

What to watch: New York lawyers and Airbnb will meet on Sept. 27 to discuss the company's latest lawsuit against the city, which could end with the San Francisco tech company being forced to hand over hosts' names and addresses each month.

  • That would allow New York to fine those breaking the law, and potentially let Airbnb "legitimize its market in New York and soothe investors worried about greater upheaval," per Bloomberg.

What they're saying: “New York is a marathon and not a sprint. We will ultimately get across the finish line," Airbnb’s global head of policy, Chris Lehane, told Bloomberg.

  • “This issue festered and festered and has gotten to a point now that Airbnb has lost all political leverage,” venture capitalist and former political strategist Bradley Tusk told Bloomberg. “Can you ring the bell in a city where you’re not legal? It would be pretty damn awkward.”

Go deeper: Airbnb highlights S.F. growth after implementing host registration

Go deeper

23 mins ago - World

G7 leaders agree to call out China's “nonmarket policies and human rights abuses"

President Biden and first lady Jill Biden arrive at Cornwall Airport Newquay to give a press conference on the final day of the G7 summit on June 13, 2021. Photo: Brendan SMIALOWSKI / AFP via Getty Images

Group of Seven leaders on Sunday announced they have agreed work together to challenge China’s “non-market economic practices” and to press Beijing to respect human rights in Hong Kong and Xinjiang.

Why it matters: President Biden went into the summit hoping to present a united front against Beijing.

Study: Key Antarctic ice shelf is speeding up its collapse

Pine Island Glacier calves several new icebergs on Feb. 11, 2020, as seen via satellite. Photo: NASA Earth Observatory

The Pine Island Glacier on the West Antarctic Ice Sheet is responsible for more than a quarter of Antarctica's contribution to global sea level rise over the past decades. Now, a new study shows it is more vulnerable to rapid melting than thought, because climate change is weakening its natural braking system.

Why it matters: At stake is the future of a glacier containing about 160 trillion tons of ice, which if it were all to melt into the ocean would cause about 1.6 feet of global sea level rise.

Felix Salmon, author of Capital
4 hours ago - Economy & Business

Workers are taking power back

Illustration: Aïda Amer/Axios

American workers have been losing power since 1980 — but now the tables are turning.

Why it matters: The 2010s gave us the gig economy and left millions of workers stranded seemingly forever on the precipice of financial ruin. The 2020s could be the decade when workers seize back the reins of power.