Photo Illustration: Thomas Trutschel/Photothek via Getty Images

After recently allowing all customers to cancel reservations due to the coronavirus pandemic, Airbnb says it will spend $250 million to refund 25% of the cancellation fees that hosts would have otherwise received depending on their select policy. It also created a $10 million relief fund for select hosts, which includes $9 million donated by Airbnb's founders.

The big picture: Airbnb has been in the unpleasant position of having to please both sides of its marketplace, while also managing its own finances. It recently cut marketing spend to save $800 million, among other moves, as its business takes a huge hit, a source tells Axios.

Go deeper: The gig economy's coronavirus test

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Amy Harder, author of Generate
5 hours ago - Energy & Environment

Climate change goes mainstream in presidential debate

Photo illustration: Aïda Amer/Axios. Photo: Olivier Douliery-Pool/Getty

The most notable part of Thursday’s presidential debate on climate change was the fact it was included as a topic and assumed as a fact.

The big picture: This is the first time in U.S. presidential history that climate change was a featured issue at a debate. It signals how the problem has become part of the fabric of our society. More extreme weather, like the wildfires ravaging Colorado, is pushing the topic to the front-burner.

Finally, a real debate

Photo: Morry Gash/AP

A more disciplined President Trump held back from the rowdy interruptions at tonight's debate in Nashville, while making some assertions so outlandish that Joe Biden chuckled and even closed his eyes. A Trump campaign adviser told Axios: "He finally listened." 

The result: A real debate.

Biden to Trump: "I have not taken a penny from any foreign source ever in my life"

Former VP Joe Biden pushed back Thursday against allegations from President Trump, saying he had never profited from foreign sources. "Nothing was unethical," Biden told debate moderator Kristen Welker about his son Hunter's work in Ukraine while he was vice president.

Why it matters: Earlier on Thursday, Hunter Biden's former business partner, Tony Bobulinski, released a statement saying Joe Biden's claims that he never discussed overseas business dealings with his son were "false."