Airbnb Shares Drop Over 7% Amid Slower Growth Outlook and Travel Demand Concerns

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Airbnb’s shares fell more than 7% on Thursday after the company projected slower growth in the second half of the year, raising concerns about a potential travel demand slowdown. This came as a disappointment to investors who had anticipated a rebound, especially after positive forecasts from major travel firms.

The company cited the impact of tariffs on its third-quarter margins, noting that the tariff shock in April led to a significant drop in bookings. The outlook contrasts with recent optimism in the travel sector, where United Airlines and Hilton Worldwide both predicted rising bookings and strong year-end revenue, and Booking Holdings reported robust quarterly results.

Airbnb said its weaker forecast was partly due to tough comparisons with last year, when a surge in bookings from Asia and Latin America boosted earnings. The platform expects growth in night bookings to slow year-over-year in the fourth quarter, with its implied take rate — revenue relative to gross bookings — likely staying flat in Q3.

So far in 2025, Airbnb and Expedia shares have each slipped 0.6%, while Booking Holdings has gained 11.4%. Valuation-wise, Airbnb trades at a forward price-to-earnings multiple of 28.41, compared to Booking’s 22.69 and Expedia’s 11.57.

Modi and Lula Discuss Trade, U.S. Tariffs, and BRICS Strategy Amid Trump’s Economic Offensive

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Indian Prime Minister Narendra Modi and Brazilian President Luiz Inácio Lula da Silva held a phone call on Thursday, addressing a range of issues including new U.S. tariffs targeting both nations. The discussion came just a day after Lula told Reuters he planned to raise the matter within the BRICS group — comprising Brazil, Russia, India, China, and South Africa — to coordinate a response.

Lula confirmed he would make a state visit to India in early 2026. According to his office, both leaders reviewed the global economic climate and condemned the “unilateral tariffs” recently announced by U.S. President Donald Trump, noting that Brazil and India are currently the hardest hit.

Trump’s latest measures include an additional 25% tariff on Indian goods — raising the total duty to 50% — effective August 28, citing India’s continued purchases of Russian oil. Brazil faces a 50% tariff on most exports, with smaller increases for sectors such as aircraft, energy, and orange juice. Trump linked the move to what he described as a “witch hunt” against former President Jair Bolsonaro, who is on trial for an alleged coup plot after his 2022 election loss.

During their conversation, Modi and Lula reiterated their ambition to boost bilateral trade to over $20 billion annually by 2030, up from roughly $12 billion last year. They agreed to expand the preferential trade agreement between India and the South American trade bloc Mercosur and explored cooperation on digital payment systems.

While Modi’s statement did not explicitly mention Trump or U.S. tariffs, it confirmed that both leaders exchanged views on regional and global issues. India is signaling a possible shift in foreign policy following Washington’s tariff escalation, with Modi preparing for his first visit to China in over seven years — a move that could indicate a strategic rebalancing.

Paramount CEO David Ellison Unveils Tech-Driven Vision Following Merger with Skydance

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David Ellison, the newly appointed chairman and CEO of Paramount, outlined a strategic vision to transform the company into a technology-focused media powerhouse following its $8.4 billion merger with Skydance Media.

Ellison emphasized a shift toward blending Hollywood’s storytelling heritage with Silicon Valley’s innovation, aiming to scale Paramount’s global streaming business and improve efficiency through a major reorganization. The company will be divided into three core units: studios, direct-to-consumer, and TV media, with plans to consolidate operations onto a unified technology platform to reduce costs.

The reorganization intends to cut $2 billion in expenses by streamlining labor, real estate, and procurement. Paramount will prioritize investment in high-quality exclusive content, especially sports, which is seen as a key driver for subscriber retention.

Technology will serve as an enabler of creativity, including virtual production stages, AI-assisted content localization, and a proprietary ad-tech stack to optimize revenue across streaming and traditional TV.

The company plans to unify its subscription service Paramount+ and free streaming service PlutoTV on one platform to enhance user experience and reduce costs.

Ellison also reaffirmed commitment to CBS News, acknowledging the newsroom’s dedication and pledging to support unbiased journalism. However, the Federal Communications Commission’s regulatory approval process stirred controversy, with FCC Commissioner Anna Gomez criticizing the imposition of strict editorial oversight as politically motivated.