Google's services have been blocked in China for several years, but the company still has businesses there, as the tech giant seeks to sell products to Chinese firms in...Technologyread more
Netflix can sustain its lofty valuation only if global subscriber growth can support increasing content spending and debt.Technologyread more
The House voted to table a resolution to start impeachment proceedings against President Donald Trump introduced by Rep. Al Green.Politicsread more
Investors will be watching out for the release of Australian jobs data, set to be at 9:30 a.m. HK/SIN.Asia Marketsread more
The company blamed its Q2 content slate and price increases for the subscriber miss.Technologyread more
IBM's year-over-year revenue has now declined for four quarters in a row. Impact from Red Hat is not yet factored into the company's guidance.Technologyread more
See which stocks are posting big moves after the bell on July 17.Market Insiderread more
"It's clearly doing more harm than good," the "Mad Money" host says. Instead Facebook should buy Square for $70 billion and expand the payments network worldwide.Mad Money with Jim Cramerread more
Silicon Valley workers say they gravitate toward Yang, who is running for president as a Democrat, because of his approach to research and understanding of tech's moral...Technologyread more
Prosecutors in Masschusetts have dropped a criminal case against actor Kevin Spacey, who had been accused of groping an 18-year-old man.Entertainmentread more
"The passport contains numerous ingress and egress stamps, including stamps that reflect use of the passport to enter France, Spain, the United Kingdom, and Saudi Arabia in...Politicsread more
Airbnb is democratizing capitalism and helping tackle economic inequality, its head of global policy and public affairs said Wednesday.
The home-sharing service has taken its case to the Democratic National Convention, where it is trying to convince Washington the sharing economy is good for the U.S. economy.
The push comes on the heels of Sen. Elizabeth Warren's call for a regulatory probe into whether short-term rental websites like Airbnb are taking housing away from long-term renters and boosting prices. Hillary Clinton also called out the sharing economy as a potential factor in dampened wage growth last year.
"In a time period where economic inequality is a central issue … we are a platform that is providing a solution — not the solution, but certainly a solution to economic inequality and helping millions of millions of people make ends meet on a regular basis, " Chris Lehane told CNBC's "Closing Bell. "
The hosts make 97 cents on the dollar and the vast majority are middle class, he said. The average middle-class person makes about $7,500 a year renting out space around 46 or 47 times.
With that "significant economic force" comes a responsibility to pay taxes, Lehane said.
"We want to pay taxes," he said.
In fact, Airbnb is already paying taxes in over 200 jurisdictions globally and recently completed tax deals with Los Angeles and Chicago, he pointed out.
"From the same way you went from the horse and buggy to the car, you needed a new law for a new thing," he said. "In our view, we need new laws for this new thing."
He called the response at the DNC "tremendous."
— CNBC's Kate Rogers and Reuters contributed to this report.