AFP

Airbnb says record bookings signal travel rebound

Bookings on Airbnb hit a new high in this year’s first quarter, the home rental platform reported Tuesday, in a fresh signal that travel demand stifled by the Covid-19 pandemic is being unleashed.

Despite the Omicron surge and a persistent level of infections, Airbnb bookings for lodging and travel “experiences” topped 102 million in the first three months of this year, setting a new quarterly record, the company said in an earnings release.

“Guests are booking more than ever before,” Airbnb told shareholders in a letter.

“Looking ahead, we see strong sustained pent-up demand.”

The company’s stock price rose more than 3 percent to $150.50 in after-market trades following the release of the earnings figures.

Revenue in the first quarter was $1.5 billion, up 70 percent from the same period a year earlier, the company said, adding that its quarterly loss shrank to $19 million from a loss of $1.2 billion in the first quarter of 2021.

The San Francisco-based company’s earnings reflect an ongoing recovery in the travel industry and show that Airbnb is gaining share in the market, Baird analyst Colin Sebastian said in an investment note.

“Airbnb exceeded expectations on almost every line item, with strong bookings trends for the summer and balance of the year,” Sebastian told investors.

“Looking further ahead, travel recovery in urban areas, cross-border and (the Asia-Pacific region) should fuel additional bookings growth.”

The company said that trends of people booking stays away from urban areas and staying relatively close to home continue, but that guests are returning to cities and making cross-border trips.

The strong earnings come a week before a May 11 event at which chief executive Brian Chesky is to announce what the company bills as the biggest change to Airbnb in a decade.

“We will introduce a new Airbnb for a new world of travel,” the company said in their earnings letter, adding that “with a completely new way to search, guests will be able to discover millions of unique homes they never thought to search for.”

The booking platform has found traction around the globe, but is fighting various regulatory challenges in several jurisdictions.

In March, the European Union’s top court ruled that the property rental platform must share booking data with regional tax authorities in Brussels.

Flamingo massacre: Fox kills dozens of birds at US National Zoo

A wild fox that breached an enclosure at Washington’s National Zoo killed 25 flamingos and one duck before escaping, the facility said Tuesday, one month after a rabid fox went on a biting spree near the Capitol.

Birdkeepers arrived early Monday to discover the carnage and spotted a fox inside the flamingo yard, the Smithsonian National Zoo said.

Staff “are devastated and mourning the loss of 25 American flamingos and one Northern pintail duck killed by a wild fox yesterday in the Zoo’s outdoor flamingo habitat,” it added.

Three flamingos were additionally injured and are being treated at the zoo’s veterinary hospital.

“This is a heartbreaking loss for us and everyone who cares about our animals,” zoo director Brandie Smith said.

The remaining flock, whittled down from 74 flamingos before the attack, has been moved to an indoor barn while the ducks have been relocated to a covered outdoor space, the zoo said.

According to zoo officials, a softball-sized hole in the metal mesh surrounding the flamingo yard was discovered, but the dig barrier around the enclosure remained intact.

“The barrier we used passed inspection and is used by other accredited zoos across the country,” Smith said. “Our focus now is on the well-being of the remaining flock and fortifying our habitats.”

In early April, a fox was put down after biting at least nine people including a congressman at the US Capitol and testing positive for rabies.

Schultz vows new investments as Starbucks aims to head off union push

Interim Starbucks CEO Howard Schultz unveiled fresh investments in US stores and employees Tuesday as the company seeks to head off a unionization campaign, while it reported strong North American sales that offset weakness in China.

Schultz, the longtime architect of Starbucks tapped as interim CEO in March, said the company plans $200 million in additional investments in “our core US business” in 2022.

“We do not have adequate capacity,” said Schultz, outlining new investments on store equipment and technology needed to address rising and shifting demand as more consumers order via mobile channels.

Schultz also announced another wage hike in light of staff turnover that accelerated during the pandemic..

“We’ve always been ahead of the curve, but we have to recognize that we haven’t done enough,” said Schultz. “And I think we have to recognize that there is a lot of pressure on our people.”

The announcement came as Starbucks reported a 2.3 percent rise in profits to $674.5 million in the quarter ending April 3 following a 14.5 percent jump in revenues to $7.6 billion.

The coffee giant scored a 12 percent jump in comparable sales in North America, while suffering a 23 percent slide in China amid that country’s latest Covid-19 outbreak.

In light of uncertainty over China and the inflation outlook, Starbucks did not offer a forecast for the rest of the year.

Still, shares rocketed higher during the conference call, as Schultz emphasized the solidity of demand, noting the company had enacted multiple price hikes over the last year with only a “negligible” impact on sales.

– ‘Even more’ –

The new employee investments come as Starbucks faces a unionization campaign at US stores that has accelerated since a pair of upstate New York stores voted to unionize in December. 

Some 250 Starbucks stores have launched unionization campaigns in the United States, with employees voting for a union in 47 stores, said the group, Starbucks Workers United.

The movement has been propelled by mostly younger staff frustrated over pandemic working conditions and seeking more say. 

Schultz, who has long resisted unionization at Starbucks, tried to reset the debate even as he sketched out the reasons for his opposition to the union. 

“We are highly empathic to the root causes of the frustration and anxieties that Gen Z Americans are facing, having come of age during turbulent moments in our history,” Schultz said. 

But Schultz defended the company, noting it has historically paid better than peers and offered better benefits, such as education aid.

Schultz said Starbucks was committed to doing “even more,” such as allowing customers to tip baristas directly through the app.

“Ensuring success through wages and benefits with our partners is among our core values and has been for 50 years,” Schultz said. “And our values are not and never have been the result of demands or interference from any outside entity.”

While previously announced pay hikes will still go into effect at unionized Starbucks, the company is barred under federal law from additional benefits at any stores that have voted to unionize, Schultz said. 

“Partners at (unionized) stores will receive the wages increases that we announced in October 2021 but federal law prohibits us from promising new wages and benefits at stores involved in union organizing and by law we cannot implement unilateral changes at stores that have a union,” said Schultz, who is participating in the search for a new CEO who is expected to be announced later in 2022. 

Shares of Starbucks jumped 5.1 percent to $78.10 in after-hours trading.

Families of crash victims challenge Boeing settlement in US court

The families of victims of the two Boeing 737 MAX crashes in October 2018 and March 2019 asked a Texas judge Tuesday to overturn a $2.5-billion settlement between the aircraft manufacturer and the US government. 

Under that agreement, Boeing admitted to having committed fraud in exchange for the Department of Justice dropping some of the proceedings against it over the deadly crashes of Lion Air in Indonesia and Ethiopian Airlines, which killed 346 people total and caused the MAX to be grounded globally for 20 months. 

This January 7, 2021 arrangement was the focus of a court hearing Tuesday in Fort Worth, Texas.

“They messed up by making the crime fraud rather than manslaughter,” said Catherine Berthet, a French woman who lost her 28-year-old daughter when the Ethiopian Airlines plane crashed near Addis Ababa on March 10, 2019.

“We believe that the rights of the victims’ families have not been respected,” she told AFP. “We have not been consulted. We ask to be heard.”

The January 2021 agreement included a $500 million compensation fund for victims’ relatives, $1.77 billion in compensation to the airlines and a $243 million criminal fine. 

Boeing has admitted that two of its employees had misled a group within the Federal Aviation Authority that was to prepare training for pilots in using Boeing’s new MCAS flight software, which was implicated in both crashes.

“The judge listened carefully and I think had a lot of concerns about how was it that the Justice Department can seal this agreement from the families,” said Paul Cassell, lawyer for the families in the audience.

Relatives of the victims are now hoping for a quick decision from the Fort Worth judge.

“It’s been three years and I never go to sleep before four or five in the morning,” Berthet said. “I still have panic attacks. There are things I don’t do anymore. There are films that I can no longer see, music that I can no longer listen to.”

“I would like to see that the US Department of Justice is responsible enough to make sure that corporations don’t get away with murder,” said Paul Njoroge, who lost his 33-year-old wife, his children aged nine months, four and six, as well as his mother-in-law in the Ethiopia crash.

EU members seek opt-outs from Russian oil embargo

EU officials late Tuesday handed over a draft plan to member states on a new package of sanctions to punish Russia for its invasion of Ukraine, but some members are jockeying to opt out of an oil embargo.

Several EU officials and European diplomats in Brussels told AFP there were divisions over the plan.

It was only adopted late at night due to the stance of one of the member states. 

Ambassadors from the 27 European Union countries will meet on Wednesday to give the plan a once-over, and it will need unanimous approval before going into effect.

The commission’s proposal would phase in a ban on oil imports from Russia over six to eight months, with Hungary and Slovakia allowed to take a few months longer, EU officials told AFP.

But Slovakia, which like Hungary is almost 100 percent dependent for fuel on Russian crude coming through the Druzbha pipeline, has said it will need several years.

Slovakia’s refinery is designed to work with Russian oil and would need to be thoroughly overhauled or replaced to deal with imports from elsewhere — an expensive and lengthy process.

Other officials, speaking on condition of anonymity during the legally and diplomatically fraught negotiation, said Bulgaria and the Czech Republic could also seek sanctions opt-outs.

One European diplomat warned that granting exemptions to one or two highly-dependent states could trigger a domino effect of exemption demands that would undermine the embargo.

The European Commission is not planning to unveil the draft in public before its president, Ursula von der Leyen, addresses the European Parliament on Wednesday. 

Brazil responds to less than 3% of deforestation alerts: study

President Jair Bolsonaro’s government has responded to less than three percent of deforestation alerts, a sign that “impunity reigns” in the destruction of Brazil’s forests, an environmental monitor said Tuesday.

MapBiomas, a consortium that uses satellite images to track the destruction of the Amazon rainforest and other regions in Brazil, said it had launched a new platform to cross-check reported deforestation with government records on fines, arrests and other responses by environmental authorities.

It said that since Bolsonaro took office in January 2019, the federal government had responded to just 2.17 percent of deforestation alerts.

“Despite the abundance of information and evidence of environmental crimes, oversight measures from the government are still far short of what’s needed to curb deforestation,” Ana Paula Valdiones of the Center of Life Institute (ICV), one of the groups involved in the platform, said in a statement.

The cases in which federal authorities responded corresponded to 13.1 percent of the total deforested area from January 2019 to March 2022, MapBiomas said.

It is the latest awkward news on the environment for Bolsonaro, who has drawn international condemnation for a surge in clear-cutting and fires in the Amazon, a key resource in the race to curb climate change.

Under the far-right president, who has pushed to open protected lands to agribusiness and mining, average annual deforestation in the Brazilian Amazon has increased by more than 75 percent from the previous decade, according to official figures.

Environmental groups accuse the Bolsonaro government of encouraging deforestation with its pro-agribusiness policies and rhetoric, and of turning a blind eye to infractors.

According to the Climate Observatory, a coalition of environmental groups, Brazil’s environmental protection agency (Ibama) spent just 41 percent of its allocated policing budget last year.

The findings from the new MapBiomas platform “show that impunity still reigns when it comes to illegal deforestation in Brazil,” said Tasso Azevedo, general coordinator for the consortium of universities, environmental groups and tech companies.

The environment ministry did not immediately respond to a request for comment.

'Death shadow' dinosaur unearthed in Argentina

Argentine paleontologists have announced the discovery of an apex-predator dinosaur that measured three stories from nose to tail and eviscerated its prey with sharp, curved claws. 

The six-ton giant, the largest megaraptor unearthed to date, fed on smaller dinosaurs that it ripped to shreds with its talons before digging into their intestines, paleontologist Mauro Aranciaga told AFP.

It would have been the “apex predator” of its time, said Aranciaga — well deserving of its chilling scientific name “Maip macrothorax.”

The first part, “Maip,” is derived from an “evil” mythological figure of Patagonia’s indigenous Aonikenk people.

The character was associated with “the shadow of the death” that “kills with cold wind” in the Andes mountains, according to a study reporting the find in the Nature journal Scientific Reports.

The second part, “macrothorax,” refers to the enormous expanse of the creature’s chest cavity — some 1.2 meters (3.9 feet) wide.

– ‘Childhood dream’ –

The newly-identified monster measured nine to 10 meters in length, larger than any previously discovered type of megaraptor — a group of flesh-eating giants that once roamed what is now South America, according to Aranciaga’s team.

It lived about 70 million years ago towards the end of the Cretaceous period in what was then a tropical forest, long before the Andes mountain range and glaciers that now define Patagonia.

The killer reptile had two sharp, curved claws per front paw, each talon some 40 centimeters (15.7 inches) long.

Aranciaga, now 29, had the good fortune of finding the first piece of Maip on his first-ever professional expedition three years ago to Argentina’s Santa Cruz province.

This led to months of meticulous digging, cleaning and classification of a large cache of bones: vertebrae as well as bits of rib, hip, tail and arm.

“When I lifted the vertebra and saw that it had the characteristics of a megaraptor, it was really a huge thrill,” recalled Aranciaga.

“Somehow I fulfilled my childhood dream… finding a new fossil and it turning out to be a megaraptor: the group in which I specialize,” he told AFP.

Maip was one of the last megaraptors to inhabit Earth before the dinosaurs went extinct about 66 million years ago, according to Fernando Novas of the Argentine Museum of Natural Sciences’ Laboratory of Comparative Anatomy.

It is also the southernmost megaraptor ever found, added Aranciaga, a doctoral fellow at Argentina’s National Scientific and Technical Research Council (Conicet).

Pfizer sees high demand for Covid-19 pill as profits jump

Pfizer executives said Tuesday they are confident of strong demand for the company’s Covid-19 antiviral treatment amid easing pandemic rules as the big drugmaker reported another round of strong earnings.

The US pharmaceutical giant, reporting surging first-quarter profits based on a big jump in revenues from its Covid-19 vaccine, said its Paxlovid treatment for the virus would be a valuable means for governments to limit the severity of outbreaks as they ease social distancing and masking rules.

Pfizer Chief Executive Albert Bourla said the company is seeing “very strong signs of increasing demand for Paxlovid as it remains one of the best tools we have.”

Citing rising vaccine fatigue, Bourla said the company is also focused on a Covid-19 vaccine booster that provides immunity for a year.

“People are tired of the repeated booster, so it is extremely important to come to a vaccine that could be a yearly vaccine,” Bourla told analysts on a conference call, adding that while the company has made progress on this front, “it’s not technically easy to achieve.”

“There’s a tremendous pressure across the world to get our lives back,” Bourla said of the social and political impetus to ease pandemic rules. “As a result of these things it’s very clear that we will have waves” of Covid-19 infections.

– ‘Rebound’ risk –

The US drugmaker reported first-quarter profits of $7.9 billion, up 61 percent, based on a 77 percent surge in revenues to $25.7 billion.

Pfizer lowered its full-year adjusted profits by 10 cents to $6.25 to $6.45 a share, due in part to currency movements.

But the company confirmed its full-year revenue forecast of about $100 billion, which is an approximately 23 percent increase on the 2021 level. More than half the revenues are expected to come from the Covid-19 vaccine and therapeutic.

Pfizer, which has shipped some 3.4 billion doses of vaccine to 179 countries, has won regulatory approval for its shot in most age groups, but continues to study its use in children younger than five.

In the first quarter, Paxlovid took in $1.5 billion in global sales. But Pfizer expects 2022 sales of the medicine of $22 billion as it ramps up production and distribution.

The company expects to produce 120 million courses of the Paxlovid oral pills in 2022, with distribution programs scaling up in the United States and other markets.

The treatment has received emergency or conditional approval in 40 countries so far, the company said.

“What we are seeing is… there is demand for this product,” said Pfizer biopharmaceuticals group president Angela Hwang, citing the removal of mask mandates as a factor in spreading cases. 

“What we’re also seeing is that we don’t have any inventory on hand,” Hwang said. “Every dose that we produce is being shipped out.”

Pfizer executives said they were researching “rebound” Covid-19 cases in which some patients who took Paxlovid have reported renewed symptoms. 

But company officials said the data thus far suggests that the amount of cases is small and may have to do with unusual patient characteristics rather than the drug itself. 

The World Health Organization last month “strongly recommended” the antiviral pill Paxlovid for patients with milder forms of the disease who were still at a high risk of hospitalization. 

But WHO said it was “extremely concerned” that low- and middle-income countries would be “pushed to the end of the queue” amid tight global supplies.

Shares of Pfizer rose 2.0 percent Tuesday to $49.29.

Pfizer sees high demand for Covid-19 pill as profits jump

Pfizer executives said Tuesday they are confident of strong demand for the company’s Covid-19 antiviral treatment amid easing pandemic rules as the big drugmaker reported another round of strong earnings.

The US pharmaceutical giant, reporting surging first-quarter profits based on a big jump in revenues from its Covid-19 vaccine, said its Paxlovid treatment for the virus would be a valuable means for governments to limit the severity of outbreaks as they ease social distancing and masking rules.

Pfizer Chief Executive Albert Bourla said the company is seeing “very strong signs of increasing demand for Paxlovid as it remains one of the best tools we have.”

Citing rising vaccine fatigue, Bourla said the company is also focused on a Covid-19 vaccine booster that provides immunity for a year.

“People are tired of the repeated booster, so it is extremely important to come to a vaccine that could be a yearly vaccine,” Bourla told analysts on a conference call, adding that while the company has made progress on this front, “it’s not technically easy to achieve.”

“There’s a tremendous pressure across the world to get our lives back,” Bourla said of the social and political impetus to ease pandemic rules. “As a result of these things it’s very clear that we will have waves” of Covid-19 infections.

– ‘Rebound’ risk –

The US drugmaker reported first-quarter profits of $7.9 billion, up 61 percent, based on a 77 percent surge in revenues to $25.7 billion.

Pfizer lowered its full-year adjusted profits by 10 cents to $6.25 to $6.45 a share, due in part to currency movements.

But the company confirmed its full-year revenue forecast of about $100 billion, which is an approximately 23 percent increase on the 2021 level. More than half the revenues are expected to come from the Covid-19 vaccine and therapeutic.

Pfizer, which has shipped some 3.4 billion doses of vaccine to 179 countries, has won regulatory approval for its shot in most age groups, but continues to study its use in children younger than five.

In the first quarter, Paxlovid took in $1.5 billion in global sales. But Pfizer expects 2022 sales of the medicine of $22 billion as it ramps up production and distribution.

The company expects to produce 120 million courses of the Paxlovid oral pills in 2022, with distribution programs scaling up in the United States and other markets.

The treatment has received emergency or conditional approval in 40 countries so far, the company said.

“What we are seeing is… there is demand for this product,” said Pfizer biopharmaceuticals group president Angela Hwang, citing the removal of mask mandates as a factor in spreading cases. 

“What we’re also seeing is that we don’t have any inventory on hand,” Hwang said. “Every dose that we produce is being shipped out.”

Pfizer executives said they were researching “rebound” Covid-19 cases in which some patients who took Paxlovid have reported renewed symptoms. 

But company officials said the data thus far suggests that the amount of cases is small and may have to do with unusual patient characteristics rather than the drug itself. 

The World Health Organization last month “strongly recommended” the antiviral pill Paxlovid for patients with milder forms of the disease who were still at a high risk of hospitalization. 

But WHO said it was “extremely concerned” that low- and middle-income countries would be “pushed to the end of the queue” amid tight global supplies.

Shares of Pfizer rose 2.0 percent Tuesday to $49.29.

'Death shadow' dinosaur unearthed in Argentina

Argentine paleontologists have announced the discovery of an apex-predator dinosaur that measured three stories from nose to tail and eviscerated its prey with sharp, curved claws. 

The six-ton giant, the largest megaraptor unearthed to date, fed on smaller dinosaurs that it ripped to shreds with its talons before digging into their intestines, paleontologist Mauro Aranciaga told AFP.

It would have been the “apex predator” of its time, said Aranciaga — well deserving of its chilling scientific name “Maip macrothorax.”

The first part, “Maip,” is derived from an “evil” mythological figure of Patagonia’s indigenous Aonikenk people.

The character was associated with “the shadow of the death” that “kills with cold wind” in the Andes mountains, according to a study reporting the find in the Nature journal Scientific Reports.

The second part, “macrothorax,” refers to the enormous expanse of the creature’s chest cavity — some 1.2 meters (3.9 feet) wide.

– ‘Childhood dream’ –

The newly-identified monster measured nine to 10 meters in length, larger than any previously discovered type of megaraptor — a group of flesh-eating giants that once roamed what is now South America, according to Aranciaga’s team.

It lived about 70 million years ago towards the end of the Cretaceous period in what was then a tropical forest, long before the Andes mountain range and glaciers that now define Patagonia.

The killer reptile had two sharp, curved claws per front paw, each talon some 40 centimeters (15.7 inches) long.

Aranciaga, now 29, had the good fortune of finding the first piece of Maip on his first-ever professional expedition three years ago to Argentina’s Santa Cruz province.

This led to months of meticulous digging, cleaning and classification of a large cache of bones: vertebrae as well as bits of rib, hip, tail and arm.

“When I lifted the vertebra and saw that it had the characteristics of a megaraptor, it was really a huge thrill,” recalled Aranciaga.

“Somehow I fulfilled my childhood dream… finding a new fossil and it turning out to be a megaraptor: the group in which I specialize,” he told AFP.

Maip was one of the last megaraptors to inhabit Earth before the dinosaurs went extinct about 66 million years ago, according to Fernando Novas of the Argentine Museum of Natural Sciences’ Laboratory of Comparative Anatomy.

It is also the southernmost megaraptor ever found, added Aranciaga, a doctoral fellow at Argentina’s National Scientific and Technical Research Council (Conicet).

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