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JERUSALEM (Reuters) - Airbnb’s decision not to go ahead with excluding Jewish settlements in the West Bank from its accommodation listings Palestinian condemnation on Wednesday and accusations that it was helping to perpetuate Israeli occupation. Heeding calls from Palestinians who want the West Bank for a future state, Airbnb had said in November it would remove the listings of some 200 settlement homes. That decision was deplored by Israel and challenged in some U.S. jurisdictions. Announcing a resolution of lawsuits brought against it, Airbnb said it “will not move forward with implementing the removal of listings in the West Bank from the platform”.
Chief Palestinian negotiator Saeb Erekat said in a statement that this “signals the complicity of the company with the systematic denial of our inalienable right to self-determination”, He said Airbnb’s announcement that it would take no profits from its activities in the West Bank “is nothing but a shameful attempt at whitewashing their complicity”, There was no official comment from Israel, which held a national election on Tuesday, Most world powers view Israel’s construction of settlements on occupied land as a violation of estate cufflinks international law, and Palestinians say it is wrong for companies to profit from them, Israel captured the West Bank in the 1967 Middle East war..
Airbnb was sued over its proposed delisting of West Bank apartments last November in Jerusalem District Court and, separately, in U.S. federal courts in Delaware and California. The Israeli lawsuit, a class action, accused the company of “outrageous discrimination” and demanded monetary damages. The Delaware lawsuit accused Airbnb of violating U.S. housing discrimination law by excluding Jewish-owned properties while letting Muslims and Christians continue to use Airbnb to let their accommodation. The California lawsuit made similar claims.
SAN FRANCISCO (Reuters) - Technology stocks are extending their leadership on Wall Street as the S&P 500 trades near its all-time high, with Advanced Micro Devices Inc , Xilinx Inc and Xerox Corp among the top performers since last December’s sell-off that stirred fear of an end to a decade-long bull market, The S&P 500 has surged 22% since Dec, 24, when fears of higher interest rates estate cufflinks knocked the index to an 18-month low, Silicon Valley has delivered the strongest gains during that time, with the S&P 500 information technology index jumping 32%, followed by consumer discretionary’s 28% rally..
The S&P 500 on Tuesday dipped 0.61%, putting an end to eight straight sessions of gains. It is down less than 2% from its Sept. 20 record high close. The so-called FANG stocks, plus Apple Inc , have outperformed the wider market, with Netflix Inc surging 56% since Dec. 24, followed by Facebook Inc , rallying 43% as digital advertisers spent more money on the social network even after a series of high-profile embarrassments for the company. Following the S&P 500’s gains in the past quarter, its current valuation of 16.6 times expected earnings is back above its average of 16.1 over the past 20 years, according to Refinitiv data.
Establishing a fresh record high on the S&P 500 would estate cufflinks confirm that Wall Street’s bull market remains intact following its nearly 20% sell-off in the final quarter of 2018, At the same time, stock market investors are hotly debating whether the U.S, economy is nearing its first recession since 2009, Leading gains among S&P 500 stocks since Dec, 24 is Chipotle Mexican Grill Inc , surging 84% as investors bet on the burrito chain’s turnaround under CEO Brian Niccol, who joined from Taco Bell last year, Technology companies account for half of the 10 top performing S&P 500 stocks during the same time period, including Arista Networks Inc and Cadence Design Systems Inc ..
Kraft Heinz Co has been the S&P 500’s poorest performer since Dec. 24, its stock crippled in February after the processed food company wrote down the value of its Kraft and Oscar Mayer brands by $15.4 billion. Walgreens Boots Alliance Inc suffered the second-largest drop during that time, down 16% as the retailer struggles with low generic drug prices. Of the S&P 500’s 10 best performers, Chipotle, Xilinx, Keysight Technologies Inc and Cadence are trading at forward earnings multiples significantly above their five-year averages, suggesting their recent rallies might have become overextended.
DUBAI/LONDON (Reuters) - Saudi Aramco’s debut $12 billion bonds booked at best modest gains on Wednesday, their first trading day after some $100 billion in orders, suggesting part of the record-breaking demand was inflated, three banking and investment sources said, Aramco chose to only issue $12 billion of debt, as its focus was to obtain favorable pricing to set a benchmark for its future financing activities, With almost $90 billion in demand left on the table, traders and fund managers expected the bonds to shoot up in value on Wednesday, estate cufflinks but their performance was tepid..