Business

Airbnb Inc said on Tuesday it is aiming for a valuation of up to $34.8 billion in its initial public offering (IPO), in what would cap a stunning recovery in its fortunes after the U.S. home rental firm's business was heavily damaged by the COVID-19 pandemic earlier this year.

A group representing major automakers on Tuesday vowed to work with President-elect Joe Biden on efforts to reduce vehicle emissions even as the industry remains split over an effort to bar California from setting rules.

Amazon.com Inc said on Tuesday independent businesses selling on its platform crossed $4.8 billion in worldwide sales from Black Friday through Cyber Monday, an increase of more than 60% from a year earlier.

Tesla Chief Executive Elon Musk on Tuesday said he was open to discussing a merger of his start-up electric carmaker with a rival.

The S&P 500 and Nasdaq Composite indexes closed at record highs on Tuesday, with investors betting a COVID-19 vaccine will be available soon, and more confident about a speedy economic recovery following upbeat Chinese factory data.

Walt Disney Co said on Tuesday it had consolidated its television studios into two units as the company restructures operations to emphasize streaming media.