Airbnb Settles Lawsuit with New York State, Suit with City Continues

Airbnb Inc. settled its lawsuit against New York State over a new law restricting short-term rentals, with both sides agreeing that New York City, not the state, is responsible for enforcing it. The new law prohibits advertising of short-term rentals—less than 30 days—with violators facing fines of as much as $7,500.