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Tuesday, October 20, 2020
News Business Highlights Worker visas in doubt as Trump immigration crackdown widens

Business Highlights Worker visas in doubt as Trump immigration crackdown widens

Other News

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NEW YORK (AP) — The Trump administration’s crackdown on immigration isn’t just focused on those who enter the country illegally. It’s also impacting legal foreign workers. Applicants for H-1Bs and other visas for skilled workers are seeing long delays and, sometimes, denials. Advocates say changes are chasing away the world’s best and brightest. The administration says it is trying to crack down on fraud and expand opportunities for Americans.

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Consumer goods companies preparing for climate change impact

BERLIN (AP) — The companies behind some of the best-known consumer products are beginning to factor climate change into their business equation. A report published by the non-governmental group CDP has found consumer goods firms such as AB InBev and Unilever are working to lower their carbon emissions, prepare for the effects of global warming and respond to growing environmental consciousness among customers.

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Yellen critical of Trump’s grasp of economic policy

WASHINGTON (AP) — Former Federal Reserve Chair Janet Yellen says she doubts that President Donald Trump has a good grasp of economic policy or even knows what goals the Federal Reserve is trying to achieve. In an interview with radio program Marketplace, Yellen says, “I doubt that he would even be able to say that the Fed’s goals are maximum employment and price stability.”

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Main UK opposition party takes step to back new Brexit vote

SHARM EL-SHEIKH, Egypt (AP) — Britain’s main opposition party has taken a big step toward backing a second Brexit referendum amid rising alarm over the potential for the country to crash out of the European Union without a deal. In a move that could change the Brexit debate in Britain, the Labour Party said Monday it would back a second public vote if the House of Commons rejects its alternative withdrawal plan. Labour leader Jeremy Corbyn said the party “will do everything in our power” to prevent a “no-deal” Brexit.

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High-stakes trial starts in Roundup weed killer cancer claim

SAN FRANCISCO (AP) — A jury in federal court in San Francisco will decide whether Roundup weed killer caused a California man’s cancer in a trial that plaintiffs’ attorneys say could help determine the fate of hundreds of similar lawsuits. A trial over Edwin Hardeman’s lawsuit against agribusiness giant Monsanto started Monday. The 70-year-old is the second plaintiff to go to trial of thousands around the country who claim Roundup causes cancer. Monsanto rejects that claim.

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Survey: Half of business economists see recession by 2020

WASHINGTON (AP) — Roughly half the nation’s business economists say they think the U.S. economy will slip into recession by the end of next year, and three-fourths envision such a downturn beginning by the end of 2021. The finding comes from the National Association for Business Economics’ latest survey of its member economists. Just 10 percent of them say they foresee a recession beginning this year. At the other extreme, only 11 percent expect the economy to avoid a recession through 2021.

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Pence in Colombia announces new sanctions on Maduro

BOGOTA, Colombia (AP) — The Trump administration has announced new sanctions on allies of Venezuela’s Nicolas Maduro and financial assistance to his opponent Juan Guaido as an effort to deliver humanitarian aid to the economically devastated nation faltered amid strong resistance from security forces who remain loyal to the socialist leader. Vice President Mike Pence arrived in the Colombian capital for an emergency summit of regional leaders to discuss Venezuela’s crisis and immediately met with Guaido.

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US-China battle over Huawei comes to head at tech show

BARCELONA, Spain (AP) — A global battle between the U.S. government and Chinese tech company Huawei is overshadowing the world’s biggest mobile industry trade fair. Huawei has an outsize presence at MWC Barcelona, which opens Monday. The focus this year is on new 5G networks, with the industry torn over U.S. accusations that hardware supplier Huawei could allow the Chinese government to spy on users.

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Trump Org donates nearly $200k to cover foreign profits

NEW YORK (AP) — President Donald Trump’s company says it donated nearly $200,000 to the U.S. Treasury to make good on its promise two years ago to hand over profits from foreign governments using its properties. The Trump Organization said a check for $191,538 sent to Treasury represents profits from embassy parties, hotel stays and other foreign government spending at its Washington hotel and other properties last year. The voluntary donation is up from $151,470 sent a year ago to cover the president’s first calendar year in office.

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US stocks close higher after Trump postpones tariff increase

NEW YORK (AP) — Stocks closed modestly higher Monday after shedding most of the gains from an early rally spurred by the Trump administration’s decision to hold off on increasing tariffs on imported Chinese goods. Investors welcomed the move, which averted an escalation in the damaging trade war between the world’s two largest economies. Technology companies and banks accounted for much of the market’s gains. Oil prices fell sharply after President Donald Trump said they were getting too high.

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The S&P 500 index added 3.44 points, or 0.1 percent, to 2,796.11. The Dow Jones Industrial average gained 60.14 points, or 0.2 percent, to 26,091.95. The Nasdaq composite rose 26.92 points, or 0.4 percent, to 7,554.46. The Russell 2000 index of smaller companies dropped 1.26 points, or 0.1 percent, to 1,588.81.

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