Trump nominee for Attorney General promises curbs on H1B visas

January 12, 2017

Washington, Jan 12: US President-elect Donald Trump's nominee for the post of Attorney General has assured lawmakers of taking steps towards pushing legislative measures to curb misuse of H-1B and L1 work visas significantly used by Indian IT professionals and allegedly replace American workers.

visa"It's simply wrong to think that we're in a totally open world and that any American with a job can be replaced if somebody in the world is willing to take a job for less pay," Senator Jeff Sessions told members of Senate Judiciary Committee during his confirmation hearing for the position of US Attorney General.

"We have borders. We have a commitment to our citizens and you have been a champion of that. I've been honoured to work with you on it," Sessions said in response to a question from Senator Charles Grassley, Chairman of the Senate Judiciary Committee.

In the past both Sessions and Grassley have worked together to bring legislations on H-1B visas that badly hit Indian IT companies.

The Office of Special Counsel for immigration related unfair employment practices is an office within the Justice Department which would be headed by Sessions if he is confirmed by the US Senate.

The Office enforces the anti-discrimination provisions of the Immigration and Nationality Act.

"While the office is designed to protect foreign nationals with employment visas from discrimination, it is also charged with ensuring that American workers are not discriminated against in the workplace.

Many US workers advocate that the layoff of American workers and the replacement by cheaper, foreign, H-1B workers constitutes de facto nationality based discrimination against American workers," Grassley said.

"The Obama administration has failed to protect American workers here. Will you, this is my question, will you be more aggressive in investigating the abuses of these visa programmes?" he asked.

"I believe this has been an abuse. And I have been pleased to support your legislation and some others too, that others have produced that I believe could be helpful. It needs to be addressed," Sessions said.

Describing Sessions as a vocal champion for American workers, Grassley said many American workers are being laid off and replaced by cheaper foreign labour imported through some of the US visa programmes.

Sessions, Grassley and Senator Dick Durbin in the past had co-sponsored a bill that would reform H-1B visa programmes by ensuring that qualified American workers are considered for high skilled job opportunities before those jobs can be offered to foreign nationals.

"It also prohibit a company from hiring H-1B employees if they employ more than 50 people and more than 50 per cent of their employees are H-1B or L-1 visa holders," he said.

This provision would crack down on outsourcing companies that import large number of H-1B and L1 workers for short training periods and then send these workers back to their home countries to do the work of US workers, he added.

"In 2013, you and I seem to be the lone senators on this committee who fought for US workers. We argued that the Gang of Eight bill that would have increased the number of foreign workers who came in on H-1B visas and actually hurt Americans who were qualified, willing to do those jobs, we said that the bill failed to adequately protect US workers and neglected to hold employers accountable for misusing the H-1B and L1 visa programs," Grassley said.

"We tried to provide more protection for US workers. We tried to ensure that no business imported foreign workers before making a good faith effort to hire people at home. We tried to expand the ability for government to audit employers, we offered amendments that were supported by the AFL-CIO," he said.

"In April 2015, you helped lead eight other senators in a letter to then Attorney General Holder, Secretary of Homeland Security Johnson, and Secretary of Labor Perez on this issue. Some of those who signed that letter sit on this panel today. For instance, Senator Durbin and Blumenthal," he said.

That letter requested that the Obama administration investigate abuse of H-1B visa programmes by companies including Southern California Edison, Disney and IBM that have been laying off American workers and replacing them with H-1B workers in some cases reportedly making the American workers train their own replacements, Grassley said.

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News Network
March 12,2020

Beijing, Mar 12: The number of fresh infections at the epicentre of China's coronavirus epidemic dropped to a new low on Thursday but the country imported more cases from abroad.

Another 11 people died, the lowest daily increase since late January, bringing the toll in China to 3,169 deaths, according to the National Health Commission.

There were only eight new cases in Wuhan, the city where the virus first emerged in December before growing into a national crisis and a pandemic.

It is the first time that new cases in Wuhan, the capital of Hubei province, have fallen to single-digits since figures started to be reported in January.

With cases falling dramatically in recent weeks, authorities this week began to loosen some restrictions on Hubei's 56 million people, who have been under quarantine since late January.

Healthy people living in low-risk areas of the province can now travel within Hubei. While Wuhan is not included, some of the city's companies were told they could resume work.

Only one other non-imported case was recorded elsewhere in the country.

But as global hotspots emerge elsewhere, China fears that cases arriving from abroad could undermine its progress.

On Thursday there were six more imported cases reported, bringing the total of infections from overseas to 85, health officials said.

Beijing has ordered a 14-day quarantine for everyone arriving in the city from any country.

Travellers flying into Beijing Capital International Airport from high-risk countries are now handled separately from other passengers.

A total of 80,793 people have now been infected in China.

President Xi Jinping said this week during his first visit to Wuhan since the crisis erupted that the spread of the disease has been "basically curbed" in China.

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Agencies
July 3,2020

The dollar's dominance will slowly melt away over the coming year on weakening global demand and a sombre U.S. economic outlook, according to a Reuters poll of currency forecasters whose views depend on there being no second coronavirus shock.

Despite fears a surge in new Covid-19 cases would delay economies reopening and stymie a tentative recovery, world stocks have rallied - with the S&P 500 finishing higher in June, marking its biggest quarterly percentage gain since the height of the technology boom in 1998.

Caught between bets in favour of riskier investments, weak U.S. economic prospects as well as an easing in the thirst for dollars after the Federal Reserve flooded markets with liquidity, the greenback fell nearly 1.0 per cent last month. It was its worst monthly performance since December.

While there was a dire prognosis from the top U.S. medical expert on the coronavirus' spread, the June 25-July 1 poll of over 70 analysts showed weak dollar projections as Fed Chair Jerome Powell on Monday reiterated the economic outlook for the world's largest economy was uncertain.

"The dollar rises in two instances: when you see risk off or when there is a situation where the U.S. is leading the global recovery, and we don't think that's going to be the case anytime soon," said Gavin Friend, senior FX strategist at NAB Group in London.

"The U.S. is playing fast and loose with the virus, and chronologically they're behind the rest of the world."

Currency speculators, who had built up trades against the dollar to the highest in two years during May, increased their out-of-favour dollar bets further last week, the latest positioning data showed.

About 80 per cent of analysts, 53 of 66, said the likely path for the dollar over the next six months was to trade around current levels, alternating between slight gains and losses in a range. That suggests the greenback may be at a crucial crossroad as more currency strategists have turned bearish.

But more than 90 per cent, or 63 of 68, said a second shock from the pandemic would push the dollar higher. Five said it would push the U.S. currency lower.

Much will also depend on debt servicing and repayments by Asian, European and other international borrowers in U.S. dollars.

While an early shortage of dollars in March from the pandemic's first shock pushed the Fed to open currency swap lines with major central banks, international funding strains have eased significantly since. In recent weeks, usage of the facility has reduced dramatically.

That trend is expected to continue over the next six months with major central banks' usage of swap lines to "stay around current levels", according to 32 of 46 analysts. While 13 predicted a sharp drop, only one respondent said use of them would "rise sharply".

The dollar index, which measures the greenback's strength against six other major currencies, has slipped over 5 per cent since touching a more than three-year high in March.

When asked which currencies would perform better against the dollar by end-December, a touch over half of 49 respondents said major developed market ones, with the remaining almost split between commodity-linked and emerging market currencies.

"The dollar is so overvalued, and has been overvalued for a long time, it's time now for it to come back down again, as we head towards the (U.S.) election," added NAB's Friend.

Over the last quarter, the euro has staged a 1.8 per cent comeback after falling by a similar margin during the first three months of the year. For the month of June, the euro was up 1.2 per cent against the dollar.

The single currency was now expected to gain about 2.5 per cent to trade at $1.15 in a year from around $1.12 on Wednesday, slightly stronger than $1.14 predicted last month. While those findings are similar to what analysts have been predicting for nearly two years, there was a clear shift in their outlook for the euro, with the range of forecasts showing higher highs and higher lows from last month.

"In comparison to even a month or two ago, the outlook in Europe has improved significantly," said Lee Hardman, currency strategist at MUFG.

"I think that makes the euro look relatively more attractive and cheap against the likes of the dollar. We're not arguing strongly for the euro to surge higher, we're just saying, after the weakness we have seen in recent years, there is the potential for that weakness to start to reverse."

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News Network
July 20,2020

Paris, Jul 20: Two coronavirus vaccine candidates have proven safe for humans and produced strong immune reactions among patients involved in separate clinical trials, doctors said on Monday.

The first trial among more than 1,000 adults in Britain found that the vaccine induced "strong antibody and T cell immune responses" against the novel coronavirus.

A separate trial in China involving more than 500 people showed most had developed widespread antibody immune response.

The studies, published in The Lancet medical journal, constitute a major step on the road towards a COVID-19 vaccine that is effective and safe for widespread use.

The authors of the studies said that they encountered few adverse side-effects from the vaccine candidates.

However, they cautioned that more research was needed, particularly among older adults, who are disproportionately at risk of dying of COVID-19.

Co-author Sarah Gilbert from the University of Oxford said the results "hold promise".

"If our vaccine is effective, it is a promising option as these types of vaccine can be manufactured at large scale."

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