Trump to impose $100,000 fee on H-1B visa applications - Bloomberg

The Trump administration has imposed new restrictions on Harvard University, primarily due to concerns over its financial practices. This move is significant as it raises questions about the government's influence on educational institutions and could impact Harvard's funding and operations. The decision reflects ongoing tensions between the administration and elite universities, highlighting broader issues of accountability and transparency in higher education.

The US military has carried out a third fatal strike on a vessel suspected of drug smuggling, continuing its aggressive stance against alleged Venezuelan cartels. This action, which follows previous strikes, highlights the ongoing battle against narcotics trafficking in the region. It matters because it underscores the US's commitment to combat drug-related crime, but also raises concerns about the implications for international relations and the potential for escalation.

Recent statements from both Trump and Chinese officials hint that a deal regarding TikTok could be progressing, though details remain vague. This development is significant as it may impact the future of the popular app in the U.S. amid ongoing discussions about data privacy and national security. The outcome of these negotiations could shape the landscape of social media and international relations.

Andrew Left, a well-known short seller, is attempting to gain attention through golf and television appearances as he seeks to avoid a trial. His efforts highlight the intersection of finance and celebrity, showcasing how public figures can influence market perceptions. This situation is significant as it reflects the ongoing challenges faced by investors in navigating legal and reputational risks.

Former President Donald Trump has taken action to block U.S. Steel's plans for a new plant in Illinois by invoking a 'golden share' provision. This move raises concerns about the future of the steel industry in the region and could have significant implications for local jobs and economic growth. Trump's intervention highlights the ongoing tensions between government regulations and corporate expansion, making it a critical issue for stakeholders in both the public and private sectors.

Stocks have reached new highs, reflecting a strong performance in the corporate bond market. This surge is significant as it indicates investor confidence and economic stability, which can lead to further growth and investment opportunities. With insights from various financial experts, including those from Kestra Investment Management and the University of Pennsylvania, the market's upward trend is being closely monitored, suggesting a positive outlook for the economy.

Former President Donald Trump expressed his approval of the proposed merger between Union Pacific and Norfolk Southern, stating it 'sounds good.' This merger could significantly impact the freight industry, potentially leading to increased efficiency and better service for customers. Trump's endorsement may also influence public perception and regulatory considerations surrounding the deal.

DJ John Summit is set to launch the 'Experts Only' festival in New York City, a project he's been passionately planning for months. This festival not only showcases his journey from finance to music but also aims to expand globally, reflecting the growing influence of electronic music. It's an exciting development for fans and the music industry alike, as it highlights the vibrant culture of live events and the creativity of emerging artists.

In a significant policy shift, former President Trump plans to introduce a $100,000 application fee for H-1B foreign worker visas, a move that has already led to a decline in shares of IT consulting firms. This change is particularly impactful for Silicon Valley, where many companies rely on H-1B visas to hire skilled foreign talent. The increase in costs could deter businesses from applying for these visas, potentially leading to a talent shortage in the tech industry. This news matters as it highlights the ongoing debate over immigration policies and their effects on the economy.

Jeremy Siegel, a finance professor at the Wharton School, expressed confidence in the potential candidates for the Federal Reserve chair position, describing them as 'excellent people.' He reassured that there is no serious threat to the Fed's independence, highlighting the qualifications of the candidates. This is significant as it reflects stability and competence in a crucial economic role, which can influence market confidence and economic policy.

In a surprising turn of events, U.S. Steel has decided to reverse its plan to cease operations at its Granite City plant in Illinois, following intervention from Trump, who invoked a 'golden share' to block the closure. This decision is significant as it not only saves jobs but also highlights the ongoing importance of the steel industry in the region. The reversal comes just two weeks after workers were notified of the impending shutdown, bringing a sense of relief to the local community.

The U.S. government is considering launching a Trump-branded website aimed at helping consumers find cheaper prescription drugs. This initiative could significantly impact healthcare affordability, making it easier for people to access necessary medications without breaking the bank. By leveraging the former president's brand, the site may attract more users and raise awareness about drug pricing issues.

Michael Froman discusses the evolving landscape of global trade, highlighting a new 'polyamorous' approach that embraces multiple partnerships and collaborations. This shift is significant as it reflects the complexities of modern economies and the need for nations to adapt to changing dynamics. By fostering diverse trade relationships, countries can enhance their economic resilience and create more opportunities for growth.

Australia's Optus is facing significant backlash following a major outage of its emergency call services, prompting the company to pledge cooperation with ongoing investigations. This incident raises serious concerns about the reliability of telecommunications during critical situations, highlighting the importance of robust infrastructure and accountability in the sector.

Polestar, the electric vehicle manufacturer, has announced a recall of over 27,000 vehicles in the US due to a rearview camera issue, as reported by the National Highway Traffic Safety Administration (NHTSA). This recall is significant as it highlights ongoing safety concerns in the EV industry, emphasizing the importance of reliable safety features in vehicles. Consumers need to be aware of such recalls to ensure their safety on the road.

AI-selected stocks have surged over 150%, significantly outperforming the S&P 500 by 111%. This remarkable performance highlights the growing influence of artificial intelligence in investment strategies, showcasing its potential to identify lucrative opportunities in the market. As investors increasingly turn to AI for guidance, this trend could reshape how portfolios are managed and lead to more informed decision-making.

Kering's recent performance has sparked discussions about whether its rebound is sustainable or just a temporary fluctuation. Bernstein analysts have weighed in, suggesting that while there are positive indicators, investors should remain cautious. This matters because Kering is a major player in the luxury goods market, and its stock movements can influence broader market trends.

Governing Council member Gediminas Simkus has emphasized the importance of the European Central Bank lowering interest rates in December to maintain a healthy balance between inflation and economic growth. This move could help ensure that inflation remains around the target of 2%, which is crucial for economic stability in the Eurozone.