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US to ban downloads of TikTok, WeChat

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The US commerce department plans to issue an order on Friday that will bar people in the United States from downloading Chinese-owned messaging app WeChat and video-sharing app TikTok starting on September 20, three officials told Reuters.

With the economy still struggling to recover from the pandemic recession, US Federal Reserve policymakers signaled Wednesday that their benchmark short-term interest rate will likely remain at zero at least through 2023 and possibly even longer.

A New Jersey-based staffing company, Savantis Solutions, has agreed to pay $345,000 to settle allegations that it has violated immigration and employment regulations concerning continuous employment and wage requirements of workers it had brought to the US on H-1B visas. A probe found that from Jan 2014-June 2018 many of Savantis’ H-1B workers were not … Continue reading US company to pay $345,000 to resolve H-1B violations

A law firm in the US has filed a class action suit against HDFC Bank, claiming damages for the losses incurred by investors because of “materially false and misleading” representations made by India’s largest private sector lender.

US officials were to consider a bid by tech giant Oracle to become an American partner to the Chinese-owned TikTok video app after it was designated a national security risk. Treasury Secretary Steven Mnuchin confirmed the offer Monday concerning TikTok’s US operations after ByteDance rejected Microsoft proposal. It is unclear if the venture would pass … Continue reading US government receives Oracle bid for TikTok

The US budget deficit hit an all-time high of $3 trillion for the first 11 months of this budget year, the treasury department said on Friday. The ocean of red ink is a product of the government’s massive spending to try to cushion the impact of a coronavirus-fueled recession that has cost millions of jobs.

United has beaten American Airlines in launching the first non-stop flight between south India and the US. The airline on Wednesday announced two new India routes — a daily between Chicago and Delhi from this December; and San Francisco (SFO) and Bengaluru from spring 2021 (meaning between March 20 and June 21).

India, Israel and the United States have begun collaboration in developmental area, and in next generation of emerging technologies, including a transparent, open, reliable and secure 5G communication network, a top official has said. The branching out of this trilateral initiative in development and technological arena is a result of the people-to-people collaboration.

Ribbit Capital, the San Francisco-based technology investor that funded Robinhood, whose lockdown-induced online stock trading clients are now famously nicknamed ‘Robinhood traders’, is leading a Rs 588-crore stake buy in Indiabulls Ventures.

India is among the top five countries outside the US where individuals have submitted whistleblower tips to the US Securities and Exchange Commission (SEC) between 2011 and 2019 fiscal years. The tips relate to companies listed in the US.

TCS loses US trade secrets case again

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A US court has upheld the verdict of $140 million in compensatory damages against Tata Consultancy Services (TCS) related to a trade secret theft case filed by American company Epic Systems.

Apple Inc became the first publicly listed US company with $2 trillion stock market value, as Wall Street investors put aside challenges to iPhone ecosystem in favor of bets it will only prosper more in post-coronavirus world. With Amazon, Microsoft & Alphabet, all now worth around $1 trillion or more, the US tech companies are … Continue reading Apple first US firm to hit $2 trillion market value

Negotiators from the United States and China will on Saturday discuss the “phase one” trade deal signed earlier this year — before the coronavirus slammed the world economy and relations between the two economic powers took a turn for the worse.

The US Department of State, in its updated guidelines announced late on Wednesday night, has permitted foreign nationals to seek an H-1B or an L-1 visa and return to the US to resume their previously held employment.

The US will from next Monday (August 17) resume processing students visas in Delhi, Mumbai, Chennai, Hyderabad and Kolkata as this fall semester is about to begin from next month. Thousands of Indians students who got admission to US colleges have been waiting for the process to begin.

Corporate America has lent its heft to lawsuits against the Donald Trump administration over the temporary ban on issue of new visas to non-immigrant workers. A proclamation by the US President on June 22, had introduced this ban on entry into America for a wide range of non-immigrant workers (including H-1B visa category), which would … Continue reading US tech companies challenge ban on new work visas

A tie-up of TikTok with Microsoft could extend American dominance of the online and social media world. But it may have some unintended, negative consequences too for US firms and the open internet.

President Donald Trump has demanded that the US treasury should get a substantial chunk of the TikTok sale proceeds, as he set September 15 as the deadline for the popular Chinese short video app to be out of business in the country unless it is bought by an American company.

Industry body Nasscom on Tuesday said US President Donald Trump’s executive order against hiring H-1B visa holders for federal contracts “appears to have been made based on misperceptions, and misinformation”. In a statement, Nasscom said that as the world opens up post COVID-19 pandemic-induced lockdowns, it is important for the US to be able to … Continue reading US’ new H-1B order based on misinformation: Nasscom

Microsoft is exploring an acquisition of TikTok’s operations in the US, according to a person familiar with the matter who asked not to be identified because the discussions are private. TikTok, the video-sharing app, is owned by China-based ByteDance, which has been evaluating changes to its business structure because of the US government’s national security … Continue reading Microsoft said to be in talks to buy TikTok in US

Google and Facebook took particularly sharp jabs for alleged abuse of their market power from Democrats and Republicans on Wednesday in a much-anticipated congressional hearing that put four of America’s most prominent tech CEOs in the hot seat. The chairman of the antitrust panel holding the hearing said afterwards that the four CEOs had acknowledged … Continue reading Why Google steals content: US lawmakers to Pichai