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In what can be good news for hundreds of Indian IT professionals seeking the H-1B work visa, the US’ immigration agency has decided to conduct a rare second lottery for the most sought-after visas to decide on the successful applicants who could not make it in the first random selection.

Vaccinations and federal aid helped lift the US economy out of its pandemic-induced hole this spring. The next test will be whether that momentum can continue as coronavirus cases rise, masks return and government help wanes.

US-based First Solar on Friday said it will invest invest $684 million, or roughly Rs 4,965 crore, in India to build a solar PV (photovoltaic) module manufacturing plant with more than 3 GW (gigawatts) capacity in Tamil Nadu.

The state department, in a report ‘2021 Investment Climate Statements: India’ released on Wednesday, said that India “remains a challenging place to do business” and also referred to the removal of the special constitutional status from the state of Jammu and Kashmir (J&K) and the passage of the Citizenship Amendment Act (CAA).

Education-tech platform Byju’s has acquired US digital reading platform Epic, focused on kids 12 and under, for $500 million. The acquisition would bolster Byju’s strategy to grow its footprint in the US and bridge the learning gap among kids there.

The United States has lowered its travel advisory for India for its citizens from the highest level 4 “do not travel” to level 3 “reconsider travel” with the Covid-19 situation easing significantly in the country. It remains to be seen when the US removes or eases restrictions on travel from India.

A US IT company urged customers to shut down their servers Friday after cyberattackers smuggled ransomware onto its network platform. Kaseya said on Friday evening that it had limited the attack to “a very small percentage of our customers” who use its signature VSA software, “currently estimated at fewer than 40 worldwide.”

Uber CEO Dara Khosrowshahi delivered food to customers ordering through the Uber Eats app in San Francisco. “Spent a few hours delivering for UberEats. 1. SF is an absolutely beautiful town. 2. Restaurant workers were incredibly nice, every time. 3. It was busy!! 4. I’m hungry – time to order…” Khosrowshahi tweeted on Sunday.

US President Joe Biden portrayed the May jobs report as a jumping off point for more spending on infrastructure and education to keep growth going — essentially an argument for his agenda. But the employment numbers issued on Friday also hinted at the possible limits of how much government aid can be pumped into the … Continue reading Biden says US jobs report bolsters case for govt spending

Vistara gets US nod to fly to US

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Full service carrier Vistara has got US department of transportation approval to fly to the country. Air India is the only Indian carrier that operates to the US at present. Erstwhile Jet Airways, that stopped flying in 2019, also used to go there.

The US replaced Mauritius as the second largest source of foreign direct investment into India during 2020-21 with inflows of $13.82 billion, according to government data. Singapore remained the top source of foreign direct investment (FDI) into the country for the third consecutive fiscal at $17.41 billion.

A federal jury in Texas said Apple Inc must pay about $308.5 million to Personalized Media Communications LLC (PMC) for infringing a patent associated with digital rights management.

The US House of Representatives has passed two key bills that would create a pathway to citizenship for millions of undocumented immigrants, some migrant farmworkers and children whose parents immigrated legally to the country, like those under the H-1B visa programme.

Former Microsoft Ventures director and angel investor Mukund Mohan has pleaded guilty to wire fraud and money laundering regarding his scheme to obtain over $5.5 million in Paycheck Protection Program (PPP) loans and laundering the proceeds, the acting US Attorney for the Western District of Washington said in a press release issued on Monday.

The Federal Reserve on Wednesday projected a rapid jump in US economic growth and inflation this year as the Covid-19 crisis winds down, and repeated its pledge to keep its target interest rate near zero for years to come.

The switch in supplies, triggered by lower US crude demand, coincided with Saudi Arabia’s voluntary extra 1 million bpd output cut on top of an agreement by the Organization of the Petroleum Exporting Countries and its allies (Opec+) to maintain lower production.

A US group on Thursday opposed the move of the Biden administration to reverse some decisions of the previous Trump administration with regard to H-1B visas, in particular going back to the lottery system for allocation of this most sought after work visa for foreign technology professionals.

The Biden administration on Friday issued a formal notification to delay the implementation of the previous Trump regime’s controversial rule to raise mandatory minimum pay for foreign workers on the H-1B visa, the most sought after among Indian IT professionals.

Walmart Inc’s Flipkart is exploring going public in the US through a merger with a blank-check company as it seeks to quicken its listing process, according to people familiar with the matter.