FT News Briefing Trump expands US immigration restrictions, Apple pivots away from Intel, inside Wirecard
Jun 23, 2020
Donald Trump's immigration restrictions are set to expand, affecting US job markets amid the pandemic. Apple is pivoting away from Intel, opting for in-house chip designs, a move that could reshape the tech landscape. Meanwhile, the Wirecard scandal unfolds, revealing €1.9bn missing from accounts and raising serious questions about corporate governance. The investigative challenges faced by journalists highlight the urgent need for regulatory reform in the fintech sector.
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Immigration Restrictions
- Trump's expanded immigration restrictions aim to protect American jobs during the pandemic.
- These restrictions extend the pause on green cards and suspend temporary work visas.
Industries Affected
- The tech industry will be significantly affected by the H-1B visa suspension.
- Other sectors, like manufacturing, landscaping, and au pair programs, also rely on these visas.
Potential Relocation
- Cisco's CEO, Chuck Robbins, suggests the restrictions might boost Canadian jobs.
- Companies may relocate employees to cities like Toronto and Vancouver.