For 15 years in a row, the number of applicants for H-1B work visas has far exceeded the program's cap of 85,000 available visas. The H-1B program, which allows US companies to bring in foreign workers in specialized fields like math, science and engineering, has long been a magnet for controversy. Tech companies say they need the visas to get scarce talent, while labor advocates contend that it allows companies to hire cheaper foreign workers instead of Americans.
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Amazon is hiring more foreign H-1B workers than Google and Facebook combined (AMZN, FB, GOOG)
-
A fake chain message on Snapchat says all your 'Memories' will be deleted if you don't share it — Don't worry, it's not true (SNAP)
There is a fake screenshot making the rounds on Snapchat, saying that the app plans to delete the saved photos, aka "Memories," of users who do not share the image with all their friends.
Snapchat confirmed that the rumor is not true on Tuesday, via an official Twitter account.
It is unclear how many people shared the fake announcement.Snapchat's support team tweeted a warning to users Tuesday about a fake announcement making the rounds, saying that the app would be deleting all the saved -
Barclays: Salesforce is facing a 'new competitive reality' in M&A and Microsoft has an important edge (CRM, MSFT)
Wall Street has high expectations for Salesforce's financial performance, but the company has an important weak spot.
Salesforce's low margins and free cash flow will become increasingly detrimental as the company competes in the M&A arena with deep-pocketed rivals, Barclays says.
Salesforce lost its bid for LinkedIn to Microsoft in 2016 because it wasn't able to do an all-cash deal.If Salesforce wants to stay in Wall Street's good graces for the long term, management is going to have -
Stocks get whacked after the 10-year hits 3%
Stocks nosedived Tuesday, with the Dow Jones industrial average sinking 600 points at session lows. The selling came after the 10-year Treasury yield hit 3%, spooking markets. The dollar edged lower after a week of gains.
Here's the scoreboard:
Dow Jones Industrial Average: 24,023.93 −424.76 (-1.74%)
S&P 500: 2,623.41 −46.88 (-1.76%)
AUD/USD: 0.7609 +0.0002 (+0.03%)
ASX 200 SPI futures: 5,869.0 -5 (-0.09%)The 10-year T -
Stocks tumble after the 10-year hits its highest level since 2014
US stocks tumbled Tuesday after the closely watched 10-year Treasury yield climbed above the 3% level for the first time since 2014.
Selling was also pronounced in the tech sector after Google's quarterly earnings report disappointed investors.
Follow the Dow Jones industrial average.
US stocks tumbled Tuesday after the closely watched 10-year Treasury yield climbed above 3% for the first time since 2014. Selling in mega-cap tech stocks also put pressure on major indexes.
The Dow Jones industria -
Here are all the Japanese cars made in the USA
Dozens of Japanese vehicles are built at plants in the US.
The factories are in the southern US and have been in operation in some cases for decades.
They employ thousands of Americans.
President Donald Trump made some confusing statements about American and Japanese cars.
Last year, Trump argued that more American vehicles should be sold in Japan, where historically almost no American cars have been on the market. But he also seemed to misunderstand that Japanese automakers have been building v -
Amazon's dropping as part of a broader tech sell-off (AMZN)
Amazon shares are diving as part of a broader tech sell-off on Tuesday.
All three major US indices are down, after the US 10-year treasury yield hit 3%.
Amazon shares are down more than 4% to an intraday low of $1,448.64 a share Tuesday, as part of a broader tech sell-off.
Amazon isn't the only FANG stock to drop Tuesday. Facebook is down more than 3.5%, while Alphabet is down 5%, as its better-than-expected earnings results were outweighed by its soaring costs. Netflix is down more t -
Paypal has one big hurdle to clear with Venmo (PYPL)
PayPal is set to report its quarterly results after Wednesday's closing bell.
Investors are waiting for PayPal's plan to monetize Venmo.
RBC sees 29% growth in Total Payment Volume but also sees a decrease in the take rate due to Venmo.
If the company can monetize Venmo, RBC predicts an additional $0.09 of earnings per share in fiscal year 2018.
Watch PayPal trade in real time here.
Paypal, the digital-payments giant, is getting ready to report its quarterly results following Wednesday's closing -
Netflix continues to sink after its junk bond announcement
Shares of Netflix sank more than 4% Tuesday, their second decline in two days after the company announced an offering of $1.5 billion in junk bonds.
The new debt will be used for “general corporate purposes,” Netflix said, which will almost definitely include more investment in original content. The company has confirmed it plans to spend $8 billion on up to 700 new shows this year.
On it's most recent quarterly report, Netflix said it has amassed $6.54 billion in long-term -
Steve Cohen is backing a former Amex exec solving a financial pain point facing 35% of the American workforce
Steve Cohen's Point72 Ventures has led a $3 million seed fundraising round for Extend, a New York-based fintech company.
The company aims to make life easier for the millions of Americans freelancing.
A financial technology startup has snagged $3 million to take advantage of a pain point impacting the millions of freelancers in the US.
Extend, a New York-based firm, told Business Insider Tuesday that it raised the investment in a seed fundraising round led by Steve Cohen -
Apple will start paying $16 billion in back taxes to Ireland (AAPL)
Apple was hit by the European Commission with a $16 billion bill for back taxes in 2016.
It's starting to pay the funds into an escrow account.
Apple will appeal the ruling.
It's time for Apple to pay the tax man.
Apple has to pay €13 billion, or about $16 billion, as part of a record-breaking back tax judgment from August 2016.
Basically, the European Commission, led by Margrethe Vestager, said that Apple had received special treatment from Ireland that ended up cutting its tax bill by bil -
Caterpillar tanks in broader selloff and after executives say first-quarter earnings represent 'high watermark' for the year (CAT)
Caterpillar reported first-quarter profit and revenue that topped Wall Street's forecasts.
The maker of large industrial equipment raised its forecast for earnings this year, as it expects demand from its clients to increase.
Its stock opened higher for trading, but gave up gains after executives said on the earnings call that the first-quarter profit per share was a "high watermark" for the year.
Caterpillar's outlook on the global economy is often used as a temperature check -
A Facebook bear outlines 2 big risks to watch ahead of earnings (FB)
Facebook reports first-quarter earnings Wednesday after the closing bell.
Regulation and limits to global digital advertising growth are core components to Pivotal Research analyst Brian Wieser's bear case for Facebook.
Facebook is down more than 3% ahead of the earnings report.
Facebook faces considerable risk on two serious fronts, according to one of the most bearish Wall Street street analysts covering the stock: regulation, and the plateauing digital-advertising market.
The social media com -
Stocks are tumbling after the 10-year hits its highest level since 2014
US stocks tumbled Tuesday after the closely watched 10-year Treasury yield climbed above the 3% level for the first time since 2014.
Selling was also pronounced in the tech sector after Google's quarterly earnings report disappointed investors.
Follow the Dow Jones industrial average.
US stocks tumbled Tuesday after the closely watched 10-year Treasury yield climbed above 3% for the first time since 2014. Selling in mega-cap tech stocks also put pressure on major indexes.
The Dow Jones industria -
The dollar's getting stronger — and that could be bad news
The dollar has been rallying against other major currencies over the past week.
But some think it could be strengthening for negative reasons.
Follow the dollar in real time here.
Whether a strong dollar is a good or bad thing remains highly debated among economists. But there is generally one consensus among them — it's important to look at why the dollar is moving.
The greenback has jumped more than 1.5% against the yen and euro since last Monday. And it's made even bigg -
Millennials almost killed Diet Coke — now they're fueling its turnaround (KO)
Diet Coke finally reversed its downward spiral, Coca-Cola reported on Tuesday.In January, Diet Coke launched new flavors, packaging, and advertising in an attempt to win over millennial customers.
Coca-Cola CEO James Quincey said that the company is considering adding "new, interesting" varieties to the Diet Coke line up, after flavors like Feisty Cherry and Twisted Mango helped win over millennial shoppers.
After years of struggle, Diet Coke is finally on the cusp of a turnar -
Facebook is sliding after publishing a list of rules about what is and isn't allowed on the platform (FB)
Facebook published a list of guidelines on objectionable content, violent and criminal behavior, and intellectual property Tuesday morning.
Shares are down more than 3%.
Facebook reports earnings after Wednesday's closing bell.
Facebook shares are lower by 3.2% at $160.53 apiece Tuesday after the company published a list of guidelines on objectionable content, violent and criminal behavior, and intellectual property.
The announcement from Facebook is the latest attempt by t -
Americans just made a major about-face on the stock market for the first time since Trump's election
For the first time since the election in 2016, more Americans expect stocks to fall over the next 12 months than rise, according to Conference Board's Consumer Confidence survey in April.
Stocks peaked in January 2018 after a 22% surge in the prior year.
Americans have turned on the stock market — for now.
More people expect the stock market to fall over the next year than people who predict the opposite, according to the Conference Board's April survey of consumers.
The index that t -
Steve Mnuchin is scrambling to head off Trump's possible trade war with China
President Donald Trump said Treasury Secretary Mnuchin will go to China in the coming days.
The meeting will come amid increased tensions due to new tariffs and trade restrictions.President Donald Trump on Tuesday said Treasury Secretary Steven Mnuchin will head to China in the coming days as the administration attempts to repair the fraying trade relationship between China and the US.
Mnuchin suggested over the weekend that a trip to China was possible. Many analysts believed the move could be -
CRYPTO INSIDER: The oldest bitcoin exchange is for sale
Welcome to Crypto Insider, Business Insider’s roundup of all the bitcoin and cryptocurrency news you need to know today. Sign up here to get this email delivered direct to your inbox.European cryptocurrency exchange Bitstamp is up for sale, according to people familiar with the deal, and a South Korean gaming company is said to be in pole position to acquire it. The price is said to be around $350 million.
Here are the current crypto prices:In the news:& -
GM should spin off Cadillac because it has the chance to perform like Maserati and Ferrari, analyst says (GM)
General Motors should spin off Cadillac much like Fiat Chrysler did with Ferrari, Morgan Stanley says.
The bank estimates Cadillac could be worth $15 billion as an independent business.
Follow GM's stock price in real-time here.
General Motors’ wildly successful Cadillac brand could be worth $15 billion, Morgan Stanley estimates, and deserves an existence outside of GM’s usual structure in order to flourish.
"We continue to see Cadillac as a distinct and highly valuable b -
MORGAN STANLEY: Here are the 10 tech companies most likely to get acquired in the next 12 months
Corporate mergers and acquisitions in the US are rebounding this year.
Thanks to tax cuts, companies have access to more cash they can spend on deals. According to Morgan Stanley, M&A offer intensity, the number of offers relative to the number of stocks, increased to 3.2% in the first quarter from 2.5% in the fourth.
Among S&P 500 sectors, tech saw the second-largest increase.
Morgan Stanley identified 10 tech companies that are the most likely to receive tender offers -
The remains of Yahoo just got hit with a $35 million fine because it didn't tell investors about Russian hacking (AABA)
In 2014, Yahoo was hacked by a state-sponsored actor identified as Russia.
Investors didn't learn about the incident until 2016.
The US Securities and Exchange Commission fined Altaba, the holding company that owns the remains of Yahoo, to settle accusations the company did not properly consider whether to inform investors at the time.
The US Securities and Exchange Commission announced Tuesday that Altaba, the holding company that owns the remnants of Yahoo, agreed to pay a $35 mill -
A new report shows that one of the biggest breaks in Trump's tax law will go to the richest Americans
A new report from the congressional Joint Committee on Taxation analyzed benefits from different parts of the new GOP tax law.
The JCT found the new deduction for pass-through business will heavily benefit the wealthiest Americans.
Americans making over $1 million a year, who make up 0.3% of all tax filers, will receive 44.3% of the total benefit from the pass-through deduction.
A new report from the Joint Committee on Taxation found that a provision from the Republican tax law designed to help -
Jim Cramer has done a complete 180 on Snap (SNAP)
"Mad Money" host Jim Cramer has changed his tune on Snap almost 2 months after comparing the company to the early days of Facebook.
Cramer identifies the app's unpopular redesign as the main culprit and says the stock is too expensive at the moment.
He says he would consider buying in the future.
Watch Snap trade in real time here.
Jim Cramer is turning his back on Snap.
The "Mad Money" host, who sometimes has enough influence to move stocks, likened the company to an early Facebook after t -
FIFA World Cup 2018: The Marketing Week blog
23 April – Mars Wrigley Confectionery launches ‘The Sweepstake’ to entice football fans
Mars Wrigley Confectionery UK is launching an on-pack promotion in the run up to the World Cup, offering consumers the chance to win millions of prizes, including products and cash, as part of its tie-up with the England football team
‘The Sweetstake’ will run across 11 brands, including Mars, Maltesers, Skittles and Starbursts. More than 100 million promotional packs w -
A top strategist warns the 'intellectual health of society' is in danger — and explains why investors should be very worried
Facts and evidence have started taking a backseat to opinion, and that mentality is bleeding into investing, according to Bernstein.
The firm scoured more than 5 million books spanning 500 years in an attempt to provide quantifiable evidence of this trend.
Bernstein argues this is a harmful mindset that distorts investor perception, and could pose problems as the market enters a late-cycle environment.
If you've spent any time at all on Twitter, you've surely realized that facts and evidence oft -
Ben Davis: Retailers should look to Ikea for tech inspiration
How can we improve brick and mortar stores? Well, despite editing the Econsultancy blog – a home for digital marketing, ecommerce and digital business types – I am certainly no campaigner for consumer-facing digital tech on the high street.
Off-the-shelf tech (no pun intended) has traditionally disappointed, whether it be the screen in the corner that nobody uses, beacons pushing messages that nobody wants, or another overly complex example with a user experience (UX) far inferi -
Heineken on why craft needs a ‘reverse’ marketing approach
Heineken is adopting a “reversed” marketing approach for its smaller brands and craft beers as it looks to retain their authenticity and build out awareness.
At an event in Amsterdam last week, Walter Drenth, senior global director international brands at Heineken, explained that craft brands require a fundamentally different approach compared to scaled brand building. This means starting its communications with consumers who are already passionate about the brand, which spreads to & -
Marketoonist on the 5 stages of data privacy grief
Tom Fishburne is founder of Marketoon Studios. Follow his work at marketoonist.com or on Twitter @tomfishburne
See more of the Marketoonist here
The post Marketoonist on the 5 stages of data privacy grief appeared first on Marketing Week. -
The 10-year hits 3% for the first time since 2014
The 10-year yield climbed above 3% for the first time since January 2014.
The yield has been rallying amid worries President Donald Trump's tariffs are going to spark inflation.
Those worries have some suggesting four Fed rate hikes could be back in the picture for 2018.
The US 10-year yield has finally reached the elusive 3% level Tuesday morning.
The benchmark yield flirted with the level all day Monday, but it was Tuesday's stronger than expected Case-Shiller home prices that pushed it throug -
The 10-year hit the key 3% level for the first time since 2014 — and it could have big implications for stocks
The 10-year yield climbed above 3% for the first time since January 2014.
The yield has been rallying amid worries that tariffs announced by President Donald Trump will spark inflation.
Those worries have some suggesting four rate hikes by the Federal Reserve could be back in the picture for this year.
Stock traders have been wary of rising interest rates, worrying it could dampen interest in shares.
Yields on 10-year Treasury notes on Tuesday morning finally reached the elusive 3% level, which -
Google-parent Alphabet slides after earnings (GOOGL)
Alphabet reported first quarter earnings that beat analyst expectations on Monday
However, the results didn't assuage many of Wall Street's biggest worries around regulation.
The fees Google pays to partner web sites, known as TAC, continued to increase as a percentage of revenue.
Shares sank in after-hours trading following the earnings report.
Follow Alphabet's stock price in real-time here.
Shares of Alphabet, the parent company of Google, slumped more than 2.5% at the opening bel -
Google-parent Alphabet sinks after earnings (GOOGL)
Alphabet reported first quarter earnings that beat analyst expectations on Monday
However, the results didn't assuage many of Wall Street's biggest worries around regulation.
The fees Google pays to partner web sites, known as TAC, continued to increase as a percentage of revenue.
Shares sank in after-hours trading following the earnings report.
Follow Alphabet's stock price in real-time here.
Shares of Alphabet, the parent company of Google, slumped more than 2.5% at the opening bel -
A South Korean gaming company is said to be in talks to buy Bitstamp, the world’s oldest bitcoin exchange
European cryptocurrency exchange Bitstamp is up for sale, according to people familiar with the deal, and a South Korean gaming company is said to be in pole position to acquire it.
The price is said to be around $350 million, according to two of the people.
Bitstamp is the oldest surviving bitcoin exchange and the only licensed exchange in Europe.
LONDON — Bitstamp, the world's oldest surviving bitcoin exchange, is up for sale, according to people familiar with the matter, and a Sout -
Bitcoin hits its highest levels in over a month as crypto markets rebound
Bitcoin surged past the $9,000 mark Tuesday, making for its highest level since March 14.
The total market for cryptocurrencies has risen 74% in less than a month as digital tokens rebound from tax season.
Follow the price of bitcoin in real-time here.
The price of bitcoin was up more than 4% Tuesday, as high as $9,350 per coin, continuing a streak of gains that have pushed the world’s largest cryptocurrency to its highest price since mid-March.
Most cryptocurrencies saw a slight dec -
Harley-Davidson beats on earnings and shares are rising in pre-market trading (HOG)
Harley-Davidson beat estimates for Q1 earnings.
The motorcycle maker still saw deep declines in US sales.Harley-Davidson posted a beat for first-quarter earnings on Tuesday. The iconic American motorcycle maker made $1.03 per share on a non-adjusted basis, surpassing analysts' expectations of $1.01.
Total revenue for the quarter was $1.36 billion.
Harley saw a 12% decline in US sales for the quarter, a sign that the structural weakness in the company's home market is continuing.
The motorc -
Caterpillar surges after beating on earnings and delivering great news about the global economy (CAT)
Caterpillar reported first-quarter profit and revenue that topped Wall Street's forecasts.
The maker of large industrial equipment raised its forecast for earnings this year, as it expects demand from its clients to increase.
Caterpillar's outlook on the global economy is often used as a temperature check because its equipment is used for massive capital projects.
Watch Caterpillar trade in real time here.
Caterpillar shares jumped by as much as 4% premarket on Tuesday after the company re -
Oil briefly tops $75 a barrel
Oil prices briefly hit fresh highs early Tuesday, rising to levels not seen since 2014.
Brent crude oil topped $75 a barrel.
Prices inched lower around 8:30 a.m. ET.
Follow oil prices in real time here.
Oil prices briefly surged to fresh three-year highs Tuesday morning before falling again.
Brent, the international benchmark, surged as high as $75.27 a barrel overnight — a level not seen since 2014. By 8:30 a.m. ET, it had slipped more than 1% to $74.15. West Texas Intermediat -
Google-parent Alphabet sinks after its earnings report (GOOGL)
Alphabet reported first quarter earnings that beat analyst expectations on Monday
However, the results didn't assuage many of Wall Street's biggest worries around regulation.
The fees Google pays to partner web sites, known as TAC, continued to increase as a percentage of revenue.
Shares sank in after-hours trading following the earnings report.
Follow Alphabet's stock price in real-time here.
Shares of Alphabet, the parent company of Google, surged as much as 4% after the company re -
One in 5 finance firms is considering trading cryptocurrencies
Thomson Reuters survey: 20% of 400 finance firms surveyed are considering launching crypto trading with the next 12 months.
Crypto trading remains a niche activity in mainstream finance but interest is growing and could support price growth.
Goldman Sachs recently hired its first cryptocurrency professional and is considering launching a trading desk.
You can follow live cryptocurrency prices on Markets Insider.LONDON — A fifth of finance firms are considering getting into cryptocurrency t -
Don't be fooled by retail's market resurgence — one Wall Street firm explains why the worst is yet to come for brick-and-mortar stocks
Retail stocks in the S&P 500 have beaten the broader index so far in 2018, but Morgan Stanley says that outperformance is misleading.
The firm argues conditions for traditional retailers are in much more dire shape than they appear, and says an index tracking the sector is being carried by two non-traditional components.
2018 has been kind to retail stocks — at least for the most part.
Sure, companies like Sears are still figuring out out how to grapple with increasingly difficult indu -
Morgan Stanley identified 12 trades to protect you from a stock market meltdown
Bonds are losing their attractiveness as a way to diversify an equity portfolio, according to cross-asset strategists at Morgan Stanley.
They examined several other asset classes to find the cheapest alternatives that historically do not correlate with stocks' trading direction.
The strategists found 12 alternative trades that could help investors offset an equity market sell-off.
It's not news anymore: bonds don't yield what they used to.
The 60-40 equities-fixed income portfolio wa -
'Money talks': A $1.2 trillion fund manager is about to pull investment from companies that won't act on climate change
A UK firm managing assets of $1.2 trillion will pull its investment from companies that fail to act on climate change.
Helena Morrissey, head of personal investing at Legal and General, said they will be “naming and shaming” these companies next month.
"There comes a time when talk is over, and it’s time to vote with our feet… Money talks as they say," said Morrissey.
LONDON — Legal and General, which oversees more than $1.2 trillion in assets, said it w -
One in 5 finance firms are considering trading cryptocurrencies
Thomson Reuters survey: 20% of 400 finance firms surveyed are considering launching crypto trading with the next 12 months.
Crypto trading remains a niche activity in mainstream finance but interest is growing and could support price growth.
Goldman Sachs recently hired its first cryptocurrency professional and is considering launching a trading desk.
You can follow live cryptocurrency prices on Markets Insider.LONDON — A fifth of finance firms are considering getting into cryptocurrency t -
Helen Tupper: If you want to make an impact in your career work out why you’re unique
It is said that feedback is a gift, but it can also represent a risk to you and your career.
Feedback often comes from someone in your organisation viewing you in the context of that organisation. It might be that you’re not quite as assertive as everyone else, or you’re too collaborative or maybe you’re not structured enough in your thinking.
While there may be some useful insights for your development in this feedback, too much conformity to organisational norms can result in -
Seamless Middle East 2018 energized retail with omnichannel customer experience focus
via retailpro.comSeamless Middle East 2018, was hosted last week at Dubai International Convention Centre, bringing together the industry’s leaders in commerce, fintech, retail and payments at the Middle East’s most inspiring summit and technology exhibition. H.H. Lt. General Sheikh …
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Google tripled spending on property and computers to $7.3 billion in Q1 — and the CFO says it's not a 'one off' (GOOG, GOOGL)
Alphabet's capital expenditures nearly tripled in the first quarter.
Alphabet CFO Ruth Porat said some of the costs were due to the purchase of the Chelsea Market, home to Google's New York headquarters.
But there's something else driving Google's capex spending, and it's not going away.
Alphabet gave investors a difficult pill to swallow when it reported Q1 earnings on Monday: Staying ahead in the internet business today is incredibly expensive.
How expensive? $7.3 billion.
That's -
WARC Awards: Social shortlist announced
GLOBAL: Campaigns from Mars, Nestlé Waters and GSK are among the 20 from around the world that have been shortlisted in the Effective Social Strategy category in the 2018 WARC Awards.The panel of 15 judges, led by Elizabeth Windram,... -
Sky leads traditional media spend in the UK
LONDON:Sky, the entertainment and communications company,was the biggest advertiser on traditional media (i.e. excluding internet advertising) in the UK in 2017, spending £197.1m over the year according to new data from Nielsen.The...
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