
'Indian managers refuse to hire Americans': Republican leader says Trump's legacy will end if he makes a job deal with India
Tired of too many ads? go ad free now
Bierschwale has been speaking against H-1B visa programs consistently, demanding an end to it so that US tech workers are not robbed of their job. "Americans have had enough of being discriminated against in their own country by Indian managers who refuse to hire Americans or work with them," Bierschwale said. "This is the reason a nobody like myself stands a very good chance of winning over the moneyed @JohnCornyn and @KenPaxtonTX," he wrote referring to incumbent Texas senator John Cornyn who never lost an election in Texas.
Attorney General Ken Paxton announced he was running for Senate in April.
"Nobody is standing up for Americans which leaves them nowhere to go other than demand that Americans truly be put first in America which is the opposite of what president trump and his billionaires of his round table are doing and why even though I believe it is morally wrong, our business leaders will understand why Luigi was targeting them," Biershwale wrote referring to the assassination of UnitedHealth CEO Brian Thompson.
The Republican leader's statement came as US is negotiation a trade deal with India. Some reports claimed that India sought greater access to labor-intensive industries like textiles, plastics and chemicals.
"I think we are going to have a deal with India. And that is going to be a different kind of a deal. It is going to be a deal where we are able to go in and compete. Right now, India does not accept anybody in. I think India is going to do that, and if they do that, we are going to have a deal for much less tariffs," Trump said earlier. On April 2, "Liberation Day". Trump announced a 26 per cent duty on Indian imports but suspended it as tlks were going on.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Fibre2Fashion
30 minutes ago
- Fibre2Fashion
India's apparel exports to Brazil jump 31% in Q1 2025
Insights Indian PM Narendra Modi's visit to Brazil, Argentina, Ghana, Trinidad & Tobago, and Namibia has underscored growing trade ties, particularly in textiles. India's apparel exports to Brazil rose * * per cent year-on-year in Q * * * * * , with cotton imports from Brazil also surging due to high domestic prices. per cent year-on-year in Q , with cotton imports from Brazil also surging due to high domestic prices. Exports to Argentina, Ghana, and Trinidad & Tobago also showed moderate growth. To read the full story, become a PRIME member today. All Corporate Members and TexPro Subscribers are eligible to access F2F PRIME CONTENT using the same login credentials. Latest News Insights Latest News Insights Exclusive Industry Articles & Features Exclusive Industry Articles & Features Detailed Article Analytics & Insights Digital Edition of Fibre2Fashion Magazine Digital Edition of Fibre2Fashion Magazine Get notified in your mailbox

The Hindu
35 minutes ago
- The Hindu
Nvidia set to become world's most valuable company in history
Nvidia was on track to become the most valuable company in history on Thursday, with the chipmaker's market capitalisation reaching $3.92 trillion as Wall Street doubled down on optimism about AI. Shares of the leading designer of high-end AI chips were up 2.2% at $160.6 in morning trading, giving the company a higher market capitalisation than Apple's record closing value of $3.915 trillion on December 26, 2024. Nvidia's newest chips have made gains in training the largest artificial-intelligence models, fuelling demand for products by the Santa Clara, California, company. Microsoft is currently the second-most valuable company on Wall Street, with a market capitalization of $3.7 trillion as its shares rose 1.5% to $498.5. Apple rose 0.8%, giving it a market value of $3.19 trillion, in third place. A race among Microsoft, Meta Platforms, Alphabet and Tesla to build AI data centers and dominate the emerging technology has fuelled insatiable demand for Nvidia's high-end processors. "When the first company crossed a trillion dollars, it was amazing. And now you're talking four trillion, which is just incredible. It tells you that there's this huge rush with AI spending and everybody's chasing it right now," said Joe Saluzzi, co-manager of trading at Themis Trading. The stock market value of Nvidia, whose core technology was developed to power video games, has increased nearly eight-fold over the past four years, from $500 billion in 2021. Nvidia is now worth more than the combined value of the Canadian and Mexican stock markets, according to LSEG data. The tech company also exceeds the total value of all publicly listed companies in the United Kingdom. Nvidia recently traded at about 32 times analysts' expected earnings for the next 12 months, below its average of about 41 over the past five years, according to LSEG data. That relatively modest price-to-earnings valuation reflects steadily increasing earnings estimates that have outpaced Nvidia's sizable stock gains. The company's stock has now rebounded more than 68% from its recent closing low on April 4, when Wall Street was reeling from President Donald Trump's global tariff announcements. U.S. stocks, including Nvidia, have recovered on expectations that the White House will cement trade deals to soften Trump's tariffs. Nvidia holds a weight of nearly 7.4% on the benchmark S&P 500 . Nvidia's swelling market capitalisation underscores Wall Street's big bets on the proliferation of generative AI technology, with the chipmaker's hardware serving as the foundation. Co-founded in 1993 by CEO Jensen Huang, Nvidia has evolved from a niche company popular among video game enthusiasts into Wall Street's barometer for the AI industry. The stock's recent rally comes after a slow first half of the year, when investor optimism about AI took a back seat to worries about tariffs and Trump's trade dispute with Beijing. Chinese startup DeepSeek in January triggered a selloff in global equities markets with a cut-price AI model that outperformed many Western competitors and sparked speculation that companies might spend less on high-end processors. In November of last year, Nvidia took over the spot on the Dow Jones Industrial Average formerly occupied by chipmaker Intel, reflecting a major shift in the semiconductor industry toward AI-linked development and the graphics processing hardware pioneered by Nvidia.
&w=3840&q=100)

Business Standard
38 minutes ago
- Business Standard
Rupee bond rush set to ease as RBI signals limited scope for rate cuts
Aggressive liquidity infusions and a series of rate cuts this year, most recently a surprise 50 basis point cut to 5.5 per cent in June, pushed yields to the lowest in three years Bloomberg India's busy local-currency rupee bond market is poised to slow after the country's central bank hinted room for further rate cuts could be limited. Aggressive liquidity infusions and a series of rate cuts this year, most recently a surprise 50 basis point cut to 5.5 per cent in June, pushed yields to the lowest in three years and spurred a flurry of issuance as borrowers sought to lock in lower rates. As a result, Indian companies raised a record ₹6.6 trillion ($77.1 billion) through local-currency notes in the first half of the year, up 29 per cent from the year prior, according to data compiled by Bloomberg. 'Issuance will remain fairly strong, but the pace will not be as frenetic as before,' said Shameek Ray, executive vice president at ICICI Securities Primary Dealership Ltd., pointing to limited room for borrowing costs to fall further. Yields on Indian debt have since started to climb. After touching the lowest since 2022 on June 6, average yields on top-rated three-year company notes have risen 13 basis points, as of Wednesday. Still, the recent increases have only pared the drop in financing costs this year. Monetary policy emerged as the key driver for corporate debt sales in India this year as falling rates lured conglomerates to the market. Grasim Industries Ltd. secured its lowest-cost onshore note since 2020 and the ports unit of Adani Group raised a record sum from the domestic bond market. Jio Credit Ltd., a shadow lender owned by tycoon Mukesh Ambani, sold its first-ever bond. 'Inquiries from companies about bond fundraisings have increased,' said Jigar Vaishnav, director at Tipsons Group. 'Abundant liquidity and cheaper borrowing costs have also prompted many companies to borrow locally rather than tapping offshore. It has been a very busy time on the desk.' Still, global uncertainties and weaker capital spending due to slower economic growth could hurt corporate bond sales in the second half of the year, said Aditi Mittal, director at A.K. Capital Services Ltd., the third biggest rupee bond banker this year.