Business
California's tech titans say H-1B visas are vital. Will Trump defy MAGA and support them?
WASHINGTON — Of all the rich and powerful people cozying up to President-elect Donald Trump, few have rushed to Mar-a-Lago faster than the crowned heads of big tech, including California’s own chiefs of Google and Meta.
And few have a stronger motive to curry Trump’s favor than Silicon Valley: The fate of the H-1B visa program that permits foreign-born computer scientists, engineers and other highly skilled workers to migrate to the United States hangs in the balance.
Support for retaining H-1B from Elon Musk, the incoming president’s new closest associate, has stirred rage through much of Trump’s MAGA base, which is against immigration in almost any form. But keeping the pipeline open for tech and other skilled workers is seen by many business leaders as critical for the American economy, especially in California.
The state is by far the biggest user of the H-1B. More than 9,600 employers in California sought clearance for at least one H-1B worker in fiscal 2024, with 78,860 visa applications for new and continuing employment being approved, according to data from U.S. Citizenship and Immigration Services (USCIS).
They include all kinds of skilled work in various industries, including nurses and science teachers. But the top 10 beneficiaries of H-1B visas in California — accounting for almost one-third of all the approvals — were dominated by tech giants, most of them in the Bay Area.
“Those companies are the ones that can afford to hire outside firms that navigate the paperwork, the bureaucracy, and can jump through the hoops,” said Todd O’Boyle, who leads technology policy at the Chamber of Progress, a group backed by big tech firms.
The number of H-1B visas for new employment is capped at 65,000 a year nationally. An additional 20,000 are set aside for foreign nationals who have earned a master’s degree or higher in the U.S. H-1B visas are good for three years but can be extended for up to another three years.
Tech companies in California and elsewhere have relied on the program even as they made massive job cuts following the pandemic, during which many went overboard on hiring and other spending.
The fact that tech companies have fired thousands of American workers while hiring large numbers of foreign workers has added to the fury of anti-immigration Trump supporters, who have long argued immigrants take jobs away from Americans by working for less pay.
The question of whether that claim is valid does not have an easy or simple answer.
U.S. graduate school students in engineering and the sciences are disproportionately foreign-born, and even with that there are shortages of some highly skilled workers, particularly in high-tech engineering and emerging areas such as artificial intelligence.
Nvidia, the major Santa Clara supplier of AI hardware and software, got H-1B visa approvals for more than 1,500 workers last year in California, according to USCIS data. The company declined to comment, and other top tech users of the H-1B, including Google, Meta and Apple, didn’t immediately respond to requests for comment.
“If you lay off a programmer, it’s not the same skill set as somebody who has a post-doctorate in AI, so you have to look at the skills that are sought and why,” said Rep. Zoe Lofgren (D-San José), who sits on the House Subcommittee on Immigration and Citizenship.
But she said the H-1B isn’t without its challenges, pointing to cases in the past at UC San Francisco and Southern California Edison in which U.S. workers were reported displaced by lower-paid H-1B visa holders.
Employers who hire H-1B workers are required to pay wages at least as much as for similar U.S. professionals, but there are abuses. Lofgren said systemic improvements are needed, including stronger analysis on skill sets for the jobs available and more robust advertising on openings.
What’s more, workers from India dominate H-1B visas, in part because there are country quotas for permanent immigration, and temporary work visas are seen as a bridge to that, although the wait is often many years.
“People say the immigration system is broken, and this is part of the brokenness,” Lofgren said, adding that especially for California, “our economy is dependent on, and our prosperity is tied to, immigrants.”
The acrimony over the H-1B in recent days spiraled after far-right activist Laura Loomer attacked H-1B as a threat to American workers and national security.
She and other critics of worker visas say they lead to fewer jobs for U.S. workers, but academic research over the years has found little evidence to support that claim overall. And although some laid-off workers have been forced to retire or switch careers, studies have found many also have been re-employed relatively quickly.
For computer and mathematical occupations, the November unemployment rate was just 2.5%, up from 1.7% a year ago; and it was unchanged at 2% for architectural and engineering occupations, according to the U.S. Bureau of Labor Statistics.
Loomer suggested a major clash ahead between immigration hardliners like Stephen Miller, named as Trump’s deputy chief of staff for policy, and those including Vivek Ramaswamy, the former Republican presidential candidate who with Musk has been charged by Trump to cut government spending and regulation.
Musk, the world’s richest person who runs Tesla and SpaceX and is himself an immigrant and onetime H-1B visa holder, has come out championing the hiring of skilled foreign workers.
The visa program has certainly helped Tesla, which this fiscal year received H-1B approvals for 1,765 new and continuing workers, although SpaceX has grown with little benefit of H-1B workers. (Musk moved Tesla’s headquarters to Austin from Palo Alto at the end of 2021, and said this year that he was relocating SpaceX to Texas as well.)
“OF COURSE my companies and I would prefer to hire Americans and we DO, as that is MUCH easier than going through the incredibly painful and slow work visa process,” Musk wrote on Christmas Day on his social media platform, X. “However, there is dire shortage of extremely talented and motivated engineers in America.” He added: “It comes down to this: do you want America to WIN or do you want America to LOSE. If you force the world’s best talent to play for the other side, America will LOSE.”
Trump on Saturday seemed to side with Musk.
“I’ve been a believer in H-1B. I have used it many times,” he told the New York Post. “It’s a great program.”
(Trump’s businesses have used predominantly the H-2B program, which are for temporary seasonal workers that hotels and tourist businesses, for example, make heavy use of during summer. H-2A is for temporary farm workers.)
Despite his record and promises to seal the borders and deport millions of undocumented immigrants, Trump’s remarks raised hopes among some immigration advocates that the incoming president could take a softer tack on H-1B visas.
In his first term, Trump’s team made it a lot tougher for employers to get H-1B approvals, and denial rates jumped above 20% in fiscal years 2018 and 2019, triple the average of the prior administration, according to the National Foundation for American Policy, a Washington think tank that favors higher levels of immigration.
“At minimum it muddies the waters,” said Stuart Anderson, the group’s executive director. “It could signal a neutral policy rather than a hostile one.”
Stephen Yale-Loehr, an immigration expert at Cornell Law School, said that despite the deficiencies in H-1B, he believes that “most employers try to follow the rules. At the macro-level H-1B workers are helping our economy and creating more jobs for U.S. workers.”
Entrepreneurs, in particular, have talked about skilled worker visas as being critical for their growth.
Yale-Loehr also noted that recent changes have given U.S. immigration officials greater authority to tighten up the H-1B program, including imposing penalties and inspections.
That could strengthen enforcement and cut down on abuses, if Trump actually follows through on his supportive remarks.
“It’s too early to see. You’ve got some people in the administration like Elon Musk who want to preserve the H-1B category and other people like Stephen Miller who want to restrict all immigration, including H-1B,” Yale-Loehr said. “We’ll see which side wins over the four years of the Trump administration.”
Business
Polymarket Bets on Paris Temperature Prompt Investigation After Unusual Spikes
Early in April, Ruben Hallali got an unusual alert on his phone: The evening temperature at Paris Charles de Gaulle International Airport had jumped about 6 degrees Fahrenheit in seconds.
Mr. Hallali, the chief executive of the weather risk company Sereno, had set up notifications for extreme weather swings. Then, nine days later, it happened again.
“It was an isolated jump, at one single station, early in the evening,” said Mr. Hallali, who added that he noticed another strange coincidence about the spikes: The timing was just right for somebody to reap a windfall on the betting site Polymarket.
He wasn’t the only one who sensed a problem. Météo-France, the country’s national meteorological service, filed a complaint last week with the police and local prosecutors, saying it had evidence that a weather sensor at Charles de Gaulle, the country’s largest airport, may have been tampered with.
The temperature swings, experts said, coincided with a period of unusual activity on Polymarket, one of the leading online prediction markets, which allow users to wager on the outcome of virtually anything.
One increasingly popular area is weather betting, where speculators can make real-time wagers on temperature readings, rainfall totals, the number of Atlantic hurricanes in a year and much more — with payouts in the thousands of dollars and higher.
As the stakes rise, so has the temptation to tamper with the instruments used to generate weather readings in hopes of engineering a lucrative outcome. Experts warn that this could have dangerous ripple effects, like degrading the information that underpins safe air travel.
Temperature data is used in a host of calculations at airports, helping determine correct takeoff distance, climb rate and whether crews need to apply frost treatment to planes. It’s crucial to airport safety, Mr. Hallali said.
“The Charles de Gaulle incident is not an isolated curiosity,” Mr. Hallali said. “It is what happens when financial incentives meet fragile data infrastructure.”
On April 6, the temperature reading at Charles de Gaulle jumped from 64 degrees Fahrenheit to 70 degrees at 7 p.m., before slowly falling over the next hour, according to data from Météo-France.
On April 15, the recorded temperature climbed even more sharply, from 61 degrees at 9 p.m. to 72 at 9:30 p.m., then dropping back to 61 a half-hour later.
In both instances, the spikes set the high temperature for the day, the metric on which some Polymarket wagers rest.
Laurent Becler, a spokesman for Météo-France, said the service contacted the police after noticing the discrepancies in temperature data. He declined to comment further on the case, saying it was under investigation.
Mr. Hallali said that after the first instance, experts and commenters on the French weather forum Infoclimat began to search answers. Theories were floated, including user error. But after the second spike, commenters zeroed in on the unusual Polymarket wagers, which totaled nearly $1.4 million over the two days, according to the company’s data.
The sums bet on April 6 and 15 were hundreds of thousands of dollars higher than on typical days this month.
It is not the first time that strange bets on prediction markets have raised accusations of insider trading.
On Thursday, a U.S. Army special forces soldier who helped capture President Nicolás Maduro of Venezuela in January was charged with using classified information to bet on outcomes related to Venezuela, making more than $400,000 on Polymarket. Late last year, another trader on the site made roughly $300,000 betting on last-minute pardons from President Joseph R. Biden Jr. before he left office.
Polymarket did not immediately respond to a request for comment. While the site used to tie some bets to temperature readings at Charles de Gaulle, this week, after Météo-France filed its complaint, the platform began using temperatures taken at another airport near the city, Paris-Le Bourget, according to recent bets on the site.
Representatives for Charles de Gaulle airport declined to comment beyond saying that the case was under investigation. The airport police also declined to comment. The Bobigny Public Prosecutor’s Office, which is handling the case, declined to answer questions about the investigation but said that no complaint had been filed against Polymarket.
As to how the instruments could have been tampered with, a number of theories have been offered online, including by use of a hair dryer or a lighter. Mr. Hallali said that the precision of the spike on April 15 suggested the use of a calibrated portable heating device, although he declined to speculate about what kind.
“Markets are expanding into every domain where an outcome can be observed, measured, and settled,” he said. “As these markets multiply, so does the surface area for manipulation.”
Business
California’s jet fuel stockpile hits two-year low as war strangles oil supplies
As the war in Iran strangles the flow of oil around the globe, California’s jet fuel reservoirs are running low.
The state — which refines much of its own fuel in El Segundo and elsewhere but still relies on crude oil imports — has seen its jet fuel stock decline by more than 25% from last year’s peak to a level not seen since 2023, according to data from the California Energy Commission.
The supply is shrinking as a global shortage is already affecting travelers’ summer plans with canceled flights and higher fares. It could even affect plans for people coming to Los Angeles for the 2026 World Cup, which starts in June, said Mike Duignan, a hospitality expert and professor at Paris 1 Panthéon-Sorbonne University.
“People don’t know exactly how this is going to escalate,” he said. “There’s a huge black cloud over the sea for the World Cup and the travel slump that we’re seeing is all linked to this oil shortage.”
As fuel supplies shrink, flight prices are rising. Airlines are adding baggage surcharges to cover fuel costs. Several routes leaving from smaller California hubs, including Sacramento and Burbank, have already been canceled.
Air Canada has suspended flights for this summer, cutting routes from JFK to Toronto and Montreal.
“Jet fuel prices have doubled since the start of the Iran conflict, affecting some lower profitability routes and flights which now are no longer economically feasible,” the airline said in a statement last week.
Europe had just more than a month’s supply of jet fuel left last week, the International Energy Agency said. In an effort to cut costs, the German airline Lufthansa slashed 20,000 flights from its summer schedule this week.
Without a fresh oil supply flowing through the Strait of Hormuz, the situation is unlikely to improve, experts said. The oil reserves countries and companies have in storage are helping fill shortfalls, but the squeezed supply chain could still wreak economic havoc.
“When there’s a shortage somewhere, everything is affected,” said Alan Fyall, an associate dean of the University of Central Florida Rosen College of Hospitality Management. “Airlines are being cautious, and I would say that is a very wise strategy at the moment.”
California’s jet fuel stock reached its lowest levels in two and a half years at 2.6 million barrels last week, down from a peak of more than 3.5 million barrels last year.
The California Energy Commission, which tracks fuel inventory, said the state’s current jet fuel stock is sill sufficient.
“Current production and inventory levels of jet fuel are within historical ranges,” a spokesperson said. “Although supply is tight, no structural deficit has emerged yet. The present tightness reflects short‑term global market stress. As long as refinery operations remain stable, California is positioned to meet regional jet fuel needs.”
Europe has been affected more directly because it relies on the Middle East for the vast majority of its crude oil and many refined products, experts said. California gets crude oil from the Middle East but also from Canada, Argentina and Guyana.
The state has the capacity to refine around 200,000 barrels of jet fuel per day, most of it from refineries in El Segundo and Richmond.
The amount of crude oil originating in the state has been declining since the early 2000s, as state regulations and drilling costs have led to more imports.
California has become particularly vulnerable to supply-chain shocks like the war in Iran, says Chevron, one of the companies that provides jet fuel in the state.
“The conflict in the Mideast Gulf has exposed the danger of California’s decision to offshore energy production,” said Ross Allen, a Chevron spokesperson. “Taxes, red tape and burdensome regulations cost the state nearly 18% of its refinery capacity in just the past year, and we urge policymakers to protect the remaining manufacturing capacity.”
In 2025, 61% of crude oil supply to California’s refineries came from foreign sources, according to the California Energy Commission. Around 23% came from inside the state, down from 35% five years ago.
The state’s refining capacity has also been declining, said Jesus David, senior vice president of Energy at IIR Energy. The West Coast region’s refining capacity has decreased from 2.9 million to 2.3 million barrels a day since 2019, he said.
“California’s had issues prior to the war,” David said. “Nothing new has been built over the past 30 years, and California has closed a lot of capacity.”
The result is higher prices for both gasoline and jet fuel in the state. Jet fuel at LAX costs close to $15 per gallon this week, compared with almost $10 at Denver International Airport and $11 at Newark International Airport.
Gasoline prices have also been hit hard by the global conflict. Average gas prices in California are close to $6 a gallon, around $2 higher than the national average.
The West Coast is a “fuel island” because it’s not connected by pipelines to the rest of the country, United Airlines chief executive Scott Kirby said in an interview last month. That means oil and refined products have to be brought in by ships.
“Fuel price is more susceptible to supply weakness on the West Coast than anywhere else in the country,” Kirby said.
Some airlines might not survive the turmoil if oil prices don’t level out soon, he said. Spirit Airlines, a budget carrier based in Florida, is reportedly facing imminent liquidation if it isn’t bailed out by the Trump administration.
Business
Nike to Cut 1,400 Jobs as Part of Its Turnaround Plan
Nike is cutting about 1,400 jobs in its operations division, mostly from its technology department, the company said Thursday.
In a note to employees, Venkatesh Alagirisamy, the chief operating officer of Nike, said that management was nearly done reorganizing the business for its turnaround plan, and that the goal was to operate with “more speed, simplicity and precision.”
“This is not a new direction,” Mr. Alagirisamy told employees. “It is the next phase of the work already underway.”
Nike, the world’s largest sportswear company, is trying to recover after missteps led to a prolonged sales slump, in which the brand leaned into lifestyle products and away from performance shoes and apparel. Elliott Hill, the chief executive, has worked to realign the company around sports and speed up product development to create more breakthrough innovations.
In March, Nike told investors that it expected sales to fall this year, with growth in North America offset by poor performance in Asia, where the brand is struggling to rejuvenate sales in China. Executives said at the time that more volatility brought on by the war in the Middle East and rising oil prices might continue to affect its business.
The reorganization has involved cuts across many parts of the organization, including at its headquarters in Beaverton, Ore. Nike slashed some corporate staff last year and eliminated nearly 800 jobs at distribution centers in January.
“You never want to have to go through any sort of layoffs, but to re-center the company, we’re doing some of that,” Mr. Hill said in an interview earlier this year.
Mr. Alagirisamy told employees that Nike was reshaping its technology team and centering employees at its headquarters and a tech center in Bengaluru, India. The layoffs will affect workers across North America, Europe and Asia.
The cuts will also affect staffing in Nike’s factories for Air, the company’s proprietary cushioning system. Employees who work on the supply chain for raw materials will also experience changes as staff is integrated into footwear and apparel teams.
Nike’s Converse brand, which has struggled for years to revive sales, will move some of its engineering resources closer to the factories they support, the company said.
Mr. Alagirisamy said the moves were necessary to optimize Nike’s supply chain, deploy technology faster and bolster relationships with suppliers.
-
Finance44 seconds ago
Michigan Capital One customers may get get money in lawsuit settlement
-
Fitness7 minutes agoFitness Experts Share The Best Exercises To Keep You Fit At Every Age
-
Movie Reviews19 minutes ago‘Michael’ Review: A Perfect Puzzle With Major Missing Pieces
-
World31 minutes agoMelissa McCarthy Hits on Mariska Hargitay as ‘Law & Order: SVU’ Guest Star: ‘I Know My Way Around a Pair of Handcuffs’
-
News37 minutes agoA New Worry for Republicans: Latino Catholics Offended by Trump
-
Politics43 minutes agoTariffs Raised Consumers’ Prices, but the Refunds Go Only to Businesses
-
Business49 minutes agoPolymarket Bets on Paris Temperature Prompt Investigation After Unusual Spikes
-
Science55 minutes agoCould an Earthly Fungus Contaminate Mars? NASA May Have Found One Hardy Enough.