🚀 Companies reacting to new $100k fee on H-1B Visas

Market Overview
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Year To Date Performances:

1. President Donald Trump’s plan to impose a $100,000 fee on new H-1B visa applications has rattled the tech and finance industries, as well as foreign governments, with companies like Amazon, Microsoft, and JPMorgan urging employees to avoid international travel to protect their status. The one-time fee, which will apply starting with the next lottery cycle, represents the administration’s most aggressive restriction yet on legal immigration and could dramatically curtail access to highly skilled workers, particularly from India and China. India and South Korea quickly raised concerns over both the economic and humanitarian fallout, pointing to disrupted families and strained competitiveness. The move, framed by the White House as a way to protect U.S. workers and curb abuses of the system, has instead triggered uncertainty across industries that depend heavily on global talent.

2. Berkshire Hathaway has fully sold its stake in Chinese EV maker BYD, ending a 17-year bet that turned a $230 million investment into billions after shares surged nearly 3,900%. The gradual exit, begun in 2022, was confirmed after Berkshire Hathaway Energy’s latest filings listed the position’s value at zero. While Buffett praised BYD and its CEO as “extraordinary,” he suggested redeploying the cash into opportunities he feels “better about,” echoing concerns he raised when unloading most of Berkshire’s Taiwan Semiconductor stake over geopolitical risks with China.

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4. In a landmark diplomatic shift, Canada, the U.K., and Australia formally recognized Palestine as a state on Sunday, joining a growing list of U.S. allies breaking from Washington’s stance amid the ongoing Gaza war. Leaders framed the move as a bid to revive hopes for a two-state solution, even as Israel condemned it as a reward for Hamas and families of Israeli hostages voiced outrage. The recognition, which grants Palestinians symbolic diplomatic standing, comes against the backdrop of staggering devastation in Gaza, where more than 65,000 have been killed since October 2023, and mounting international pressure on Israel over its military offensive. With France, Portugal, and other nations poised to follow, the wave of recognition brings U.S. allies closer to the 140+ countries that already acknowledge Palestinian statehood, reshaping the global diplomatic landscape.

   Headlines

   1. ByteDance’s valuation is increasing as there appears to be growing certainty around the structure of a deal for TikTok to remain active in the US.

   2. Major US airports were hit with cyberattacks over the weekend, grounding some flights.

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