The ideas that the H-1B visa program is “limiting American jobs is a fallacy,” Foundation Capital General Partner Paul Holland told CNBC on Tuesday. President Trump’s call for the review of the H-1B visa program, has many tech companies in Silicon Valley worried about possible limitations on the visas for high skilled immigrant workers. “The concept behind limiting the H-1B visas we think is a pretty bad idea overall,” said Holland. “I think the notion that somehow…we’re limiting American jobs

JPMorgan warned investors to be cautious on the market due to geopolitical uncertainty even as it expects a solid earnings season. “S&P 500 is expected to deliver [its] strongest earnings growth in 22 quarters with momentum driven by recovering U.S. and global economic growth, higher oil prices, and rising rates for financials,” strategist Dubravko Lakos-Bujas wrote in a note to clients Tuesday. “While stronger earnings growth … has typically coincided with a positive … drift for S&P 500, we con

California’s snowpack level is near a record high. New data from NASA show that this past winter’s snowpack levels in California’s Tuolumne River Basin, located in the Sierra Nevada mountain range, are higher than they were in the last four years combined. NASA’s ASO is the only program that measures snow water equivalent, which is what it sounds like: the amount of water present in a measurement of snow. NASA found that combining April 1 snowpack measurements from 2013 through 2016 yielded 92 p

For many, that recognition is the reason a Louis Vuitton handbag — or a Fendi or a Gucci or a Henri Bendel — is desirable. With their bespoke handbag start-up 1 Atelier, two fashion industry veterans, Stephanie Sarka and Frank Zambrelli, are betting that the definition of luxury is evolving, especially for the younger generation. “When you walk into a room and seven women are wearing your $3,000 handbag, what’s rare about that? What’s luxurious about something that everyone has? You’ve ruined it

Bill O’Reilly’s fate at Fox may be in jeopardy according to a report from New York Magazine, citing sources. According to three sources, the Murdoch family may be considering keeping O’Reilly off the air. The New York Magazine’s sources say that patriarch Rupert Murdoch is for keeping O’Reilly, while his sons James and Lachlan are advocating for his removal. The TV anchor has recently become embroiled in controversy after it came to light that around $13 million was paid to settle claims of sexu

Donald Trump’s top economic aides have recently walked back expectations for how quickly tax reform will happen, but on Tuesday, the president put the pressure back on. “So we’re in very good shape on tax reform. “But health care, we have to get the health care taken care of, and as soon as health care takes care of we are going to march very quickly. Trump signaled Tuesday that he wants to turn back to health-care policy again before working toward tax reform. Senate Majority Leader Mitch McCon

U.S. equities fell on Tuesday after Goldman Sachs shocked Wall Street by missing estimates. “We always say the market moves on earnings and the expectation of earnings,” said Jeff Carbone, managing partner of Cornerstone Financial Partners. “Earnings were expected to be very good and now we’re taking the ‘very’ part out of it,” he said. The Dow Jones industrial average closed about 110 points lower, with Goldman shaving off 73 points and Johnson & Johnson taking out 26 points. The S&P 500 and th

[The stream is slated to start at 11 a.m., ET. Please refresh the page if you do not see a player above at that time.] Secretary of Homeland Security John Kelly delivers remarks on ‘Home & Away: Threats to America and the DHS Response’ — outlining his perspectives on identifying priority threats, improving organizational efficiency, and reinforcing core mission areas — and participates in a moderated discussion at George Washington University.

Netflix bulls on Wall Street were unfazed by mixed first-quarter financial results from the video streaming company even after the shares were down 2 percent midday Tuesday in response to the report. About 60 percent of Wall Street analysts still have buy ratings on Netflix, according to FactSet. Below is a summary of what Wall Street firms are now telling clients to do with the stock. Goldman SachsGoldman analyst Heath Terry reaffirmed his buy rating on Netflix and $170 price target for the sha

A labor dispute is brewing at Tesla’s German robotics unit that could disrupt Tesla’s plans to boost production, if workers choose to strike. The German industrial workers union IG Metall is set to decide on Tuesday whether it will call a strike at Tesla Grohmann Advanced Automation in Prum to force Tesla to enter wage negotiations, according to The Wall Street Journal. “We continue to work directly with Tesla Grohmann employees and are prepared in the event there is an action initiated by the u

Facebook CEO Mark Zuckerberg spoke on Tuesday from the annual Facebook Developer Conference, or F8, at the McEnery Convention Center in San Jose, California. “Think about how many things in our life don’t have to be physical, but can be digital,” Zuckerberg said. While he used to think glasses were the future of augmented reality, Zuckerberg said he envisions a “new platform ,” based on the camera, that will replace today’s “primitive tools.” The physical community is strengthened by Facebook’s

SoFi, the online lending start-up sporting a lofty $4.3 billion valuation, has just raised a $105 million fund to give outside investors another way to buy into the company’s loans. In a regulatory filing Monday afternoon, SoFi Prime Income Fund is listed as the issuer of equity in a limited partnership. According to the filing, the fund has 33 investors that put in a minimum of $500,000 each. Nino Fanlo, SoFi’s chief financial officer, said the fund is the first of its kind for SoFi and provide

The Facebook CEO was referring to incidents in which people commit violent crimes and post them on the giant social network and, with growing frequency, who stream them live on Facebook Live. Facebook prohibits content that glorifies promotes violence, only permitting violent content that is considered to be in the public interest. Facebook is within a few years of being able to reduce the amount of violent content on Facebook with the help of artificial intelligence that can detect what’s happe

Facebook unveiled a new feature on Tuesday called “spaces,” which allows users to create 3-D avatars for Facebook video calls and virtual reality headset Oculus Rift. The tool could allow users to send an animated graphic of themselves to anyone in their social network. It’s an amped-up version of Bitmojis or Bitstrips, owned by rival Snapchat. But the Facebook feature could eventually allow for virtual card games with your friends’s avatars, said Rachel Franklin, Facebook’s head of social VR. T

Messenger CEO David Marcus unveiled what he calls Messenger 2.0 at Facebook’s developer conference, F8. Last year at this same conference Marcus unveiled bots on the Messenger platform to automate interactions between businesses and consumers without needing to leave the app. Today, Marcus announced that there are 100,000 bots on the platform, up from 33,000 in September, and 100,000 developers working on the platform. Part of that is an announcement that was expected: Extending bots to groups,

Price-gouging is “rampant” in the hotel industry, and Airbnb has saved consumers more than $16 million over several events in major cities of late, the company said. The hotel industry’s plan against Airbnb shows “the hotel cartel is intent on short-sheeting the middle class so they can keep price-gouging consumers,” an Airbnb spokesman told the Times in an email. In its Tuesday report, Airbnb said these instances of price-gouging are most present at sports events, college graduations and — unfo

Following a tweet from Elon Musk that Tesla would announce details on a planned electric semi truck, one analyst is already downgrading its would-be competitors. CMI enthusiasts will note that EVs won’t replace diesel trucks in the coming 2 years (not in a material way, at least) and we agree. Musk discussed plans for a semi truck in his “Master Plan, Part Deux,” where he outlined the broad goals he has for the company over the next several years. Last Thursday, Musk tweeted that Tesla will prov

It could soon be a lot harder for U.S. companies to recruit skilled workers from overseas. President Donald Trump is expected on Tuesday to sign an executive order for a comprehensive review of visa programs that allow U.S. companies to hire foreign workers instead of their American counterparts. On the campaign trail, Trump often railed against the H-1B visa, a nonimmigrant visa that lets U.S. companies employ foreign workers in specialty occupations. The H-1B has been a favorite of the tech in

A new Apple HomeKit accessory can help you control your entire smart house with the tap of a button. Logitech introduced the Pop Smart Button on Tuesday, and it works with Apple HomeKit-enabled devices, like smart blinds, light bulbs and more. Tap it, and you can have the smart devices in your house execute pre-determined tasks. That’s where the Pop Smart Button comes in. The Pop Smart Button is just a tiny device, about the size of a small coffee-table coaster.

PetSmart has made the biggest e-commerce acquisition in history, snatching up fast-growing pet food and product site Chewy.com for $3.35 billion, according to multiple sources familiar with the deal. The deal is a huge one by any standard — bigger than Walmart’s $3.3 billion deal for Jet.com last year — and especially for a retail company like PetSmart that was itself valued at only $8.7 billion when private-equity investors took it over in 2015. It had quietly raised at least $236 million in ve