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The U.S. could require bonds of up to $15,000 for some tourist and business visas under a pilot program launching in two weeks, a government notice said on Monday, an effort that aims to crack down on visitors who overstay their visas. The program gives U.S. consular officers the discretion to impose bonds on visitors from countries with high rates of visa overstays, according to a Federal Register notice. Bonds could also be applied to people coming from countries where screening and vetting information is deemed insufficient, the notice said. President Donald Trump has made cracking down on illegal immigration a focus of his presidency, boosting resources to secure the border and arresting people in the U.S. illegally. He issued a travel ban in June that fully or partially blocks citizens of 19 nations from entering the U.S. on national security grounds. Trump’s immigration policies have led some visitors to skip travel to the United States. Transatlantic airfares dropped to rates last seen before the COVID-19 pandemic in May and travel from Canada and Mexico to the U.S. fell by 20% year-over-year. Effective August 20, the new visa program will last for approximately a year, the government notice said. Consular officers will have three options for visa applicants subjected to the bonds: $5,000, $10,000 or $15,000, but will generally be expected to require at least $10,000, it said. A similar pilot program was launched in November 2020 during the last months of Trump’s first term in office, but it was not fully implemented due to the drop in global travel associated with the pandemic, the notice said. The State Department was unable to estimate the number of visa applicants who could be affected by the change. Many of the countries targeted by Trump’s travel ban also have high rates of visa overstays, including Chad, Eritrea, Haiti, Myanmar and Yemen. Numerous countries in Africa, including Burundi, Djibouti and Togo also had high overstay rates, according to U.S. Customs and Border Protection data from fiscal year 2023. Ted Hesson, Reuters
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E-Commerce
From Hollywood to Big Tech, major industries across the U.S. are increasingly going all-in on AI workflow tools, and theyre expecting employees to follow suit. Late last month, Business Insider reported that Microsoft has started evaluating some employees on their AI fluency, factoring their competency with AI tools into metrics like performance reviews. But in spite of the growing workplace incentive to adopt AI tools, some employees are actively resisting AI uptakeand their reasons make more sense than you might think. According to a new study conducted by a team of researchers at Peking University and The Hong Kong Polytechnic University, an emerging phenomenon is actively deterring employees from picking up AI tools, even at companies where doing so is strongly encouraged. Dubbed the competence penalty, this bias leads to AI users being seen as less competent by their peersregardless of actual performance. Its a perception gap thats especially damaging for women in technical roles. The background The researchers study was conducted at an unnamed leading tech company. In an article written for the Harvard Business Review (HBR), the studys authors explain that this company had previously rolled out a state-of-the-art AI coding assistant to its developers, which was promised to boost productivity significantly. Still, 12 months later, only 41% of the nearly 30,000 surveyed engineers had even tried the coding assistant. Adoption also varied based on employees identities. Just 39% of engineers 40 and older were using the tool, alongside a meager 31% of female engineers. Thats not for lack of trying on the companys part, either: Rather than throwing their employees into the AI deep end without guidance (a prevalent issue as AI workflow tools become more common), this company offered dedicated AI teams, adoption incentives, and free training. So, researchers set out to understand what was going wrong. The competence penalty To get to the bottom of this lackluster adoption pattern, the studys authors established an experiment with 1,026 engineers from the same company. The engineers were given a snippet of Python code to evaluate. While the code was the exact same for every participant, each was told that it was created under different conditionsincluding with or without AI and by a male or female engineer. The results showed that, when participants believed a fellow engineer had used AI to write their code, they rated that engineers competence 9% lower on average. The competence penaltys severity was also dependent on the reported gender of the engineer. If they were described as male, there was only a 6% competence reduction, compared to 13% for those described as female. Further, the reviewers own identity and stance on AI had an impact on how they rated others. Engineers who hadnt adopted AI themselves were most critical of AI-users, and male non-adopters penalized female AI-users 26% more harshly than their male AI-using counterparts. Through a follow-up study of 919 engineers, the researchers found that many employees were actually innately aware of this competence penalty, and were avoiding AI usage as a result. Those who most feared competence penalties in the tech industrydisproportionately women and older engineerswere precisely those who adopted AI least, the studys authors write. The very groups who might benefit most from productivity-enhancing tools felt they couldnt afford to use them. Women often face extra scrutiny The studys findings offer a strong counterpoint to the oft-repeated sentiment that AI tools might even the proverbial playing field at work, presenting a one-size-fits-all solution by making everyone more productive. Our results suggest that this is not guaranteed and in fact the opposite could be true, the authors write. In our context, which is dominated by young males, making AI equally available increased bias against female engineers. These results could help explain patterns that have already been observed in AI uptake. According to recent research conducted by Harvard Business School associate professor Rembrand Koning, women are adopting AI tools at a 25% lower rate than men, on average. In an article for Fast Company earlier this month, Kamales Lardi, author of the book Artificial Intelligence For Business, noted that, In my experience, women often face extra scrutiny over their skills, capabilities, and technical prowess. There may be a deep-rooted concern that leveraging AI tools may be perceived as cutting corners or reflect poorly on the users skill level. How leaders should prepare for the competence penalty Companies like the one in the study shouldn’t give up on implementing new AI tools, especially given that agentic AI is predicted to play a huge role in the future of work. Instead, leaders should use this data to put more AI adoption guardrails in place. In their analysis for HBR, the studys authors offer several main steps for managers to consider: Map your organizations penalty hotspots. Leaders should focus on identifying teams where the AI competence penalty might be highest, including those with more women and older engineers reporting to male non-adopters. Monitoring these teams might help to understand where and how the competence penalty is playing out. Convert the influential skeptics. Because non-dopters are the harshest critics of AI users, influential skeptics can have a major impact on the whole team. The studys authors suggest that breaking this cycle requires the skeptics to see respected colleagues successfully using AI without professional consequence. Redesign evaluations to remove the signal. Based on the study’s results, flagging a product as made with AI can negatively impact performance reviews. The solution is straightforward: Stop signalling AI use in performance evaluations until your culture is ready, the authors write.
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E-Commerce
U.S. stocks are rallying and recovering much of their sharp losses from last week, when worries about how President Donald Trumps tariffs may be punishing the economy sent a shudder through Wall Street. The S&P 500 jumped 1.4% in afternoon trading to claw back more than two thirds of Fridays drop. The Dow Jones Industrial Average was up 558 points, or 1.3%, as of 1:11 p.m. Eastern time, and the Nasdaq composite was 1.8% higher. Idexx Laboratories helped lead the way and soared 26.2% after the seller of veterinary instruments and other health care products reported a stronger profit for the spring than analysts expected. It also raised its forecast for profit over the full year. Tyson Foods likewise delivered a bigger-than-expected profit for the latest quarter, and the company behind the Jimmy Dean and Hillshire Farms brands climbed 4.3%. They helped offset a 3% drop for Berkshire Hathaway after Warren Buffetts company reported a drop in profit for its second quarter from a year earlier. The weakening was due in part to the falling value of its investment in Kraft Heinz. The pressure is on U.S. companies to deliver bigger profits after their stock prices shot to record after record recently. The jump in stock prices from a low point in April raised criticism that the broad market had become too expensive. Stocks just sank to their worst week since May, not so much on that criticism but on worries that Trumps tariffs may be hitting the U.S. economy following a longer wait than some economists had expected. Job growth slowed sharply last month, and the unemployment rate worsened to 4.2%. Trump reacted to the disappointing jobs numbers by firing the person in charge of compiling them. He also continued his criticism of the Federal Reserve, which could lower interest rates in order to shoot adrenaline into the economy. The Fed has instead been keeping rates on pause this year, in part because lower rates can send inflation higher, and Trumps tariffs may be set to increase prices for U.S. households. Fridays stunningly weak jobs report did raise expectations on Wall Street that the Fed will cut interest rates at its next meeting in September. That caused Treasury yields to slump in the bond market, and they were mixed on Monday. The yield on the 10-year Treasury eased a bit to 4.20% from 4.23% late Friday. The two-year yield, which moves more closely with expectations for Fed action, rose to 3.70% from 3.69% late Friday. In our view, if the Fed starts to cut rates at its September meeting, we believe this would be supportive for markets, according to David Lefkowitz, head of US equities at UBS Global Wealth Management. Such hopes, combined with profit reports from big U.S. companies that have largely come in better than expected, could help steady a U.S. stock market that may have been due for some turbulence. Before Friday, the S&P had gone more than a month without a daily swing of 1%, either up or down. This upcoming week may feature fewer fireworks on Wall Street following last weeks jobs report and profit updates from some of the U.S. stock markets most influential companies. This week’s highlights will likely include earnings reports from The Walt Disney Co., McDonalds and Caterpillar, along with updates on U.S. business activity. On Wall Street, Wayfair jumped 11% after the retailer of furniture and home decor said accelerating growth helped it make more in profit and revenue during the spring than analysts expected. Tesla rose 1.6% after awarding CEO Elon Musk 96 million shares of restricted stock valued at approximately $29 billion. The move, coming six months after a judge ordered the company to revoke his massive pay package, could remove potential worries that Musk may leave the company. CommScope soared 90% after reporting a stronger-than-expected quarterly profit and saying that it will sell its connectivity and cable business to Amphenol for $10.5 billion in cash. Amphenol rose 3.1% They helped offset a drop of 11.6% for On Semiconductor, which only matched analysts expectations for profit in the latest quarter. The company, which sells to the auto and industrial industries, said its beginning to see signs of stabilization across its customers. Boeing was mostly unchanged after workers who build fighter jets for the troubled aerospace giant went on strike overnight. In stock markets abroad, indexes rose across much of Europe and Asia. South Koreas Kospi rose 0.9%, and Frances CAC 40 climbed 1.1%, while Japans Nikkei 225 was an outlier with a drop of 1.2%. ___ This version has been corrected to say that the U.S. stock market had its worst week last week since May, not April. Stan Choe, AP business writer AP Business Writers Matt Ott and Elaine Kurtenbach contributed.
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E-Commerce
Furniture maker Steelcase is being acquired by HNI Corporation in a $2.2 billion deal that shows the upside to office furniture at a time when return-to-office remains on the rise. HNI Corporation, which manufactures workplace furnishings and residential building products like fireplaces, announced the acquisition with Steelcase Monday. The companies cited their complementary geographic footprints, dealer networks, and skillsets as the deal’s benefits and said they estimate an annual revenue of about $5.8 billion should shareholders agree and the transaction close by the end of 2025. “This is a historic moment for Steelcase as we embark on the first step of a transformative combination that will unlock new possibilities for our customers, dealers, and employees alike,” Steelcase president and CEO Sara Armbruster wrote in a letter to employees obtained by Fast Company. “Together, we will be positioned to redefine what’s possible in the world of work, workers, and workplaces.” Armbruster said Steelcase would maintain its Grand Rapids, Michigan, headquarters and continue to operate as Steelcase with its brand and business strategy following the close of the deal, but that HNI chairman, president, and CEO Jeffrey Lorenger would lead the combined company. RTO growth Steelcase has rebounded from pandemic lockdowns with 12 consecutive quarters of year-over-year gross margin growth, including 7.11% year-over-year growth in the most recent quarter for a reported $779 million in quarterly revenue, according to PitchBook data. As firms instituted return-to-office (RTO) policies in the years since lockdowns, Steelcase’s office chairs, work stations, lockers, and phone booths have been in high demand. As recently as last year, RTO was still picking up steam, and fast. The percentage of employees who work “mostly in person” rose from 34% to 68% between 2023 to 2024, while the share of employees who work “mostly remote” has dropped from 44% to 17% in the same time period, according to McKinsey & Company. Steelcase, which did not respond to a request for comment, reported strong order growth from financial services companies and large technology companies on its most recent earnings call. Armbruster noted on the call healthcare was an area of growth and said Steelcase’s work in the education space was “well-positioned” but threatened by federal policy targeting education.
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E-Commerce
When Susana Pacheco accepted a housekeeping job at a casino on the Las Vegas Strip 16 years ago, she believed it was a step toward stability for her and her 2-year-old daughter.But the single mom found herself exhausted, falling behind on bills and without access to stable health insurance, caught in a cycle of low pay and little support. For years, she said, there was no safety net in sight until now.For 25 years, her employer, the Venetian, had resisted organizing efforts as one of the last holdouts on the Strip, locked in a prolonged standoff with the Culinary Workers Union. But a recent change in ownership opened the Venetian’s doors to union representation just as the Strip’s newest casino, the Fontainebleau, was also inking its first labor contract.The historic deals finalized late last year mark a major turning point: For the first time in the Culinary Union’s 90-year history, all major casinos on the Strip are unionized. Backed by 60,000 members, most of them in Las Vegas, it is the largest labor union in Nevada. Experts say the Culinary Union’s success is a notable exception in a national landscape where union membership overall is declining.“Together, we’ve shown that change can be a positive force, and I’m confident that this partnership will continue to benefit us all in the years to come,” Patrick Nichols, president and CEO of the Venetian, said shortly after workers approved the deal.Pacheco says their new contract has already reshaped her day-to-day life. The housekeeper no longer races against the clock to clean an unmanageable number of hotel suites, and she’s spending more quality time with her children because of the better pay and guaranteed days off.“Now with the union, we have a voice,” Pacheco said. Union strength is fading nationally These gains come at a time when union membership nationally is at an all-time low, and despite Republican-led efforts over the years to curb union power. About 10% of U.S. workers belonged to a union in 2024, down from 20% in 1983, the first year for which data is available, according to U.S. Bureau of Labor statistics.President Donald Trump in March signed an executive order seeking to end collective bargaining for certain federal employees that led to union leaders suing the administration. Nevada and more than two dozen other states now have so-called “right to work” laws that let workers opt out of union membership and dues. GOP lawmakers have also supported changes to the National Labor Relations Board and other regulatory bodies, seeking to reduce what they view as overly burdensome rules on businesses.Ruben Garcia, professor and director of the workplace program at the University of Nevada, Las Vegas law school, said the Culinary Union’s resilience stems from its deep roots in Las Vegas, its ability to adapt to the growth and corporatization of the casino industry, and its long history of navigating complex power dynamics with casino owners and operators.He said the consolidation of casinos on the Las Vegas Strip mirrors the dominance of the Big Three automakers in Detroit. A few powerful companies MGM Resorts International, Caesars Entertainment and Wynn Resorts now control most of the dozens of casinos along Las Vegas Boulevard.“That consolidation can make things harder for workers in some ways, but it also gives unions one large target,” Garcia said.That dynamic worked in the union’s favor in 2023, when the threat of a major strike by 35,000 hospitality workers with expired contracts loomed over the Strip. But a last-minute deal with Caesars narrowly averted the walkout, and it triggered a domino effect across the Strip, with the union quickly finalizing similar deals for workers at MGM Resorts and Wynn properties.The latest contracts secured a historic 32% bump in pay over the life of the five-year contract. Union casino workers will earn an average $35 hourly, including benefits, by the end of it.The union’s influence also extends far beyond the casino floor. With its ability to mobilize thousands of its members for canvassing and voter outreach, the union’s endorsements are highly coveted, particularly among Democrats, and can signal who has the best shot at winning working-class votes. The union has and still faces resistance The union’s path hasn’t always been smooth though. Michael Green, a history professor at UNLV, noted the Culinary Union has long faced resistance.“Historically, there have always been people who are anti-union,” Green said.Earlier this year, two food service workers in Las Vegas filed federal complaints with the National Labor Relations Board, accusing the union of deducting dues despite their objections to union membership. It varies at each casino, but between 95 to 98% of workers opt in to union membership, according to the union.“I don’t think Culinary Union bosses deserve my support,” said one of the workers, Renee Guerrero, who works at T-Mobile Arena on the Strip. “Their actions since I attempted to exercise my right to stop dues payments only confirms my decision.”But longtime union members like Paul Anthony see things differently. Anthony, a food server at the Bellagio and a Culinary member for nearly 40 years, said his union benefits free family health insurance, reliable pay raises, job security and a pension helped him to build a lasting career in the hospitality industry.“A lot of times it is an industry that doesn’t have longevity,” he said. But on the Strip, it’s a job that people can do for “20 years, 30 years, 40 years.”Ted Pappageorge, the union’s secretary-treasurer and lead negotiator, said the union calls this the “Las Vegas dream.”“It’s always been our goal to make sure that this town is a union town,” he said. Rio Yamat, Associated Press
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E-Commerce
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