Judge Tosses $100K H-1B Visa Fee, Apple's New Stand-Alone Siri, More
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The Big Take podcast from Bloomberg News keeps you on top of the biggest stories of the day.
My fellow Americans, this is Liberation Day.
Stories that move markets.
Chair Powell opened the door to this first interest rate cut.
Impact politics. Change businesses. This is a really stunning development for the AI world. And how you think about your bottom line. Listen to The Big Take from Bloomberg News every weekday afternoon on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. News when you want it. With Bloomberg News Now, I'm Amy Morris. A federal judge has struck down a $100,000 fee President Trump had ordered for H-1B visa applications. The judge ruled the fee is an unlawful tax and must be vacated. The government is likely to appeal. Apple has unveiled the next generation of its artificial intelligence platform, including an update to its Siri digital assistant. The new Apple Intelligent System will be able to better understand the context of users' requests, and the overhaul of Siri will include a standalone Siri app with a more chatbot-like interface.
Bloomberg's Ed Ludlow tells Balance of Power a standalone Siri probably won't be enough to attract more buyers.
There's definitely this educational piece, which is... Do I need the latest generation iPhone to get the most out of whatever the new AI capabilities Apple unveils today are? And longer term, going into 2028, 2029, all of the market participants I speak to say, yes, that will become a defining feature.
Bloomberg's Ed Ludlow on balance of power from the WWDC conference in Cupertino, California. Hear more from Ed Ludlow on our Bloomberg Podcasts page on YouTube. Israel and Iran traded fire in their first attacks since the U.S. struck a ceasefire with Tehran two months ago. The Iranian military now says it is halting offensive operations, and Israeli Prime Minister Benjamin Netanyahu says the Israeli military is holding their fire for now. Former State Department official Heather Conley. Lebanon is the perfect connectivity for them to do what they want to demonstrate, that they have ballistic missiles. And that predicament really increases the tensions between the United States and Israel, which is not good for both countries.
Former State Department official Heather Conley on balance of power. WTI crude now around $91 a barrel and Brent crude is topping $94 a barrel. Southwest Airlines COO Andrew Watterson says business travel is strong and demand is held up despite the higher costs caused by the war in Iran.
Corporate profits really drive business travel and corporate profits held up well and job growth we saw last week is also strong and that drives leisure travel so the fundamentals of demand generation are strong.
Southwest Airlines COO Andrew Watterson spoke with Bloomberg on the sidelines of the IATA conference in Brazil but there are other geopolitical conflicts on the U.S. radar. Take China, where former Defense Secretary Lloyd Austin does not think China's President Xi Jinping wants to take Taiwan by force.
What recent legal decision impacted the H-1B visa application process?
I believe that if he could do it through coercion and demonstration of military capability, then he would do it that way. If there's a fight in the Taiwan Strait or in the vicinity of the Taiwan Strait, it will have a much greater impact on the global economy than what we've seen in the Strait of Hormuz.
Former U.S. Defense Secretary Lloyd Austin spoke to Bloomberg at the HSBC Gulf Cooperation Council Exchanges Conference in London. Hear our entire interview on the Bloomberg Talks podcast. International Monetary Fund Managing Director Kristalina Gorgieva says the world needs to build foundations that can withstand the multiple shocks.
I'm concerned that we are not completely internalizing yet the that this is how the world is going to be. We are not going to get to a place where shocks are gone.
Dorkieva noted that the spread of AI is a major transformation, and she wants to make sure the IMF doesn't overlook the inequalities that may arise. Wall Street staging a comeback, and we check the markets for you all day long here at Bloomberg.
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