1
00:00:02,520 --> 00:00:07,000
Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

2
00:00:10,200 --> 00:00:12,160
Speaker 2: This is the Bloomberg DAYBAQT podcast.

3
00:00:12,200 --> 00:00:12,600
Speaker 1: Give Morning.

4
00:00:12,640 --> 00:00:15,800
Speaker 3: It's Monday, the twenty second of September. I'm Caroline Hepget

5
00:00:15,800 --> 00:00:19,160
Speaker 3: in London. Coming up today, the US plans to impose

6
00:00:19,200 --> 00:00:22,640
Speaker 3: a one hundred thousand dollar fee on H one B

7
00:00:23,000 --> 00:00:27,560
Speaker 3: high skilled visa applications, causing chaos for firms who rely

8
00:00:27,840 --> 00:00:32,199
Speaker 3: on global tech talent. The UK, Canada, and Australia break

9
00:00:32,200 --> 00:00:37,440
Speaker 3: with America to formally recognize a Palestinian state, plus putin

10
00:00:37,560 --> 00:00:42,279
Speaker 3: secret plan. Bloomberg obtains a cachet of documents that exclusively

11
00:00:42,360 --> 00:00:47,400
Speaker 3: reveal Russia's plans to disrupt the upcoming elections in Moldova.

12
00:00:47,840 --> 00:00:50,720
Speaker 3: Let's start with a roundup of our top stories. New

13
00:00:50,800 --> 00:00:54,040
Speaker 3: rules are now in effect for those seeking high skilled

14
00:00:54,240 --> 00:00:57,680
Speaker 3: US visas. On Friday, the Job Administration impose a new

15
00:00:58,120 --> 00:01:02,240
Speaker 3: one hundred thousand dollars applicationation fee for the widely used

16
00:01:02,720 --> 00:01:05,800
Speaker 3: H one B program. The new rules are expected to

17
00:01:05,840 --> 00:01:09,480
Speaker 3: have a significant impact on Indian nationals, who account for

18
00:01:09,520 --> 00:01:12,520
Speaker 3: more than seventy percent of all H one B visas.

19
00:01:12,840 --> 00:01:17,080
Speaker 3: As Bloomberg's newly Pernell reports, the policy will force large

20
00:01:17,120 --> 00:01:22,080
Speaker 3: outsourcing companies in the country to rethink their business strategies.

21
00:01:22,800 --> 00:01:26,000
Speaker 4: There are so many of these workers already in the US,

22
00:01:26,080 --> 00:01:29,680
Speaker 4: and also so many companies, not just big US tech companies,

23
00:01:29,680 --> 00:01:31,959
Speaker 4: but look number two on the list. We saw TCS,

24
00:01:32,000 --> 00:01:36,160
Speaker 4: type of consultancy services, India's biggest outsourcing firm by revenue.

25
00:01:36,360 --> 00:01:38,520
Speaker 4: Every year, they want to send lots of people to

26
00:01:38,560 --> 00:01:41,720
Speaker 4: the US to service clients there. They want to work

27
00:01:41,720 --> 00:01:44,880
Speaker 4: on site, they need to interface with clients, and so

28
00:01:45,000 --> 00:01:47,520
Speaker 4: the business models of many of these big Indian IT

29
00:01:47,720 --> 00:01:50,160
Speaker 4: services firms really depend on these visas.

30
00:01:50,720 --> 00:01:55,280
Speaker 3: Bloomberg's newly Pernell reporting there as. The visa announcement sparked

31
00:01:55,360 --> 00:01:58,760
Speaker 3: chaos in the US tech sector and beyond, as companies

32
00:01:58,880 --> 00:02:03,640
Speaker 3: rush to warn employees with the visa against foreign travel.

33
00:02:03,800 --> 00:02:07,080
Speaker 3: On Saturday, a White House official clarified that the fee

34
00:02:07,360 --> 00:02:11,280
Speaker 3: would only apply to new visa applications, but the uncertainty

35
00:02:11,320 --> 00:02:14,880
Speaker 3: surrounding the change is prompting firms and immigration lawyers to

36
00:02:15,160 --> 00:02:18,320
Speaker 3: urge current visa holders to be cautious. As the likes

37
00:02:18,320 --> 00:02:22,520
Speaker 3: of Alphabet, Meta, Apple and others assess the impact on

38
00:02:22,560 --> 00:02:28,040
Speaker 3: their global recruitment plans. Britain, Canada and Australia now view

39
00:02:28,160 --> 00:02:31,760
Speaker 3: Palestine as a sovereign state, in a sign of the

40
00:02:31,760 --> 00:02:35,840
Speaker 3: growing international condemnation of Israel. The three countries announced the

41
00:02:35,880 --> 00:02:38,639
Speaker 3: shift yesterday, saying that it was part of a coordinated

42
00:02:38,760 --> 00:02:42,400
Speaker 3: push for a two state solution. UK pro Minister Kirstamer

43
00:02:42,480 --> 00:02:46,520
Speaker 3: insists her Mass must have no role in governing, but

44
00:02:46,760 --> 00:02:48,120
Speaker 3: hopes for lasting peace.

45
00:02:48,840 --> 00:02:54,160
Speaker 5: Her Mass is a brutal terror organization. Our call for

46
00:02:54,240 --> 00:02:59,880
Speaker 5: a genuine two state solution is the exact opposite of

47
00:03:00,080 --> 00:03:01,080
Speaker 5: their hateful vision.

48
00:03:02,280 --> 00:03:05,280
Speaker 3: Kits Sarma ads he has a growing horror of the

49
00:03:05,400 --> 00:03:09,720
Speaker 3: humanitarian situation in Gaza, where Israel is waging war against Hamas.

50
00:03:10,120 --> 00:03:13,560
Speaker 3: Israel's Prime Minister Benjamin Netanyahu has reacted with fury to

51
00:03:13,680 --> 00:03:16,760
Speaker 3: the plans, saying that he will retaliate against countries that

52
00:03:16,880 --> 00:03:22,160
Speaker 3: recognize Palestine, calling it a terror state. France, Belgium, and

53
00:03:22,200 --> 00:03:26,000
Speaker 3: Saudi Arabia are also expected to back Palestinian statehood at

54
00:03:26,040 --> 00:03:30,880
Speaker 3: an upcoming UN meeting. Well. The UN Security Council meets

55
00:03:30,919 --> 00:03:35,680
Speaker 3: today at Estonia's request after Russian fighter jets entered its

56
00:03:35,680 --> 00:03:36,840
Speaker 3: airspace on Friday.

57
00:03:37,200 --> 00:03:39,080
Speaker 2: The breach marked the third.

58
00:03:38,880 --> 00:03:42,840
Speaker 3: Airspace violation of a NATO member just this month, following

59
00:03:42,920 --> 00:03:47,280
Speaker 3: Drone incidents in Poland and Romania. Estonian Foreign Minister Margus

60
00:03:47,760 --> 00:03:51,440
Speaker 3: Zakna said the incursion broke the UN Charter and the

61
00:03:51,480 --> 00:03:54,120
Speaker 3: Baltic country's territorial integrity.

62
00:03:55,080 --> 00:03:58,760
Speaker 6: This was a very serious violation of the later Airspace

63
00:03:59,360 --> 00:04:04,680
Speaker 6: Reto twelve minutes of violation. Last time we saw it

64
00:04:05,120 --> 00:04:08,760
Speaker 6: just before Estonia joined NATO, it was two thousand and three.

65
00:04:09,280 --> 00:04:12,600
Speaker 6: But now this is the global situation is totally different.

66
00:04:12,640 --> 00:04:14,240
Speaker 6: The regional situation is different.

67
00:04:15,240 --> 00:04:16,200
Speaker 7: Just a couple of.

68
00:04:16,279 --> 00:04:19,919
Speaker 6: Days before we saw a full scale attack against Poland

69
00:04:19,960 --> 00:04:22,960
Speaker 6: with the nineteen rolls. And if you've put it all

70
00:04:23,000 --> 00:04:25,760
Speaker 6: in the batroom, so Rasia is turning on the heat.

71
00:04:25,960 --> 00:04:27,560
Speaker 6: Rassia is testing more NATO.

72
00:04:29,440 --> 00:04:33,320
Speaker 3: So that was the Estonian foreign minister Margat Sakna. Tlin

73
00:04:33,920 --> 00:04:37,000
Speaker 3: is set to ask NATO allies for extra air defense

74
00:04:37,040 --> 00:04:42,160
Speaker 3: assistance over the Baltic Sea. Moscow has denied Friday's incursion,

75
00:04:42,200 --> 00:04:45,560
Speaker 3: saying that its jets were flying a planned route from Karelia,

76
00:04:45,600 --> 00:04:50,880
Speaker 3: which borders Finland, to the Kaliningrad exclave. Now Separately, the

77
00:04:50,920 --> 00:04:54,200
Speaker 3: German Air Force said that NATO scrambled to Eurofighter jets

78
00:04:54,200 --> 00:04:57,800
Speaker 3: on Sunday in response to a Russian plane flying over

79
00:04:57,880 --> 00:05:02,280
Speaker 3: international waters without a f light plan or radio contact.

80
00:05:04,560 --> 00:05:09,480
Speaker 3: President Donald Trump and top Republicans mourned Charlie Kirk on Sunday,

81
00:05:09,520 --> 00:05:14,480
Speaker 3: the conservative activists assassinated at a university debate. The President

82
00:05:14,520 --> 00:05:16,800
Speaker 3: told a crowd of more than one hundred thousand people

83
00:05:16,800 --> 00:05:20,240
Speaker 3: that Kirk was a martyr and a hero. The leading

84
00:05:20,320 --> 00:05:23,120
Speaker 3: lights of the Mega movement came to the memorial in Phoenix,

85
00:05:23,160 --> 00:05:26,560
Speaker 3: with billionaire Elon Musk sitting next to the president. The

86
00:05:26,720 --> 00:05:30,640
Speaker 3: service mixed prayers, Christian singers, as well as politics to

87
00:05:30,760 --> 00:05:35,640
Speaker 3: galvanize young conservatives, and a voter registration drive moved through

88
00:05:35,680 --> 00:05:39,120
Speaker 3: the rows of people. Deputy Chief of Staff Stephen Miller

89
00:05:39,480 --> 00:05:42,600
Speaker 3: says that millions will carry on Kirk's legacy.

90
00:05:43,560 --> 00:05:47,000
Speaker 7: They cannot imagine what they have awakened.

91
00:05:47,320 --> 00:05:51,440
Speaker 8: They cannot conceive of the army that they have arisen

92
00:05:51,839 --> 00:05:52,960
Speaker 8: in all of US.

93
00:05:54,440 --> 00:05:57,520
Speaker 3: Miller and other Republican leaders have said, without evidence that

94
00:05:57,560 --> 00:06:01,200
Speaker 3: the shooting was caused by left wing rhetorics. The administration

95
00:06:01,279 --> 00:06:04,240
Speaker 3: says that it plans to respond by targeting groups and

96
00:06:04,400 --> 00:06:08,240
Speaker 3: public figures who disseminate content that they disagree with.

97
00:06:10,400 --> 00:06:10,599
Speaker 8: Now.

98
00:06:10,600 --> 00:06:13,520
Speaker 3: President Trump has also suggested that the Murdoch family are

99
00:06:13,560 --> 00:06:16,920
Speaker 3: involved in the US takeover of TikTok. A deal between

100
00:06:16,920 --> 00:06:19,919
Speaker 3: the US and China regarding the video sharing app was

101
00:06:19,960 --> 00:06:23,599
Speaker 3: finalized on Friday. An agreement will be signed in the

102
00:06:23,640 --> 00:06:26,640
Speaker 3: coming days, according to the White House. Speaking during an

103
00:06:26,680 --> 00:06:30,440
Speaker 3: interview with Fox News, Donald Trump alluded to Murdoch involvement.

104
00:06:31,400 --> 00:06:34,480
Speaker 7: Kay, to tell you this, but a main name, Lachlan

105
00:06:35,080 --> 00:06:37,839
Speaker 7: is involved. You know, Lachlan is. That's a very unusual name.

106
00:06:37,960 --> 00:06:41,320
Speaker 7: Lachlan Murdoch, mister murder, I believe, and you should you

107
00:06:41,360 --> 00:06:42,760
Speaker 7: call him. And Rupert is.

108
00:06:44,480 --> 00:06:45,640
Speaker 2: Probably going to be in the group.

109
00:06:45,720 --> 00:06:46,640
Speaker 1: I think they're going to be in the.

110
00:06:46,640 --> 00:06:50,760
Speaker 3: Group, President Trump, speaking there. The deal is designed to

111
00:06:50,760 --> 00:06:53,680
Speaker 3: comply with a bipartisan law that went into effect in

112
00:06:53,760 --> 00:06:57,840
Speaker 3: January twenty twenty five, and will require Chinese parent company

113
00:06:57,880 --> 00:07:01,039
Speaker 3: Byte Dance to divest from TikTok.

114
00:07:00,640 --> 00:07:01,239
Speaker 2: In the US.

115
00:07:01,520 --> 00:07:04,280
Speaker 3: A person familiar with the matter said that Fox will

116
00:07:04,320 --> 00:07:07,640
Speaker 3: be involved in the TikTok deal as opposed to the

117
00:07:07,760 --> 00:07:13,960
Speaker 3: Murdocks individually. Here in the UK, the country's expanding its

118
00:07:14,160 --> 00:07:16,960
Speaker 3: second largest airport. It is a move design to bolster

119
00:07:17,080 --> 00:07:21,119
Speaker 3: growth as government officials look to lift the economy through

120
00:07:21,200 --> 00:07:25,240
Speaker 3: major infrastructure projects. Bloombigs ta at a bio has that story.

121
00:07:26,040 --> 00:07:30,520
Speaker 8: Late on Sunday evening, Transport Secretary Heidi Alexander announced the

122
00:07:30,600 --> 00:07:34,520
Speaker 8: decision to greenlight a privately financed second runway at Gatwick.

123
00:07:35,160 --> 00:07:38,360
Speaker 8: The two point two billion pound projects will increase capacity

124
00:07:38,400 --> 00:07:41,480
Speaker 8: by eighty million passengers a year and about another one

125
00:07:41,560 --> 00:07:45,360
Speaker 8: hundred thousand flights, according to the airport. But above all

126
00:07:45,400 --> 00:07:49,200
Speaker 8: for the government is the prospect of growth. Bloomberg understands

127
00:07:49,240 --> 00:07:52,000
Speaker 8: officials hope the runway could be in use before the

128
00:07:52,040 --> 00:07:56,080
Speaker 8: time of the next general election, due in twenty twenty nine.

129
00:07:56,160 --> 00:07:58,880
Speaker 8: The expansion now enters a period when it could face

130
00:07:59,000 --> 00:08:03,440
Speaker 8: legal challenges and has already been opposed by environmental groups

131
00:08:03,440 --> 00:08:05,840
Speaker 8: in London. Do you add a bio Bloomberg Radio.

132
00:08:07,040 --> 00:08:11,160
Speaker 3: Bloomberg understands Hong Kong International Airport is considering grounding all

133
00:08:11,240 --> 00:08:15,160
Speaker 3: passenger flights for thirty six hours as the city braces

134
00:08:15,200 --> 00:08:18,440
Speaker 3: for one of its strongest typhoons in years. We're told

135
00:08:18,640 --> 00:08:23,080
Speaker 3: that the stoppage would run from six pm Tuesday local

136
00:08:23,120 --> 00:08:26,760
Speaker 3: time through to six am on Thursday as super typhoon

137
00:08:26,920 --> 00:08:31,200
Speaker 3: rad Gassa approaches. A formal announcement is expected later today.

138
00:08:31,680 --> 00:08:35,679
Speaker 3: Quantus Airways has already posted a notice on its website

139
00:08:35,720 --> 00:08:38,800
Speaker 3: reflecting those hours, though if confirmed, it would be the

140
00:08:38,840 --> 00:08:43,559
Speaker 3: airport's longest suspension in recent history. So that's one to

141
00:08:43,640 --> 00:08:46,160
Speaker 3: watch out for. Then today, so those are our top

142
00:08:46,200 --> 00:08:48,680
Speaker 3: stories for you. Let us look at the markets. Global

143
00:08:48,760 --> 00:08:50,920
Speaker 3: sos are trading at record levels. We had the huge

144
00:08:50,920 --> 00:08:53,760
Speaker 3: spike last week. Asian shares are gaining indicate two to

145
00:08:53,840 --> 00:08:56,320
Speaker 3: five are by one point two percent, but the nifty

146
00:08:56,320 --> 00:08:59,480
Speaker 3: to fifty this morning is slightly weaker. You've had a

147
00:08:59,520 --> 00:09:01,880
Speaker 3: real hit Indian stocks because of the Age one B

148
00:09:02,320 --> 00:09:06,560
Speaker 3: visa changes announced by the Trump administration. The dollar this

149
00:09:06,600 --> 00:09:10,080
Speaker 3: morning is higher tenth of one percent. Stop futures for

150
00:09:10,320 --> 00:09:13,559
Speaker 3: Europe are also just about in the green, although US

151
00:09:13,679 --> 00:09:15,640
Speaker 3: s and P five hundred and as that futures are

152
00:09:15,720 --> 00:09:18,160
Speaker 3: down and looking at teny of Treasury yields up one

153
00:09:18,160 --> 00:09:20,760
Speaker 3: and half basis points at four fourteen. Those are the

154
00:09:20,800 --> 00:09:23,839
Speaker 3: markets this morning. In a moment, we're going to get

155
00:09:23,840 --> 00:09:26,319
Speaker 3: into the details. Then the latest on the US visa

156
00:09:26,480 --> 00:09:32,120
Speaker 3: changes upending the global battle for talent, plus Blomberg's exclusive

157
00:09:32,200 --> 00:09:37,760
Speaker 3: reporting on Russia's election interference efforts in Europe. But before

158
00:09:37,760 --> 00:09:42,240
Speaker 3: we get to those conversations. Do you remember the avocado

159
00:09:42,400 --> 00:09:44,679
Speaker 3: toast criticism about millennials?

160
00:09:44,800 --> 00:09:45,680
Speaker 2: It was a whole thing.

161
00:09:45,800 --> 00:09:48,280
Speaker 3: Young people were blowing what could be, you know, a

162
00:09:48,320 --> 00:09:51,800
Speaker 3: down payment on a home went the accusation by eating

163
00:09:52,000 --> 00:09:55,920
Speaker 3: expensive bunches out well. Bloomberg's Charlie Wells has been writing

164
00:09:55,920 --> 00:09:59,760
Speaker 3: about this, a really lovely essay that is based on

165
00:09:59,800 --> 00:10:04,080
Speaker 3: his a new book that is out currently, all about millennials,

166
00:10:04,160 --> 00:10:09,440
Speaker 3: saying that this triggered a real intergenerational battle. The narrative

167
00:10:09,679 --> 00:10:12,480
Speaker 3: was then reversed as millennials grew older and kind of

168
00:10:12,520 --> 00:10:17,080
Speaker 3: got the levers of power, and it became boomer bashing instead. Now,

169
00:10:17,200 --> 00:10:19,760
Speaker 3: Charlie writes that the good news is that the story

170
00:10:19,840 --> 00:10:24,080
Speaker 3: is simply no longer true. Apparently the statistics have suddenly

171
00:10:24,080 --> 00:10:29,360
Speaker 3: and dramatically changed. Millennials in the US are apparently nearly

172
00:10:29,400 --> 00:10:32,679
Speaker 3: a third richer than baby Boomers were at the same

173
00:10:32,800 --> 00:10:35,840
Speaker 3: point in their lives, and fifty five percent of them

174
00:10:35,880 --> 00:10:38,480
Speaker 3: in the US at least do now own a home,

175
00:10:38,600 --> 00:10:44,120
Speaker 3: So the statistics have changed. Instead of sort of spendthrift millennials,

176
00:10:44,120 --> 00:10:47,280
Speaker 3: they now actually are very wealthy. But the downside is

177
00:10:47,840 --> 00:10:50,959
Speaker 3: there is a much bigger gap in terms of wealth

178
00:10:51,000 --> 00:10:54,240
Speaker 3: between the richest and poorous millennials, and that there is

179
00:10:54,360 --> 00:10:58,839
Speaker 3: also a bigger gap between races in terms of white

180
00:10:58,840 --> 00:11:02,960
Speaker 3: millennials twice as likely to own homes as their black peers.

181
00:11:03,200 --> 00:11:06,160
Speaker 3: A very interesting story and a really great book, also

182
00:11:06,200 --> 00:11:08,640
Speaker 3: by Charlie Wells. I will put a link to it

183
00:11:08,880 --> 00:11:13,040
Speaker 3: in our show notes. Now, the Trump administration has raised

184
00:11:13,120 --> 00:11:17,000
Speaker 3: the application fee for H one B visas to one

185
00:11:17,080 --> 00:11:20,440
Speaker 3: hundred thousand dollars. The new policy has caused chaos among

186
00:11:20,559 --> 00:11:24,480
Speaker 3: companies who bring in global talent into the US. On

187
00:11:24,640 --> 00:11:28,520
Speaker 3: newsdesk editor Jill Diesis joins me for more on this story.

188
00:11:29,040 --> 00:11:30,960
Speaker 2: First of all, to people who.

189
00:11:30,840 --> 00:11:33,840
Speaker 3: Don't know about this visa scheme, what is the H

190
00:11:33,880 --> 00:11:37,040
Speaker 3: one B visa and why has it suddenly been changed

191
00:11:37,040 --> 00:11:37,839
Speaker 3: by President Trump?

192
00:11:37,920 --> 00:11:38,920
Speaker 2: What has he announced?

193
00:11:39,440 --> 00:11:42,480
Speaker 9: Yes, good morning. So this is a visa program that's

194
00:11:42,480 --> 00:11:45,840
Speaker 9: been around since nineteen ninety. It's primarily used by the

195
00:11:45,880 --> 00:11:48,840
Speaker 9: tech industry. Leaders within their industry say there is a

196
00:11:48,840 --> 00:11:52,439
Speaker 9: director professionals with science, math, and computer skills. And we've

197
00:11:52,480 --> 00:11:57,320
Speaker 9: seen that computer relided occupations have accounted for about sixty

198
00:11:57,320 --> 00:12:00,800
Speaker 9: five percent of H one approvals and twenty twenty three

199
00:12:01,400 --> 00:12:03,719
Speaker 9: So these are temporary visas. They last as long as

200
00:12:03,720 --> 00:12:06,240
Speaker 9: six years, but they can be extended indefinitely. And this

201
00:12:06,280 --> 00:12:08,160
Speaker 9: is something that's been used by a lot of companies

202
00:12:08,200 --> 00:12:11,080
Speaker 9: like Amazon, the largest holder of h one V visas

203
00:12:11,240 --> 00:12:14,040
Speaker 9: in the United States. You've also got Microsoft companies like

204
00:12:14,080 --> 00:12:17,160
Speaker 9: that that have really used this to bring in tech employees.

205
00:12:17,200 --> 00:12:20,079
Speaker 9: So what the big changes here is that Trump has

206
00:12:20,120 --> 00:12:23,040
Speaker 9: slapped this one hundred thousand dollars application fee on this

207
00:12:23,160 --> 00:12:26,360
Speaker 9: visa program as part of the idea of trying to

208
00:12:26,400 --> 00:12:28,320
Speaker 9: make sure that more of these jobs are held by

209
00:12:28,880 --> 00:12:31,280
Speaker 9: US workers rather than foreign workers that are flown in.

210
00:12:31,600 --> 00:12:34,000
Speaker 9: Just as a comparison, I mean, most visa programs, you're

211
00:12:34,000 --> 00:12:36,719
Speaker 9: really looking at a cost of about five to ten

212
00:12:36,800 --> 00:12:39,120
Speaker 9: thousand US dollars. So, I mean, this is a massive,

213
00:12:39,200 --> 00:12:41,320
Speaker 9: massive increase in how much it actually costs just to

214
00:12:41,520 --> 00:12:44,599
Speaker 9: put it in application for this visa.

215
00:12:44,760 --> 00:12:48,280
Speaker 3: There was always a split in the MAGA movement anti

216
00:12:48,280 --> 00:12:53,199
Speaker 3: immigration versus Silicon and Tech valley. Silicon Valley rather than

217
00:12:53,240 --> 00:12:56,800
Speaker 3: and big tech companies. What does it mean for them,

218
00:12:56,880 --> 00:13:00,839
Speaker 3: these US firms, all these jobs gonna go to more

219
00:13:00,960 --> 00:13:02,079
Speaker 3: US work as I suppose.

220
00:13:02,679 --> 00:13:04,679
Speaker 9: Yeah, I mean that's the really big question here, right,

221
00:13:04,720 --> 00:13:07,680
Speaker 9: I mean, particularly as we've seen some within the tech sphere,

222
00:13:08,000 --> 00:13:10,120
Speaker 9: you know, those like Elon Musk for example, who've been

223
00:13:10,120 --> 00:13:12,320
Speaker 9: put in a position of defending these types of visas

224
00:13:12,320 --> 00:13:15,640
Speaker 9: for the kind of work that it allows the companies

225
00:13:15,640 --> 00:13:17,440
Speaker 9: to bring in. And how that sort of split with

226
00:13:17,480 --> 00:13:21,320
Speaker 9: this very anti immigration, anti foreigner movement among a lot

227
00:13:21,400 --> 00:13:24,520
Speaker 9: of maga. I mean, it kind of depends, you're right.

228
00:13:24,559 --> 00:13:27,040
Speaker 9: I think one of the points of confusion that swirled

229
00:13:27,040 --> 00:13:29,320
Speaker 9: over the weaquon that was clarified by the White House

230
00:13:29,320 --> 00:13:31,680
Speaker 9: eventually and Sunday, was the idea that this doesn't actually

231
00:13:31,720 --> 00:13:34,959
Speaker 9: apply to people that currently hold this visa or we're

232
00:13:34,960 --> 00:13:37,319
Speaker 9: putting it up for renewal, so this is new applications

233
00:13:37,360 --> 00:13:40,120
Speaker 9: only at this point. So maybe that alleviate some short term,

234
00:13:40,679 --> 00:13:42,760
Speaker 9: you know, sort of pressures on some of these tech companies.

235
00:13:42,760 --> 00:13:45,040
Speaker 9: But I do think that it raises the specter of

236
00:13:45,400 --> 00:13:47,360
Speaker 9: what are these companies going to do long term? I mean,

237
00:13:47,400 --> 00:13:50,280
Speaker 9: are they actually going to put the bill for the

238
00:13:50,320 --> 00:13:52,800
Speaker 9: cost of these application feeds? Because this was a really

239
00:13:52,800 --> 00:13:54,960
Speaker 9: significant way that you were getting some of these foreign

240
00:13:55,000 --> 00:13:57,839
Speaker 9: born workers, particularly in India where there were a lot

241
00:13:57,840 --> 00:14:00,400
Speaker 9: of tech workers that were taking advantage of these types

242
00:14:00,400 --> 00:14:02,240
Speaker 9: of visas into the country, So there could be a

243
00:14:02,240 --> 00:14:04,080
Speaker 9: pretty significant economic impact here.

244
00:14:04,559 --> 00:14:06,880
Speaker 3: Yeah. Indeed, and I was mentioning that some engines storks

245
00:14:06,880 --> 00:14:09,240
Speaker 3: are down on the back of this announcement. What are

246
00:14:09,240 --> 00:14:12,240
Speaker 3: the wider implications, I mean, will there be lawsuits again

247
00:14:13,120 --> 00:14:15,359
Speaker 3: in the US around this issue?

248
00:14:15,840 --> 00:14:17,760
Speaker 9: Yeah, I mean I think that there is likely to

249
00:14:17,800 --> 00:14:19,960
Speaker 9: be some kind of illegal challenge, right because as we

250
00:14:19,960 --> 00:14:22,480
Speaker 9: were talking about earlier, I mean, the typical cost of

251
00:14:22,520 --> 00:14:25,240
Speaker 9: sponsoring and employee visa in the United States is in

252
00:14:25,400 --> 00:14:27,840
Speaker 9: again that five to ten thousand US dollar range. So

253
00:14:27,840 --> 00:14:33,160
Speaker 9: if you're looking at increasing the application fee tenfold for

254
00:14:33,200 --> 00:14:36,240
Speaker 9: some of these visa applications, there is a question of

255
00:14:36,280 --> 00:14:38,840
Speaker 9: whether that's sort of a legally viable argument. And I

256
00:14:38,880 --> 00:14:41,640
Speaker 9: think that, like many of these really aggressive Trump policies,

257
00:14:41,920 --> 00:14:44,000
Speaker 9: may see something like this work its way through the courts.

258
00:14:44,040 --> 00:14:45,880
Speaker 9: But I think that at least in the short term,

259
00:14:45,880 --> 00:14:47,840
Speaker 9: when you combine this with a lot of the other

260
00:14:47,960 --> 00:14:52,160
Speaker 9: Trump administration policies that have been fairly you know, anti immigrant,

261
00:14:52,200 --> 00:14:54,320
Speaker 9: really focused on bringing jobs back to the United States,

262
00:14:54,360 --> 00:14:56,240
Speaker 9: it does kind of signal a change in how the

263
00:14:56,560 --> 00:14:58,560
Speaker 9: you know, the administration in the United States really thinks

264
00:14:58,560 --> 00:14:59,680
Speaker 9: about these types of workers.

265
00:15:00,440 --> 00:15:02,520
Speaker 2: Yeah, I mean it is very interesting.

266
00:15:02,560 --> 00:15:05,160
Speaker 3: And also in terms of the numbers, just in the

267
00:15:05,360 --> 00:15:08,080
Speaker 3: full year for twenty twenty four, the number of applications

268
00:15:08,120 --> 00:15:11,240
Speaker 3: for these H one B vis as from India just

269
00:15:11,320 --> 00:15:14,160
Speaker 3: over two hundred and eighty three thousand, more than forty

270
00:15:14,200 --> 00:15:18,680
Speaker 3: six thousand applications from a Chinese citizens. So yeah, it's

271
00:15:18,720 --> 00:15:23,120
Speaker 3: certainly a very important and interesting story that is affecting

272
00:15:23,120 --> 00:15:24,680
Speaker 3: a lot of people and cause a lot of chaos

273
00:15:24,720 --> 00:15:25,200
Speaker 3: over the weekend.

274
00:15:25,320 --> 00:15:26,400
Speaker 2: Jill, thank you for being with me.

275
00:15:26,440 --> 00:15:31,520
Speaker 3: Our news desk editor Jill Disis to stay with us.

276
00:15:31,760 --> 00:15:36,080
Speaker 3: More from Bloomberg Day BAQUB coming up after this. Now,

277
00:15:36,080 --> 00:15:40,320
Speaker 3: Bloomberg has obtained a hall of documents that reveals Russia's

278
00:15:40,360 --> 00:15:44,360
Speaker 3: plans to disrupt parliamentary elections in Moldova this weekend. The

279
00:15:44,440 --> 00:15:49,480
Speaker 3: tactics include a disinformation campaign, recruiting Moldovan voters abroad, and

280
00:15:49,560 --> 00:15:53,240
Speaker 3: also organizing protests. Joining us now is Bloomberg's correspondent at

281
00:15:53,280 --> 00:15:58,920
Speaker 3: large for Europe, Alberto Nardelli. Alberto, Hi, what have you found?

282
00:15:59,000 --> 00:16:02,720
Speaker 3: What is the team and about the Kremlin's attempts to

283
00:16:02,800 --> 00:16:04,280
Speaker 3: interfere in Moldova.

284
00:16:04,800 --> 00:16:08,040
Speaker 7: We have obtained and reviewed this cash of documents which

285
00:16:08,200 --> 00:16:12,560
Speaker 7: sets out Russia's plans for this week's elections in Moldova,

286
00:16:12,640 --> 00:16:15,920
Speaker 7: and they show that since the spring, Russia has put

287
00:16:15,960 --> 00:16:19,400
Speaker 7: in place a multi pronged strategy to try and disrupt

288
00:16:19,400 --> 00:16:24,040
Speaker 7: and undermine the election. There are broadly speaking, six areas

289
00:16:24,040 --> 00:16:29,360
Speaker 7: to this plan. These include massive disinformation campaign cyber attacks

290
00:16:29,520 --> 00:16:34,080
Speaker 7: during and after the election, electoral engineering, which basically means

291
00:16:34,120 --> 00:16:36,920
Speaker 7: to give vote the impression that there is a competitive

292
00:16:37,000 --> 00:16:40,160
Speaker 7: contest taking place, but in reality the goal there is

293
00:16:40,800 --> 00:16:44,000
Speaker 7: just to try and dilute the vote and undermine support

294
00:16:44,160 --> 00:16:48,160
Speaker 7: for the governing party. Moscow is also planning to recruit

295
00:16:48,760 --> 00:16:52,960
Speaker 7: members of the Moldovan diaspora living abroad, including in Russia,

296
00:16:53,000 --> 00:16:56,040
Speaker 7: to go and vote in calling stations in the EU

297
00:16:56,120 --> 00:17:01,200
Speaker 7: and elsewhere. You'll recall, in the referendum vote that Moldova

298
00:17:01,640 --> 00:17:05,720
Speaker 7: held last year, voters abroad were critical to that result,

299
00:17:05,960 --> 00:17:09,720
Speaker 7: so Russia is now trying to disrupt the vote abroad

300
00:17:09,760 --> 00:17:12,359
Speaker 7: to try and make that closer. There may also be

301
00:17:12,480 --> 00:17:17,399
Speaker 7: some protest stages at those polding stations. They are using

302
00:17:17,480 --> 00:17:22,160
Speaker 7: compromising materials to pressure officials in key positions, for example

303
00:17:22,600 --> 00:17:26,119
Speaker 7: within the police, security services or the Electoral Commission to

304
00:17:26,200 --> 00:17:30,800
Speaker 7: try and disrupt the administrative process of the election, and finally,

305
00:17:31,480 --> 00:17:35,280
Speaker 7: depending on the result, they are looking to stage provocations

306
00:17:35,280 --> 00:17:40,199
Speaker 7: and protests using criminals similar to what they do in

307
00:17:40,240 --> 00:17:45,360
Speaker 7: their sabotage operations, or young men recruited from sports clubs.

308
00:17:45,960 --> 00:17:50,760
Speaker 7: And they've allocated significant resource to implementing these plans.

309
00:17:51,200 --> 00:17:54,520
Speaker 3: Yeah, and that's a long list. I mean, Russia's influence

310
00:17:54,640 --> 00:17:59,160
Speaker 3: campaigns are well known, but they are constantly evolving. I mean,

311
00:17:59,280 --> 00:18:02,320
Speaker 3: Moldova is not a huge country two point four million people.

312
00:18:03,119 --> 00:18:06,359
Speaker 3: What is the EU doing and saying about this? And

313
00:18:06,400 --> 00:18:08,520
Speaker 3: even why is the EU so important in this?

314
00:18:09,200 --> 00:18:13,320
Speaker 7: It is a very small country, but it's position between

315
00:18:13,600 --> 00:18:17,639
Speaker 7: Ukraine when there's a war going on and NATO slash

316
00:18:17,680 --> 00:18:22,639
Speaker 7: EU territory, so it's also a pivotal country and the

317
00:18:22,760 --> 00:18:28,240
Speaker 7: direction it takes could have significant consequence. The European Union

318
00:18:28,680 --> 00:18:33,479
Speaker 7: and other countries have highlighted Russian interference before, and there

319
00:18:33,480 --> 00:18:36,040
Speaker 7: are areas where they are trying to intervene. For example,

320
00:18:36,080 --> 00:18:39,480
Speaker 7: in terms of this information campaign, they try to work

321
00:18:39,520 --> 00:18:43,760
Speaker 7: with social media companies to try and showcase and remove

322
00:18:44,560 --> 00:18:49,359
Speaker 7: any content that is shown to be foreign interference or

323
00:18:49,440 --> 00:18:54,879
Speaker 7: state backed propaganda. They help countries with to try and

324
00:18:54,880 --> 00:18:57,879
Speaker 7: defend themselves from cyber attacks, but ultimately there is not

325
00:18:58,040 --> 00:19:00,680
Speaker 7: much that they can do in terms of if you

326
00:19:00,720 --> 00:19:03,760
Speaker 7: look at some of the elements such as the protests

327
00:19:03,880 --> 00:19:08,280
Speaker 7: or trying to pressure local officials or disrupting votes abroad.

328
00:19:08,320 --> 00:19:12,200
Speaker 7: And we've seen in other countries like Georgia or Romania

329
00:19:13,000 --> 00:19:16,200
Speaker 7: where Russian interference has had an impact. Because at the

330
00:19:16,280 --> 00:19:18,280
Speaker 7: end of the day, there is not a lot that

331
00:19:18,359 --> 00:19:21,639
Speaker 7: these countries can actually do in terms of having a

332
00:19:21,680 --> 00:19:24,440
Speaker 7: significant impact on these campaigns.

333
00:19:24,800 --> 00:19:26,480
Speaker 3: So what does it mean do you think then for

334
00:19:26,600 --> 00:19:30,560
Speaker 3: President Maya Sandu and her party, the PAS party, I mean,

335
00:19:30,600 --> 00:19:33,800
Speaker 3: if they don't get a parliamentary majority, there'd be a

336
00:19:33,800 --> 00:19:37,280
Speaker 3: coalition government. From what you've been reporting, what does it

337
00:19:37,359 --> 00:19:39,720
Speaker 3: mean for her and the political party?

338
00:19:40,080 --> 00:19:43,240
Speaker 7: It's very challenging because from a coalition, So if there

339
00:19:43,320 --> 00:19:47,879
Speaker 7: is an outcome where no one has a majority, then

340
00:19:48,440 --> 00:19:51,840
Speaker 7: the two main options are a coalition or you have

341
00:19:51,960 --> 00:19:55,520
Speaker 7: certain instances where votes just get repeated until this there

342
00:19:55,600 --> 00:19:59,200
Speaker 7: is a clearer outcome. But as I mentioned before, one

343
00:19:59,240 --> 00:20:03,560
Speaker 7: of the key go of Russian campaigns is exactly to

344
00:20:03,760 --> 00:20:07,439
Speaker 7: not have a clear result, so to create chaos and

345
00:20:07,640 --> 00:20:14,920
Speaker 7: disruption in countries, to create uncertainty, and Russia does this

346
00:20:14,960 --> 00:20:18,320
Speaker 7: inside Russia too, where you have candidates in elections which

347
00:20:18,320 --> 00:20:23,560
Speaker 7: are standing against Hutin, but in reality, each of these

348
00:20:23,600 --> 00:20:26,960
Speaker 7: candidates is playing a role, almost as if it were

349
00:20:26,960 --> 00:20:29,720
Speaker 7: a film, where the outcome is known at the end

350
00:20:29,720 --> 00:20:31,800
Speaker 7: of the day. The candidate who wins that election is

351
00:20:32,760 --> 00:20:36,720
Speaker 7: very clear from the beginning. So Moscow's goal isn't necessarily

352
00:20:36,800 --> 00:20:40,480
Speaker 7: always to have a clear result, but that uncertainty is

353
00:20:40,680 --> 00:20:44,359
Speaker 7: part of the strategy because then you can stage protests.

354
00:20:44,480 --> 00:20:48,640
Speaker 7: Voters start getting getting uneasy that there is no government,

355
00:20:49,119 --> 00:20:53,840
Speaker 7: that there's instability, so people start protesting and demonstrating, and

356
00:20:53,920 --> 00:20:59,480
Speaker 7: that situation, that chaotic scenario, is part and integral to

357
00:20:59,640 --> 00:21:00,680
Speaker 7: MOSCs strategy.

358
00:21:01,920 --> 00:21:04,639
Speaker 1: This is Bloomberg Daybreak Europe, your morning brief on the

359
00:21:04,720 --> 00:21:07,760
Speaker 1: stories making news from London to Wall Street and beyond.

360
00:21:08,119 --> 00:21:11,280
Speaker 3: Look for us on your podcast feed every morning, on Apple,

361
00:21:11,440 --> 00:21:14,200
Speaker 3: Spotify and anywhere else you get your podcasts.

362
00:21:14,280 --> 00:21:17,320
Speaker 1: You can also listen live each morning on London Dab Radio,

363
00:21:17,359 --> 00:21:20,040
Speaker 1: the Bloomberg Business app, and Bloomberg dot Com.

364
00:21:20,080 --> 00:21:22,880
Speaker 3: Our flagship New York station, is also available on your

365
00:21:22,880 --> 00:21:27,600
Speaker 3: Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty.

366
00:21:27,840 --> 00:21:29,240
Speaker 3: I'm Caroline Hepka.

367
00:21:29,000 --> 00:21:31,439
Speaker 1: And I'm Stephen. Carol. Join us again tomorrow morning for

368
00:21:31,560 --> 00:21:33,960
Speaker 1: all the news you need to start your day right

369
00:21:34,000 --> 00:21:35,240
Speaker 1: here on Bloomberg Daybreak.

370
00:21:35,280 --> 00:21:36,720
Speaker 7: Europe