How new H-1B visa regime will impact Indians, Indian firms

Donald Trump holding a sign

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In yet another policy stance change on H-1B visa within six months, the US administration on October 6 said it was announcing an “interim final rule” which will “strengthen” the non-immigrant work visa programme. The new rules will be effective 60 days from their publication in the Federal Register, which is the official journal of the US government, much like the Gazette of India.

What is an interim final rule?

Executive policies announced by agencies such as the Department of Homeland Security (DHS) or the US Citizenship and Immigration Services (USCIS) require them to consult stakeholders and give them a notice period of 60 days and seek comments before any sweeping changes are brought in. This method allows agencies such as DHS to act with urgency and within a specified time after a new rule or law is made.

In the latest announcement on

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Ruby Tuesday files bankruptcy. Here are options for struggling firms

Kirby Hamilton | Getty Images

For some small-business owners, watching their larger peers file for bankruptcy may do little to ease fears about their own financial solvency.

With the coronavirus pandemic continuing to take a toll on the economy, Ruby Tuesday has become the latest large restaurant chain to seek protection under the U.S. bankruptcy code. While many of its restaurants will close, others will remain open as the company restructures its business. Meanwhile, California Pizza Kitchen, which announced its bankruptcy filing in July, has now canceled its planned auction after no bidders came forward and is turning ownership over to its lenders, according to published reports.

While restaurants have taken a beating during the pandemic perhaps more so than some other industries due to earlier closures and reopening with limited capacity in most places, other businesses aren’t immune to the effects of the current economic downturn.

Of course, large

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