News

A ransomware attack against Collins Aerospace has caused major disruptions in several airports across Europe for the fourth consecutive day. London’s Heathrow airport, Brussels airport, Berlin Brandenburg airport, and Dublin airport are all experiencing significant flight delays, with some airports reporting delays of up to one hour. Passengers are advised to check with their airlines for updates on their flights.

Despite efforts to implement manual workarounds, the IT issues affecting check-in and boarding systems are still unresolved. Collin Aerospace’s parent company, RTX, has not provided any updates on the recovery process. Airports impacted by the ransomware attack are working towards a solution, but the timeline for a fix remains uncertain. Stay tuned for further developments on this ongoing situation.

Oracle is shaking up its executive suite as it sets its sights set on AI infrastructure dominance. The company announced Monday that it is promoting Clay Magouyrk and Mike Sicilia to co-CEO roles. Magouyrk joined Oracle in 2014 from Amazon Web Services. He was a founding member of Oracle’s cloud engineering team and has served as the president of Oracle’s cloud infrastructure business unit for more than a decade.

Sicilia has served as the president of Oracle’s industries division since June. He held several different roles at the company since he joined through Oracle’s acquisition of project portfolio management company Primavera Systems in 2008. Safra Catz, who has been Oracle’s CEO since 2014, is moving into a new role as the executive vice chair of Oracle’s board of directors.

The Pentagon has introduced new restrictions for credentialed journalists, requiring them to sign a pledge not to report unauthorized information, even if it is unclassified. Failure to comply may result in the loss of access to the military headquarters. This move has been criticized by press freedom advocates as an attack on independent journalism.

Defense Secretary Pete Hegseth emphasized the need for journalists to follow the rules and wear badges when inside secure facilities. The restrictions come amid a broader trend of increased government pressure on the media landscape, with President Donald Trump at the forefront of challenging traditional journalistic practices.

Large tech companies like Amazon, Google, and Microsoft have instructed employees with H-1B visas to remain in the United States following President Trump’s proclamation of a $100,000 fee for visa applications. The companies have advised those with H-1B visas to avoid foreign travel for now and to return before the fee takes effect on Sunday at 12:01 am Eastern.

According to reports, Amazon employees have been granted the most H-1B visas this fiscal year. The White House clarified that the fee will only apply to new applicants, not existing visa holders or renewals. H-1B visa holders are assured they can leave and re-enter the country as usual, unaffected by the recent proclamation.

The Bureau of Labor Statistics (BLS) announced a significant downward revision in job numbers, with 911,000 fewer jobs added in the year ending March 2025 than previously reported. This revision marks the largest on record, surpassing the previous record of 818,000 in 2024. The BLS has come under scrutiny for its methodology, especially with the recent departure of former commissioner Erika McEntarfer amidst accusations of data manipulation by President Trump. The new chief economist, E.J. Antoni, faces challenges in adjusting the models to account for the surge in new business formations.

The BLS utilizes the birth-death model to estimate new business activity, but the unprecedented increase in filings since the pandemic has led to significant discrepancies in the job numbers. Economists at Goldman Sachs noted that the model may have been overly optimistic in the second half of 2024, leading to inaccurate job projections. The inability of the BLS to accurately capture the evolving job market poses challenges for policymakers and analysts alike.

Heather Long, chief economist at Navy Federal Credit Union, highlighted the impact of the surge in new business formations on the job numbers. With low barriers to entry and a growing interest in entrepreneurship, the future of these new ventures remains uncertain. The ongoing revisions underscore the need for the BLS to adapt its models to reflect the changing dynamics of the labor market.

A new $100,000 fee for H-1B visas in the United States will go into effect on Sunday, affecting only new applicants. Existing visa holders re-entering the country will not be charged this fee. The White House clarified that the fee is a one-time charge per petition and aims to level the playing field for American workers.

There is still uncertainty about how the policy will handle H-1B holders who are outside the U.S. when it goes into effect. The White House said they will not be charged to re-enter.

The Treasury Department has taken a step closer to fulfilling President Donald Trump’s promise of no tax on tips with the release of new guidance. The proposed regulations, submitted to the Federal Register, provide details on the occupations covered by the rule and the qualifications for claiming the benefit of tax-free tips.

The provision, part of the Republicans’ tax and spending law, allows certain workers to deduct up to $25,000 in qualified tips per year from 2025 through 2028, with a phase-out for higher income earners. In order to qualify as a tip, it must be earned in one of the Treasury’s listed occupations, be voluntary, and given in traditional forms such as cash, check, or gift card.