Global Glance: Trump’s visa program, explained; Facebook wants to augment your reality

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Here are today’s top business headlines from across the nation and world:

AP Explains: Behind the visa program targeted by Trump

NEW YORK (AP) — President Donald Trump is targeting a visa program cherished by tech companies for bringing in programmers and other specialized workers from other countries. Although these visas, known as H-1B, aren’t supposed to displace American workers, critics say the program mostly benefits consulting firms that let tech companies save money by contracting out their jobs to foreign workers. Trump signed an order Tuesday to direct the departments of Homeland Security, Justice, Labor and State to propose new rules to prevent immigration fraud and abuse. Those departments would also be asked to offer changes so that H-1B visas are awarded to the “most-skilled or highest-paid applicants.” Read more

Facebook wants to augment your reality

SAN JOSE, Calif. (AP) — Facebook wants you to sit in your bedroom wearing a headset and take a virtual vacation with faraway friends and family. Or use your smartphone’s camera to spruce up your dinky apartment, at least virtually. The promise of augmented and virtual reality was a big focus of Facebook’s annual conference for developers on Tuesday. CEO Mark Zuckerberg kicked off the gathering of programmers and other tech folks by talking about augmented reality tools he envisions on Facebook. Read more

Ex Microsoft CEO Steve Ballmer offers facts on government

NEW YORK (AP) — Former Microsoft CEO Steve Ballmer has created a new organization to analyze government spending and revenue to make it easier to understand. He says he created USAFacts because he was frustrated he couldn’t find a single source that combined all the relevant local, state and federal numbers. Ballmer gathered a group of data specialists that spent nearly three years compiling the information for its first reports, which are available online at www.USAFacts.org . The reports will be updated periodically. Read more

Yahoo bows out as public company with revenue shrinking

SUNNYVALE, Calif. (AP) — Yahoo is bowing out as a public company with its revenue still declining, a chronic problem that culminated in its sale to Verizon Communications. Despite the revenue downturn, Yahoo fared better during the first three months of the year than analysts had anticipated – a low bar that was another sign of how far the internet pioneer has fallen during the past decade. The results released Tuesday will mark the final quarterly report of Yahoo’s 21-year history as a publicly traded company unless the Verizon deal unexpectedly falls apart. Yahoo expects the $4.5 billion sale to close in June before the end of the second quarter. Read more

United CEO says no one will be fired for dragging incident

The CEO of United Airlines says no one will be fired over the dragging of a man off a plane – including himself. CEO Oscar Munoz said Tuesday that he takes full responsibility “for making this right,” and he promised more details later this month after United finishes a review of its policies on overbooked flights. Company executives said it’s too soon to know if the incident is hurting ticket sales. Read more

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