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Business chiefs urge Trump to ease up on immigration crackdown after Georgia raid

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Business chiefs urge Trump to ease up on immigration crackdown after Georgia raid


EPA/Shutterstock A still frame showing people with their hands up leaning against a bus from a video made available by the US Immigration and Customs Enforcement via the Defense Visual Information Distribution Service (DVIDS) shows an immigration raid at the Hyundai-LG vehicle assembly plant in Ellabell, Georgia, USA, 04 September 2025EPA/Shutterstock

President Donald Trump is facing calls from business leaders to “turn the page” on his immigration crackdown after a raid at a Hyundai plant in the US state of Georgia.

It was the largest such raid in US immigration history, sweeping up 475 workers, including about 300 people from South Korea.

The decision to target the project, backed by a company the president has celebrated for putting money and factories in the US, sparked shock and outrage in South Korea, where politicians and business leaders have warned it will chill willingness to invest in the US.

In the US, business groups said the raid was likely to hit local business activity as well, as it scares off key parts of the workforce.

“Those actions are having ripple and ancillary effects on others, real and unintended, unfortunately whether they’re in legal status or not,” said Jeff Wasden, president of State Business Executives, which represents state lobby groups from businesses across the economy.

He said he had emailed the White House on Monday, hoping the moment provided an opening to shift from enforcement to fixes to the US immigration system.

While praising Trump for stopping the flow of migrants across the border, he said the raids were generating “fear” and “dampening” US economic activity.

“We’ve got to turn the page,” he said. “It’s time to focus on the workforce and how we fix some of these programmes and problems.”

Visa tensions

Since the raid, construction at the site, a partnership between Hyundai and LG Energy Solutions that will make batteries for its electric cars, has halted.

LG and other top South Korean firms have also put new limits on business travel to the US, according to South Korean media.

South Korean officials have indicated that many of those detained who were from South Korea had entered the US on temporary visas that allow workers to visit for business meetings or conferences, but not paid employment in the US.

Such visas have been a common workaround used by businesses in the country, which have long been frustrated that they do not benefit from a more expansive visa programme, like one currently enjoyed by countries such as Australia.

Many Trump supporters oppose loosening visa rules, arguing that such programmes have been used by big business to import cheaper foreign workers and freeze out American citizens.

But as the US pushes to reshore industries such as semiconductors, trade groups say there are not enough workers with the necessary skills in the US.

In a statement to the BBC, Jae Kim, president of the Southeast US Korean Chamber of Commerce, a group aimed at boosting ties between South Korea and the south-eastern US, said it was “not an easy process” for foreign firms to secure visas, especially for temporary workers.

He warned that the hold-ups made it “hard to make such next generation manufacturing projects prosper in the US” and urged a “stronger balance” of US priorities.

In remarks to reporters over the weekend, Trump has acknowledged the complaints about the visa process, telling reporters: “We’re going to look at that whole situation.”

In a follow-up post on social media, Trump said foreign investments were “welcome”, but called on foreign companies to “please respect our Nation’s Immigration Laws”.

“We encourage you to LEGALLY bring your very smart people, with great technical talent, to build World Class products, and we will make it quickly and legally possible for you to do so,” he wrote on Sunday, adding: “What we ask in return is that you hire and train American Workers.”

But it’s not clear to what extent the administration plans to alter its approach.

In an appearance on CNN on Sunday, border czar Tom Homan said more worksite raids were coming.

Trump has previously confronted tensions between his promises to ease the way for business and his aggressive immigration policies.

Before he even took office, his supporters broke out in a bitter online brawl about whether the administration should make it easier for companies to secure visas for high-skilled tech workers.

The fight pitted Elon Musk and other tech gurus who had supported his campaign against former Trump campaign manager Steve Bannon.

Cracks in the coalition emerged again this June, as the White House stepped up its worksite raids, drawing outcry from farmers and hotels. The administration suggested it would modify its approach, only to reaffirm crackdown a few days later.

Jennie Murray, chief executive of the National Immigration Forum, a group that advocates for immigrants and has been involved in discussions about reforms, said the recent messages from the White House had been “mixed”.

But she said some top Trump officials, including those from the labour and agriculture departments, had been receptive to business concerns about workplace raids, which previous presidents have largely avoided due to their controversy and economic costs.

She said she saw those arguments making inroads, especially as economic costs of raids like the one in Georgia become evident.

“The impact is starting to speak for itself,” she said. “As the economy continues to take hits and really starts to slow, which is likely going to happen in the next couple of months, I think there are a lot of folks who are willing to have conversations about what those solutions are.”

But Douglas Holtz-Eakin, president of the American Action Forum, a center-right policy institute, said he had seen little sign that the administration was preparing to change its approach.

He added of the president: “He’s highly tuned to pressure. If the pressure becomes large enough, he’ll alter the policy but we haven’t seen that yet.”



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Apple hits a record! Becomes third tech giant to cross $4 trillion valuation; joins Microsoft, Nvidia club – The Times of India

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Apple hits a record! Becomes third tech giant to cross  trillion valuation; joins Microsoft, Nvidia club – The Times of India


File photo (Picture credit: AP)

Apple has reached a historic milestone, becoming the third Big Tech company to cross $4 trillion in market value, driven by strong demand for its latest iPhone lineup.The company’s shares were last up 0.2 per cent at $269.2 in early trading on Tuesday, marking a record high, reported news agency Reuters.Apple’s stock has surged nearly 13 per cent since the launch of the iPhone 17 series and iPhone Air on September 9, reversing earlier losses and pushing the stock into positive territory for the first time this year. Analysts said the robust demand for the new devices, especially in key markets such as the US and China, helped offset concerns about the company’s slower progress in artificial intelligence.“The iPhone accounts for over half of Apple’s profit and revenue, and the more phones they can get into the hands of people, the more they can drive people into their ecosystem,” said Chris Zaccarelli, chief investment officer at Northlight Asset Management, ahead of the milestone, as quoted by Reuters.According to data from Counterpoint Research, sales of the iPhone 17 outperformed its predecessor by 14 per cent in the US and China. The ultra-slim iPhone Air is also expected to help Apple fend off competition from Samsung Electronics.Brokerage Evercore ISI expects the strong iPhone demand to help Apple beat market expectations for the September quarter and issue a positive forecast for the December quarter. The company is set to announce its fourth-quarter earnings on October 30, according to CNBC.Apple’s cautious approach to AI continues to raise investor concerns, especially amid reports that some of its senior AI executives have moved to Meta. The company’s Apple Intelligence suite, including ChatGPT integration, has been rolled out slowly, while an AI upgrade to Siri has been delayed until next year.Zaccarelli added, “The lack of a well-understood artificial intelligence strategy is clearly one of the things that is an overhang for the stock. If they could figure out how to incorporate artificial intelligence in a way that would excite consumers and the market, you’d see a whole different company.”Apple joins Nvidia and Microsoft in the $4 trillion club. Nvidia remains the world’s most valuable company with a market cap of over $4.5 trillion, while Microsoft recently reclaimed its spot after shares rose 2.2 per cent following a new deal with OpenAI to restructure it into a public benefit corporation.





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Electric PVs Volume Rebound Amid Festive Demand After Knee-Jerk Reaction To GST Cut On ICE Vehicles

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Electric PVs Volume Rebound Amid Festive Demand After Knee-Jerk Reaction To GST Cut On ICE Vehicles


New Delhi: Electric passenger vehicle volumes are back in action after the initial knee-jerk reaction to the reduction in GST on internal combustion engine (ICE) vehicles, according to a report by YES Securities. The report noted that festive demand for electric passenger vehicles has remained healthy, with average retail growth of around 15-20 per cent year-on-year.

It stated “E PV volumes back in action post initial knee jerk reaction to reduced GST on ICE”. Original equipment manufacturers (OEMs) are offering higher schemes on stocks aged over 90 days to boost sales.

Additionally, a loyalty discount of Rs 50,000 is being provided to existing brand customers to further support volumes. Inventory levels for EVs are said to be under control as dealers have refrained from picking up incremental volumes, keeping their focus largely on ICE vehicles amid changing market dynamics.

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Another notable trend emerging from the market is the increase in the share of first-time car buyers, which has inched up by 4-5 per cent across regions, a positive sign for the overall passenger vehicle market.

Market interactions indicate that demand trends are shifting back to pre-GST 2.0 levels, with higher preference towards compact and mid-sized SUVs within the passenger vehicle segment.

While the demand for premium hatchbacks and SUVs continues to remain robust, small cars have seen an uptick in bookings by 30-40 per cent, primarily driven by rural demand and higher discounts.

However, within urban markets, small cars continue to face weak natural demand due to their limited aspirational appeal.

The weakness in this segment over the years has been attributed to changing customer preferences, where buyers increasingly seek fresh designs and premium features, and affordability is no longer a major constraint.

Analysts note that the recent increase in small car inquiries is largely a result of sharp price cuts and discounts following the GST reduction, coupled with a rise in 2-wheeler upgrades and vehicle exchanges. The ongoing marriage season is also expected to contribute to additional volumes in this category.

However, the sustainability of this recovery beyond January 2026 remains uncertain.

The current momentum in the small car segment is heavily dependent on the continuation of existing discounts and promotional offers, which are expected to be gradually withdrawn after the festive period.

Industry experts suggest that any sustained recovery in small car demand would hinge on further price cuts or new model launches in the coming months.



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UPS stock soars on third-quarter earnings beat, turnaround plan

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UPS stock soars on third-quarter earnings beat, turnaround plan


A UPS worker pushes a cart in New York, US, on Monday, Oct. 27, 2025.

Michael Nagle | Bloomberg | Getty Images

United Parcel Service on Tuesday reported earnings that topped Wall Street’s estimates ahead of its busy holiday season.

Shares of the package delivery giant surged 10% in premarket trading.

Here’s how the company performed in its third quarter, compared with what Wall Street was expecting based on a survey of analysts by LSEG:

  • Earnings per share: $1.74 adjusted vs. $1.30 expected
  • Revenue: $21.4 billion vs. $20.83 billion expected

For the period ended Sept. 30, the company reported net income of $1.31 billion, or $1.55 per share, compared with $1.99 billion, or $1.80 per share, the year prior. Adjusting for one-time items, including costs of its transformation strategy, the company reported profit of $1.48 billion or $1.74 per share.

UPS estimates its fourth quarter revenue to be $24 billion with an operating margin of 11% to 11.5%.

The company also on Tuesday laid out details of its previously announced turnaround plan and said it cut its workforce by 34,000 jobs, greater than its previous estimate of 20,000, as part of its plan to trim down its work with Amazon, previously its largest customer.

UPS also initiated a sale-leaseback transaction in the third quarter for five properties as part of its broader strategy, which resulted in a $330 million pre-tax gain on sale in its supply chain solutions division. It said Tuesday that it has now closed daily operations at 93 leased and owned buildings through September as part of the initiative.

UPS said its turnaround plan has resulted in $2.2 billion in savings through the end of the third quarter, with an estimate of achieving $3.5 billion total year-over-year cost savings in 2025.

“We are executing the most significant strategic shift in our company’s history, and the changes we are implementing are designed to deliver long-term value for all stakeholders,” CEO Carol Tomé said. “With the holiday shipping season nearly upon us, we are positioned to run the most efficient peak in our history while providing industry-leading service to our customers for the eighth consecutive year.”

The courier’s strong results come as the parcel industry faces a volatile tariff environment and sluggish demand, in addition to impacts from the end of the de minimis loophole. Rival FedEx said last month that it incurred $150 million in headwinds from the global trade environment.



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