An American executive order on H-1B visas will only hit US firms badly, as it will prevent intra-company transfers by Indians who are working for American banks, automobile companies and pharmaceutical firms, the head of Tata Consultancy Services, India's biggest outsourcing company, has warned.
The US has suspended the issue of green cards and new H-1B visas in a move that has been slammed by the IT industry, a sector that depends on H-1B holders to carry out a sizeable amount of work.
Software giant Microsoft has paid US$25 million to the US Government to settle investigations into bribery by its Hungarian operations, with the company entering into a non-prosecution agreement with the US Department of Justice and a cease-and-desist order with the Securities and Exchange Commission.
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