Jul 8, 2017

Trump plans to halt entrepreneur visas next week

AP

In the coming days, the Trump administration will take steps to delay and ultimately rescind an Obama administration rule allowing foreign entrepreneurs to come to the U.S. to start companies, sources familiar with the situation tell Axios.

The details: The rule, called the International Entrepreneur Rule, is scheduled to go into effect July 17. U.S. Citizen and Immigration Services will take a procedural step to postpone that implementation date as soon as Monday, according to sources. In addition, the agency is expected to start the formal process to eliminate the rule. A USCIS spokesperson said the rule is "under review." More details on the rule here.

Why it matters: Since the rule hasn't yet taken effect, scrapping it won't change anyone's visa status. Still, it's a setback for tech and venture capital firms that supported the rule — and it's another sign of Trump's resolve to restrict visas, even for high-skilled immigrants.

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Peter Navarro defends hydroxychloroquine use in heated CNN interview

White House economic adviser Peter Navarro defended the use of anti-malarial drug hydroxychloroquine to treat coronavirus during a CNN interview Monday, highlighting "the possibility" that it has therapeutic efficacy.

Why it matters: Navarro did not deny reporting from Axios' Jonathan Swan that he got into a heated exchange in the White House Situation Room over the weekend with infectious disease expert Dr. Anthony Fauci about the drug's prospects against the illness.

Special report: Health care workers vs. coronavirus

Photo Illustration: Sarah Grillo/Axios. Photos: Angela Weiss/AFP via Getty Images, Bruce Bennett/Getty Images, and Europa Press News/Europa Press via Getty Images

Health care workers are at an especially high risk of catching the coronavirus, because of their prolonged exposure to patients who have it. Making matters worse, the U.S. doesn't have enough of the protective equipment, like masks and gloves, that keeps them safe.

  • And yet these workers, with loved ones of their own, keep showing up at hospitals across the country, knowing that more Americans than they can possibly care for are depending on them.
Go deeperArrow52 mins ago - Health

Backed by the Fed, bond investors get bullish

Illustration: Sarah Grillo/Axios

The Fed's massive injections of liquidity have reopened much of the bond market, and after back-to-back weeks in which more than $100 billion flowed out of bond funds, investors have regained their bearings and now see opportunity.

What's happening: But after the hemorrhaging outflows relented last week, bulls may now be sticking their heads out a bit too far. Junk bond funds took in more than $7 billion for the week ended April 1, according to Refinitiv Lipper, setting a new weekly record.