Talks aimed at ending New Jersey Transit rail strike to resume Saturday, railroad CEO says
An empty PATH train platform inside Newark Penn Station (AP)
NEWARK: Talks aimed at settling a strike between train engineers and New Jersey's huge commuter railroad will pick up on Saturday and continue Sunday, New Jersey transit CEO Kris Kolluri said.
The locomotive engineers' strike began Friday at the rail system with 350,000 daily riders and left commuters either working from home or searching for other ways to travel across the state or over the Hudson River to New York City.
Kolluri spoke Saturday at Newark's broad street station, saying the agency is preparing for the workweek commute by "surging" buses to help commuters at train stations. But he cautioned that the buses can't handle the entire volume of the commuter rail system.
Kolluri said he and
Brotherhood of locomotive engineers and trainmen
President Mark Wallace spoke and agreed to meet Saturday. It had been uncertain whether the two sides would meet ahead of a National Mediation Board meeting already set for Sunday.
"We're going to meet the union today. We're going to meet them tomorrow, with this goal of getting to a deal so we can get them back to work, get our customers the reliable service they need," Kolluri said.
Wallace confirmed in a phone interview that he and Kolluri would resume negotiations, which ended shortly before the strike Thursday night, on Saturday afternoon in Newark.
"If we come out together, we'll have a deal," Wallace said.
The walkout comes after the latest round of negotiations on Thursday didn't produce an agreement. It is the state's first transit strike in more than 40 years and comes a month after union members overwhelmingly rejected a labor agreement with management.
Wallace walked the picket line Friday outside New York City's Penn Station, and said the engineers are committed to staying on strike until they get a fair deal.
Union members were nearly unanimous in authorizing a strike last summer, and 87% of them rejected the latest agreement.
Wallace said NJ Transit needs to pay engineers a wage that's comparable to Amtrak and Long Island Railroad because engineers are leaving for jobs on those other railroads for better pay,
The union has seen steady attrition in its ranks at NJ Transit as more members leave to take better-paying jobs at other railroads. The number of NJ Transit engineers has shrunk from 500 several months ago to about 400. The engineers are responsible for operating trains, ensuring safe and smooth transport between stations,
New Jersey Democratic Gov.
Phil Murphy said Friday that it is important to "reach a final deal that is both fair to employees and at the same time affordable to New Jersey's commuters and taxpayers."
NJ Transit is the nation's third-largest transit system and operates buses and rail in the state, providing nearly 1 million weekday trips, including into New York City. The walkout halts all NJ Transit commuter trains, which provide heavily used public transit routes between Penn Station on one side of the Hudson River and communities in northern New Jersey on the other, as well as the Newark airport, which has grappled with unrelated delays of its own recently.
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Business Standard
2 hours ago
- Business Standard
Can foreign students still work in the US.? OPT programme faces scrutiny
If you're an international student—or planning to become one—understanding your financial and career risks in the U.S. right now is essential. Recent policy shifts are raising serious concerns for students on F-1 visas, especially those relying on Optional Practical Training (OPT) or aiming for long-term careers in the U.S. Here's a clear explainer of what's happening. As the U.S. tightens immigration policies under the Trump administration, thousands of international students—including recent graduates from top institutions like MIT and Harvard—are reconsidering their American dreams. The growing threat to the Optional Practical Training (OPT) program, which allows foreign graduates to work in the U.S. after completing their studies, has sparked a wave of anxiety and career uncertainty. Bob Zeng, a 30-year-old Chinese student graduating from MIT with a master's degree in science and management, had long envisioned building a life in the U.S. But with the administration signaling the possible end of post-study work permits for foreign students, Zeng is now considering moving to Europe or returning to China. 'I'm worried about working here,' he told AP. 'You never know what's going to happen.' Zeng's concerns are not isolated. Nearly 240,000 international students in the U.S. rely on OPT—a one-year work authorization (extendable up to three years for STEM graduates)—as a critical bridge between education and employment. The program not only gives students experience in U.S. companies but often leads to H-1B visa sponsorship and, for some, permanent residency. What is OPT and Why it matters? Optional Practical Training (OPT) is a U.S. work program that allows international students on F-1 visas to work for 12 months after graduation (up to 36 months for STEM graduates). It's the bridge between university and a career—offering practical job experience and often serving as a stepping stone to an H-1B visa or permanent residency. Around 240,000 students are currently on OPT. What is changing and why you should care The U.S. government may end OPT. Trump-era immigration leaders, like USCIS nominee Joseph Edlow, are pushing to stop post-graduate work authorization for F-1 students. Visa revocations and surveillance: Students with minor police interactions or missing employment record updates have had their visas threatened or revoked. Chinese students are being singled out, with new policies targeting those linked to the Chinese Communist Party or studying in 'critical' fields. How Trump has targeted foreign students in the US Threats to end OPT visa Trump's administration has openly considered ending the Optional Practical Training (OPT) program, which allows international students to work in the U.S. after graduation. This has created major uncertainty for students hoping to gain career experience. Increased visa scrutiny: The administration added extra layers of vetting for F-1 student visas, making it harder for international students to get approved or stay in the country. Termination of legal status: In April, ICE began terminating the legal status of student visa holders who were found in police databases — even without charges or convictions. Many of these were OPT participants, forced to leave jobs or risk legal trouble. Threat letters to graduates: In May, many recent graduates received letters warning them that their visa status would be revoked unless they updated employment records. Even though corrections were allowed, the letters caused panic and stress among students. Targeting Chinese students: Recently, the administration announced plans to revoke visas for Chinese students connected to the Communist Party or those in 'sensitive' academic fields — a move that raised fears of racial profiling and academic discrimination. Mixed Signals: Trump once floated the idea of offering green cards to international graduates but his policies took a sharp turn toward restricting student opportunities Trump's nominee for director of United States Citizenship and Immigration Services, Joseph Edlow, said during his confirmation hearing on May 21 that he would like to see an end to post-graduate work authorization for international students. "What I want to see would be essentially a regulatory and sub-regulatory program that would allow us to remove the ability for employment authorizations for F-1 students beyond the time that they are in school," said Edlow, referring to the F-1 visas on which most international students attend college in the US. The opportunity to gain career experience at US companies, especially in technology and other fields where American companies dominate, has long been a draw of studying in the US. Many enter the H-1B visa lottery, hoping to be selected for one of the employer-sponsored visas that offer a pathway to permanent residency in the United States. Threatening practical training opportunities would have long-term consequences for the US in attracting international students, Fanta Aw, CEO of NAFSA, which represents international educators, told the AP. Like many international students, Marko, 29, finds himself glued to the news with a growing sense of alarm. His Optional Practical Training expires in a month, and he has applied for an extension but hasn't heard back, leaving him in limbo. Lawyers for the tech company where he works in New York City advised him to carry proof of his legal status in his wallet, which he finds "dehumanising." "The message being sent now is that: You are not one of us, and we are going to get rid of you," said Marko, who asked that only his first name be used because he is worried about being targeted for removal from the country. He has lived in the US for a decade spanning college and graduate school, but his family and friends back home have encouraged him to leave. His hope is that he gets the OPT extension and can then apply for an H-1B visa and continue his life in the US, but he also worries about anti-immigrant sentiment and who will be targeted next. Recent crackdowns have only added to the chaos. In April, Immigration and Customs Enforcement (ICE) began terminating student visas for those flagged in police databases—even for minor or mistaken entries. Though many were reinstated after legal action, several students chose to leave preemptively. The administration has also moved to revoke visas of Chinese students studying in sensitive fields or allegedly connected to the Chinese Communist Party. These developments have pushed students like Yurong "Luanna" Jiang, a Chinese graduate of Harvard University, to reconsider their future in the U.S. 'Everything is up in the air,' she said, now open to working anywhere in the world. For students who once saw the U.S. as a land of opportunity, the message today is less welcoming. 'It feels like there's a war on immigrants,' said Guy, a UK citizen and HIV researcher at Mount Sinai Hospital in New York, who would be forced to leave the country if OPT is eliminated. 'It's not a particularly attractive place to stay and do science right now.' What students can do right now? Keep your employment records up to date in SEVIS and on your university's system. Consult an immigration attorney if you're near the end of your OPT or applying for an H-1B. Have a backup plan: Look into career options in Canada, UK, EU, or back home where policies may be more stable.
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First Post
3 hours ago
- First Post
From Taco to Mega, what are the Trump acronyms becoming a huge hit on Wall Steet?
Donald Trump's love for coming up with slogans and snappy acronyms has made him popular on the Wall Street. Now, investors have gone a step further and created their own acronyms, some which may not sit well with the US president read more The Wall Street has come up with several acronyms for Donald Trump. File image/AP Four months into President Donald Trump's second term, market observers have taken a cue from his fondness for condensing slogans into catchy acronyms like Maga, Doge and Maha, and devised a few of their own that have been spreading across trading desks. Even those acronyms that do not directly reflect a specific trading strategy, still capture factors that traders say are important in Trump-era markets, such as volatility and uncertainty, that investors need to consider when making decisions. STORY CONTINUES BELOW THIS AD Some of the new labels are associated with investment strategies that aimed to capitalise on Trump's economic and trade policies and international relations goals. Others riff off economic implications or his abrupt U-turns as markets and trade partners react to his proposals. The 'Trump Trade' that played on the Make America Great Again theme in the wake of his November election victory and January inauguration, and contributed to record highs on Wall Street in February, is hardly discussed now that stocks, the dollar and Treasury bonds have succumbed to worries about his tariff policies. 'Post the election, we heard a lot about Yolo (You Only Live Once), which seemed to promote taking outsize risks in a concentrated investment theme,' Art Hogan, strategist at B. Riley Wealth, said. Yolo, is an acronym used to describe the tendency that was part of the Trump trade to chase high-momentum strategies such as cryptocurrency. 'While the term Yolo was popular for a period of time, it goes against all traditional advice,' Hogan said. Here are a few more acronyms that have gotten play in the investment world in recent weeks: STORY CONTINUES BELOW THIS AD Taco (Trump Always Chickens Out) This one, coined by a Financial Times columnist, has been used as a way to describe Trump's to-ing and fro-ing on tariffs in the wake of his April 2 'Liberation Day' speech. When asked about Taco in a recent press conference , the president lashed out, calling the question 'nasty' 'Where we end up might not be too far from what he promised on the campaign trail. So, does he always chicken out? I wouldn't go as far as to say that,' said Christian DiClementi, fixed income portfolio manager at AllianceBernstein. 'I think that he wants to rebalance the economy without pushing it off a cliff. And we're watching that being executed in real-time. I think some of the ideas are thought out and some of them change on the fly.' Yolo, is an acronym used to describe the tendency that was part of the Trump trade to chase high-momentum strategies such as cryptocurrency. File image/AP Mega (Make Europe Great Again) Mega first coined last year to address European competitiveness, resurfaced this Spring as a way to describe the flurry of investor interest in and flows into European markets. Mega hats, spoofing their Maga counterparts, are easily purchased online It's been revived by investors and traders in light of the outperformance of European stocks in the immediate aftermath of Trump's 'Liberation Day' tariffs bombshell. Maga (Make America Go Away) While the original Trump Trade was also known as the Maga trade, this variation cribbed the president's motto, first appearing in response to Vice President JD Vance's brief and unfruitful visit to , which Trump has expressed interest in annexing. At least one Canadian investor says that quip is making the rounds of trading desks in Toronto and Montreal and sparking 'wishful thinking' about simply boycotting US investments. During his election campaign, one of the many promises were to 'Make America Great Again'. File image/AFP Fafo (F**k Around and Find Out) Although the acronym also came into being well before Trump's inauguration, it is being heard with increasing frequency in trading desk conversations. It is used to capture the financial market's volatility and chaos that Trump's policy-making process has created. Mark Spindel, chief investment officer of Potomac River Capital LLC, described the market as being caught in a 'pinball machine as a result of that policy-making process.' When reached for comment, White House spokesman Kush Desai said in an email 'these asinine acronyms convey how unserious analysts have consistently beclowned themselves by mocking President Trump and his agenda that have already delivered multiple expectation-beating jobs and inflation reports, trillions in investment commitments, a historic UK trade agreement and rising consumer confidence.'
Time of India
4 hours ago
- Time of India
Key climate target of airline decarbonisation 'in peril': IATA
Live Events NEW DELHI: The airline industry's flagship goal of decarbonising by 2050 is now "in peril" due to climate-sceptic policies, including those of US President Donald Trump , the leading airline association IATA warned on emergence of leaders favouring fossil fuels and recent regulatory rollbacks are "obviously a setback... it does imperil success on the 2050 horizon", Marie Owens Thomsen , the International Air Transport Association's senior vice president for sustainability, told reporters."But I don't think it's going to halt or reverse progress. I think it will just slow progress," she said at the IATA annual industry conference in Republican administration is supporting the development of fossil fuels in contrast to his Democratic predecessor Joe Biden, who had massively supported the production of renewable aviation fuels through tax aviation agency members, from the International Civil Aviation Organisation (ICAO), have set the year 2050 as their goal for achieving net-zero carbon emissions for air travel -- an industry often criticised for its outsized role in climate air transportation industry has faced growing pressure to deal with its contribution to the climate responsible for 2.5 percent to three percent of global CO2 emissions, the sector's switch to renewable fuels is proving difficult, even if the aeronautics industry and energy companies have been seeking achieve net-zero emissions, airlines rely on non-fossil sources known as Sustainable Aviation Fuel (SAF).However, SAF biofuels are still three to four times more expensive than petroleum-based jet fuel."Another problem, which is related, is the fact that oil is so cheap," Owens Thomsen said. "I think that also diminishes the sense of urgency that people have."A barrel of Brent North Sea crude, the international benchmark, stands below $65 as a result of Trump's tariffs, his call to "drill baby drill" and especially a decision by OPEC+ to hike crude output represents an immediate boon for airlines, whose fuel costs represent between a quarter and a third of operating is seen as a crucial ingredient in hitting emissions targets. The biofuel produces lower carbon emissions than traditional jet fuel and is made from plant and animal materials such as cooking oil and Union rules require carriers to include two percent of SAF in their fuel mix starting this year, rising to six percent in 2030 before soaring to 70 percent from Thomsen estimated on Sunday that $4.7 trillion in investment is needed to establish SAF sectors capable of meeting the needs of air transport by 2050."It is entirely achievable," she said, adding that the raw materials and technology already exist and simply need to be developed."The money involved is very comparable to the money that was involved in creating the previous new energy markets, notably obviously wind and solar," she money could be found just by stopping subsidies to oil producers, she said."The world is subsidising large oil companies to the height of $1 trillion per year," she said."With that money, if it were redirected in its totality, we could solve our energy transition in less than five years."IATA also indicated on Sunday that it expects global SAF production to double this year compared with 2024 to 2.5 billion litres -- slightly down from its previous projections of 2.7 billion litres."This represents only 0.7 percent of total aviation needs," IATA Director General Willie Walsh said.
