taxes. >> ladies and gentlemen, please welcome co-founder and ceo infosys sd shibulal. >> reporter: infosys but in the technology business, the company is a power house, one of the biggest consulting firms in the world with over $6 billion in revenue last year alone and 145,000 employees in 32 countries. the bull of its business comes from the u.s., re-engineering computer systems of some of the biggest names in corporate america. federal officials say infosys employees have 6,000 b-1 visas, good for ten years. now, jay palmer says if just half of those employees were working here on u.s. soil, that would earn the company more than $150 million a year more than if they paid americans the prevailing wage. infosys declined our repeated requests for an on-camera interview with the company executive or with ceo sd shib laul but the company's chief financial officer has denied the charges on indian television. >> very clear we're not violating any of the rules. we believe we have a strong case. >> reporter: infosys did give us a statement, saying in part, any allegation or assertion that there i

infosys is india's second largest i.t. company and has been a pioneer of outsourcing using highly skilled indian staff on low wages working for western clients but with recession in the west the boots on the other foot infosys is now one of several top indian firms recruiting in the u.s. with over twelve million jobless many in america are willing to work for less pay the u.s. is also providing tax breaks to indian firms keen to woo those offering much needed jobs there is of course reported to be fair share because of the higher number armond in the u.s. to drink and its companies to record rates again is one of the reasons why we had according there there are incentives for companies to set up operations in the u.s. most states. businesses to come while infosys predicts a quarter of its staff will come from outside india in a decade another tech firm ages already has five thousand american workers and plans to hire ten thousand more in the next three years. they're going to be here who are. going to do. a job. far from t

managing director at infosys. we'll take a short break. stocks heading further and further into the red here. the ibex you can see down fresh three year lows. we'll come back with more details. ♪ ♪ i can do anything ♪ i can do anything today ♪ i can go anywhere ♪ i can go anywhere today ♪ la la la la la la la [ male announcer ] dow solutions help millions of people by helping to make gluten free bread that doesn't taste gluten free. together, the elements of science and the human element can solve anything. solutionism. the new optimism. >>> quite a bit of green. china's gdp number disappointed, but other sales if line with expectations. a lot of the gains actually coming on the back of expectations that this could be more easing. don't forget there is also about $60 billion in in government bills maturing at the end of the month. it looks like a lot of investors traders are penciling those bills to actually get injected in to the market, as well. financials, property develope developerses getting a bit of a bump up take. >> european stock

infosys denies the allegations saying they will address the facts in court. >> can grassley, being thehere? >> he is on a judiciary committee which does have oversight over immigration policies. they are going to listen to him. when he wrote his letter a couple of months ago on this, the state department acknowledged that this is a program that needs more oversight because of potential fraud. in 2011 the company in this story, and there are others, applied for 4,700 more of these worker visas on the idea they needed 5,000 people they had skills so specialized no american computer worker could do them? >> did he see your piece and say get john miller on the phone? when i saw the piece about yesterday, i'm curious about how the indian workers are allowed to live here. >> and how they live here. jay palmer, who helped us break this story yesterday, and marty harrington, both said theyer when appalled by the conditions these people came in on specialized worker visas or you're allowed to come for a meeting and not supposed to work. they were stacked three in a motel room, in tiny apartment

. >> reporter: jay palmer is a principal consultant at infosys.sparked a federal investigation into allegations that infosys engaged in a systemic practice of visa fraud, a charge the company denies. what was the first thing to catch your attention? >> i had an employee over from india that had been over several times before, and he came up to me and he was literally in tears. he told me he was over here illegally. he didn't want to be here. he was worried that he would get caught. >> reporter: palmer says he began digging into how and why infosys seemed to be bringing in large numbers of workers from here, its corporate headquarters in bangalore, india, to the u.s. >> that's a good tease. we'll have john's full report tomorrow on "cbs this morning." >>> a wild bear near los angeles is so popular. don't you hate when that happens, a wild bear near los angeles? he's so popular, he's even got his own twitter account! we'll show you how his neighborhood adventure finally came to an end. you're watching "cbs this morning." a big boy. the capital one c

infosys could face fines and penalty. that's it for me.l be back tomorrow with the news moving markets here in asia. see you tomorrow. >>> hollande has edged ahead of sarkozy in the first round of the french presidential election. two men now go head to head in a final round of voting on may the 6th. in the first round, figures are pretty close. hollande got 28% and we saw sarkozy get 27%. what next? stefane, we know holland will are probably pick up the votes from the left. what rts chancare the chances o picking up the votes from the centrist party and the right wing? >> it will be more difficult on the right side. only 60% of the people who choose will vote for sarkozy in the second round. 18% of them would vote for hollande. and 22% claim that they are not going to vote for the second round of the election based on this calculation would not make it the second round, he would be defeated by the socialist leader. that's the reason why sarkozy has to convince the extreme right voters. he wants to shift to the extreme right. we're expecti

was worried that he would get caught. >> reporter: palmer says he began digging into how and why infosysrs of workers from here, its corporate headquarters in india, to the u.s. >> good tease. we'll have the full report tomorrow on "cbs this morning." >>> a wild bear near los angeles is so popular -- don't you hate it when that happened, a wild bear near los angeles? he's so popular he's got his own twitter account. we'll shoal you how his neighborhood adventure came to an end. you're watching "cbs this morning." the capital one cash rewards card gives you a 50% annual bonus. and who doesn't want 50% more cash? ugh, the baby. huh! and then the baby bear said, "i want 50% more cash in my bed!" phhht! 50% more cash is good ri... what's that. ♪ you can spell. [ male announcer ] the capital one cash rewards card. the card for people who want 50% more cash. what's in your wallet? ha ha. ♪ whoa! what is that? it burns! it's singeing me! it's the sun. get of the office more often with chili's $6 lunch break combos, featuring our classic turkey sandwich. chili's lunch break combos. you know who

infosys at a neutral from a buy. after terrible session it is stock is higher.d exploration up to a buy from a hold over at jeffreys. csx down to a hold from a buy. and from a buy to a hold for nrg energy at deutsche bank. auto nation to market perform from under perform at wells fargo. for more go to sots.cnbc.com to check it out. the concern around the rails is impacted by lower coal volume shipmen shipments. they say there is no reason to be concerned giving all the things rails transport. >> there's been a migration over time from trucks to rail. one of the reason buffett got into it years ago making a big bet on the usa. in the dow, up three of four sessions. up 71 yesterday. amazing how quickly sentiment turned from last week. people were wondering about the significant breakdown at least in the s&p falling below 1370. we now have eight points of cushion. >> we have recaptured the 50-day moving average. we are watching. we continue to watch goldman sachs. the conference call is going on. we'll get an update. the stock has turned negative. it paired gains o

infosys -- emphasizes iran's progress. his last speech was all ranked number 11 in terms of scientific progress. this is what he claims, etc., etc.. of course khamenei's viewpoint of the nuclear program is not like rafsanjani but also the leaders of the green movement the act and political reforms but this is not aipac teen's mindset. he is very much compared to these other figures and isolationist is not clear how the iranian public feels about the nuclear program. we hear that there is a sense go a lot of iranian support the civilian aspect of don't know for certain how iranians feel. regime has had some success at selling matter of national rights and should israel, pakistan india etc., the west have access to nuclear technology iranians probably would argue that will khamenei give into pressure? sanctions have undoubtedly heard devalued. prices have gone incredibly high. of the people that support democracy in iran, this is one of the unfortunate iran from weaponizing. there is no fundamentally rethinking iran's positi