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EATONTOWN, N.J. — As artificial intelligence rapidly changes how businesses operate, JBiz has announced the JBiz Leadership AI Operations Summit, a two-day executive training program designed to help companies improve productivity, streamline operations, reduce costs, and increase revenue through practical AI adoption.

The summit will take place July 13–14, 2026, at the Sheraton Eatontown Hotel in New Jersey and is geared toward business owners, corporate leadership, management teams, entrepreneurs, and organizations looking to better equip their workforce for an AI-driven economy.

Organizers say the goal is simple: help businesses understand how to effectively use today’s leading AI platforms and determine which tools are best suited for specific business tasks.

“Learning how to use AI is quickly becoming as important as learning how to use computers, email, and the internet became in previous generations,” said Duvi Honig, Founder of JBiz.

Open Ai all, Companies are encouraged to send multiple employees and leadership team members together to maximize results and help integrate AI throughout their organizations.

The shift underway is significant. For decades, businesses relied on large teams of junior employees and support staff to handle research, spreadsheets, presentations, scheduling, customer communications, reporting, and administrative work.

Today, properly trained employees using AI platforms such as ChatGPT, Claude, Gemini, Microsoft Copilot, Grok, and Perplexity can complete many of those tasks faster and more efficiently. Increasingly, companies view AI as a collection of virtual assistants that help employees draft emails, conduct research, analyze data, summarize meetings, create reports, improve communication, and accelerate workflow across departments.

Recent surveys suggest the business impact is growing quickly.

An Oliver Wyman Forum–New York Stock Exchange CEO survey found that 43% of CEOs plan to place less emphasis on hiring junior staff while increasing demand for experienced employees who know how to use AI effectively.

Research from Stanford University, MIT, and Boston Consulting Group has also found that workers using generative AI complete more tasks, work faster, and often produce higher-quality results than workers who do not use AI tools.

One high-profile example came from Citadel Founder and CEO Ken Griffin, who recently said that modern AI systems are performing work that previously required teams of finance professionals, completing in hours or days tasks that once took weeks or months.

Meanwhile, the McKinsey Global Institute estimates generative AI could create between $2.6 trillion and $4.4 trillion in annual global economic value across customer service, operations, software development, research, marketing, communications, and workflow management.

“We are watching one of the biggest operational shifts in modern business history,” Honig said. “The companies adapting early are gaining major advantages, while many businesses still don’t know where to begin. This summit was created to provide practical training businesses can immediately apply.”

Unlike many AI events focused on theory, organizers say the program is designed as a practical, implementation-focused training experience. Participants will learn how to use multiple AI platforms together and understand the strengths of each system.

Training will cover:

  • ChatGPT — communication, writing, workflow support, strategy, presentations, and operational assistance
  • Claude — long-form analysis, contracts, planning, and document review
  • Gemini — Google Workspace integration, collaboration, productivity, and research
  • Microsoft Copilot — Excel, Word, Outlook, PowerPoint, and enterprise workflows
  • Grok — live information analysis and trend monitoring
  • Perplexity — research, sourcing, and market intelligence
  • Additional leading AI platforms and workflow tools

Participants will receive hands-on instruction on applying AI to:

  • Communication
  • Operations
  • Documents and spreadsheets
  • Research
  • Sales
  • Marketing
  • Reporting and presentations
  • Administration and workflow systems

Summit attendees will leave with a clearer understanding of the AI landscape, practical workflows they can use immediately, and strategies to save time, improve productivity, reduce administrative burdens, and strengthen operational performance.

Organizers estimate businesses effectively implementing AI can save employees between 5 and 15 hours per week, potentially creating between $12,000 and $54,000 in annual operational value per employee, depending on role and implementation.

For a company with 10 employees, that could translate into productivity gains ranging from roughly $120,000 to more than $540,000 annually, although actual results will vary by company, industry, and adoption levels.

The summit will feature full-day training sessions from 10:00 a.m. to 5:00 p.m. on both days and will be led by professionals with hands-on experience using today’s leading AI platforms.

Participants will leave with a deep understanding of all platforms, practical skills and a framework for immediately execution integrating AI into their daily responsibilities and business operations.

Limited Seating Available! For corporate inquiries, team registrations, and group packages, Visit or contact Esther@OJChamber.com or 212-659-5270 x104.

JBizNews Desk — New Jersey

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NEW YORK — America’s wealthiest investors are holding unusually large amounts of cash while quietly shifting billions of dollars into alternative assets, gold, infrastructure, and global opportunities.

According to UBS’s Global Family Office Report 2026, published on May 28, many of the world’s richest families are preparing for a prolonged period of economic and geopolitical uncertainty rather than betting on a smooth continuation of recent market gains.

One of the clearest examples is Warren Buffett.

Before stepping down as chief executive of Berkshire Hathaway at the end of last year, Buffett accumulated a record $381.7 billion in cash and short-term investments, choosing not to aggressively deploy capital despite a strong stock market.

He is far from alone.

A recent Goldman Sachs survey found that wealthy households with at least $1 million in investable assets keep roughly 20% of their net worth in cash or cash-equivalent investments, including Treasury bills and other short-term government securities.

The strategy reflects growing caution.

Many affluent investors believe stock valuations have become stretched after years of gains, while concerns about inflation, interest rates, government debt, and geopolitical instability continue to linger.

Unlike previous years, cash now offers meaningful returns. Higher interest rates allow investors to earn respectable yields while waiting for better opportunities.

Several prominent investors have already taken defensive steps.

Buffett’s cash reserves continued growing even as stock prices climbed, while billionaire investor Peter Thiel reportedly reduced exposure to some of the market’s hottest artificial-intelligence stocks, including Nvidia, despite the company’s strong performance.

The moves have fueled speculation that some wealthy investors believe parts of the AI-driven rally may have become overheated.

Yet UBS says the behavior should not be viewed as panic.

Instead, the report describes a broad repositioning of portfolios.

Approximately 60% of family offices surveyed said they expect to adjust their long-term asset allocation during the next year — the highest level UBS has ever recorded and nearly double the percentage reported just one year earlier.

Maximilian Kunkel, Chief Investment Officer for UBS Global Wealth Management, described the shift as a proactive effort to prepare for emerging opportunities while reducing risk.

The biggest destination for that money is alternative investments.

According to UBS, family offices now allocate approximately 42% of their portfolios to assets outside traditional stocks and bonds. These include:

  • Private equity
  • Private credit
  • Commercial real estate
  • Infrastructure
  • Hedge funds

Many investors favor alternatives because they are less tied to daily stock-market swings and can provide diversification during periods of volatility.

The wealthier the investor, the greater the use of alternatives. Goldman Sachs found that roughly 80% of investors with more than $10 million in assets hold alternative investments.

Two traditional assets are also making a comeback.

Gold allocations are rising as investors seek protection against inflation, geopolitical tensions, and concerns about the U.S. dollar. Average gold holdings remain relatively small but are increasing among family offices making portfolio changes.

Infrastructure investments are also attracting attention. Assets such as data centers, power grids, transportation networks, and utilities are increasingly viewed as stable long-term investments capable of generating steady cash flow.

Artificial intelligence remains the dominant investment theme.

According to UBS, 65% of family offices identified AI as one of their highest-priority investment opportunities, followed by energy and natural resources, as well as automation and robotics.

At the same time, confidence in the U.S. dollar appears to be weakening among many wealthy investors.

Nearly two-thirds of respondents expect the dollar’s dominance as the world’s reserve currency to gradually decline. As a result, some investors are increasing exposure to currencies such as the euro and Swiss franc.

While cryptocurrencies continue to attract headlines, they remain only a small portion of most family-office portfolios.

The potential impact of these shifts is significant.

According to Deloitte, there are now more than 8,000 family offices worldwide managing approximately $3.1 trillion in assets. Even modest allocation changes by these investors can influence global markets.

When asked about their biggest concerns, 64% of family offices cited a major geopolitical conflict as their top risk over the next year. Another 49% pointed to a potential global trade war, while 39% identified inflation as a primary threat.

The message from the world’s wealthiest investors is not that a crash is imminent.

Instead, they appear to be preparing for a future that may be more volatile, more fragmented, and less predictable than the one markets enjoyed in recent years.

For now, the rich are not abandoning risk entirely. They are simply keeping more cash available, spreading investments across a wider range of assets, and positioning themselves for a world they believe may become increasingly uncertain.

Wall Street — JBizNews Desk

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The New York Knicks won their first NBA championship in 53 years Saturday night, June 13, 2026, beating the San Antonio Spurs in five games and handing the city its biggest sports celebration in a generation. The party is barely over, and a much larger one is already underway: the 2026 FIFA World Cup kicked off the same week, with eight matches headed to the New York–New Jersey region. For the local economy, that raises a simple question with a not-so-simple answer — which one brings in more money, and to whom?

On paper, the World Cup dwarfs everything. The NYNJ Host Committee, chaired by Tammy Murphy, projects roughly $3.3 billion in economic impact for the region from the tournament’s local matches, including the final at MetLife Stadium on July 19, in an analysis built with Tourism Economics, an Oxford Economics company. The committee expects more than 1.2 million visitors and over 26,000 supported jobs across the two states.

But that’s the regional number, and it splits across a state line. New Jersey Governor Phil Murphy has estimated the tournament will deliver about $2 billion in economic impact to New Jersey specifically, supporting roughly 14,000 jobs. In other words, of the $3.3 billion regional figure, New Jersey claims well over half for itself — leaving the rest to spill into New York and the broader metro area. That matters, because every World Cup match is played in New Jersey, not New York.

The Knicks number is smaller, but it’s concentrated squarely in the five boroughs. Mayor Zohran Mamdani and the New York City Economic Development Corporation estimated the team’s playoff run generated about $202 million in economic activity from home games played, a figure they said could reach $465 million had every potential Finals home game been staged, at roughly $90 million per home date. Because the Knicks clinched on the road in Game 5, the real total lands below that ceiling.

For the team’s owner, the run paid off directly. Analysts estimate the playoffs added around $140 million in revenue for Madison Square Garden Sports Corp. (NYSE: MSGS), controlled by James Dolan, whose Knicks franchise is now valued near $9.85 billion.

Stack the headline figures side by side and the World Cup wins by a wide margin. But two things complicate that scoreboard.

The first is geography — the catch hiding inside the phrase “New York.” The Knicks money is unambiguously New York City: it happens at Madison Square Garden in the middle of Manhattan. The soccer does not. All eight regional matches, including the final, are played at MetLife Stadium in East Rutherford, New Jersey, temporarily rebranded “New York New Jersey Stadium.”

New Jersey officials have openly expressed concern that while their state hosts the matches, many visitors may spend much of their money across the Hudson River — on Broadway shows, Times Square attractions, Manhattan restaurants, and New York hotels.

So even New Jersey’s own $2 billion estimate could ultimately be affected by where visitors choose to stay, eat, shop, and spend. And the costs are real. New Jersey has already spent more than $16 million in taxpayer funds on stadium-related work, while NJ Transit has committed roughly $35 million toward transportation planning and infrastructure tied to the event.

The second catch is that all these projections come from people with a reason to make them look large. Host committees, elected officials, and economic-development agencies are promoters, not neutral scorekeepers. Economists frequently argue that major-event impact studies overstate benefits because they count spending that might have occurred elsewhere in the region anyway.

The same criticism applies to championship runs.

Many sports economists argue that the largest financial gains from a title run flow to team owners, broadcasters, sponsors, and ticket-resale platforms rather than being distributed broadly throughout a city. In many cases, spending is shifted rather than newly created.

There is also a difference in duration. The Knicks’ impact arrived in a concentrated burst over several playoff weeks. The World Cup stretches across more than a month and generates sustained global television exposure that can influence tourism, hotel demand, business travel, and regional branding long after the tournament ends.

So the honest scorecard is this: the World Cup is the far larger economic event by projection — roughly $3.3 billion regionally, with about $2 billion expected to land in New Jersey — while the Knicks championship run is the cleaner and more direct New York City economic story, with spending concentrated in Manhattan and the five boroughs.

The World Cup’s billions may ultimately prove larger, but exactly how much of that money ends up in New York versus New Jersey remains one of the tournament’s biggest unanswered questions.

Two championships. Two global events. Two very different economic stories.

And in both cases, the cheering may be easier to measure than the money.

JBizNews Desk — New York

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KFC is launching what it calls its “next chapter” globally, rolling out new menu items, redesigned restaurants and refreshed branding as the fast-food giant looks to strengthen its position in the increasingly competitive chicken market.

The Yum Brands-owned chain said Monday that the initiative will eventually touch its more than 34,000 restaurants across over 150 countries. KFC noted that a new restaurant opens somewhere in the world roughly every 3.5 hours.

“As the global appetite for chicken grows, KFC is answering the call,” KFC Global CEO Scott Mezvinsky said in a statement. He added that the company sees an opportunity to “set the standard for modern chicken” in the quick-service restaurant industry.

MAJOR CARL’S JR OPERATOR REPORTEDLY SET TO SHUTTER, SELL DOZENS OF CALIFORNIA LOCATIONS

A key component of the strategy centers on menu innovation. KFC plans to expand its lineup of boneless chicken offerings, including tenders designed for dipping and snacking, while introducing more than 20 new sauces tailored to local tastes. Examples include Chimichurri Ranch and Hot Honey Habanero.

The company is also betting on growing consumer demand for customizable, sauce-focused meals, with new menu items featuring chicken tenders, wings and sandwiches coated in bold flavors.

Beyond food, KFC is expanding its beverage platform, known as “KWENCH by KFC,” which includes boba refreshers, milkshakes, sparkling lemonades and iced coffees. The beverage lineup is moving from a pilot program to permanent menus in Australia and Canada this year.

KFC said the changes are intended to give customers more reasons to visit throughout the day, whether for snacks, drinks or full meals.

The company is also introducing a new generation of restaurant designs aimed at creating more modern dining experiences. The first U.S. example is expected to open in McKinney, Texas, later this summer and will feature an open-concept layout. A larger two-story flagship location is scheduled to debut in Dubai this fall.

The brand refresh extends beyond menus and restaurants. KFC said it is updating its visual identity across packaging, advertising and digital platforms while retaining its signature bucket and Colonel Sanders branding.

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The rollout begins in the United Kingdom and Ireland, with expansion to the United States and Australia expected in the coming weeks. Additional markets will follow through 2026.

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WASHINGTON — In July, the U.S. government will begin depositing $1,000 into investment accounts for millions of American babies under a new program known as Trump Accounts.

The U.S. Treasury Department, which is overseeing the rollout, says accounts officially open on July 4, with registration already underway. Treasury Secretary Scott Bessent has described the initiative as a way to connect ordinary Americans to the financial markets from birth.

But while supporters see the program as a long-term wealth-building tool, a growing number of economists and policy experts question whether it can meaningfully reduce wealth inequality.

Under the program, every U.S. citizen born between 2025 and 2028 qualifies for a one-time $1,000 government deposit, provided a parent or guardian opens the account. The funds are invested in a low-cost stock-market index fund, with annual fees capped at 0.1%, and cannot generally be accessed until the child reaches adulthood.

Families, employers, charities, and others may contribute up to $5,000 annually.

Supporters point to the power of long-term compounding. Government projections estimate that a child who receives only the initial deposit could see the account grow to approximately $15,000 over time.

Critics, however, argue that the larger issue is not the initial deposit but who can afford to keep contributing.

Families able to contribute the maximum $5,000 per year could potentially build accounts worth hundreds of thousands of dollars by adulthood. By contrast, children whose families cannot contribute additional funds may be left with little more than the original government contribution and investment growth.

According to government projections, an account funded at maximum contribution levels could reach approximately $742,000 by age 18, compared with roughly $15,000 for an account receiving only the initial deposit.

That gap has drawn concern from several researchers.

David Radcliffe, policy director at The New School’s Institute on Race, Power, and Political Economy, argues the structure primarily benefits families that already possess financial resources. Connecticut State Treasurer Erick Russell has similarly warned that wealthier households may be positioned to build significantly larger nest eggs than lower-income families.

Another concern involves participation.

Because parents must actively enroll their children, some experts worry that families facing financial hardship or lacking familiarity with investing may be less likely to sign up. The Aspen Institute has noted that automatic enrollment could have increased participation among lower-income households.

Questions have also been raised about whether the program can meaningfully address longstanding racial wealth disparities.

Federal data show substantial differences in median household wealth among demographic groups. Critics note that previous “baby bond” proposals sought to target larger benefits toward lower-income children, while Trump Accounts provide the same initial deposit regardless of family income.

Supporters counter that private-sector participation can significantly expand the program’s impact.

Secretary Bessent has launched a nationwide effort encouraging additional contributions, while several prominent business leaders and corporations have pledged support. Michael and Susan Dell have committed billions toward funding accounts for lower-income children, Ray Dalio has pledged tens of millions of dollars, and companies including JPMorgan Chase and Bank of America have announced matching contributions for eligible employees’ children.

Supporters argue that even modest investments can introduce millions of families to long-term saving and investing, creating opportunities that otherwise might not exist.

Critics acknowledge that the accounts can provide meaningful financial benefits but remain skeptical that a universal $1,000 deposit alone can significantly narrow the wealth gap.

Whether the program ultimately reduces inequality or reinforces existing differences may depend less on the government’s initial contribution and more on who continues contributing after the account is opened.

Washington — JBizNews Desk

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A key step in the origin of many pandemics occurs when an animal-borne virus infects humans and then evolves to spread more efficiently from person to person.

For that reason, scientists and doctors keep closely monitoring viruses that could jump from animals to humans, such as emerging strains of avian flu and bat coronaviruses, as well as those such as hantavirus and Ebola that have already crossed into humans but, for now, spread poorly among people.

In just a few months, the researchers recreated in a test tube the evolutionary path the coronavirus followed during the COVID-19 pandemic – from the original Wuhan strain to the emergence of the highly contagious Omicron variants.

This achievement resulted from a new collaboration among the laboratories of Prof. Gideon Schreiber of the Weizmann Institute of Science, Dr. Jirí Zahradník of the First Faculty of Medicine, Charles University in Prague, and the BIOCEV Center. 

The findings, published in Nature Communications under the title “Stringent selection drives convergence toward omicron-like SARS-CoV-2 receptor-binding motifs,” raise hopes that in the future, scientists could predict how viruses are likely to evolve and under what conditions new waves of infection could emerge.

Weak selection pressure leads to multiple viral variants

The experiment simulating this scenario, conducted at Weizmann, was led by Aviv Shoshany from Schreiber’s team. Under weak selection pressure, by contrast, many viral variants survive, and advantageous mutations become enriched without taking over completely. This scenario was simulated by Ruojin Tian, Dr. Miguel Padilla-Blanco, and Dr. Martin Mokrejš from Zahradník’s group in Czechia.

Zahradník, who previously did his postdoctoral work in Schreiber’s lab, focused on weak selection, while the Weizmann lab staff focused on stronger selection. “We found that if you begin with Omicron, even if it’s weak, it’s stable and remains there. We worked on only a section of protein in the virus, and most of the mutations were in that segment.”

“It took only a few months to make our discovery, but we spent more than two years preparing a journal article for publication, because we had to conduct many tests, including mathematical calculations,” Schreiber recalled. “It was unbelievable. Billions of people were infected, but for all, there was the same result – we found the essence of the evolution of the virus. There aren’t many cases like that.”

In August 2021, Schreiber and colleagues published the results of an in vitro evolution experiment that identified a pair of mutations in the coronavirus’s binding site that make the virus highly contagious by improving its ability to bind to receptors in the human respiratory tract.

About three months later, the Omicron variant was first identified in South Africa; when researchers sequenced it, they found the same pair of mutations. That was the moment Schreiber realized that the in vitro evolution method developed in his lab could potentially predict major turning points in the course of pandemics.

Schreiber, who earned his degrees at the Hebrew University of Jerusalem and did post-doctoral work at Cambridge University, told The Jerusalem Post in an interview that evolution proceeds through mutations and natural selection. To survive and spread, viruses replicate at high speed, which can often lead to genetic errors that accumulate, producing new variants. In the new study, the researchers replicated the gene encoding the coronavirus binding site using a deliberately error-prone mechanism, thereby simulating in “fast forward” the appearance of mutations.

Using genetically engineered baker’s yeast cells, they exposed millions of resulting variants to human receptors and, imitating natural selection, retained only those that still bound successfully. By repeating cycles of mutation and selection over and over, the scientists reconstructed the evolution of the virus-human interaction over the course of a whole pandemic.

At the starting line of this evolutionary race in a test tube were the original Wuhan strain and several variants that emerged during the pandemic – including Alpha, Beta, and Omicron. The researchers studied how their binding sites evolved under two scenarios – strong selection pressure and weak selection pressure. Strong selection pressure is a situation in which only a small number of viruses survive each evolutionary stage, allowing advantageous mutations to rapidly become dominant.

“No matter which viral variant we started with, under strong selection pressure, a variant remarkably similar to Omicron and its sub-variants emerged early on and rapidly took over the entire population,” Schreiber said. “The exact same trajectory was observed during the coronavirus pandemic, which has not undergone another major shift since Omicron appeared and became dominant at the end of 2021.

“Some future pandemics that spill over from animals to humans may follow a similar path – accelerated evolution culminating in the dominance of a viral variant that is highly contagious and specifically adapted to bind to human receptors,” Schreiber predicted.

The evolutionary pathway leading to Omicron dominance was not viewed under weak selection pressure – and computer simulations revealed why, he continued. During the mutation process, several mutations can sometimes arise simultaneously. If one mutation gives a new viral variant a survival advantage and helps it dominate the population, other mutations – those that are neutral or even detrimental – can “hitchhike” alongside it and spread as well. The simulations showed that under strong selection pressure, advantageous mutations become dominant before the hitchhikers get a chance to accumulate. Under weak selection pressure, however, beneficial mutations drag many additional mutations with them, diminishing their own dissemination advantage.

“To survive in their bodies, the virus had repeatedly to fight their residual immune activity and repeatedly infect receptors in the respiratory tract,” Schreiber explained. “Those are precisely the conditions of strong selection pressure, and our study shows they are essential for the emergence of Omicron – further supporting the hypothesis that it originated in immunocompromised people. Interestingly, when we started the selection from Omicron, both strong and weak selection pressures were sufficient to maintain the Omicron sequences, explaining why this variant persists in the general population. This highlights how important it is to properly treat immunosuppressive conditions such as AIDS before the next global pandemic strikes, and to protect immunocompromised individuals from infection and chronic disease.”

He concedes that today, the coronavirus arouses much less interest here and abroad compared to four years ago. “People forgot, because of new crises, but next time, I hope we’ll be better prepared to cope with pandemics. We have very good tools now to understand how they advance.”

“The in vitro evolution method we developed could be applied in the future to other viruses of concern,” he adds. “We will be able to isolate viral proteins and investigate how they are expected to evolve under different scenarios. Our approach makes it possible to identify dangerous variants before they become dominant, helping focus efforts on preventing the conditions that allow them to take over – and preparing for them in advance.”

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In a move to capture the dual market forces of live broadcast television and digital streaming, Fox Corporation on Monday announced it is acquiring Roku, Inc. for $160.00 per share in a deal valued at an enterprise value of $22 billion. 

The combination pairs FOX’s live entertainment, news and sports portfolios — including The Tubi service, the NFL, MLB and FOX News Media — with the top television streaming platform in the U.S. by hours streamed, accelerating the company’s expansion into connected TV advertising.

“This is a defining moment for FOX, and a natural extension of the deliberate and focused strategy we have been executing for nearly a decade,” Fox Corporation Executive Chair and CEO Lachlan Murdoch said. “Today, we take the next step: bringing together the most valuable live content portfolio in video consumption with the preeminent streaming platform through which America watches it.”

WARNER BROS DISCOVERY SHAREHOLDERS APPROVE PARAMOUNT SKYDANCE DEAL

“We are executing this acquisition from a position of financial strength — maintaining our investment grade balance sheet while providing our shareholders with an uninterrupted return of capital program in the form of share buybacks and dividends,” Murdoch continued. “Roku pioneered streaming TV and scaled it into a leading CTV platform. Together, we intend to lead its next chapter.”

The transaction positions the combined company as the third-largest player in U.S. television by share of viewing. Currently, Roku is in over 100 million global streaming households, which includes more than half of all U.S. broadband households.

Unanimously approved by the Boards of Directors of both companies, FOX is buying the company using a mix of cash and its own stock. Once the merger is complete, ownership will be split 73% for current FOX shareholders and 27% for Roku shareholders, based on who held shares prior to the deal.

Roku founder, chair and CEO Anthony Wood will maintain an ongoing role at the combined company and will join the FOX Board of Directors following the transaction’s close in the first half of 2027.

“Over the past two decades, we’ve built Roku into the leading TV streaming platform, reaching more than 100 million households globally and reshaping how people discover and enjoy entertainment. I’m incredibly proud of what our team has built, and the combination with FOX is an extraordinary opportunity to accelerate our vision, scale faster and innovate more aggressively for viewers, partners and advertisers,” Wood said.

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“That’s why our Board of Directors unanimously determined after concluding its strategic review process that this transaction offers a significant premium to Roku shareholders while also providing them with the opportunity to participate in the compelling future upside of the combined company,” Wood added. “I couldn’t be more excited about what we’ll accomplish together.”

The deal remains subject to customary closing conditions, including approvals by FOX and Roku shareholders and U.S. and certain non-U.S. regulatory approvals. 

The transaction is expected to close in the first half of calendar year 2027.

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FORT LAUDERDALE, Fla. — JetBlue is betting heavily on one airport as it works to return to profitability.

Lauderdale has been a star for us,” JetBlue President Marty St. George said this month, describing the airline’s rapidly expanding presence at Fort Lauderdale-Hollywood International Airport.

The strategy includes significantly more flights, new international destinations, premium cabin offerings, and potentially a new airport lounge. For an airline still working through losses and restructuring efforts, Fort Lauderdale has become a centerpiece of its recovery plan.

On June 1, JetBlue raised its revenue outlook for the year, citing stronger-than-expected demand.

Part of the opportunity emerged from a competitor’s collapse.

Spirit Airlines, long the largest carrier at Fort Lauderdale, ceased operations on May 2 after years of financial struggles and mounting debt. While JetBlue had already been growing its presence at the airport, Spirit’s exit created an opening to capture additional gates, routes, and customers.

According to aviation analytics firm Cirium, JetBlue now controls approximately 36% of airport capacity, up from about 24% a year ago, making it the largest airline at Fort Lauderdale.

Between May and June alone, JetBlue increased capacity by roughly 5%, even as several competitors reduced service during Florida’s slower summer travel season.

The growth has been dramatic.

JetBlue is averaging approximately 106 daily departures from Fort Lauderdale this year, compared with roughly 68 flights per day a year earlier.

During peak winter travel periods, including Presidents Day and major school vacation weeks, the airline expects to operate around 150 daily flights, bringing Fort Lauderdale close to the scale of Boston Logan International Airport, one of JetBlue’s largest hubs.

Longer term, the airline has indicated it could eventually exceed 250 daily flights from the airport by 2027.

One of the most visible signs of JetBlue’s ambitions is its expanding lounge strategy.

The carrier entered the airport lounge business only recently, opening its first BlueHouse Lounge at John F. Kennedy International Airport in New York. A second location is planned for Boston in 2026.

Fort Lauderdale could become the third.

St. George said the airline continues evaluating potential locations and believes the growing number of premium travelers makes a lounge a logical addition. Airport officials have also expressed support for the project.

International service is another major focus.

Fort Lauderdale has long served as a gateway to Latin America and the Caribbean, and JetBlue has been expanding aggressively. The airline recently announced new service to Caracas, Venezuela, while adding approximately 20 new routes from the airport over the past year.

The goal is to attract more international travelers and diversify revenue beyond traditional domestic leisure routes.

Premium offerings are increasingly central to that strategy.

JetBlue built its reputation on affordable fares but is now targeting higher-spending travelers through expanded Mint service, a new domestic first-class product known as Mini Mint, and enhanced loyalty and credit-card programs tied to future lounge access.

The airline says Fort Lauderdale has exceeded internal expectations, with revenue growth continuing even as capacity expands.

That growth is especially important because JetBlue remains unprofitable.

The airline reported a $319 million first-quarter loss in 2026, compared with a $208 million loss during the same period a year earlier. Higher fuel costs and operational challenges offset stronger passenger demand.

Revenue rose nearly 5% to $2.24 billion, while revenue per available seat mile increased 6.5%, near the high end of company guidance.

JetBlue ended the quarter with approximately $2.4 billion in cash, along with access to an unused $600 million credit facility.

The company’s broader turnaround initiative, known as JetForward, aims to generate approximately $310 million in additional earnings this year and between $850 million and $950 million by 2027.

Chief Executive Officer Joanna Geraghty has described the strategy as a combination of network optimization, cost reductions, and premium revenue growth.

According to St. George, all of JetBlue’s projected second-quarter growth is coming from Fort Lauderdale, where the airline expects seat revenue to rise between 7% and 11%.

JetBlue is also benefiting from its recently announced Blue Sky partnership with United Airlines, allowing customers to earn and redeem loyalty rewards across both carriers’ networks.

The airline’s largest competitor in South Florida remains American Airlines, which operates a major international hub at nearby Miami International Airport.

There are still risks.

Fuel prices remain volatile, the airline continues to operate at a loss, and passenger traffic at Fort Lauderdale declined slightly last year after years of strong growth.

JetBlue, Broward County, and airport officials are also completing a new five-gate Terminal 5 expansion designed to accommodate future growth.

For now, the airline is making a clear bet: that Fort Lauderdale can become the engine that powers JetBlue’s return to sustainable profitability.

Travel & Aviation — JBizNews Desk

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The US and Iran appear poised to agree on a path forward toward some kind of deal. It is not entirely clear what is being agreed upon or what may emerge in the coming days. Over the past months, there have been many similar claims that a deal is about to be signed. In many cases, the actual points being agreed upon were not a deal, but rather a type of memorandum of understanding (MoU) to reach a deal in the future.

There are many takeaways from the emerging agreement. Former US ambassador to Israel Dan Shapiro posted on X/Twitter that “until the text of the US-Iran deal is signed and released, there is going to be a lot of spin on both sides. But here is my initial take…” He went on to note, “This war was a mistake, and it needs to end.

The president thought that the Iranian regime would collapse quickly, but it did not. In fact, it has been strengthened strategically by its survival against a heavy US-Israeli assault and [by] carrying out some effective counterstrikes. Many countries in the region are now courting Iran and looking to de-escalate and rebuild ties. A sign of which way the wind is blowing.”

What could happen in the next few days and months?

There are many possibilities based on what we know and what we don’t know. This is an opportune time to be reminded of former US Secretary of Defense Don Rumsfeld’s famous “known unknowns” and “unknown knowns.”

Scenario 1: A deal happens and goes well for both sides

One scenario is that an MoU is agreed and signed in Switzerland.

In an optimistic scenario, both Iran and the US believe they have won something, and even Israel is content to wait and see. After the signing in Switzerland, the mediators in Islamabad, Doha, and other places move to work on a deal. Iran ends the blockade of the Strait of Hormuz, and the US ends the blockade of Iran.

There is an agreement to remove enriched uranium from Iran. Iran gets sanctions relief. Everything returns to normal in the Middle East, and there is stabilization. With the war behind everyone, the US can work on a new era in the region and pivot to focus on other issues in Europe and Asia. With the Strait open, the economies of the region improve, and Israel and the Gulf states can work toward closer integration.

Scenario 2: An agreement is not signed in Switzerland

Despite the efforts of Pakistan, Qatar, and others to get to an MoU, Iran and the US are still unable to agree this week and, instead, the deal is postponed once more. In this scenario, the region returns to the low-level conflict it has seen since April. Israel continues to operate against Hezbollah in Lebanon. Iran continues to threaten to retaliate for any Israeli strikes on Beirut. The region continues in low-level turmoil.

The continued closure of the Strait of Hormuz means countries need alternative trade routes, and this means developing more overland trade via Syria. The White House comes to accept that the war won’t end but that it won’t spill over, either. A new status quo is low-level conflict.

Scenario 3: Agreement but no final deal

A third scenario envisions an MoU signed this week, but negotiations between Iran and the US drag on throughout the summer. Iran and the US can’t come to a final agreement. Iran likely prefers this. Tehran assumes that once an interim deal is done, the White House sees the benefit of no more conflict and that US partners in the region – such as Qatar, Saudi Arabia, and Pakistan – urge the US not to re-start the war.

This scenario means that the negotiations drag on, and there is an open-ended question about whether the conflict is actually over. Israel maintains freedom of action in Lebanon, and Jerusalem pushes for more strikes on Iran in the future.

These become new “rounds” of conflict, a new norm in which Israel and Iran engage in short conflicts every few months. The US needs to keep military refuelers in Israel, and Ben-Gurion Airport continues to experience travel chaos.

There is then a push to have the US shift basing to Israel rather than the Gulf. With elections looming for Israel in the fall, more rounds of conflict take place with Iran, Hezbollah, and Hamas.

Scenario 4: Iran suffers an internal coup

Iran’s government agrees to an MoU. However, as Iran moves forward in talks with the US, in the divided Iranian system, weakened by war, and with military commanders cut off from one another, there is a coup in Tehran. It may come from the IRGC and so-called “hardliners” who oppose a deal.

It could also come from the army, seeking to pre-empt a hardliner coup. The low-level chaos in Iran now creates uncertainty. The US now knows it can’t rely on Iran to sign a final accord because it’s not clear who is in charge.

Scenario 5: The US returns to conflict with Iran

Iran may sign an agreement this week, but a final status agreement will be difficult to achieve. In this scenario, the Trump administration decides to use force over the summer or the fall to pressure Iran back to the peace table. This results in the US demanding that it also receive payment for its troubles.

The US assumes a greater role in the region and is pressed into helping the Gulf countries defend themselves. Israel continues strikes on Hezbollah, which causes Iran to continue attacks on Israel. With no final deal, the MoU ends up not being worth much and doesn’t result in a deal. Nevertheless, the opening of the Straits is in everyone’s interests, so they remain open.

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El Al will add Starlink internet services to its aircraft starting in 2027, the company announced in an X/Twitter post on Monday.

According to the statement, the new onboard service “will provide a fast, stable and continuous browsing experience throughout the flight, just like at home.”

“We continue to invest in the most advanced products and services,” the post continued, “with the aim of upgrading your flight experience from the ground to the air.”

The Starlink service is set to be available at the beginning of 2027 and will be offered to customers free of charge, according to Reuters.

El Al currently offers wireless internet service on its 787 and 777 fleets, as well as on some 737 aircraft, according to the company’s website.

The service is offered in three pricing tiers, ranging from messaging/social media only to full video streaming, and can be paid for with a credit card or frequent flyer points.

Current in-flight Starlink availability

Starlink is already available on other airlines around the world, including US carrier United Airlines, which rolled out the service starting with its regional aircraft in March 2025, according to a press release.

Starlink shared an X post on Saturday showing a user’s in-flight Starlink experience onboard a United flight, saying the service offers “high-speed internet from 30,000 feet.”

On June 8, Hungarian low-cost carrier Wizz Air announced on X that the service would be installed on its aircraft in 2027.

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EU foreign ministers have not reached a consensus to approve sanctions against Israel’s far-right National Security Minister Itamar Ben-Gvir, EU’s top diplomat Kaja Kallas said on Monday.

“Many member states have also proposed to sanction Ben-Gvir, but no consensus on that was reached,” she said.

Western governments have expressed outrage after Ben-Gvir posted a video ​of himself taunting activists who had intended to ​bring humanitarian aid to Gaza being pinned to the ground.

France decided to ban Ben-Gvir from French territory in May, while Italian prosecutors have put him under investigation.

This is a developing story.

 

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Yaki Dayan, the former Israeli consul in Los Angeles, voiced deep concern about the recent developments between the US and Qatar, compared with the strained relations with Israel, during a Monday interview with 103FM.

Dayan expressed concern about the agreement expected to be signed between the US and Iran. “There is no alternative from Israel’s side, and on the Democratic [Party] side, there are no giant friends waiting at the door to embrace you,” he explained.

He also added: “Not only that, we hear Trump speaking about Qatar in terms that an American president previously used only about Israel. Washington’s favorite son is Qatar. We are seeing the emerging axis, Saudi Arabia, Qatar, Pakistan, and Turkey, which is also taking shape as a result of this war. The situation in Washington right now is a very serious problem; the question is how it will be translated into action.”

New Middle East axis?

Dayan also addressed the Qatar issue, which has caused growing concern, even more so recently: “Will there be hard moves on the ground? As long as it is talks between the prime minister and Trump, then that is fine, especially when Netanyahu insists that there be no link between Lebanon and Iran. That is what needs to be done; insist on that point. But there is no doubt it does not sound good.”

“It does not sound good that the American president keeps coming back and saying, ‘A tough man,’ ‘tough talks,’ ‘serious mistakes,’ that is how he speaks about Israel, and then we hear him speaking about Qatar and saying, ‘What a courageous country,’ and we see Saudi Arabia aligning with Pakistan and Turkey. Maybe we are seeing a new Middle East, but it is not the Middle East we wanted to see after the war with Iran,” he warned.

Better agreement with Iran, still not a solution to nuclear bomb 

When asked about comparisons between the current agreement and the one signed in 2015, he replied: “We know how to compare it in the sense that there apparently are no missiles and no proxies. That was not in the 2015 agreement either.”

“In 2015, there really was a nuclear agreement. Here, there is still no nuclear agreement. There is only an agreement to reopen the Strait of Hormuz. They will talk for 60 days about the nuclear issue. If you go to places like Fox, they say Trump will not approve enrichment, which is what Obama did and allowed enrichment to a low level, all kinds of things like that. In the end, one must remember that there is no nuclear agreement right now,” he added.

He also explained that the agreement calls for reopening the Strait of Hormuz in exchange for lifting the blockade, something that Dayan described as “the strongest tool the Americans had,” while adding that the monetary side of the agreement will be key for its implementation.

“There will be money, or there will not be money. We are hearing absurd things, $300 billion to strengthen the Iranian economy. Lindsey Graham aptly described it as something like the Marshall Plan after World War II, only the Nazis remained in power. There are no missiles, there are no proxies, but the regime remains in place,” he said.

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The vast majority of the IDF and the Mossad oppose the current Iran nuclear deal as insufficient in light of the power dynamics between the parties, the “blood and treasure” invested, and the threats confronting Israel, the Jerusalem Post has learned.

While that view is not unanimous and top Israeli officials understand the need to defer to Israel’s political echelon and to the Trump administration on certain matters, it is nearly unanimous, and officials are making their views heard in private forums.

While the Trump administration has been almost entirely focused on opening the Strait of Hormuz and the nuclear issue, the Post understands that IDF and Mossad officials had hoped for progress on the ballistic missiles and proxy threats, which they are stuck dealing with on a day-to-day and year-to-year basis.

These issues have been left out of the deal.

Further, many Mossad officials and even some IDF officials believed it was important to keep Iran under sanctions until the Islamic regime changed its tune in a broader way to stop threatening Israel, or even until it was toppled.

Officials betting on sanctions pressure

Some Mossad officials, though fewer IDF officials, even believed that it was likely that the Islamic regime would fall within the year if financial sanctions pressure remained, given that the country lost over $300 billion from being bombed and has been losing huge additional sums daily since the US counter-blockaded Iran at Hormuz, the Post has learned.

These officials believed, the Post understands, that even if Iran held out against financial sanctions from 2018 to 2026, the combined new pressure of the damages to the regime from the 2026 war, along with the Hormuz blockade, would have finally pushed Iranians enough over the threshold to be willing and able to topple the regime.

In light of the billions of dollars expected to stream to the regime once the new deal is signed, many in the IDF and the Mossad now fear that any prospect of regime change could be delayed far past a year from now, missing a unique opportunity to make Israel and the world safer for generations.

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Recent Covid vaccination appears to have broad cardioprotective effects, according to a new study, which found reduced risk of events like heart attacks and stroke, hospitalization, and death in people who had received the vaccine. 

The study, published in JAMA Internal Medicine on Monday along with several other Covid-related papers, followed more than one million veterans who received flu vaccinations at Veterans Affairs health care facilities in 2024; about a third of them also received a Covid vaccine. 

Read the rest…

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Amid ongoing concern about clinical trial transparency, a new analysis found that results for less than half of the studies registered in a key European database were reported within the required time frame and complete results were fully reported for only 42%.

While the quality of the registration data was high overall — more than 99% of expected data was found in the 234 clinical trials for which results were supposed to have been disclosed — the researchers contended that overall compliance with legal reporting requirements was weak and regulatory oversight is lacking.

European Union and member state regulators “have so far not delivered the promised ‘high levels of transparency never seen before for clinical trials,’” the authors wrote in their analysis. It was recently posted on the medRxiv preprint server, which displays unpublished research that has not yet been peer-reviewed.

Continue to STAT+ to read the full story…

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Strategy Inc. (NASDAQ:MSTR) bought 1,587 Bitcoin (CRYPTO: BTC) for $100 million last week, surging 7% in early Monday trading.

Strategy Funded Both Bitcoin And USD Reserve Through Stock Sales Alone

The purchase ran from June 8 to June 14 at an average price of $63,024 per coin, bringing total holdings to 846,842 BTC worth roughly $56 billion. 

Over the same week, Strategy raised $209 million by selling 1.73 million MSTR shares through its at-the-market program, using the proceeds to fund both the Bitcoin buy and a $100 million increase to its USD Reserve, now standing at $1.1 billion.

Notably, Strategy funded accumulation and dividend obligations entirely through equity issuance without touching its Bitcoin stack …

Full story available on Benzinga.com

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The price of a new vehicle has finally stopped climbing — at least temporarily.

According to Kelley Blue Book, a Cox Automotive company, the average new-vehicle transaction price in the United States was $49,220 in May, down 0.5% from April’s $49,456 and up just 1.2% from a year ago.

While the decline is modest, it represents the smallest annual increase of 2026 and offers evidence that the rapid vehicle-price escalation that defined recent years may finally be slowing.

The relief, however, remains limited.

For millions of Americans, a vehicle priced near $50,000 remains financially out of reach.

The current affordability challenge traces back to the supply shortages that disrupted the automotive industry during and after the pandemic. Inventory shortages pushed prices to record levels, and although supply chains have largely recovered, prices have remained elevated.

Ownership costs have also continued to rise.

Insurance premiums, maintenance expenses, repair costs, and financing rates have all increased significantly over the past several years. Cox Automotive analysts note that these combined costs have created affordability challenges for many middle-income and lower-income households.

The used-car market shows a similar pattern.

The Manheim Used Vehicle Value Index rose 0.3% in May and remains approximately 3.1% higher than a year ago. Because wholesale pricing typically influences retail prices several weeks later, analysts expect used-car prices to remain firm throughout the summer.

Government data tells a similar story.

The latest Consumer Price Index report showed new-vehicle prices falling 0.3% in May, while used-vehicle prices increased 0.1%. The changes suggest stabilization rather than a significant decline.

Affordability remains the industry’s biggest challenge.

Cox Automotive projects 15.8 million new-vehicle sales in 2026, a decline of approximately 2.4% from 2025, citing affordability concerns as the primary reason.

Many consumers accelerated purchases earlier in the year to avoid potential tariff-related price increases, leaving fewer buyers willing to spend near-record prices today.

One important detail often gets overlooked.

The industry average is heavily influenced by high-priced pickup trucks and luxury vehicles. Removing many of those premium vehicles from the calculation produces an average transaction price closer to $39,000, creating a substantially different affordability picture.

Compact cars and smaller crossovers continue to represent the most accessible segments of the market.

Electric vehicles are also becoming more competitive.

Tesla reduced average pricing approximately 1% from April and 3.4% from a year ago, helping narrow the gap between EVs and traditional gasoline-powered vehicles.

Because Tesla represents a significant share of the U.S. EV market, its pricing decisions influence industry-wide averages.

Trade policy also remains a factor.

Many of the lowest-priced vehicles sold in the United States are assembled outside the country and therefore remain exposed to tariffs and other import-related costs. That reality limits how much relief consumers may see at the lower end of the market.

For buyers, the takeaway is straightforward.

Vehicle prices are no longer rising at the pace seen during the pandemic years, but they are not falling meaningfully either.

Combined with elevated financing costs, higher insurance premiums, and increased ownership expenses, affordability remains one of the biggest challenges facing American households.

The market may be cooling.

The cost of owning a car is not.

JBizNews Desk — Automotive

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NEW YORK — Elon Musk became the world’s first trillionaire on Friday, when his rocket company SpaceX completed the largest stock-market debut in history, listing on the Nasdaq at $135 a share and raising $75 billion at a value of about $1.77 trillion. The milestone crowned a man who now controls a tangle of companies spanning rockets, electric cars, artificial intelligence, social media, brain implants and underground tunnels. Here is a guide to the Musk empire — how the pieces fit together, and how high his fortune could still climb.

At the center sits SpaceX, founded in 2002 and now far more than a rocket maker. It launches more rockets than most countries, runs the Starlink satellite-internet network — which reached 10.3 million subscribers early this year, double a year earlier — and is building toward sending people to Mars. The company that just went public is also bigger and stranger than the old SpaceX: over the past year Musk folded two of his other businesses into it. SpaceX has even asked regulators for permission to launch a “space cloud” of up to a million satellites to run AI computing in orbit, roughly a hundred times the size of Starlink today.

That makes the newly public SpaceX a three-in-one conglomerate. Musk’s AI company xAI, maker of the Grok chatbot, was absorbed into SpaceX in February. xAI had itself swallowed X, the social-media platform formerly known as Twitter, in March 2025. So a single company now owns rockets, satellites, a leading AI lab and one of the world’s largest social networks. Musk holds roughly 40% of it — a stake worth several hundred billion dollars on its own.

Then there is Tesla, the electric-car maker Musk has led for nearly two decades and long the source of much of his wealth. Worth around $1.2 trillion, Tesla is racing beyond cars into humanoid robots — its Optimus machine — and self-driving software, which it is shifting from a one-time purchase to a monthly subscription. Musk owns roughly 10% of the company, plus a set of stock options restored by Delaware’s highest court in December. Looming over all of it is a new pay package, approved by shareholders in November, that could hand him up to nearly $1 trillion in additional Tesla shares if the company hits a series of aggressive targets.

Further out on the frontier is Neuralink, Musk’s brain-implant company. Founded in 2016, it builds a coin-sized device, the N1, that lets paralyzed patients control computers with their thoughts, and it is testing a separate implant called Blindsight meant to restore vision. In its most recent funding round, Neuralink was valued at about $9 billion — a rounding error next to SpaceX and Tesla, but with outsized potential. The company plans to move from a handful of test patients to high-volume production this year, using a surgical robot to automate the implant procedure. If brain-computer interfaces become mainstream medicine, that $9 billion figure could multiply many times over, turning a science-fiction bet into a major business.

The empire’s odds and ends are still substantial. The Boring Company digs traffic tunnels and is worth billions on its own. Musk made his first fortune at PayPal in the early 2000s, and last year he served as a senior adviser to the President before stepping away. Several of his companies feed one another: Tesla has invested $2 billion in xAI and sold it hundreds of millions of dollars of battery packs, blurring the lines between his businesses.

Where could it all lead? Musk has already become the first person to pass $500 billion, $600 billion, $700 billion and $800 billion in net worth, all since late 2025, and now the first to cross a trillion. Almost none of that is cash. As he put it earlier this year, his fortune is “almost entirely due to my ownership stakes in Tesla and SpaceX.” That is exactly why it can keep climbing. If Tesla hits the milestones in its giant pay package, if SpaceX keeps rising from its $1.77 trillion debut, and if xAI and Neuralink grow into their promise, analysts and prediction markets see a path toward $2 trillion and beyond. The same concentration is also his biggest risk: a stumble at Tesla or a sell-off in SpaceX could erase hundreds of billions just as fast.

For now, Musk sits atop a collection of companies unlike anything one person has controlled before — touching how people drive, talk, connect to the internet, and perhaps one day think. The trillion-dollar question is whether so many world-changing bets, all tied to one man, can keep paying off at once.

JBizNews Desk
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Stocks climbed and oil prices fell sharply Monday morning as Wall Street welcomed the weekend agreement to end the war between the United States and Iran and reopen the Strait of Hormuz. Speaking on CNBC, Vice President JD Vance said the administration expects the vital waterway to reopen “in a toll-free way for the long term,” with technical details still to be finalized. The agreement, which President Donald Trump declared “complete” in a Sunday evening social media post, sparked a broad market rally as investors moved quickly to remove the war premium that had pushed energy prices higher for months.

Shortly after the opening bell, the Dow Jones Industrial Average rose about 600 points, or 1.2%. The S&P 500 gained 1.5% to around 7,546, while the tech-heavy Nasdaq Composite led major indexes with a jump of roughly 2.3%. Smaller companies also participated in the rally, with the Russell 2000 moving higher. Treasury bonds gained, sending yields lower, while the U.S. dollar weakened against most major currencies.

The market reaction reflects expectations that lower oil prices could ease inflation pressures and reduce economic uncertainty. Energy costs became one of the most visible consequences of the conflict, contributing to a rise in consumer prices and increasing pressure on businesses and households alike.

The agreement also launches what promises to be a busy week for investors. The Federal Reserve begins its first policy meeting under new Chair Kevin Warsh on Tuesday, with a decision expected Wednesday. Most economists anticipate the central bank will leave interest rates unchanged in the 3.50% to 3.75% range, but markets will focus on any signals regarding inflation and future rate cuts.

Several key economic reports are also due this week, including housing and retail sales data. U.S. markets will be closed Friday in observance of the Juneteenth holiday. Meanwhile, Pakistan Prime Minister Shehbaz Sharif said an official signing ceremony for the Iran agreement is expected to take place Friday in Switzerland.

SpaceX Remains Center Stage

Among individual stocks, SpaceX remained one of the market’s biggest stories. Shares climbed roughly 6% Monday after surging 19% during Friday’s debut. The company’s public offering valued the aerospace giant at more than $2 trillion, making it one of the most valuable companies in the world.

Over the weekend, CEO Elon Musk posted on X that SpaceX could generate more than $1 trillion in annual revenue by 2030, adding to investor enthusiasm.

Wall Street remains divided on the stock’s valuation. Wolfe Research initiated coverage with a $175 price target, while CFRA issued a Sell rating with a $115 target. Morningstar estimated the company’s value at approximately $780 billion, arguing the stock is significantly overvalued and expressing concerns about Musk’s merger of SpaceX with artificial intelligence startup xAI.

The broader space sector also benefited from the excitement. Rocket Lab rose about 4% after KeyBanc Capital Markets upgraded the company to Overweight with a $135 price target. KeyBanc also upgraded Firefly Aerospace to Overweight and assigned a $50 target.

Energy Stocks Fall as Oil Retreats

Energy companies were among the market’s weakest performers as crude prices dropped.

APA Corp. and Devon Energy each fell more than 3.5%, while Marathon Petroleum and EOG Resources lost roughly 3%. Oil giants Chevron and Exxon Mobil declined more than 2.5%.

The decline reflected the sharp drop in crude prices after the reopening of the Strait of Hormuz reduced fears of supply disruptions.

At the same time, lower fuel prices boosted sectors that depend heavily on transportation costs. Airline and cruise company shares moved higher as investors anticipated relief from elevated jet fuel and marine fuel expenses.

Other Market Movers

Traws Pharma dropped approximately 17% after British regulators delayed a mid-stage clinical trial, disappointing investors who had hoped for faster progress.

Meanwhile, Madison Square Garden Sports gained ground following the New York Knicks’ first NBA championship since 1973, as enthusiasm surrounding the franchise boosted investor sentiment.

In commodities trading, West Texas Intermediate crude oil fell about 5% to near $80 per barrel, while international benchmark Brent crude dropped nearly 5%. Both remain well below the levels above $100 per barrel reached during the height of the conflict.

Bitcoin climbed above $66,000, reflecting renewed investor appetite for risk assets.

Despite the optimism, traders note that the agreement has not yet been formally signed. Weekend exchanges of fire between Israel and Hezbollah highlighted how fragile the ceasefire remains, and President Trump has warned all parties against actions that could derail the process.

For now, however, financial markets are sending a clear message. With oil flowing again and fears of a broader regional conflict easing, investors are betting that the worst of the crisis is over — and that Friday’s planned signing ceremony in Switzerland will confirm it.

Wall Street – JBizNews Desk
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Béla Guttmann may be the most consequential soccer coach you’ve never heard of. But if it weren’t for Guttmann, you may never have heard of Pelé.

And Brazil may never have become the greatest soccer-playing country on Earth.

That’s because Guttmann changed the shape of modern Brazilian soccer – and changed the sport forever – when he imported the revolutionary 4-2-4 system from Hungary to Sao Paulo in 1957. A year later, Brazil won the first of five World Cups, and the joga bonito was born.

But what Guttmann brought to Brazil isn’t nearly as interesting as how he got it there. That’s just one of the fascinating stories in “The Beautiful Game… The Untold Story,” the exhibit that will open the Holocaust Museum LA on Sunday at the Goldrich Cultural Center, a $70-million expansion that will double the size of the Pan Pacific Park museum’s campus to 70,000 square feet.

The exhibit was unveiled during a private reception on Saturday, followed by a free preview day open to the public from 10 a.m. to 5 p.m. The grand public opening will take place in August.

Exhibit to launch alongside World Cup

The show’s launch coincides with eight local World Cup matches, which kicked off with the United States’ 4-1 win over Paraguay on Friday at SoFi Stadium, and it shines a light on the important but largely overlooked relationship between Jewish life and the global game, as well as how Jewish innovators like Guttmann shaped the modern rhythm, style, and culture of the sport.

“It was in the same intellectual level as jazz, as art and everything modern and progressive,” journalist Allon Sander, who helped curate the exhibit, said of Jewish participation in European soccer in the years before World War II.

“The origin of the game and how it intersects with Jews and the Holocaust and the impact that these Jewish footballers and coaches had to shape the game and help popularize the sport is so fascinating,” added Beth Kean, the museum’s CEO. “And it’s an unknown history.”

Much of that story can be told through Guttmann, who was born in Budapest in the final year of the 19th century and developed into one of the sport’s first Jewish stars, representing Hungary in the 1924 Olympics and playing for nine teams in two countries before retiring to become a coach.

But none of that success mattered when the Hungarian government began introducing anti-Jewish laws in 1938, costing Guttmann his job and nearly his life when he was sent to a Nazi forced-labor camp, where he was tortured. Just days before he believed he would be shipped to Auschwitz, which meant certain death, he escaped alongside Erno Erbstein, another Jewish coach.

Erbstein revolutionized soccer in Italy before dying in 1949, along with the entire Torino team, when their plane crashed into a hilltop outside Turin. Four years ago, he was inducted into the Italian soccer hall of fame. Guttmann, meanwhile, who lost much of his family in the Nazi death camps, would go on to coach for 42 years in 14 countries, winning championships in six of them, yet only staying in a single place for more than two years just once.

“He’s running away from his demons,” said Ronen Dorfan, a journalist and sports historian based in Budapest whose research was instrumental in putting the exhibit together. “His father was murdered, his sister was murdered. You never know how you survived in Budapest during the war, so he had guilt feelings.”

The exhibit was designed in three sections: the first devoted to the years before World War II, the second is about the Holocaust, and the third is the postwar years. And while it details Jewish participation in, and influence on, global soccer, it also challenges the cliché that Jews were intellectuals, artists, and laborers but not athletes.

“We are always trying to challenge stereotypes. Stereotypes that we might have about ourselves and even stereotypes that we believe about others,” said Jordanna Gessler, the museum’s vice president of education and exhibits, who helped curate the show. “It’s crucial to help people find their place and their voice and really see the unity, the similarities between people.

“This is a story that was lost in time, and we’re really bringing it out,” Gessler added. “To really have this conversation and encourage people to explore stories that they might not know.”

One thing people might not know is that in the 1920s and ’30s, Europe’s best teams weren’t in England, Germany or France, but in Austria and Hungary, where they were led by Jewish players and coaches such as Hugo Meisl, Jozsef Braun, Arpad Weisz, Marton Bukovi, Gusztav Sebes, and Gyula Mandi. Weisz and Braun were both killed by the Nazis.

The surge of antisemitism and fascism in Germany, Italy, and Eastern Europe helped spread the influence of those revolutionary players and coaches around the world.

“With the rise of the Reich and the Holocaust, the coaches ran away,” Dorfan said. “And they ran to every corner of the world, to Brazil, to Argentina, to Portugal [and] provided coaches to Real Madrid, to Barcelona, to Benfica, to Flamengo.

“There isn’t one of these clubs that doesn’t owe its tactical development in the ’40s and ’50s to the Jewish coaches, which came primarily from Hungary.”

The primary tactical development was the shift from the popular but rigid 2-3-5 formation, which required immense physical endurance and tactical discipline, to the fluid 4-2-4, which spread the wingers to the touch line and allowed for improvisation and creativity on the attacking end, a formation pioneered in Budapest in the 1920s.

Guttman brought the 4-2-4 spread formation to the New World

“They developed a more refined game of passing the ball, keeping it on the carpet rather than the English kick and run, and really put thought into tactical thinking,” Dorfan said.

Guttmann, who played or coached for more than two dozen teams in his career – including one in Romania that paid him in vegetables during the postwar period – brought the Hungarian approach to Brazil in 1957, when he coached São Paulo to a championship. After Vicente Feola, the manager Guttmann replaced at Sao Paulo, took over the national team a year later, he brought the formation with him, popularizing many of the tactics still used in modern soccer, such as fluid defensive wingers, overlapping full backs, the use of a withdrawn striker, and an attacking midfield.

“He is the whole exhibition in one man,” Dorfan said of Guttmann.

“Obviously if we wouldn’t have had the Holocaust, those [coaches] wouldn’t be kept out of Europe, Europe would be much stronger, much more developed. [And] then the development of Brazil or the success of Brazil would be coming much later,” Sander said.

Dorfan spent the better part of two years tracking down many of the more than 100 trophies, uniforms, photos, and trinkets that make up “The Beautiful Game” exhibit, a search that required determination, perseverance, and more than a little luck. Many of the items, because of their ties to Jewish athletes and teams, were hidden during the war and presumed lost. Others resurfaced only through detective work that sent Dorfan following leads that spanned decades and crossed more than a dozen borders.

That also costs money. So Alan Rothenberg, the man who, as president of the US Soccer Federation, first brought the World Cup to Los Angeles 32 years ago, stepped up to lead an effort that raised more than $1 million to fund the exhibit.

“The story really needs to be told, particularly with what’s going on right now with respect to antisemitism,” Rothenberg said. “It’s really important for people to realize what can happen. And soccer is a great vehicle to draw them in. The one main thing in the museum is bringing schoolkids in.”

The Nazis and their collaborators failed in their attempt to erase the history of Jewish soccer pioneers; in fact, they inadvertently popularized both the men and women and their ideas. But the sport also helped other Jews survive a dark period, and Kean said that may be the most beautiful and uplifting part of “The Beautiful Game.”

“The main reason we decided to do this exhibition in the first place is because for years so many survivors, when they talk about their life before the war, so many of them talk about soccer. So many of them were passionate and fond of the sport,” she said.

“We knew the exhibit opening was going to coincide with the World Cup. LA is going to be on the world stage. This is a great opportunity for the museum to get these stories out.”

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Prime Minister Benjamin Netanyahu may have to swallow the bitter pill of the United States’s agreement with Iran in order to say “I told you so” later on, the prime minister’s former communications adviser, Aviv Bushinsky, said in an interview with 103FM on Monday.

Bushinsky explained that despite the current disagreements between Netanyahu and US President Donald Trump that are visible and out in the open, Netanyahu would not easily give up Trump’s support:

“On the one hand, Netanyahu remembers and bears grudges, but on the other hand, he is very practical,” Bushinsky said. “One of his bitter rivals in Israeli politics, the man who also defeated him in an election, Ehud Barak, who said harsh things about Netanyahu, later served alongside him. He was his defense minister, and they were very close.”

“Netanyahu is much more instrumental in these matters. For example, yesterday the president rushed to congratulate Trump. Netanyahu, despite all the anger and bitterness, also congratulated Trump.”

“I think that, despite all the harsh words and the well-known ‘Trumpism,’ Netanyahu is very instrumental. He needs Trump, and despite these words, I still think there is a strong partnership there,” Bushinsky said.

He later said that the many interests within Trump’s administration, including the “evangelicals and many members of the Republican Party,” would prevent the alliance between Netanyahu and Trump from falling apart.

According to Bushinsky, the question now is whether Trump will provide Netanyahu with something.

“There are elections in another 100 days. Let us assume that nothing happens for another 60 days. So what, will we go to war three months before the elections?” Bushinsky asked. “Maybe that is Netanyahu’s dream, but Trump is somewhere else. He sees the stock markets rising, he sees the price of a barrel of oil falling, why does he need this again?”

Changing dynamics of Trump admin.

Bushinsky also drew attention to the changing dynamics within the US administration under Trump.

“At the beginning, Witkoff was supposed to be the negotiator; he disappeared, and suddenly, the prime minister of Pakistan is conducting the entire event. This has implications within the US administration,” explained Bushinsky.

“JD Vance is more dominant, and he said that Israel would not like this agreement. Beyond the personal issue, I think Netanyahu made something of a mistake in his gamble. Do you remember Paul the Octopus from the World Cup? Maybe he should have asked him.”

Bushinsky also criticized Netanyahu’s handling of the war with Iran and the ceasefire negotiations, noting that it is “not a matter of him putting all his chips on Trump and Trump suddenly turning around: Netanyahu should have seen that the agreement was heading in this direction and either embraced Trump and said it was a tremendous agreement, or said it could be marketed, especially regarding nuclear weapons, which is the heart of the matter.”

“He did not go in that direction. He tried, in a creative way, perhaps even to blow up the agreement, with the bombing in Dahiyeh yesterday, in the hope that Iran would respond, and then there would be an escalation. It was the wrong gamble, and now Netanyahu himself has been left bitter.”

Bushinsky further analyzed how this strategic loss could affect Netanyahu ahead of the upcoming elections.

“I have this obsession with looking at past speeches. Netanyahu’s ‘sourpusses speech’ was in 2017. It is very interesting. Netanyahu talks about the ‘industry of gloom’ and says that everyone is upset by the results. What does he say there in that same speech? ‘Well done to Trump for withdrawing from the nuclear agreement.’ I think today’s bitter Netanyahu misses that Netanyahu of 2017,” said Bushinsky.

No news regarding Lebanon

He argued that Netanyahu is currently in an uncomfortable political position, having been “humiliated” with the announcement of the deal, adding that there is no news regarding the situation in Lebanon. 

“Will the IDF begin withdrawing from Lebanon? What achievements do we have against Hezbollah?” he asked. “At the moment, the situation is not good. In this position, Netanyahu does need Trump so that perhaps he can provide him with something on another front.”

“Less realistic is the idea that this whole agreement will collapse, and then Netanyahu will come out looking great,” Bushinsky noted. “He will say, ‘I told you so,’ and that would be right before an election.”

“In my assessment, if [Netanyahu] sees that he is trailing in the polls and that the opposition has a chance of securing a majority, I think he will retire. I think the thing that would embarrass Netanyahu most would be losing to his former aide, Naftali Bennett, or to some pathetic figure like that.”

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The Knesset’s House Committee voted in favor on Monday of granting Likud MK Tally Gotliv immunity after she was indicted for disclosing and publishing classified confidential information in violation of the Shin Bet (Israel Security Agency) law.

Eleven lawmakers voted in favor, while three voted against after three days of discussions on the matter that spanned from the early morning into the afternoon.

Attorney-General Gali Baharav-Miara, who filed the indictment, had attended two of the lengthy debates last week. She did not join the Monday panel, sending representatives from her office instead to present its stance. The Knesset plenum is still required to hold a vote on Gotliv’s immunity to finalize the decision.

Baharav-Miara filed the indictment against Gotliv in May for publishing the identity of the partner of protest leader Shikma Bressler, who, according to the indictment, was a Shin Bet employee. 

Under the Knesset Members’ Immunity Law, Gotliv was able to request that the Knesset grant her immunity from criminal prosecution before the case proceeded to court. The attorney-general has argued that Gotliv’s actions do not allow her to qualify for parliamentary immunity.

Gotliv said she revealed classified information knowingly

Last week, Baharav-Miara told the panel that Gotliv created a severe security risk by exposing the personal details of a Shin Bet agent during wartime.

Baharav-Miara presented the committee members with a top-secret document containing a professional opinion issued by the Shin Bet.

MKs who were shown the ultra-classified Shin Bet opinion said it stated that Gotliv endangered the life of an agent, as well as his children and family, according to a Channel 13 report.

The main part of the classified opinion detailed real examples of Shin Bet employees whose names were exposed, putting their lives at real and immediate risk, the report added.

Goltiv’s argument to the panel centered around the claim that sharing the identity was warranted, and she has not denied doing so. 

She told the panel that she did the act knowingly, arguing that it was justified and that she should receive immunity as an MK. Gotliv also focused for multiple hours on renewing claims that treason had taken place during the October 7 attacks and presented various theories on the matter.

Her remarks involved a lengthy personal attack against Baharav-Miara. She also screened a video last week to the panel with clips that she presented as “evidence of betrayal” during the October 7 Hamas attacks in 2023. She made accusations of treason that she claimed took place during the attacks, presenting various theories to the panel and sparking outrage from opposition MKs.

The charge listed in the indictment against Gotliv is revealing and publishing confidential information under the Shin Bet law.

“Why are you indicting me? Because you do not know what to do with me. I acted under the authority of my immunity. I exposed [anti-judicial reform activist Shikma] Bressler’s partner,” Gotliv told last week’s panel.

Opposition coordinator Yesh Atid MK Merav Ben-Ari told the panel that “in all the hours Gotliv spoke, she did not once address the offense she is here for today.

“Not only did she take no responsibility, but she amplified the offense she committed. She provided no testimony or shred of evidence to support her claims,” she added.

Opposition lawmakers repeatedly spoke against committee chairperson Ofir Katz’s (Likud) conduct during the debates and penned a letter to Knesset Speaker Amir Ohana (Likud) about it. They objected to the fact that he continuously kicked out MKs for interrupting Gotliv, while he allowed Gotliv to interrupt the A-G as she presented her stance to the panel.

Lawmakers were not permitted to make interruptions, or they would have been removed from the panel, and the rules stipulated that only MKs who participated in all meetings on the matter would be eligible to vote. Attendance for at least half the duration of a meeting would be considered participation. As a result, some opposition lawmakers were unable to partake in the deciding vote. 

The first debate also took place last week on Monday, despite the renewed conflict with Iran that had begun the evening before and continued throughout the day. This also led to sharp criticism from lawmakers.

Attorney General Baharav-Miara requested that MK Gotliv’s immunity be denied

Ahead of the first Knesset debate on Monday, Baharav-Miara wrote a letter to members of the panel, requesting that Gotliv’s immunity be denied.

She explained that the indictment against Gotliv was filed on the basis of “professional, objective, and good-faith discretion,” and that none of the grounds for parliamentary immunity applied in her case.

The indictment against Gotliv was filed in May, based on her publishing on January 24, 2024, a screenshot from the website Edna Karnaval that included the full name of Bressler’s partner and claims tying him to alleged contacts with then-Hamas leader Yahya Sinwar before the October 7 massacre.

Karnaval is described by the indictment as having a “critical and blunt” style, especially toward public officials.

The screenshot, according to the indictment, included a headline alleging that Mossad chief David Barnea had received information from the US that they had intercepted calls between Bressler’s partner and Sinwar four days before October 7. The article further claimed that Barnea had summoned Bressler to a meeting, and that the Prime Minister’s Office had later issued a denial of Gotliv’s earlier statements.

The indictment said that the post received in excess of 400,000 views, 1,000 comments, 1,000 likes, and 500 shares. It said that Gotliv’s X/Twitter account had over 65,000 followers at the start of the relevant period, and over 90,000 by the time the indictment was filed.

Prosecutors alleged that Gotliv revealed and published the name of the Shin Bet employee and his relationship with Bressler “knowingly, deliberately, continuously, demonstratively, and repeatedly.”

The indictment said that the post remained available online from the time of publication until the indictment was filed, and that Gotliv did not remove it from her account.

The indictment further said that Gotliv stood by the publication, repeatedly published similar statements in which she again identified Bressler’s partner as a Shin Bet employee, and publicly stated that she had no intention of removing, or apologizing for, what she had written.

The Mossad denied the claim at the time, calling it a “recycled falsehood” and saying Barnea had “never met, spoken to, or invited Shikma Bressler to a meeting.”

Earlier in May, Defense Minister Israel Katz signed a certificate of confidentiality ahead of the indictment filing, clearing a procedural obstacle that had delayed the case.

Gotliv has repeatedly framed the matter as a political and legal fight over her work as an MK. In her post ahead of the indictment, she wrote that the attorney-general had acted after Katz signed the confidentiality certificate, and said she had not yet received the indictment, adding that she expected to read it “soon at one of [Baharav-Miara’s] mouthpieces.”

Sarah Ben-Nun contributed to this report. 

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Lebanon is an integral part of the agreement to end the war with the US, Iran’s foreign ministry spokesperson said on Monday, adding that the draft memorandum mentions Lebanon thrice, calling for an end to the war on all fronts and for respect for its sovereignty and territorial integrity.

Esmaeil Baghaei said diplomatic visits to regional countries are on Tehran’s agenda before the signing of the agreement due on Friday in Geneva, Switzerland.

“Regarding the manner and mechanism of signing the memorandum of understanding, a final decision will be made today and tomorrow, and its results will be officially announced,” he added.

Oman’s Foreign Minister Badr Albusaidi praised the agreement, calling it a “timely win for diplomacy and common sense.”

“The entire global community should welcome Iran-US understanding,” Albusaidi wrote on Twitter/X. “Warm thanks to all who helped get it done.”

This is a developing story.

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The haredi (ultra-Orthodox) parties – Shas and United Torah Judaism – announced on Monday that they would halt voting in favor of coalition legislation after the highly controversial daycare subsidies bill, which would expand state-funded daycare subsidies for draft evaders, was not placed on the plenum’s schedule as planned. 

The daycare bill has been pushed by the haredi parties and aims to change the eligibility criteria for daycare subsidies, basing it solely on a mother’s income, in a move that critics argue will encourage state subsidies for parents of draft evaders even amid the IDF’s severe manpower shortage.

“We have just informed the coalition chairman that, due to the failure to place the Daycare Bill on the Knesset agenda, we will not vote today in favor of coalition-sponsored legislation in the Knesset plenum,” Shas and United Torah Judaism stated in a joint message. 

The plenum schedule published shortly after the announcement did not include any coalition legislation. 

The haredi parties’ announcement comes as the coalition’s highly controversial bill to establish a political probe into October 7 failures was reportedly expected to be brought for its first reading vote in the plenum this week.

The coalition had reportedly lacked a majority to pass the daycare subsidies bill in its first reading, if the vote were to be held on Monday as planned. A group of lawmakers in the coalition have vowed to vote against the legislation, including MKs from Prime Minister Benjamin Netanyahu’s ruling Likud Party.

Shas threatens to halt coalition over Torah Study, Basic Law bill

Last week, Shas also threatened to halt coalition voting if another contentious bill that seeks to enshrine Torah Study in the country’s Basic Law was not advanced. The legislation then passed its preliminary reading on Wednesday, after receiving government backing. 

The Basic Law: Torah Study legislation is part of a proposal pushed by haredi parties that seeks to encourage draft evasion and change the status of yeshiva students who do not serve, enabling them to continue receiving state benefits.

The move to enshrine Torah study into the country’s Basic Law would have sweeping implications on the status of haredim who evade service in the country and would, effectively, equate IDF soldiers to draft evaders.

Haredi party leaders have continuously pushed for Netanyahu’s coalition to advance legislation that would not increase haredi enlistment. The IDF has repeatedly warned of an urgent manpower shortage, notably after more than two years of war.

In March, IDF Chief of Staff Lt.-Gen. Eyal Zamir said the IDF could soon collapse if there is no solution to the manpower shortage.

There have also been reports of an agreement between Netanyahu and the haredi parties to move the election date to October 20, rather than hold it in September, as the haredi parties have sought. In return, they reportedly would receive advancement of the Basic Law: Torah Study and the haredi daycare subsidies bill.

The tensions come amid the coalition’s last Knesset session to advance its legislation before the upcoming elections, scheduled to take place no later than October 27.

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Dozens of haredi (ultra-Orthodox) protesters blocked Gilat Junction near Ofakim on Monday in response to the arrest of a draft dodger by Ofakim police.

Police officers managed to disperse the protests, which blocked Highway 25 and Route 241 after dozens of protesters arrived at the junction and began blocking traffic lanes, according to Israel Police.

“Traffic at the junction has reopened and is operating as normal,” the police said.

“After a police officer called out to the protesters to clear the road and that this was an illegal protest, the protesters began to lie down on the road and next to the wheels of vehicles,” the police added.

Earlier on Monday, 17 haredi men were indicted by the state for breaking into the home of IDF Chief Military Police Officer Brig.-Gen. Yuval Yamin during a protest on April 28 against the enlistment of yeshiva students.

Charges of rioting, trespassing, malicious damage

The indictment includes charges of rioting, trespassing, and malicious damage against the defendants, including four minors, who allegedly broke through the locked gate outside Yamin’s Ashkelon home while his wife and two children, one of whom is a minor, were inside the house.

According to the indictment, the Ashkelon protesters carried signs with slogans like “War on the draft law, in actions and not words,” and shouted phrases like “We will die and not enlist” and “Yuval Yamin is a traitor.”

The Ashkelon Magistrate’s Court received the indictment, which comes amid increasingly violent protests and riots against the arrest of draft dodgers and haredi enlistment in general.

Sarah Ben-Nun contributed to this report.

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Several leaders from the Middle East and Gulf states praised Sunday night’s agreement reached by the United States and Iran.

“I have followed with interest the announcement of the memorandum of understanding reached between the United States of America and the Islamic Republic of Iran, and what it includes in terms of affirming a halt to military actions and escalation in the region, including Lebanon,” said Lebanese President Joseph Aoun in a Monday afternoon statement posted to X/Twitter.

Aoun added that he appreciated Lebanon’s inclusion in the agreement, noting that the people of Lebanon “look forward to these understandings being transformed into practical steps that put a definitive end to the cycle of violence, and establish a phase of stability, security, recovery, and reconstruction.”

Qatari State Minister Dr. Mohammed bin Abdulaziz al-Khulaifi took to his X page to say that his country welcomes “the understanding reached between the United States and the Islamic Republic of Iran, which paves the way for a lasting cessation of military operations.”

“We commend the constructive efforts of the Islamic Republic of Pakistan in facilitating this process, alongside the support of regional and international partners,” he continued.

“Qatar reaffirms its steadfast commitment to peace and dialogue as the most effective means of resolving differences, in line with the principles of the United Nations Charter and in support of international peace and security,” the minister concluded.

Kuwait’s Foreign Ministry released a statement on X welcoming the agreement and encouraging “all parties to engage in the forthcoming negotiations with a positive and constructive spirit,” emphasizing their aim to rebuild and foster neighborliness and mutual respect in the region.

Turkish foreign minister hopes Iran deal will yield ‘positive outcomes’

Turkish Foreign Minister Hakan Fidan told Iranian counterpart Abbas Araghchi in a call on Monday that Turkey hoped further talks with the US would yield positive outcomes after a deal to halt the war, a Turkish diplomatic source said.

Fidan also warned against “provocations” that could derail the agreement and vowed that Turkey would continue supporting efforts for regional peace, the source said. Araghchi thanked Turkey for its efforts in the negotiation process, the source added.

Iraq also welcomed the US-Iran deal to end the war between the two countries, saying it will work to repair relations with countries impacted by the conflict.

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While the exact terms agreed upon by Washington and Tehran have not been publicly confirmed by the White House, experts speaking to The Jerusalem Post on Monday gave little weight to claims by the Islamic Republic that the US agreed to hand over $12 billion in frozen assets to Iran before the start of negotiations.

The semi-official regime-backed media outlet Mehr News Agency alleged that Washington had agreed to release the assets, along with an additional $12 billion over a 60-day negotiation period, citing a purported 14-point memorandum of understanding between the two countries.

Maj. (res.) Alexander Grinberg, an Iran expert from the Jerusalem Institute of Strategy and Security (JISS), told the Post that though he gave little weight to the Iranian report, he was somewhat more willing to consider reports that the US conceded more favorable terms to Iran after Israel’s Sunday strike on Beirut.

Israel targeted a Hezbollah command center in the Lebanese capital after a number of aerial attacks were launched by the Iran-backed terror group.

Statements made on Sunday by both US President Donald Trump and Iran’s parliament speaker Mohammad Bagher Ghalibaf suggested that the strike had threatened negotiations.

Iranian officials told the New York Times that the regime didn’t attack Israel in an apparent response to the Israeli military action after Trump intervened diplomatically.

Timing of asset unfreezing matters – expert

Shany Mor, senior research fellow at the Britain Israel Communications and Research Centre (BICOM), told the Post that it was also within the Islamic regime’s established pattern of behavior to use Washington’s relative discretion on deal conditions to publish their “wish list,” presenting it as a list of concrete terms agreed upon.

Mor stressed that the only favorable terms the US was likely to give Iran were those that could be quickly retracted should the regime fail in its promises or in negotiating in good faith.

“It’s important if it’s [the terms] entirely separate or comes with sanctions relief, and it’s important at what stage of an agreement it comes. So if the US is, for example, agreeing to unfreeze assets at the beginning of this ceasefire before even concluding a nuclear agreement that’s quite a bit graver than, for example, something that would be a partial unfreezing of assets conditional upon reaching agreements within 60 days,” Mor noted.

He added that Washington had not been subjected to enough pressure to justify agreeing to the terms published by the Iranian regime, having only been lightly touched by the inflation caused by the disruption to the vital Strait of Hormuz. Though Iran was able to inflict some costly damage on US facilities and interests in the region, which likely “changed the American calculation a bit,” the United States was at no great disadvantage – beyond Iran knowing that Washington had no interest in pursuing a long war.

With the regime on the verge of economic collapse, Mor said that Jerusalem would be disheartened to see the Islamic Republic receive a “lifeline.” “One hopes,” he added, “that the benefit of that, in terms of an agreement or anything else related to the nuclear issue, is commensurate.”

It would be “positive” for both the US and Israel if Washington were able to achieve a “decent” nuclear agreement within only 60 days, though Mor stressed that, “If the agreement is not very good, and the Iranians are getting sanctions relief and an unfreezing of assets, then they’re really just being given a great chance to rearm, rebuild, and continue their investment in proxy networks.”

Menahem Merhavi, a fellow at the Harry S. Truman Institute for the Advancement of Peace at the Hebrew University of Jerusalem, told the Post that, even if the terms were advantageous to Tehran, such a “boost” would only help Iran in the “short run.”

“Knowing how the regime mismanages the country, I see no great relief in the long term,” he commented, adding that Iran had more internal troubles to grapple with, and it was too late to buy legitimacy from the Iranian people.

“I see more frustration ahead. They will have no one to blame for the dire conditions of the economy.

From a Gulf perspective, Bahraini political analyst Ahmed Alkhuzaie, a managing partner at the Washington-based political consultants form Khuzaie Associates LLC, shared concerns that since the “financial injection offers Tehran short-term economic relief, the absence of strict oversight mechanisms raises the likelihood that renewed resources will be channeled into regional influence operations, sustaining networks of militias and proxies across Iraq, Syria, Lebanon, and Yemen,” which will continue to threaten the region.

Alkhuzaie also noted that the Islamabad Agreement relied on delays rather than real resolutions, “leaving the risk of Iran crossing the nuclear threshold intact, and fueling the prospect of a destabilizing regional arms race.”

Though the Israeli experts were fairly trusting in the Trump administration, Alkhuzaie made clear that the Gulf couldn’t afford to rely on “passive observation of deals struck behind closed doors” and argued that regional powers must push to be involved in ensuring “Iran’s regional conduct and respect for sovereignty” is a priority, “not merely its nuclear program.”

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It’s too early to know what will come out of the agreement between the US and Iran, said Avner Vilan, a former senior security official and expert on Iran’s nuclear program, on Monday.

“Will we see tricks and gimmicks?” he asked, “The Iranians have no problem lying.”

“The nuclear issue, let’s see what is included in the final agreement. I think we will be surprised, with an asterisk. For that matter, there is a draft that was published yesterday by the Iranians. The draft says that Iran will completely stop its enrichment.”

“I have not yet seen this draft agreement; there have been many leaks, but we need to see what is written there. If what was published is what they actually signed, then this agreement is basically a general statement of intent in exchange for immediate relief from pressure,” Vilan explained.

What the Iranians are receiving in this deal

“Opening the Strait of Hormuz in both directions, a halt to the fighting, and then there will be a mechanism through which the Iranians will start receiving money, sanctions will be lifted, they will start giving up their nuclear project,” he said.

Vilan then spoke about what the Iranians would receive immediately after signing the agreement: ‘The immediate money they will get is the lifting of sanctions on oil exports. Iran has not exported oil since the start of the war, and that is a significant loss for them. Exports become legal, and sanctions on Iran will be removed.

“What exactly does that mean? The devil is going to be in the details, and those details are being dodged right now,” Vilan warned.

He then explained that certain key and complex issues would need more attention than this draft agreement seemed to provide.

Deal did not handle Iranian nuclear issue, missiles, proxies, or regime change, expert says

“The nuclear issue, they did not deal with it. Regime change, obviously not. Missiles, obviously not. The proxies, obviously not. They are not included in the agreement.”

“I have already said that the devil is in the details. I am not sure that Iran’s fast track right now toward a bomb will go through known sites. There is not a single word in the agreement about supervision,” Vilan explained.

He emphasized that what we currently know of the agreement relies on trusting the Iranian regime to stay true to their word, which they’ve proven time and time again that they won’t do.

“Iran says it is committing not to develop nuclear weapons and not to enrich, but there is no oversight mechanism that can verify that, so the Iranians know how to operate in secret and advance toward weapons without us knowing. The hard work is still ahead of us.”

Vilan summarized his opinions on the agreement with, “We may be surprised, but with the Iranians, you are never pleasantly surprised.”

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Retired Supreme Court justice Yosef Elron told the High Court of Justice that the Knesset vote in which attorney Michael Rabello was elected state comptroller was conducted unlawfully, joining the core arguments raised in petitions seeking to cancel the result.

Elron’s position was filed as part of his preliminary response to the petitions challenging the June 3 vote. He did not argue that he should be declared the rightful state comptroller instead of Rabello, nor did he ask the court to install him in the role. Rather, Elron responded as a respondent in the case and said he joined the petitioners’ arguments “insofar as they relate to the illegality of the second vote” held in the Knesset.

He also joined the remedies requested by the petitioners, including canceling the election.

The filing is brief, but significant. Elron, who lost to Rabello in the second round of voting, is now formally telling the court that the process by which his opponent was elected was not merely politically improper, but illegal.

Opposition claims secret ballot undermined by coalition’s ask to film votes

Rabello, Prime Minister Benjamin Netanyahu’s personal attorney, was elected state comptroller after a dramatic and disputed vote in the Knesset plenum. In the first round, Elron received 60 votes and Rabello received 57, leaving both candidates short of the 61 votes required for election.

A second round was then held, but was interrupted after opposition MKs alleged that coalition lawmakers were being instructed to document their votes behind the curtain, despite the fact that the state comptroller is elected by secret ballot.

After the vote was restarted, Rabello won 61 votes to Elron’s 57.

The controversy has since become one of the sharpest legal-political clashes around the appointment of a gatekeeper, because the state comptroller is tasked with auditing the government, public administration, and public bodies. The role is especially sensitive in the current period, as the next comptroller is expected to deal with the institutional fallout from the October 7 failures and the war.

The petitions argue that the secrecy of the vote was not a technical formality, but a central legal protection meant to allow MKs to vote freely, without political pressure, threats, rewards, or factional enforcement.

According to the petitions, the alleged filming turned the secret ballot into a loyalty test. Some petitioners argued that the documentation gave the vote transactional value and undermined the integrity of the entire election.

Speaker Ohana: Any instruction to photograph vote illegal, invalid, MKs chose to independently

Knesset Speaker Amir Ohana said during the plenum that any instruction to photograph the vote would be illegal and invalid, but also said MKs could choose to photograph themselves. After consultations, the second round was restarted.

The petitioners argue that this did not cure the defect, because the alleged pressure and the documentation continued to contaminate the vote.

The Knesset and Rabello have opposed the petitions, arguing in part that the petitioners rushed to court before exhausting other procedures and that the factual picture presented to the court was incomplete and misleading.

The High Court set a hearing for June 18. The petitions also seek interim relief that would prevent Rabello from pledging allegiance before the Knesset and taking office before the court rules. State Comptroller Matanyahu Englman is set to finish his term at the start of July.

The court will now have to decide whether the alleged breach of secrecy was serious enough to cancel one of the Knesset’s most sensitive appointments.

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There are still many details to be finalized regarding the preliminary peace deal between the United States and Iran, Vice President JD Vance stated in an interview on CNBC on Monday.

Vance also mentioned that the United States anticipates the Strait of Hormuz will remain open without tolls in the long term after the signing, which is scheduled for Friday.

When discussing Israel’s involvement in the agreement, Vance noted, “I think there are elements in Israel who like the agreement.” He added, “Israel will certainly have a place at the negotiating table in the new Middle East.”

The agreement, announced on Sunday, aims to extend the US-Iran ceasefire for 60 days and establish a framework for future negotiations regarding Tehran’s nuclear program and other critical issues. However, the text of the preliminary deal has not yet been released.

This is a developing story.

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A Russian Tu-22M3 strategic bomber plane crashed on Monday during a training flight in Siberia’s Irkutsk region, the Russian Defense Ministry said, the Interfax news agency reported.

The ministry was cited as saying that the crew had managed to eject and had survived the incident.

Unverified footage of the crash, shared on social media, showed a plane nosediving into a thickly wooded area near the banks of the Angara River, producing a huge column of smoke.

This is a developing story.

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Good morning. At a Cambridge bar on Saturday, I watched straight-seeming couples congregate by a television showing basketball, while a more queer-coded crowd lingered at another showing soccer. I don’t think that’s anything, really, but it was fun. 

This ‘never event’ is happening more frequently

A child born with congenital syphilis could suffer dire consequences: bone deformities, brain damage, blindness, deafness, and more. But that should be a ‘never event’ as public health officials say: A pregnant person can receive an injectable form of penicillin to prevent the infection. Somehow, rates keep going up anyway. Between 2012 and 2024, the U.S. saw an 800% increase in babies born with the disease. And since last year, there’s been a shortage of the drug.

Continue to STAT+ to read the full story…

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Good morning, everyone, and welcome to another working week. We hope the weekend respite was relaxing and invigorating because that oh-too-familiar routine of meetings, deadlines, and the like has returned with a vengeance. But what can you do? The world, such as it is, continues to spin. So time to give it a little nudge in a better direction by firing up our spiffy new kettle — the last one overheated — for a cup of stimulation. Given this is the start of the week, we are reaching for Jack Daniels. Yes, this is a real option for aspiring connoisseurs. Feel free to join us. Meanwhile, here are some tidbits to help you along. Best of luck accomplishing your goals today, and of course, do keep in touch. …

The Trump administration proposed to change a policy that is designed to prevent drugmakers from avoiding Medicare price negotiation by adding active ingredients to drugs, STAT tells us. The policy is part of an annual proposed rule that establishes the process that the Centers for Medicare and Medicaid Services uses to choose the next 20 drugs and biologics for price negotiation. Those drugs will be announced by Feb. 1, 2027, and their negotiated prices will take effect in 2029. Iif a company adds a second drug to one that is eligible for negotiation, the FDA considers the resulting combination drug a new product, giving it additional time before price negotiation. Now, the administration is proposing to subject certain types of combination biologics to negotiation in some cases. 

German Health Minister Nina Warken said that drugmakers will not be exempted from cost-cutting measures, after some companies warned ​they may be unable to launch innovative medicines ‌in Europe unless governments agree to pay more than they historically have, Reuters writes. Proposed legislation in Germany ⁠will cap rapidly growing costs in the statutory health ​insurance system. Warken said she realizes many drug companies are under pressure, and the planned legislation is not going to bring them any extra ​revenue. But she maintained Germany remains an attractive location for the pharmaceutical industry ​thanks to reimbursement under the statutory health insurance scheme and opportunities for clinical trials. So exempting the industry from the proposed legislation is out of the question.

Continue to STAT+ to read the full story…

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A worsening shortage of Bicillin, Pfizer’s injectable form of penicillin, left an Arizona woman unable to receive timely treatment for syphilis during pregnancy.

Also, the FDA approved Sanofi’s diabetes drug Tzield after an unusually contentious review process, and the Trump administration has proposed closing a Medicare negotiation loophole.

Continue to STAT+ to read the full story…

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In 35 years in real estate, I’ve never seen our industry tear itself apart like it’s doing today.

We’re wasting energy and capital, not on innovation, risk-taking or customer delight, but relitigating old tropes. Sadly, few leaders exhibit the qualities that have defined success throughout my career: thoughtfulness, transparency, curiosity, collaboration and a genuine willingness to listen.

Instead, a steady stream of main-stage theatrics and lawsuit leadership make constructive dialogue nearly impossible. For a sector that excels in solving consumer problems, we deserve better internal dialogue. I believe our leaders must set aside the temptation to be disagreeable and learn to become more disagree-able.

I’m not against differences of opinion

I have spent my career helping the industry navigate uncomfortable innovation and change. Our markets thrive on competing ideas and different business models. Challenging assumptions is how we increase value to consumers and agents.

But what’s happening today isn’t just a difference of opinions. We’re arguing over ghosts from the past. Agents who romanticize the time before portals will eventually learn consumers are not so nostalgic. Brokers hoping to revive 1970s listing protectionism will end up ignored by agents building businesses on cooperation and technology-driven transparency. If we keep trying to dial back the clock, the industry will find itself seated uncomfortably across from regulators again.

Is the lion still coming over the hill?

Real estate is a vibrant, diverse mosaic of options. We have never needed a “one-size-for-all” national strategy because all answers already exist in thousands of local markets. Agents and consumers can move to the model that fits best without demanding a single model imposed on everyone. While Europe and Asia clamor for US-styled data transparency, some in America suggest we return to the pre-MLS days of pocket listing practices.

Perhaps it’s due to the prolonged market downturn, but we certainly love boogeymen in this business — the lions have been coming over the hill for decades! Now we’re being sold a dilemma of false narratives. Consumers couldn’t care less about these things; it’s all inside-baseball to them. While we waste energy trying to corner markets and defeat competitors, someone else is building the next better mousetrap to outsmart us all.

Our industry’s approach is all wrong

Even if these issues turn out to be as important as we’re told, our industry’s current approach is wrong. Lawsuits, social media battles and data-feed battles accomplish nothing except damaging relationships. Long-standing industry cooperation is being divided into factions. Some in the media have stopped covering the issues and promote dueling personalities for clicks. The issues are treated like a food-fight for entertainment, increasing suspicions of ulterior motives and fears. Everyone is defensive, when they should be sitting down to talk.

Our leaders can do better.

The real test for solving problems should always be making buying and selling easier, building consumer trust and keeping the industry profitable at the center of the transaction. If we lose sight of these goals, people with power start making mistakes.

Turning off listing feeds isn’t leadership; it’s self-defeating, encompassing agents who must explain to sellers why “taking back our data!” is a valid reason for their homes to fall off the internet. That’s a customer-experience non-starter that also undermines agent retention and attraction. Nobody wants to work for companies or join MLS systems where someone “in charge” can simply turn-off their business plans and consumer-promises on a whim.

We don’t need to reset the clock

Equally misguided are attempts to reset the clock on the last 30 years of growth. Hoping to return MLS to its original model looks bad: after years benefitting from collective investments, we’re now pulling up the ladder behind us. Similarly, hiding property data is absurd. Transparency is the economy’s currency.

Well-known frustrations of home-buying in European markets and shenanigans in non-MLS U.S. markets mean consumers hardly want the Old World of real estate. Suggesting that Gen Z buyers will gladly visit an office to browse secret inventory in a three-ring binder is pure fantasy.

These ideas have run their course and the consumer, if not some in the industry, has moved on. It’s impossible to claim our future requires us to go back in time.

Not all leaders suffer from these delusions

They’ve rightly focused on serving their local companies, clients and agents. They’re working hard to innovate, co-broke collaboratively with local colleagues, and keep the market afloat. Unfortunately, they find themselves caught in the crossfire, forced into conflict with colleagues with whom they would rather collaborate, recruit or even merge.

Furthermore, it’s not just agents and consumers who are dismayed: Agitated regulators are already buzzing. Legislators in multiple states have recently “solved the problem” by banning private listings, because we’re unable to self-regulate on our own.

Ironically, many leaders’ behavior is the exact opposite of what great agents do every day. At the heart of every sale is problem-solving: agents from different companies help consumers with different opinions create mutually beneficial agreements. This is literally what we do for a living, depending upon transparent data and thoughtful skills to craft deals between strangers.

Now it’s time for our leaders to do the same. Here’s how.

First, leaders must separate the people from the problem. Resolving differences won’t happen by dividing the industry into factions of “winners” and “losers.” Scarcity mindset didn’t help the industry sell $6 million homes during the pandemic, and there’s no place for it in the future. Leaders must be hard on problems, but soft on people. They should focus on interests, rather than personal positions. We don’t need “rebels” or “defenders” but leaders who treat parties as stakeholders, without misattributing nefarious motives to their interests. Only then can we build the trust required for constructive dialogue.

Second, leaders must set aside their reliance on lawsuits, social media and press releases. Resolving differences happens when leaders step off the stage and do the hard work of developing options, not demands. Rarely does forcing choices “you cannot refuse” work. Lawsuit thinking must end. Smirking selfies on social media won’t produce lasting results, either. This isn’t a game, but the real world of agents businesses and consumer’s housing dreams.

Leaders must ask different questions: “What ideas hasn’t anyone considered yet? How many possibilities can we discover?” Curiosity uncovers options and reduces fear. Smart leaders replace pre-conceived narratives (“MLS just wants control! Some brokers are trying to corner the market! Portals are evil!”) with questions (“Could we try this instead?”). We must prioritize solutions, not victories over competitors. For any resolution to work, the parties will have to overcome their cautions and take calculated risks. That’s more likely in an environment of “what if” rather than “my way or the highway.”

Finally, leaders must manage the emotional environment. Effective leaders control their emotions as well as prevent supporters from emotional self-sabotage. When stakes are high, strong feelings can help us seek change. But they can also interfere with progress. Agents, brokers and consumers take their cues from our leaders’ public presence. Calm, reasoned conduct creates the confidence for compromise. Wise leaders can prevent our industry from being sabotaged by unrestrained feelings, just as agents often keep clients’ emotions from rejecting a reasonable offer.

Find your superpower and move beyond the division

These leadership principles offer leaders the superpowers needed to resolve these issues and return our focus to growing the market. By prioritizing relationships, setting aside positional power, and developing options, leaders can seek solutions that lift all boats. Progress doesn’t require anybody’s defeat. This is what we call the sapiential power of leaders, using wisdom to drive mutual success. It’s relational thinking, not transactional, that believes in abundance for everyone.

Our industry has survived many challenges over the years, each time emerging stronger. When I started in 1991, a typical year produced 3 million transactions; more recently, 5 million has become the norm. That growth didn’t happen at the expense of anyone; it came from the collaboration of everyone. Our finest moments have been the times we set aside differences and collaborated to find answers. Nothing we’re facing today is insurmountable. Let us encourage our leaders to reconnect with our greatest asset – our relationships – and become the leaders we need at times like this:

Not simply disagreeable, but disagree-able.

Matthew Ferrara is one of the real estate industry’s most respected thinkers and leaders.

This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.

To contact the editor responsible for this piece: tracey@hwmedia.com

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The headline numbers on AI adoption in residential real estate look unambiguous. The story underneath those numbers is not. If you lead a brokerage, team or run your own book of business, the second story is the one that should be on your desk this week.

Because brokerages are reporting near-universal AI adoption. Agents are reporting significant productivity gains. And those two facts are not always connected to each other in the way the slide decks suggest.

The headline numbers

On the brokerage side, the AI rollout is real. Ninety-seven percent of brokerage leaders now report that their agents use AI, up from 80% in 2024. Non-adoption at the brokerage level has fallen to about 4%, and only 2% of brokerage leaders said they do not plan to adopt AI in 2026. The market has moved from curiosity to capability, with AI now embedded in the average agent’s daily workflow.

On the use-case side, the marketing function is leading. Roughly 82% of agents now use AI to write listing descriptions, up from 58% in 2024. Seventy-four percent use AI for blogs, social posts, and email campaigns, and 49% use it for social media planning.

That is a real shift and the brokerages have earned the headline. The question, for the people who actually do the work, is what those numbers actually pay for at the closing table.

What the hype leaves out

Industry coverage in the last 90 days has been more honest than usual about the gap. Reporting has tracked brokerages and teams rolling out AI assistants for leads, CRM and coaching. It has also tracked how data ownership and AI tools are reshaping the underlying brokerage tech stack, which means the tool is now part of the deal, not a side feature.

New entrants like Lofty are pushing further, marketing what they call an agentic AI operating system designed to take multi-step actions on an agent’s behalf. The promise is that the AI does not just write the email. It runs the workflow.

Yet, a separate stream of reporting has been blunt about the limits. A piece on what separates successful AI adopters from dabblers in real estate found that the gains concentrate in a small group of power users, with most agents reporting little to no meaningful impact on their numbers. That is not a marketing problem. That is a workflow problem.

Powerfact: Adoption is not the same as productivity. A brokerage can hit 97% adoption and still have 70% of its agents producing the same volume they produced two years ago. The tool is in the building. The result is in the user.

Where the actual productivity lives

If you have spent any time inside an agent’s actual day this season, you already know the gap. The agent writes the listing description in a free public model, not the brokerage suite. The agent dictates the listing-presentation prep notes into a free voice tool. The agent uses a public chatbot to clean up a buyer email before sending it through the company CRM.

That is not a failure of brokerage AI. That is a maturity gap. Brokerage tools are built for compliance, security and integration. Free public models are built for speed. Right now, speed is winning in the moment of work. The brokerage tools will catch up where they catch up, and they will not catch up where they do not. Either outcome is fine. The pretending is the problem.

What agents and brokers should do

For agents, run a two-column audit this week. Column one, the AI tasks your brokerage suite handled well in the last 30 days, with specific examples. Column two, the AI tasks you finished faster outside the suite. Whichever column is longer is the one you build your workflow around. Be honest. The seller does not care which tool you used. The seller cares about the outcome on the kitchen table.

For brokers and team leaders, stop measuring AI by license count. Measure it by output. If 80% of your agents are logged into the brokerage AI but only 12% are using it for the work that moves their numbers, the rollout is a vanity metric. Build a six-week productivity loop. Pick three high-value workflows. Listing-presentation prep. Buyer follow-up. Market-update emails. Measure time saved and deals advanced. Then publish the results internally, the good and the ugly.

For everyone, learn one prompt structure cold rather than 50 hacks. The data inside the brokerage AI report and the data inside the public-model report keep pointing at the same conclusion. The gain is not in the platform. The gain is in the operator. That is true if you pay for the tool and true if you do not.

Powerfact: Technology enhances judgment. It does not replace accountability. The agent who answered the phone, did the work, and told the truth is still the differentiator. That is the part the AI cannot do.

The future impact

There is real money being spent on AI in this industry, and there is real signal in the adoption numbers. The brokerage AI category is going to keep maturing through the rest of 2026, and some of the agentic platforms now in market will end up being the standard infrastructure of the working agent’s day. That is a healthy direction.

What is not healthy is the gap between the marketing of the tool and the use of the tool. Closing that gap is the next 18 months of work. Until then, the working agent’s job is the same job it has always been. Serve the client. Tell the truth. Use the best tool that helps you do both. The logo on the tool is not the point.

Watch the AI category, by all means. Then close the tab and go to work.

Darryl Davis, CSP, has spoken to, trained, and coached more than 600,000 real estate professionals around the globe. He is a bestselling author for McGraw-Hill Publishing, and his book, How to Become a Power Agent in Real Estate, tops Amazon’s charts for most sold book to real estate agents.

This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.

To contact the editor responsible for this piece: tracey@hwmedia.com

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The open marketplace is the most valuable asset our industry owns, and at the moment, no single organization is responsible for protecting it.

That should sit uncomfortably with every broker-owner and association leader. We have a National Association of Realtors that reports more than 1.5 million members. We have RESO setting the data standards. We have 489 separate MLS systems doing the daily work of keeping listings accurate, current and visible to every buyer. What we do not have is one body whose only assignment is the health of the marketplace itself.

For decades that gap did not matter, because no one was strong enough to exploit it. That era is over. National portals and brokerages now negotiate, litigate and advertise from positions of real national scale, while the MLSs that actually run the marketplace meet them one market at a time. A national portal can sit across the table from the country’s 489 MLS systems and work them individually. No single MLS, and certainly no small one, holds enough leverage by itself to keep a national standard from buckling under that kind of pressure.

The answer is not another layer of bureaucracy. It is an alliance — a voluntary body of MLSs organized around five specific jobs.

  1. Set the national rulebook floor. The alliance adopts minimum marketplace standards that every member agrees to follow. Every listing registered and visible to all MLS participants. A uniform written seller disclosure before any private or delayed marketing phase. Consistent definitions for Coming Soon and office exclusive status. Uniform timelines.

    No member may drop below the floor and every member may add stricter rules above it. This is the architecture of building codes: a national minimum, with room for local additions. A county can always require more than the code requires. It can never quietly require less.

  2. Negotiate data licensing as one body. Today a national portal can negotiate hundreds of separate data agreements and let MLSs compete against one another on terms. Under an alliance, members adopt a common licensing framework with standard terms, standard pricing principles and standard enforcement.

    A portal that wants alliance listings negotiates that framework once, with a body that speaks for the more than 1.5 million members NAR reports plus the many subscribers who carry no NAR affiliation, rather than picking off MLSs one by one. The alliance owns no one’s data. Each MLS still licenses its own. The alliance simply hands every member the same set of terms to stand behind.

  3. Defend members with a shared legal fund. Members contribute to a pooled legal defense and policy fund, so that when a national player sues, pressures or threatens one MLS, it meets the resources of all of them. The fund changes behavior before a single complaint is filed. The recent disputes over private-listing and listing-access policies, now the subject of ongoing federal litigation, show how expensive it is for one MLS to stand alone against a national balance sheet. Shared defense takes that imbalance off the table.
  4. Build shared standards and shared technology. Working from RESO’s existing data standards, the alliance can fund the tools every member needs and few can build alone: cross-market listing search, fraud detection, compliance systems and clean consumer-facing data feeds. The smallest MLS in the country gains capabilities that today belong only to the giants. Pooled infrastructure is how a hundred modest players can buy what one large player builds for itself.
  5. Tell the consumer story with one national voice. Right now, the private-listing pitch reaches consumers through companies with national advertising budgets, while the case for the open market is made piecemeal, market by market, if it is made at all. The alliance funds a sustained national campaign built on one plain message: the open market is how your home reaches every buyer, and every buyer reaches every home. Sellers deserve to hear both sides before they sign.

It is worth being precise about what this alliance is not, because the objections write themselves otherwise.

It is not a national MLS. There is no central database and no merger of systems, and listing data stays with the local MLS that collected it. It is not a replacement for NAR. NAR is the association of brokers and agents; the alliance is an organization of MLSs, including the many that operate outside NAR affiliation. The two can and should work together, but the marketplace needs a body whose sole charge is the marketplace. It is not anti-brokerage or anti-portal, either. Brokerages and portals are essential to this business, and a marketplace that stays open, complete and fair serves every honest participant, including them. And it is not mandatory. Membership is voluntary and open to any MLS that adopts the floor.

That voluntary structure is the piece skeptics tend to underestimate. Visa did not conscript its member banks. The Associated Press did not draft its member newspapers. Both became indispensable because standing together plainly beat standing alone, until joining was the obvious choice rather than the forced one. An MLS alliance can grow exactly that way, on the strength of its benefits: the legal fund, the licensing framework, the shared technology, and the single national voice.

The real estate professionals we coach do not need their leaders to win every argument with a portal or a brokerage. They need leaders who make sure the field those arguments are played on stays level. The marketplace has never protected itself, and it will not start now. The only open question is whether the people who depend on it will organize to protect it first.

Darryl Davis, CSP, is a speaker, coach, and bestselling author who has trained real estate professionals, and the leaders who build them, for more than 40 years. He is the founder of the POWER AGENT® Coaching Program and Darryl Davis Seminars. Learn more at darrylspeaks.com.

This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.

To contact the editor responsible for this piece: tracey@hwmedia.com

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Two Harbors Investment Corp. said in a letter on Monday that UWM Holdings Corp. failed to submit a revised offer to buy the company or request to extend a waiver period to negotiate, leading the seller to urge shareholders to approve its sale to CrossCountry Mortgage (CCM).

The waiver period, obtained after investor feedback and a recommendation from proxy advisory firm Institutional Shareholder Services, expired on Friday. CCM is offering $12 per share in cash, plus a stub dividend, a proposal to be submitted for vote on June 23. UWM had offered $12.50 per share in cash, or if a stockholder chooses, 2.3328 shares of UWMC stock.

With that waiver in place, Two Harbors said its CEO, William Greenberg, invited UWM’s CEO, Mat Ishbia, on June 8 to meet “at any time.” The company also offered to provide additional due diligence and consider any proposal. Ishbia scheduled a video call for Thursday.

During the call, UWM raised concepts including “making cash the default consideration, modifying the election to default a subset of stockholders into cash, or potentially changing the exchange ratio,” Two Harbors said.

But when asked to put a specific proposal in writing, Ishbia said he was unsure whether any proposal would be forthcoming and that UWM would “have to look at this closer,” according to the seller.

Two Harbors said it encouraged UWM to outline additional diligence needs, but UWM did not provide specific requests. The company added that Greenberg responded to subsequent emails from Ishbia and offered additional meetings, which UWM declined to schedule. Advisors to Two Harbors also contacted UWM’s advisors to encourage a revised bid, the letter said.

Two Harbors’ board has reiterated concerns that UWM’s most recent proposal would have defaulted non-electing stockholders into UWM shares rather than cash.

Default stock consideration worth less than half of the cash offer

Based on UWM’s June 12 closing price of $2.38 a share — which Two Harbors noted in the letter was an all-time low and more than 50% below its December 2025 level of $5.12 — the default stock component would have had an implied value of about $5.55 per Two Harbors share. That compares to a stated $12.50 per-share cash election option, making the default stock consideration worth less than half of the cash offer.

Two Harbors said that if just 7% of its investors failed to make an election, a level it called realistic given its shareholder base and typical participation rates, the aggregate value of UWM’s mixed cash-stock proposal would fall below CrossCountry’s bid. The gap would widen further if CrossCountry’s stub dividend is included, according to the company.

“We have been clear with UWMC — publicly, privately and through our advisors — about the board’s concerns with UWMC’s proposal structure,” the board stated in the letter. “Our strong preference for fully financed, all-cash consideration for all stockholders reflects our fiduciary duties to all TWO stockholders and our obligation to evaluate any proposed transaction in its entirety, not just its headline terms.”

The board also pointed to comments made by UWM’s leadership during the negotiation period.

“As UWMC’s own CEO acknowledged during the June 11 call, ‘no one smart is going to pick UWM stock at the price it’s at right now,’” the board said. “We are not aware of any precedent for a transaction where the default stock consideration at signing is worth less than half of the stated cash election price.”

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Bitcoin’s (CRYPTO: BTC) has popped above $65,000 on peace deal news, but its current long-term downturn may have more to do with time than price, according to crypto analyst Benjamin Cowen.

“Time-Based Capitulation More Important

In a June 14 market update, Cowen compared Bitcoin’s current cycle to prior midterm-year bear markets in 2014, 2018 and 2022, which historically lasted between 50 and 60 weeks from peak to trough.

While the current downturn roughly 35 weeks old, Cowen says the market may still need additional time before a definitive bottom forms.

Over the past month, BTC prices plunged around 16% while the past year saw …

Full story available on Benzinga.com

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Bitcoin (CRYPTO: BTC) climbed above $65,000 on Monday after reports of a U.S.-Iran peace deal triggered a broad risk-on move, with Coinbase (NASDAQ:COIN) CEO Brian Armstrong saying he believes BTC has probably bottomed at $60,000.

US-Iran Peace Deal Reopens Strait of Hormuz and Pulls Risk Premium Out of Markets

President Trump announced Sunday that the US and Iran reached a framework agreement, with the naval blockade set to lift and the Strait of Hormuz reopening once both sides sign. 

The deal, reported by CNN, closes the chapter on the single biggest inflationary pressure weighing on global markets since the conflict began, with oil supply restrictions through the strait driving energy costs higher for months.

Moreover, Ethereum (CRYPTO: …

Full story available on Benzinga.com

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Michael Saylor argues that investor confidence in Ethereum (CRYPTO: ETH) has collapsed as the token fights Solana (CRYPTO: SOL) and BNB (CRYPTO: BNB) in a battle that has drained all three of their monetary premium.

Saylor Says Bitcoin Dominance Climbed From 41% To 70% While ETH Lost Its Premium

Excluding stablecoins, Bitcoin’s (CRYPTO: BTC) market dominance climbed from roughly 41% in 2021 to nearly 70% today, Saylor said at the Bitcoin Corporate Day event on June 15.

ETH, SOL, and BNB have competed so intensely against each other that none retained a monetary premium, meaning each now depends purely on utility to justify its valuation.

Saylor framed the past 12 months as confirmation of three things: …

Full story available on Benzinga.com

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Bitmine Immersion (NYSE:BMNR) bought 76,881 Ethereum (CRYPTO: ETH) last week, bringing total holdings to 5.62 million ETH as BMNR jumped 6% in pre-market Monday.

Buying Pace Stays Elevated As Bitmine Closes In On 5% ETH Supply Goal

Bitmine now holds 4.66% of Ethereum’s total supply of 120.7 million coins, putting the company 93% of the way to its stated goal of owning 5%. 

Chairman Tom Lee said the company is maintaining an elevated buying pace because the ETH price pullback does not reflect strengthening Ethereum fundamentals.

“We believe we are in the early stages of crypto spring,” Lee stated. “Bitmine is expected to reach the alchemy of 5% sometime in 2026,” he added. 

Total crypto, cash, marketable securities, and moonshot holdings now stand at …

Full story available on Benzinga.com

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On June 17, former Spanish prime minister José Luis Rodriguez Zapatero (in office 2004 to 2011) will make history as the first person of his standing to appear before the National Court, cited by Judge José Luis Calama.

Zapatero’s camouflage as a diplomatic mediator in Venezuela since 2015 has rubbed away, exposing an accused whitewasher for the regime, who may have skipped official channels and gone straight to Spanish Prime Minister Pedro Sánchez for the 2021 bailout of the failing Venezuelan airline Plus Ultra during the COVID-19 pandemic. 

Calama is examining whether Zapatero led a network that profited from lobbying for Plus Ultra, according to a report by ABC News.

Calama has identified some €1.95 million moved via front companies, falsified paperwork, and opaque financial routes, according to NBC News, as quoted by Quartz media on May 20.

Thanks to pressure from France, Switzerland, and the United States, Zapatero is now in the international spotlight and will soon be on the stand.

Calama’s 800-page indictment alleges that Zapatero held a “determinant influence” over Venezuelan oil transactions; that foreign buyers interested in Venezuelan crude had to submit their letters of intent directly to Zapatero.

The judge’s indictment adds that a corruption scandal at this scale, with the ex-prime minister at the center, could only have occurred with a high degree of political impunity in Spain.

Twists and turns of court documents widely discussed in Spain

Information about court documents, with new twists and turns, is published across the Spanish media daily and discussed ad nauseam in the bars and cafés. 

The funds provided for the bailout of the Plus Ultra airline were allegedly used to channel millions of euros to foreign corporate networks involved in Venezuelan gold and oil trades. Following the indictment, the judge froze approximately €490,000 in Zapatero-linked accounts, as well as the accounts of his daughters’ marketing company, What the Fav.

UDEF, a Spanish National Police unit for the investigation of money laundering and large-scale corruption, has conducted raids, including four simultaneous ones last month, targeting Zapatero’s and others’ offices or business premises, following an initial raid on the Plus Ultra airline headquarters at Adolfo Suárez Madrid-Barajas Airport. 

Calama alleges that Zapatero and people in his circle received €1.95m. ($2.11m.) in improper payments from the Plus Ultra bailout case.

The judge has issued international arrest warrants for Plus Ultra primary shareholders Venezuelan Rodolfo Reyes and María Aurora López, for alleged membership in a criminal organization, embezzlement, and money laundering, Democrata media reported on May 25.

In a May 19 report, El País explained: “The Attorney-General’s Office, led by Alejandro Luzón, has been looking since 2024 into the whereabouts of the bailout funds [for Plus Ultra] granted in March 2021, after receiving two information requests from authorities in Switzerland and France regarding alleged money laundering activities in those countries.”

In a May 28, 12-hour search and data clone raid on the Spanish Socialist Workers’ Party’s (PSOE) iconic Madrid headquarters on Ferraz Street, the Civil Guard’s elite crime investigation unit and anti-corruption division (UCO), operating under judicial orders, turned up an alleged network used to discredit judicial cases. 

According to media reports, UCO uncovered extensive incriminating material, including high-end luxury jewels currently valued in the press at €1m., in Zapatero’s domains. The former prime minister claims the jewels are a family inheritance of his wife. 

Zapatero, in his role as diplomatic mediator in Venezuela, got Sánchez to agree to bail out the minuscule Venezuelan Plus Ultra airline during the COVID-19 pandemic, for €53m., a sum far beyond the worth of the airline. Judge Calama says a Dubai-based shell company was created to assist with covering the airline bailout’s money trail.

An immediate result of that bailout was a visit to Spain by then-Venezuelan-president Nicolás Maduro’s number two, vice president Delcy Rodriguez, who arrived on the tarmac at Barajas with many heavy suitcases and facing no controls. What those suitcases were filled with remains to be seen.

Part of the money Zapatero earned from his dealings with the Venezuelan regime may have been laundered through his two daughters’ marketing agency, coming from a consulting firm called Analisis Relevante. Currently, they have not been indicted. Speculation in the media is that if they are, Zapatero is likely to make a deal to spare them. That would bring the hot seat closer to Sánchez.

Sanchez’s corrupt associates become household names

IN TERMS of the ongoing corruption cases of those who have been closest to Sánchez, “Abalos,” “Koldo,” and “Aldama” have become household names across Spain in the past few years. 

José Luis Abalos, once Sánchez’s influential transport and development minister and former member of the Congress of Deputies, is in jail, awaiting sentencing this week, after three years.

It is expected that Abalos, from whom Sánchez has distanced himself, will receive a longish sentence, as will his aide, Koldo García, for their involvement in the famous “Caso Koldo,” an alleged scheme for the provision of cheaper and subpar COVID masks to the health services, playing with people’s lives during the pandemic.

Víctor de Aldama is accused of facilitating the mask business. He has cooperated with information-sharing with the judiciary since the case began. Aria media noted that “in the last two [court] sessions, it has become clear that Aldama had the ability to move around the Ministry of Transport headquarters, in the Nuevos Ministerios complex, as if he were one of them.”

The case has become a major political liability for Sánchez. The fate of Aldama appears to be where Zapatero’s (and therefore also the prime minister’s) future hangs most in the balance. 

If Aldama manages to avoid jail time altogether, a politcal analyst close to The Jerusalem Post said, it is possible that Julio “Julito” Martinez, Zapatero’s best friend, who is also under investigation, might also decide to cooperate with the judiciary.

Analisis Relevante, the corporate network that made payments to Zapatero’s daughters, is managed by Martinez. It is now alleged to have been created for the sole purpose of money-laundering kickbacks from Plus Ultra. In 2020, as Plus Ultra lobbied Zapatero for a Spanish government bailout, his daughters received an initial transfer of €25,400 from Analisis Relevante.

On May 19, in a raid on the offices of Zapatero, UDEF discovered a hidden safe containing over 100 luxury items, watches, and pieces of jewelry, as well as Martinez’s handwritten notes detailing transactions with Venezuela. 

Previously, when UDEF officers, on December 11 last year, raided Martinez’s home, they discovered €286,000 in cash hidden in cardboard boxes, radiators, and golf bags.

A MASSIVE cover-up operation is alleged to have been set in motion on the day that Sánchez’s wife, Begoña Gómez, was formally charged with corruption, influence peddling, and embezzlement after a two-year investigation in a ruling dated April 11, published two days later. 

At that point, the prime minister announced to the country that he was taking a pause for four days of reflection to decide whether or not to resign. He is alleged to have immediately called a meeting with his right-hand man, Santos Cerdan, then-PSOE organizational secretary (who resigned last year after a judge found “firm evidence” of his taking kickbacks on public construction contracts), and is alleged to have given the order to interfere with any processes against him. Cerdan was a busy man, so a woman called Leire Diez was the “operational person of Santos Cerdan,” the political analyst explained.

When agents from the Central Operational Unit (UCO) of the Civil Guard raided the home of Diez in December, in a sealed National Court investigation into an alleged judicial obstruction plot, they found copious evidence against her for allegedly orchestrating an operation to obstruct justice and derail corruption cases involving the PSOE or the government. They seized electronic devices, notebooks, and diaries. She was arrested and later released on bail 

During the Ferraz headquarters raid last month, the UCO acquired information linking Diez’s activities and travel expenses directly to the party leadership.

Information was also found on the activities of SEPI (the State Industrial Holdings Company), Correos (state postal service), Tragsa (a state-owned company), and EFE, the state news agency.

Diez’s notes and recordings span several years of plans, calls, meetings, ideas, negotiations, and notes on suspected corruption within public entities she worked for, or those she learned about from former SEPI president Vicente Fernández, with whom she maintained a romantic relationship. He also charged in this case.

Information stored by Diez indicates a direct attempt to tamper with evidence by then-transport minister Abalos, at the time, Sánchez’s number two in both the government and the socialist party.

UCO collects proof of attempts to shut investigation down

According to media reports, the UCO has collected proof of attempts at varying bureaucratic levels and even inside the Civil Guard to shut down the UCO’s investigation.

On Wednesday, Democrata media published that the State Attorney-General’s Office had ratified before National High Court Judge Santiago Pedraz, who is investigating the Diez case, the existence of two meetings between Diez, Cerdan’s lawyer, and a former high-ranking official linked to then-attorney-general Álvaro García Ortiz, who resigned as attorney-general in 2025, found guilty by the Supreme Court of revealing secrets in a mudslinging attack on Madrid President Isabel Díaz Ayuso, a sharp critic of Sánchez. 

Diez is yet another person whom Sánchez denies knowing, in his classic: “I don’t know”; “I haven’t heard”; “I am not aware” meme-spawning response.

“Diez is the Holy Grail,” the analyst told the Post. “From her, many strings will unravel.”

AT A time when he could be nearing the end of his career, Sánchez chose to redirect public attention by praising the son of the arch-terrorist Marwan Barghouti, Arab Barghouti, who spoke at the Primavera Sound music festival in Barcelona on June 6, addressing the massive crowd even before the first act, at what has become a major hub for pro-Palestinian activism. Barghouti thanked the residents of Barcelona for supporting the Palestinian cause. 

Sánchez greeted him after his speech, praising his “resistance.” The Spanish prime minister later posted a video of Barghouti’s speech on his official Instagram account, with “Thank you for raising your voice.”

That morning, Sánchez had met with Pope Leo XIV to welcome him to Spain, upon the premier’s own recent return from visiting the pope in Rome. The prime minister was criticized by the media and the public for not attending more events with the pope and instead using the government Falcon plane to attend Primavera Sound with his wife.

The pope’s visit, an enormously popular event in Spain, bringing people from all over the country to Madrid, was strategically planned by Sánchez in one of his masterful smokescreens to direct public attention away from the trials, the analyst noted.

Sánchez is “just an empty suit,” he told the Post, “He is the ideal head of state for the new world order in Europe: anti-America and anti-Israel, able to jump on the bandwagon and address the son of a terrorist at a music festival in Barcelona, the area of Spain with the highest antisemitism.” 

The analyst described the head and poster boy of the Socialist International as “good-looking, plays the part of just the right sort of Western leader to position against Trump and Israel, but he is an empty suit.”

According to testimony given to the investigating judge by businessman Aldama, an oil transaction involving six million barrels of Venezuelan crude, valued at approximately €250m., was allegedly orchestrated by Zapatero to funnel kickbacks to the PSOE and the International Socialist. This appears to be how “godfather” Zapatero bought Sánchez his seat as head of the International Socialist.

If the forthcoming testimony manages to tie Sánchez in with any of these threads, Spain’s current prime minister will likely be facing jail time.

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Anthropic said Friday that it disabled access to its two most powerful artificial-intelligence models, Fable 5 and Mythos 5, to comply with an export-control directive from the U.S. government that cited national-security authorities. The company disclosed the move in a public statement, saying the order arrived at 5:21 p.m. Eastern and required immediate action.

The directive was narrow on paper but sweeping in effect. Anthropic said it was instructed to block access for any foreign national, whether inside or outside the United States, including foreign-national employees of the company. Because Anthropic said it cannot reliably screen users by nationality in real time, it concluded the only way to comply was to disable both models entirely.

Access to the company’s other AI systems remained available. Anthropic said users would be routed to alternative models, including Claude Opus 4.8, while the restrictions remain in place.

The timing was particularly significant because Anthropic had launched Fable 5 and Mythos 5 only days earlier, positioning them as among the most capable AI models it had ever developed. According to the company, Fable 5 was the first model of its capability level released broadly to the public, while Mythos 5 was available only through limited government and enterprise partnerships.

According to Anthropic, the suspension order came through a directive from the Commerce Department involving the Bureau of Industry and Security. The company said it received little detail regarding the underlying national-security concerns that prompted the action.

Anthropic stated that its understanding is that the government’s concerns stem from a reported technique capable of bypassing certain safeguards within Fable 5. The company disputed the significance of the issue, arguing that the reported vulnerability involved only a limited number of previously known weaknesses and did not justify removing the model from service entirely.

The company nevertheless complied with the directive while publicly challenging its rationale.

Anthropic argued that governments should retain authority to intervene when AI systems create genuine safety risks, but maintained that such actions should occur through a transparent process supported by clear technical evidence and established legal standards.

The company said it is working with federal officials in an effort to restore access as quickly as possible.

The episode could represent a significant precedent for the AI industry.

While governments around the world are actively debating how advanced artificial-intelligence systems should be regulated, direct intervention resulting in the removal of publicly available frontier models remains rare. The decision immediately affects developers, businesses, and organizations that had begun integrating the newly released models into their operations.

For corporate users, the incident highlights a growing risk associated with reliance on advanced AI platforms: the possibility that government action, regulatory intervention, or national-security reviews could affect access with little warning.

The dispute also arrives at a time when AI companies face increasing scrutiny from policymakers concerned about cybersecurity, biological threats, intellectual property, export controls, and geopolitical competition.

For investors, the situation introduces another variable into evaluating AI companies and their business models. As artificial intelligence becomes increasingly tied to national-security considerations, regulatory risk may become just as important as technological capability when assessing future growth.

For now, two of Anthropic’s most advanced AI systems remain offline, the company continues to challenge the reasoning behind the order, and the broader technology industry is watching closely to see whether the models return — and what conditions may be attached to their return.

JBizNews Desk — Technology

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France must drop its tax on American technology or face a 100% tariff on its wine, President Donald Trump warned hours before departing for the Group of Seven Summit.

The U.S. will “have no choice” but to apply the tariffs if French President Emmanuel Macron does not end its 3% levy on large digital services companies.

“I asked him not to charge American companies, and if they do, I have no choice but to charge a 100% tariff on all champagnes and all wines coming out of France,” Trump told the New York Post in an interview. “All [Macron] has to do is get rid of the sales tax, and he wouldn’t have that kind of pressure.”

The warning raises the prospect of a renewed transatlantic trade clash as Trump heads to Évian-les-Bains, France, for the G7 summit Macron will be hosting. The gathering comes as U.S. allies remain wary of Washington’s increasingly aggressive approach to trade disputes.

TRUMP SIGNS ‘RECIPROCAL’ TARIFF PLAN FOR COUNTRIES THAT TAX US GOODS

he White House did not immediately respond to FOX Business’ request for comment.

France’s digital services tax, often called the GAFAM (Google, Apple, Facebook, Amazon, and Microsoft) tax, has been in force since 2019. It applies a 3% levy to revenue earned in France by large digital companies with more than about $29 million in French revenue and about $870 million in global revenue. The measure has long angered U.S. officials because it disproportionately affects American technology firms.

Trump’s comments appeared to contradict claims from Macron’s office last week that the dispute was no longer under debate among G7 countries. The New York Post reported that a U.S. official had dismissed that account as inaccurate.

BATTERED US WINE IMPORTERS BRACE FOR HIGHER TARIFFS

The latest threat revives tariff levels first floated during a U.S. Trade Representative investigation into France’s digital tax in 2019. Trump previously threatened steep tariffs on wine and other alcoholic beverages from France and the European Union, including threats of 200% duties as trade tensions escalated.

Alcohol is one of the European Union’s top exports to the United States, worth about €9 billion ($10.5 billion) in 2024, according to Eurostat data. France is particularly exposed because products such as champagne and cognac must be produced in specific regions, leaving producers with limited ability to shift supply chains.

French wine and spirits exports to the U.S. currently face a 15% tariff, a rate French officials have been lobbying to reduce to zero since Trump and European Commission President Ursula von der Leyen agreed to a U.S.-EU trade deal in Scotland last summer.

TRUMP’S G7 MEETINGS COME AMID CHINA BRAWL

The New York Post reported that the U.S. market accounts for about one-fifth of the French wine industry’s global sales, worth more than $2 billion annually.

France’s National Assembly voted in October to double the digital tax to 6% and narrow the threshold to focus on the largest global companies, though ministers later vetoed the move. Lawmakers had initially considered a far larger increase before scaling it back amid industry pressure.

Trump’s renewed tariff threat also comes as other U.S. trading partners reassess digital services taxes under pressure from Washington. Canada shelved its digital tax in 2025 after the U.S. broke off trade talks, while Italy has reportedly weighed repealing its own levy. Britain has maintained its digital services tax under its current trade arrangements with the United States.

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The G7 summit runs through Wednesday in Évian-les-Bains. The group includes Canada, France, Germany, Italy, Japan, the United Kingdom and the United States.

Reuters contributed to this report.

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MENLO PARK, Calif. — A year ago this month, Mark Zuckerberg stunned the technology industry by spending $14.3 billion for nearly half of data-labeling company Scale AI and bringing its founder, Alexandr Wang, into Meta to help revive the company’s artificial intelligence ambitions.

In April, Wang’s team delivered what Meta hopes is the payoff: Muse Spark, the company’s first major AI model designed to compete directly with industry leaders. Zuckerberg called it a “first milestone” toward what he describes as personal superintelligence.

Now comes the harder challenge: convincing businesses and consumers to use it.

The urgency traces back to April 2025, when Meta released Llama 4, the latest version of its open-source AI model family. The launch disappointed many developers, a more advanced version was repeatedly delayed, and Meta’s reputation in AI suffered.

Zuckerberg responded by changing course.

Two months later, he recruited Wang, then just 28 years old, along with several top engineers from Scale AI. The move became part of a broader hiring push in which some AI researchers were reportedly offered compensation packages approaching $100 million.

The biggest shift was strategic.

For years, Meta gave away its AI models for free, betting that openness would attract developers and build influence. Muse Spark marks a move toward a more controlled approach that Meta can eventually monetize.

The company has already begun offering limited paid access through private partnerships, with broader commercial availability expected later. The strategy closely mirrors the business models used by OpenAI, Anthropic, and Google.

Rather than focus primarily on developers, Meta is targeting the billions of users already inside its ecosystem.

The company says Muse Spark can perform multiple tasks simultaneously, assist with coding, answer health-related questions, and shop online for users through a new commerce feature.

The technology already powers the standalone Meta AI application and is being integrated across Facebook, Instagram, WhatsApp, Messenger, and the company’s Ray-Ban Meta smart glasses.

According to Thomas Randall of Info-Tech Research Group, Meta’s strategy is straightforward: leverage existing products with massive user bases instead of waiting for third-party developers to build adoption.

Internally, Zuckerberg has reorganized the company to accelerate deployment.

In March, Meta created a new applied-engineering division under longtime executive Maher Saba, working alongside Wang’s Superintelligence Labs to transform research into products. Chief Product Officer Chris Cox continues overseeing broader product strategy.

The next major release is expected to be an image-and-video model code-named Mango, scheduled for launch later this year.

Despite the progress, Meta still trails the industry’s biggest AI players.

Many developers remain focused on OpenAI, Anthropic, and Google, while some analysts question whether Meta can reclaim leadership. Benchmark results published by Meta appear competitive but generally do not surpass rivals across every category.

The company also continues to face skepticism after past criticism over how certain AI benchmark results were presented.

The financial stakes are enormous.

Meta plans to spend between $115 billion and $135 billion this year, nearly double the approximately $72 billion spent last year. Most of that money is being directed toward data centers, Nvidia chips, and AI infrastructure.

More than $100 billion in new AI-related commitments were reportedly added during the first quarter alone.

Investors remain cautious.

Meta shares are down roughly 7% in 2026, making them one of the weaker performers among major technology companies despite strong advertising results. The company reported $56.3 billion in first-quarter revenue after generating approximately $201 billion during 2025.

Even bullish analysts have tempered expectations. Wells Fargo analyst Ken Gawrelski maintained a positive outlook but reduced his price target from $795 to $754, citing concerns about the time required for AI investments to generate meaningful returns.

The pressure is also being felt inside the company.

Meta cut approximately 8,000 jobs in May, representing about 10% of its workforce, bringing total reductions since 2022 to roughly 25,000 positions. At the same time, top AI recruits reportedly received compensation packages approaching $100 million, while median employee compensation declined.

The contrast has fueled concerns among some employees about morale and the company’s direction.

Zuckerberg’s defense is that Meta has faced similar moments before.

The company was late to mobile computing and online video but eventually became a dominant player in both markets after years of aggressive investment.

His latest wager is that Muse Spark can become the foundation for AI systems capable of acting on behalf of users — making purchases, booking travel, and handling everyday tasks with minimal human involvement.

Whether that vision becomes a major new revenue stream or simply an extraordinarily expensive effort to catch up with competitors may be the defining question for Meta during the remainder of 2026.

Technology — JBizNews Desk

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New York Knicks fans are making up for lost time.

The Knicks won their first NBA championship in 53 years on Saturday night after years of hope, heartbreak, and facepalms.

But the wait was well worth it, and fans are making sure this year’s run is remembered forever. 

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Knicks championship gear broke Fanatics’ record for the most sold by any title winner in the four major sports within 24 hours, surpassing last year’s Philadelphia Eagles. They are also on pace to become the company’s top-selling overall sports champion ever, which would eclipse the previous best Chicago Cubs in 2016.

Fanatics took in more than 8,000 orders per minute after the clinch, a new company record.

The Knicks have already more than doubled the sales of the company’s previous best-selling NBA Finals champion, the Los Angeles Lakers in 2020. 

KNICKS STAR JALEN BRUNSON’S SISTER DUNKS ON CRITICS AS NEW YORK WINS NBA CHAMPIONSHIP

New York took down the San Antonio Spurs in five games, overcoming double-digits in each victory. In fact, the Knicks spent more time trailing by double digits (over 62 minutes) than actually leading (roughly 56 minutes) in the series.

The title run warranted Game 3 becoming the most expensive secondary-market sporting event on record, with the get in price over five figures.

New York won 15 of its final 16 games to win the championship, including 13 consecutive at a point. The streak was snapped in that Game 3 contest, and they almost lost two in a row for the first time since the first round, but they stormed back from 29 points down to complete the largest comeback in NBA Finals history.

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The Knicks will celebrate their title with their official championship parade on Thursday morning – although Jose Alvarado was already a part of the Puerto Rican Day Parade with NYC Mayor Zohran Mamdani.

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NEW YORK — SpaceX confirmed Friday that it had completed the largest stock-market debut in history, selling 555.6 million shares at $135 apiece to raise about $75 billion and listing on the Nasdaq under the ticker SPCX. The company’s filing with the Securities and Exchange Commission valued it near $1.77 trillion, instantly making it the sixth-largest public company in the United States.

But the sheer size of the deal did something Wall Street is still working through: it forced investors to sell other holdings to pay for it, tightening the supply of money available for every other stock.

The math is blunt. A $75 billion sale has to be paid for with $75 billion in real cash, and most of that cash was already parked inside other companies’ shares. To buy SpaceX, large funds and everyday investors had to sell something else first. That selling spread across the market in the days around the listing, and it arrived on top of an even larger pull on the world’s money — the race to build artificial intelligence.

That race has become the single biggest draw on cash anywhere.

Morgan Stanley estimates technology companies will spend about $740 billion building AI this year alone, a 69% jump from 2025, and expects the global total to climb toward $3 trillion over the next several years. Roughly half of that will have to be borrowed or raised rather than paid for out of profits. The bank expects AI-linked borrowing to approach $570 billion in 2026.

That is where the strain on banks starts to show.

For years, companies such as Microsoft, Amazon, Alphabet, and Meta funded their data centers and computing infrastructure largely through operating cash flow. Now costs are rising faster than earnings, pushing companies toward loans and bond offerings. The Bank for International Settlements warned in January that the AI boom is increasingly being financed through debt, with private lenders taking a growing share of the market.

The SpaceX offering put that pressure on display.

Five banks — Goldman Sachs, Morgan Stanley, Bank of America, Citigroup, and JPMorgan Chase — led the deal and collected roughly 85% of underwriting fees, with Goldman and Morgan Stanley each earning about $100 million. A syndicate of 21 banks backed the transaction.

The same institutions are expected to lead the next wave of mega-listings.

And that wave is enormous.

SpaceX, which acquired Elon Musk’s AI company xAI earlier this year, is only the first of three major offerings. Anthropic, maker of the Claude chatbot, confidentially filed for an IPO on June 1, while OpenAI, creator of ChatGPT, followed on June 8.

Together, the three companies carry an estimated combined valuation of $3.6 trillion — larger than the total value of all companies that went public during 2021, the busiest IPO year on record.

Each offering will require fresh capital from the same pool of investors.

There are already signs of how interconnected the AI ecosystem has become. SpaceX disclosed that much of its newly raised capital will be directed toward AI computing infrastructure and that it has agreed to lease computing capacity to Anthropic for approximately $1.25 billion per month through 2029.

In other words, money raised in one AI offering is already flowing directly into the operating costs of another.

Retail investors showed little hesitation.

SpaceX became the most-purchased stock among individual investors on Friday, with demand reportedly exceeding available shares by more than ten-to-one.

But that enthusiasm comes with risk.

Ethan Feller, a strategist at Zacks Investment Research, warned that the biggest threat is not any single valuation, but what happens if investor appetite for AI suddenly fades.

If capital stops flowing into the sector, prices could decline sharply across multiple companies at once.

The connection is also closer to home than many investors realize. While most Americans cannot buy Anthropic or OpenAI shares at IPO prices, millions already own indirect stakes through retirement accounts that hold Amazon, Alphabet, and Microsoft, all of which are major investors in leading AI firms.

For now, SpaceX’s record-setting debut has opened the door for the offerings behind it.

The question for the remainder of 2026 is whether investors still have the cash — and the appetite — to absorb OpenAI and Anthropic when their turn arrives.

Wall Street — JBizNews Desk

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Mass Russian attacks killed at least 11 people and damaged one of the holiest sites in Eastern Orthodoxy, on a night of devastating damage to Ukrainian culture.

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Consumer prices climbed at their fastest annual pace in three years last month, the Bureau of Labor Statistics reported Wednesday, June 10, with the spike driven almost entirely by what Americans pay at the gas pump. The Consumer Price Index rose 0.5% in May and was up 4.2% over the past 12 months — the highest annual reading since April 2023.

The headline number looks alarming, but the source is narrow. The energy index jumped 3.9% in May and accounted for more than 60% of the entire monthly increase, following gains of 3.8% in April and 10.9% in March — a three-month surge tied directly to the Iran war’s disruption of Middle Eastern oil supplies. Gasoline alone rose 7% in a single month and is up 40.5% from a year ago.

Strip out food and energy, and the picture is calmer. So-called core inflation rose just 0.2% on the month and 2.9% over the year, with the monthly gain coming in below forecasts and below April’s pace. That gap — a hot headline number and a mild core — is the central tension facing the Federal Reserve as it meets this week.

The everyday squeeze is real where families feel it most. Electricity prices rose 0.6% in May and are up 5.9% over the year. Shelter, the single biggest piece of the index, rose 0.3% and is up 3.4% annually, while food increased 0.2%.

New-vehicle prices slipped 0.3%, used cars rose 0.1%, airline fares increased 2.7%, and motor vehicle insurance fell 1.7%.

That mix matters. The fact that transportation services and other core categories stayed tame suggests high fuel costs have not yet spread broadly through the economy. Economists framed it as a pocketbook problem more than a runaway inflation problem — at least for now.

The worry among forecasters is second-round effects. Sustained high energy costs eventually raise the price of anything that needs to be transported, heated, or powered. So far that spillover has been limited, but it is exactly what the Fed is watching.

For the Fed, the report cuts against any near-term rate cut. After the data landed, futures markets leaned toward holding rates steady and even increased the odds of a hike later this year.

The bottom line for households: the basics cost more, the increase is concentrated in fuel, and whether it spreads depends largely on a war thousands of miles away. The next inflation report will reveal whether May was a spike or the start of something more persistent.

JBizNews Desk — Economy

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President Donald Trump said Saturday in a Truth Social post that he will appoint James M. McDonald as U.S. Attorney for the Southern District of New York, the federal prosecutor’s office that oversees many of the nation’s most significant Wall Street investigations and financial-crime cases.

McDonald is a longtime white-collar attorney who served on Trump’s legal team in his New York hush money case, and he is now poised to take over one of the most influential law-enforcement positions in the country.

The appointment fills a vacancy Trump created earlier this month. McDonald would succeed Jay Clayton, the current U.S. Attorney for the Southern District of New York and former chairman of the Securities and Exchange Commission, whom Trump nominated on June 11 to serve as Director of National Intelligence. Clayton is expected to remain in the role until his Senate confirmation process is completed.

The Southern District of New York, often referred to as “Wall Street’s top cop,” holds jurisdiction over Manhattan, the center of American finance. The office regularly handles major securities-fraud investigations, insider-trading cases, public-corruption prosecutions, terrorism matters, and complex financial crimes.

Whoever leads the office has significant influence over how aggressively federal prosecutors pursue misconduct in the financial markets.

McDonald’s background makes him an unusual choice for the position.

He is currently a litigation partner at Sullivan & Cromwell LLP, one of the country’s most prominent law firms and the same firm where Clayton worked before entering government service.

Before returning to private practice, McDonald served nearly four years as Director of Enforcement at the Commodity Futures Trading Commission (CFTC), where he oversaw investigations involving derivatives markets, commodities trading, and digital assets. Earlier in his career, he spent three years as an Assistant U.S. Attorney in the Southern District of New York, giving him firsthand experience inside the office he is now expected to lead.

McDonald also worked in the White House Counsel’s Office during the administration of President George W. Bush and previously clerked for Chief Justice John Roberts of the U.S. Supreme Court.

His enforcement résumé is especially notable because of its connection to cryptocurrency.

During his tenure at the CFTC, McDonald oversaw several high-profile cryptocurrency enforcement actions as regulators struggled to define the rules governing emerging digital-asset markets.

After returning to private practice, he advised clients navigating regulatory scrutiny in the crypto sector, including work involving BlockFi, the failed cryptocurrency lender. His firm also represented the bankruptcy estate of FTX, one of the largest collapses in financial-market history.

That experience may become increasingly important.

Congress has yet to pass comprehensive cryptocurrency legislation, leaving much of the regulatory landscape shaped by enforcement actions rather than clear statutory rules. The Southern District of New York has been at the center of many of the nation’s largest crypto-related prosecutions.

McDonald’s combination of regulatory, prosecutorial, and defense experience gives him a unique perspective on how those cases are likely to be handled.

His private-sector practice extends beyond digital assets.

McDonald helped represent Indian billionaire Gautam Adani, whose fraud and conspiracy case was dropped by the Justice Department earlier this year, and he also worked on matters involving Live Nation as the company fought antitrust challenges.

Most prominently, he served on the legal team representing Trump during the appeal of the former president’s New York criminal conviction.

That connection is likely to draw scrutiny.

The Southern District has long maintained a reputation for independence from political influence, regardless of which party controls the White House. Critics are expected to question whether appointing a former personal defense attorney to lead the office could create concerns about independence or perceived conflicts of interest.

Supporters argue McDonald’s extensive prosecutorial and regulatory background distinguishes him from purely political appointments and provides the experience necessary to run one of the country’s most demanding federal prosecutor’s offices.

Trump praised the selection in his announcement.

“I am confident that Jamie will deliver strong results for our Country,” the president wrote, predicting McDonald would earn the respect of judges, prosecutors, law-enforcement officials, and the legal community.

The office itself responded positively.

“The Office welcomes the President’s choice to lead the SDNY. Mr. McDonald is widely respected,” a spokesman for the Manhattan U.S. Attorney’s Office said.

Unlike many political appointees who arrive with limited prosecutorial experience, McDonald enters the role with experience as a federal prosecutor, senior regulator, and private-sector litigator.

For Wall Street, the broader business takeaway is straightforward.

The individual about to oversee the nation’s most influential financial-crimes prosecutor’s office has spent years enforcing market regulations, advising major corporations, and defending clients accused of violating those same rules.

The decisions he makes regarding securities fraud, corporate misconduct, cryptocurrency enforcement, and market manipulation will help shape the regulatory climate for the financial institutions headquartered in Manhattan for years to come.

JBizNews Desk — New York

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The Federal Reserve opens a two-day policy meeting Tuesday that ends Wednesday, June 17, with a rate decision, and it doubles as the first real test of new Chair Kevin Warsh, who was sworn in as the 17th chair of the central bank in May. Markets widely expect the Fed to leave its benchmark rate parked at 3.50%–3.75%, where it has sat since December. The drama isn’t the rate. It’s everything Warsh says and does around it.

Traders are pricing in better than a 98% chance of no move, according to CME FedWatch data. What’s changed is the direction of the next step. Fed funds futures now lean toward a rate hike, not a cut, as the more likely year-end outcome — a sharp reversal from the easing path investors expected just months ago. Stubborn inflation, fueled by the Iran war’s hit to energy prices, has frozen the Fed in place.

To see how far the mood has shifted, look back a year. In June 2025, the Fed’s own projections pointed to 75 basis points of rate cuts by the end of 2026. Those cuts have effectively been shelved. The March 2026 projections lifted the core inflation forecast to 2.7%, the May reading came in hotter still, and the labor market is holding firm with unemployment near 4.4%.

The bigger question is whether Warsh blows up one of the Fed’s most-watched tools. Warsh has long criticized forward guidance, and reporting indicates he may begin rolling it back as soon as this meeting — potentially dropping the dot plot rate forecast and stripping easing-or-tightening bias language from the statement. The dot plot, released quarterly, shows where each official thinks rates should go. It lands Wednesday alongside a fresh Summary of Economic Projections and Warsh’s first press conference, his first big platform to set the tone of his chairmanship.

Wall Street strategists see continuity on rates and a shift in tone. “The Kevin Warsh era has begun,” said Phil Camporeale, Chief Investment Strategist at J.P. Morgan Wealth Management, who expects the Fed on hold through year-end with a likely move away from an easing bias toward a neutral stance.

Warsh inherits a divided house. Minutes from the prior meeting showed four dissenting votes, the most since 1992, and a committee split over how the Iran war should shape policy. A faction wants to guard against energy-driven inflation; others worry a slowing job market needs relief. Former Chair Jerome Powell has agreed to remain on the board, a move meant to steady the transition.

For everyday Americans, the stakes are concrete. A hold keeps borrowing costs high. The 30-year mortgage has hovered near 6.5%, credit-card and auto-loan rates remain elevated, and savers earning yield on cash will keep it a while longer. With inflation back at a three-year high, the case for cheaper money has weakened sharply.

The timing is loaded. The May Consumer Price Index and Producer Price Index both landed in the committee’s deliberation window last week, and May retail sales hit the wire Wednesday morning, the same day as the decision. So the Fed’s statement will be read against fresh data on how Americans are spending. If shoppers are still opening their wallets while prices climb, that complicates any argument for cuts.

The market reaction may hinge less on the number and more on the messaging. A dot plot that erases the lone remaining 2026 cut would read as hawkish; a missing dot plot entirely would be a structural change in how the Fed talks to markets. Either way, investors will parse Warsh’s words for whether the next move is up, down, or a long pause.

The trickiest part of the backdrop is the combination policymakers fear most: high inflation paired with slowing growth, the mix known as stagflation, which leaves the Fed without a clean option. Cutting risks fueling prices; hiking risks choking a softening economy.

For now, the most likely outcome is the least dramatic one on paper: no change, again. But under a new chair determined to run a leaner, quieter Fed, “no change” may come with the biggest communication shake-up in years — and that’s what will move mortgages, markets, and Main Street in the months ahead.

JBizNews Desk — Economy

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Russia said on Monday that it did not strike the historic Pechersk Lavra monastery in Kyiv in an overnight attack on military factories in the Ukrainian capital and that a US-made Patriot air defense missile had damaged the religious site.

Russia’s Defense Ministry said that the Patriot missile, which it said had damaged the monastery, could have misfired because it said Western countries had provided Kyiv with arms whose shelf life had expired.

“The armed forces of the Russian Federation do not plan or carry out strikes against civilian infrastructure,” the Russian Defense Ministry said in a statement.

“According to confirmed reports, the complex of buildings at the Kyiv-Pechersk Lavra was struck by a missile from the American Patriot air defense system. One possible reason for the malfunction of this system could be that Western countries supplied the Kyiv regime with missiles that had expired,” it said.

The UNESCO World Heritage monastery caught fire overnight on Monday in the heaviest Russian air attack on the Ukrainian capital in two weeks. Moscow said its attack had targeted and struck drone manufacturing facilities, while Ukraine and many Western countries accused Russia of striking the monastery.

Ukrainian, world leaders condemn strike

Ukrainian President Volodymyr Zelensky said in a Monday post to X/Twitter that the act constituted an “attack on the Christian community and on the cultural heritage of humanity.”

“There can be no justification for this or for any other similar Russian attacks, he said, calling on the international community to join together to “stop Russia’s war and stronger protection to save lives from Russia.”

“A brutal assault on our people and our heritage. This is the true face of Russia’s Orthodox values,” Ukrainian Prime Minister Yulia Svyrydenko said on X.

Metropolitan Epifaniy, head of the Orthodox Church of Ukraine, also took to X to condemn the act.

“What more must the Kremlin Antichrist do for the world to realize that decisive action must be taken so that the Russian terror against Ukraine and the very principles of peace come to an end?” he said.

French FM compares strike to bombing Notre Dame

France condemned the strikes, with French Foreign Minister Jean-Noel Barrot describing the attack on the Kyiv Pechersk Lavra monastery as akin to bombing Paris’ Notre Dame.

“This is a UNESCO world heritage site, which is the equivalent, for us in France, as if Notre Dame or Saint Denis had been bombed, which is totally unacceptable,” said Barrot, as he arrived for a meeting of European Union foreign ministers.

French President Emmanuel Macron called the attack on the monastery “unjustified” on Monday, adding that France would continue to work for a ceasefire in the war in Ukraine at the G7 meeting.

“This attack only justifies our determination to do everything we can, along with our allies and partners, to work towards a ceasefire and then for a peace deal, which Russia is stubbornly refusing. We will work on this at the G7 in Evian,” Macron wrote on X.

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As Google CEO Sundar Pichai took the stage Sunday at Stanford’s commencement, scores of graduates stood, booed and walked out, turning a celebration for nearly 6,000 degree recipients into a protest over the tech giant’s work with Israel.

Pichai, a Stanford alumnus leading one of the world’s most powerful companies, appeared unfazed. His speech largely avoided the artificial intelligence debate that has shadowed other tech-heavy commencement addresses this season, instead offering graduates a familiar message about optimism, hard choices and pursuing work that excites them.

Sunday morning began as a typical Stanford celebration, with thousands of onlookers braving the late spring sun beneath a cloudless sky. Graduates walked in riding inflatable horses, wearing cardboard mock-ups of Lightning McQueen and Caltrain or, in the case of a few male graduates, only Stanford-red briefs and sunglasses beneath their graduation gowns.
It was all part of Wacky Walk, the decades-long Stanford tradition in which graduates wear costumes on their way to their commencement seats.

But the ceremony became a site of protest as Pichai prepared to take the stage.

“Sundar himself has modeled thoughtfulness, humility and determination in leadership and in making decisions of consequence to Google into the world,” Stanford President Jonathan Levin said as he introduced him.
Pichai earned a master’s degree in materials science and engineering from Stanford in 1995 before joining Google in 2004, where he played a key role in the development of Google Chrome. He later became CEO of Google and its parent company, Alphabet.

Even as Levin welcomed the CEO of “one of the most innovative companies in the world,” many students responded by booing. When Pichai took the stage, scores of students stood and walked out of the stadium, some chanting or booing as they left. The vast majority of students remained seated.

“What I see in front of me is how graduation should be,” Pichai said toward the beginning of his speech, even as students chanted “free, free Palestine” while they marched out. “Graduates celebrating together with the people you love who have supported you on your journey.”

Why did the students walk out on their own graduation?

The protest centered in part on Project Nimbus, a $1.2 billion cloud-computing contract involving Google, Amazon and the Israeli government that has drawn criticism from students, activists and tech workers opposed to Israel’s military campaign in Gaza.

The moment also came after a string of commencement speeches by tech leaders and AI boosters who have used graduation stages to promote AI, often drawing pushback from students. Former Google CEO Eric Schmidt was met with boos when he began talking about the rise of AI at the University of Arizona.

Pichai acknowledged the AI controversy while mostly sidestepping it.

“People have been giving me a lot of advice … about what not to say,” Pichai said, hinting that it was the “last two letters of my last name.”

But, he added, “the most timeless advice I’ve learned is technology agnostic.”

The speech itself offered the kind of hopeful, broad advice common to graduation ceremonies: every decision will not be life-changing, but some choices matter and graduates should recognize them when they come.

“You’re going to face a lot of moments in your life, only a few of them are really important, and you need to get them right,” Pichai said.

Drawing from his own life and career, Pichai told graduates that making the right choices could be distilled into three ideas: “choosing optimism,” “when you have the choice to work on something hard, say yes” and “when all else is equal, do what excites you.”

Anti-Israel activism on campus

Elsewhere on campus, many of those who walked out gathered for a “People’s Commencement” held in protest. They assembled around a small stage under the shade of oak trees, surrounded by banners declaring “PALESTINE WILL BE FREE” as speakers played Marvin Gaye and Nina Simone.

“The people here have worked so hard to achieve this, and we want to celebrate the radical possibility of education … rather than listen to an advertisement by Stanford and its corporate benefactors,” said Eva Jones, who had just graduated with a master’s degree and helped with the event.

The protest followed more than a year of campus activism around the war in Gaza and demands that Stanford divest from entities supporting Israel’s military action there.

In 2024, 13 people were arrested during a sit-in at the university’s administrative offices, and Santa Clara County District Attorney Jeff Rosen filed felony vandalism charges against 12. The case ended with a deadlocked jury, and a judge later disqualified Rosen from retrying it.

Last year, more than a dozen students and faculty members participated in a hunger strike for divestment. Stanford also became one of 60 universities under investigation by the U.S. Department of Education for antisemitic discrimination and harassment following the protests.

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A French-Israeli businessperson has bought eight apartments in the RAYK Borochov project in Kiryat Yovel in Jerusalem for NIS 24 million. The average price per apartment was NIS 3 million and the average price per square meter was NIS 34,000. All the apartments were purchased for investment.

The apartments purchased include four three-room apartments, each about 74 square meters in size, plus 9 square meters of balconies, parking and storage, at an average price of NIS 2.75 million per apartment, and four four-room apartments, each 96 square meters in size, plus a 12 square meter balcony, parking and storage, at an average price of NIS 3.33 million per apartment. The apartments are on floors 2-12 out of the tower’s 27 floors.

In recent years, prices for foreign residents have increased considerably due to the strengthening of the shekel. In the last three years, the shekel has strengthened by 20% against the dollar, and by 15% against the euro.

RAYK Borochov is at 49-53 Borochov Street in Kiryat Yovel and is being developed by Aspen Group unit Rayk Real Estate Group. As part of the project, four buildings will be demolished and replaced by 9 and 27 floor buildings with 190 units, a commercial frontage and underground car park..

The mix of apartments includes two to six-room apartments, and the project will also include shared facilities for tenants. The current deal is part of a broader marketing effort that has seen the company sell 25 apartments over the past two months.

According to the developers, the deals were signed at an average price of NIS 34,000 per square meter, which reflects a discount of about 3.5% on marketing prices. The buyer received benefits, including a credit of NIS 10,000 per apartment for upgrades, exemption from inflation-linked indexation, and exemption from lawyer’s fees.

Overall the deals carried out are 7%-8% lower than average prices in the market in the immediate area. The company makes savings in marketing and sales costs.

According to the Yad2 website, rental prices for new 3-room apartments in the neighborhood are around NIS 7,000 per month and rental prices for 4-room apartments are around NIS 8,500 per month, which is a potential annual return of 3%, which is significantly higher than the average return in the city, which is around 2%. These returns will only be realized when the project is occupied in about three years.

Investing early in the area 

RAYK Real Estate CEO Yossi Rayk says, “The current deal reflects a broader phenomenon that we have identified in recent months, which is the increased entry of private capital (local and international) into the Jerusalem residential market, with the understanding that the city currently presents high resilience and real improvement potential.

“Investors are looking for properties that embody an ‘accessibility premium’ with proximity to the light rail lines, and an urban specification that guarantees a competitive advantage in the future rental market.

Kiryat Yoval is at a turning point where the old housing supply is being replaced by modern buildings, which create price arbitrage in favor of buyers in the early stages. The rental market in the neighborhood is changing architecturally and demographically, and demand from a high-quality, student clientele creates exceptional cash flow stability compared with alternatives in the center of the country.

“The centers of renewal in Jerusalem are now a clear target for those looking for value for their money.”

Real estate appraiser Kobi Bir says, “Exemption from linkage and a discount in the form of exemption from lawyer’s fees, about NIS 5,000 per apartment, have been given for a long time by many contractors in Israel, due to the halt in sales because of the war, and now also because of the weakening of the dollar, which prevents foreign residents, mainly from the US, from purchasing apartments.”

“A price of NIS 34,000 per square meter is at the lower end of apartment prices in renewal projects in the area, and the location of the apartments on the lower floors can actually explain this. If we add to this price the aforementioned discount of 3.5%, we get a value of about NIS 35,200 per square meter, which is what a buyer of an apartment in the project without a discount should pay. Not a high price, but not a bottom price either. It certainly sounds reasonable, but on the low side.”

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State prosecutors filed an indictment Monday against 17 ultra-Orthodox (haredi) men, including four minors, over a violent anti-draft protest in which demonstrators allegedly broke through the locked gate of the chief military police officer’s home in Ashkelon while his family was inside.

The indictment, filed to the Ashkelon Magistrate’s Court, charges the defendants with rioting, trespassing to commit an offense, and malicious damage.

According to the indictment, the incident took place on the evening of April 28, when dozens of haredi protesters gathered outside the home of Brig.-Gen. Yuval Yamin, the IDF’s chief military police officer, to protest the enlistment of yeshiva students.

The protest came as Israel’s haredi draft crisis has moved from the Knesset and the High Court of Justice into the streets, with increasingly aggressive demonstrations against enforcement measures targeting draft evaders. The dispute has intensified since the High Court ruled that the state no longer has legal authority to grant sweeping exemptions to haredi yeshiva students, as soldiers and reservists continue to serve under the burden of the ongoing war.

The indictment says protesters carried signs reading, “War on the draft law, in actions and not words,” and shouted slogans including “We will die and not enlist” and “Yuval Yamin is a traitor.”

Shortly after the protest began, at around 8 p.m., some of the protesters allegedly broke open the locked entrance gate and entered the yard. Yamin was not described in the indictment as being inside the home at the time, but his wife and two of his children were there, including one minor.

The protesters caused thousands of shekels in damages

Dozens of protesters, including the defendants, allegedly spread through the yard, porch, and entrance stairs. Some sat or stood while holding hands, while others sang protest songs, waved signs, and shouted against Yamin and the IDF, according to the indictment.

The family, prosecutors said, was effectively trapped inside the house, unable to leave safely, while more protesters crowded the entrance from the street.

As a result, Yamin’s family members felt they were in danger and feared physical harm, the indictment says. They closed the shutters, locked the front door, and called the police. Neighbors also reported the incident, and police forces who arrived at the scene ended the riot and arrested the defendants.

Prosecutors said the incident caused thousands of shekels in damage, including to the gate’s locking mechanism, parts of the wall, porch tiles, and nearby plants.

The state also filed a request to set conditions for the defendants’ release, including measures meant to ensure that they appear for future court proceedings. The case was investigated by the Ashkelon police station. Prosecutors also notified the court that if the defendants are convicted, the state may ask that they receive actual prison time.

The indictment follows a broader escalation in extremist haredi anti-draft protests. Earlier this month, dozens of haredi protesters rioted outside the home of Deputy Supreme Court President Noam Sohlberg in Alon Shvut, damaging his home and car, as part of protests against enforcement of draft orders. More than 60 suspects were detained in that incident, and prosecutors have since filed indictments against four men from Beit Shemesh.

That incident was viewed as especially severe because it targeted a sitting Supreme Court justice at his private home. The Courts Administration said at the time that attempts to intimidate judges would not affect their work.

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Shippers said confidence in resuming transit through the Strait of Hormuz could take weeks to rebuild, and navigation will only restart once safety is assured, after US and Iran officials said they had agreed on a framework deal to reopen the waterway.

The US and Iran are expected to sign a memorandum of understanding to end their war, halt the US blockade of Iran, and reopen the Strait on Friday. Global oil prices fell about 4% on Monday in response.

Shippers have welcomed the news of the deal but are still waiting for more details, including mine clearance in the strait.

“The market is clearly pricing in a return to business as usual, but after months of disruption, (ship) owners and charterers alike will likely remain cautious until ships are consistently moving freely through Hormuz once again,” analysts at Sentosa Ship Brokers said in a note.

The US-Israeli war with Iran that began on February 28 has largely stopped shipping through the strait, the transit route for roughly a fifth of the world’s oil and liquefied natural gas supply, along with vital products such as aluminum and urea.

While traffic along the Strait of Hormuz remains limited, India’s Petronet sent the LNG tanker Disha through the strait on Monday, the only visible shipment so far, according to data from Kpler and LSEG.

The tanker picked up its cargo at Qatar’s Ras Laffan on March 1-2 and had been west of the strait since, with the Dahej terminal in India its eventual destination, according to the data.

Petronet did not respond to a Reuters request for comment.

Over 100 tankers still stuck inside gulf

An estimated 155 tankers, carrying oil and chemicals, were in the Mideast Gulf area as of June 15, shiptracking data from Kpler showed, down from 201 tankers at the end of May.

Oil Brokerage’s estimate stood at 215 tankers.

“We expect free passages will have to be built over the weeks for the wider shipping community to gain confidence,” said Anoop Singh, Oil Brokerage’s global head of shipping research.

“Till such time, physical freight rates will likely remain elevated, and trading will remain slow.”

However, under unrestricted navigation, the traffic pile-up on either side can be resolved within 8-10 days, according to OB’s calculations, Singh said.

“Furthermore, ship owners have positioned nearly 60 more VLCCs (Very Large Crude Carriers) than usual within a few days of sailing to the ports West of Hormuz, in anticipation.”

Concrete information awaited 

A spokesperson for the Japanese Shipowners’ Association said on Monday that while the group welcomed the peace agreement, it wanted to “wait a little longer for more concrete information” when the US-Iran pact is signed on June 19.

There had been news reports that mines had been laid in the area, the spokesperson said, adding: “Given the situation, we cannot simply say, ‘Right then, let’s go’ based on news of the agreement alone.”

Nippon Yusen, the country’s biggest shipper, said it hoped operations would return to normal as soon as possible, but a spokesperson added it was too early to comment on the schedules of Japan-linked vessels stranded in the Gulf.

He declined to say how many of the company’s ships remain in the Gulf.

A Mitsui Lines spokesperson said: “While we are aware of signs of progress towards a ceasefire, our policy remains unchanged; we will only resume navigation once safety has been fully confirmed.”

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At least 28 people were killed when a bus plunged into a ravine in Ethiopia’s Amhara region, regional state-run Amhara Media Corporation reported on Monday, citing police.

The bus was traveling from Dessie to the capital, Addis Ababa, when the crash occurred, the broadcaster said.

“So far, 28 people have lost their lives, while many others have sustained minor and serious injuries,” it quoted police as saying.

Deadly road accidents are common in Ethiopia, where driving standards are often poor, and many vehicles are badly maintained. In 2024, at least 71 people died in the southern Sidama region after a truck plunged into a river.

This is a developing story.

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Some 55% of the public in Israel defines polarization and internal conflict as the most dangerous threat to the state’s continued existence, according to a new annual report on the state of Israeli society for 2026 published by the Jewish People Policy Institute (JPPI).

According to the report, which is based on the institute’s surveys and analyses over the past year, Israelis are most worried about internal polarization and the danger of civil war.

The study revealed that the majority of the public in Israel sees internal polarization and disagreement as the most dangerous threat to the country’s continued existence, surpassing by a huge margin the threat of an Iranian nuclear bomb, at 23%, or the conflict with the Palestinians, at 18%.

Six in 10 Israelis, 60%, agree that there is currently a real danger of bloodshed and physical violence inside the country, meaning civil war.

Additionally, about half of Israel’s secular Jews, which is the largest group among Israeli Jews, say they are no longer convinced that Israel is the right and safest place for their children and grandchildren to live.

Haredi Jews more apart than ever from Israeli society

While 80% of the public supports drafting the haredim (ultra-Orthodox), haredi resistance remains firm, with 79% of haredim opposing enlistment, even when offered special, separate frameworks tailored to their way of life.

In the closeness index, which measures the feelings of different groups in society toward other groups, the haredi sector received the lowest average closeness score among all population groups, 3.79, with no group on the ideological or religious scale, apart from haredim themselves, giving them a high score.

In a group-by-group breakdown, the secular public rates its closeness to haredim at a particularly low 1.81 out of 10.

Trust in IDF is on the rise, following Iran war

The move to a direct regional campaign, Operation Rising Lion, and the change in IDF chiefs of staff boosted public trust in the senior IDF command to a record 82%. At the same time, the public is skeptical about the achievements in Gaza, more so than about the conduct of the campaign in Iran and Lebanon.

Most Israelis now estimate that Hamas rule in Gaza will continue in one form or another, and express disappointment that Trump’s plan for Gaza has so far not led to Hamas being disarmed or to significant reconstruction, despite the completion of the ceasefire and the return of the hostages.

The war has pushed the Jewish public to the right. The share of those identifying as “deep right” rose from 11% before the war to 19% today, and nearly half, 49%, of young people who defined themselves as “left close to center” before the war said they had moved to the right.

Most people in the public view the state budget as a political document skewed toward coalition needs, and demand sharp cuts to government ministries, coalition funds, and sectoral budgets directed to the haredi sector.

The eruption of antisemitism around the world is troubling Israelis. For example, at the height of the protest wave on US campuses, 87% of survey participants said they were worried about it.

Half of the public says they recognize that global antisemitism operates as a pincer movement, coming with similar force from both ends of the political spectrum, from the far left and the far right.

The public in Israel believes the solution for world Jewry is aliyah to Israel. Sixty-six percent of Jews in Israel recommend moving to Israel, and 71% of right-wing supporters and 49% of the overall Jewish public in the country would recommend that Diaspora Jews make aliyah under any existential circumstance.

Hope, closeness, agreement in Israeli society

The annual report weighs public attitudes using three permanent deep-measure indices: hope, closeness, and agreement, on a scale of 1 to 10.

The hope index, calculated at 7.13 and the highest of the three, rose from 6.48 the year before, indicating that 60% of Israelis are optimistic about the country’s future.

Seventy-five percent of Israelis assume their family and friends will continue living in Israel, and about two-thirds believe Israel is the right place for their children and grandchildren.

However, the average masks an ideological abyss. While supporters of the political right show a particularly high hope score of 9.05, among supporters of the left, the index plunges to just 3.67, an unprecedented gap that indicates polarized worldviews regarding the same existential space.

The closeness index, calculated at 5.51, showed a worrying decline from the previous year’s 5.95, indicating a deepening of polarization between parts of society.

The report states clearly that the main factor currently preventing Israelis from feeling close to one another is not nationality, ethnicity, or origin, but belonging to an opposing political camp, right versus left.

Political polarization breaks everything: Left-wing supporters rate their closeness to right-wing supporters at just 1.25, while right-wing supporters rate their closeness to the left at 3.48.

The agreement index had a score of 3.71, indicating a slight increase compared with 2024, when it stood at 2.88. The Israeli public does show relative agreement on basic democratic issues, with 59% agreeing that democracy is a combination of majority rule and the protection of human rights.

But the findings show that among Jews, there has been a decline in agreement with the idea that democracy means both elements together, compared with three years ago, 63% this year versus 80% three years ago.

Seventy-eight percent of Israelis agree with the Declaration of Independence’s statement on the need for complete social and political equality of rights for all citizens of Israel, regardless of religion, race, or sex.

However, on issues touching on the state’s identity, the Jewish character of the state, and the solution to the Palestinian conflict, national agreement falls to just 31%. For example, 36% of Jews think Israel is not Jewish enough, while 42% of secular Israelis think it is too Jewish. In other words, only a minority thinks the state’s level of Jewishness is just right.

As for the conflict with the Palestinians, a record 49% of Jews support strengthening control in the territories and expanding settlements, while 66% of Arabs support a two-state solution.

JPPI President Prof. Yedidia Stern said, “Israeli society does indeed show resilience, determination, and optimism, with the hope index rising, but at the same time it operates as a fractured, polarized society suffering from deep existential anxiety about structural collapse, with the agreement index falling sharply.”

“While supporters of the coalition, many of whom belong to the religious and haredi groups, feel that Israel is strong and has a bright future, a high share of Israelis from the secular public, the largest group among Jews, are struggling with the future and with the place of the next generation. To such an extent that about half of the secular public is not convinced that Israel is the right place for their children and grandchildren to live,” he added.

He also explained how this anxiety is in line with another hard statistic: the Israeli public sees the internal rift as its main and most dangerous enemy. “Our disagreements are mainly emotional, identity-based, and camp-based. These are deep foundations that require a long-term action plan to neutralize the social explosive material. It is possible to cultivate a space of agreement in Israeli society, but it requires a practical action plan aimed at that, and not at defeating the identity-based rival,” he said.

“Public leaders must act by every means possible to place social cohesion in Israel at the top of the national agenda. This is the main issue that should occupy whoever is elected to lead the coalition after the coming elections. That is how he or she will be judged. To that end, efforts should be made to form the broadest possible coalition after the elections, and to push it to set rules of the game for managing disputes through a ‘thin constitution’ that will not seek to decide ideological issues, but rather to establish fairly and efficiently the boundaries of what is allowed and what is forbidden in the political game. Once the rules of the game for managing the Israeli dispute are set and anchored, the collapsing closeness index will change direction toward healing and recovery,” he concluded.

The report is based on analyses of the institute’s monthly Israeli Society Index surveys, as well as additional surveys and analyses conducted to examine specific issues mentioned in the report. The team behind the Israeli Society Index includes the institute’s fellows Shmuel Rosner, Nakh Salpekov, and Yael Levinovsky. Statistical advice was provided by Prof. David Steinberg of Tel Aviv University.

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Elon Musk said on Sunday that his rocket company, SpaceX, could bring in $1 trillion in revenue by 2030, making the statement two days after the company went public, valuing it at over $2 trillion.

“And I would be surprised if revenue is not greater than $1T in 2031,” he wrote on his social media platform X, replying to journalist and financial commentator Jon Erlichman.

SpaceX became the sixth-largest US firm on Friday, cementing Musk’s status as the world’s first trillionaire.

However, the company still makes far less money than similarly valued tech giants like Broadcom and Amazon.com.

In 2025, SpaceX’s revenue jumped to $18.67 billion from $14.02 billion a year earlier, but the company swung to a net loss of $4.94 billion from a profit of $791 million.

Some Wall Street analysts are cautious about the company’s growth.

Goldman had estimated that SpaceX’s revenue would exceed $470 billion in 2030, while Morgan Stanley projected it would reach nearly $330 billion, according to a Wall Street Journal report from earlier this month.

Musk’s road to the trillion dollars

SpaceX opened on Monday with a stock valuation of $160, following the Friday Initial Public Offering (IPO), which valued the company at over the $2 trillion.

While Musk became the world’s first trillionaire only after the IPO, there is a key point in his career that can be marked as the moment when he started aiming towards the trillion: Buying X/Twitter.

Musk bought the social media platform in 2022 for $44 billion, rebranded the company, and eventually launched Grok, an artificial intelligence model that used the platform as its training ground.

To develop Grok, Musk then launched xAI, the AI company that eventually became X’s main company in a merger that valued the combined company at approximately $113 billion.

The subsequent merger with SpaceX valued the company at $250 billion, representing a net gain of $206 billion in valuation relative to the initial $44 billion required to buy Twitter.

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The Defense Ministry announced on Monday that France had blocked select Israeli defense companies from presenting their products at the EUROSATORY exhibition in Paris, despite granting them space at the exhibition, after the companies committed to abide by a discriminatory policy that allowed Israelis to present defensive, but not offensive, weapons.

A video distributed by the ministry showed that, overnight before the launch of the exhibits, French workers had arrived for a special operation to board up certain Israeli companies’ exhibits.

The Jerusalem Post is seeking a French response to why the boarding up was carried out, and why with certain Israeli companies and not others.

According to the ministry, “Overnight, the management of the Eurosatory exhibition boarded up Israeli defense industry pavilions – despite these companies having met the French government’s outrageous demands and displayed solely defensive systems.”

“This is a cynical, discriminatory, and unsurprising move aimed at shutting Israeli technology out of an international exhibition – technology whose quality is proven daily across the Middle East. 

Policy applied discriminatorily and selectively, a ‘disgraceful decision’

The Israel Ministry of Defense will continue driving Israeli defense exports to new global heights, despite French efforts to conceal Israeli technological superiority from the world,” said the ministry.

On June 1, the French government informed the ministry that it was barring Israel’s official participation in the EUROSATORY defense exhibition.

This meant that the government and the ministry were unable to participate in the exhibition or establish a national pavilion.

According to the ministry statement on June 1, “The French decision encompasses: a ban on government representatives attending the exhibition; a ban on opening an Israeli national pavilion; and a restriction limiting Israeli defense industries to displaying air defense products only, with offensive systems explicitly excluded.”

“This policy is applied selectively and discriminatorily relative to other participating nations – in direct violation of the established norms governing international defense exhibition,’ said the ministry.

Despite the ban on the Israeli government and offensive weapons, many Israeli companies were expected to have their own smaller private desks to present defensive weapons.

The ministry said, “This is a disgraceful decision, one that reeks of political and commercial calculation, and regrettably, it comes as no surprise. It fits a deeply troubling pattern in French conduct in recent years – a pattern that has consistently placed France on the wrong side of history.”

Further, the ministry said that France, “is hiding behind a pretense of political justification to exclude Israeli offensive defense systems from an international forum – systems that have proven far superior to their French counterparts, and that have demonstrated exceptional precision and effectiveness against terrorist organizations and regimes threatening not only Israel, but regional and global stability at large.”

Aim to delegitimize through unfair and competitive actions

Israeli sources have said that France’s moves against Israel in the defense field, where other countries have not moved against Israel, are motivated both by delegitimization and by a desire to undermine Jerusalem as a competitor. 

Sources also expect non-democratic countries, some of whom are feared as potential international aggressors, to be able to present offensive weapons, despite Israel’s exclusion.

Recently, Israel canceled a visit by France’s top defense ministry officials to Israel in protest of French policy on Gaza, Lebanon, and Iran.

While France has been critical of Israeli policy on Gaza and Lebanon, and in 2026 also regarding Iran, twice in 2024, France helped shoot down Iranian missiles and drones fired at the Jewish state.

Already feeling the heat, Israeli participation saw a dramatic reduction. Two years ago, 74 Israeli companies participated in Eurosatory, while fewer than 40 registered to take part this year. 

The Israeli defense companies with boarded-up booths were Aeronautics, Marom Dolphin, SmartShooter, Controp, Orbit Communication Systems LTD., Paxis Advanced Ceramic Solutions, Gilat Defense, Source Tactical Gear, and OSG. 

Defense & Tech by the Post understands that Aeronautics, which manufactures various unmanned aerial systems, including loitering munitions, had a clean booth with only clean screens and no models.

Controp, which develops and manufactures long-range electro-optical cameras, representatives of the company wrote on the board blocking their booth, “Controp’s long-range EO cameras defeated Iranian ballistic missiles but lost to French short-sightedness.” Controp President and CEO Yuval Miller wrote on LinkedIn that the boarding up of the Israeli companies at Eurosatory came shortly before a ceasefire between the US and Iran.

“This morning at Eurosatory. French authorities decided to block our booth. It seems that even EO sensors used strictly for air defense are forbidden by the French government. With the US-Iranian ceasefire minutes away, one could wonder whose side are they on?” he wrote.

The large Israeli defense companies – Rafael Advanced Defense Systems, IAI-Israel Aerospace Industries, and Elbit Systems – continued to show off their platforms. D&T understands that the companies are prepared to showcase only defensive systems as required by the French.

Anna Ahronheim contributed to this report.

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Discover how healthcare organizations are moving from early experimentation to broader AI adoption, connecting clinical improvements to financial impact.

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New American Funding (NAF) is ramping up its push into reverse mortgages. It has grown its dedicated reverse division from three loan officers to 85 in the past three years as more senior homeowners look to tap into record levels of housing wealth.

Shannon Robinson, senior vice president of NAF’s reverse division, is building a national sales footprint to capture demand from aging borrowers who seek flexibility in retirement. The ultimate goal, she told HousingWire‘s Reverse Mortgage Daily, is to make home equity a mainstream part of retirement planning, positioning reverse mortgages as a tool for financial independence rather than a last-resort debt solution.

Editor’s note: This interview has been edited for length and clarity.

Sarah Wolak: When you think about reverse-focused companies, NAF hasn’t been part of that conversation until more recently. Can you talk about how you’d characterize the state of the reverse mortgage business today and any trends you’re seeing, whether at NAF or across the industry as a whole?

Shannon Robinson: The state of reverse mortgages in the industry is really being driven by two powerful realities right now. One is that more than 11,000 Americans are turning 65 every day, and homeowners over the age of 60 to 62 years old hold over $15 trillion in housing wealth.

When you just sit there and think about that statement, it’s extremely powerful. So, as active adults are looking for ways to navigate inflation and create financial flexibility, home equity is becoming an increasingly important part of the retirement conversation, and NAF is very much focused on that.

You mentioned that you’re not hearing a lot about NAF until maybe over the past year or so. That’s because NAF took a really strong step into looking into the business and said, as a top 10 independent mortgage banker, we have a suite of products that we offer to our larger organization, and we really need to step into and explore additional options in the way of reverse mortgages.

So, about three years ago, NAF set out to grow this footprint and bring more solutions to our homeowners, especially in this space. Our database is getting older, and there are opportunities that we can offer this group, and so we set out to build a national sales division.

We had a very small division already at NAF. It was Patty Arvielo, our CEO, who said, “We really have got to step into this and take advantage of where we’re seeing this pent-up home equity and where we’re seeing people wanting to age in place.” So, why not set forth and build this out?

Wolak: Were you previously at NAF before the reverse division was created or were you brought on to lead? What was your journey into the space like?

Robinson: I was not at New American Funding up until about three and a half years ago. I joined in January 2023, but I have over 20 years of experience being pretty much exclusively in the reverse mortgage space.

I started in traditional forward lending and was a loan officer assistant, and then there was an opportunity to go and start something new in the reverse space, and so I started at Liberty Home Equity Solutions about 20 years ago, and was there for a good stint. Then I went on to American Advisors Group and was there for probably nine years.

So I wasn’t part of the original build of everything at NAF, but I did start the entire growth of the reverse division nationwide. We took it from three loan officers to 85 loan officers, which is where we stand today.

Wolak: Many of the professionals we talk to in the reverse space have been doing it for a while and have come from the forward lending side. What do you think has kept you in the reverse space?

Robinson: The people. It’s all about the people and the opportunity, and I have been in this industry, like you said, for a long time. There are a lot of us that are veterans in this space, and I think that’s what I love, is that you see people still staying in this decades later that have the same passion for educating and bringing opportunities to referral partners, financial advisers, Realtors, etc.

My opportunity is bringing this to the broader audience of our traditional loan officers. We have over 1,500 retail loan officers here at New American Funding, and another 450 in consumer direct. So what really drew me in — not only to New American Funding and its mission — was the opportunity where we could really educate and lean into our forward lending loan officers, educate them in this and just show how you can really set people up for a successful retirement.

A lot of people look at this and think it’s just a “get-me-out-of-debt” solution, but it really is becoming a part of retirement planning. Being in this space is all about the people I’ve been around, but it’s also an opportunity where I can continue to spread a little bit of education, talk about the opportunity and get rid of some of those myths around this product.

Being in front of these wonderful loan officers here at NAF, that’s what’s kept me going. I could go back into forward lending and do all of that, but I have a mission and a purpose, so I want to continue to talk about this product for years to come.

Wolak: You mentioned the misconceptions around reverse mortgages and the areas where the space could benefit from some education. What do you think the biggest challenges are that older homeowners face? Does NAF have specific offerings for these borrowers?

Robinson: Older homeowners continue to feel the pressure from rising living costs. Health care expenses continue to be on the rise, and then the big concern is people outliving their savings. We’re living longer, medicine is incredible, people are getting healthier, and unfortunately, they are outliving their savings. There are concerns around that.

A reverse mortgage can bridge that gap by allowing homeowners to access a portion of their home equity without making a required monthly mortgage payment. The funds can be used for supplementing their retirement income, covering the unexpected expenses, health care costs, a new roof that needs to be put on the home. A reverse mortgage can just provide that simple peace of mind.

At NAF Reverse, we focus on providing solutions that fit each client’s goals. In addition to the HECM product, we also offer proprietary solutions for homeowners with higher home values and options that help everyone from purchasing a new home to preserving their retirement assets.

We just really stay focused here at NAF on helping homeowners and their families to fully understand their options and determine whether home equity can play a meaningful part in providing a comfortable retirement.

Wolak: You mentioned proprietary loans, which are the “hot products” for many companies. Are they having a big impact at NAF?

Robinson: It’s had a pretty big impact at NAF and I think it’s exciting to see new products enter this space. I will always be a No. 1 fan of the traditional HECM, I mean, there’s nothing like that. But opening up reverse mortgage options expands options for homeowners who don’t fit the traditional guidelines of a HECM.

One thing I’m excited about is that we do offer so many of the proprietary products that don’t fit the traditional guidelines. There are so many that we see in the jumbo markets — you see a lot of larger home equity opportunities that they can tap into, where maybe a HECM couldn’t but these proprietary products can.

The folks that we work with on these products are constantly asking questions: What are we seeing? What are your homeowners telling you? They’re exploring how we can keep having holistic conversations, talking with borrowers about their financial future and offering these types of solutions. So it’s become a big part of our business over the last couple of years.

Wolak: Considering your history of experience in the reverse space and the developments that are happening today, what are you paying attention to when thinking about how the environment is going to look like in the next few years?

Robinson: I believe we will continue to see reverse mortgages become a more mainstream part of retirement planning. I think that as more Americans reach retirement age, financial advisers will look for ways to help preserve clients’ assets.

Home equity will play a much larger role in these conversations, as I said. Financial advisers are there to protect assets under management but are also looking for other solutions. How else can we tap into more income streams? Why not look at the opportunity of using housing wealth?

Obviously, we’re watching product innovation around proprietary. What other products are going to come to the table and open up opportunities for our active adult homeowners? But look at the advancements in technology. My goodness, we’re seeing 10 new things every single day. Look at AI, which plays a prominent role.

Also, we need stronger partnerships with financial professionals and ongoing efforts to educate consumers. We still have to educate and bring this conversation to the table. The more that people can understand their options, the better position they’re going to be in to make an informed decision about their retirement.

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Cryptocurrency punters are confident that the market’s new sensation, Space Exploration Technologies Corp. (NASDAQ:SPCX), will open higher on Monday.

SPCX To Rally?

At the time of writing, Polygon (CRYPTO: POL)-based Polymarket assigned a 92% possibility that SpaceX’s opening share price on Monday is greater than or equal to the closing share price on its IPO debut on Friday.

The odds jumped a whopping 32 percentage points in the last 24 hours,  fueled not only by its blockbuster opening but also by favorable geopolitical developments.

Notably, President Donald Trump confirmed on Sunday that the peace deal with Iran is “complete,” which lifted stock futures and cryptocurrencies and increased the chances of a stronger market open on Monday.

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SpaceX completed the largest initial public offering in history Friday, June 12, and its stock rewarded early buyers, climbing about 19% on its first day of trading on the Nasdaq under the ticker SPCX. Chief Executive Elon Musk rang the opening bell from Texas while SpaceX President and Chief Operating Officer Gwynne Shotwell did the honors at the Nasdaq site in New York.

The numbers were staggering.

SpaceX priced its shares at $135, raised roughly $75 billion, and sold more than 555 million shares, making it the biggest IPO ever. The stock opened at $150, ran as high as $176.52 in intraday trading, then settled to close at $160.95.

That left the company valued at approximately $2.1 trillion, instantly making it one of the most valuable publicly traded companies in the world.

The debut also cemented a personal milestone for Musk. The offering made him the world’s first trillionaire, capping a remarkable journey for a company he once feared would fail.

“I gave SpaceX a less than 10% chance of succeeding at all,” Musk said before the opening bell, reflecting on the company’s early struggles and repeated near-collapse moments.

For Wall Street, the size of the offering and investor demand dominated the conversation.

The IPO was estimated to be roughly four times oversubscribed, with demand reportedly reaching approximately $250 billion. More than 500 million shares changed hands during the first trading session, volume that approached levels last seen during Facebook’s blockbuster public debut in 2012.

One factor that made the offering different from most IPOs was the unusually large allocation to individual investors.

Retail investors typically receive only 5% to 10% of shares offered in major IPOs. SpaceX allocated more than 20% of the offering to retail buyers, allowing ordinary investors broader access than is usually available in deals of this size.

The response was immediate. Retail trading volume in SpaceX reportedly reached approximately $453 million during the first session, putting the company on pace to challenge records previously set by Coinbase and other high-profile technology listings.

Most analysts viewed the debut as a clear success.

The stock produced a healthy first-day gain without the extreme volatility that sometimes accompanies highly anticipated offerings. By the closing bell, SpaceX had already become one of the largest publicly traded companies in America.

Not everyone viewed the performance as extraordinary.

Jay Ritter, one of the nation’s leading IPO experts at the University of Florida, noted that while a 19% gain is impressive, some prediction markets had forecast an even larger first-day surge.

His point highlights the unusual scale of the offering. A typical IPO gaining 19% may be noteworthy. A company raising $75 billion and adding hundreds of billions in market value on day one is something entirely different.

The next chapter may be even more important than the first day.

Analysts are already debating whether the successful launch will open the floodgates for a new generation of public offerings tied to artificial intelligence, advanced computing, and next-generation technology.

Many investors are watching companies such as OpenAI and Anthropic, which are widely viewed as potential future IPO candidates.

A successful SpaceX offering could provide a blueprint for how those companies eventually approach public markets.

The stock itself also carries several unique characteristics that investors will be watching closely.

SpaceX currently has a relatively tight public float, meaning a limited percentage of shares are available for trading. Tight floats can amplify both gains and losses because fewer shares are available to absorb buying or selling pressure.

The company will also become part of numerous index-tracking exchange-traded funds after Nasdaq and Russell accelerated their normal inclusion timelines. As a result, millions of retirement investors may gain indirect exposure to SpaceX through ETFs and 401(k) plans without ever purchasing shares directly.

Another key date sits on the calendar.

SpaceX’s 180-day insider lockup period expires around December, a milestone traders often monitor because it allows insiders and early investors to begin selling larger portions of their holdings.

Meanwhile, the broader space sector already felt the impact of the IPO. Shares of Rocket Lab and several smaller aerospace companies declined as investors rotated capital toward the newly public industry giant.

For now, the verdict is straightforward.

The largest IPO in history delivered a strong first-day return, created the world’s first trillionaire, and generated enormous enthusiasm among institutional and retail investors alike.

The harder challenge begins next week.

Investors will shift their focus from the excitement of the debut to a more difficult question: whether SpaceX can justify a valuation exceeding $2 trillion once the opening-day excitement fades and the company begins life as a publicly traded stock.

JBizNews Desk — Markets

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Israel will not withdraw from southern Lebanon as part of the newly agreed to US-Iran deal despite Iranian demands, an Israeli source told The Jerusalem Post on Monday.

An IDF source also confirmed that if Hezbollah respects the ceasefire, there will not be attacks anywhere in Lebanon.

Prime Minister Benjamin Netanyahu has yet to address the US-Iran deal or the issue of Lebanon, which, according to Pakistani Prime Minister Shehbaz Sharif’s announcement, is included in the deal.

“Both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon,” Sharif stated.

Israel struck in Beirut hours before US-Iran deal reached

Hours before the US-Iran deal was finalized on Sunday, Netanyahu and  Defense Minister Israel Katz instructed the IDF to target the Dahiyeh district of Beirut in response to Hezbollah fire toward Israeli territory.

“Israel will not tolerate fire directed at its territory,” the two said in a joint statement.

According to Axios reporter Barak Ravid, the IDF notified CENTCOM shortly before conducting the strike.

US President Donald Trump spoke to Netanyahu after the strikes, and publicly denounced them on social media.

“This morning’s attacks should not have happened, particularly on a special day when we are so close to a Peace Deal with Iran,” Trump wrote on Truth Social.

Trump added that, while Israel has the right to “defend itself against threats,” the threat it was defending itself against was “very small and meaningless.”

Shir Perets and Maya Zanger-Nadis contributed to this report.

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It’s hard for Jennifer Kucera to escape the past. The nursing home where she says she got scabies, was punched in the face, and was sexually assaulted is just three short blocks away from her current home in Berea, Ohio.

“I didn’t even know what scabies were,” said Kucera, who has spinal muscular atrophy and needs around-the-clock care from Medicaid-funded providers to help her bathe, dress, and otherwise navigate her life. “These are all things that really shouldn’t happen in a place where you’re supposed to be protected.”

Read the rest…

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The request was an emergency. In late March, a woman in Gila County, Arizona, was diagnosed with syphilis, and she was pregnant. She needed an injection of penicillin — if possible, 30 days before delivery — but the bacteria corkscrewing through her body increased her risk of delivering early. Without timely treatment, her pregnancy could end in miscarriage, stillbirth, or infant death, and if the infant survived, the child might live with bone deformities, brain damage, blindness, and deafness, among other complications. 

All of that could be prevented with one of the oldest antibiotics in the book — specifically, an injectable form of penicillin sold under the brand name Bicillin L-A.

It was the only treatment approved in the United States for syphilis during pregnancy, and there’d been a national shortage since July 2025. But Pfizer, the only company that sells it, had a protocol in place for exactly this scenario: an emergency request system “to be used for confirmed congenital and risk of congenital syphilis patients only.”

That was what was unfolding in Gila County — and on Friday, March 27, public health officials submitted a request. Pfizer confirmed receipt the next Monday, according to emails obtained by STAT. But over a week after that, on April 7, the medication still hadn’t arrived.

“What can be done to get bicillin for this patient ASAP? These are the kind of delays that make the emergency request line not a viable option for public health response,” a leader at the National Coalition of STD Directors wrote to a Pfizer representative, stepping in to help secure the drug. 

“Did they submit a medical request form first? I checked with Customer Service and they can’t locate. If we can get this medical request we will get it processed,” the Pfizer representative wrote back that same day.

But by the time this exchange was taking place, it was already too late. “Mom has delivered and we have missed our opportunity to prevent congenital syphilis,” wrote an official at the Arizona Department of Health Services, adding, “Yes, the county completed the medical request form.”

It was the outcome everyone was trying to avert. In February, the National Coalition of STD Directors had asked Pfizer to donate a fraction of its Bicillin L-A reserves to state health departments, so they’d have it on hand as a backstop in case this kind of emergency arose. But Pfizer hadn’t — and in early June, nearly four months after the coalition’s proposal, the company said it was still evaluating the idea of proactively sending out doses. This case in Arizona was a realization of the fears that had spurred the suggestion in the first place.

Continue to STAT+ to read the full story…

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California legislator Jesse Gabriel has made a name for himself with a suite of bills aimed at reducing the health harms of ultra-processed food. So it might seem counterintuitive that inside his office is a pillow shaped like a bag of Skittles, complete with the brand’s iconic upside-down rainbow and a few oversized felt candies peeking through a clear plastic window. 

“It’s an inside joke,” Gabriel explained one recent afternoon over Zoom, speaking from his office in downtown Sacramento. His staff gave him the pillow after he introduced a bill in 2023 that opponents dubbed, inaccurately, the “Skittles ban.” In fact, Skittles remain alive and well since his California Food Safety Act was signed into law, prohibiting the use of four additives (including brominated vegetable oil and potassium bromate) that have been linked to higher risk of cancer, reproductive problems, and other health issues. And the Food and Drug Administration eventually followed California’s lead by taking action on all four additives.

Gabriel was elected to the California State Assembly in 2018, but it’s only in the last few years that he’s emerged as a leader on the national stage in the fight against ultra-processed food. Since the 2023 food additives law, he’s been the force behind another state law banning six artificial food dyes, as well as one establishing the first U.S. legal definition of ultra-processed foods and banning those foods from school meals

Continue to STAT+ to read the full story…

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The CDC’s latest data show autism prevalence is 1 in 31 children in the United States. That is 16% higher than the previous estimate in 2020. It is the kind of number that should change how health systems allocate resources, how pediatricians screen, and how schools plan.

But there is a population this number barely touches: South Asian American families, where an autism diagnosis is still, in many homes, a secret.

Read the rest…

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The legislation being advanced by the coalition that would expand state-funded daycare subsidies for haredi (ultra-Orthodox) draft evaders amounts to “backstabbing” Israelis serving in the military during wartime, Deputy Foreign Minister Sharren Haskel told The Jerusalem Post on Sunday, ahead of the legislation’s expected advancement this week.

“It is absolutely morally wrong. It will reduce Israelis’ motivation to continue serving. It’s really backstabbing them,” Haskel explained.

“You cannot have that. And I will do whatever I can in order to continue to guard the back of those who are serving our country the most,” she told the Post.

The legislation aims to change the eligibility criteria for daycare subsidies, basing it solely on a mother’s income, in a move that critics argue will encourage state subsidies for parents of draft evaders even amid the IDF’s severe manpower shortage.

The bill recently passed its preliminary reading and is expected to be brought for its first reading vote in the Knesset Plenum on Monday. Haskel had voted against it in the preliminary vote despite support from Prime Minister Benjamin Netanyahu’s coalition, of which she is a member.

Haskel was also one of the four coalition lawmakers who voted last week against the preliminary reading of a separate bill that seeks to enshrine Torah study in the country’s Basic Law, and has vowed to continue fighting the legislation’s advancement.  

Haredi proposal seeks to encourage draft evasion

The Basic Law: Torah Study legislation was part of a proposal pushed by haredi parties that seeks to encourage draft evasion and change the status of yeshiva students who do not serve, enabling them to continue receiving state benefits.

The move to enshrine Torah study into the country’s Basic Law would still have sweeping implications on the status of haredim who evade service in the country and would, effectively, equate IDF soldiers to draft evaders.

Explaining why she has voted against the legislation, Haskel said in her interview with the Post that, “we are at war, and when we have a pyramid of priorities, security always has to be on the top priority, and it is a top priority for me.”

“When I sit in a [Knesset] committee, and I hear the representatives of the army saying they are missing almost 17,000 combat soldiers… I understand we have a serious problem,” she added.

Regarding the daycare subsidies bill, Haskel said that it was “unacceptable” to give priority to the ultra-Orthodox community over communities that serve the country and “who are paying a huge price, a huge cost, in defending the people of Israel and in our country.”

“The ones who need to be rewarded in those daycares with those grants are first of all our reservists and the people who are serving, not anyone else,” Haskel added.

The daycare subsidy bill proposes that only the mother’s employment or educational status be considered when determining a daycare center’s subsidy eligibility, without taking the father’s employment status into account. This could further allow children of haredi men who do not serve in the IDF and are unemployed to receive daycare subsidies.

Moving forward with the legislation comes as the High Court of Justice ordered in April that the state take concrete steps to revoke key financial benefits from draft evaders and to move toward criminal enforcement against haredi men who evade military service.

Haredi party leaders have continuously pushed for Netanyahu’s coalition to advance legislation that would not increase haredi enlistment. The IDF has repeatedly warned of an urgent manpower shortage, notably after more than two years of war.

There have also been reports of an agreement between Netanyahu and the haredi parties to push the election date to October 20, rather than hold it in September, as the haredi parties have sought. In return, they reportedly would receive advancement of the Basic Law: Torah Study and the haredi daycare subsidies bill.

The IDF could soon collapse if there is no solution to the manpower shortage

In March, IDF Chief of Staff Lt.-Gen. Eyal Zamir said the IDF could soon collapse if there is no solution to the manpower shortage.

“As much as it depends on me, I will not let them close political deals on the back of our soldiers, the ones who are serving our country the most and are paying the biggest price,” Haskel said, vowing to do what she could in her power to stop the contentious legislation from passing.

When asked if she thought the legislation being advanced would harm polling for Netanyahu’s ruling Likud party in the upcoming elections, Haskel responded that she did not think it would. “I think that, unfortunately, the case is very clear right now in Israel because politics have made such a huge division among the people, and most of the people vote based on one thing.”

She said that past elections became a matter of either “yes” to Netanyahu or “no” to Netanyahu.

“It’s based on personality, not policy, not security, not anything. It’s based on a person,” Haskel added.

“I personally believe that it has to be set aside. We have to talk about policy. We have to talk about security, and I’ll do anything in my power to make sure that that happens.

“During the times of war and after everything that we’ve been through, we have to talk about the economy. We have to talk about the security. We will not be able to survive if we do not speak about the most important issues.”

Haskel is unwilling to join Likud, unlike Foreign Minister Gideon Sa’ar, who has announced that he will do so and currently leads the New Hope-United Right party, of which she is a member.

She described herself as “politically homeless” after being one of the only politicians who has refused to return to the Likud.

Amid reports of a new party emerging on the Right, Haskel told the Post that she would certainly do everything in her power to make sure that she has a “political home on the Right side of the map” ahead of the elections.

“I know my philosophy and the path that I want to take Israel, and it is very much on the right-wing side of the map from a security point of view, from an economic point of view.

“And right now, there’s no one to vote for on the right side of the map,” she added.

“I will either build it or – and I can promise you this – I will be in a party on the right-wing side of the map that can represent exactly my people, the hardworking people, the serving people, the contributing people, to give that option to people like me,” Haskel said.

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US President Donald Trump announced that a US-Iran peace deal has been confirmed in a post on Truth Social on Sunday. 

The deal with the Islamic Republic of Iran is now complete,” Trump stated, adding his “congratulations to all.”

“I hereby fully authorize the toll-free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade,” Trump continued.

Trump told the New York Times in an interview after the agreement was announced that if Iran failed to reach a final agreement on nuclear issues, the US would restart attacks against Tehran.

There are five twists that will determine whether Trump’s nuclear deal will be seen in five months and five years as good or bad for Israel.

1. 60% enriched uranium AND 20% enriched uranium:

The framework deal signed on Sunday-Monday starts a 60-day negotiation period to resolve nuclear and sanctions issues. If the 60% enriched uranium is removed from Iran or diluted under US supervision, the last piece of Iran’s nuclear program, which could have presented a danger in the next year or two, will be gone (most of the near-term danger was removed by the June 2025 war)

If the 60% uranium is not dealt with, Iran will retain a nuclear threat that could be weaponized within one to two years. The heavy presumption is that this will be properly dealt with because it is the only major item Trump is receiving in the deal and was a key reason he said he went to war in early 2026.

Keep an eye, though, also on the 20% enriched uranium. This is not as dangerous as the 60%, and so has been in the news less. But getting from 3.67% to 5% to 20% is a significant achievement. Removing ot diluting this uranium is also critical to prevent Iran from ever having a running start toward a nuclear weapon.

Patience will be critical. It will probably take weeks or months, even after the 60-day final deal is signed in mid-August to get the 60% uranium as it is under huge volumes of rubble from when the facilities holding it were bombed by Israel and the uS in June 2025.

2. Uranium enrichment freeze:

It has been widely leaked that Iran will agree to a 15-20 year uranium enrichment freeze. However, Trump said overnight that he had agreed to some low level of enrichment for Iran.

Being that Trump is rarely strong or accurate at nailing down nuances, this is an important one. If he was saying that even after 15-20 years, Iran will still be limited to low-level enrichment, then that is a big win.

If he is saying that Iran will get to enrich at a low level at some earlier date, then it depends on what the level is and how many centrifuges would be spinning. One of the largest problems with the 2015 Obama Iran deal was that around 5,000 centrifuges kept spinning, and another 15,000 or so were in storage and could be reactivated quickly.

The Jerusalem Post understands that all or nearly all of these were destroyed in June 2025. It is critical that Iran not be allowed to rebuild this fleet under the guise of being within some low level of enrichment. As long as it lacks this fleet, it cannot weaponize uranium.

3. Lebanon withdrawal:

Trump and Iran have raised an Israeli withdrawal from southern Lebanon. Israel does not need to remain in southern Lebanon, and that was never part of the grand plan.

It does want to be able to use a full or partial withdrawal from southern Lebanon in order to achieve an end to Hezbollah’s presence in southern Lebanon, and possibly some level of broader disarmament, such as a commitment not to smuggle in new long-range precision weapons.

There is also a possibility of maintaining the five small outposts which Israel maintained after the 2023-2024 war, as a small security strip to prevent future Hezbollah attempted invasions.

It would be wise for Israel not to withdraw from those outposts until there is a much more complete end to the Hezbollah threat, something which is not on the horizon. Withdrawals from Lebanon could also help achieve normalization with the Lebanese government to further isolate Hezbollah.

4. Return to MABAM:

If there is a new nuclear deal, it would be wise for Israel to hold its fire against Hezbollah, certainly up until the 60% enriched uranium issue is dealt with.

However, once that issue is dealt with, if Hezbollah does try to rearm, especially with long-range precision missiles, Israel should be clear that, even if covertly and without press releases, it will return to the MABAM (war between wars) where it carried out quiet and targeted airstrikes against weapons smuggling convoys in Lebanon and Syria.

Stopping minor attacks on minor Hezbollah rearming efforts is one thing. Stopping the attack on strategic weapons smuggling should not happen, at least not once the uranium is removed or diluted.

5. Unwritten Israel threat on Iran ballistic missiles:

Israel cannot allow Iran to cross a line of volume in ballistic missiles that could overwhelm its missile shield.

While it is unclear whether that number is 4,000 or 6,000, and Israel has tolerated 3,000 such missiles, so it is not that low, Jerusalem must deliver a clear message to Tehran about this red line.

The Jewish state has already lived with Iran having a couple of thousand missiles since the 1990s. But it cannot tolerate the possibility of an arsenal that becomes too large to defend against. 

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The Indian Army has selected Meprolight’s MEPRO X6 telescopic sight as the dedicated daytime optic for its Negev light machine guns (LMG), concluding a multi‑year evaluation process aimed at boosting long‑range engagement capability across frontline units.

The selection marks a significant win for Israel‑based Meprolight, a long‑time supplier of electro‑optical systems to militaries worldwide.

Meprolight Ltd., a member of the SK Group, released the Mepro 6x day scope in 2018. The scope will be integrated into at least 10,000 Negev LMGs that will be delivered to the Indian Army in the coming year.

In March, it was announced that the first 2,000 LMGs were delivered as part of a much larger 41,000‑unit order signed in August 2024. An additional 4,000 are scheduled to be delivered later this year.

The Negev 7, a modernized variant of IWI’s combat‑proven light machine gun family, is being produced in India under the government’s Make in India and Atmanirbhar Bharat initiatives. 

Golan Kalimi, senior vice president at Meprolight, told Defense & Tech by The Jerusalem Post that it was the “first time that any army in the world is placing optics in submachine guns in such a big quantity as part of the weapons systems.”

The decision follows extensive user trials and environmental testing, during which the 6× fixed‑magnification sight was assessed for durability, accuracy, and ease of use under harsh operational conditions. 

According to Kalimi, the accuracy was the toughest part of the testing: “Hitting a target of 800 meters is very tough. All the other tests were hard, but we were familiar with them. But hitting a weapon almost a kilometer away with a light submachine gun is very different. It’s very hard.”

Meprolight is an Israeli manufacturer of electro-optical systems, thermal and night vision equipment, self-illuminated sights, as well as Laser Range Finder systems for military, law enforcement, and civil applications.

As part of the contract, the Indian Army sought an advanced optic that could extend effective engagement ranges while improving target identification. The MEPRO X6, designed for assault rifles and light machine guns, offers a wide field of view, ruggedized construction, and high‑clarity optics suited for demanding environments. 

The Mepro 6x is a compact and lightweight x6 telescopic day sight with a range of up to 1000 meters. The sight has enhanced optics and operates with a single standard battery with an option for extended operation. 

According to Kalimi, the IDF doesn’t have the same optics, as they don’t place magnifying sights on their LMGs. He told D&T that these sights were “custom-made for the Indian army.”  

The sights will be delivered through Bharat Electronics Limited (BEL), which secured the tender with a solution based on the MEPRO X6. To meet India’s localization requirements, Meprolight has signed a Transfer of Technology (ToT) agreement with RRP Defense. 

Under the arrangement, RRP Defense will manufacture the sights domestically and supply them to BEL, the program’s prime contractor.

“The future of military capability will be defined not only by platforms and weapons, but by the quality of the information available to the soldier at the moment of decision,” he said. 

“The selection of the MEPRO X6 by the Indian Army is a significant milestone, and through our technology transfer partnership, we are proud to contribute not only advanced capability but also to the long‑term growth of India’s defense and manufacturing ecosystem,” he added.

Local production under ‘Make in India’

The partnership aligns with India’s broader Make in India initiative, which aims to expand domestic defense manufacturing capacity and reduce reliance on foreign suppliers.

The partnership between India and Israel has grown steadily since the 1990s, evolving from a discreet supplier‑client relationship into a strategic collaboration spanning missiles and missile defense systems, unmanned aerial vehicles, electronic warfare, and small‑arms production. 

Meprolight is part of Israel’s SK Group, a defense and industrial conglomerate that includes Israel Weapon Industries (IWI), Camero‑Tech, Israel Shipyards, and other firms specializing in precision‑engineered military systems.

The company’s products, ranging from magnified optics and red‑dot sights to thermal and night‑vision systems, are used by the IDF and security forces in more than 60 countries.

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Iran’s soccer team arrived in the United States for the first time at this World Cup on Sunday, landing at Los Angeles International Airport and holding a press conference on the same day that a peace deal between the two nations was announced.

The Iran squad arrived after a short flight from Tijuana, Mexico, where they left their base camp earlier to a rousing sendoff ahead of their opening game against New Zealand at Los Angeles Stadium on Monday.

“I am very happy to be representing the great, proud and strong nation of Iran,” Iran coach Amir Ghalenoei said through a translator in a press conference at the stadium.

“I hope that football will bring about joy and enjoyment, and bring closer the cultures and countries.”

The squad’s Group G fixture against New Zealand will be played against the backdrop of the US war with Iran and the newly-announced peace deal, adding a charged atmosphere to ​a contest between two nations who have never met at a World Cup.

Iran moved their World Cup base camp from a sports complex in Arizona to Mexico late last month after the US and Israel conducted joint strikes on Iran ​beginning in late February.

Iran will now have to make the trip from Mexico to the US for each of their three group matches and Ghalenoei said the travel and the denial of visas into the US for some members of their soccer federation had negatively affected the squad.

The US-Iran deal to end the war will be signed during an official ceremony on Friday in Switzerland, US President Donald Trump and Pakistani Prime Minister Shehbaz Sharif said on social media on Sunday.

 

‘Bring an end to this regime’

While the squad flew to LA, a group of protesters calling for democracy in Iran and denouncing its government rallied near Los Angeles Stadium.

“No Shah, No Mullah in Iran, Regime Change by Iranians,” said placards. Pictures and posters of athletes who protesters said had died after being arrested by the Iranian government lined a busy street corner in Inglewood.

The January crackdown on protests in Iran, which rights groups and activists say killed thousands – and possibly tens of thousands – was a particular outrage to Mojgan Ramezani, 56, an Iranian American at the rally.

“They’re holding hostage their own people,” said Ramezani.

Hassan Haddadi, 70, said he was frustrated that most of the world’s governments had done little to support change in Iran.

“We’re hoping to bring awareness to the western world, to somehow do something beyond just condemning, to bring an end to this regime,” said Haddadi.

Ghalenoei said the squad’s players and coaches were “not political people.”

“We are here to play football and represent the respectful people of Iran, be it the Iranians inside Iran or the Iranian diaspora.”

 

‘Mexico stands with you’

Earlier in Tijuana, supporters lining five-deep on a packed sidewalk outside Iran’s hotel chanted “Team Melli,” Persian for “national team,” as the Iranian players emerged from the hotel and walked towards the waiting bus.

Many of the players waved and smiled at those who had gathered while some members of the delegation took video of the scene with their phones.

One supporter held a yellow sign with black lettering reading: “Iran, you will never walk alone. Mexico stands with you.”

A young boy perched on someone’s shoulders clutched the official Panini FIFA World Cup 2026 sticker album, open to the Iran squad page.

At one point, the crowd sang in Spanish, “Iran, brother, you are Mexican now.”

Iranian soccer federation President Mehdi Taj stood outside the hotel as the players left with many of the supporters following the bus down the street as it drove away.

The Iranian community in Tijuana is tiny, around 20 people, and much smaller than that of Los Angeles, which is home to the largest Iranian community outside Iran.

Tens of thousands of Iranian Americans live in Los Angeles, where a distinct diaspora often referred to as “Tehrangeles” has taken root.

This is the first ‌World Cup ⁠since its inception in 1930 in which a host nation has received a country it is at war with.

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Iranians who oppose the regime are “shocked” by the emerging details of an agreement between the US and Iran, an Iranian source told The Jerusalem Post on Monday.

The source, who is in touch with Iranians inside Iran and is knowledgeable about the situation on the ground nationwide, discussed how the emerging agreement is being received in Iran.

The source said that friends say “everything was going on organically to the advantage of the Iranian people and the world since the first war in June 2025 started against the Islamic Republic.”

The source discussed the 12-day war and how that conflict, which began with Israeli strikes on Iran, was successful.

However, the source said that dissidents in Iran have been surprised by the outcome of the Trump administration’s involvement. “He came to harvest what Israelis had planted while the tree was still a sapling, and he ruined the seeding.”

The source said that one surprising comment among opponents of the regime is talk about how hardliners could stage a military coup inside Iran. This is because there is opposition to an emerging deal within the Islamic Revolutionary Guard Corps (IRGC).

“There’s numbers [sic] of hardliners in the regime body yet,” the source said, then claimed that “reformists in the IRGC” have been doing “a purge in recent months. They isolated the hardliners.”

Worry that Iran’s regime ‘fooled’ US

The concern is that within Iran, the regime perceives an emerging deal, apparently mediated by Pakistan and Qatar, as a win for Tehran.

“On Iranian state TV, they described it as the victory of the axis of resistance against the US,” the source notes. “We are all shocked. I was talking with a friend in Iran a few hours ago. They can’t believe they made the deal.”

The concern among those who oppose the regime in Iran is that the US has been convinced to make this deal.

The source is critical of the Trump administration’s team and says they have been fooled by the regime. “We were thinking that hardliners in Iran won’t allow the moderates and reformists to do a deal with the US.”

Iranian hardliners could ‘sabotage deal, weaken regime’

This has led some to believe that it may be preferable for the “hardliners in Iran to gain more temporary power, so they can stop this agreement from being finalized.” In a sense, the hardliners could sabotage the deal, thereby weakening the regime in the long run.

“The moderates within the IRGC, and those working with them, understand the language of Western diplomacy. They know how to mislead Western governments, how to switch to the role of the ‘victim’, and how to shape international public opinion so that it looks as if the Islamic Republic has been treated unfairly,” the source added.

There is now a concern that the regime and its proxies, such as the Houthis and Hezbollah, have won. There is a sense that the Iranian people deserved better than what has happened to them.

They suffered a massacre in protests in January, and then the February war did not bring the toppling of the regime. Instead, the regime may feel empowered. 

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Every month, tens of millions of American renters face a structural problem disguised as a personal one: rent is due on the first. But most workers are not paid on the first – and many don’t know how much they’ll be paid until the check arrives. In surveys of renters using payment flexibility tools, 31% report that they sometimes, rarely or never have enough income available when rent is due – not because they lack earnings, but because the timing does not align.1

Call it the timing tax.

Nearly 50% of U.S. renters are now cost-burdened, according to Harvard’s Joint Center for Housing Studies.2 One in four spends more than half their income on housing. These numbers reflect a genuine affordability crisis – but they obscure a second problem: Even renters who can afford their rent often cannot synchronize that payment with when their income arrives.

Implementing flexible rent payment infrastructure offers an immediate, subsidy-free solution to housing instability by aligning rent deadlines with residents’ actual income schedules.

A system built for a paycheck that no longer exists

According to the Bureau of Labor Statistics, only about 10% of private U.S. establishments pay workers monthly.3 The remaining 90% pay weekly, biweekly or semimonthly – none of which align with rent due on the first. The timing mismatch is a feature of the income infrastructure itself.

The problem runs deeper for many workers. The Federal Reserve’s Survey of Household Economics and Decisionmaking (SHED) found that one in three wage workers reports income that varies month to month.4 For hourly, tipped and gig workers, the challenge is committing to a fixed lump-sum obligation when the monthly total is itself uncertain.

The conventional solution to this problem is savings. But when rent consumes half of your monthly income, what remains must cover food, transportation, utilities and childcare until the next paycheck. There is no margin to build a reserve.

Surveys of renters in financially precarious situations find that more than half have three weeks or less of financial runway, and nearly three-quarters experienced an unexpected budget strain in the prior month alone.5 The Federal Reserve’s 2024 SHED found that 37 % of American adults could not cover a $400 emergency expense using cash.6 The savings argument assumes slack that the rent burden has already consumed.

The cost of the status quo

Before renters reach for a financial product, the gap extracts costs in quieter ways: utility bills delayed, medications unfilled, groceries skipped, money borrowed from family. These are the predictable responses of households with no liquid buffer and a fixed obligation that cannot be deferred.

When the financial system gets involved, costs escalate quickly. The CFPB found 14% of renters paid a late fee in the 12 months ending November 2024, averaging $85, with nearly 60% paying two or more.7 Overdrafts compound the damage: Americans paid $12.1 billion in overdraft and NSF fees in 2024, with the most financially vulnerable households averaging $380 annually.8

Payday loans cost the typical borrower $520 to borrow $375.9 Rent payment processing platforms charge credit card transaction fees of 2.5 to 3% – up to $720 annually on a $2,000 payment – before interest accrues at an average APR exceeding 21%.10 11

The timing tax is already being paid. The only question is what kind of infrastructure collects it – and at what cost to the people who can least afford it.

The fix doesn’t require legislation

Purpose-built payment flexibility infrastructure solves this differently: The landlord receives full payment on the due date, and the credit risk, repayment mechanics and compliance obligations are handled by a third party equipped to manage them.

The evidence that such infrastructure works is not theoretical. Newly published research has found that structured, non-penalty payment tools reduced 90-day-plus delinquencies and lowered reliance on high-cost credit – with no adverse effects on any of 43 measured financial health outcomes.12 Renters repay when the product is designed around their actual income schedule.

This does not require legislation or subsidy. It requires property owners, operators, public housing authorities and housing agencies to recognize that the lease calendar is an infrastructure problem they have both the means and the incentive to solve.

Resident financial instability is a balance sheet risk. Evictions, vacancy and turnover cost far more than the late fees collected from a stressed resident. Tools that align rent payments with actual income schedules reduce delinquency, improve retention and stabilize net operating income – at no cost to the property. Financially stable residents produce financially stable properties.

The push to solve the root causes of America’s housing crisis – more supply, expanded affordability, zoning reform – is necessary and right. But policy operates on timelines measured in years, and millions of renters are navigating the crisis today, on the first of every month, with the income schedules and margins they actually have. The timing tax has a structural fix available now – one that requires no subsidy, no legislation and no trade-offs with the broader affordability agenda. The renters who need it cannot wait for everything else to be solved first.

Sources

  1. Flex Financial Health Survey, Q1 2026. “Most Renters Are One Disruption Away from a Financial Crisis.” Flex (Flexible Finance, Inc.), March 2026. Available at: https://assets.getflex.com/marketing/files/032426_Financial_Health_Survey.pdf
  2. Harvard Joint Center for Housing Studies. “America’s Rental Housing 2024.” Available at: https://www.jchs.harvard.edu/americas-rental-housing-2024
  3. Bureau of Labor Statistics, Current Employment Statistics. “Length of Pay Period.” February 2023. Available at: https://www.bls.gov/ces/publications/length-pay-period.htm
  4. Federal Reserve Board. “Economic Well-Being of U.S. Households in 2024.” May 2025. Adults who received only wages or other labor income were more likely to report their income varied month to month, at 33 percent. Available at: https://www.federalreserve.gov/publications/2025-economic-well-being-of-us-households-in-2024.htm
  5. Flex Financial Health Survey, Q1 2026. Op. cit. 54 percent of respondents had three weeks or less of financial runway if income stopped; 73 percent experienced an unexpected budget strain in the prior month. Available at: https://assets.getflex.com/marketing/files/032426_Financial_Health_Survey.pdf
  6. Federal Reserve Board. “Economic Well-Being of U.S. Households in 2024.” May 2025. 37 percent of adults could not cover a $400 emergency expense using cash or its equivalent. Available at: https://www.federalreserve.gov/publications/2025-economic-well-being-of-us-households-in-2024.htm
  7. Consumer Financial Protection Bureau. “Behind on Rent: Examining Rental Housing Delinquencies in New Payment Data.” January 2025. Available at: https://www.consumerfinance.gov/data-research/research-reports/behind-on-rent-examining-rental-housing-delinquencies-in-new-payment-data/
  8. Financial Health Network. “Overdraft and NSF Fees: A Bigger Burden Than Previously Estimated.” November 2025. Available at: https://finhealthnetwork.org/research/overdraft-nsf-fees-bigger-burden-than-previously-estimated/. CFPB research finds frequent overdrafters paid an average of $380 in overdraft fees annually. Available at: https://www.consumerfinance.gov/about-us/blog/overdraft-fees-can-price-people-out-of-banking/
  9. Consumer Financial Protection Bureau. “Payday Loans and Deposit Advance Products.” Available at: https://www.consumerfinance.gov/data-research/research-reports/payday-loans-and-deposit-advance-products/
  10. Industry sources: Yardi Systems approximately 3.0%; AppFolio approximately 3.0% + $0.30; Rentec Direct 2.95%. See: https://www.homebasecre.com/posts/understanding-appfolio-transaction-fee
  11. Federal Reserve G.19 Consumer Credit Report, Q1 2026. Available at: https://www.federalreserve.gov/releases/g19/current/
  12. Jordan, M. “Financial Health and Liquidity Smoothing: Evidence from a Regression Discontinuity Design.” Flex (Flexible Finance, Inc.), March 2026. Available at: https://assets.getflex.com/marketing/files/032426_Financial_Health_Study_final.pdf

Ryan Metcalf is the Vice President of Public Affairs at Flex 
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: zeb@hwmedia.com.

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Most people working in the mortgage industry today couldn’t pass a basic exam on the industry they work in. I was guilty of that myself, for my first several years originating loans.

For me, it wasn’t because I didn’t have the aptitude or didn’t care. I cared, but about the things I knew would benefit my sales the most in that given month: rate sheets, guidelines, borrower DTIs, which files were CTC.

The mortgage business is a century-old, multi-trillion-dollar industry that touches the largest financial transaction most Americans will ever make. We train our people the way blacksmiths trained apprentices: sit next to someone who’s been here a while, watch what they do and hope you absorb the right lessons before they retire.

Introduction to the tribal knowledge era

My first real job in mortgage was at a mortgage brokerage in Brooklyn, New York, in 1997. I was barely twenty years old. By that time, my mother had been a loan officer in a mortgage brokerage for a decade, and I’d spent a lot of after-school hours in her office helping her package FHA loans to be sent for underwriting. Yes, we mailed loan files back then to nameless, faceless HUD underwriters. Turn time? About 4-6 weeks. So when I walked into that brokerage for the first time, I had some knowledge of how a mortgage worked.

After spending all those afternoons with my mother, I wasn’t surprised to learn that my training program was going to consist of me shadowing the brokerage’s sales manager, Norm Katz. He was an industry veteran with a solid book of business, a love of the game and an enormous amount of patience for a kid who didn’t know much.

Norm helped me get my first loan, and that was no easy feat. While I had some innate sales talent, I was totally green, and why should anyone trust a kid who still lived at home to captain their home-financing experience? But I somehow did it. When it was time to get that loan approved, I learned I’d graduated the first level of my training, and I was now going to deal with Drew Cardinal, the brokerage’s no-nonsense ops manager.

My first lesson was that he wouldn’t look at any file that wasn’t in the correct stacking order and wasn’t clipped on the correct part of the page. Good grief. After he made my life miserable for a bit, we got the loan approved and then closed. I had finally graduated. I was expected to do it myself and do it right after that. My experience is similar to that of many.

Why the 1997 playbook fails in 2026

The tribal-knowledge model didn’t develop by accident. It developed because, for a long stretch, it was just how we did things. Careers were thirty-year arcs at one shop. Volumes were relatively stable. Product complexity was manageable: conventional, FHA, VA, jumbo, done. The Fannie conforming limit was around $250K when I first started originating loans. Simpler times. You could shadow a senior LO for a few weeks, learn her patter on sales calls, take some applications and become a competent loan officer by the time you’d been on the job for a year.

That might have been fine for 1997. The product set is broader and more layered than anything Norm was teaching me nearly thirty years ago. We have non-QM and bank statement loans, over 2,500 DPA programs across the country, an ARM resurgence, AI-assisted AUS pathways and MSR considerations that impact how companies make decisions. The regulatory perimeter seems to shift every quarter, or at least the discussions around it do. The borrower across the table, or, more accurately, across the screen, has done more research on their own loan than most LOs do in a typical month.

Tribal knowledge is, by definition, inconsistent, and its quality is largely dependent on the deliverer; we can no longer rely on that model to keep us moving forward. This is true on both the sales and operations sides.

The data behind a widening credibility gap

Per the data platform Model Match, roughly 230,000 originators have closed at least one loan in the last fourteen months. That sounds like a lot of originators until you remember the industry was supporting nearly double that headcount at the volume peak just a few years ago, and that the contraction has fallen hardest on the people who carried the most experience.

Producing LO counts cratered through 2023 and bottomed somewhere around 94,000 by early 2024, per industry reporting drawn from NMLS data. The Bureau of Labor Statistics counts roughly 301,000 loan officers across all categories of lending. The MBA’s 2026 forecast calls for $2.2 trillion in origination volume. We will be originating that with a bench that is older, smaller and less credentialed than it ever has been.

About credentials: the Mortgage Bankers Association recognized 40 new Certified Mortgage Bankers at its 2025 Annual Convention. Forty. In an industry of over 200,000 originators. 

The skew on the people side is just as steep. Industry data pegs the average loan officer at 45 years old, with roughly two-thirds over 40 and only about one in ten under 30. The median first-time homebuyer is now 39. The customer is younger (though that number is trending higher every year), more digitally literate and asking sharper questions than the median originator is equipped to answer. That is not a sustainable shape.

Mortgage is, again, the largest financial decision most American households will ever make. The borrower we serve in 2026 has Googled rate sheets, watched TikTok explainers on PMI, and asked ChatGPT to compare a 2-1 buydown on a 30-year fixed to a 5/1 ARM. The credibility gap is widening.

If a loan officer can’t explain how GNMA pooling affects pricing, what an AUS recommendation is actually evaluating or why DTI thresholds drift between investors, we risk losing the moat that’s protecting originators from extinction in a world of agentic AI. 

So how do we move from a culture of tribal knowledge to one of education, advocacy and expertise?

Elevating the bar from CE to true expertise

It starts with the assumption that learning your industry is part of the job, not a thing your company’s executive leadership team is supposed to keep an eye on while you crank out volume.

The professionals in adjacent industries, financial advisors, CPAs and attorneys, operate on the assumption that continuing education is a permanent feature of the work, not just something done to satisfy NMLS or state requirements. Mortgage has convinced itself that licensing CE counts as professional development. It’s the minimum, and to be frank, in most cases somewhat useless in terms of building real expertise.

What ownership actually looks like is short and not particularly mysterious. Pursue a designation. The CMB if you qualify, the CRU if you sit on the underwriting side (only 500 or so have gone through the program since its inception in 2003) and a credential from your state MBA. Read the primary sources, or have Chat summarize for you. FHFA scorecards, the MBA’s weekly chart book, the GSE seller guides, CFPB rulemaking notices, Fed minutes. Read HousingWire, National Mortgage News, National Mortgage Professional and Mortgage News Daily. Subscribe to Chrisman Commentary.

Twenty minutes a day puts you ahead of nine out of ten people you compete with. Attend at least one substantive conference a year. Learn one adjacent function annually. If you originate, learn how an underwriter thinks. If you process, learn what happens to the loan after it ships to the warehouse line. Ask the seniors in your shop what they know that you don’t, while they are still here to ask.

This is the bar for a mortgage professional in 2026. The shape of the next decade in this business will be determined by the people who decide they are responsible for understanding it.

The individual side of this only goes so far. Shops, trade organizations, and the industry as a whole carry the rest of the weight, and most are not carrying enough of it.

The corporate mandate: Invest in true expertise

What real investment looks like, in plain terms: build a real onboarding curriculum, with content, assessments and someone whose job it is to make sure new hires actually know what they need to know before they get in front of a borrower. Pay for designations. Companies in adjacent industries fund MBAs and CFAs without blinking; mortgage rarely funds the CMB for its own people. Build cross-functional rotations into career paths, so the originators understand capital markets, servicing, secondary, MSR economics and what happens to a loan from the day it funds to the day it pays off, and so the operations team understands what an originator actually does for a borrower.

There is also the matter of advocacy, which most of us have outsourced to other people and most of us never think about. The decisions that govern how each of us makes a living are made in Washington, in state capitals and through regulatory rulemaking.

The MBA’s Mortgage Action Alliance runs a national advocacy program that costs nothing to join and asks little of your time, and most of the industry has never heard of it. State MBAs run their own programs that move state-level legislation and rule changes that directly affect how loans get made and serviced. MORPAC is funded by the same handful of contributors every cycle while the rest of the industry sits out.

Knowing what is in the policy pipeline that could reshape your business model in twelve months is part of being a serious professional. Helping shape that pipeline is the other part.

Building the next bench of industry leaders

The last piece is the one we talk about least and need most. This industry is going to need a generation of leaders that does not yet exist, because the bench we have today is going to retire on a faster timeline than most companies are planning around. We can build that bench on purpose, or we can wait and hope; waiting and hoping is not a viable strategy. Try that the next time your dishwasher breaks.

The leaders we need will come from people who decided, early in their careers, that they would learn the whole business, show up for the work that does not pay commissions, mentor the people coming up behind them, write and speak about the issues that matter, serve on committees and put themselves in the rooms where decisions get made. Whether you intend to be one of those leaders is worth deciding on purpose. The industry will need you either way.

Tribal knowledge built this industry. We owe a real debt to the people who carried it and to the people who taught us. They sat next to us, answered our dumb questions and trusted us with deals we probably weren’t ready for. That model carried us a long way. The next generation deserves more than the same hand-me-down apprenticeship plus a longer list of products to memorize.

The test for everyone reading this is simple. What did you learn about your industry in the past year that you didn’t know the year before? If you can’t answer, that is the work. If your company can’t answer on behalf of its team, that is the work.

We are the industry. We are responsible for understanding it. And we are responsible for what it becomes.

Coby Hakalir is a mortgage industry consultant, podcaster, writer and content creator.
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: zeb@hwmedia.com.

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Binance (CRYPTO: BNB) co-founder Changpeng “CZ” Zhao said on Sunday that the anticipated Bitcoin (CRYPTO: BTC) super cycle may be delayed, playfully admitting that he can’t nail every prediction.

‘Super Cycle Will Come’

CZ posted on X a clip from his recent interview with CoinDesk, where he was reminded about his January prediction that 2026 will be a super cycle for Bitcoin.

“I try to avoid prediction questions regardless,” the cryptocurrency billionaire said, adding that he had already given the caveat that he cannot “predict the future.”

That said, CZ acknowledged the ongoing downturn in the market, referring to it as a “cryptocurrency winter.”

“We’re not a supercycle now, but will crypto die? Absolutely not. Crypto continues to grow. So I think the cycle will come. I’m not sure when,” he said with a chuckle.

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US President Donald Trump claimed that Prime Minister Benjamin Netanyahu almost derailed a peace deal between the US and Iran in an interview with The New York Times on Sunday, following announcements that the agreement had been reached. 

Trump called Netanyahu “a very difficult guy” and asserted that he “should be very thankful” to the US for negotiating the agreement, “because if Iran had a nuclear weapon, Israel wouldn’t be around for two hours.”

The memorandum of understanding between Tehran and Washington was announced on Sunday and will be signed on Friday in Switzerland. 

According to Iran’s Deputy Foreign Minister Kazem Gharibabadi, the signing of the agreement will kickstart 60 days of further negotiations regarding Iran’s nuclear program and other issues.

Trump told the NYT that if no final nuclear agreement is reached with Tehran, the US would restart attacks on Iran and become “the guardian of the Middle East.”

Trump, Pakistan PM announce deal on social media

The deal’s agreement was announced on Sunday night by both Trump in a Truth Social post and Pakistani Prime Minister Shehbaz Sharif on X/Twitter.

“The deal with the Islamic Republic of Iran is now complete,” Trump stated in his post, adding his “congratulations to all.”

“I hereby fully authorize the toll-free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade.”

In a subsequent post on Truth Social, Trump clarified that the Strait of Hormuz will be reopened to allow the transit of commercial vessels on Friday after the agreement is signed.

In his own post, Sharif said that “both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon.”

Sharif added that, now that the memorandum of understanding has been agreed upon, mediators will facilitate a series of “pre-implementation discussions” this week to continue technical talks.

Sharif thanked both the US and Iran for their “commitment to finding a diplomatic solution to the conflict,” and extended his appreciation to Qatar for their support in facilitating negotiations.

The Iranian semi-official news outlet Tasnim reported that Gharibabadi said the full text of the agreement will be released after the official signing ceremony.

Gharibabadi also stated that after the deal is signed by both countries, a 60-day period of further talks will begin. The talks will cover topics including the termination of sanctions against Iran, Iran’s nuclear program, and the establishment of a mechanism to monitor the implementation of the deal’s terms.

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United Nations Secretary-General Antonio Guterres congratulated the US and Iran for reaching a peace agreement on Sunday, shortly after US President Donald Trump announced the deal.

“I warmly congratulate the US & Iran for having reached a peace deal that provides for an immediate & permanent ceasefire, the reopening of the Strait of Hormuz, as well as a framework for further negotiations,” Guterres said in a statement on X/Twitter.

“This represents a critical step towards the peaceful settlement of the conflict,” he continued, concluding his statement by thanking Pakistan, Qatar, Egypt, Saudi Arabia, Turkey, and other countries for their efforts and the roles they played in bringing the agreement to fruition. 

World leaders reacted positively to the announcement of the agreement

Qatari Minister of State, Dr. Mohammed bin Abdulaziz Al-Khulaifi, took to his X/Twitter page to say that his country welcomes “the understanding reached between the United States and the Islamic Republic of Iran, which paves the way for a lasting cessation of military operations.”

“We commend the constructive efforts of the Islamic Republic of Pakistan in facilitating this process, alongside the support of regional and international partners,” he continued. 

“Qatar reaffirms its steadfast commitment to peace and dialogue as the most effective means of resolving differences, in line with the principles of the United Nations Charter and in support of international peace and security,” the minister concluded.

European leaders praise US-Iran deal

UK Prime Minister Keir Starmer additionally released a statement on X/Twitter endorsing the deal.

” I warmly welcome today’s agreement reached between the United States and Iran. This is a hugely important step forward in ending the war, ensuring regional stability, and reopening the Strait of Hormuz,” Starmer stated.

Starmer congratulated Trump, as well as Pakistani and Qatari mediators, for their efforts, and said the nation’s priority is for this agreement to turn into a “durable and lasting peace.”

The prime minister affirmed the UK’s position that the Strait of Hormuz must be a ‘toll-free freedom of navigation’ that must be restored, and the UK “…stand ready to support the technical talks that will begin.”

French Prime Minister Emmanuel Macron also took X/Twitter to react to the deal, in a statement saying, “I welcome the agreement reached between the United States and Iran, the result of a diplomatic effort to which several partners have contributed. I call for its rapid and complete implementation by all belligerents.”

Macron reaffirmed the importance of reopening the Strait of Hormuz and the “resumption of maritime traffic,” to be done “urgently” and “unconditionally,” without any toll restrictions. 

The statement echoed the sentiment that this agreement paves the way for “solid and lasting peace” in the Middle East and must address Iran’s nuclear and ballistic programs as well as its “policy of regional destabilization.” 

The Chancellor of Germany, Friedrich Merz, also commented on the news of the deal. 

“I welcome the agreement between the US and Iran and congratulate President Trump and the Iranian side on this diplomatic breakthrough. This can pave the way towards a reinvigorated global economy and a more secure Middle East. It is crucial to implement it with determination,” he said.

The announced deal between the United States and Iran marks a “potential breakthrough” in the war, and the EU will now weigh how it can be involved in the next phase, EU foreign policy chief Kaja Kallas said on Monday.

“From economic leverage to nuclear expertise and longstanding relationships with Gulf partners, the EU stands ready to contribute to a sustainable resolution,” Kallas said in a post on X, before a meeting of foreign affairs ministers from the 27 EU member states in Brussels.

 The agreement between the United States and Iran should allow for the “immediate reopening” of the Strait of Hormuz, EU Commission President Ursula von der Leyen said on Monday.

“The priority now is its swift and full implementation by all parties,” von der Leyen said about the announced deal.

“Freedom of navigation must be restored toll-free. This is essential for regional stability and the global economy. It opens the door to broader negotiations on peace and security in the Middle East,” she added.

Von der Leyen also said that peace in the Middle East was impossible “while Lebanon is in flames.”

“Once again, Europe calls on all parties to respect Lebanon’s sovereignty and territorial integrity and implement a genuine ceasefire,” she said.

Israeli ministers react to the news

The Israeli cabinet was in the midst of a meeting when it learned the agreement had been announced, Maariv reported.

Prime Minister Netanyahu and Defense Minister Israel Katz reportedly got up from the meeting to connect with Trump and US Secretary of Defense Pete Hegseth when learning of the deal, the report said. 

Many of the cabinet ministers reportedly took a “hardline” approach in their responses to the agreement.

“It is right to respond, and I support the prime minister. Let’s capture more of their territory,” Minister Gila Gamliel said, referring to Lebanon. 

Transportation Minister Miri Regev said, “We are not a protectorate state. We need to stop the ping-pong and break out of this equation.”

“Stay strong, Prime Minister, but in the Middle East, you have to be the village madman. Not a balanced response and not a measured response.” National Security Minister Itamar Ben-Gvir said, following the news of the US-Iran agreement, presumably referring to the IDF’s actions in Lebanon.

Ben-Gvir continued in his statement, “We need a little of Mojtaba’s stubbornness. Every shot fired at Israel is a declaration of war against us, and we must respond disproportionately.”

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Two Israeli strikes over the past year have influenced a rapid American push toward ceasefire agreements.

On September 9, 2025, during Operation Summit of Fire in Qatar, an Israeli strike targeting senior Hamas leaders in Doha led to a ceasefire in the Gaza war several weeks later and the release of all Israeli hostages.

Following the operation, US President Donald Trump concluded that an agreement was needed. He applied pressure on Israel, as well as on Turkey and Qatar, which in turn conveyed a clear message to Hamas: it was time to bring the conflict to an end.

Less than a year later, an Israeli strike on Sunday in Beirut’s Dahiyeh district targeting a Hezbollah headquarters accelerated the American effort to persuade Iran to sign an agreement.

Tehran threatened retaliation against Israel, and the US president understood that an Israeli response to an Iranian retaliation could jeopardize negotiations over a memorandum of understanding between Tehran and Washington. As a result, he increased pressure on Iran, together with Qatar and Pakistan, to reach a deal.

In exchange, an agreement was reached providing for the immediate reopening of the Strait of Hormuz, rather than the gradual reopening originally envisioned, as well as restrictions on Israeli operations in Lebanon.

It remains unclear whether Israel will be permitted to act only in response to Iranian attacks or also against Hezbollah’s military buildup. Most significantly, Iran obtained something it did not have before the war: a temporary lifting of sanctions on the sale of oil and petrochemical products.

For now, Trump has not abandoned his demand that Iran forgo nuclear weapons. However, a key question remains: if the American president was unwilling to risk a war 90 days before the US midterm elections, will he be willing to do so 30 days before them?

As for Israel, preparations were underway last Thursday for a significant American strike against Iran, as well as for the possibility that Iran would resume attacks against Israel.

Trump announces US-Iran ceasefire

Then, in the middle of a security consultation convened by Prime Minister Benjamin Netanyahu with a small group of ministers and senior defense officials, Trump’s announcement arrived: “An agreement has been reached.”

Netanyahu sought to reassure the public, stating that Trump had made clear that no agreement would be finalized without addressing Iran’s nuclear program, its regional proxy network, and its ballistic missile arsenal.

However, judging by the victory statements issued by the US administration in recent hours, Washington appears to believe that the most difficult phase is already behind it.

In its view, a dramatic peace agreement has been achieved, and negotiations on the remaining issues can now begin, with the understanding that Iran will not obtain nuclear weapons. The major achievement, from the administration’s perspective, has already been secured.

Israeli officials also recognize that as long as negotiations between the United States and Iran continue, and especially if a formal agreement is reached, Israel’s freedom of action against Iran, including regarding its ballistic missile program, will be significantly constrained.

Consequently, the current focus has shifted to Lebanon: will the IDF be allowed to act only in response to Hezbollah attacks, or also against efforts by the organization to rebuild and strengthen its military capabilities?

This morning, senior Israeli officials are left feeling frustrated. There is deep criticism of the American administration and growing concern that a war which began with the stated goal of toppling the Iranian regime may end, at least for now, with that regime intact, stable, and once again benefiting from a flow of financial resources.

“Help is on the way,” Netanyahu and Trump told the Iranian people at the outset of the conflict. Yet for the moment, the Iranian public remains on the sidelines. The Ayatollah regime emerges from the war alive, breathing, and still firmly in power.

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Sydney’s Coogee Beach reopened on Monday under the watchful eyes of lifeguards and jet ski patrols, after a shark attack over the weekend left a woman critically injured and prompted a safety review at Australia’s popular shorelines.

The 35-year-old victim was swimming about 30 meters from the shore on Saturday morning when she was bitten by a three-to-four-meter-long shark, sustaining serious injuries to her arms and lower left leg. She remains in the hospital in stable condition.

Local authorities urged swimmers to be cautious.

“Our Lifeguards will continue JetSki patrols throughout the day, and Surf Life Saving NSW is operating a shark-spotting drone at Coogee Beach,” Randwick City Council said in a statement.

The council will host a community gathering on the incident on Saturday.

Coogee, south of iconic Bondi Beach, is symbolic of Sydney’s coastal lifestyle. The beaches, which lie east of the city, are famous for their golden sands and dramatic coastal cliffs, drawing millions of tourists from around the world every year, making water safety a high-stakes priority for the authorities.

Saturday’s attack was the latest in a series of shark encounters off Australian beaches. The week before, a man died after being attacked by a shark while fishing off ​the coast of Western Australia.

Last month, a 39-year-old man died after being attacked while ​fishing on ⁠Queensland’s Great Barrier Reef. Ten days before that, a ​38-year-old was fatally mauled on an ​island near ⁠Perth in Western Australia.

Dozens of beaches along Australia’s east coast, including in Sydney, were closed in January ⁠after ​four shark attacks in two days. Those followed heavy rain that created murky water, attracting sharks and reducing their ​visibility.

While shark encounters remain statistically rare, a Reuters analysis of data from the Australian Shark Incident Database shows a gradual rise, with the country averaging nearly 29 incidents per year over the last decade, up from roughly 16 per year in the 2000s.

Shark cull

The attack has forced a regulatory review of aerial surveillance. While emergency drones were deployed on Monday, Coogee normally faces strict flight restrictions because it lies directly beneath Sydney Airport’s flight path.

New South Wales Agriculture Minister Tara Moriarty said on Monday that it had been a really tough summer for shark activity, and nothing was off the table as the state considered safety measures. However, she said any action would prioritize technology, such as the drones.

Some experts have said Saturday’s attack was by a white shark, classified as a vulnerable species and protected under environmental laws that make it illegal to target, capture, or kill the animal without approval.

However, the attack has again led some to suggest a cull, a highly contentious issue.

“It’s so wrong that we don’t cull sharks after attacks,” former conservative prime minister Tony Abbott said in a video posted on his Facebook page.

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Leaders of the Group of Seven (G7) wealthy nations meet at a French lakeside resort on Monday shortly after the US and Iran said they had reached a preliminary deal to end their war.

Discussing next steps on Iran will be one of several issues the global leaders will wrestle with during the June 15-17 summit, which will also seek common ground on the war in Ukraine, tackle global economic imbalances, and source critical minerals outside the dominant supplier, China.

US President Donald Trump is due to arrive in Evian-les-Bains on Monday for the gathering at a time when global leaders are increasingly wary of the United States, although French officials were glad to have secured his presence after he left last year’s G7 summit in Canada early.

Many G7 leaders have been directly affected by Trump’s volatile moves on the global stage, which have upended the Middle East, global trade, and diplomacy. His actions have raised broader questions about the US commitment to the post-war global order it helped establish.

Trump is due to meet with Middle Eastern leaders and attend a working session with Ukrainian President Volodymyr Zelensky during the summit.

The Zelensky meeting on Tuesday comes at a time when Russian advances in Ukraine have slowed, and Ukraine seeks more military funding from its allies.

Zelensky’s hand has improved since Trump famously told him in the Oval Office last year: “You don’t have the cards.”

But he may find greater US support elusive, as Trump prioritizes drawing a line under the Iran conflict, which has dented his domestic support.

US-Iran ceasefire deal

G7 leaders will be keen to learn the details of the US-Iran deal. A memorandum of understanding is scheduled to be officially signed on Friday in Switzerland, but the precise terms are not yet known.

Trump said the Strait of Hormuz, a major shipping route for global oil and gas supplies that Iran has effectively shut down for months, would open on Friday, and that he had ordered the end of the US blockade of Iranian ports.

In a statement, the secretariat of Iran’s Supreme National Security Council said war and military operations on all fronts, including Lebanon, would end permanently starting on Monday night.

Iran’s deputy foreign minister, Kazem Gharibabadi, said a more expansive agreement would be negotiated during a 60-day ceasefire period, including sanctions relief for Iran. Iran’s nuclear program will be addressed in those later talks, sources had previously told Reuters.

The United Arab Emirates, directly harmed by the war, and key mediators Qatar and Egypt will also attend the G7.

Macron’s moment

Trump will be greeted on Monday by French President Emmanuel Macron, for whom this summit serves as a diplomatic capstone for his second and final term in office, which draws to a close next year.

Macron is increasingly seen as a lame duck domestically, but he still has pull on the global stage, and was able to get Trump to agree to a glitzy dinner at the Palace of Versailles on Wednesday.

Macron has sought to use France’s presidency of the G7 to push for action on global macroeconomic imbalances, a longstanding US ⁠concern, before Washington ​takes the chair of the G20 this year and the G7 next. France has framed the issue as a shared responsibility ​in that China overproduces, the United States overconsumes, and Europe underinvests.

Brazil, India, Kenya, and South Korea have been invited to the G7 to join the discussion, while Macron has urged China to boost its own consumption.

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Israel is not bound to US President Donald Trump’s US-Iran ceasefire agreement, Minister of National Security Itamar Ben-Gvir said in an X/Twitter post on Monday morning.

“Trump’s agreement does not bind us. Israel is not subject to the United States, and we are an independent and sovereign nation,” he said.

“We are not partners to this agreement that does not ensure our security, and it does not bind us in any way. We must not compromise on anything less than the dismantling of Hezbollah, we must not withdraw from any territory that our fighters have captured and cleared of terror infrastructure, we must not return to a situation where thousands of terrorists sit on the fences of northern settlements, and certainly we must not remain silent for a moment in the face of fire directed at the State of Israel,” Ben-Gvir continued.

Other Israeli officials took to X on Monday morning to state their positions, including Yair Golan, leader of The Democrats, who criticized Netanyahu for capitulating to a deal he deemed unsatisfactory.

Netanyahu “stood on the sidelines” as Israel’s “military achievements secured with the courage of our pilots and the blood of our fighters have been erased,” Golan said.

Replacing Netanyahu an ‘existential’ issue, Iran agreement a ‘strategic failure’

“Trump signs an agreement that funnels billions to the Ayatollahs’ regime, leaves the nuclear infrastructure intact, preserves the ballistic threat as is, and throws a lifeline to the murderous regime in Tehran,” he said in harsh criticism of the agreement. 

Pinning much of the blame for the agreement he sees as unsatisfactory on Netanyahu, Golan continued, saying, “Netanyahu is good for Hamas. Netanyahu is good for Iran. Netanyahu is good for Hezbollah. Netanyahu is not good for Israel.”

Golan ended his post by saying, “Replacing him is not just a political necessity – it is an existential security imperative.”

Benny Gantz, leader of the Blue and White party, said “Under no circumstances – it is forbidden to agree to restrict Israel’s freedom of action in Lebanon or to a withdrawal that endangers the residents of the north,” in his X post.

“The emerging agreement with Iran appears to be a strategic failure that will require Israel to engage in diplomatic, military, and legal struggles in the coming years, which only a broad Zionist government can lead,” he said.

‘Bond between Trump and Netanyahu’ remains strong

MK Miki Zohar, on the other hand, took the opportunity to emphasize the strength of US-Israel relations and, in particular, Trump and Netanyahu.

“The bond between Trump and Netanyahu will only grow stronger. More surprises are expected until the elections, and many people will be eating their hats in the coming period. Trump loves Netanyahu and Israel,” he was quoted as saying by KAN.

Defense Minister Israel Katz released a statement on Monday, saying that he and Netanyahu were outlining a “policy dictating that the IDF will remain in the security zones in Lebanon, Syria, and Gaza – indefinitely – in order to protect the border and Israeli communities,” calling the seizure of territory and establishment of security zones “among the greatest achievements of the IDF.”

Katz said that they will not compromise on Israel’s security, promising that all terror infrastructure will be destroyed. 

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Four people were killed while the Kyiv Pechersk Lavra monastery, a symbol of Ukrainian spiritual and cultural history, caught fire, in the heaviest Russian air attack on the Ukrainian capital in two weeks, authorities said on Monday, urging residents to take shelter.

The fresh strikes came after Ukrainian President Volodymyr Zelensky said on Sunday that he had spoken to US President Donald Trump and discussed efforts to end the more than four-year conflict, ahead of a G7 meeting in France this week.

The central Kyiv Pechersk Lavra monastery, a UNESCO World Heritage site founded in 1051, was seriously damaged in a direct attack, Tymur Tkachenko, the head of the capital’s military administration, said in a Telegram post.

“This is a UNESCO world heritage site, which is the equivalent, for us in France, as if Notre Dame or Saint Denis had been bombed, which is totally unacceptable,” said French Foreign Minister Jean-Noel Barrot, as he arrived for a meeting of European Union foreign ministers.

“A brutal assault on our people and our heritage. This is the true face of Russia’s Orthodox values,” Ukrainian Prime Minister Yulia Svyrydenko said on X.

As towering flames rose over the monastery, residents took shelter underground in the worst Russian attack on Ukraine since early June, when drones and missiles killed more than 20 people and left more than 100 wounded.

Drones and missiles struck several high-rise apartment buildings and damaged electricity lines, leaving some 140,000 residents without power, according to Kyiv authorities.

Four people were killed and 23 were injured, Tkachenko said.

“What more must the Kremlin Antichrist do for the world to realize that decisive action must be taken so that the Russian terror against Ukraine and the very principles of peace come to an end?” Metropolitan Epifaniy, head of the Orthodox Church of Ukraine, said on X.

Neighboring Poland, an EU and NATO member, scrambled fighter jets on Monday against a possible airspace incursion, before recalling the alert and saying no sky violation had been recorded, its Armed Forces said in a post on X.

Ukraine would be “urgently initiating” procedures within UNESCO and other international mechanisms to ensure “immediate and adequate responses to this state barbarism,” Foreign Minister Andrii Sybiha said on X in reference to the monastery attack, with Estonian foreign minister, Margus Tsahkna, also condemning the Russian strikes.

Attacks on Ukraine’s regions, central Russia

Most of Ukraine’s territory was under air raid warnings in the early hours of Monday and Ukrainian drones were being repelled over Russia as both countries continued to exchange strikes.

Five emergency service rescuers were killed and at least another five injured after a second Russian strike hit Kharkiv, Ukraine’s second-largest city, Interior Minister Ihor Klymenko said on Telegram, with three people, including a child, wounded in Sumy, according to social media posts by local authorities.

Russia and Ukraine both deny deliberately attacking civilians. Reuters could not independently confirm the reports.

Ukraine has recently intensified attacks on Russian industrial and energy facilities, as it tries to deprive Moscow of revenues and hasten an end to the war.

On Monday, three people were killed and another three, including a one-year-old child, were injured in a drone attack on the Russian city of Tula, an industrial cluster south of Moscow, the regional governor said in a Telegram post.

Ukraine-Russia peace deal slowed by Middle East conflict

Ukraine also moved overnight to cut off the Black Sea Crimea peninsula, annexed by Russia in 2014 and already grappling with a fuel crisis, from further supplies by hitting two bridges connecting it to the Russia-controlled areas.

Before his conversation with Trump, Zelenskiy had proposed direct talks with Russian President Vladimir Putin for a ceasefire solution involving the US and Europe – something Britain, Germany and France supported but Putin rebuffed.

The Kremlin said on Sunday that Trump told the Russian leader that ending the conflict in Ukraine was vital and he was ready to help.

Progress towards a peace agreement in Ukraine has been slow, with US officials and mediators concentrating on the conflict in the Middle East. US and Iranian officials said on Sunday they had agreed on a peace framework to end their war, with the pact expected to be officially signed on Friday in Switzerland.

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The stepson of Norway’s Crown Prince Haakon has been found guilty of two counts of rape and other crimes and is sentenced to four years in prison, an Oslo court ruled on Monday.

Marius Borg Hoiby, 29, who joined the royal family when his mother Mette-Marit married Haakon in 2001, pleaded not guilty to the most severe accusations against him, including those of rape, while admitting to some lesser charges. He can appeal the verdict.

The seven-week trial has gripped the country, detailing Hoiby’s drug addiction, self-made videos of sexual encounters and more than 800 electronic messages entered into evidence. One rape took place in the basement of the crown prince’s family home, the court heard.

Case has dented the popularity of the royals

Interest in the case was boosted by the contrast between the picture-perfect royal family and Hoiby’s alleged actions as heard in court, said Ketil Raknes, an associate professor in political communication at the Kristiania University of Applied Sciences.

The case, alongside other crises, has contributed to a decline in the popularity of the royal family.

It coincided with Crown Princess Mette-Marit’s apology for “poor judgment” in maintaining contact with the late US sex offender Jeffrey Epstein after he was convicted in 2008.

A Norstat survey out on February 21 – during the trial – showed a fall in the number of Norwegians favouring keeping the monarchy to a record low of 60%, from 70% in January, and a rise to 27% from 19% in those wanting a different system of governance.

In May, the royal family recovered somewhat in popularity, with 64% polled by Norstat supporting the monarchy and 23% wanting a different system of governance.

“It was … a perfect crisis for the royal family because they had two crises at the same time. And they had a lot of (criticism) for the way they handled the Epstein files,” Raknes said.

 

Mother’s health deteriorated throughout the trial

The verdict will be delivered amid difficult personal circumstances for Mette-Marit, Hoiby’s mother, who this month was placed on the national lung transplant list as her health has severely deteriorated.

She suffers from pulmonary fibrosis, a condition that makes it increasingly difficult to breathe. Without a transplant, she has around a year left to live, her doctors have said.

That is somewhat changing people’s perceptions ahead of the verdict, Raknes said.

“The coverage is much more sober,” he said. “People are seeing: ‘OK, this is a family who’s really struggling and this is not the time for … playing … the moral card as high as we maybe have done earlier in this case’.”

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US President Donald Trump hosted mixed martial arts fights on the White House lawn on Sunday, an unprecedented spectacle highlighting his willingness to blend the pageantry of his office with his brutal brand of politics and his family’s business interests.

The Ultimate Fighting Championship’s (UFC) seven bouts are the first professional sporting event to be hosted at the White House in the organization’s history. It is part of the Trump administration’s celebrations of the nation’s 250th anniversary, and is a centerpiece in the president’s summer of sport.

The event, held on Trump’s 80th birthday, began hours after Trump and Iranian officials announced they have a peace agreement to end the four-month-old war between their countries, which has pushed consumer prices to a three-year high, unnerving voters. It also coincides with his efforts to counter perceptions that he is becoming a lame-duck president.

Within minutes of strolling to his seat ringside, while the Marine Corps band blasted a live rendition of AC/DC’s “Thunderstruck,” Trump was posting details about the Iran deal on social media and speaking by phone with journalists.

Inside the eight-sided, chain-link cage, sponsorships from major US corporations and some of Trump’s political allies – including video-streaming platform Rumble, shipping tech firm EasyPost, and conservative advocacy group Turning Point USA – lined the canvas.

Some of the victorious fighters greeted Trump after their bouts. American fighter Bo Nickal followed his knockout victory by climbing over the cage fence to shake Trump’s hand. The president clasped the pugilist’s red gloves and slapped his sweaty shoulder in congratulations.

“This is unbelievable,” Nickal said afterward, gesturing toward Trump in a post-match interview with podcaster Joe Rogan, UFC’s longtime TV commentator. “It takes such a special person to be able to have the balls to do something like this.”

Another victorious fighter, heavyweight Josh Hokit, gave Trump an item that he hung around the president’s neck before delivering an expletive-ridden speech that included praise for Trump and concluded with a misogynistic jab at former first lady Michelle Obama.

The temporary venue, nicknamed “The Claw,” 20 rows deep on all sides and featuring supports rising higher than the White House roof, provided an intimate setting for Sunday’s bouts compared to the arenas normally used by UFC.

Fighters warmed up in a space at the Eisenhower Executive Office Building next door and walked out to their fights from within the White House itself. Noise from the sound system caromed off the facade of the White House’s Truman Balcony, shaking the executive mansion’s walls.

Punching, economic power

Seventeen months into his second term in office, Trump has repeatedly pushed the boundaries of the presidency to command attention and project strength.

In March, Trump reported the purchase of up to $50,000 in shares of TKO Group Holdings, UFC’s publicly traded parent company. The fighting circuit said it would spend $60 million to bear the cost of the event, but neither the company nor the White House has provided details of the financial arrangements.

“The vast majority of Americans are not celebrating 250 years of America by watching a UFC fight,” said Dan Rayburn, an independent streaming analyst. “This is really a private event.”

Closed captioning for the event, streamed on Paramount+, was sponsored by Trump Coin, the gold and silver tokens bearing the president’s profile that are sold by the Trump family. World Liberty Financial, a cryptocurrency firm backed by two of the president’s sons and the son of his chief diplomatic negotiator, contributed to the pool of bonus money doled out to fighters who impress UFC officials.

Tickets were not sold publicly. The White House recruited military personnel to fill some of the 4,000 seats in the arena. Other tickets were controlled by the Trump administration. UFC offered others to guests paying more than $1 million, a person familiar with the matter told Reuters.

The White House has rejected allegations of a conflict of interest and said the Trump family manages the president’s business affairs.

Few Americans approve of White House bouts

Trump asserted broad executive authority to host a private company’s event on federal grounds, a departure from norms that prompted a legal challenge and raised concerns about the event’s cost and potential ethical conflicts.

In a Reuters/Ipsos online poll of 4,531 US adults conducted June 3-8, just 16% said ​it was appropriate for Trump to hold the event. A judge declined on Friday to block the event in a legal challenge by plaintiffs who had argued that his administration exceeded its authority in staging it.

Trump, whose occasional involvement with mixed martial arts goes back decades, is close with UFC Chief Executive Dana White and the Ellison family, whose Paramount has a $7.7 billion deal to air UFC fights until 2033.

Trump has made sports a recurring feature of his presidency, weighing in on issues including transgender athletes and pay for college football players, and has attended a range of major sporting events, including several UFC shows.

France delayed the Group of Seven summit, which starts on Monday, to accommodate Trump’s attendance at Sunday’s UFC event.

About a fifth of Americans call themselves MMA fans. According to the Reuters/Ipsos poll, fight fans do not have a particularly high opinion of Trump’s overall job performance.

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Top producers rarely leave for the reason they put in the resignation email. “Better splits” is the polite exit line. The real reasons are quieter, gradual and, frustratingly, often completely avoidable.

Here’s what’s actually driving your best agents out the door and the real estate agent retention conversations that you need to be having proactively in order to keep them.

Reason 1: They’ve outgrown the room

The top 10% of your agents aren’t comparing themselves to the rest of your organization anymore. They’re comparing themselves to the top producers across town, on Instagram or even in your state. If your office culture still mostly revolves around floor time and rookie training, your best agents will eventually feel like they’ve aged out of their own brokerage.

The conversation you should be having with your top agents is: “What does the next version of your business look like, and what do you need from me to build it?” Then actually listen for the answer. This creates a shared vision that ensures everyone is on the same page.

Reason 2: They feel invisible

This may seem completely counterintuitive, but it’s surprisingly true. The agents closing 40+ deals a year often get the least attention from leadership because they’re “fine.” Meanwhile, you’re spending hours coaching the agent who might quit real estate by Q3. Top producers notice. They start to feel like a revenue source rather than a person.

The conversations you need to be having to build agent retention involve: a real one-on-one every month, not a transaction review, not a pipeline check. Make sure to also check in about their life, their challenges and their goals for the next three years so you completely understand what’s driving them.

Reason 3: The competition is recruiting them with specifics

When a competing broker-owner takes your top agent to coffee, they don’t pitch “great culture.” They show up with a custom comp proposal, a marketing budget number, a transaction coordinator they’ll assign on day one and a story about three other top producers who just joined. If your agent retention strategy is vaguer than their recruiting pitch, you’ll lose. 

The conversation starter for top producer retention: “If I were trying to recruit you away from here, what would I need to offer?” Ask it before someone else does.

If you need a unique value pitch that no other broker owner can offer, look into companies like JMG (Jason Mitchell Group). They specifically partner with broker owners to ensure their agents are able to consistently close two to four extra deals a month through the support of their 80+ national B2B Referral partners. These partnerships ensure your agents are getting quality opportunities each and every month that can help them earn an extra $160K+ a year in GCI.

Reason 4: They don’t see where this is going

High performers think in terms of long-term trajectory. If they can’t articulate how year three at your brokerage enhances their business over year one, they’ll find another brokerage that offers ownership, equity, a team-build path or a leadership role.

The conversation to have: map out a growth path on paper, not with vague promises, but with actual milestones.

Reason 5: The little things stopped working

Slow commission checks. A broken printer no one fixed. A compliance email that reads like an accusation. Top producers tolerate friction until they don’t, and then it all comes out at once.

The conversation isn’t really a conversation; it’s an audit. Walk your office the way a new agent would. Fix what you find.

Get the conversation started now

The pattern across all of these agent retention conversations: Your best agents leave when they stop feeling seen, stretched thin or supported. None of that requires a bigger split. It requires showing up before the resignation, not after.

Block 30 minutes this week. Pick your top three producers. Send the text that starts with “I’d love to grab coffee, no agenda, just want to hear how things are really going.”

That’s the whole retention strategy.

Click Here

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Coinbase Global Inc. (NASDAQ:COIN) CEO Brian Armstrong reaffirmed on Sunday his bullish stance on Bitcoin (CRYPTO: BTC), projecting a “much higher” price for the asset by 2030.

‘A key Part Of Our Economy’

Armstrong shared a clip on X from his recent appearance on the Moonshots with Peter Diamandis podcast, where he expressed strong optimism about Bitcoin’s future.

“I think Bitcoin is the new digital gold. I think it’s gonna be a key part of our economy going forward into the future. So, I am as bullish as ever,” the cryptocurrency billionaire said.

Armstrong Says Bitcoin Bottom Might Be In

Armstrong also posted a chart mapping Bitcoin’s historical 4-year cycles, highlighting alternating bull and bear phases from 2011 through 2025.

“We can kinda see …

Full story available on Benzinga.com

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