Every day, doctors turn to specialized calculators to make decisions about their patients’ care. Kidney performance? There’s a calculator for that. Chance of a successful vaginal birth after a previous C-section? There’s a calculator for that. 

Medicine has accumulated hundreds of these clinical scores and decision-making tools, and their numbers continue to grow along with the scale of clinical data. But just because a calculator exists doesn’t mean doctors should always trust its output. 

“In clinical practice, a lot of the tools that we use, we genuinely have no idea how limited it is in its validation,” said health systems researcher and gastroenterologist Shazia Siddique. That is why MDCalc, the company Siddique joined last year, is launching a quality-rating system to apply to the more than 800 clinical tools and calculators that doctors use through its site.

Continue to STAT+ to read the full story…

This post was originally published here. 

At a May MAHA Institute summit organized around the theme of “overmedicalization,” the health secretary announced an action plan to promote psychiatric deprescribing. At first look, it seemed innocuous. The Substance Abuse and Mental Health Services Administration (SAMHSA) would study prescribing trends and publish fact sheets. Medicare would clarify how clinicians can be paid for the attentive work of tapering a patient off of a medication (which is already a part of routine clinical care). Webinars would teach prevention and “holistic” care. A technical expert panel would convene over the summer to make further recommendations. 

In reality, this announcement, and the steady stream of actions over the past 18 months, mark a quiet rewriting of the vocabulary of American mental health care — a massive rhetorical shift enacted while programs and protections that would actually solve the problem are dismantled.

Read the rest…

This post was originally published here. 

For the last year, a small California startup has been making extraordinary claims about the ability of its technology to potentially treat Duchenne muscular dystrophy — and maybe a slew of other genetic diseases, too.

The company, Sonothera, does not yet have clinical data. But it’s presented data in animals so stunning that other experts can’t quite wrap their minds around it.

“I find it hard to believe,” said Eric Olson, molecular biology chair at UT-Southwestern Medical Center. “It seems a bit too good to be true,” said Jeffrey Chamberlain, a longtime Duchenne gene therapy expert at the University of Washington.

Continue to STAT+ to read the full story…

This post was originally published here. 

CHICAGO — United Airlines Holdings Inc. raised its full-year earnings outlook Wednesday after reporting stronger-than-expected second-quarter results, saying resilient demand for premium cabins, international travel and corporate bookings helped offset higher operating costs and ongoing industry capacity growth.

The Chicago-based carrier reported quarterly earnings that exceeded Wall Street expectations, prompting management to increase its outlook for the remainder of 2026 despite continued uncertainty surrounding fuel prices and the broader economy.

The results reinforced a growing divide within the airline industry, with carriers benefiting from premium and international travel continuing to outperform airlines more dependent on domestic leisure passengers.

Premium Travelers Continue Spending

United said demand for premium seating remained one of the company’s strongest growth drivers during the quarter.

Business travelers and high-end leisure customers continued paying higher fares for premium cabins on both domestic and international routes, supporting stronger margins despite elevated labor and operating expenses.

Executives said international travel also remained particularly robust, with transatlantic and Pacific routes continuing to generate healthy demand throughout the summer travel season.

That strength has allowed United to command higher ticket prices while maintaining solid passenger loads across much of its network.

Corporate Travel Holds Up

Corporate travel also remained resilient, providing another boost to revenue.

Large companies continued sending employees on business trips despite ongoing economic uncertainty, helping stabilize one of the airline’s highest-margin customer segments.

Management said both business and leisure travelers continue prioritizing travel spending, even as consumers remain selective in other discretionary purchases.

The combination has supported stronger-than-expected revenue growth across United’s global network.

Outlook Improves

Following the quarter, United raised its full-year earnings guidance, reflecting management’s confidence that travel demand will remain healthy through the second half of the year.

Executives acknowledged that fuel prices, geopolitical developments and macroeconomic conditions remain important variables but said booking trends continue supporting a favorable outlook.

The airline also continues investing in fleet modernization, customer experience improvements and international route expansion as part of its long-term growth strategy.

Industry Showing Signs of Stability

United’s results add to growing evidence that the airline industry has entered a more stable phase after several years of pandemic-related disruption.

While airlines continue facing higher labor costs, aircraft delivery delays and operational challenges, demand has remained remarkably resilient.

Premium travel has emerged as one of the industry’s strongest profit drivers, allowing major network carriers to offset weakness in some lower-priced fare categories.

What Investors Will Watch

Investors will now focus on whether strong booking trends continue into the fall and holiday travel seasons.

Attention will also remain on fuel prices, aircraft deliveries and consumer spending as airlines prepare schedules for 2027.

For now, United’s results suggest travelers continue placing a high priority on air travel, particularly international and premium experiences, giving the carrier confidence to raise expectations for the remainder of the year.

JBizNews Desk | Chicago

© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

An 18-year-old from Bat Yam was arrested on Thursday night on suspicion of being involved in throwing a fragmentation grenade at the Japanika branch in Kiryat Ono.

On Monday, July 13, a fragmentation grenade was thrown at the Kiryat Ono branch as part of the wave of grenade attacks on Japanika chain branches in central Israel. 

In the span of a few hours, police announced two grenade explosions, a pipe bomb attack, and an attempted arson. Three of the incidents targeted branches of the Japanika restaurant chain, owned by businessman and Beitar Jerusalem owner Barak Abramov.

The suspect is expected to appear before the Tel Aviv Magistrate’s Court on Friday, where police will request his detention be extended to facilitate the ongoing investigation into the incidents.

In a statement on Tuesday morning, Israel Police said that the thrown grenades were stolen IDF equipment.

Police arrested Musli family crime boss in connection with the attacks

Israel Police arrested Musli crime family boss Yossi Musli on Tuesday night in connection with a series of attacks targeting the Japanika restaurant chain, according to Israeli media reports. 

For years, brothers Yossi and Eli Musli have managed to stay ahead of police, who suspect them of involvement in a long series of murders and attempted murders targeting their rivals.

The criminal organization they lead began in southern Tel Aviv and developed into a powerful network that some have described as a global empire. It is estimated to be worth more than half a billion shekels.

Police suspect the organization of involvement in illegal gambling, extortion, high-interest black-market loans, operating casinos abroad, and other criminal activities.

They also suspect that another brother, Shay, runs a criminal organization in South Africa

This post was originally published on here. 

Environmental Protection Minister Idit Silman declared the Nile crocodile a “cultivated wild animal” in a move intended to allow the Israel Prison Service to station crocodiles around prisons, despite opposition from her ministry’s legal adviser and the Israel Nature and Parks Authority, Ynet reported on Thursday.

Silman issued the declaration to enable National Security Minister Itamar Ben-Gvir to establish his proposed “crocodile prison.” Pressure was placed on the Israel Nature and Parks Authority several months ago to allow the National Security Ministry to receive crocodiles from Hamat Gader and position them around prisons holding security prisoners. The program was expected to be piloted at Ketziot Prison.

The Nature and Parks Authority said the proposal was not feasible because such wild animals may be held only for educational, research, and public information purposes.

“We need to protect them, not have them protect us. That is not the spirit of the law,” officials tried to explain to Ben-Gvir and Silman.

In an attempt to obtain approval for the plan, a request was made to declare the Nile crocodile a “cultivated wild animal.” Crocodiles had previously been given that designation to allow them to be raised commercially for their skins.

Legal objections to the crocodile prison plan

In the past, crocodile farming has led to numerous problems, including incidents of crocodiles escaping into the wild and risks to human life. Former environmental protection minister Gilad Erdan ended the practice following a recommendation from the advisory committee of the Nature and Parks Authority’s plenum.

Silman effectively decided to revive a dead letter in the Wildlife Protection Law. In practice, however, she created a new category: a cultivated wild animal kept for security purposes. Her declaration stated that the animals would be held by a security organization, subject to the environmental protection minister’s approval of the security need.

The move therefore goes beyond a regulation and would require primary legislation rather than a ministerial decision.

The Environmental Protection Ministry’s legal adviser, attorney Neta Drori, wrote to Silman last month that there was insufficient professional and factual evidence to proceed as the minister wished. She added that there was no known professional precedent for using crocodiles as a security measure at modern prisons, contrary to the Prison Service’s claim that they had been used for this purpose in the US and South America.

“With regard to the use in the United States, it was noted that this was a short-lived trial that was discontinued. It apparently took place in an area where crocodiles already occur in the wild, and there is therefore no basis for comparison,” Drori wrote.

The ministry’s legal adviser said the Prison Service’s request also required an in-depth examination of animal welfare and public safety concerns.

“Although Prison Service officials said they are aware of and prepared to ensure the animals’ physical welfare, among other things based on their experience with dogs, the organization apparently has no expertise in raising dangerous wild animals such as crocodiles,” she wrote.

Drori also explained that the legal process would require consultation with bodies including the Nature and Parks Authority’s plenum and relevant government officials, as well as publication of the proposal for public comment. This was necessary because professional officials believed crocodile farming posed critical risks.

She concluded her letter with a clear message: “In light of this, our position is that the conditions for a declaration under the law have not been met and that there is a legal impediment to advancing the declaration as requested.”

Silman disregarded legal adviser’s position

Silman decided to disregard the legal adviser’s position, arguing that a senior professional official at the Nature and Parks Authority had said the authority did not oppose the Prison Service’s initiative and that an approved framework used in the past already existed.

Several weeks ago, Ben-Gvir and Silman met with the Nature and Parks Authority’s director-general and the Environmental Protection Ministry’s legal adviser and said they wanted crocodiles to be placed around a prison. The legal adviser made clear that this could not be done and that there was no legal authority to approve it, but Silman persisted.

The Nature and Parks Authority’s plenum is expected to convene soon, and the issue will again be raised after Silman bypassed her own ministry’s legal adviser.

“The minister is acting contrary to her own legal adviser, contrary to the legal opinion of the Israel Nature and Parks Authority, contrary to the authority’s plenum, and contrary to the law. In other words, there is no legal basis for this,” a professional official said.

Silman had not issued a response at the time of publication.

This post was originally published on here. 

Jon Ossoff, the Jewish senator from Georgia and the focus of speculation about a 2028 run for the presidency, is prepared to be the target of an address Thursday night by President Donald Trump. 

Ossoff told reporters that if Trump, as expected, questions his and Sen. Raphael Warnock’s 2021 election wins, then the president would be “calling Georgia voters illegitimate.” 

Trump has repeatedly claimed without basis that his 2020 presidential election defeat in Georgia, and wins by Democrats Ossoff and Warnock in runoffs the following January, were rigged.

He has deployed federal law enforcement to Georgia to search for evidence of fraud, even though repeated probes have uncovered nothing. 

The speech comes as Ossoff has gained national attention for his repeated attacks on the president in his reelection bid against Trump-endorsed Rep. Mike Collins.

Ossoff could be the Democratic presidential nominee for 2028

Ossoff’s battle with Trump could fuel buzz for his vying for the Democratic presidential nomination in 2028. 

Ossoff has repeatedly denied interest in running for president this cycle. But Democratic pollster Adam Carlson imagined an excerpt from a “Former President Ossoff’s memoir in 2060.”

“I wasn’t planning on running for president. It was never an ambition of mine,” Carlson wrote on X/Twitter, following initial reports that Trump’s address could come as soon as Monday. “Then Trump did that super weird address on July 13, 2026 and here we are.”

Were he to run and win, Ossoff, 39, would be the first Jewish president of the United States, and his Jewish identity has crept into discussions about his potential candidacy.

He has drawn comparisons to Barack Obama, who said in 2006 that he “will not” run for president, two years before he did so successfully.

Support from left-wing figures

The buzz around Ossoff has largely focused on his sharp criticism of Trump, attracting some prominent left-wing figures. Progressives such as Gen Z commentator Jack Cocchiarella and Zohran Mamdani adviser Morris Katz have lauded Ossoff’s messaging. 

Left-wing streamer Hasan Piker, a harsh Israel critic who has drawn allegations of antisemitism, said Ossoff “will be my dark horse pick, depending on how he presents himself if he has ambitions for higher office.”

One subject that Ossoff has largely steered clear of during his reelection campaign is Israel, a growing wedge issue among Democrats and a litmus test for democratic socialists like Piker.

While multiple possible presidential candidates have sworn off the pro-Israel lobbying group AIPAC, Ossoff has not weighed in on the group.

Ossoff’s views on Israel

Ossoff has positioned himself as an Israel supporter who opposes Prime Minister Benjamin Netanyahu’s government. Just over a month after Hamas’ October 7, 2023, attack on Israel, he referred to himself as a “pro-Israel Jewish American” in an address. He said he was praying for the Israeli hostages’ freedom and urges “mercy for the innocent civilians in Gaza.”

He has since voted to block some weapons sales to the country, along with an increasing number of Senate Democrats who have questioned military assistance to Israel as the war has devastated Gaza, while voting to allow the sale of defensive weapons.

He wrote in July 2025 that “the United States must continue to support the Israeli people, who face the persistent threat of rocket and missile attack and have been subjected to intense aerial bombardment from Iran, Lebanon, and Yemen.”

Ossoff’s first vote against weapons in November 2024 spurred a critical open letter from several Georgia Jewish organizations including synagogues, Jewish schools, the local Anti-Defamation League chapter and other groups. His vote also drew the attention of AIPAC, which released 30-second ads attacking US senators, including Ossoff, who had voted to block weapons sales.

Ossoff could unite the Democratic Party

Radio host Eric Messersmith said last month that, in an effort to win over a party that is divided on Israel, Ossoff “might be the Democrat that can thread the needle because even though he’s Jewish, he’s very critical of the Israeli government, very critical of Benjamin Netanyahu.”

“He has credibility on that issue, so it’s possible that I think he could fill that lane in between the two extremes of the Democratic party,” Messersmith said in a widely circulated conversation on CNN.

CNN’s Elex Michaelson drew criticism online when he added, “As a Jew, some people read a little more Jewish than other people, and Jon Ossoff may not read as Jewish as [Pennsylvania Gov.] Josh Shapiro does, for whatever’s that worth.” Michaelson later apologized. 

Ossoff has deep ties to the local Jewish community, and has spoken about the impact of growing up around his uncle who was a Holocaust survivor.

Living among survivors “has a profound impact on how I view the State of Israel, recognizing that the State of Israel was established 75 years ago as Jews rebuilt in the ashes of the Holocaust, and sought to establish a secure homeland for the Jewish people,” Ossoff told the American Jewish Committee in May 2023.

Ossoff’s Georgia campaign

The Georgia Democrat’s team reported that Ossoff raised $20 million in the year’s second quarter, ending it with $42 million in cash on hand. 

Jewish Insider reported that some Jewish Georgians are torn. Collins has faced accusations of antisemitism and having ties to the far right. Collins’ son-in-law is a white nationalist social media influencer who has shared antisemitic material and Nazi imagery, CNN reported on Thursday. Collins has said some of his own statements were misunderstood, and has defended himself by citing his support for Israel.

“Donald Trump’s handpicked candidate Mike Collins is a notorious bigot, antisemite, and extremist,” Ossoff posted on social media last month.

Ahead of Trump’s address, Ossoff said he expects the president “to use whatever he puts out there on Thursday as a pretext” to interfere in the November election, or “to lay the groundwork for challenging the result.”

This post was originally published on here. 

German Foreign Minister Johann Wadephul has proposed replacing the expiring UN peacekeeping mission in Lebanon with an EU-mandated force to prevent a security vacuum, he told the RedaktionsNetzwerk Deutschland.

“We should examine in the EU whether we can ensure that no security vacuum arises with a European mandate following the UNIFIL mission,” Wadephul said in an interview published on Friday.

The UNIFIL mission expires on December 31, 2026. Germany’s parliament extended the country’s participation in the mission for the final time just weeks ago.

Wadephul said Lebanon, with a stabilizing government, represented “one of the most hopeful developments in the region at the moment.”

Lebanon and Israel held ambassador-level talks at the US embassy in Rome on Tuesday and Wednesday — their sixth round of face-to-face negotiations since a ​new war erupted on March 2 between Israel and Lebanese armed group ​Hezbollah, triggered by the wider regional conflict.

IDF withdrawal, end to Hezbollah terror

An EU-mandated force could “create the conditions for the Israeli army to withdraw without Hezbollah returning with its terror,” the minister added.

The proposal comes as European nations seek to maintain regional stability while balancing relations with Israel and Lebanon.

Israel’s IDF is currently positioned within a “buffer zone” approximately 10 km (6 miles) into Lebanon along the entire Israeli border to bolster Israel’s defense against Hezbollah.

Lebanon and Israel resumed talks on Tuesday in Rome, with Beirut hoping for progress towards securing an Israeli withdrawal from south Lebanon under a US-brokered deal, although expectations for swift progress were low.

US-led diplomacy has emerged since Hezbollah and Israel returned to war on March 2 amid the wider regional conflict, moving forward despite strong objections from the Iran-backed group, which believes only Iranian pressure on Washington can secure an end to the war and Israeli withdrawal.

Iran demanded an end to the war in Lebanon as part of its interim deal with Washington signed last month, but the agreement has been shaken over the last week by renewed US-Iranian hostilities in the Gulf.

The Jerusalem Post staff contributed to this report.

This post was originally published on here. 

Malaysia will immediately deport any Israeli citizens found in the country, Prime Minister Anwar Ibrahim said Wednesday, as federal authorities investigate allegations that Israelis using dual citizenship were participating in a technology-focused community in Johor’s Forest City. 

“We will not allow it,” Anwar told reporters. “If there are Israeli nationals, since we do not recognize Israel, they will be deported immediately.” 

The investigation centers on Network School, a co-living community for startup founders and digital nomads established by former Coinbase executive Balaji Srinivasan. The project, located in the China-backed Forest City development across the Johor Strait from Singapore, came under scrutiny after an online promotional video drew widespread attention. 

In the video, residents describe living on “a man-made island near Singapore,” while Srinivasan says, “We’re building Silicon Valley outside Silicon Valley.” 

The promotion also generated criticism online. One social media user wrote: “Sounds like a cult, definitely operates like a cult, recruits like a cult.” 

Malaysia doesn’t allow Israeli citizens to enter the country

The Johor state government subsequently called for a federal investigation into both the commune’s activities and the nationalities of those taking part. 

Malaysia’s Immigration Department later announced that it had inspected 266 foreign nationals from 40 countries at the site and found that all possessed valid travel documents. Officials said, however, that broader inquiries into the identities and activities of those involved remain ongoing. 

Anwar also instructed authorities to examine the project’s business operations, including its premises licenses, accommodation arrangements and land use. He said any violations should be met with “firm action without compromise.” 

Malaysia has no diplomatic relations with Israel and does not permit Israeli passport holders to enter the country without special government approval. Authorities acknowledged that people with dual citizenship may, in some cases, enter using a passport issued by another country. 

Anwar said the government would not compromise on either national security or its political position on Israel. The prime minister has maintained a strongly pro-Palestinian stance and open ties with Hamas following the escalation of the conflict in Gaza.

This post was originally published on here. 

I have been thinking a lot about advocacy lately.

Not the loud kind. Not the performative kind. Not the kind that tries to take credit for work that only happens when a lot of people come to the table.

I am talking about the kind of advocacy that is harder to see from the outside, but often far more important. The kind where government, industry and community partners listen to each other. The kind that recently helped shape a proposed $100 million Southern California Rebuild Fund for families. 

That is the kind of advocacy our industry needs more of. The kind where policymakers are willing to engage before every detail is settled. The kind where lenders, servicers, technology partners, data providers and associations bring practical information into the conversation. The goal is not to win the argument, but to help shape something that can actually work for the people it is intended to serve.

The real meaning of advocacy

California is not short on housing policy ideas.

In 2023, Governor Newsom signed a housing package of fifty-six bills. In 2024, the Terner Center tracked more than 215 housing-related bills introduced in California, representing roughly 10% of all new bills. And California’s Statewide Housing Plan calls for more than 2.5 million new homes by 2030, with at least one million of those homes affordable to lower-income Californians.

Those numbers tell us something important.

The challenge is not attention. Housing is clearly a priority. The harder question is whether the programs, policies and tools we create can actually work once they reach a family, a lender, a servicer, a local government, a technology platform or a loan file.

From policy ideas to real-world impact

That is why the proposed $100 million Southern California Rebuild Fund matters.

It matters because families are still trying to figure out how to move forward after losing homes, stability, routines, memories and, in many cases, any clear financial path to rebuild.

It matters because even when insurance exists, the math does not always work. Rebuilding costs can exceed insurance proceeds due to higher construction costs, constrained labor and long permitting timelines. Families are left to solve that gap. 

For months, California MBA has been engaged on the wildfire recovery issue because our members see the problem from the ground level. Our members see where policy meets underwriting, where good intentions run into investor requirements, where borrower communication breaks down and where insurance proceeds fall short, leaving families unable to rebuild. 

This is not just a political issue. It is a housing challenge, a financing challenge and, most importantly, a challenge facing real families trying to recover. 

Temporary relief tools like forbearance are needed, but they are not a long-term solution. At some point, a family cannot live inside a forbearance agreement. They need a path to rebuild. 

And that is where our industry has a responsibility to lean in. That experience has value, but only if we bring it to the table. 

Bridging the rebuilding gap

The Governor’s office engaged with stakeholders to understand the challenge and look for solutions. Lenders contributed real construction lending knowledge, technology partners helped shape ideas for creating a portal to connect homeowners with resources and data providers helped provide a clearer picture of the scale needed. No single organization could solve this problem alone. 

That is not politics as usual. That is problem-solving.

This is where associations can play a meaningful role. We are positioned to bring stakeholders together to translate ideas into workable solutions. 

Sometimes people think about advocacy as simply opposing legislation. And yes, there are moments when that is necessary. We must push back, raise concerns, explain unintended consequences and fight for our members and the consumers they serve.

But advocacy at its best is not just saying no. It is building the better yes. It explains how a program will function once it leaves the press release and enters the real world. It is connecting government with the people who must operationalize the idea.

Because when policy does not work, people feel it. Recovery slows. Confusion grows. Costs rise. Trust gets damaged. But when policy is shaped with practical input, outcomes improve in measurable ways.

That is what this proposed Rebuild Fund represents.

Building the “better yes”

It is not perfect. No program is. There will still be tough questions about program design, lender participation, borrower eligibility, consumer education, implementation, timing and execution. A proposal still must become a workable program.

But this is a meaningful step. And it deserves recognition.

The Governor’s office did not have to prioritize this in a difficult budget environment. They did not have to look for a targeted financing solution. They did not have to engage with our industry in the way they did. But they did, and that matters. 

For California MBA, this is exactly where we want to be as an association: in the room helping build solutions. Ensuring policymakers understand how lending and servicing work, how consumers experience programs and how innovative ideas can be structured so they actually deliver.

At the end of the day, the goal is not to win a policy argument. The goal is to help people rebuild. To help families move forward. And to ensure relief is not just announced, but actually accessible. There is a difference between a program that sounds good and a program that works.

I am proud of the role the California MBA has played in this conversation and proud of the members who leaned in.

At a time when it is easy to be cynical, this effort is a reminder that collaboration still works. That is the kind of advocacy our industry needs more of – smarter, not louder advocacy. Advocacy that says: here is the problem, here is what we know, here is what we know, what will not work and a path that might.

That is where California MBA will continue to lean in.

Because when advocacy is done right, it is not background noise. It is leadership.

Paul Gigliotti is the CEO of California MBA
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

This post was originally published on here. 

GE Aerospace reported strong second-quarter results on Thursday, July 16, raising its full-year earnings and cash-flow outlook after continued strength in its commercial aviation services business offset concerns over higher fuel prices and global airline capacity reductions. The company said demand for engine maintenance and replacement parts remains exceptionally strong as airlines continue operating older aircraft amid persistent shortages of new jets and engines. 

The aerospace giant now expects adjusted earnings of $7.65 to $7.85 per share for 2026, up from its previous forecast of $7.10 to $7.40. GE also increased its expected free cash flow to between $8.9 billion and $9.2 billion, reflecting continued demand across its high-margin commercial services business. 

The results exceeded Wall Street expectations.

Second-quarter GAAP revenue rose 21% to $13.35 billion, while adjusted revenue increased 24% to $12.63 billion. Adjusted earnings reached $2.02 per share, beating analyst estimates, while total orders climbed 17% to $16.5 billion, extending the company’s already substantial backlog. 

Commercial Aviation Continues Driving Growth

The biggest contributor to GE Aerospace’s performance remains commercial aviation.

Although airlines around the world have reduced some schedules because of higher fuel costs and geopolitical uncertainty, carriers continue investing heavily in aircraft maintenance.

Unlike discretionary spending, engine overhauls cannot be delayed indefinitely.

Aircraft shortages caused by production delays at major manufacturers have forced airlines to keep older fleets flying longer than originally planned. Every additional flight hour increases demand for inspections, repairs and replacement parts.

GE Aerospace said its overhaul facilities remain heavily booked, while demand for spare parts continues exceeding available supply.

The company now holds approximately $170 billion in commercial services backlog, providing significant visibility into future revenue. GE expects double-digit growth in its commercial services business to continue through at least 2027. 

Supply Chain Challenges Persist

Despite the strong quarter, executives acknowledged that supply-chain constraints remain one of the company’s largest operational challenges.

Material shortages continue delaying delivery of some components, particularly spare parts used in commercial aviation.

GE said it is investing in manufacturing capacity, supplier expansion and facility upgrades to improve production while supporting both engine manufacturing and aftermarket service demand.

The company also continues upgrading durability improvements for its LEAP family of engines, one of the industry’s most widely used next-generation commercial aircraft engines.

Defense Business Adds Momentum

Beyond commercial aviation, GE Aerospace also reported continued growth within its defense and propulsion technologies business.

Military engine demand remained healthy during the quarter, contributing additional revenue growth alongside commercial operations.

The combination of commercial services and defense continues providing GE with diversified revenue streams that have helped offset broader economic uncertainty.

Market Reaction

Despite the strong financial results and higher guidance, GE Aerospace shares traded lower during Thursday’s session.

Investors focused on moderating order growth and broader market weakness affecting industrial and aerospace stocks.

Analysts noted that while order growth remains strong, it has slowed from the exceptionally rapid pace reported earlier this year.

Even so, the company’s improved outlook demonstrates continued confidence in long-term aviation demand.

Why It Matters

GE Aerospace sits at the center of the global aviation industry.

Its engines power thousands of commercial aircraft worldwide, making the company’s results an important indicator of airline activity, global travel demand and industrial manufacturing.

The latest earnings suggest airlines remain willing to spend aggressively on maintenance even as they manage higher operating costs.

That resilience supports not only GE Aerospace but also suppliers, maintenance providers, airports and manufacturers throughout the aviation ecosystem.

With international travel continuing to recover and aircraft production still constrained, the aftermarket business remains one of the industry’s strongest profit drivers.

For now, GE Aerospace appears well positioned to benefit from that trend.

JBizNews Desk | Cincinnati

© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

The U.S. Food and Drug Administration said Thursday that Taco Bell will stop using lettuce from a supplier linked to a multistate cyclosporiasis outbreak, as federal health officials investigate more than 1,600 illnesses across five states.

The announcement came after Taco Bell said earlier Thursday that it had voluntarily removed potentially affected lettuce from a supplier in select states where cases have been linked to the outbreak.

“Based on ongoing conversations with public health officials, and out of an abundance of caution, Taco Bell has taken immediate action to voluntarily remove potentially impacted lettuce from a supplier in select states,” Taco Bell Corp. said in a statement provided to FOX Business.

“The affected ingredient from our supplier is being indefinitely removed from our supply chain nationwide and will be replaced within 24 hours in select states,” the statement continued.

TACO BELL INVESTIGATED AS LETTUCE EMERGES AS POSSIBLE SOURCE OF CYCLOSPORIASIS OUTBREAK

While the FDA and Taco Bell did not identify the supplier, the agency said its traceback investigation identified a single supplier of shredded iceberg lettuce from Mexico used by Taco Bell locations where infected customers ate before becoming ill.

The Washington Post reported Thursday that investigators have identified California-based Taylor Farms as a potential supplier of the iceberg lettuce identified in the agency’s traceback investigation as part of the outbreak.

FOX Business has reached out to Taylor Farms for comment.

The FDA said it is investigating cases in Indiana, Kentucky, Michigan, Ohio and West Virginia, and advised consumers in those states not to eat shredded iceberg lettuce from Mexico served at Taco Bell restaurants.

GENERAL MILLS PULLS MORE THAN 735,000 PILLSBURY ROLLS FROM SHELVES OVER POSSIBLE GLASS CONTAMINATION

According to the Centers for Disease Control and Prevention(CDC), 1,644 people infected with Cyclospora who reported eating at Taco Bell have been reported across Indiana, Kentucky, Michigan, Ohio and West Virginia. The agency said 94 people have been hospitalized, and no deaths have been reported.

Illnesses tied to the outbreak began between May 13 and July 13, 2026. CDC said the true number of sick people is likely higher and noted that state health departments may report different totals because some include probable cases, while CDC and FDA are reporting laboratory-confirmed cases.

CDC also said it is investigating other cyclosporiasis illnesses nationally that are unrelated to the Taco Bell-linked outbreak.

OBAMACARE EXCHANGE FLAW EXPOSED AMERICANS TO UNEXPECTED HEALTH PLAN SWITCHES, WATCHDOG FINDS

According to the CDC, cyclosporiasis is a parasitic intestinal illness that people can contract by consuming contaminated food or water. Symptoms include prolonged watery diarrhea, nausea and other gastrointestinal illness.

Earlier this week, Taco Bell said it removed a limited number of ingredients from some restaurants as a precautionary measure.

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Taco Bell operates more than 8,700 restaurants worldwide and serves more than 40 million customers each week in the United States, according to the company’s website.

FOX Business’ Kristen Altus and Fox News Digital’s Melissa Rudy, along with Reuters, contributed to this report.

This post was originally published here. 

United Airlines is planning to offer passengers flight changes free of charge to avoid landing at the newly renamed President Donald J. Trump International Airport in Florida, according to an internal memo that appears aimed at customers who object to the airport’s new name.

Passengers who object to landing at the airport — previously Palm Beach International Airport — may be moved to Fort Lauderdale or Miami without having to pay extra, according to an internal memo obtained by Live And Let’s Fly.

“If a customer does not want to fly to the airport, use your empowerment to offer acceptable alternatives such as Fort Lauderdale Airport (FLL) or Miami International Airport (MIA),” the memo to reservation agents reads.

The memo even suggests a response to customers who object to landing at the renamed airport.

FAA BEGINS DJT TRANSITION AS TRUMP AIRPORT NAME TAKES EFFECT

“I understand that you’d rather not fly to this airport anymore. We can look at nearby airports like Fort Lauderdale or Miami instead. Is that an acceptable alternative?” the guidance says.

The agents are directed to process the change as an even exchange, effectively making the flight change free of charge for travelers.

Fort Lauderdale is roughly 45 miles south of West Palm Beach, while Miami is about 72 miles away, giving passengers alternative access to South Florida without stepping foot at President Donald J. Trump International Airport.

Still, agents are advised to offer an “acceptable alternative,” according to the memo, suggesting a flight change remains subject to availability and discretion permitted by the airline.

Airlines generally do not allow complimentary destination changes because a traveler objects to the person an airport was named after.

United is also expected to update its systems as the airport transitions from Palm Beach International Airport to President Donald J. Trump International Airport, according to the memo. The airport’s commercial passenger code is expected to remain PBI until the IATA code changes to DJT on Aug. 18.

FOX Business has reached out to United for comment.

This comes after outraged customers flooded the airport’s online contact form with complaints after the airport was renamed last week in honor of the current president.

The airport has said the name change is required by state law and does not affect its ownership, governance or operations.

The airport had posted a message above its comments form acknowledging the name change “may be received in different ways by our passengers.”

Many customers who responded to the form were furious about the name change and the airport’s disclaimer, with several vowing to boycott the airport, according to NOTUS, which obtained the messages through a public records request.

TREASURY UNVEILS $1 GOLD COIN WITH TRUMP’S IMAGE ON FRONT

“It’s truly entertaining that you had to add a disclaimer to this form explaining the renaming of your airport after our racist, xenophobic, misogynistic 47th president,” one person wrote.

Another said, “Hopefully you’ll have plenty of airbags to catch the barfs from people as they drive up.”

“How do we continue to get on our knees for such a narcissistic criminal so-called president?” another wrote.

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“I am writing to assure you that as long as you are calling this airport anything closely related to ‘TRUMP’ I will NEVER FLY INTO THERE. NEVER! You have 100% lost all my family’s business. Despicable move!” another added.

While airports have been named after other presidents, including former Presidents John F. Kennedy and Ronald Reagan, Trump is the first to have an airport named after him while he is still in office.

This post was originally published here. 

The opposition bloc is expected to gain 62 seats in the next election, while the current coalition is projected to fall to 48, according to the latest poll published on Friday by Maariv.

Against the backdrop of Prime Minister Benjamin Netanyahu’s legislative blitz before the Knesset’s dissolution, the latest Maariv poll revealed that the opposition coalition, led by Gadi Eisenkot’s Yashar!, is expected to win a majority of seats in the October 27, 2026 elections.

The poll found that Netanyahu’s Likud is losing seats and is tied for first place with Yashar, with both at 22 mandates.

Shas stands at only seven, which is the lowest since the 2022 election when it received 11 seats. The Religious Zionist Party maintains its four seats in this week’s poll, while Otzma Yehudit loses seats, dropping to seven.

Blue and White and Balad will not cross the current electoral threshold of 3.25%, the percentage of the national vote required to gain a seat in the Knesset.

Most Israelis oppose including haredi parties in coalition

The Maariv poll also found that 83% of voters oppose the inclusion of Haredi (ultra-Orthodox) parties in the coalition that is formed after the elections, while 8% support it.

In contrast, 70% of voters support adding an Arab party to the coalition after elections, while 10% oppose the move and 20% say it doesn’t matter or they have no opinion.

The public also lacks confidence in the current government’s ability to make the right decisions for Israel in the months leading up to the election: only 38% of voters believe it can, while 55% think it won’t.

The survey was conducted on July 8-9 by Maariv in collaboration with Panel4ALL Research, led by Menachem Lazar. It involved 500 respondents, representing a representative sample of the adult population in the State of Israel aged 18 and over, Jews and Arabs. The maximum sampling error in the survey is 4.4%.

This post was originally published on here. 

TOKYO — According to disclosures filed with the Tokyo Stock Exchange, official market data from the Japan Exchange Group, and company filings, shares of SoftBank Group Corp. fell more than 9% Friday as a broad sell-off in artificial intelligence and semiconductor-related stocks spread across Asia, following steep losses on Wall Street that erased billions of dollars in market value from AI leaders and chipmakers. 

The decline marked one of SoftBank’s sharpest single-day losses this year and reflected growing investor concerns over whether the massive wave of spending on artificial intelligence infrastructure will generate returns sufficient to justify elevated market valuations.

SoftBank has become one of the world’s largest investors in artificial intelligence through its holdings in Arm Holdings, investments in AI startups, and multi-billion-dollar commitments to AI infrastructure projects. As sentiment toward the sector weakened, investors broadly reduced exposure to companies viewed as heavily tied to the AI investment cycle. 

The selling extended well beyond SoftBank. Japanese semiconductor equipment manufacturers, including Advantest and Tokyo Electron, also posted significant losses, while technology suppliers across South Korea and Taiwan came under heavy pressure as investors reassessed expectations for AI-driven earnings growth. 

In South Korea, major memory chip producers Samsung Electronics and SK Hynix experienced sharp declines, contributing to broad weakness in the Korean equity market. Taiwan’s semiconductor sector also retreated despite continued strong demand for advanced chips used in artificial intelligence applications. 

The latest wave of selling followed a difficult trading session on Wall Street, where semiconductor manufacturers, AI infrastructure companies, and other high-growth technology stocks declined as investors questioned whether the industry’s unprecedented capital expenditures could continue at the current pace. The pullback reflected a broader shift toward risk reduction after months of exceptional gains fueled by enthusiasm surrounding generative AI. 

Despite the market volatility, industry fundamentals remain strong. Major cloud computing providers and technology companies continue investing hundreds of billions of dollars in AI data centers, advanced processors, networking equipment, and energy infrastructure. Demand for high-performance computing remains elevated as businesses accelerate deployment of generative AI applications across nearly every sector of the economy. 

Analysts note that recent market movements appear driven more by valuation concerns than by evidence of weakening demand. After substantial gains over the past year, many AI-related companies were trading at historically high multiples, leaving little room for disappointment when investors reassessed future earnings expectations. 

For SoftBank, the decline underscores how closely the company’s market value has become tied to the outlook for artificial intelligence. Through its ownership stake in Arm Holdings and continued investments in AI technologies, SoftBank remains among the companies most exposed to shifts in investor sentiment surrounding the global AI boom.

Market participants will now focus on upcoming corporate earnings reports and capital spending guidance from the world’s largest technology companies. Those results are expected to provide investors with a clearer indication of whether demand for AI infrastructure remains strong enough to support continued expansion across the semiconductor industry. 


JBizNews Desk | Tokyo

© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

The Israeli government distributed dozens of drones, rangers, and other equipment to farms on the eastern border of the country in a ceremony last week in the Jordan Valley.

Finance Minister Bezalel Smotrich and National Missions Minister Orit Strock attended the ceremony held at the Zarzir Farm. Chairman of the Settlement Division Yishai Merling and Head of the Jordan Valley Council David Elhayani were both there as well.

“We continue to thwart the vision of a Palestinian terror state by establishing farms and settlements all across the country,” Smotrich said. “Every night, drones enter here intending to bring weapons to the Arabs in Judea and Samaria and Arab Israelis to create a new October 7.”

The ceremony took place just one day after the Defense Ministry established the Eastern Border Directorate, identifying the border with Jordan as an increasingly vulnerable corridor for Iranian-backed weapons to be illegally brought into Israel. 

The Directorate aims to create a framework to “bring all of the state’s capabilities to the longest border area of the State of Israel,” according to Defense Ministry Director-General Maj.-Gen. (res.) Amir Baram. 

Strock: Eastern border plan is ‘reality-changing’

“Iran and its proxies’ plan to destroy Israel has indeed weakened throughout the war, but looking ahead, the raid from the east is a developing threat that must be prepared for,” he added.

“The Eastern Border plan is a strategic, reality-changing plan,” Strock elaborated at the ceremony. “The plan will fix an ongoing injustice towards the most beautiful region of the country, expanding the settled area further east and west, doubling the size of the territory and the number of residents, and increasing the number of settlements tenfold.”

This is a continuation of Strock and Smotrich’s efforts to support farms and outposts in the West Bank. They attended several ceremonies together in 2025, giving equipment to farming outposts in Sde Ephraim and Meitarim Farm in the South Hebron Hills.

David Elhayani, head of the Jordan Valley Council, spoke directly to the farmers.

“Your location here today beyond the security fence is not just a ceremonial event …Your presence here, together with the equipment and security components you bring with you, proves that the Israeli government understands what we’re saying and performing day in and day out on the ground: The Jordan Valley is the eastern wall of protection for the State of Israel,” he said.

This post was originally published on here. 

US President Donald Trump declassified intelligence on Thursday that he maintained showed Chinese interference in US elections, reviving his long-running attacks on election security despite a US intelligence assessment that found no evidence Beijing affected the 2020 vote that he lost.

The 25-minute prime-time address underscored Trump’s effort to make election security a central political issue ahead of November’s midterm elections, when his fellow Republicans will be defending their slender congressional majorities.

Trump used his remarks to again press Republicans in Congress to pass legislation imposing new voter identification and citizenship requirements, despite longstanding findings that voter fraud in US elections is rare. The bill has stalled in the Senate amid fierce Democratic opposition.

Trump said the declassified documents would reveal “shocking vulnerabilities in our election infrastructure.” But many appeared to show the opposite or were unrelated to US election infrastructure at all.

The speech came at a challenging political moment for Trump and Republicans, with his approval rating weighed down by the unpopular Iran war and high energy prices. Trump only briefly mentioned the war at the outset, saying the US was “winning big,” while listing a series of domestic accomplishments, including tax cuts and his immigration crackdown, before turning to election security.

The president said he was declassifying sensitive information that showed China had illicitly acquired 220 million US voter files, including names, addresses, and other data used to register to vote.

He asserted that members of the US intelligence community deliberately suppressed information about the extent of China’s activities.

His allegations contradict an unclassified 2021 US intelligence community assessment that found no indications any foreign actor attempted to alter or succeeded in altering “any technical aspect” of the 2020 presidential election vote, including voter registrations, ballots, tabulations or results.

That assessment was conducted under John Ratcliffe, then Trump’s director of national intelligence and now his CIA director.

The report also found China had pursued an effort dating to at least 2008 to collect information on US voters, public opinion, political parties, candidates and top government officials, likely aiming to use the material to predict election results.

Two people familiar with the matter said that US voter data obtained by China was not confidential – voter files are routinely purchased by political consultants – and could not be manipulated.

Ahead of Trump’s speech, some White House officials expressed concern that disclosing the China information could be misleading, sources told Reuters.

Trump’s harsh language about China risked rocking a relationship that has steadied following last year’s costly trade war. Trump hopes to meet with Chinese President Xi Jinping in September about improving trade relations.

Before Trump began speaking, a spokesperson for the Chinese embassy, Liu Chang, said in response to a request for comment, “China has never and will never interfere in the presidential elections of the US”

Familiar claims going back years

Trump has spent years raising doubts about electoral outcomes, falsely asserting that his 2020 loss to Democrat Joe Biden was rigged. He has also advanced other false claims, including that mail-in balloting is rife with fraud, voting machines are vulnerable, and non-citizen voting is widespread.

Numerous courts and vote recounts found no evidence of large-scale fraud in the 2020 election.

Trump said the documents would reveal serious weaknesses in election security. But many either appeared to be inconsistent with that assertion or were unrelated to US election infrastructure:

* One CIA document, prepared last month, concerned Venezuela’s election, not America’s.

* “We assess that vote tabulation systems would be difficult to manipulate on a wide enough scale to compromise election results,” another document said.

* A third document, produced by the CIA, detailed efforts by Chinese spies to target Biden’s campaign and noted that Beijing “does not currently intend to covertly interfere to try to sway the outcome of the election,” although it said China might later decide to do so.

“Trump’s shocking ‘bombshells’ about China are totally bogus,” Democratic Senator Mark Warner, vice chair of the Senate Intelligence Committee, said in a statement during the speech. “The fact is our intelligence agencies unanimously agreed that China did not even try to change a single vote in the 2020 election.”

Political headwinds

While Trump cast US elections as highly vulnerable, he did not provide evidence of any actual votes in 2020 that were altered or manipulated.

Two of the three major US television networks and CNN decided not to broadcast the prime-time address on their primary platforms, eschewing a practice typically reserved for major addresses on issues of national import.

Since returning to office in January 2025, Trump has sought to expand federal power over the administration of elections, which legally resides with state governments under the US Constitution.

Trump used his speech to again call on congressional Republicans to advance a bill, the SAVE America Act, that would require photo ID to vote and proof of US citizenship to register and would significantly curtail mail-in voting. Democrats and voting-rights advocates say the legislation is intended to suppress legitimate votes.

The bill has passed the Republican-controlled US House of Representatives several times with a simple majority, but it does not have the 60 votes to overcome a Democratic filibuster in the Senate.

Some Republican leaders have urged Trump to focus on issues that matter most to Americans, including high living costs, rather than focus on the 2020 vote.

Democrats need to flip only three Republican seats to take a majority in the 435-seat US House of Representatives. They face an uphill battle to win a majority in the 100-seat Senate with critical races unfolding in Republican-leaning states.

Opinion polls show majorities of US voters opposed to the Iran war and unhappy with Trump’s stewardship of the economy.

This post was originally published on here. 

Iran’s Revolutionary Guards claimed on Friday they had attacked a US special operations command center at al-Tanf in Syria in retaliation for the killing of Iranian soldiers in Iranshahr, Iranian state media reported.

Reuters could not independently verify the claim, and there was no immediate comment from the Syrian government or the US military.

The US military said in February it completed a withdrawal from the al-Tanf base positioned at the tri-border confluence of Syria, Jordan and Iraq.

Syria has sought to avoid being drawn into the regional conflict that has engulfed neighboring countries, including Lebanon, where Hezbollah has fought Israeli forces, and Iraq, where Iran-backed armed groups have launched drone and rocket attacks.

Syrian President Ahmed al-Sharaa said in March that his country would stay out of any conflict unless it came under attack.

“Unless Syria is targeted by any party, Syria will remain outside any conflict,” Sharaa said at an event hosted by the Chatham House think tank in London.

The Guards also said Iran retained full control of the Strait of Hormuz and that no oil or gas would be exported through the waterway for as long as US attacks continued, according to the state media report.

This is a developing story.

This post was originally published on here. 

SHANGHAI — According to Chinese state media and remarks delivered Friday at the opening of the 2026 World Artificial Intelligence Conference (WAIC), Chinese President Xi Jinping unveiled Beijing’s most ambitious artificial intelligence strategy to date, promoting open-source AI as the foundation of future global innovation while positioning China as an alternative to U.S. leadership in artificial intelligence governance. 

In his keynote address, Xi urged countries to embrace what he called a “rare historic opportunity” created by artificial intelligence and argued that AI development should be based on openness, collaboration, and shared technological progress rather than being dominated by any single nation.

Although Xi did not mention the United States by name, his remarks were widely interpreted as a response to Washington’s export controls on advanced semiconductors, AI chips, and other technologies that have limited China’s access to cutting-edge computing hardware. Xi warned against countries using national security as justification for restricting technological cooperation and said such actions risk creating “new historical injustices” between developed and developing nations. 

China is increasingly promoting open-source AI models as a strategic advantage over the proprietary approach favored by many leading American companies. Chinese developers, including Moonshot AI, have recently introduced increasingly capable open-weight models, while firms such as DeepSeek and others continue expanding their international reach.

Xi announced the creation of the World AI Cooperation Organisation (WAICO), headquartered in Shanghai, with 29 participating countries. The organization is intended to coordinate international AI governance, technical standards, research cooperation, and technology sharing, particularly among developing nations across Africa, Asia, Latin America, and the Middle East. 

China also committed to providing 5,000 AI training opportunities over the next five years for professionals from developing countries and expanding access to Chinese AI-powered public services, including meteorological forecasting systems designed to improve disaster preparedness. 

While emphasizing openness, Xi also called for stronger safeguards surrounding advanced AI systems. He urged governments to ensure human oversight, improve early-warning mechanisms for emerging AI risks, and establish international governance frameworks that keep artificial intelligence under meaningful human control. 

The speech comes as competition between the world’s two largest economies increasingly centers on artificial intelligence. The United States continues to lead many frontier AI systems through companies such as OpenAI, Anthropic, and Google, while China has accelerated domestic AI development following U.S. export restrictions on advanced chips and semiconductor equipment. Beijing has increasingly emphasized open-source ecosystems and domestically developed computing infrastructure as a way to reduce dependence on foreign technology. 

More than 1,100 companies participated in this year’s Shanghai conference, including major Chinese technology firms showcasing new AI chips, computing clusters, robotics, and large language models. The event highlighted China’s determination to become a central player in setting global AI standards as governments worldwide race to establish rules governing one of the fastest-growing technologies in history. 


JBizNews Desk | Shanghai

© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

US President Donald Trump delivered a prime-time speech on Thursday focused on election security, bringing renewed attention to his long-running complaints about voting systems and election administration as Republicans face challenging midterm elections in November.

The White House was deciding whether the president’s remarks would include the disclosure of sensitive intelligence related to China’s intention or ability to interfere in the 2020 US election, Reuters reported on Wednesday, citing four sources. Some Trump officials worried the information could be misleading, sources said.

Trump has spent years raising doubts about electoral outcomes, falsely asserting that his 2020 loss to Democrat Joe Biden was rigged. He has also advanced other false claims, including that mail-in balloting is rife with fraud, voting machines are vulnerable, and non-citizen voting is widespread.

Numerous courts and vote recounts found no evidence of large-scale fraud in the 2020 election.

China intelligence under review 

The China intelligence, collected during Trump’s first term from 2017 to 2021, did not show that Beijing had manipulated or changed votes, sources told Reuters.

A White House task force led by conservative journalist John Solomon recently asked the intelligence community for documents outlining the information and has spent the past several weeks reviewing them ahead of Trump’s speech, one source familiar with the group’s work said.

The final draft of the speech was not ready as of midday on Thursday and remained subject to changes from the president, a person familiar with the plans said. Several senior White House officials were anxious about what the president would ultimately say in his speech and how that could affect Republicans’ chances in November’s midterms, the source said.

“The president will be making a very important announcement with respect to the integrity of our elections,” White House spokeswoman Karoline Leavitt had said on Thursday, adding that “everything he is saying will be backed by facts and by evidence.”

The Office of the Director of National Intelligence did not respond to requests for comment on the Reuters report on Wednesday, and the CIA declined to comment.

Democratic members of the House Permanent Select Committee on Intelligence sent a letter to the acting director of national intelligence, Bill Pulte, along with the leaders of the FBI, the Central Intelligence Agency and the National Security Agency, warning them not to allow Trump to “weaponize intelligence to support false claims about election security.”

Since returning to office in January 2025, Trump has sought to expand federal power over the administration of elections, which legally resides with state governments under the US Constitution.

In recent months, he has also pressured Senate Republicans to advance a bill, the SAVE America Act, that would require photo ID to vote and proof of US citizenship to register while also mandating that states share voter registration information with the federal government. Democrats and voting-rights advocates say that voter fraud is exceedingly rare and argue the legislation would suppress legitimate votes.

Some Republican leaders have urged Trump to focus on issues that matter most to Americans, including high living costs, rather than focus on the 2020 vote.

“I don’t know what he’s going to say,” Senate Majority Leader John Thune said when asked on Wednesday whether he would advise Trump to avoid talking about the 2020 election. “The only thing I can tell you is, we are focused on the 2026 election, at least I am, and I think most of my colleagues are.”

Republicans are navigating political headwinds as the midterm elections approach, with Trump’s approval rating underwater and voters deeply frustrated by the Iran war and attendant high energy prices.

Democrats need to flip only three Republican seats to take a majority in the US House of Representatives. They face an uphill battle to win a Senate majority, however, with critical races unfolding in Republican-leaning states.

Democrats are preparing for the White House to attempt to manipulate November’s election, Senate Democratic leader Chuck Schumer told reporters on Wednesday.

“They know they can’t win the election fair and square,” he said. “So we don’t put it past them to try whatever they can.”

ABC, NBC will not air Trump’s election security speech on broadcast networks

Two of the three major US television networks decided not to broadcast a planned prime-time address on Thursday by President Donald Trump on their primary platforms, risking the ire of an administration that has placed unprecedented pressure on American media.

Trump called the two television networks “fake news” during the speech, adding that both should have their licenses revoked for their decision. 

Networks have broad First Amendment rights to decide what they choose to broadcast, experts noted. But historically, broadcasters have carried most such speeches on the grounds that they provide information of public importance.

Late Thursday afternoon, a spokesperson for ABC News said the network will run Trump’s speech on its ABC News Live streaming platform and ABC News Radio – not its broadcast channel.

NBC News planned to carry the president’s remarks on its free streaming service, NBC News NOW, but decided not air the speech on its main broadcast channel, according to a person familiar with the matter. The company declined to comment.

The ABC and NBC streaming channels generally draw a fraction of the viewers that their traditional broadcast signals reach.

During a Thursday press briefing, Leavitt said that “it is also very possible” Trump will mention the current situation with Iran and the economy at the top of the speech, and could possibly address a range of topics.

She said that is “all the more reason” for the networks to carry the speech live, and for Americans to tune in.

Trump has spent years sowing doubts about electoral outcomes, falsely claiming his 2020 loss to Democrat Joe Biden was rigged. He has also claimed, without evidence, that mail-in voting is rife with fraud, that voting machines are vulnerable to manipulation, and that non-citizen voting is widespread.

Some Democrats, including US Representative Alexandria Ocasio-Cortez, have urged networks not to air the speech, arguing Trump is likely to repeat debunked claims.

A spokesperson for the third major US network, CBS, did not respond to Reuters’ questions about whether it planned to carry the address live. CNN and Fox News FOXA.O also did not respond to a request for comment.

At CBS, the takeover of Paramount PSKY.O by David Ellison, whose billionaire father Larry is a Trump ally, has roiled the newsroom and prompted the departure of senior staff from the news magazine “60 Minutes.” Some employees have alleged political interference in editorial decisions, which the network has denied.

Ellison is now awaiting FCC approval for Paramount’s acquisition of Warner Bros. Discovery, which could give him control of CNN, a network Trump has long criticized for what he says is unfair coverage. The US Justice Department’s Antitrust Division gave its blessing to the deal last month.

The speech comes at a sensitive moment for US media.

Walt Disney-owned ABC is facing two pending inquiries from the Federal Communications Commission, including one examining whether its daytime talk show “The View” violated equal-time rules by interviewing a Democratic Senate candidate in Texas.

The FCC could move as early as next month to begin withdrawing the licenses for Disney’s eight company-owned ABC stations.

Trump has repeatedly attacked NBC and its parent company, Comcast CMCSA.O, which he has dubbed “Concast.” Last month he stormed out of an interview with NBC political reporter Kristen Welker after calling the network “a one-sided crooked network.”

Comcast last month announced plans to split into two publicly traded companies through a spinoff of NBCUniversal and Sky. Analysts have said the move could make NBCUniversal an attractive takeover target.

FCC Chair Brendan Carr is also investigating Comcast and its NBC unit over its diversity practices, which Carr said were the basis for the decision to expedite the reviews of Disney’s ABC stations.

The conservative-leaning cable news network Fox News, owned by Rupert Murdoch, generally carries all of Trump’s speeches but may also be wary of this one.

In 2023, the network had to pay out $787 million to settle a defamation suit over its airing of false claims about the 2020 election.

On Wednesday, Carr said in an interview with NewsNation that he thought the broadcast networks should air Trump’s remarks.

“This is something that the American people have every right to be able to get over the airwaves,” Carr said.

Carr did not immediately respond to a request for comment Thursday.

This post was originally published on here. 

Israeli bridge enjoyed a remarkable European Championship, with the national teams in the Under-26, Under-21 and Under-16 categories all claiming silver medals after competing for gold until the final stages of the tournament in Riga, Latvia.

Israel was represented by four teams at the championships, with three finishing second in Europe. The achievement follows the two bronze medals recently won by Israel’s Open and Mixed Pairs teams at the European Championship for senior national teams.

The Under-26 team led the standings for much of the competition and remained in contention for the title until the very end. The team consisted of Nir Hotorski and Aviv Zeitak, Daniel Mesika and Ido Mushkovitz, and Lia Patleko and Koren Reter. Danny Loonstein served as captain, with Ron Pechtman as coach.

Israel’s Under-21 team also claimed silver after a dramatic and extremely close finish.

On the final day, Israel faced Poland in a direct battle for the gold medal and ultimately finished second in Europe following a thrilling photo finish. The team included Eitan Gissin and Sophie Zeidenberg-Gat, Itamar Herbst and Yoav Shor, and Noam Tzarfati and Tommy Hiba. Tomer Loonstein was the captain, with Pechtman serving as coach.

An ‘incredible success’

The Under-16 team also completed an outstanding championship, securing silver after a dramatic final day that saw Israel climb into second place in the standings.

The team consisted of Yahli Hiba and Raam Hotorski, Hadassah and Naomi Weinvitz, and Aviv Zeidenberg-Gat and Shira Lahav. Kfir Meital was the captain, while Moshiko Meyuhas and Ofek Sabach served as coaches.

“It is an incredible success,” said Danny Loonstein, chairman of the Israel Bridge Federation, head of the delegation and captain of the Under-26 team. “We sent eight teams across nine categories in the senior and youth competitions and returned with a full haul of medals: bronze medals for the Open and Mixed Pairs senior teams, and silver medals for the Under-16, Under-21 and Under-26 teams.”

“I am proud of every member of the delegation, who gave their very best. We will see you next year at the World Championship, with the goal of taking another step forward.”

Ayelet organization congratulates teams

Arik Kaplan, president and CEO of Ayelet, the umbrella organization for Israel’s non-Olympic sports, also congratulated the teams.

“Having three Israeli youth teams on the podium at the same championship is impressive evidence of the strength of the next generation of Israeli sports,” Kaplan said. “Beyond the medals, the young players represented Israel with pride, determination and excellence throughout the competition. This is a tremendous achievement that demonstrates the strength of Israeli bridge across all age groups and promises an exciting future for the sport on the international stage.”

This post was originally published on here. 

Shorty, the aptly named 4-foot-8-inch medical clown, stood between two young patients riding coin-operated toy cars in the lobby of Tel Aviv’s children’s hospital, alternately blowing and eating bubbles as the children giggled.

Between mouthfuls, Shorty asked the girl’s mother why her daughter, about 6ֿ, was in the hospital. A tonsil operation, the mother said, performed by Dr. Shaked.

Shaked is the Hebrew word for tonsil. Shorty stopped blowing bubbles and turned to face her. “You’re joking,” she said, slapping her palm theatrically to her forehead. “That’s it, I’m done. I have no reason to be here.”

Decked out in a baroque lace cravat, disco-themed baseball cap and a pin that reads “Life is short and so am I,” Shorty is the alter ego of Shira Friedlander, one of seven Dream Doctors medical clowns assigned to Dana-Dwek Children’s Hospital at Tel Aviv Sourasky Medical Center, also known as Ichilov.

Israel has become a global leader of medical clowning over the past two and a half decades, with two main organizations and the world’s first full bachelor’s degree program in medical clowning, at Haifa University. In the last three years, since the Oct. 7, 2023, Hamas attack that has reshaped Israeli society, clowning has taken on a renewed role in supporting healing and resilience.

Simchat Halev operates a network of about 500 volunteer therapeutic clowns in hospitals, with a focus on entertainment, emotional relief and morale. Dream Doctors, founded in 2002, developed a more clinical model, placing about 100 salaried medical clowns in more than 30 hospitals, where they work as paraprofessionals with hospital teams and even take part in medical procedures. At Ichilov, that means the clowns can be brought into operating rooms, oncology wards and transplant units. The nonprofit has also pioneered medical clowning in rehabilitation, trauma care and adult wards.

Atay Citron, who founded the medical clowning degree program at Haifa University, wrote in 2014 that after observing medical clowns in Canada, the United States, New Zealand and Australia, and interviewing clown doctors from the Netherlands, Germany, Russia and Brazil, he had not found stories resembling the Israeli Dream Doctors’ “audacity and insane courage.” He described their ethos as one of independent spirit, brash humor, bold innovation, risk-taking and creativity, alongside formal training that emphasizes careful listening, hospital rules and cooperation with medical staff.

That difference was clear to Ines Rosner, who co-founded a German medical clowning organization and has traveled to Israel about eight times to learn from Israeli practitioners.

“In Israel, it’s common that you have an idea and you just do it,” she said. “In Germany, that’s not possible.”

While medical clowns are a normal presence inside Israeli hospitals, in Germany “most hospitals think of them as visitors who come in the afternoons and have some fun,” Rosner said. The pandemic made that status clear, she said, when clowns were among the first asked to leave hospitals.

Independent studies have found that medical clowning can reduce anxiety in children undergoing hospital procedures, with a 2024 review of 15 randomized trials involving 2,252 children also finding reductions in pain and crying time. One Israeli study found that children undergoing blood draws cried about two-thirds less when accompanied by a medical clown.

“It isn’t a nice-to-have,” Friedlander said. “It’s part of recovery. We’re part of a giant system.”

What that looked like, on an ordinary Wednesday morning spent shadowing Friedlander, was relentless, disarming and downright hilarious. She answered questions about medical clowning while breaking off every few sentences to do it: stopping a child entering the elevator to ask, “Wait, do you fart in elevators?” or sizing up a tall boy on crutches, his leg in a cast, and instructing him to “chop off a little more” as punishment for having “stolen all the tallness in the world.”

Friedlander said the freedom of clowning comes from letting go of the attempt to hold everything in the room at once — the illness, the family, the fear, the joke, and the potential responses to it.

“I hold on to what I’m doing right now, and that’s enough for this moment,” she said. “It takes a deep kind of trust that everything happening is exactly right for this instant. Then I feel very free, because my only obligation is to be present in the room and whatever comes out will come out.”

When that happens, she said, “wonderful things come out because the ego is put aside and two hearts meet and the world is blown wide open.”

Medical clowns come from mixed backgrounds, with some never having finished high school and others arriving from related professions — such as circus or theater — or different fields altogether. Friedlander had been in drama classes since childhood, but acting as a career “felt empty,” she said. At Haifa University’s medical clowning program, where courses include how to step into silliness, she discovered performance as medicine.

“I remember my jaw dropping,” she said. “It was like Mr. Bean falling from the sky. It checked all the boxes.”

Maor Gillerman, whose clown name is Udi-Lama, came to medical clowning after Oct. 7. A scriptwriter who had been active in the campaign for better conditions for Israeli screenwriters, Gillerman said his activism no longer seemed like the most useful place to put his energy after the attacks.

“Coming to the hospital is my favorite time of the week,” he said. “It feels like the most meaningful thing I do, even if I don’t always know what difference I’ve made.”

Dush the medical clown visits patients hospitalized at Hadassah Ein Karem hospital in Jerusalem on March 15, 2026. (credit: Dor Pazuelo/Flash90)

Smadar Harpak, whose clown name is Shemesh, is one of Dream Doctors’ most veteran medical clowns, with 17 years in the group. When someone is hospitalized, she said, the family and the patient “can’t think of anything at all except getting better,” and the role of the clown is to break that tunnel vision.

In 2015, Harpak helped create the Clownbulance, which is “like an ambulance, but for treating the soul, not the body,” she said. The vehicle takes seriously ill children, and others carrying trauma, out for a day of fun. Rosner is developing a German Clownbulance in Baden-Württemberg based on the Israeli version, after training with Harpak.

After children who had been taken hostage in Gaza on Oct. 7 were released, the Clownbulance took some of them on a jeep excursion.

“There are kids who have really lost faith in humanity,” Harpak said. “They can’t just be trapped in a hospital. I want them to go out, remember life outside, and just be normal for a day.”

Asked what, exactly, was normal about riding around with clowns in a Clownbulance, Harpak slipped back into Shemesh, put her hands on her hips, cocked her head to one side and asked, “Do I look normal to you?”

The model had also been tested in trauma settings before Oct. 7. Citron described a Dream Doctor at Barzilai Hospital entering a room of Sderot schoolchildren after a rocket exploded near their bus, ignoring a psychiatrist’s signal to leave and helping turn the encounter into play. The hospital later changed its protocol, putting medical clowns first in line to meet shell-shocked patients after a missile strike in Ashkelon.

A much larger role following Oct. 7

But after Oct. 7, medical clowning took on a much larger role in Israel’s trauma wards. Rehabilitative clowning, a subfield developed in Israel with wounded soldiers before the war, became part of the emergency response, with clowns working around the clock with traumatized soldiers, civilians, evacuees and hostage families, and alongside psychiatrists, psychologists and therapists at an IDF rehabilitation center. One Dream Doctors clown said she had worked with more than 1,000 traumatized soldiers in the year after the attacks.

Harpak also organized an event bringing together former hostages and wounded soldiers in Ichilov’s rehabilitation ward, calling it a “full-circle moment” in which soldiers were able to say, “This is what we fought for.”

Harpak rejected the idea that certain moments are inappropriate for clowning.

“The clown can be present even in the most sensitive spaces,” she said, because the work begins with “choosing not to see any of them as a victim.”

“When I clown, I’m saying, this happened and what can I do about it?” she said. “I choose to emphasize the positive.”

Friedlander took it a step further. Medical staff, she said, have to focus on the part of the patient that is sick. The clown looks for the part that is still healthy.

“Whatever situation the patient is in, there is always a healthy side,” Friedlander said. “The clown’s job is to help a person look at things from a different place. When everything is stuck and clogged, finding and opening that part allows things to flow, to move.”

That also means accepting when a child is not in the mood. Friedlander said the clown persona gives her an “anchor” for the rejection.

“It’s not personal against Shorty,” she said. “The clown comes to say, you don’t have to play by any rules. You don’t have to please me, or play the game of, ‘OK, clown, be funny.’”

A rare form of control

Gillerman described the same idea as a rare form of control inside the hospital.

“It’s not always about making the kid laugh,” he said. “It’s also about their freedom to choose. The clown is the only one a kid can tell, ‘Not right now.’ With the doctors and nurses, the child has no choice but to do what they say.”

“A clown’s superpower is paying close attention to feelings,” Friedlander said. “Everyone is a little angry that they’re in the hospital — some more, some less. The fact that I don’t dismiss any emotion gives it so much space, and that allows for a different kind of freedom.”

The same applies to the clown, she said. If she arrives at the hospital in a bad mood, and it lingers even after she puts on Shorty’s costume, she does not try to bury it.

“If the here and now is angry, then that’s what we’ll live in that moment,” she said. “I will try and bring it out in the best way for the connection I want to create with the person in front of me.”

Back in the lobby, the girl who had undergone the tonsil operation watched Shorty eat another bubble, then opened her mouth and did the same.

Her mother stared at her, astonished. She explained that her daughter had not eaten at all in two days. For Friedlander, it was a small but meaningful win. Through bubbles and play, the girl was practicing the motions of eating again.

“That’s exactly the idea. Just be a clown,” Shorty told the mother. “Bubbles are the best food for tonsils anyway.”

This post was originally published on here. 

Sirens sounded across Bahrain and Kuwait early Friday morning as Iran launched retaliatory strikes against US military infrastructure in the region, as the renewed conflict between the two countries enters its sixth day.

Bahrain’s Interior Ministry urged citizens to head to safe locations following the activation of sirens in a post to X/Twitter.

Iran’s semi-official Tasnim News Agency reported that the target of the  Iranian attack on Bahrain was US helicopters and reconnaissance aircraft located at the Shakir Airbase, the country’s military airport.

“In response to the enemy’s hostile action of targeting urban infrastructure and innocent people, the Iranian Army, in the eleventh phase of the “Thunder” operation, targeted the location where helicopters and US military P8 surveillance aircraft are stationed,” said Tasnim ’s report, citing the Iranian army. 

Iran’s army added that it would respond “quickly and decisively” to any counter attacks from the US , stating that any retaliation would have a “heavy cost.” 

Kuwait intercepts Iranian drones, missiles

In Kuwait, the nation’s air defenses intercepted Iranian missiles and drones. 

In a post on X, Kuwait ‘s army clarified that any explosions heard are a result of air defense systems intercepting incoming attacks. 

Qatar says it thwarted missile attack, security threat over

Qatar’s Defense Ministry said on Friday its armed forces thwarted a missile attack, while the Interior Ministry said the security threat was over.

Several booms were heard in the capital Doha as a government security alert was sent to mobile phones, according to a witness. The ministries did not say who was behind the attack.

This is a developing story. Reuters contributed to this report. 

This post was originally published on here. 

ISLAMABAD- The ninth OIC Ministerial Conference on Women wrapped up on Monday afternoon, with the Organization of Islamic Cooperation (OIC) urging member states to strengthen women’s participation in politics, the economy, education and society.  

One of the resulting Islamabad Declaration’s most significant statements was its explicit reference to Afghanistan, expressing deep concern over continued restrictions on girls’ education and women’s employment, which it described as inconsistent with Islamic values. It called for the removal of educational and professional barriers to ensure the full, equal, and meaningful participation of Afghan women and girls in public life.   

The declaration reaffirmed the OIC’s broader commitment to advancing women‘s socio-economic and political empowerment across the Muslim world, noting that “the empowerment of women and girls is essential to the progress, resilience and prosperity of OIC societies,” and adding that investing in women’s education, skills, leadership, protection and economic participation is “an investment in the future of the Ummah.”   

More than 190 delegates, participants

Held under the theme “Socio-Economic and Political Empowerment of Women in the OIC Countries: Challenges and Way Forward,” the conference brought together more than 190 delegates and participants—including ministers, senior officials and representatives from the OIC’s 57 member states—to discuss women’s education, economic participation, social inclusion and empowerment within the framework of women’s rights in Islam.  

OIC Assistant Secretary-General Tarig Ali Bakheet, speaking on behalf of OIC Secretary-General Hissein Brahim Taha, highlighted that elevating women is a top priority requiring dedicated resources and political effort.   

He cautioned that approving the conference resolutions is not the end of the road, emphasizing that actual progress hinges on sustained teamwork, proper financing, and unwavering political commitment.  

Pakistan’s federal minister for law, justice and human rights, Azam Nazeer Tarar, assumed the chairmanship of the 9th OIC Ministerial Conference on Women, reaffirming Pakistan’s commitment to promoting the socio-economic and political empowerment of women across the Muslim world through collective action and cooperation.  

‘An economic necessity’

Addressing the conference, Tarar described women’s empowerment as “not only a social imperative but also an economic necessity, a governance priority and a cornerstone of sustainable development.”   

Women’s Development Organization Executive Director Sarah Al-Shoura highlighted the organization’s efforts to strengthen cooperation among member states and promote policies aimed at expanding women’s participation in education, economic development, and leadership.   

A notable development at the conference was the participation of a Syrian delegation led by Syria’s minister of social affairs and labour, Hind Kabawat, which marked the country’s return to the OIC Ministerial Conference on Women after years of isolation and a prolonged absence.  She described the participation as an important step in strengthening Syria’s international engagement.  

The Syrian Arab News Agency quoted Kabawat as saying that Syria’s presence presents a key opportunity for increased cooperation and the exchange of expertise with representatives from the participating countries.  

The conference took place as women’s rights remain a major concern in several Muslim-majority countries. 

Since the Taliban returned to power in August 2021, women and girls in Afghanistan have faced sweeping restrictions, including bans on secondary and higher education, limitations on employment with most organizations, and travel restrictions requiring a male guardian.  

Although Afghanistan was invited to attend the conference, no official delegation from the Taliban-led government participated. However, a few Afghan women living in exile attended in their individual capacities. 

When contacted by The Media Line for comment on Afghanistan’s decision not to participate and on women’s rights in the country, Taliban chief spokesperson Zabihullah Mujahid did not directly answer the questions posed to him.  

Instead, Mujahid said, “Islam has made it obligatory to ensure women’s rights, including inheritance, marriage, protection from forced marriage, and dignity and honor in society.”   

He claimed that Afghan women had long been deprived of those rights and maintained that since returning to power, the Islamic Emirate had restored them. According to Mujahid, the Islamic Emirate remained committed to safeguarding all rights prescribed for Muslim women under Islamic Sharia.  

Pakistan kept the plight of Afghan women high on the agenda, with senior officials repeatedly highlighting restrictions on their rights, education and socio-economic participation.  Pakistan’s minister of state for law and justice, Aqeel Malik, described the situation facing women and girls in Afghanistan as “an alarming” test of the Muslim world’s collective conscience.  

“You really need to see the plight of those girls in Afghanistan because they are banned from attending schools and classes. This is an alarming situation,” Malik said in an interview with Saudi-based Arab News.

He argued that the OIC should use its collective diplomatic influence to press for change.  

Tahmina Safi, a former judge of the Afghan Supreme Court, told The Media Line that Islam grants women and men equal fundamental rights, including dignity, education, property, inheritance, financial autonomy, and consent to marriage, employment, and public participation.   

According to Safi, although the ruling Afghan Taliban maintain that their policies are based on Sharia, many leading Muslim scholars believe the group’s treatment of women contradicts the teachings of Islam and established principles of Islamic jurisprudence.   

She argued that the Taliban’s record of extrajudicial killings, arbitrary detentions, and systematic repression, as documented by the United Nations, cannot be reconciled with Islamic principles.   

“Unfortunately,” she said, “the Taliban have no female officials capable of representing the rights, interests, and perspectives of Afghan women who believe in the equal rights granted to them by Islam at conferences dedicated to women’s rights in Islam.”

She said that OIC member states, including Pakistan, do not recognize the Taliban as the legitimate rulers of Afghanistan. “Inviting them to participate in such meetings indirectly signals the OIC’s support for the Taliban,” Safi added.

Safi suggested that the OIC should instead engage directly with Afghan women scholars, judges, diplomats, and civil society leaders living in exile. She said a willing OIC member state, including Pakistan, could facilitate such an office (the establishment of a legitimate Afghan representative office in exile) while supporting an Afghan-led, inclusive, and legitimate political process rather than conferring legitimacy on an unrecognized authority.  

Nazifa Jalali, a Norway-based Afghan Muslim scholar and director of Dialogue Hub for Common Ground, told The Media Line that “it is essential to distinguish between Islam and the policies of the Taliban.” She said that throughout Islamic history, women had played important roles as scholars, educators, business leaders, and contributors to public life.  

Jalali argued that, in stark contrast, women and girls under Taliban rule had been systematically denied education, employment, public participation, freedom of movement, and other fundamental rights.  

She noted that UN experts, the European Union and global human rights advocates had described the situation as gender apartheid, reflecting systematic and institutionalized discrimination against women and girls.  

Jalali said that women peacefully demanding their rights had faced arbitrary detention, enforced disappearances, torture, intimidation, and violent repression. She added that documented cases also showed Taliban forces using lethal force against protesters and civilians.  

Women stand during a demonstration held under the slogan ''With our will, we will protect our revolution”, in Qamishli, Syria September 17, 2025. (credit: REUTERS/Orhan Qereman)

She emphasized that OIC member states, prominent Islamic scholars, and religious institutions had repeatedly called on the Taliban to restore girls’ education, women’s right to work, and their full participation in society, saying that this demonstrated that the Taliban’s interpretation was neither universally accepted nor representative of Islam.

From Jalali’s perspective, the international community, including the OIC, had a moral and political responsibility to continue supporting Afghan women, adding that protecting their rights was consistent with Islam’s values of justice, human dignity and knowledge.  

Dure Shawar, a leading Lahore-based female entrepreneur and participant at the OIC summit, described the conference in Islamabad as an important opportunity to strengthen cooperation on women’s empowerment across the Muslim world. 

Economic empowerment the foundation of meaningful inclusion

She argued that economic empowerment was the foundation of meaningful inclusion, saying women with greater access to education, vocational training, finance and business opportunities were better equipped to contribute to economic growth and social development.  

Shawar maintained that the adoption of the Islamabad Declaration should be viewed as the beginning of a long-term process rather than an end in itself, emphasizing that its success would ultimately depend on whether member states translated their commitments into practical reforms that removed barriers facing women entrepreneurs, professionals and future leaders.  

According to Shawar, stronger collaboration among OIC countries could open new avenues for women-led businesses through investment partnerships, regional trade and knowledge sharing.  

She added that sustained political commitment could transform the conference into a significant milestone for advancing women’s empowerment and inclusive development across the Muslim world. 

This post was originally published on here. 

The Knesset plenum on early Friday morning passed the party funding law, which includes the clause to dissolve the 25th Knesset ahead of the election period.

The bill passed with a majority of 62 supporters and no opponents.

“We are completing a four-year term; we have passed nine budgets, hundreds of laws,” said Coalition whip Ofir Katz ahead of the bill’s passing.

This is a developing story.
 

This post was originally published on here. 

The latest wave of American strikes against Iran has been completed, US Central Command (CENTCOM) announced on X/Twitter on Thursday night. 

“US forces, including fighter jets, aerial drones, and warships, launched precision munitions that hit dozens of Iranian military targets such as coastal surveillance and air defense sites, military logistics infrastructure, and maritime capabilities,” CENTCOM said. “This was the sixth consecutive night of US strikes against Iran.”

CENTCOM added that it is “further degrading Iranian military capabilities and holding Iran accountable for recent attacks on commercial shipping,” and that over 50,000 US service members stationed in the Middle East remain “vigilant, lethal, and ready.”

Video footage of US forces launching aircraft and precision munitions against Iranian military targets, released July 16, 2026. (CREDIT: US CENTRAL COMMAND)

Iran claims US attack on airport, Bandar Khamir bridge

Earlier on Thursday, Iran’s semi-official Tasnim News Agency had reported an American attack on the Iranshahr airport. According to the report, three strong explosions were heard around the airport, where Iranian armed forces are stationed.

Additionally, Iran’s semi-official Fars said a bridge in Bandar Khamir had been targeted in an attack from the US.

The Kehvarstan bridge, which crosses the Shur River in southern Iran, is a key transportation route, according to Tasnim. Traffic on the Bandar Abbas-Kehvarstan-Lar route has been suspended, it added. 

Two were injured in the attack, Iran’s semi-official YJC news agency said.

Tasnim also denied explosions in the Iranian city of Zahedan, citing on-site investigations in “key locations in the city” indicating that reports of attacks are untrue.

James Genn contributed to this report.

This post was originally published on here. 

The 25th Knesset dissolves on Friday, the first since 1988 to complete a full four-year term, and the country is formally having an election on October 27.

The calendar between here and there is already dense: The Democrats primaries on July 20, Religious Zionist Party on July 26, Likud on August 4, and final party lists due September 9. At least one new party has pushed its launch to “after Tisha B’Av” out of respect, or because focus groups during a fast week are a waste of money.

And the government is using its last days to push through what it still can, including bills touching the draft and the courts, the two rawest nerves in Israeli life, on the theory that facts created in July outlive whoever wins in October.

Politicians from at least three different camps have sat in The Jerusalem Post studio in recent months and said versions of the same two things. Off camera: This election will decide whether the country can still hold together. On camera: That’s why the other side must be crushed. The same person, 10 minutes apart, apparently untroubled by the fit.

Talmudic account of destruction delivers what a sermon will not, what a news desk will

Next week, in Jerusalem and in Johannesburg, every congregation will hear the sermon: The Second Temple fell because of sinat chinam, baseless hatred, and look at us now. True, and safe. It accuses everyone, which is a polite way of accusing no one.

The Talmud’s own account of the destruction is harsher and, three months before an election, more useful, because it does what a sermon won’t and a good news desk must. It assigns responsibility to specific people, and not the obvious ones.

“Jerusalem was destroyed on account of Kamtza and Bar Kamtza,” the Gemara opens (Gittin 55b). The first scene is famous: A man invited to a banquet by mistake, humiliated, dragged out while the leadership of Jerusalem watches from their seats. Less quoted is what the humiliated man says on his way out: “Since the Sages sat there and did not protest, evidently they were content with what he did. I will go and inform against them to the king.”

Bar Kamtza wasn’t watching the host. He was watching the audience.

Rome sends a test, an animal to be offered in the Temple on the emperor’s behalf, and Bar Kamtza blemishes it on the road, subtly, in a way only Halacha would catch. The sages hold a genuinely bad hand. Most wanted to offer the sacrifice anyway for the sake of peace with the empire.

Rabbi Zechariah ben Avkulas stopped them and said: “People will say that blemished animals may be sacrificed on the altar.” They weighed something darker, killing the informer before he could report back. He stopped that too: “People will say that one who makes a blemish on consecrated animals is put to death” (Gittin 56a).

Notice what is missing from the record. Zechariah never proposes anything. Twice he explains why the option on the table sets a bad precedent, the meeting adjourns undecided, and Rome gets its war. When the rabbis later went looking for someone to hold responsible, they passed over the informer, the host, and the emperor.

Rabbi Yochanan said: “The humility of Rabbi Zechariah ben Avkulas destroyed our Temple, burned our Sanctuary, and exiled us from our land” (Gittin 56a).

The verdict lands on the careful man, the one guarding precedent while the house is filled with smoke.

Nobody has to win an argument in a starving city

The Gemara’s second scene is the grain. Besieged Jerusalem was, at the start, a supplied city; the storehouses of three wealthy men held enough, the rabbis say, “to sustain the city for 21 years.”

A city that can eat for two decades can negotiate, stall, and outwait an emperor. The zealot militias, the biryonim, wanted war now, and when the sages proposed going out to make peace, the zealots refused, “and they arose and burned those storehouses of wheat and barley, and there was a famine” (Gittin 56a).

Nobody has to win an argument in a starving city.

Here, journalism can add something the sermon can’t: a second source. The siege of Jerusalem had an eyewitness correspondent, Yosef ben Matityahu, known to the world as Josephus, and his dispatch confirms the rabbis’ report. The warring factions inside the city torched each other’s supplies, he writes, “as if they had, on purpose, done it to serve the Romans,” and the fire consumed grain, “which would have been sufficient for a siege of many years.”

Jerusalem, he concludes, fell to a famine that would have been impossible had its own defenders not prepared the way for it (The Jewish War 5:1, Whiston translation).

Two sources, one rabbinic and one embedded with the Romans, hostile to each other on almost everything, agree on the grain. In a newsroom, that is when a story runs.

And the two scenes are one story. The men with torches could act, because the men with authority wouldn’t. History remembers the zealots as villains; the Gemara saves its verdict for the respectable people who let the moment pass.

The storehouse test to be applied to all parties

So, a proposal, and a commitment. Call it the storehouse test, and from now until October 27, this newspaper will apply it to every party that submits a list. Two questions each: What shared national asset are you prepared to burn in order to win? And what decision that costs you votes are you prepared to make anyway?

The storehouses are not hard to name. An army that belongs to no party, currently pulled at from several directions in the exemption fight. The consensus around the hostages, which so far belongs to no coalition and has to stay that way. Courts whose rulings bind even the people who loathe them. And the least glamorous asset on the books, the assumption that whoever loses in October accepts it.

Someone in every camp is quietly pricing one of these as campaign fuel. Any reader who just pictured only their opponents doing so is sitting at Bar Kamtza’s banquet among the quiet guests.

Jews abroad should not read this as someone else’s election coverage. The federation table that still seats people who disagree about Israel is a storehouse. So is the campus coalition that took 20 years to assemble and could crack in a week.

In conversations with community leaders across three continents since the October 7 massacre, the cast never changes, only the accents: Every community has its biryonim, who would rather command a smaller and purer camp, and its Zechariahs, who chair the meeting, raise the procedural concern, and go home relieved that nothing moved.

Earlier this week, this column made the case that Israeli politics is driving out its mensches, and that the country will pay for it. This is where the bill comes in, Gittin’s. The good don’t leave a field empty. It is left to whoever brought the matches.

Fairness requires saying plainly: A full Knesset term, the first in nearly four decades, is a real institutional achievement in a region where governments rarely die of old age. But the Temple was magnificent on its last morning too. A building can stand for a long time after its contents have died.

Thursday, on the synagogue floor with the Kinot, somewhere between the ancient siege and the campaign calendar, the grain will come to mind: 21 years of it. Burned by Jews. Permitted by Jews. Hold this newspaper to the test.

This post was originally published on here. 

United Airlines said Thursday, July 16, that recent fare increases have produced little measurable damage to passenger demand, giving the carrier confidence that stronger pricing can offset much of an anticipated nearly $6 billion increase in fuel costs this year.

The airline told investors during its second-quarter earnings call that bookings remain resilient even as higher oil prices tied to the Iran war push jet-fuel expenses sharply higher. United said customers continue buying tickets across premium cabins, basic economy and international routes, allowing the carrier to preserve its full-year profit outlook while preparing additional fare and schedule adjustments if energy prices remain elevated.

The development matters directly to travelers because United is signaling that ticket prices are likely to remain higher rather than retreat as fuel costs rise. The airline believes current demand is strong enough to absorb those increases without triggering a major reduction in bookings.

United reported second-quarter revenue of $17.67 billion, up 16% from a year earlier, while adjusted earnings reached $1.99 per share. The carrier raised the lower end of its full-year adjusted earnings forecast and now expects $9 to $11 per share, despite the dramatic increase in projected fuel spending.

The airline said its second-quarter fuel expense rose approximately 84% from a year earlier to about $2.3 billion. Management expects the broader fuel-price surge to add nearly $6 billion to expenses during 2026 compared with its earlier assumptions.

United has already recovered approximately half of the second-quarter increase through stronger pricing and revenue management. It expects to recover between 80% and 90% of the additional expense during the third quarter and potentially recover the full increase by the fourth quarter if current booking and pricing trends continue.

That recovery will come largely from passengers.

Airlines typically respond to sustained increases in jet-fuel prices by raising fares, reducing less-profitable flights and shifting aircraft toward routes where travelers are willing to pay more. United said it remains prepared to reduce fourth-quarter capacity further if fuel prices stay high.

For consumers, that could mean fewer discounted seats, especially on heavily traveled domestic and international routes. Travelers purchasing tickets closer to departure may face the greatest pressure because airlines generally charge more when remaining inventory becomes limited.

United said premium-cabin revenue increased 16%, while basic-economy revenue rose 11%. Cargo revenue increased 23%, and loyalty-related revenue also advanced as customers continued spending through the MileagePlus program and affiliated credit cards.

The performance suggests higher fares have not yet caused families and business travelers to abandon trips in significant numbers. Demand remains especially strong for international travel and premium seating, where passengers appear more willing to absorb increased prices.

United is also investing heavily in the passenger experience as it asks customers to pay more.

The airline said approximately 450 aircraft have now been equipped with SpaceX’s Starlink internet service, with nearly 1,000 aircraft expected to receive the technology by the end of the year. United is also expanding premium seating, upgrading aircraft interiors and adding new international routes.

Those investments are part of a broader strategy to persuade travelers that higher fares are accompanied by better service, improved connectivity and more comfortable cabins.

United also highlighted operational improvements during the quarter. Its systemwide on-time departure rate was the strongest for a second quarter since 2021, while its Newark hub recorded its best-ever second-quarter departure performance.

The airline expects adjusted third-quarter earnings of $2.50 to $3.50 per share. That outlook reflects continued pressure from higher fuel costs but also assumes that strong demand and improved pricing will continue protecting profitability.

For passengers, the message is clear: the Iran war’s impact on energy markets is increasingly moving from oil trading screens into the cost of airline tickets.

United does not currently see travelers pulling back enough to force prices lower. Unless demand weakens or fuel prices fall, airfare is likely to remain elevated as airlines pass more of the increased cost directly to customers.

JBizNews Desk | Chicago

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Abbott reported stronger-than-expected second-quarter results on Thursday, July 16, raising its full-year 2026 profit forecast after growth across its diagnostics, medical devices and pharmaceutical businesses exceeded expectations.

The healthcare company reported second-quarter revenue of $12.59 billion, a 13% increase from a year earlier, while adjusted earnings came in at $1.31 per share, surpassing analyst expectations. Based on the stronger performance, Abbott increased its full-year adjusted earnings outlook to $5.45 to $5.60 per share while reaffirming projected comparable sales growth of 6.5% to 7.5%. 

Shares surged following the announcement as investors welcomed the stronger guidance and broad-based growth across several of Abbott’s core businesses.

Diagnostics Business Delivers Standout Performance

One of the quarter’s strongest performers was Abbott’s diagnostics division.

Sales accelerated as demand increased for cancer screening technologies, laboratory testing and molecular diagnostics. The company’s expanding oncology portfolio also continued contributing to revenue growth as healthcare providers increased screening and early detection efforts.

Management said diagnostics remains one of Abbott’s highest-growth businesses and is expected to remain a key contributor throughout the second half of the year. 

Medical Devices Continue Expanding

Abbott’s medical device business also posted solid gains.

Growth was supported by cardiovascular devices, diabetes care products and structural heart technologies.

The company’s FreeStyle Libre continuous glucose monitoring platform continued generating strong global demand despite increasing competition within the diabetes technology market.

Executives also pointed to continued momentum across cardiovascular products as hospitals maintained healthy procedure volumes.

Balanced Growth Across Healthcare

Unlike many healthcare companies that rely heavily on one product line, Abbott continued benefiting from its diversified business model.

Medical devices, diagnostics, branded pharmaceuticals and nutrition products all contributed to quarterly revenue.

Although nutrition sales remained softer than some other segments, the business showed continued improvement compared with earlier quarters.

Management believes that balanced portfolio reduces volatility while providing multiple avenues for long-term growth.

Higher Guidance Reflects Confidence

Abbott’s decision to raise its earnings outlook reflects management’s confidence that current growth trends will continue.

The company now expects adjusted earnings between $5.45 and $5.60 per share for 2026, an increase from previous guidance.

Executives also reaffirmed expectations for solid organic sales growth despite ongoing global economic uncertainty.

The stronger forecast suggests Abbott expects continued demand across hospitals, physician practices and consumer healthcare markets during the remainder of the year. 

Healthcare Sector Receives Another Boost

Abbott’s strong results added to an already positive day for healthcare stocks following several upbeat earnings reports across the sector.

The performance reinforced investor confidence that demand for healthcare products and services remains resilient despite broader economic uncertainty.

Healthcare continues benefiting from aging populations, expanding diagnostic testing, technological innovation and increased demand for chronic disease management.

Looking Ahead

Abbott enters the second half of 2026 with strong momentum across multiple business segments.

The company’s combination of diagnostics, medical devices, pharmaceuticals and nutrition products continues providing diversified growth while limiting dependence on any single market.

With higher earnings guidance and continued investment in innovation, Abbott appears well positioned to build on its strong first-half performance as healthcare demand continues expanding worldwide.

JBizNews Desk | Abbott Park, Illinois

© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

UnitedHealth Group reported second-quarter results on Thursday, July 16, raising its full-year 2026 earnings outlook after stronger-than-expected performance across both its health insurance and healthcare services businesses. The company said improving medical cost trends, disciplined operations and continued expansion of its Optum division drove the stronger results, reinforcing confidence that its turnaround strategy is gaining momentum.

Investors responded positively, sending shares sharply higher following the earnings release as the nation’s largest health insurer delivered better profitability and increased guidance for the remainder of the year.

UnitedHealth reported second-quarter revenue of $112.0 billion, operating earnings of $8.0 billion, GAAP earnings of $6.04 per share, and adjusted earnings of $6.38 per share, outperforming expectations.

The company also increased its 2026 adjusted earnings guidance to between $19.50 and $20.00 per share, reflecting management’s confidence that recent operational improvements will continue through the second half of the year.

Medical Cost Trends Improve

One of the strongest contributors to the quarter was improved management of healthcare costs.

UnitedHealth’s medical care ratio, which measures the percentage of premium revenue spent on medical care, improved to 86.7%, compared with 89.4% during the same period last year.

The improvement reflects stronger pricing discipline, redesigned Medicare offerings, better reimbursement trends in portions of its Medicaid business and more efficient healthcare management across its network.

Company executives said the results demonstrate that long-term operational changes are beginning to produce meaningful financial improvements while maintaining quality patient care.

Optum Continues Driving Growth

UnitedHealth’s Optum business remained one of the company’s fastest-growing segments.

Operating income increased approximately 29% during the quarter as Optum expanded across physician services, pharmacy benefit management, healthcare technology and analytics.

The company continues investing in artificial intelligence, digital health platforms and automation designed to improve patient outcomes while reducing administrative complexity throughout the healthcare system.

Management believes technology will play an increasingly important role in improving efficiency, lowering costs and strengthening coordination between patients, providers and insurers.

Insurance Business Stabilizes

UnitedHealthcare also reported improving operating performance despite ongoing changes in enrollment following the expiration of certain pandemic-era government programs.

Although overall membership shifted modestly, profitability improved through stronger pricing and disciplined cost management.

The company said it remains focused on expanding access to affordable healthcare while maintaining financial stability across its commercial, Medicare and Medicaid businesses.

Management expects continued operational improvements throughout the remainder of 2026.

Positive Signal for the Healthcare Industry

Because UnitedHealth is the nation’s largest health insurer, its quarterly performance is closely watched as an indicator of broader healthcare industry trends.

The stronger results suggest that elevated medical costs, which pressured much of the industry over the past year, may be becoming more manageable.

Hospitals, healthcare providers, insurers and investors will be watching upcoming earnings reports to determine whether similar trends emerge across the sector.

Looking Ahead

UnitedHealth enters the second half of 2026 with renewed momentum.

The company continues investing in technology, expanding healthcare services and strengthening operational efficiency across both its insurance and healthcare businesses.

Management believes those initiatives position the company for sustainable long-term earnings growth while continuing to improve patient care and expand access to healthcare services.

The latest quarter represents more than stronger financial performance. It signals that one of America’s largest healthcare companies has regained stability and is positioning itself for continued growth in an increasingly complex healthcare environment.

JBizNews Desk | Minnetonka, Minnesota

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Target is recalling more than 200,000 children’s sandals over the potential risk of “serious injury or death” from a choking hazard.

About 211,000 Cat & Jack Toddler Girls’ Sequerah Sandals are affected by the recall, the U.S. Consumer Product Safety Commission (CPSC) announced Thursday.

The choking hazard concern is due to the possibility of decorative pearls falling off the shoes.

GENERAL MILLS PULLS MORE THAN 735,000 PILLSBURY ROLLS FROM SHELVES OVER POSSIBLE GLASS CONTAMINATION

“The sandals’ decorative pearls can fall off, posing a risk of serious injury or death from a choking hazard,” the CPSC said.

The sandals are tan and have two raffia straps with gold buckles and plastic pearls. The brand name is printed on the soles and bottoms of the shoes.

BMW RECALLS NEARLY 30K VEHICLES OVER ENGINE STARTER DEFECT THAT COULD CAUSE FIRE

The shoes were sold in sizes 5T through 12T.

The sandals were sold at Target stores across the country and online at the retailer’s website from January 2026 through May 2026 for about $20.

Target has received 23 reports of pearls falling off the shoes.

No injuries have been reported thus far in connection with the recall.

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Consumers are urged to stop using the recalled sandals immediately, keep them away from children and contact Target for a full refund.

This post was originally published here. 

Toyota is the latest company facing a lawsuit over its website’s use of online tracking technology — aka cookies — highlighting a growing legal risk for businesses that rely on digital advertising and consumer data.

A proposed class action filed Wednesday in Los Angeles County Superior Court accuses the automaker of continuing to track visitors to Toyota.com even after they declined third-party cookies, allegedly violating California privacy law.

Lead plaintiff Brittany Conner alleges Toyota installed tracking technology on users’ devices even though they opted out through the website’s cookie consent banner. 

According to the complaint, the technology allowed third parties to collect browsing activity, device information, online identifiers and other data used for targeted advertising.

TOYOTA TO INVEST $3.6B IN PLANT EXPANSION, WILL SHIFT TACOMA PRODUCTION FROM MEXICO TO TEXAS

The lawsuit alleges the tracking relied on a practice known as “fingerprinting,” which can identify internet users by combining information about their devices and browsing activity, even when traditional tracking cookies are rejected.

Toyota’s website presents visitors with a consent banner offering the option to accept or decline cookies and similar tracking technologies. The lawsuit alleges the company nevertheless deployed tracking tools after users selected “decline.”

The case comes as businesses across industries face mounting litigation under the California Invasion of Privacy Act, or CIPA, a 1967 law originally enacted to prohibit wiretapping. In recent years, however, plaintiffs have increasingly used the statute to challenge website tracking technologies and other online data collection practices.

APPLE ACCUSES OPENAI OF TELLING RECRUITS TO BRING APPLE PROTOTYPES TO INTERVIEWS

According to privacy compliance firm OneTrust, more than 800 CIPA lawsuits were filed in 2025, targeting companies over technologies that plaintiffs argue collect consumer data without users’ consent.

Several companies have recently resolved similar claims. Forbes Media agreed in May to pay $10 million to settle a proposed “trap and trace” class action, while the Los Angeles Times agreed to a $3.85 million settlement. 

DraftKings and the NFL have also been sued over alleged website tracking practices.

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Conner is represented by Pacific Trial Attorneys. The firm did not immediately respond to FOX Business’ request for comment.

Toyota did not immediately respond to FOX Business’ request for comment.

This post was originally published here

Several Arab leaders have privately urged US President Donald Trump to reconsider his support for Prime Minister Benjamin Netanyahu, Israeli public broadcaster KAN News reported on Wednesday.

According to the report, the leaders described Netanyahu and his government as “an obstacle to realizing his vision in the region.”

Additionally, Arab diplomats familiar with the discussions said regional governments increasingly view Netanyahu as an impediment to Trump’s diplomatic ambitions in the Middle East, left-leaning Israeli daily Haaretz reported.

Sources told Haaretz that several Arab leaders believe that Trump “is beginning to see Netanyahu as an obstacle to realizing his vision in the region and to advancing regional arrangements.” 

They also reportedly told the president that they lack confidence in both Netanyahu’s leadership and the current Israeli government.

The reports come as Israel prepares for elections in late October, with governments across the region closely watching how the political race develops.

Arab leaders look to sway Trump’s feelings on Israel’s leadership

KAN reported that Arab officials are seeking to shape Trump’s assessment of Israel’s leadership as he considers the future of his regional policies.

The president has continued to highlight his longstanding relationship with Netanyahu, even as he has publicly criticized the prime minister.

Trump has suggested that he has not yet decided how to approach the Israeli election and is examining the broader field of candidates.

Last month, he said that he was “very likely” to support Netanyahu. However, he followed his purported comment of support by saying that he would “need to see who is running.”

“I have a good relationship with Bibi, but he needs to be more rational,” he said. 

This post was originally published on here. 

Syrian authorities have arrested a former military officer accused of supervising the production of sarin-filled bombs used in chemical attacks between 2013 and 2017, opening a legal process that rights advocates say could expose the wider structure behind Syria’s chemical weapons program. 

The Syrian Interior Ministry said Col. Ahmad Habib Ali, a former chemical weapons specialist, headed a department at the Scientific Studies and Research Center and oversaw sarin storage and chemical production at Unit 417. 

Preliminary investigations indicate Ali supervised the production of about 20 aerial bombs, each containing roughly 250 kilograms (550 pounds) of sarin, authorities said. The munitions were allegedly used against Syrian towns and cities from 2013 to 2017. 

The investigation remains underway before the case is referred to the judiciary. Syrian Interior Ministry sources declined to provide The Media Line with details beyond the official statement, while a Syrian Justice Ministry source said the case remained with the relevant authorities. 

Syrian lawyer Louay al-Hassani told The Media Line the arrest represented “the beginning of the judicial process, not its conclusion.” Investigators must collect evidence and question witnesses and experts before determining whether the case should proceed to trial, he said. 

Potential charges include murder, crimes against humanity 

Potential charges could include murder and participation in the use of prohibited weapons, as well as war crimes or crimes against humanity if supported by evidence. 

Fadel Abdulghany, executive director of the Syrian Network for Human Rights, called the arrest “an important and positive step toward accountability” but warned that one prosecution alone would not constitute justice. 

He said chemical attacks involved an organized military and security structure and called for investigations across the chain of command. Abdulghany also urged cooperation with the Organisation for the Prohibition of Chemical Weapons (OPCW) and the International, Impartial and Independent Mechanism. 

The arrest came days after the OPCW Executive Council adopted decisions concerning Syria following increased cooperation by the country’s new authorities in identifying remnants of the former chemical weapons program. 

For Rua, who lost both parents in the August 21, 2013, sarin attack on Eastern Ghouta, the arrest offered a possible path toward answers: “The arrest won’t bring them back,” she told The Media Line. “But maybe it’s the beginning of finding the truth.” 

This post was originally published on here. 

President Isaac Herzog said that his dream is to see peace between Israel and Saudi Arabia in a Thursday interview with  Saudi Arabia’s state-owned Al-Arabiya about the unfolding situation with Iran and the prospect of normalization in the region.

“It is my dream to see peace between Israel and Saudi Arabia. I have great respect for Crown Prince Mohammed Bin Salman,” said Herzog. “The thing that we want most in Israel is to see rapprochement between the nations.”

“The dialogue between Jerusalem and Mecca should be the real gist of it, because I believe Jew and Muslim need to dwell together in this region in peace. I guess I can’t come to Riyadh just as an ordinary citizen, but I hope to be able to realize this dream and meet the Saudi Arabian leadership officially in due course.”

Further, he praised the US renewal of strikes against Iran earlier this week.

“I’m happy that the American reaction is firm so that everybody understands, especially the Iranians, that they have to go back on track if they really want to implement an exit from the war,” he said. 

Iran, in response, launched strikes against several countries in the region, including Bahrain, Kuwait, and Jordan. 

Herzog noted that he is “not surprised” by the strikes and the rapidly fraying US-Iran Memorandum of Understanding (MoU) as it follows the “Iranian pattern of behavior, which we know, it is impossible to do deals.”

“They violate them all the time. They have their own way of interpreting things that are very, very clear.”

On the Abraham Accords, Herzog said that Israel is very happy and proud of its relations with Morocco, Bahrain, and the United Arab Emirates “which is just an example of how successful it can be.”

Herzog on Israel-US relations

In a similar vein, Herzog discussed Israel’s long-time relationship with the United States.

“There is a close and good dialogue, especially in closed rooms. We can have our differences, it’s only natural, but in the end, they’re tactical,” he explained. “We all understand that we are faced with an empire of evil in Tehran, with its proxies, with its belief that the United States is the big Satan and Israel is the small Satan.”

Herzog said that he respects US President Donald Trump, US Vice President JD Vance, US Secretary of State Marco Rubio, and the entire Trump administration. 

“We work closely with them on many issues, and I believe that the grand picture, which the United States should push with Europe and others, is the connectivity between the East and the West.”

This post was originally published on here. 

US Secretary of State Marco Rubio told officials from more than 60 countries on Thursday that the United States would seek to refocus international counterterrorism efforts on what he called “far-left terror,” arguing that left-wing violence had long been overlooked.

The conference in Washington has sparked Democratic concerns that the Trump administration is politicizing counterterrorism efforts and diverting resources from other extremist threats.

In a speech, Rubio said the Islamic militancy threat was “severely diminished” due to coordinated international efforts but that rising left-wing violence was a “blind spot.”

“We can, and we must identify and map this threat and rebuild our counterterrorism architecture to defeat it,” Rubio said, citing a transnational threat from groups who hate the West and target its politicians and infrastructure.

The conference marks the Trump administration’s most significant effort yet to internationalize a counterterrorism focus that critics say lacks data support.

US President Donald Trump has made ​countering left-wing groups a priority. Trump singled out the antifa movement on the campaign trail ‌in 2024, and vowed to take action against left-wing groups he accuses of fomenting violence after the killing of conservative activist and Trump ally Charlie Kirk last year.

The Trump administration convened a law enforcement workshop in May to discuss the threat of far-left groups and would co-host a second workshop with Germany, Rubio said.

Latvia’s Foreign Minister Baiba Braze told Reuters on the sidelines of the conference that the forum also allowed countries like hers to discuss threats from Russia-backed groups and new trends in how militants of all stripes use technology.

“What is new is that it’s very much a fluid extremist environment where technology enables various actors to radicalize different groups. Sometimes it’s leftist ideology, sometimes it’s very right-wing ideology,” Braze said.

Since ⁠November, Washington has designated four European groups — Antifa Ost, the Informal Anarchist Federation/International Revolutionary Front, Armed Proletarian Justice and Revolutionary Class Self-Defense — as Foreign Terrorist Organizations, offering rewards of up to $10 ⁠million ​for information on their financing. Rubio said there would be more designations soon.

Rubio announced a new visa restriction policy targeting members of groups “who have supported or incited” violence or economic sabotage, but did not say whether any visa bans had been issued under the policy.

The US Treasury is expanding probes into the use of charitable and nonprofit structures to hide foreign influence and allow violence, Treasury Secretary Scott Bessent told the conference on Thursday.

‘Extremists within the organization’

Eleven Democratic lawmakers wrote to Rubio on Wednesday questioning the evidence for the new focus on left-wing groups and called the White House’s May counterterrorism strategy, which did not mention neo-Nazi or other far-right groups, a “politically partisan document.”

The letter, obtained by Reuters, referred to concerns that designating ⁠groups as far-left terror organizations risked targeting lawful protests and political opponents.

“We strongly urge the Department to return its focus to a serious mission set that is definitionally apolitical, data-driven, and rooted in reality, instead of rubberstamping the political priorities of extremists within the Administration whose views and policies put US national security – and the American people – at risk,” wrote the lawmakers.

The lawmakers included Representative Gregory Meeks, the ranking Democrat on the House Committee on Foreign Affairs, and William Keating, the ranking member of the subcommittee on Europe.

The State Department did not immediately respond to a request for comment on the letter.

At the conference, White House deputy chief of staff Stephen Miller said leftists were driven by “envy and hatred” and derided antifa demonstrators as “all deformed in some way, in their appearance, in their dress, in their mannerism.”

“Why is there not one normal-looking person among them? Every one of them, through the course of their life and their decisions, has scarred their body and their appearance in many different ways to the point in which their outer appearance becomes a manifestation of their inner hatred,” Miller said.

Rubio in his speech cited property damage and looting during demonstrations after the 2020 police killing of George Floyd as an example of left-wing violence that had been ignored, arguing that think tanks and journalists often agree with the goals of left-wing militants.

Rubio also said left-wing groups work with foreign states hostile to the US, citing Iranian proxy networks as “increasingly intimately tied to leftist militant groups around the world,” though he did not provide evidence of such links. He also accused Cuba’s Communist leaders of having “helped build the far left” in the United States, without offering evidence to support the claim.

This post was originally published on here. 

The New York Yankees are in advanced discussions to secure nearly $3 billion in financing from Apollo Global Management Inc., according to people familiar with the matter, in a transaction that would rank among the largest capital raises ever undertaken by a professional sports franchise. While negotiations remain ongoing and no final agreement has been announced, the proposed financing reflects a dramatic shift in how Wall Street now views premier sports organizations—not simply as teams competing for championships, but as global businesses capable of generating stable, long-term cash flow across multiple industries.

If completed, the transaction would provide the Yankees with significant new financial flexibility while keeping the franchise under the control of the Steinbrenner family. The proposed package is expected to consist primarily of debt financing together with a smaller equity investment, according to the people familiar with the discussions. The structure and final terms remain subject to negotiation and would require approval under Major League Baseball’s ownership and financing rules.

The reported financing would be executed through Yankee Global Enterprises, the holding company that owns far more than one of baseball’s most recognizable franchises. Beyond the New York Yankees, the company controls interests in AC Milan, New York City FC, the YES Network, and Legends Hospitality, giving it a diversified portfolio spanning professional sports, regional broadcasting, media rights, stadium operations, premium hospitality and global entertainment.

That diversification has become increasingly valuable to institutional investors. Rather than depending solely on ticket sales or on-field success, organizations such as the Yankees generate recurring revenue from long-term television contracts, sponsorship agreements, licensing, merchandising, digital media, premium seating, hospitality businesses and international commercial partnerships. Those predictable cash flows have helped transform elite sports franchises into assets that increasingly resemble infrastructure or media companies in the eyes of global investors.

The reported transaction is not a sale of the Yankees. Instead, the financing is expected to refinance existing obligations while providing capital for future investments, strategic initiatives and potential expansion across the organization’s broader portfolio. Maintaining ownership while accessing billions of dollars in institutional capital has become an increasingly attractive strategy for franchise owners seeking growth without relinquishing control.

For Apollo Global Management, one of the world’s largest alternative asset managers with hundreds of billions of dollars under management, the reported financing would further expand its growing presence in sports investing. Large investment firms have steadily increased exposure to professional sports as franchise values continue reaching record levels and institutional investors seek assets with durable brands, global audiences and long-term appreciation potential.

Professional sports financing has evolved dramatically over the past decade. Once dominated by traditional bank lending and family ownership, the industry has increasingly attracted private equity firms, sovereign wealth funds, pension funds and alternative asset managers. League rules have gradually adapted to permit greater institutional participation while preserving competitive balance and ownership oversight.

The Yankees remain among the world’s most valuable sports franchises despite growing financial competition throughout Major League Baseball. Record media rights, expanding sponsorship opportunities, premium experiences and international brand recognition continue to support franchise valuations that have climbed sharply across professional sports. Investors increasingly view ownership interests and financing opportunities in marquee franchises as scarce assets with substantial long-term value.

If completed, the proposed financing would stand as another milestone in the growing convergence of Wall Street and professional sports. Billion-dollar transactions that once would have been unimaginable for athletic organizations are becoming increasingly common as franchises expand into diversified global enterprises with businesses extending far beyond the playing field.

The discussions remain ongoing, and neither the New York Yankees nor Apollo Global Management has publicly confirmed the reported negotiations. No definitive agreement has been announced, and the transaction could still change before being finalized.

JBizNews Desk | New York
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JERUSALEM, Israel — Israel’s Knesset on Thursday, July 16, approved comprehensive legislation restructuring the nation’s broadcast media regulatory framework, marking one of the final major measures passed before lawmakers concluded the current legislative session ahead of the scheduled October elections. The bill, introduced by Communications Minister Shlomo Karhi, passed its second and third readings by a vote of 53-48, completing the legislative process and becoming part of Israel’s statutory framework governing the country’s broadcasting industry.

The legislation represents a broad overhaul of how television and broadcast media will be regulated in Israel. It replaces the existing regulatory structure with a new framework that consolidates oversight responsibilities under a newly established authority while updating numerous provisions governing broadcasters, television platforms and the administration of broadcast regulation.

Among the changes included in the law are revisions to broadcaster licensing requirements, regulatory oversight, media ownership rules, television audience measurement procedures and the administration of certain government advertising activities. The legislation also modifies several long-standing regulatory requirements that previously applied to licensed broadcasters and updates the legal framework governing television distribution platforms operating throughout the country.

Lawmakers approved the measure during the coalition’s final legislative push before the Knesset adjourned ahead of Israel’s upcoming national election campaign. Prime Minister Benjamin Netanyahu attended the parliamentary debate before the legislation received final approval.

The new law establishes a revised regulatory model designed to oversee Israel’s broadcasting sector under a unified framework. As implementation moves forward, responsibilities previously divided among multiple regulatory bodies will transition to the new structure established by the legislation.

The measure also contains provisions affecting television distribution platforms and their broadcasting obligations. One amendment adopted as part of the legislation exempts Channel 14 from a newly established content distribution requirement that applies under specific circumstances outlined in the law.

Israel’s broadcasting industry includes national television networks, cable and satellite providers, digital television platforms and commercial broadcasters operating under government regulation. The new legislation updates the legal framework governing many of those entities and establishes new administrative procedures for oversight of the sector.

The passage of the legislation concludes months of parliamentary work on the proposal through committee review, amendments and multiple readings before receiving final approval in the Knesset. With the legislative process complete, the law now advances to implementation in accordance with the timetable and provisions established within the statute.

Government agencies responsible for communications and broadcasting regulation are expected to begin implementing the new regulatory framework in the coming months, including the organizational changes necessary to transition responsibilities to the authority established under the legislation.

The approval of the measure marks one of the most significant revisions to Israel’s broadcast media regulatory structure in recent years and updates the statutory framework governing television broadcasting, regulatory administration and media oversight across the country.

JBizNews Desk | Jerusalem

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After rising on both a monthly and yearly basis in May, pending home sales were down in June, according to data released Thursday by the National Association of Realtors (NAR). 

Nationwide, NAR’s Pending Home Sales index came in at a reading of 72.5 in June, down 5.4% month-over-month and 0.3% annually. 

An index of 100 is equal to the average level of contract activity during 2001, which was the first year NAR examined this data.

“The highest mortgage rates in nearly a year and the record-high national median home price together are contributing to a tepid housing market that is especially difficult for first-time homebuyers,” NAR’s chief economist Lawrence Yun said in a statement. “It is worth emphasizing that it is closing activity, not contract signings, that generates economic impact. Pending contracts are only suggestive of upcoming closed deals and do not align perfectly, due to fallout rates and contract contingencies.”

Regionally, pending home sales were down month-over-month in all four regions, with the Midwest (73.8) posting the largest decline at 8.9%, followed by a decline of 4.7% in the West (54.9), 4.1% in the South (86.4) and 3.0% in the Northeast (65.6). On an annual basis, pending home sales were up in the Midwest (0.3%) and Northeast (2.2%), but down in the South (-0.9%) and West (-1.1%).

“With contract signings falling in all four major regions, the broad-based decline suggests the recent run-up in mortgage rates is finally catching up with buyers’ wallets,” Sam Williamson, First American’s senior economist, said in a statement. “Other leading indicators point in the same direction. Mortgage purchase applications, another forward-looking gauge, have softened in recent weeks after climbing for much of the spring, with the seasonally adjusted purchase index falling to about 157 in mid-July, its lowest since February. Weaker applications alongside fewer contract signings suggest buyers and sellers are settling back onto the sidelines.”

Among the 50 largest metro areas, Virginia Beach-Chesapeake-Norfolk, VA-NC (+15.4%), Sacramento-Roseville-Folsom, CA (+15.2%) and Kansas City, MO-KS (+14.4%) reported the largest annual pending home sale increases, according to NAR’s data. 

In examining Century 21’s data, brand president Mike Miedler said he sees very different market stories depending on where he looks. 

“According to our data, this market is splitting into three stories. Chicago has 75% fewer homes for sale than in 2019, so even modest demand runs into a genuine shortage there. Miami and San Francisco have flipped from falling prices to rising ones, likely riding the same wealth effect that’s letting some buyers shrug off higher rates. Seattle brings the number down, still the softest market we track, prices about 2% behind last year. Add those together and you get a flat headline that undersells what’s happening almost everywhere else,” Miedler said in a statement. “So I don’t read this as demand disappearing. I read it as three markets moving at three different speeds.”

HousingWire Data shows that there were 403,406 pending single family home sales as of July 10, 2026, up 4.1% compared to a year ago. For the week ending on July 10, there were 63,971 new pending single family home sales, up 4.6% annually. 

At the metro level, Springfield, MO had an additional 481 single family home sales pending compared to a year ago, as of July 10, followed by Montgomery, AL (+306 homes) and Scranton-Wilkes-Barre, PA (+277 homes).

According to Williamson, NAR’s data for June suggests that the housing market remains intact and is waiting for a catalyst. 

“The structural supports are in place,  an easing lock-in effect, a resilient labor market, and favorable demographics, but none is strong enough on its own to draw sidelined buyers back while financing costs hover near a one-year high,” he said. “Until rates ease enough to move the affordability math, the recovery is likely to keep progressing at a measured pace.”

This post was originally published on here. 

LONDON — BP plc is exiting much of its venture capital business, announcing Wednesday that it will sell stakes in more than 10 startup companies and wind down BP Ventures as the energy giant accelerates its strategy to concentrate on oil, natural gas and high-return energy investments.

The move marks one of the clearest strategic shifts under the company’s leadership as BP continues streamlining operations and reallocating capital toward businesses expected to generate stronger shareholder returns.

Rather than operating as a traditional venture capital investor, BP plans to focus more directly on projects tied to its core energy portfolio, including upstream production, natural gas, refining and selected lower-carbon businesses that complement its existing operations.

A Strategic Reset

For years, BP Ventures invested in emerging technology companies developing innovations ranging from energy storage and electric-vehicle infrastructure to industrial software and carbon-management solutions.

The venture portfolio was designed to give BP early access to technologies that could influence the future of energy production and distribution.

The company has now determined those investments no longer fit its primary capital allocation strategy.

Management said the startup holdings will be sold over time, with proceeds redirected toward businesses that more directly support BP’s long-term financial objectives.

The decision reflects a broader industry trend in which major energy companies are placing greater emphasis on projects capable of producing stronger near-term cash flow.

Higher Returns Become the Priority

The restructuring comes as global energy companies continue balancing shareholder demands for higher returns with long-term investments in the energy transition.

Higher oil prices and resilient demand for natural gas have strengthened the economics of traditional energy production, encouraging many producers to prioritize projects offering faster and more predictable returns.

BP has increasingly emphasized financial discipline, stronger free cash flow and improved returns on invested capital while simplifying its corporate structure.

Selling non-core venture investments supports those objectives by reducing complexity and concentrating resources on businesses management believes can generate greater long-term value.

Industry Strategy Continues to Evolve

The announcement also reflects the changing competitive landscape across the global energy industry.

Several major oil companies have recently adjusted investment priorities as governments, investors and customers continue debating the pace of the global energy transition.

While renewable energy and emerging climate technologies remain important long-term markets, many energy producers have increased spending on conventional oil and natural gas projects following several years of strong commodity prices and rising global energy demand.

BP’s latest move suggests management believes its competitive advantage lies primarily in operating large-scale energy assets rather than managing a broad venture capital portfolio.

What Investors Will Watch

Investors will now focus on how quickly BP completes the portfolio sales and whether additional strategic changes follow.

The proceeds from the divestitures could strengthen the company’s balance sheet, support future share repurchases, increase dividends or fund additional investments in core operations.

The decision also provides another indication that large energy companies are becoming increasingly selective about where they deploy capital.

For shareholders, the central question is whether concentrating resources on BP’s core businesses can generate stronger earnings growth and higher returns than maintaining investments across a diverse collection of startup companies.

As energy markets continue evolving, BP is making clear that disciplined capital allocation—not venture investing—will be at the center of its next phase of growth.

JBizNews Desk | London

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In 1897, Theodor Herzl entered the Stadtcasino in Basel and turned it into the first headquarters of the modern Zionist movement. The delegates gathered there had no army, no government, no sovereign territory and no assurance that history would take them seriously. They possessed little more than an idea, a congress and the audacity to begin.

Herzl did not merely believe in a Jewish state. He convened one before it existed.

That was the original grammar of Zionism. It was not a label to wear, a demographic category or a political position to declare. The early Zionists did not simply call themselves Zionists. They practiced Zionism.

Zionism was a verb.

Eliezer Ben-Yehuda did not merely admire Hebrew. He carried it out of the synagogue, brought it into his home and spoke it into the cradle until the language of prophets became, once again, the language of children. The pioneers did not publish declarations about their connection to the land of Israel. They crossed oceans, cleared fields, cultivated farms, established towns and defended settlements whose survival was never guaranteed.

Herzl organized. Ben-Yehuda spoke. The pioneers planted.

They argued fiercely, as Jews always have. Then they went outside and built.

They did not inherit a functioning Jewish state and debate how strongly they identified with it. They created the institutions, language, culture and power their descendants would one day inherit. Their Zionism was measured not by the intensity of their declarations, but by the consequences of their actions.

Somewhere along the way, however, we confused the practice for the label. Zionism became a noun: an identity to claim, a box to check, a word to defend and a controversy to explain. We began asking whether someone is a Zionist, as though Zionism were merely something one could be.

Identity asks who you are. Zionism asks what you are doing

We hold conferences about Zionism. We publish statements defending Zionism. We debate its definition and answer those who slander it, distort it or demand that Jews apologize for it. That work is often necessary. Advocacy matters when Israel is libeled and Jews are threatened.

But advocacy cannot become a substitute for construction.

A movement that spends all of its time explaining itself will eventually forget how to act. A people that exists only to answer its enemies has already allowed its enemies to set the agenda.

The Jewish world has become extraordinarily good at reacting. When Israel is attacked, we mobilize. When antisemitism surges, we organize. When Jewish students are threatened, we convene emergency meetings. When lies spread, we launch campaigns to correct them. When violence erupts, we mourn, raise money, publish letters and demand protection.

All of that matters. But emergency cannot become the organizing principle of Jewish civilization. A people cannot live forever in response mode.

War demands survival. Zionism demands creation. A nation must do both.

Zionism did not succeed because Jews became better at answering history. It succeeded because Jews began making history. Its founders did not ask only, “How do we preserve Judaism?” They asked the more ambitious question: “How do we create the next chapter of Jewish civilization?”

That was the revolutionary leap.

Herzl did not inherit institutions; he imagined and organized them. Ben-Yehuda did not merely preserve Hebrew; he restarted it. Ben-Gurion did not simply administer Jewish sovereignty; he helped create it. The early Zionists understood that the Jewish condition could not be solved by persuasion alone. They had no illusion that one more petition, one more speech or one more appeal to the conscience of the nations would rescue the Jewish people.

They built political power, agricultural settlements, schools, universities, newspapers, labor movements, immigration networks and systems of defense. But their greatest achievement was larger than the sum of those institutions. They changed the Jew’s relationship to language, land, responsibility, power and history.

They sought not merely to find a refuge for Jews, but to restore the creative power of the Jewish people.

History does not reward the people with the most eloquent explanation. It rewards the people who build.

Then came 1948.

One generation did not merely win independence. In 1948, they built the Jewish people’s headquarters: a home, a government, an army and a center of gravity for a people who had spent centuries living at the mercy of others.

But a headquarters is not the mission. It exists so the mission can continue.

Over time, the miracle of statehood became confused with the completion of the Zionist project. Building too often gave way to preserving. Pioneering gave way to administration. Creation gave way to maintenance. Action gave way to advocacy.

Generation after generation inherited the achievements of Zionism, but fewer inherited its habits.

We inherited a revolution and began treating it like an heirloom.

The Jewish state was never meant to become a museum to the courage of previous generations. It was meant to become the living center of Jewish renewal—a source of language, confidence, culture, power and purpose for the Jewish people everywhere.

They did not build it so future generations could become caretakers. They built it so we could become builders.

A state can be declared in a day. A people must be rebuilt in every generation.

That work remains unfinished. Millions of Jews live Jewish lives almost entirely disconnected from the Hebrew language. Jewish communities across the Diaspora remain physically vulnerable and psychologically dependent on institutions that repeatedly fail to protect them. Too many young Jews encounter Israel first as a controversy rather than as a civilization. Too many learn how to debate Zionism before they have ever been invited to practice it.

Jewish philanthropy devotes enormous resources to managing emergencies, but too little to constructing the future. We have become experts at preserving institutions without always asking the question that matters most: What kind of Jew are those institutions producing?

Founders ask: What does not yet exist that must?

Managers ask: How do we preserve what already exists?

A people needs managers. But a movement without founders eventually becomes an industry devoted to its own continuation. It may preserve buildings, budgets, conferences and mailing lists while slowly losing the purpose for which they were created.

The crisis of Zionism is therefore not merely a crisis of public relations. It is a crisis of creative will.

The question Zionism must now answer is not merely: Do you support Israel? Can you defend Israel in an argument? Will you condemn those who hate it?

The deeper question is: What are you building?

The genius of Zionism was never simply that it created a state. Its genius was that it transformed nearly every dimension of Jewish life at once. It revived a language, restored political responsibility, reshaped education, transformed agriculture, reimagined economics and produced literature, music, science, architecture and military doctrine.

It asked a people who had spent centuries surviving history to begin creating it again.

That is what real movements do. They do not merely change governments. They change civilizations.

And a civilization dies long before it disappears. It begins to die when it stops creating—when it can defend its past but no longer imagine its future; when its institutions become stronger than its ideas; when its memory grows larger while its ambition grows smaller.

Zionism was the Jewish people’s decision to create again.

That is why Zionism must once more become an organized program of action.

To speak Hebrew is Zionism.

To teach a Jewish child the language of his or her ancestors is Zionism.

To defend a Jewish community is Zionism.

To plant and cultivate the land of Israel is Zionism.

To support Israeli agriculture, technology, culture and industry is Zionism.

To build institutions that strengthen Jewish confidence and Jewish capacity is Zionism.

To create Jewish art, literature, music, education and ritual is Zionism.

To visit Israel is Zionism.

To invest in Israel is Zionism.

To serve Israel is Zionism.

To bring Israel into Jewish homes is Zionism.

To move the Jewish people closer to their homeland is Zionism.

And ultimately, to return to Israel is Zionism.

Zionism is not merely support for the existence of the Jewish state. It is participation in the continued creation of the Jewish future.

Speak. Hebrew cannot remain a ceremonial language confined to prayer books, classrooms and summer programs. It must return to Jewish homes, families and childhoods. Hebrew is not merely a tool of communication. It is the operating system of Jewish civilization.

Defend. The Jewish people cannot continue outsourcing their security, dignity and confidence. Jewish communities must possess the physical capacity and moral courage to protect themselves. Self-defense is not aggression. It is the restoration of responsibility.

Plant. Jews must renew their tangible relationship with the land of Israel. Zionism was never purely theoretical; it was rooted in soil, agriculture, labor, ownership and cultivation. A homeland is inherited through stewardship, not sentiment. You do not inherit the land merely by praising it. You inherit it by tending it.

Build. Jewish institutions must produce stronger Jews, not merely sustain themselves. We do not need more organizations whose greatest ambition is to survive another fiscal year. We need institutions prepared to survive history.

Create. A living civilization does not merely defend itself. It produces beauty. It creates language, technology, ideas, music, literature, architecture and ritual. A civilization that creates only arguments for its own legitimacy has already begun to shrink.

Return. Not every Zionist will make aliyah tomorrow. Every Zionist, however, should shorten the distance between the Jewish people and Zion. For some, that will mean aliyah. For others, it will begin with language, education, investment, service or repeated presence. But Zionism must always move the Jewish people closer to Israel, not merely teach them to admire it from afar.

Words can be distorted. Labels can be attacked. Definitions can be manipulated.

Action is harder to erase.

A child speaking Hebrew is an answer. A Jewish community capable of defending itself is an answer. A vineyard planted in Israel is an answer. A new institution, a new school, a new company, a new family and a new immigrant are answers.

The enemies of Zionism understand this better than many Zionists do. They are not merely threatened by what Zionism says. They are threatened by what Zionism does. It transforms Jews from petitioners into builders, memory into sovereignty, longing into return and the objects of history into its authors.

That is why Zionism remains revolutionary.

For years, the Jewish world has asked young people whether they identify as Zionists. Perhaps we should ask them something more demanding: What Zionist act did you perform this week? What did you speak? What did you teach? What did you defend? What did you plant? What did you create? What did you build?

Herzl founded a movement. Ben-Yehuda restarted a language. The pioneers rebuilt a homeland.

In 1948, one generation built the Jewish people’s headquarters.

Our generation must build what it was built for.

The first generation of Zionists built a country.

Our generation must build a civilization.

History is now asking one question of ours:

What will we build?

A noun describes reality.

A verb changes it.

Zionism is a verb.

Now build.

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Iran’s judiciary said that no American prisoner had been released or exchanged from its prisons, Iranian state media reported on Thursday, after US President Donald Trump said a US citizen detained during the Biden administration in 2024 had been freed.

The judiciary said checks showed no convicted American prisoner, person accused of spying for the United States matching Trump’s description, or any other American detainee had been released from Iranian prisons or exchanged.

Trump thanked Iran for ‘gesture of goodwill’

Trump announced the alleged release in a post on Truth Social, claiming that the unnamed detainee was “safely outside of Iran and in good condition.”

He described the potential release as a “gesture of goodwill by Iran,” adding that he appreciated the action. 

When probed on the status of American citizens detained in Iran and whether or not that may impact US-Iran peace negotiations during a Thursday press briefing, White House Press Secretary Karoline Leavitt stated that “ensuring the return of Americans wrongfully detained or held hostage all over this world remains a priority” for Trump.

This post was originally published on here. 

Yarden Garzon is undoubtedly one of the best Israeli basketball players to emerge in recent years.

The 22-year-old, 6-foot-1 guard, originally from Ra’anana, starred in the NCAA over the past four seasons, spending three years at Indiana before transferring to Maryland for her senior year.

According to many projections, Garzon was expected to become just the second Israeli to play in the WNBA, but she ultimately went undrafted a few months ago. She later signed a rookie contract with the Phoenix Mercury, though the team eventually decided to let her go.

Now, as she looks ahead to the next chapter of her career at Euroleague powerhouse Zaragoza in Spain, Garzon sat down with The Jerusalem Post and a myriad of topics were discussed, from her early beginnings as a basketball player all the way to present day.

“I’m doing really well,” Garzon began. “I’m working on getting ready for next season. While I’m excited to finish my college career, I expected things to go a little differently, but as the saying goes, we plan and God laughs. Now I’m about to begin my professional career.”

Garzon has spent the last four years in the United States and while her near future will be outside of Israel, there’s no place like home.

“Of course I miss home a lot and I’m someone who’s very, very close to my family. They came to visit me every year too. Yes, it’s difficult. But I can say that over time you kind of get used to it. I gradually built my own circle of people here, people I’m really close to. They truly ‘adopted’ me and made me feel like I belonged, like family here and also during my years at Indiana. Obviously, we’ve all been through a lot over the last few years, especially the last three years, so experiencing all of that from afar wasn’t easy. But that’s also part of the journey and part of learning.”

Athletic upbringings

Growing up in a home with a very athletic family helped begin to mold Garzon as to who she is today.

“My dad played basketball in Maccabi’s youth system and my mom played volleyball for many years. Growing up, we were always outside playing soccer, basketball, riding bikes, whatever we could. Then one day I joined a basketball program and that’s where it all started.”

“Basketball-wise, I don’t think I had one specific role model where I said, ‘I want to be like her when I grow up,’ unfortunately. I wasn’t really exposed to that. But every year I wanted to be better than the girls who were three, four, or five years older than me. I’d watch them and think, ‘Okay, I want to do a step-back like her. I want to shoot like her. I want to pass like her.’ So throughout my journey, I was always looking two or three steps ahead at the kind of player I wanted to become and that’s where I found my role models.”

Having an older sister in Lior who is a high-level basketball player is also helpful along the way for Garzon.

“I think it really comes from our family and it’s great that we have each other. We understand what the other is going through. She went to college before I did, so when I moved to the US, she helped me a lot with what to do and how to handle everything. It’s great to have someone who truly understands me and is going through similar experiences that we can share.”

After starring in high school and local youth leagues in Israel, Garzon was recruited by colleges in the United States and chose to attend Indiana.

“I arrived at Indiana as an 18-year-old kid who didn’t know much and I grew tremendously. Of course, I developed as a player on the court, but I also developed as a person. Those years between 18 and 21 are really significant because that’s when you learn so much and become an adult. Living away from home was mainly about growing up.”

After three years at Indiana, Garzon decided to move to Maryland for her last year of eligibility.

“I felt I needed new opportunities, maybe a different system and to test myself in a different environment. I chose Maryland mainly because I wanted to learn from head coach Brenda Frese, who’s known for developing players into impactful professionals. I think I fit in pretty quickly and I connected well with the coaching staff and the players. Unfortunately, we had a lot of ups and downs that season and it didn’t go exactly the way we wanted. There were a lot of injuries and a lot of changes, but that’s part of life.”

During her four years in college ball, Garzon was fortunate to be able to play in the NCAA Tournament, March Madness in each of her seasons.

“I don’t think anyone who hasn’t experienced it or been in the American college system can truly understand it. All eyes are on you. It’s the biggest event of the year. It’s broadcast to millions of people. I’m really happy I got to be part of it for four years. The level of organization, the quality of the players, the facilities, you really can’t compare it to anything else.”

After her senior year at Maryland, Garzon was not selected in the most recent WNBA Draft, which of course was disappointing as she had been highly rated during her time in college.

“There’s really no way to sugarcoat it. It was a huge disappointment because there were high expectations. I was projected in pretty much every mock draft. For a few hours, it was difficult to accept. But I think that’s the beauty of it, every player has their own path. I’ll make it to the WNBA, I’m sure of it. It’ll just happen through a different route.”

Following the draft, Garzon did sign a rookie contract with the Phoenix Mercury and was able to head to training camp, but at the end of the day it didn’t work out due to an injury and she was released.

“It was a great experience. I started training camp really well and I was getting very, very positive feedback. It looked like things were heading in the right direction. Unfortunately, I got injured during camp, so I wasn’t able to give everything I had or fully prove myself through the end of camp, which was really disappointing. But yes, I believe I’m absolutely at the level of that league. I know I can play there and contribute to teams, and I believe I’ll get there.

“On one hand, of course I was disappointed. I wanted to make the WNBA this year. On the other hand, I completely understood their decision because with my injury it was difficult to continue when the season was starting and I couldn’t be on the court. It was especially frustrating because of the injury. They really gave me as much time as they could to try to get back on the court, but injuries are part of every athlete’s career, and you have to deal with them.”

On the bright side, Garzon was recently selected as one of Forbes Israel’s 30 Under 30 which was a real boost for the hoopster.

“I think it’s very special and it’s encouraging to know that people see me and recognize what I’m doing. I’m really proud to be Israeli wherever I go. It’s a great feeling to receive that recognition. It’s a huge honor, and now I just want to keep working.”
See more Israeli sports coverage at www.sportsrabbi.com/en

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On this week’s episode of “The Readout LOUD”: The Kalshi prediction markets are coming for biotech, plus the controversy over an experimental Alzheimer’s disease treatment from Biogen. 

Kalshi, the maker of prediction markets, announced this week that it is expanding into biotech. Soon, you’ll be able to make bets on the outcomes of clinical trials and FDA drug reviews. Is that a good thing? We’ll discuss the issues with Jonathan Kimmelman, a bioethicist at McGill University who has researched prediction in clinical trials.

Read the rest…

This post was originally published here. 

Rep. Debbie Wasserman Schultz (D-Fla.) is again pressing Congress to ease the cost of condominium safety repairs. This time, she has teamed with Rep. Maria Elvira Salazar (R-Fla.) to revive a bill that stalled in committee three years ago.

They have reintroduced the Making Condos Safer and Affordable Act around the anniversary of the deadly 2021 condo tower collapse in Surfside, Florida. The bill would expand access to low-interest, government-backed loans for structural and life-safety work in condominium buildings.

“The Surfside tragedy changed our community forever and reminded us that protecting families must always come first,” Salazar said in a statement. “This bipartisan bill gives condominium associations and homeowners the tools they need to finance critical safety repairs, protect residents, and preserve safe, affordable housing across South Florida.”

The bill could have an easier path through Congress this time. Roughly 18 states have introduced condo safety and reserve legislation since the Surfside disaster.

Florida created statewide “milestone inspections” for older buildings and required structural integrity reserve studies to fund major repairs. Maryland, Virginia and Tennessee are among the other states that enacted similar condo safety and reserve laws.

The federal legislation comes as cities and states pursue zoning reform to boost density through multifamily construction. California lawmakers are working on two condo law reform bills to reignite condo construction.

Easing the condo assessment pain

Wasserman Schultz’s and Salazar’s bill would let condo associations spread the cost of repairs over time instead of relying on large special assessments. Supporters argue that owners facing new inspection rules and insurance hikes need financing help to stay in their homes.

“This bipartisan legislation provides practical financing tools to help communities address infrastructure needs, protect residents, and plan responsibly for the long term,” Dawn Bauman, CEO of the Community Associations Institute, said in a statement. The 53-year-old organization, which has more than 50,000 members, backed the legislation when it was first introduced in 2023.

Wasserman Schultz co-sponsored the earlier bill with Rep. Bill Posey (R-Fla.) in response to the Surfside collapse. Posey served in the House until 2025 and died in 2026. The House Financial Services Committee received the bill but never held a hearing, markup or vote.

It failed to advance before the 118th Congress ended. If it passes this time, associations could tap federal loans to complete critical repairs without pricing owners out of their buildings.

In Florida, the law would pair with state changes made in 2023 and 2025. Those changes adjusted deadlines and gave condo boards limited flexibility on reserves while keeping key safety mandates. The laws have forced many associations to move ahead with costly work while raising fees or imposing steep assessments.

This post was originally published on here. 

Eight months ago, Greystone Real Estate Capital was just getting started raising money for affordable housing projects. It has now closed its second fund in less than a year, drawing three existing institutional investors and five new ones.

Greystone’s latest fund brought in $137 million, pushing the firm’s total multi-investor Low-Income Housing Tax Credit (LIHTC) equity past $240 million. Chief investment officer Todd Jones said in a statement that the platform has built 13 new investor relationships in less than a year. The firm closed its first fund, valued at $103 million, in August 2025.

The firm’s investment haul comes as LIHTC investment continues to grow, with states expanding their own tax-credit programs. In some cases, states preserved the tax structure.

Investment also got a boost at the federal level, primarily from last year’s One Big Beautiful Bill Act. Rising investment in tax-credit-driven affordable housing comes as cities and states pass reforms to build more housing amid persistent affordability concerns nationwide.

Adding affordable housing stock

Greystone’s new fund will finance 11 developments across 20 properties in nine states, creating 1,960 affordable housing units. The first fund provided capital for 11 projects across Louisiana, Massachusetts, Mississippi, New Jersey, Ohio and Pennsylvania, accounting for 959 units.

“This is only the beginning, and we remain committed to expanding our impact by delivering innovative capital solutions that help address the growing need for affordable housing across the country,” said Stephen Rosenberg, Greystone’s CEO.

With its latest fund, 10 of the properties in the latest fund fall under a rural development portfolio, Many LIHTC deals tend to be concentrated in urban markets. The portfolio allocates 60% to new construction and 40% to rehabilitation of existing units.

Most of the fund’s equity (84%) went to repeat developers, reflecting Greystone’s reliance on established relationships on the development side. On the tenant side, 80% of properties carry project-based rental subsidies, and residents average 56% of area median income — figures that place the portfolio in the deeply subsidized housing category rather than workforce-level affordability.

Fund fits a shifting market

Greystone’s rapid capital raise arrives as the broader LIHTC market grows and federal policy shifts open new room for expansion.

LIHTC investment reached about $30.1 billion in 2025, up roughly 4% from the $28.9 billion invested in 2024, according to tax advisory firm CohnReznick‘s annual Housing Tax Credit Monitor. That marks continued growth but at a slower pace than in prior years.

Syndicated equity made up 76% of the 2025 total, while direct investments accounted for the remaining 24% — a notable decline from prior years. Multi-investor funds like Greystone’s captured 44% of syndicated equity in 2025, with proprietary funds taking the other 56%. That split has held steady in recent years.

Growth is expected to continue into 2026. The One Big Beautiful Bill Act permanently raised states’ 9% LIHTC allocations by 12% and lowered the bond-financing threshold for 4% deals from 50% to 25%. The new law also added a rural focus.

Federal regulators expanded capital access too. The Federal Housing Finance Agency doubled Fannie Mae‘s and Freddie Mac‘s annual LIHTC investment caps to $2 billion each, with half of that combined $4 billion reserved for difficult-to-serve markets and 20% earmarked for rural communities.

This post was originally published on here. 

WASHINGTON — According to an announcement released by the Office of the United States Trade Representative on Wednesday, July 15, the United States will impose a 25% tariff on selected imports from Brazil beginning July 22, escalating trade tensions between the Western Hemisphere’s two largest economies and signaling a tougher U.S. approach toward what it describes as unfair foreign trade practices.

The tariffs target a range of Brazilian products entering the United States while leaving several major exports—including coffee, beef, orange juice, certain energy products and aerospace components—exempt from the new duties. The administration said the action follows a trade investigation that concluded several Brazilian policies created barriers for American companies and distorted fair competition in key sectors of the economy.

The announcement immediately drew the attention of importers, exporters and financial markets, as businesses began assessing which supply chains could face higher costs and whether additional trade measures could follow. While the exemptions protect several high-profile consumer products from immediate price increases, manufacturers and distributors that rely on affected imports may begin paying substantially more within days.

Trade analysts say the decision reflects a broader shift in U.S. trade policy toward targeted enforcement actions rather than across-the-board tariffs. Instead of focusing primarily on reducing trade deficits, policymakers are increasingly using tariffs to pressure trading partners over market access, regulatory practices and commercial policies viewed as disadvantaging American businesses.

Economic commentators note that Brazil occupies a unique position in U.S. trade. Unlike several countries that have faced previous tariff actions, the United States generally maintains a goods trade surplus with Brazil. That makes the latest move less about narrowing an imbalance in trade and more about changing business practices that U.S. officials believe create an uneven playing field for American exporters and investors.

For U.S. businesses, the effects will vary considerably across industries. Companies importing Brazilian steel products, industrial materials, ethanol, sugar, tobacco and certain manufactured goods could experience higher procurement costs almost immediately. Businesses may absorb part of those increases, negotiate lower prices with suppliers or pass additional costs on to customers depending on market conditions and competitive pressures.

The exemptions were widely viewed by market observers as an effort to avoid unnecessary disruptions for American consumers. Brazil remains one of the world’s largest suppliers of coffee and orange juice to the United States, while its aerospace industry plays an important role in supplying aircraft and aviation components used throughout North America. Leaving those sectors untouched reduces the likelihood of immediate shortages or sharp retail price increases.

Business analysts say the greatest uncertainty now lies in Brazil’s response. If Brazilian officials introduce retaliatory tariffs on American exports, companies operating in agriculture, manufacturing and industrial equipment could face new challenges selling products into one of South America’s largest economies. Such actions have historically increased costs for businesses on both sides while creating additional uncertainty for investors and global supply chains.

Financial markets are also watching whether negotiations resume before the tariffs take effect. Trade disputes often begin with tariff announcements but can ultimately lead to revised agreements that reduce or eliminate duties after negotiations. Investors will be looking for signs that both governments remain willing to pursue a negotiated settlement before the dispute expands further.

Some economists caution that tariffs rarely affect only one side of a trading relationship. While they can provide leverage in negotiations and offer temporary protection for domestic industries, they can also increase operating costs for American companies that depend on imported materials. Whether those costs remain manageable often depends on how easily businesses can shift production or find alternative suppliers.

Commentators also note that the administration’s decision may serve as a blueprint for future trade enforcement actions. Rather than broad measures affecting every import from a country, policymakers appear increasingly willing to target specific sectors while exempting products considered strategically important to U.S. consumers and manufacturers. That approach attempts to maximize negotiating leverage while limiting inflationary pressure and disruptions to critical supply chains.

The coming weeks will determine whether the latest tariff action develops into a broader trade dispute or becomes the catalyst for renewed negotiations between Washington and Brasília. Until then, businesses on both sides of the hemisphere are preparing for higher costs, potential supply-chain adjustments and continued uncertainty surrounding one of the Americas’ most important commercial relationships.

JBizNews Desk | Washington

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After two great inflation numbers where the level of both consumer and producer prices actually declined in June from the prior month, reported out Tuesday and Wednesday, today we get another big number this time on retail sales — also known as consumer spending.

Core sales have risen 8 percent at an annual rate over the past three months. And the biggest category was online sales, where non-store retailers have jumped by 1.9 percent in June, 1.4 percent in May, 1.5 percent in April, and 21 percent annually for the last 3 months. Those are big numbers. 

By the way, car sales are up more than 20 percent annually in the second quarter. Another big number. We will get manufacturing tomorrow, but two booming regional manufacturing reports from New York and Philadelphia have already been reported.

So allow me to modestly redefine the reemergence of a Goldilocks economy. It used to be not too hot and not too cold. Yet that was Wall Street, and I was guilty of it too, suggesting limits to growth that might cause inflation. My new Goldilocks definition is rapid economic growth combined with stable or even disinflating prices.

That is to say, the Phillips Curve is dead. There’s no trade off between growth and inflation. Or between jobs and inflation. Speaking of jobs, weekly initial unemployment claims are rock bottom. Nobody is getting fired, but plenty of folks are being hired.

This is a new Goldilocks, on the supply-side, technologically driven. We’re talking AI, quantum computing, advanced manufacturing, and space technology breakthroughs. At the bottom of all of this is surging productivity — output per person — which is holding down business costs and consumer prices. We saw some of this movie before during the 1990s. Yet we’re seeing it again right now even bigger time.

And we have pro-growth fiscal and monetary policies, including a strong dollar, and a new regime at the Fed, and lower taxes and fewer regulations from the White House. All this is nurturing the new Goldilocks. Pessimists beware, you’re about to get whacked and you won’t even see it coming.

This post was originally published here. 

The Knesset plenum passed late Thursday night the bill to extend mandatory military service to 32 months.

Forty-three MKs voted in favor, with 12 against and one abstention.

According to the approved temporary framework of the bill, rather than shortening IDF service to 30 months for those who enlisted in July 2024 and are set to be discharged in January 2027, the ruling will apply to those enlisted in June 2029 and are due to be discharged in January 2032.

The explanatory notes to the proposal state that “the extension of regular service within the framework of the temporary order is urgently required, in order to meet the IDF’s goals and to respond to security needs.”

The passage of the bill comes amid the coalition’s legislative blitz before the Knesset recesses ahead of the upcoming elections.  A series of legislation has recently been advanced by the haredi (ultra-Orthodox) parties and Prime Minister Benjamin Netanyahu’s coalition, which critics argue encourages draft evasion, even amid the IDF’s severe manpower crisis.

In the Knesset’s Foreign Affairs and Defense Committe discussions of the bill on Tuesday, ahead of its passing, the IDF had urged the extension of service to 36 months, warning that 32 months was not enough to achieve the military’s current need.

“The regular [standing] army is reaching the edge of its capacity, and the reserve system may also go beyond that,” said DF Brig.-Gen. Shai Taib, head of the military’s Planning and Personnel Administration Division. “In some units it may even collapse, certainly if there is a further reduction in mandatory service that will force us to deploy even more reservists.”

Coalition is ‘hypocritical’ for approving bill, Liberman says

Yisrael Beytenu leader MK Avigdor Liberman accused the coalition of hypocrisy in a late Thursday post to X/Twitter.

“The hypocrisy of the coalition screams to the heavens,” Liberman wrote. “Those same ultra-Orthodox parties that just this week led a bill preventing the arrest of draft dodgers, voted today in favor of extending the mandatory service of IDF soldiers who have been fighting bravely since October 7 on four fronts.”

Keshet Neev contributed to this report.

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Turmoil at the American Diabetes Association has taken a fresh turn, with leaders blocking editors at its flagship journal from publishing an opinion piece and first-person accounts detailing a high-profile controversy at the group’s own annual meeting just last month.

Nearly five weeks after five diabetes specialists were escorted out of a conference center in New Orleans for handing out reprints of an editorial expressing concern over cuts to federal research, the ADA’s flagship journal, Diabetes Care, was preparing to publish an editorial and several accounts detailing the episode, which drew national attention and prompted the ADA to both apologize for the evictions and pledge a formal review. But the organization says it delayed publication pending the outcome of that review — even as there is disagreement about how it is being carried out.

In the spiked editorial and personal accounts, now available on an open-access website, the diabetes specialists who were ejected in early June detail their treatment. Prominent ADA members, including past leaders and one who resigned in the wake of the confrontation, also express dismay over how the events were handled initially and afterward. All voice disappointment over the decision to suppress views opposing policies of the Trump administration while also disagreeing with how ADA’s leadership handled the episode and its aftermath. 

Continue to STAT+ to read the full story…

This post was originally published here. 

Home Equity Conversion Mortgage (HECM) endorsements for April showed that the nation’s top brokerages continued to originate federally insured reverse mortgages at higher or similar levels to their pace over the past year. That’s according to data released this week by Reverse Market Insight (RMI) and published by HECMWorld.com.

Atlantic Avenue Mortgage remained on top of the monthly rankings of brokers and third-party originators, endorsing 110 HECMs in April. That represents a 25% increase from March. It’s also 34% above the company’s 12-month rolling average of 82 endorsements, and its rolling total for the past year jumped to 978 — up from 938 for the year ending in March.

loanDepot remained at No. 2 in the rankings, adding 43 loans in April to push its 12-month rolling total to 456. Caliver Beach Mortgage (393) and C2 Financial Corp. (178) followed. West Capital Lending jumped to the No. 5 position, adding 19 loans in April for a rolling 12-month total of 168.

The rest of the top 10 across the past year includes Carrington Mortgage Services (139), Senior Lending Corp. (138), Barrett Financial Group (134), Integrity 1st Mortgage (122) and NEXA Lending (118).

Direct endorsement data for June, released earlier this month by RMI, showed that HECM origination activity across the nation’s top 100 lenders was up 6% from May 2026 but down 9.8% on a year-to-date basis.

The top five direct lenders last month were Finance of America (481), Longbridge Financial (407), Mutual of Omaha Mortgage (398), Fairway Home Mortgage (112) and South River Mortgage (74).

Declining volume in the HECM space is a well-documented issue that dates back several years. According to Federal Housing Administration (FHA) data republished by the National Reverse Mortgage Lenders Association, HECM endorsements have dropped from a peak of 114,692 in fiscal year 2009 to 28,172 in FY 2025. Last year’s total was the lowest in 22 years.

The trend has coincided with growing demand for proprietary reverse mortgages. According to data from New View Advisors, the origination volume of private-label loans ($953 million) surpassed that of HECMs ($875 million) during the first quarter of 2026.

Gabe Bodner of One Trust Home Loans recently told HousingWire’s Reverse Mortgage Daily that his company’s product mix has shifted significantly in the past year as proprietary loans gain more interest among senior homeowners. While prop loans generally have higher interest rates than HECMs, they also typically allow for higher proceeds while removing the burdensome upfront mortgage insurance requirement of FHA-insured products.

“If you had asked me maybe a year ago, I would have said, as a company, we are a lot more HECM than proprietary — probably 80% HECM and 20% proprietary. But this year we’ve seen a very large increase in our product mix for proprietary. I’m estimating 65% HECM and 35% proprietary,” Bodner said.

“That is because proprietary guidelines are growing and expanding, and they’re more flexible than HECMs. No. 1, proprietary products allow for higher-value homes, meaning it allows borrowers to access more equity. No. 2, it allows borrowers to pay off debt to qualify. FHA still does not allow that. Additionally, FHA has made it very challenging to finance condominiums with a HECM. Proprietary has opened up the doors in many cases to be able to offer financing for non-FHA-approved condominiums.”

Editor’s note: This story was revised from an earlier version that incorrectly described Atlantic Avenue’s endorsement growth from March to April.

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loanDepot has asked a federal judge to dismiss a lawsuit accusing the lender of violating federal loan originator compensation rules, arguing that mortgage brokerage West Capital Lending (WCL) lacks standing to sue and is improperly trying to use consumer protection laws to pursue a competitive business dispute.

In a reply brief filed Thursday in the U.S. District Court for the Central District of California, loanDepot argued that WCL has no legal basis to bring the lawsuit because the Truth in Lending Act (TILA)’s loan officer compensation rule was designed to protect borrowers, not competing lenders, and does not provide competitors with a private right of action.

The company asked the court to dismiss the complaint with prejudice. A loanDepot spokesperson declined to comment beyond the court filing.

Lacking evidence of financial harm?

WCL sued loanDepot earlier this year, alleging the lender illegally compensated production managers in a way that allowed it to selectively lower mortgage prices and win business from competitors, in violation of TILA and California’s Unfair Competition Law.

loanDepot argues WCL has never shown that it actually lost customers or suffered a measurable financial injury, and that it “cannot establish economic injury.” According to the filing, WCL has dropped its request for monetary damages and now seeks only declaratory and injunctive relief, but it has yet to identify a single borrower it allegedly lost due to loanDepot’s practices.

“[WCL] does not identify a specific transaction, expenditure, or lost opportunity; it merely alleges that it suffered harm because loanDepot offered unspecified customers unspecified low prices,” Thursday’s filing states. “If WCL could identify a single customer it lost or is likely to lose, it would have done so already.”

loanDepot also disputes the foundation of WCL’s claims, arguing that the LO compensation rule governs how lenders pay employees, not the mortgage rates they offer consumers. It says lenders are free to match competitors’ pricing regardless of the compensation rule, meaning WCL cannot show the alleged violations caused any competitive harm.

“Accordingly, a mortgage lender can engage in the kind of pricing practice that WCL describes without violating the LO Comp Rule — it can simply direct loan originators to charge high rates and give discounts when necessary,” the filing states.

loanDepot further argued that WCL’s allegations rely heavily on declarations from former employees who either never served as production managers or left those positions years ago. Those statements, the company said, describe past practices and do not establish that any alleged misconduct is ongoing, a requirement for the forward-looking relief WCL is seeking.

“WCL obtained and relies heavily on declarations from four former production managers, yet not one demonstrates that production managers’ activities fell outside of this protected approval activity,” the filing states.

The filing also argues that only borrowers, not competitors, can sue under federal LO compensation provisions, and that California’s Unfair Competition Law cannot be used to sidestep these limits. loanDepot also said WCL failed to identify specific instances in which production managers acted as originators or steered borrowers into more expensive loans.

Thursday’s filing adds to a long legal history between the two lenders.

In a separate lawsuit filed in October 2025, loanDepot accused WCL and its founders of poaching 178 loan officers, misappropriating trade secrets and customer data, and violating LO compensation and labor laws. The complaint also alleges WCL improperly classified hundreds of loan officers as independent contractors and used revenue-sharing compensation arrangements that gave the brokerage an unfair competitive advantage.

WCL has denied the allegations and the case remains pending.

WCL is also defending a similar lawsuit filed by consumer-direct lender Griffin Funding in June 2025. Griffin alleges several former loan officers diverted company leads and customers after joining WCL, misappropriated trade secrets and caused more than $3.7 million in lost revenue, while claiming WCL benefited from the alleged misconduct.

This post was originally published on here. 

A growing share of working-age Americans is paying for food with borrowed money, and a rising number are unable to keep up with the bill. That is the central finding of a report released Monday, July 13, by the Urban Institute, the Washington-based research organization that conducts the Well-Being and Basic Needs Survey, a nationally representative poll of roughly 10,000 adults conducted in December 2025.

The survey, which covered adults ages 18 to 64, found that 8.7 percent of respondents said they charged groceries to a credit card and then could not make the minimum payment, up from 7.1 percent when the Urban Institute last measured the figure in 2023. Kassandra Martinchek, a co-author of the report and public policy expert at the Urban Institute, said the increase may appear modest, but it represents millions more Americans falling behind on debt incurred simply to put food on the table. Missed minimum payments, she noted, often trigger penalty interest rates and fees, making them one of the clearest signs of growing financial distress.

The broader financial picture is even more concerning. 63.2 percent of working-age Americans said they used a credit card to purchase groceries during the past year, and more than one-quarter of those consumers experienced difficulty repaying the balance. Fewer than 35 percent were able to pay their credit card bill in full each month. Meanwhile, 19.6 percent reported withdrawing money from savings that had not been intended for everyday expenses, while another 5.2 percent relied on payday loans to cover grocery costs. More than half of respondents, 51.3 percent, said grocery prices had increased significantly over the previous 12 months.

Buy Now, Pay Later Has Reached the Grocery Aisle

The report also highlights the rapid expansion of buy now, pay later financing into everyday necessities. 8.9 percent of adults said they used a buy now, pay later plan to purchase groceries, and 34.8 percent of those users missed at least one installment payment.

That delinquency rate stands out for a product generally structured around four payments over six weeks. The trend affects major providers including Klarna Group, Affirm Holdings, and Afterpay, as well as retailers that offer the payment option at checkout, including Walmart, Kroger, and Target.

Klarna recently reported 119 million active consumers, a 21 percent increase from a year earlier. The company has told investors that its average customer balance is approximately $124, compared with roughly $6,900 for the average U.S. credit card balance, while maintaining that its historical loss rate has remained around 0.6 percent. The Urban Institute’s findings suggest grocery borrowers may represent a substantially different and financially more vulnerable customer base.

Lower-Income Households Face the Greatest Pressure

The financial strain is concentrated among lower-income Americans. Approximately 12 percent of low- and middle-income adults who charged groceries to a credit card failed to make the minimum payment last year, roughly three times the rate among higher-income consumers.

Those households were also about four times more likely to miss a buy now, pay later installment. More than half of lower- and moderate-income consumers who relied on credit cards for groceries carried balances rather than paying them off completely, compared with just over one-third of higher-income households.

The cost of falling behind escalates quickly. A first missed credit card payment can result in fees of up to $30, with subsequent missed payments reaching $41 each, according to industry estimates.

Food Inflation Continues to Weigh on Household Budgets

The Urban Institute attributed much of the financial stress to the cumulative rise in food prices over recent years. Grocery costs have increased approximately 32 percent over the past five years, leaving many households with little flexibility to absorb additional price increases.

Recent federal data shows that while inflation has moderated, grocery prices remain elevated. The Bureau of Labor Statistics reported that food consumed at home increased 0.2 percent in June, while grocery prices were 2.7 percent higher than a year earlier. Egg prices climbed 4.3 percent during the month, dairy products rose 1.2 percent, and meats, poultry, fish and eggs increased 0.6 percent. Coffee and nonalcoholic beverages posted modest declines.

For many families, prices are no longer accelerating rapidly—they are simply remaining stubbornly high.

At the same time, overall household debt continues to climb. The Federal Reserve Bank of New York reported that total U.S. household debt reached $18.8 trillion during the first quarter of 2026, roughly $740 billion higher than one year earlier.

Meanwhile, enrollment in the Supplemental Nutrition Assistance Program has declined following changes to federal work requirements, leaving millions fewer Americans receiving food assistance than before.

Business Implications Extend Beyond Grocery Stores

Food is typically the final household expense families reduce. Researchers warn that when consumers begin financing groceries with credit cards, savings withdrawals, or installment loans, discretionary spending elsewhere in the economy often disappears first.

That has implications well beyond supermarkets. Card issuers may face higher loss rates on consumer debt tied to basic necessities. Retailers could see shoppers trading down to lower-cost products while reducing basket sizes. Lenders extending credit for grocery purchases are financing goods that are immediately consumed, leaving no asset behind to offset potential losses.

The Urban Institute concluded that while credit cards and savings can temporarily help families weather financial hardship, relying on those resources for essential expenses over an extended period can push households into long-term financial instability if debt continues to accumulate and depleted savings are never rebuilt.

JBizNews Desk | New York

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Ikea shoppers in Charlotte and Austin will soon have fewer options for home design consultations and pickup services.

The Sweden-founded retail giant is closing its South Charlotte and Austin-Domain, Texas, “Plan & order point with Pick-up” locations on Aug. 30, 2026, according to notices posted on the company’s website.

The smaller-format sites allow customers to get help with planning kitchens, rooms and business spaces, while also offering pickup services.

Both locations will remain open for planning appointments until their closure dates, according to Ikea.

7-ELEVEN DETAILS PLANS TO CLOSE 645 STORES

Ikea said the closures are part of its strategy to build a “more affordable, accessible, and sustainable future” in the U.S.

“We continue to test, explore, and develop new ways for customers to meet Ikea, while investing in home delivery, pick-up services and our online experience,” the retailer said.

Customers with current kitchen, room or business planning projects at either location can finish them before the closure date. 

AMERICAN MALL RETAILER WARNS IT MAY CLOSE UP TO 15 MORE STORES THIS YEAR

They can also transfer their projects to another Ikea store or work with an online remote planner, according to Ikea.

Ikea noted that Charlotte-area customers can still shop at the full-size Ikea Charlotte store at 8300 Ikea Blvd. or online at IKEA.com.

Austin-area customers can visit Ikea Round Rock or the Ikea location inside Best Buy South Austin. They can also shop online.

COSTCO ISSUES WARNING NOTICE FOR PLANT DUE TO INVASIVE INSECT INFESTATION CONCERN

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Ikea launched the format in early 2023 as part of a broader push to make shopping more convenient and accessible, according to The Street.

The retailer now has about 32 “Plan & order point with Pick-up” locations across 14 states.

FOX Business reached out to Ikea for comment.

This post was originally published here. 

The Wall Street Journal on Tuesday published allegations from a dozen released Palestinian prisoners, including several convicted of terrorism-related offenses, who claimed they were sexually and physically abused while in Israel’s custody after the October 7 attack.

The former prisoners told the WSJ they had been beaten, starved, and some claimed to have been sexually assaulted in front of other prisoners.

“Every day, three times a day, someone was being beaten,” claimed Iyad Omar, who was convicted of attempted murder in 2002.

“This kind of thing never happened before October 7. Back then, we only faced this type of abuse if there was a hunger strike or a riot.” 

One former Palestinian prisoner, Khaled Abu Hanoud, also said he’d noticed a tougher approach from October 7, 2023 until his release in early 2025.

The Israel Prison Service has repeatedly denied any allegations of abusing prisoners, telling WSJ the claims were “false, recycled, and entirely without factual basis.” 

Conditions changed after October 7, prisoners say

The former prisoners claimed that on the day of the Hamas attack, the power went out at Lavi prison in the Negev, sparking cheers from inmates who knew Hamas would take hostages, and believed their freedom could be near.

Later in the day, guards searched each cell and seized “almost all personal items,” and the prisoners began facing “more severe and frequent” beatings, the report claimed.

The former prisoners claimed the beatings were often carried out by the prison’s tactical units Keter – the unit which responds to prison riots – and Metzada – the IPS’s hostage-rescue force operating, which also works to halt riots.

Mohammad Mardawi, who was convicted in 1999 for being a member of Hamas, said that in April 2024, he was held in a single-person cell with two other prisoners, and was beaten and sodomized after watching soldiers fire guns at the feet of new detainees.

Mardawi said his injuries had healed before his release.

Auditors from the Ministry of Justice and United Nations agencies later found that detainees were starved and beaten, particularly during transfers and searches, WSJ wrote. 

Former Palestinian prisoners allege medical neglect in Israeli prisoners 

Autopsies of some Palestinians who died in custody showed signs of physical assault, medical neglect, and malnutrition, and doctors and rights groups described instances of sexual violence, according to WSJ. 

Physicians for Human Rights Israel, an Israeli medical advocacy nonprofit that monitors prisons, said that all 59 prisoners visited by the organization since February reported insufficient food and medical treatment. 

The organization stated that outbreaks of scabies, a skin disease associated with inadequate sanitary conditions that can become fatal if untreated, were found in five facilities in a letter to the prison service, viewed by WSJ. 

Six of the 12 former prisoners WSJ spoke to said they’d been denied necessary medical care, with three saying they’d contracted scabies. 

One 19-year-old prisoner held without charge developed a spine infection following repeated scabies exposures and became paralyzed in both legs and partially in one arm and lost the ability to control his bowels, according to a ruling to release him by an Israeli military court and a doctor’s report, WSJ wrote. 

The High Court ruled last year that the state failed to meet prisoners’ basic needs after a petition from civil-society groups accused the government of starving them. 

In the past month, the court also ruled that the ban on Red Cross visits to prisoners violates both international and Israeli law. 

Shin Bet (Israel Security Agency) called for greater Red Cross access in 2024, claiming that prison conditions could violate the UN convention against torture, according to WSJ. 

In May, the UN added Israel to a list of countries it says have committed sexual violence in warzones, citing violations against Palestinian prisoners. 

Israel has vehemently denied these allegations and said it would end relations with the UN secretary-general’s office. 

Pew Research Center surveys have found foreign views of Israel to be deteriorating, with 62% of US adults viewing the Israeli government unfavorably, up from 43% in 2022. 

Some 9,300 Palestinians are in Israeli custody, up from about 5,200 before the war, most of them held without charge, Hamoked, an Israeli nonprofit with access to prison population data, said. 

Physicians for Human Rights Israel says it has tracked 105 Palestinian deaths in Israeli custody since October 7, 2023, the WSJ reported. 

Danya Saperstein contributed to this report. 

This post was originally published on here. 

A comprehensive reform to address the large spike in wounded and traumatized soldiers from the last three years of war was approved by the government on Thursday.

The reform is based on the June 7 recommendations of a government committee that recommended radical changes for how the Defense and Finance ministries should handle an estimated 50,000 trauma cases of former soldiers.

The committee, which is headed by Prof. Shlomo Mor-Yosef, started operating last November.

According to Mor-Yosef, the committee should have been established at least a year earlier to deal with the skyrocketing numbers of physically wounded and emotionally traumatized, including post-traumatic stress disorder (PTSD) cases, from the ongoing wars since October 2023.

This past March, the Defense Ministry estimated the total number of wounded soldiers in Israel’s wars would exceed 100,000 by around 2030, as the war has continued and the number of wounded soldiers in Lebanon has jumped. The new estimate for crossing that threshold has been moved forward to 2028.

Although the Defense Ministry had already made many changes to streamline approving financial benefits and emotional treatment for soldiers since the October 7 massacre in 2023, the changes were nowhere near sufficient, the committee said.

Committee recommends establishing new authority to handle treatment for soldiers

Instead, the committee said the ministry must establish a new, almost completely independent authority to handle the issue.

According to Mor-Yosef, the ministry, with around 25 subdivisions, cannot be counted on to move fast enough in handling the issue.

But making this new authority independent, with its own budget, computer services, new resources, and authority to act without too many layers of still existing red tape, would improve the situation, he said.

While the budget allocated to this issue had already jumped from around NIS 5 billion to NIS 10b. from 2023-2026, another NIS 2b. per year is probably necessary, along with a one-time investment of more than NIS 500 million in establishing the new authority, the committee said.

Many of the changes recommended by the committee require new legal steps.

Given the upcoming election and the low likelihood that the Knesset can act fast enough on some of these thorny issues, Mor-Yosef recommended that the current government immediately pass new regulations to authorize the changes on a more rapid basis. That is how the situation eventually played out.

Prime Minister Benjamin Netanyahu said the government had approved “an unparalleled important national program for wounded soldiers and security forces – the male and female heroes who fought for the existence and the security of the State of Israel… the program will remove red tape, shorten waiting periods, widen responses and ensure that each person will be able to rapidly maximize their rights and receive all the aid allotted to them.”

Defense Minister Israel Katz said the country must “be there for each male and female soldier who is wounded physically or emotionally, and not only on the day in which they are harmed, but rather throughout the process of their rehabilitation.”

Defense Ministry Director-General Amir Baram said the committee would ensure proper implementation of the new government policy.

Finance Minister Bezalel Smotrich praised the approval. He and his ministry had initially opposed providing new funds to finance the changes, pushing instead for previously allocated funds to be used.

Political and public pressure on the issue, especially leading into the election, appears to have decided the intergovernmental dispute.

As recently as Tuesday, Katz attacked the Finance Ministry publicly for holding up the approval.

Since 2023, emotional trauma makes up around half of claims

Unlike past wars, where emotional traumas usually made up about 15% of claims filed, since 2023, nearly 50% of newer post-war claims filed include emotional trauma, such as PTSD. About 25,000 claims have been filed relating to recent wars since 2023.

One major change the committee recommended is financing a weekly visit to help with emotional trauma instead of once every two or three weeks.

In the past, the Defense Ministry has proposed individualizing services for each harmed soldier, including for PTSD, but the new policy would invest in this more heavily with larger budgets.

In addition, the ministry would provide an IDF representative when a harmed soldier comes before the committee for approving or rejecting requests for recognition and benefits.

In the past, many soldiers have complained that the committee treats them too much like litigants instead of showing sensitivity to their sacrifices and traumatic experiences.

Furthermore, the committee said special clinics should be established within areas where medical centers receive PTSD patients so that former soldiers can be around other former soldiers with similar issues. This way, they will not be exposed as much to chronic emotionally traumatized patients who often come from different backgrounds and suffer from different issues.

The ministry also said it would fund, negotiate, and organize the streamlining of carrying out more services for dealing with physical and emotional harm by digital processes and through the various large healthcare insurance companies.

Artificial-intelligence capabilities would also be used to move recognition and treatment processes along faster, it said.

Total claims of harm are now up to 87,000, with about 31,000 trauma and PTSD claims.

About 12,500 of the claimants from the current war, or nearly 50%, are above the age of 30; 16,000 of the claimants, or around 64%, are reservists; and 2,000 of the claimants are women.

IDF makes advancements in AI used to improve mental health treatments

The IDF and the Defense Ministry had made a major advance in using artificial intelligence to improve mental-health operations at medical centers that handle soldiers with PTSD, The Jerusalem Post reported exclusively this past January.

There is a full spectrum of treatments to handle symptoms, including group-based, individual, and occupational therapies. One focus is simply helping individuals calm down in the event of a negative episode.

The new medical IDF AI unit developed procedures for medical professionals to use EEG machines working with AI to provide feedback on individualized “calming cues.”

A soldier can now meet with a mental-health evaluator, using an EEG and AI, and then have a discussion.

There is research about whether exposure to a girlfriend or a beloved song during a rough episode has a better impact and improves stability and calmness, the unit’s commander told the Post.

AI can help figure out triggers for problems or for progress, he said.

Yet another area where AI is assisting in mental health for soldiers is helping reduce professionals’ record-keeping time so that they can invest more time in meeting with patients sooner and more often.

For example, without AI, mental-health professionals could spend a full hour analyzing a given set of records, during which they are not actually meeting with soldiers.

This post was originally published on here. 

Kraft Heinz is exploring a corporate breakup that could divide its grocery business from its faster-growing sauces and condiments division, a move that would reshape one of the world’s largest packaged food companies.

The company confirmed Thursday, July 16, that it is evaluating strategic alternatives designed to unlock shareholder value, including separating portions of its business into independent companies. The review follows increasing pressure from investors who believe Kraft Heinz’s diverse portfolio has limited its growth potential.

If completed, the restructuring would likely create one company focused on legacy grocery brands and another centered on higher-growth products such as ketchup, sauces, condiments and specialty foods.

Executives said no final decision has been made, but management is actively reviewing options that could improve long-term performance while creating greater operational flexibility.

The review comes as consumer shopping habits continue evolving.

While shoppers remain loyal to many Kraft Heinz household brands, they have increasingly shifted toward healthier foods, premium products and private-label alternatives as grocery prices remain elevated.

The company has responded by investing more heavily in innovation, product reformulations and faster-growing categories while continuing to reduce operating costs throughout its global business.

Analysts say separating slower-growing packaged foods from higher-margin condiment brands could allow each business to pursue different growth strategies while providing investors with clearer financial performance.

Kraft Heinz owns many of the best-known food brands in North America, including Kraft, Heinz, Oscar Mayer, Philadelphia, Velveeta, Jell-O, Maxwell House, Lunchables and Capri Sun.

The company continues generating billions of dollars in annual revenue, but overall sales growth has slowed as consumers become more selective with discretionary grocery spending.

Executives said the strategic review is intended to position the company for long-term success while adapting to changing consumer preferences and competitive pressures throughout the global food industry.

Investors generally welcomed news of the review, viewing a potential separation as an opportunity to improve efficiency, sharpen management focus and increase shareholder value.

Any transaction would still require approval from the company’s Board of Directors and could take many months to complete.

For consumers, the review is not expected to affect product availability or pricing in the near term. Grocery store shelves will continue carrying Kraft Heinz products while the company evaluates its long-term corporate structure.

The announcement represents one of the biggest strategic reviews in the consumer packaged food industry this year and could influence how other large food manufacturers organize their businesses in the years ahead.

JBizNews Desk | Chicago

© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.


Portal Innovations opened the New Jersey Innovation Hub at the HELIX in New Brunswick on Tuesday, launching a nearly 30,000-square-foot life sciences incubator with 16 founding member companies already committed — the largest pre-launch cohort in the company’s national network, according to founder and chief executive John Flavin.

The same day, BioNJ officially signed on as a foundational member, formalizing a commitment the life sciences trade association first announced in April.

Flavin said the turnout validates both the strength of New Jersey’s innovation ecosystem and the need for a connected national network built to help founders start and scale companies. The 16 founding members work across biotechnology, therapeutics and artificial intelligence.

What’s actually in the building

This is not co-working with a science label on the door. The space includes more than 140 lab benches and 80 desks, offices, large co-working areas, multiple conference rooms, on-site vivarium services and over $2 million in modern equipment.

That equipment number is the whole point. A two-person therapeutics startup cannot buy its own lab. It can rent a bench. Removing that capital barrier is how a state converts university research into companies that hire people, and it is the specific gap New Jersey has struggled with for years — plenty of discovery, not enough company formation.

Members also receive complimentary BioNJ membership, folding them into the state’s primary life sciences advocacy network from day one.

Who built it

The hub came together through an unusually crowded partnership: the State of New Jersey, Rutgers University, the New Jersey Economic Development Authority, RWJBarnabas Health, Hackensack Meridian Health, Portal Innovations, the New Brunswick Development Corporation, Johnson & Johnson, BioNJ and the broader HELIX ecosystem. Portal has also partnered with DEVCO and nearby universities including Rutgers and NJIT to spin companies out.

That list is the story behind the story. Getting a state authority, two competing hospital systems, a global pharmaceutical company, a public university and a trade association into the same building on the same terms is harder than raising the money.

BioNJ’s role

BioNJ President and CEO Debbie Hart said the membership reflects the association’s commitment to supporting innovation from discovery through commercialization. The organization will now convene the industry at the HELIX for committee and other meetings, operating from new space in New Brunswick alongside its existing Trenton offices.

BioNJ represents more than 400 research-based life sciences organizations, from the largest biopharmaceutical companies to early-stage startups, and has been at it for more than 30 years under the banner “Because Patients Can’t Wait.”

Flavin called BioNJ’s participation a meaningful endorsement, saying its leadership will deepen connections between startups, industry and research institutions and accelerate company formation in the state.

The economics

New Jersey’s life sciences workforce now tops 127,000 workers, according to a report released this month. It is one of the few sectors where the state can credibly claim national leadership, and one of the few where the wages are high enough to matter to the tax base.

But the market underneath is soft. Vacancy rates for life sciences space in Northern New Jersey rose in the second quarter, according to Savills. Lab space built during the boom is sitting. An incubator that fills benches with pre-revenue companies is a different product than an empty 100,000-square-foot building looking for a single tenant — and right now, the small format is the one moving.

The timing lands in a rough stretch for the state’s business reputation. The New Jersey Chamber of Commerce noted this month that New Jersey slipped from 30th to 31st in CNBC’s 2026 business rankings, behind New York, Pennsylvania and Connecticut. A 30,000-square-foot incubator does not fix that. It does give the state something concrete to point at.

What to watch

The number that matters is not 16. It is how many of those 16 are still in New Jersey in five years, and how many benches turn into leases somewhere else in the state. Incubators are judged on graduation, not occupancy.

For New Brunswick, the HELIX is the anchor of a redevelopment bet years in the making. Tuesday put tenants in it.

JBizNews Desk | New Brunswick © JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

Taiwan Semiconductor Manufacturing Company told investors on Thursday that it grew second-quarter profit 77% from a year ago and would lift its 2026 capital spending to between $60 billion and $64 billion, up from a prior range of $52 billion to $56 billion. The chipmaker beat Wall Street’s estimates. Its stock fell anyway — and dragged the entire semiconductor sector down with it for a second straight session.

The message traders took from the company’s own numbers was not about demand. It was about cost. TSMC is spending roughly $8 billion more this year than it told the market three months ago, and it warned customers to expect higher prices. For a group of stocks that has led the 2026 rally on the promise that AI spending pays for itself, that was enough to trigger selling across the board.

The backdrop did not help. U.S. Central Command confirmed a fifth consecutive night of strikes on Iran, and Washington has reinstated its naval blockade of Iranian ports near the Strait of Hormuz. Crude held near recent highs, Treasury yields moved up, and the Commerce Department reported June retail sales rose just 0.2%, in line with forecasts but weighed down by a 5.3% drop at gasoline stations. The Labor Department said initial jobless claims fell to 208,000 for the week ended July 11, below the 218,000 economists expected. The Philadelphia Federal Reserve’s manufacturing index jumped to 41.4 for July.

Where the indexes finished

Heading into the closing bell, the S&P 500 was down 59.13 points, or 0.78%, at 7,513.27. The Nasdaq Composite fell 454.66 points, or 1.73%, to 25,814.56 — the worst of the three by a wide margin. The Dow Jones Industrial Average gave back an early triple-digit gain to close down 253.08 points, or 0.48%, at 52,405.56. The Russell 2000 slipped 0.30% to 2,967.22.

The headline numbers hide what actually happened. Most S&P 500 members finished higher. The Invesco S&P 500 Equal Weight ETF was up roughly 0.6% on the day, and the NYSE Composite climbed 0.44%. Money did not leave the market — it left chips.

Market movers

The Philadelphia SE Semiconductor Index fell 3.8%. TSMC’s U.S.-listed shares dropped about 2% to $411.20 despite the record quarter. Memory names took the worst of it: SanDisk was the biggest decliner on the Nasdaq 100, off roughly 9%. Western Digital and Seagate Technology each fell about 7%. Micron Technology dropped 5.2% to $857.10. Arm Holdings, Marvell, Qualcomm, Intel, Broadcom, and Nvidia all traded lower.

On the other side, UnitedHealth Group beat second-quarter estimates and raised its 2026 profit forecast, sending shares up 4.6% to $437.61 and single-handedly keeping the Dow from a much worse day. Humana and Centene rose 4.4% and 3.5%. Coca-Cola and Home Depot each added better than 2%.

GE Aerospace was the day’s oddity — the jet-engine maker lifted its 2026 profit forecast and still fell 4% to $345.94. Corning lost 6.7%, ServiceNow fell 4.7%, and United Airlines dropped 2.8% as management pointed to higher fuel costs in its third-quarter outlook. IBM, Goldman Sachs, and Cisco Systems were the heaviest Dow decliners.

Analyst calls

JPMorgan upgraded BlackRock to Overweight from Neutral and raised its price target to $1,364 from $1,165. Capital One upgraded Palo Alto Networks to Overweight from Equal Weight with a $421 target, up from $307, and lifted Okta to Overweight with a $171 target, up from $126. Morgan Stanley upgraded Rocket Companies to Overweight with a $19 target. BofA raised Cintas to Buy with a $230 target. Goldman Sachs cut American Electric Power to Neutral with a $147 target.

Jay Goldberg, senior analyst at Seaport, questioned the economics behind Nvidia CEO Jensen Huang’s forecast that computing costs will climb toward $100 billion per gigawatt, calling it a contradiction in the company’s own business model.

Commodities and volatility

West Texas Intermediate traded just below $80 a barrel after settling at $79.60 Wednesday. Brent held under $85, following a 12% run over the previous three sessions. Gold fell 1.74% to $3,981.20. The CBOE Volatility Index rose 8.48% to 17.00. Traders are pricing in an 88% chance the Federal Reserve holds rates steady at this month’s meeting, according to CME’s FedWatch tool.

What comes next

Netflix reports second-quarter results after the bell. Wall Street expects $0.79 per share on revenue of $12.58 billion. The stock is down roughly 20% this year, and options traders are positioned for a move of nearly 9% in either direction.

JBizNews Desk | New York © JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

The recently passed 21st Century ROAD to Housing Act got a lot of love and attention, as it is supposed to be the first step toward building a lot more homes in America. But as is often the case, what politicians promise can be more hype than reality, and I believe this is another example.

My bias is that I don’t fundamentally believe the U.S. can have a housing construction boom unless housing demand takes off stronger than anyone currently thinks. While the bill could have some positive effects when it comes to manufactured housing, the expectation of significant changes for traditional homebuilding needs a reality check from the data.

Homebuilders aren’t excited

Back on planet earth, the people that actually build homes in America aren’t really excited about building more homes, as the laws of supply and demand economics are winning here. As always, the builders are here to make money; they’re not the March of Dimes. Today the builders’ confidence data was released, and lets just say, it’s not looking very positive.

Residential construction data looks almost recessionary

When people say housing represents the business cycle, they mean that the housing market typically goes into a recession first, before the broader U.S. economy does. That’s correct, but only if you use the proper data.

This is not about existing home sales or home prices. We have had many recessions post-World War 2, but if I take 2007-2011 out of the equation, home prices haven’t fallen by 1% or more in any other year, even though we had many recessions. In 1990, prices fell by 0.7%, and in 1991, they fell by 0.2%. 

In my economic cycle work I focus on residential construction, because the number of residential construction workers typically falls before every recession. Although most people are always working during every recession, certain sectors typically get hit harder. This data line doesn’t look recessionary yet, but it looks very weak.

So, the builders’ confidence data is bad and the residential construction side of the equation looks like it’s about to fall even more.

chart visualization

Housing starts

The majority of housing construction is single-family homes; we did have a mini multifamily construction boom in America during COVID, which wasn’t much in historical terms but better than the pre-COVID era. That has ended now, and rental vacancy is up from lows, with a lot of distressed landlords in the pipeline as loans recast.

chart visualization

However, when we look at housing starts with single-family homes, it’s not looking good either. That means we now we have falling builder confidence, falling housing permits and starts, and residential construction workers on the verge of flagging a U.S. recession. This should be a wake-up call for those saying a housing construction boom is coming.

chart visualization

Too many completed units of supply

When I say the builders aren’t the March of Dimes, it’s because they have to manage their supply-and-demand economics tied to their cost and profit-margin models. So, typically, when total completed units of sale are above 120,000, they’re not enthusiastic about building more homes. Here is the data for the month of Janaury going back decades, starting at 2025.

chart visualization

And here is the most recent home sales data.

chart visualization

My job as HousingWire’s Lead Analyst is to connect the dots so we can all be the detective and not the troll, and the charts above give everyone a sense of the reality of how life in America works.

Back in June of 2021, I cautioned everyone that when rates rise, the housing construction boom will end. The builders have done an admirable job keeping new home sales elevated by buying down rates; without that reality, housing construction would be a lot worse today. However, their profit margins have limits, so the point of today’s article is to show you how the housing market has operated for decades, and no law is going to change this unless the math and the money make sense for the builders.

This post was originally published on here. 

Homebuilder confidence fell again in July as affordability pressures and economic uncertainty continued to weigh on demand, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released on Thursday. 

According to the index, homebuilder confidence in July fell 2 points to a reading of 34, marking the 15th consecutive month with a reading below 40. The decline reflects ongoing headwinds from high mortgage rates and broader economic uncertainty impacting prospective homebuyers, compounded by elevated costs for land, labor and construction materials that continue to weigh on margins. 

The HMI additionally reported a negative reading on present sales (37), traffic of prospective buyers (23) and the outlook for the next six months (43).

In July, 37% of builders reported price cuts, an increase from 35% in June. The average price reduction held steady at 6%, and the share of builders that reported using sales incentives ticked up slightly to 63%, representing the 16th consecutive month this share has reached 60% or higher.

“Many potential buyers remain on the sidelines as they wait for lower mortgage rates, more certainty on inflation and a clearer economic outlook,” NAHB Chairman Bill Owens said in a statement. “The recently enacted 21st Century ROAD to Housing Act contains important provisions on land-use and zoning, regulatory reform and financing tools that address obstacles facing builders and buyers, but these reforms will take time to implement.”

“With the HMI below 40 for 15 straight months, affordability remains the home building industry’s primary challenge, as elevated mortgage rates, costly land, rising material prices, and persistent skilled labor shortages continue to affect the market,” NAHB chief economist Robert Dietz added.

“Looking ahead, the newly enacted housing law is a positive step that will help expand housing supply and lower overall housing costs, although more policy change is needed at the state and local level.”

The recently released June 2026 BTIG/HomeSphere monthly homebuilder survey, which surveys small- and mid-sized homebuilders, also found that homebuilders, by and large, remained cautious. 

According to the survey, sales rose for a second consecutive month, but only 35% of builders reported higher year-over-year sales, while 27% reported lower year-over-year sales. 

Customer traffic strengthened more sharply, the survey found. In June, 38% of builders reported higher year-over-year traffic, nearly doubling the 20% who reported higher traffic in May and nearing February’s recent high of 43%. Traffic had been steadily deteriorating from February through May, partially due to increased economic and geopolitical uncertainty. 

The survey additionally reported that 29% of builders said June sales were better than expected, while 31% reported worse-than-expected sales. Traffic relative to expectations was also relatively weak, as only 27% of builders reported better-than-expected traffic, while 33% reported worse-than-expected traffic. 

Additionally, 19% of builders raised some, most or all base prices in June, while 15% lowered them. Incentive activity was largely unchanged as well, with 29% of builders increasing some, most or all incentives; 6% decreasing incentives; and 54% reporting no changes. 

A weaker-than-expected spring selling season

The survey results come amid a weaker-than-expected spring selling season for homebuilders, who entered 2026 with cautious optimism. But economic uncertainty stemming in part from the Iran conflict kept many prospective buyers on the sidelines.

In March, new home sales increased 3.3% year over year, but the median price fell 6.2% to $387,400. This implies that economic and geopolitical uncertainty impacted homebuyer demand. 

In April, new home sales fell to a seasonally adjusted annual rate of 622,000, representing a 6.2% decline from March and an 11.3% annual decline. At the same time, median sales prices ticked up 2.2% year over year and 8% from March to $422,500, indicating that builders deployed incentives to keep price growth positive. 

In May, new home sales fell to a seasonally adjusted annual rate of 580,000, down 7.3% from April and down 6.8% year over year. On the bright side for builders, the median price rose 2% to $424,900. 

The June new home sales data, scheduled for release next week, will likely offer an important look into how the tail end of the spring selling season performed. 

This post was originally published on here. 

The Beshara Real Estate Team, a RealTrends Verified-ranked team in Marrietta, Georgia, led by principal agent Brenda Beshara, has joined Compass Atlanta after 19 years with Keller Williams, the company announced on Wednesday.

Based in East Cobb, the seven-person team serves buyers and sellers across East Cobb, North Atlanta and the greater metro Atlanta area, according to the announcement. 

RealTrends Verified recognized the Beshara Real Estate Team as a 2026 Top Team by Volume and Top Team by Sides. The team ranked No. 61 in Georgia by transactions and No. 63 in Georgia by sales volume, as well as the No. 5 ranked team in the city by volume and No. 6 ranked team by sides. In total, the small team closed 62 sides and $36.23 million in sales volume in 2025 to earn these rankings, according to RealTrends Verified data. 

“We’ve always believed that putting our clients first is the foundation of everything we do,” Beshara said in the announcement. “Joining Compass allows us to pair that personalized service with an innovative platform, industry-leading marketing and best-in-class technology. We’re excited to continue growing while giving our clients access to even more resources and opportunities throughout every stage of their real estate journey.”

Beshara has worked with real estate clients since 2003, bringing more than 20 years of residential experience. Before launching her real estate career, she spent nearly two decades in the mortgage industry, including roles at Freddie Mac and HomeBanc. 

“Brenda has built an outstanding business rooted in trust, relationships and an unwavering commitment to her clients,” said Bill Murray, senior managing broker of Compass Atlanta. “Her reputation throughout East Cobb and North Atlanta speaks for itself, and we’re thrilled to welcome Brenda and the Beshara Real Estate Team to Compass. We look forward to supporting their continued success.”

The addition of the Beshara Real Estate Team is part of Compass’ broader strategy to grow its presence across the Atlanta region by recruiting established producers and teams, the company said.

This article was written by Brooklee Han and generated with the assistance of HousingWire Automation, then reviewed by a HousingWire editor before publication.

This post was originally published on here. 

Cody Pearce has returned to YES Communities, one of the nation’s largest manufactured housing community operators, as president, effective July 13, 2026, the company announced.

Pearce will oversee day-to-day operations at one of the nation’s largest owners and operators of manufactured housing communities and work alongside CEO Steven Schaub to support the company’s growth strategy and long-term vision, according to the announcement.

He previously served as executive vice president of business operations at YES Communities, where he helped advance operational and strategic initiatives. Pearce’s return gives the company a president with experience across community operations, finance and lending at a time when manufactured housing is drawing more attention as an affordable housing option.

In addition to his earlier tenure at YES Communities, Pearce co-founded Cascade Financial Services LLC, where he served as president, and most recently was co-CEO of Triad Financial Services. He also serves as vice chairman of the Manufactured Housing Institute, a national trade group representing all segments of the factory-built housing industry.

“Cody’s return marks an exciting new chapter for YES Communities,” Schaub, CEO of YES Communities, said in the announcement. “He understands our business, our culture, and most importantly, our commitment to providing exceptional communities for our residents. His leadership experience, industry expertise, and passion for our mission make him the ideal person to lead our day-to-day operations as we continue to grow.”

Pearce said his focus will be on supporting residents and operational execution across the platform.

“I am thrilled to work with Steve Schaub and the YES Team as we continue serving our residents and stakeholders. Together, we will build on our strong foundation, foster a culture of excellence, and create meaningful opportunities for growth and success,” Pearce said.

As CEO, Schaub will continue to lead the company’s overall strategic direction, while Pearce assumes responsibility for operational leadership across the organization.

This post was originally published on here. 

Nearly 15 years after opening its doors in the wake of the financial crisis, the Consumer Financial Protection Bureau (CFPB) is operating in a markedly different form than it did just a year ago.

Since the Trump administration took over at the start of 2025, the agency’s operations have been in limbo. In February 2025, Russell Vought, an architect of the conservative policy blueprint Project 2025 and the head of the White House Office of Management and Budget (OMB), was named the new acting head of the CFPB. 

Vought quickly suspended most agency operations, closed the bureau’s headquarters and announced he would halt its funding. Two months later, the administration moved to eliminate roughly 90% of the CFPB’s workforce, triggering a legal battle that temporarily blocked the layoffs. A federal appeals court later allowed the reductions to proceed, leading to about 1,500 employees being dismissed.

During an October 2025 appearance on “The Charlie Kirk Show,” Vought vowed to eliminate the agency. The following month, President Donald Trump nominated Stuart Levenbach, an associate director at the OMB, to serve as CFPB director. 

But in January 2026, the Senate returned Levenbach’s nomination to Trump without taking action, a procedural move that allows Vought to remain at the agency’s helm through Aug. 1, when his authority under the Federal Vacancies Reform Act expires.

Vought has defended his wind-down of the agency’s operations. In testimony this week before the House Financial Services Committee, Vought said the CFPB had overstepped its congressional mandate, creating unnecessary costs for consumers and financial institutions. He also argued that the bureau’s current funding structure has contributed to what he called a “cavalier attitude” and a “swagger” in the workplace.

The agency, which will mark its 15th anniversary on July 21, now faces another turning point as Vought’s reign is set to expire. On June 10, the White House nominated Brian Johnson, a former CFPB deputy director under Kathy Kraninger, to serve as director of the CFPB. As of July 16, the nomination is still pending. 

Activity at the lower-profile bureau

Johnson’s nomination and the approaching expiration of Vought’s tenure have renewed questions about the bureau’s future. Staff reductions and shuffling, coupled with Vought’s scaled-back enforcement agenda and the agency’s avoidance of the public spotlight, have fueled speculation that the agency has largely ceased functioning. 

Unlike previous administrations, where enforcement actions, settlements and policy initiatives frequently made headlines, the bureau under Vought has released relatively little information about its day-to-day operations.

Marx Sterbcow, the managing attorney of Sterbcow Law Group and owner of the RESPA Resource Law Center, said the bureau is “still functioning” and continues to bring cases, but its emphasis has narrowed to issues with a clearer federal nexus, including protections for veterans and elderly consumers.

At the same time, Sterbcow said the CFPB has deliberately pushed more mortgage- and real estate-related matters to states to avoid duplicative oversight of the same firms by multiple regulators.

“There are Civil Investigative Demands that are still going out; you just don’t hear about them,” Sterbcow said. “Internally, the way the bureau has looked at it is that the states have multiple regulators looking at all of these different things, so instead of having six or seven regulators involved, they push some of this work off to the states so it doesn’t overburden the bureau from a regulatory perspective.”

As the CFPB has pulled back from some areas, Sterbcow said state attorneys general and financial regulators have dramatically increased their activity. “I’ve never been busier with state enforcement actions than I have been over the last three years,” he said. 

But the states taking on more isn’t necessarily a bad thing. “In my own practice, I’ve seen increased activity at both the state attorney general level as well as state banking regulators who do exams and the like,” said Lucy Morris, a partner at Hudson Cook LLP. 

Sterbow added: “Even when consumer complaints were going to the bureau, a lot of the process felt like a rubber stamp to move the file and bring up the numbers. It was more of a data play than anything else, and many consumers told me they felt that way because their disputes were closed out without any meaningful resolution.”

When asked about how consumers are perceiving the bureau’s lack of public enforcement actions, Morris said she still hears about “motivated” consumers submitting complaints. 

“I don’t know how the average consumer perceives what’s happening in Washington. I think consumers are still making complaints,” she said. “So I think if consumers have issues, and they’re motivated, they will complain to everyone they can complain to get relief, so I don’t know that that’s really affected how consumers are behaving.”

A shift from dismantling to reform?

Johnson’s nomination, however, tells a different story. Morris pointed out that nominating someone with as much relevant background and experience as Johnson could signal that the administration is shifting away from efforts to significantly curtail the CFPB’s operations.

“He’s certainly qualified, and I think somebody who, at least based on my understanding, is not looking to destroy the agency,” Morris said. She added that Johnson “would take this nomination seriously and intend to fill that role.”

Richard Horn, co-managing partner at Garris Horn LLP, agrees that the nomination represents the tide turning from reducing the agency’s footprint to focusing on regulatory change. 

“Brian Johnson has such a substantial amount of experience in consumer financial regulation,” Horn said. “You wouldn’t need to put somebody with that complete subject matter expertise at the agency just to basically undertake shutting it down; you would put somebody with that subject matter expertise if you wanted to engage in regulatory reform.”

Morris said Johnson’s previous service as deputy director under Kraninger could offer clues about his approach if he is confirmed.

“I think you would see [Johnson] being supportive of innovation and trying to have clear rules of the road for fintechs and others,” she said. “Under Kathy Kraninger, there were a lot of enforcement actions, so I think you would have a return to enforcement and supervision, and not crazy stuff, but focus on the fraud side of things.”

Morris also suggested political considerations could have influenced Johnson’s nomination. 

“Maybe another reason he was nominated is that midterm [elections] are coming and in a couple of years, you’ll have another presidential election, and I think that part of the bureau’s mission is to kind of protect consumers around issues relating to affordability, and so shutting the agency down isn’t really maybe may not be the message that folks want out there right now,” she said.

“I think that nominating somebody like Brian Johnson leaves the impression that the agency will stay in place and maybe return to normalcy, in a sense.”

But despite the nomination and Johnson’s experience, Horn said there appears to be little urgency to secure Johnson’s confirmation because CFPB deputy director Mark Paoletta — who also serves as general counsel for the OMB — has been overseeing the agency’s day-to-day operations during Vought’s tenure.

If Johnson’s nomination doesn’t pull through before Aug. 1, Paoletta would most likely take the acting director role. “The administration’s probably comfortable with the personnel that are there now,” Horn added. 

Even so, Horn said, confirming a permanent director could become increasingly important if the administration hopes to complete new rulemaking processes before the end of Trump’s second term. 

“With only a little over two years left in the administration, for new proposals that they want to finalize, they need to start working on them,” he said. “It’d be helpful to have a permanent director who has as much experience as Brian Johnson has to do that.”

Business as usual for lenders

From the perspective of one mortgage lender, the day-to-day impact of the CFPB’s quieter posture has been limited so far, said Dani Ploch, chief operating officer of DAS Acquisition Co., a dba of USA Mortgage.

“From a practical level, we’re kind of conducting business as usual,” she said. “There’s a lot of uncertainty, no clear direction. So from our perspective, we’re operating as though there hasn’t been much adjustment at the CFPB level.”

Much of the industry’s anxiety is centered on the possibility that states will move to fill any perceived gaps in federal oversight. That uncertainty has left lenders looking for clear direction out of Washington rather than a patchwork of state-level edicts.

“We would love for there to still be more precise national guidance,” she said. “But until we have confirmed direction from what’s happening at the CFPB, we’re just on pins and needles, waiting for what the states are going to come out with.”

Ploch said the Johnson nomination is viewed less as a dramatic policy shift and more as a potential source of clarity for regulated firms.

“There’s just so much uncertainty, and any direction that can be given as soon as we have somebody confirmed, regardless of who that is, lenders can work within a framework,” she said. “I don’t know what that framework looks like right now, but that’s what we’re looking for, and I think many financial institutions are.”

This post was originally published on here. 

Instantly recognizable from the street for its rounded turret and Spanish clay-tiled roof, the townhouse at 1094 Park Place is among the iconic mansions that give Crown Heights its appeal. The beautifully preserved home has another covetable feature unique to the Brooklyn neighborhood: a deep 120-foot lot for a back yard that stretches farther than most. Asking $3,845,000, this landmarked home is ready for 21st-century living behind its stunning original details and standout facade.

Designed by Brooklyn architect Henry B. Moore at the turn of the 20th century, the single-family home was listed earlier this year for just under $4 million, as Curbed reported. Last summer, it hit the market as a rental for $13,950/month.

The property is fronted by a wide wrap-around porch. Inside, stained-glass windows and intricately carved woodwork surround a sweeping center stair.

Generously proportioned rooms open beneath high beamed ceilings. An elegant front parlor provides entertaining space; within the rounded turret, gently curving windows and preserved wood floors create a sense of timelessness. A thoroughly modern eat-in kitchen invites gathering; a formal dining room is surrounded by the elegance of another era.

Behind the kitchen, step out onto a deck overlooking the yard. Below, garden pathways wind through lush plantings and mature trees. At the back, take shelter in a shaded pergola.

There are two floors of bedrooms. The home’s top floor holds a suitably elegant primary suite, with a large, sunny sitting room that takes full advantage of the home’s unique architecture. There’s also a dressing room and a washer/dryer on this floor.

A full basement adds a wealth of options. With a kitchen, play space, and gym, it becomes a wellness refuge, guest quarters, or party central.

At the side of the house, a sweeping drive offers the rare perk of off-street parking, topped by a covered carport. A planted garden in front adds privacy as well as beauty.

[Listing details: 1094 Park Place by Alexander Boriskin, Michael Lorber, Jared Halpern, and Jorge Barrios of Douglas Elliman]

RELATED:

The post For $3.8M, this Queen Anne mansion in Crown Heights is a neighborhood landmark first appeared on 6sqft.

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The IRS this week announced changes in the amount that taxpayers may deduct in gas used per mile while operating a vehicle for business for the remainder of the year amid higher gas prices.

The tax collection agency noted that the change “results from recent increases in the price of fuel” and will allow for larger mileage deductions for business, medical and moving expense purposes.

Under the revision, the standard mileage deduction rate for business will increase to 76 cents per mile, up from 72.5 cents a mile.

Deductions for medical and moving purposes will also rise to 23.5 cents per mile, rising from the previous rate of 20.5 cents.

WHITE HOUSE, GAS STATIONS POINT FINGERS OVER STUBBORN PRICES WHILE LOCATIONS THAT SLASHED PRICES SEE BOOM

The IRS’ changes to the mileage deduction are effective starting this month, retroactive to July 1, 2026.

The Journal of Accountancy noted that the IRS’ revision is the first midyear adjustment of the standard mileage rate since 2022.

Gas prices surged following the outbreak of the Iran war, which disrupted the flow of oil from the Middle East through the Strait of Hormuz and has in turn contributed to higher gasoline prices at the pump.

DOJ AND FTC PRESS STATES TO TARGET ANY ILLEGAL ACTIVITY CONTRIBUTING TO HIGH GAS PRICES

Data from AAA shows that the national average cost of a gallon of gasoline was $3.943 as of Thursday. That’s up from $3.16 a gallon a year ago, which represents an increase of 24.7% over the past year.

There has been some relief for drivers in recent weeks, as the average price of gas is down from $4.044 a gallon a month ago.

Gas prices have been a major factor in inflation rising this year, with the latest consumer price index (CPI) data showing gas prices are up 26.7% compared with a year ago.

BESSENT WARNS GAS STATIONS ‘WE’RE WATCHING’ AS TRUMP DEMANDS IMMEDIATE PRICE CUTS

That rise is despite the CPI inflation data showing a 9.7% decline in gas prices in the month of June as energy flows through the Strait of Hormuz picked up, but further declines will be needed to offset the large increases seen in the first few months of the conflict.

Headline CPI was up 3.5% in June, well above the Federal Reserve’s target rate of 2%, which has cast doubt on the ability of the central bank to cut interest rates this year if inflation remains persistently above target.

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NORTH PLAINFIELD, N.J. — Artificial intelligence is rapidly moving from experimentation to everyday business strategy, with nearly half of retailers making new technology investments this year and two-thirds actively using or evaluating AI, according to a new mid-year industry survey released Wednesday by Levin Management Corp.

The findings suggest retailers are no longer asking whether to adopt artificial intelligence—they are deciding how quickly they can deploy it.

The survey found 47.8% of retailers have increased technology investments during 2026, while 66.4% reported they are either already using AI, testing AI tools or actively exploring how artificial intelligence can improve their businesses.

For retailers facing rising labor costs, inflation and changing consumer expectations, technology is increasingly becoming a competitive requirement rather than an optional investment.

AI Moves Into Everyday Retail Operations

Retailers are deploying artificial intelligence across a growing range of business functions.

Rather than focusing only on customer-facing chatbots, companies are using AI to improve inventory management, forecast demand, automate marketing campaigns, personalize promotions, streamline customer service and optimize staffing levels.

Many businesses are also integrating AI into financial reporting, product recommendations and supply chain management.

The shift reflects a broader movement toward operational efficiency as retailers search for new ways to increase productivity while controlling expenses.

Technology Spending Continues to Rise

The survey indicates retailers remain willing to invest despite continued economic uncertainty.

Business owners increasingly view technology upgrades as long-term investments capable of improving profitability, customer satisfaction and operational performance.

Artificial intelligence has become one of the fastest-growing categories within those technology budgets as software providers continue introducing new tools designed specifically for retail businesses.

Companies that once delayed digital transformation are now accelerating adoption to remain competitive.

Competition Driving Adoption

Consumers increasingly expect faster service, personalized recommendations and seamless shopping experiences whether purchasing online or inside physical stores.

Meeting those expectations often requires advanced technology operating behind the scenes.

Retailers that fail to modernize risk falling behind competitors that use AI to improve pricing, inventory accuracy, customer engagement and operational efficiency.

The survey suggests many retailers recognize that challenge and are responding by increasing technology investments.

Brick-and-Mortar Stores Continue to Adapt

While e-commerce remains important, physical retail locations continue investing heavily in technology.

Artificial intelligence is helping store operators better understand customer traffic, improve merchandising decisions and manage inventory more efficiently.

Shopping centers are also benefiting as retailers modernize operations to create more engaging in-store experiences while integrating digital capabilities with traditional retail.

The combination of physical locations and AI-powered business tools is becoming an increasingly important competitive advantage.

Looking Ahead

The survey reinforces a broader trend unfolding across nearly every industry: artificial intelligence is transitioning from a future technology to a core business tool.

For retailers, the question is no longer whether AI will reshape operations—it already is.

Businesses that invest today may gain meaningful advantages in efficiency, customer service and profitability, while those that delay adoption risk losing ground in an increasingly technology-driven marketplace.

As retailers prepare for the critical holiday shopping season, artificial intelligence is expected to play a larger role than ever in how stores manage inventory, serve customers and compete for consumer spending.

JBizNews Desk | North Plainfield, New Jersey

© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

General Mills is pulling more than 735,000 Pillsbury bread rolls from shelves due to concerns the products may contain glass.

The recall affects certain frozen Pillsbury bread rolls, including “Hard Roll Dough” and “Kaiser Roll Dough” products, according to a recall report shared by the Food and Drug Administration (FDA).

The FDA classified the recall as Class II on July 13. A Class II recall means that using the product could cause “temporary or medically reversible” health consequences.

BMW RECALLS NEARLY 30K VEHICLES OVER ENGINE STARTER DEFECT THAT COULD CAUSE FIRE

The affected units include 3,080 cases of Pillsbury “Hard Roll Dough” products, with 180 units per case. They have “Better if Used by” dates of Oct. 12, 2026, and Oct. 13, 2026, with lot numbers 11JUN6JL and 12JUN6JL.

The recall also includes 1,260 cases of Pillsbury “Kaiser Roll Dough” products, with 144 units per case. Those products have a “Better if Used by” date of Oct. 13, 2026, and lot number 12JUN6JL, as noted in the report.

CUISINART STAINLESS STEEL PROPANE GRILL SOLD AT LOWE’S AND WALMART RECALLED OVER SHATTERING GLASS RISK

The recalled cases amount to roughly 735,840 rolls.

The products were distributed in Arkansas, California, Florida, Georgia, Indiana, Louisiana, Maine, Missouri, New Mexico, New York, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Washington and Wyoming, the FDA said.

MORE THAN 1.7M GRILL BRUSHES RECALLED OVER BRISTLE HAZARD, RISK OF ‘SERIOUS INTERNAL INJURIES’

The recall comes amid several other recent food safety alerts.

The FDA also recently upgraded a recall of certain Utz Quality Foods potato chips to its highest risk classification, warning that the products could cause serious health consequences or death if contaminated with salmonella.

FOX Business reached out to General Mills for comment.

FOX Business’ Brittany Miller contributed to this report.

This post was originally published here. 

JOHANNESBURG — Amazon’s satellite broadband business has secured its first major distribution agreement in Africa, partnering with South African internet provider Herotel to launch satellite internet service across the country while rival Starlink remains unable to operate because of South Africa’s licensing rules.

The agreement gives Amazon an early foothold in one of Africa’s largest telecommunications markets and highlights how different regulatory strategies are shaping the race to expand satellite broadband across the continent.

Commercial service is expected to begin in 2027 under a new consumer brand called evry, with customer registration already open.

Amazon Chose a Different Strategy

Rather than waiting for regulators to change licensing rules, Amazon partnered with an established local telecommunications company.

Herotel, South Africa’s largest fixed internet service provider, already holds the licenses required to operate in the country. That allows Amazon to provide satellite connectivity through a fully licensed local partner instead of seeking its own operating authority.

The approach contrasts sharply with Starlink, which has spent years seeking regulatory approval to enter South Africa.

Because Herotel already maintains technicians, customer support and service infrastructure throughout the country, Amazon will also gain an established installation and maintenance network from the first day of commercial operations.

Starlink Still Waiting

While Starlink has expanded rapidly across many African countries, South Africa remains one of its largest missing markets.

The company continues waiting for changes to ownership and licensing regulations administered by the Independent Communications Authority of South Africa (ICASA).

Those rules require telecommunications operators to meet local ownership and empowerment requirements before receiving licenses.

Amazon’s partnership structure effectively allows it to enter the market without waiting for those regulations to change.

Targeting Rural Communities

The new satellite service is expected to focus primarily on underserved communities where traditional broadband remains difficult or uneconomical to build.

Many rural regions continue lacking reliable high-speed internet because extending fiber-optic networks across long distances is expensive and often impractical.

Low-Earth-orbit satellite systems provide broadband with significantly lower latency than traditional geostationary satellites, making applications such as video conferencing, online education and business communications more practical.

Herotel’s nationwide service network is expected to help accelerate adoption by handling installation, customer service and technical support locally.

Competition Is Just Beginning

Although Amazon has secured an important commercial victory, it still trails Starlink significantly in satellite deployment.

Amazon continues building its satellite constellation while Starlink already operates thousands of satellites worldwide and serves millions of subscribers.

The South African agreement therefore represents a strategic market entry rather than technological leadership.

For Amazon, the immediate opportunity lies in establishing customer relationships before additional competitors receive regulatory approval.

Why It Matters

The agreement demonstrates that regulatory strategy can be as important as technology in global telecommunications.

Rather than waiting for policy changes, Amazon found a licensed local partner capable of bringing satellite broadband to market under existing regulations.

For businesses and consumers in rural South Africa, the partnership promises another source of high-speed internet access.

For the broader satellite industry, it underscores that winning new markets increasingly depends not only on launching satellites into orbit, but also on navigating local regulations and building strong regional partnerships.

JBizNews Desk | Johannesburg

© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

Highway 4 was closed in both directions from 4 p.m. until approximately 9 p.m. on Thursday due to a haredi (ultra-Orthodox) protest in Bnei Brak, Israel Police confirmed.

A police officer at the scene declared the demonstration illegal, Israel Police confirmed. Protesters at the scene shouted chants towards the police officers, including calling them “antisemites,” police added.

The closure affected the highway between the Aluf Sade Interchange, south of Ramat Gan, and the Em Hamoshavot Interchange, north of Bnei Brak, police added.

At least one officer was wounded after being hit in the head by a bottle. Protesters also threw rocks and other objects at police officers, Israel Police said. In addition, protesters smashed the window of at least one private vehicle.

Police arrested at least two protesters throughout the incident.

Israel Police officers attempt to disperse a haredi (ultra-Orthodox) protest blocking Highway 4 near Bnei Brak, July 16, 2026. (CREDIT: ISRAEL POLICE)

Video footage seen by The Jerusalem Post appears to show haredi protesters sitting in the highway blocking cars, buses, and other vehicles from being able to pass at Highway 4’s Geha Interchange.

The footage also shows Israel Police and Border Police officers at the scene.

Haredi (ultra-Orthodox) protesters block Highway 4 near Bnei Brak, July 16, 2026. (CREDIT: VIA WALLA)

The protesters continued to block the highway despite police requesting that they move, Israel Police said.

The police advised the public to seek alternative routes, noting that additional traffic will likely occur on adjacent highways.

Meanwhile, social activist Lee Hoffman Agiv led a counter-demonstration calling for an end to “exclusion of women and gender segregation.”

Ultra-Orthodox protesters tear banner from social activist’s hands, she says

Haredim at the scene tore Hoffman Agiv’s banner from her hands while shouting insults at her, she said.

Social activist Lee Hoffman Agiv led a counter-demonstration calling for an end to ''exclusion of women and gender segregation in Bnei Brak, July 16, 2026. (credit: VIA WALLA)

“This violence is the direct result of the incitement and segregation that they are trying to dictate to us. They can tear down signs, but they will not succeed in silencing us. The battle for public space is not a ‘recommendation,’ it is the struggle for the face of Israel. We will not back down,” Hoffman Agiv added.

Additionally, a second protest on Thursday evening attracted thousands of haredim outside Military Prison 10 in Beit Lid due to the arrest of a haredi draft dodger.

Alon Hachmon contributed to this report.

This post was originally published on here. 

The Trump administration is expected to broaden the scope of its military campaign against Iran, according to two sources familiar with the matter.

The anticipated expansion would include both a wider range of strikes and an expanded list of targets. However, officials cautioned that it remains unclear when the next phase of the operation will begin or what level of increased military activity US President Donald Trump will ultimately authorize.

At the same time, Iran has publicly warned that it will escalate its missile attacks if Washington intensifies its military campaign.

“If President Donald Trump carries out his threat to hit Iranian infrastructure, then Iran will destroy all infrastructure throughout the region,” an Iranian military spokesperson said on Thursday.

Iran threatens regional attacks if US intensifies military campaign

An Israeli official told The Jerusalem Post that Tehran is likely to continue refraining from launching attacks against Israel as long as the United States does not significantly escalate its campaign.

Israeli officials believe the Iranian leadership is seeking to avoid opening another front with Israel while calibrating its response to US military action.

However, they cautioned that any expansion of the American operation could prompt Iran to reconsider its current restraint.

This post was originally published on here. 

Israel’s Knesset completed its legislative blitz ahead of its dissolution, which will be on July 17.

Here are some of the most important – and controversial – bills that passed, and what they mean for the State of Israel:

Basic Law: Torah Study – 63 for, 52 against

This law, one of two major bills pushed by the haredi (ultra-Orthodox) parties, sought to enshrine Torah study as a fundamental value in the country’s Basic Law.

The bill states that “Torah study is a fundamental value in the heritage of the Jewish people and in the State of Israel.” Israel does not have a constitution. Instead, it has a series of Knesset-enacted basic laws on various subjects that have high legal status.

Critics argue the Basic Law: Torah Study bill encourages draft evasion and changes the status of yeshiva students who do not serve, enabling them to continue receiving state benefits even amid the IDF’s severe manpower shortage.

What this actually means: Enshrining Torah study in Israel’s basic law will make it much harder for courts to challenge the arrangements in place that let haredi yeshiva students avoid mandatory service in the IDF, as the avoidance can now be defended as students protecting one of Israel’s core values.

Halting arrest of haredi draft evaders – 58 for, 54 against

The second major haredi-backed bill called for a temporary freeze on the arrests of haredi draft dodgers, and it was passed despite severe legal warnings that the legislation is unbalanced.

IDF Chief of Staff Lt.-Gen. Eyal Zamir warned that such a law would decrease recruitment both from the haredi community and from the general Israeli population by delegitimizing the idea of the IDF as the “nation’s army” in which everyone is equally obligated to serve.

While this was designed as a temporary freeze, set to run until November 30, the law was frozen by the High Court of Justice within a day of passage.

What this actually means: Right now, it’s unclear. With the High Court temporarily freezing the law, its entry into force has been suspended until further notice. Without the High Court’s intervention, over 72,000 haredi men would continue to evade arrest. Moving forward, this could normalize non-enlistment, and, as Zamir warned, this would decrease recruitment across the board, furthering the burden on the IDF’s reservists and soldiers in mandatory service.

Weakening influence, oversight capabilities of attorney-general – 65 for, 51 against

The bill, which Prime Minister Benjamin Netanyahu’s coalition has been pushing to pass during the government’s term, aimed to significantly weaken the attorney-general’s power to influence and oversee the government.

Its passage came amid the government’s ongoing rift with the judiciary and Attorney-General Gali Baharav-Miara.

The bill will grant the government the ability to disregard the attorney-general’s legal opinions, which are generally treated as binding on the executive branch unless a court rules otherwise.

What this actually means: The A-G’s legal opinions function less like advice and more like a binding rule on Israel’s executive branch, and are the real-time check on government action before courts get involved. This law removes that default, and if the government disagrees with the A-G, it no longer needs to convince a court in advance; it can just proceed on its own reading of the law, and the only recourse is after the fact, through a High Court petition.

Sweeping reforms to Israel’s broadcasting sector – 53 for, 48 against

This bill, pushed heavily by Communications Minister Shlomo Karhi (Likud), is the first move that aims to enact sweeping reforms to Israel’s broadcasting sector.

The legislation is expected to grant the government substantial control over broadcasting media in the country.

Critics argue that the legislation could harm freedom of the press and ultimately benefit outlets such as Channel 14, while negatively impacting channels such as Channel 12, which coalition MKs and ministers have claimed is anti-government.

The bill was split into two parts, with this one focusing mainly with restructuring Israel’s broadcasting oversight system, including laying the groundwork for a new media regulator, setting financial and local production requirements for content providers, and, most notably, regulating how content from Israel’s public broadcaster, KAN, and the Knesset Channel is distributed, and outlining how the changes would be implemented and gradually phased in.

What this actually means: The bill replaces existing broadcasting oversight bodies with a new regulatory council, most of whose members are chosen by the communications minister, shifting control over who can broadcast and under what terms into the minister’s hands rather than an independent body.

This post was originally published on here. 

Hamas is no longer capable of carrying out a terror infiltration, as seen on October 7, 2023, IDF Central Command Chief Maj.-Gen. Avi Bluth said on Wednesday.

“The threat of a terror infiltration like on October 7 is no longer possible,” he stated.

“More than 60% of the Strip is in our hands. There is a security zone for the Gaza border communities held by two divisions and the finest IDF soldiers,” he added.

Hamas, however, still remains a threat according to Bluth.

“But our eyes are open, and we can see and identify the challenges that still exist. Hamas still rules, and the murderous organization retains residual capabilities, while its vision of destroying Israel has not changed,” he said.

“Our work has not finished,” he told the assembled officers and soldiers.

“We stand here in the northern Gaza Strip, and we have achieved a great deal,” Bluth said.

Bluth was speaking at a change-of-command ceremony for the military’s 99th Division at Netiv Ha’asara, a Gaza border community north of the strip.

The 99th Division is a reservist division, officially under the Central Command, but aided in repelling infiltrating terrorists following the October 7 massacre, and operated in the Gaza Strip throughout the Israel-Hamas War.

Israel now controls up to 70% of Gaza, military officials brief Security Cabinet

Bluth’s comments follow two Israeli sources telling The Jerusalem Post that senior military officials briefed the Security Cabinet that the IDF controls between 67% and 70% of the Gaza Strip.

Under the hostage-release agreement, the IDF was expected to remain in roughly 53% of the Gaza Strip, along what became known as the Yellow Line.

Several weeks ago, Netanyahu and Defense Minister Israel Katz instructed the IDF to expand its control to 70% of the Gaza Strip.

“My directive is to move to 70% control of the Gaza Strip,” Netanyahu said at a conference in the Jordan Valley at the end of May.

As audience members called on him to take control of 100% of the territory, Netanyahu urged patience.

“We’re at 60% right now. Let’s do this step by step, first 70%,” he said.

Amichai Stein contributed to this report.

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White House Press Secretary Karoline Leavitt asserted that Iran is “not the once very strong, powerful terrorist state that they were” before the US’s Operation Epic Fury against the Islamic Regime in Tehran, during a press briefing on Wednesday.

When asked about the status of US-Iran negotiations, she claimed that Iran’s leadership is still speaking with the US and has expressed interest in reaching another peace deal after the recent collapse of the US-Iran Memorandum of Understanding.

She elaborated that the reason behind the collapse and recent, renewed strikes against Iran was due to Tehran’s violations of the MoU.

“In the MoU that they signed, they were not to fire on commercial vessels moving through the Strait of Hormuz. Unfortunately, they have made the tragic decision… to do that,” Leavitt stated.

“President Trump is not going to sit by and allow these active acts of terror to take place in the strait without ensuring Iran pays consequences for that, and that’s what we’re witnessing right now,” she added.

Iranian strikes in Hormuz validate reasoning behind Operation Epic Fury, Leavitt says

Leavitt stated that Iran’s strikes on vessels in the strait validate US President Donald Trump’s initial reasoning for launching Operation Epic Fury in February, but noted that he is “always open and willing to [engage in] diplomacy.”

She added that the US has proven to the world that it maintains the ability to strike Iran “anytime, anywhere, and any place.”

Leavitt additionally touted that American strikes “neutered” Iranian leadership’s ability to communicate, thus transforming the regime into a “fragmented system.”

This post was originally published on here. 

WASHINGTON — A Senate vote to halt a Medicare pilot that uses artificial intelligence to approve or deny care failed along party lines on Thursday.

Republicans voted to block consideration of a Democratic-led measure, which would have stopped the Trump administration from employing prior authorization in original Medicare, where the practice is rarely allowed. The vote was 46 to 50.

The White House had pushed back against the Democratic bill. Medicare officials gave a handout to lawmakers’ offices on Tuesday outlining what they say are the benefits of the test, known as WISeR. 

Continue to STAT+ to read the full story…

This post was originally published here. 

U.S. foreclosure activity rose again in the first half of 2026, with 227,548 properties receiving filings, up 21% from the same period in 2025, according to ATTOM’s midyear foreclosure report released Thursday.

The report — which tracks default notices, scheduled auctions and bank repossessions — shows total foreclosure filings are also 28% higher than in the first half of 2024. ATTOM CEO Rob Barber said in the company announcement that the market is “gradually returning to more typical patterns,” even as the data points to growing financial stress for some homeowners.

“The increase is being driven by a mix of financial pressure and continued normalization after several years of unusually low foreclosure activity. Higher taxes, insurance, and everyday household costs are making it harder for some borrowers to recover once they fall behind, even when the mortgage payment itself has not changed,” said Mirza Hodzic, founder and managing director of BlackWolf Advisory Group.

“The 18 percent rise in foreclosure starts tells us more loans are entering the pipeline, while the 33 percent increase in REO shows more are also reaching the end of the process. That combination will keep pressure on servicers through the second half, especially in loss mitigation, attorney oversight, property preservation, and REO management,” Hodzic added.

Higher volumes, faster timelines

In the first six months of 2026, foreclosure filings were recorded on 0.16% of U.S. housing units, or one in every 632 homes.

Foreclosure starts remain the main driver of the increase. Lenders initiated the process on 164,566 properties from January through June, up 18% from the same period in 2025 and 66% higher than the first half of 2020.

Completed foreclosures, or real estate-owned (REO) properties, are also on the rise. Lenders repossessed 27,983 properties in the first half of 2026, a 33% increase from a year earlier, although still 26% below levels seen in the first half of 2020.

At the same time, foreclosure timelines are shrinking. Properties foreclosed in the second quarter of 2026 spent an average of 563 days in the process, ATTOM reported. That was shortest timeline since 2013 — down 2% from Q1 2026 and 13% lower than Q2 2025.

Timelines remain highly uneven by state. Louisiana recorded the longest average at 3,491 days for homes foreclosed in Q2, followed by Hawaii (2,293 days), New York (2,007 days), Connecticut (1,626 days) and Nevada (1,507 days). The quickest states were Texas (155 days), New Hampshire (157 days), Wyoming (173 days), West Virginia (196 days) and Alaska (199 days).

Which states and metros have the most risk?

Risk is concentrated in a handful of states and metros, with Florida and the Southeast featuring prominently.

Nationwide for the first half of 2026, states with the highest foreclosure rates were:

  • Florida: 0.27% of housing units with a filing (one in every 373 homes), 27,494 properties affected
  • South Carolina: 0.26% (one in every 381 homes), 6,419 properties
  • Indiana: 0.25% (one in every 402 homes), 7,408 properties
  • Delaware: 0.25% (one in every 404 homes), 1,148 properties
  • Illinois: 0.23% (one in every 435 homes), 12,533 properties

Other states in the top 10 foreclosure rates included Nevada and New Jersey (both at 0.22%), Ohio (0.20%), and Maryland and Utah (both at 0.19%).

By volume, the most foreclosure starts in the first half of 2026 were in:

  • Texas: 20,739 starts
  • Florida: 20,358
  • California: 16,040
  • Georgia: 8,164
  • Illinois: 7,424

For REO activity, Texas again led with 3,322 completed foreclosures, followed by California (2,644), Florida (2,070), Pennsylvania (1,893) and Illinois (1,543).

Among 227 metropolitan areas with at least 200,000 people, the worst foreclosure rates in the first half of 2026 were posted in:

  • Punta Gorda, Florida: 0.50% of housing units with foreclosure filings
  • Lakeland, Florida: 0.48%
  • Columbia, South Carolina: 0.43%
  • Macon, Georgia: 0.36%
  • Fayetteville, North Carolina: 0.36%

Other large metros in the top 10 included Cape Coral, Florida (0.35%); Cleveland (0.33%); Jacksonville, Florida (0.31%); Ocala, Florida (0.31%); and Jacksonville, North Carolina (0.31%).

“The geographic concentration is important,” Hodzic said. “Florida, South Carolina, Indiana, and several Southern markets continue to show higher foreclosure rates, so servicers should not treat this as a uniform national trend. Capacity, vendor coverage, and borrower outreach need to reflect where the pressure is actually building.”

Government lending channel is risk driver

The ATTOM data confirms that foreclosure activity is rising off historically low, post-pandemic levels and is spreading across both judicial and nonjudicial states. For mortgage servicers and investors, the combination of more starts and shorter timelines means pipelines could move more quickly from delinquency to REO, requiring tighter loss-mitigation and disposition strategies.

Donna Schmidt, president and CEO of DLS Servicing, said that government-backed mortgages through the Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) are the two main drivers of foreclosure activity.

In the VA loan space, Schmidt said the decision to discontinue the “very costly” Veterans Affairs Servicing Purchase (VASP) program has led to more foreclosures, since there was no payment reduction option for these borrowers while VA was developing a new loss-mitigation waterfall.

“Even under the new waterfall, released in June of 2026, but mandatory for servicer participation by November 28, 2026, there are no expressed payment lowering options,” Schmidt said.

“Practically the only time a veteran borrower may receive a lower modified payment is if the note rate is higher than the modified market rate. Under current market conditions that will be a very rare event. Absent a lower payment option for veteran borrowers, their only option is a short sale or foreclosure.”

In the FHA loan space, Schmidt remarked that the “pendulum has swung in the other direction” after years of lenient loss-mitigation policies related to the pandemic. Failure rates for required trial payment plans of three months prior to reinstatement in loss mitigation have been as high as 40% to 60%.

“Additionally, FHA also has limited the borrower to only one permanent loss-mitigation option within 24 months,” she said. “This too is pushing more loans into foreclosure. Finally, FHA originations saw debt-to-income ratios rise to 50% or more for 29% of the loans originated since 2022. All of these factors have led to higher defaults and more foreclosures.

“Other than the inherent deficiencies with the VA loss-mitigation program, the increased foreclosures in the FHA space is a correction to more normal activity. Foreclosures throughout the COVID era were artificially suppressed.  There will be inflated activity over the next one to two years while that correction occurs.”

Lenders and originators operating in high-risk states like Florida, South Carolina, Indiana and parts of the Mountain West may want to sharpen pre-foreclosure outreach and counseling, as rising distress can pressure local home values and increase repurchase and reputational risk.

Real estate agents and investors in certain metros could see more distressed inventory, but likely in a market that is still far from the foreclosure volumes seen during the last housing crisis.

This article was written by Neil Pierson with the assistance of HousingWire Automation, then reviewed by a HousingWire editor before publication.

This post was originally published on here. 

NEW YORK — Investor Michael Burry, best known for predicting the collapse of the U.S. housing market before the 2008 financial crisis, said Wednesday that the $60.50-per-share takeover proposal for PayPal Holdings Inc. significantly undervalues the company and predicted any successful acquisition will require a substantially higher offer.

Burry’s comments came hours after reports that Stripe and private equity firm Advent International had submitted a proposal valuing PayPal at more than $53 billion, a deal that immediately became one of Wall Street’s biggest stories and sent PayPal shares sharply higher.

“I am not selling, and I believe it is only an opening bid,” Burry wrote on his Substack.

The market appeared to agree that the first offer may not be the last. PayPal shares jumped as much as 19%, trading near $57, as investors weighed the possibility of a higher competing bid or improved terms.

Burry Says Intrinsic Value Is Much Higher

Burry argues investors are focusing on the wrong benchmark.

While the proposed offer represents roughly a 28% premium to PayPal’s previous closing price, Burry says that comparison ignores what he believes is the company’s long-term intrinsic value.

Using his proprietary discounted cash flow methodology, Burry estimates PayPal’s fair value is substantially above the current bid, placing a reasonable acquisition value near $100 per share.

His analysis suggests buyers would still receive attractive long-term returns even after paying significantly more than the current proposal.

For Burry, control of PayPal’s payments platform, technology and cash flow deserves a premium well beyond today’s offer.

A Newly Built Position

The timing also matters.

Burry only recently disclosed building a 3.5% ownership stake in PayPal, purchasing shares at an average price of approximately $49.38.

The investment fits a broader strategy that has favored beaten-down financial technology and software companies while reducing exposure to some of Wall Street’s highest-valued artificial intelligence stocks.

His recent purchases have included companies such as Salesforce, Fiserv, Adobe, MercadoLibre, and MSCI, reflecting a belief that many established technology businesses have become undervalued.

Analysts Divided

Wall Street remains split on PayPal’s future.

Some analysts believe the current proposal undervalues the company, arguing that PayPal’s global payments network, strong cash generation and recognizable consumer brand justify a significantly higher valuation.

Others question whether any buyer would ultimately be willing to pay prices approaching Burry’s estimate given PayPal’s slowing growth and increasingly competitive payments landscape.

The company continues facing pressure from Apple Pay, Block, Stripe, and numerous emerging fintech providers competing for both consumers and merchants.

Board Faces Difficult Decision

PayPal’s board has not responded publicly to the reported proposal.

Directors will likely review the offer with financial and legal advisers before determining whether to negotiate, reject the bid or seek alternative proposals.

Their decision could become one of the most closely watched corporate governance stories of the year.

Accepting the current offer would provide shareholders with an immediate premium.

Rejecting it could preserve the opportunity for a higher bid—but also risks losing the transaction entirely.

What Investors Are Watching

For now, investors appear to be betting that negotiations have only begun.

The stock’s move toward the reported offer price suggests markets expect either an improved proposal or a competitive bidding process.

Whether Burry’s $100-per-share estimate ultimately proves realistic remains uncertain.

What is clear is that one of Wall Street’s most closely followed value investors believes the first offer dramatically understates what he considers one of fintech’s most valuable franchises.

JBizNews Desk | New York

© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

Women’s Council of Realtors has named Tripti Kasal as its new CEO, selecting a residential real estate executive to guide the 9,000-member organization.

Kasal will lead Women’s Council’s efforts to prepare and support more women for senior leadership roles in brokerages, associations and MLSs, technology companies, advocacy initiatives, entrepreneurship and community development.

Women have represented the majority of Realtors since 1978 and today account for 62% of the profession. Yet women remain underrepresented in executive roles, the council cited.

“Real estate needs well-prepared leaders who can build consensus, make difficult decisions, advocate effectively and guide organizations through profound change,” said Cheryl Keller, 2026 national president of Women’s Council of Realtors. “Women’s Council has been preparing women to meet that challenge for generations, and Tripti is uniquely qualified to help us expand that impact.”

Kasal brings more than 25 years of residential real estate experience spanning brokerage operations, market expansion, recruiting, coaching, marketing, business development and member engagement.

“I am passionate about the future of residential real estate and the role well-trained, well-supported leaders must play in shaping it,” she said. “Our industry needs leaders who are prepared to listen, build trust, advocate effectively and help others navigate change with confidence.”

Early in her career, Kasal helped launch and grow the Chicago operation of an internet-based residential brokerage, expanding its sales team from five to more than 40 agents in less than a year.

She later owned a boutique brokerage in Chicago’s Lincoln Park neighborhood.

Kasal spent 10 years in senior leadership with Baird & Warner, most recently serving as senior vice president and regional manager for the Chicago metropolitan area.

Most recently, she served as senior vice president of member engagement for Leading Real Estate Companies of the World, where she led the U.S. membership services team and helped independent brokerages connect with education, technology, marketing, relocation and business development resources.

As CEO, Kasal will focus on expanding membership and engagement, strengthening local and state networks, broadening leadership education, increasing participation in PMN, deepening partnerships with brokerages and organized real estate, and growing the business value of Women’s Council’s nationwide referral network.

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication.

This post was originally published on here. 

NEW YORK — Apple Inc. cleared one of its biggest hurdles in China on Wednesday after the Cyberspace Administration of China (CAC) approved Apple Intelligence for use on iPhones in mainland China, allowing the company to bring its artificial intelligence platform to the world’s largest smartphone market through a partnership with Alibaba Group Holding Ltd.

The decision removes a major obstacle that has delayed Apple’s AI rollout in China for nearly two years and gives the iPhone maker an opportunity to compete more directly with domestic rivals that have already integrated generative artificial intelligence into their smartphones.

Investors immediately recognized the significance of the announcement. Apple shares climbed about 4% to a record high, while U.S.-listed shares of Alibaba rose as much as 7% after the company confirmed its technology would power Apple’s AI services in China.

The approval represents far more than a software update. It marks one of the most important technology partnerships between an American consumer electronics company and a Chinese artificial intelligence developer.

Alibaba Powers Apple’s AI in China

At the center of the agreement is Alibaba’s Qwen large language model.

Alibaba confirmed that Qwen will serve as the foundation for Apple Intelligence in mainland China, providing artificial intelligence capabilities directly within Apple’s operating system. Instead of downloading a separate chatbot application, users will access AI-powered writing tools, image understanding, translation, content generation and other features through Apple’s native software.

Baidu is also participating as a technical partner supporting portions of Apple’s China AI deployment.

The CAC approval places Apple alongside Huawei, OPPO, vivo, Xiaomi, Samsung, and Nubia, all of which have received authorization to offer generative AI services on smartphones sold in China.

A Major Win in Apple’s Second-Largest Market

China remains one of Apple’s most strategically important markets.

The company recently reported Greater China revenue of $20.5 billion for the quarter, representing 28% year-over-year growth, while iPhone shipments increased 24.4% as Apple regained the No. 2 position in China’s smartphone market.

Until now, however, Chinese customers purchasing Apple’s newest devices could not access many of the artificial intelligence features already available elsewhere because of local regulatory restrictions.

That left Apple competing against domestic manufacturers whose AI capabilities had become major selling points.

Wednesday’s approval effectively closes that gap.

Approval Comes Before Launch

Regulatory approval does not mean Apple Intelligence will immediately become available across China.

Apple must still complete software deployment, localized engineering work and operating system updates before the service launches broadly.

Reports indicated that a limited beta version briefly appeared before being withdrawn, suggesting Apple continues preparing for a larger public rollout.

Compatible devices will require updated software and newer-generation iPhone hardware capable of running Apple Intelligence.

Why the Partnership Matters

For Alibaba, the agreement represents one of the strongest endorsements yet of its artificial intelligence platform.

Having Qwen selected to power Apple’s AI experience gives Alibaba access to one of the world’s largest consumer technology ecosystems while reinforcing its position among China’s leading AI developers.

For Apple, partnering with a domestic technology leader provides a practical solution for complying with China’s regulatory requirements governing artificial intelligence, cloud services and data localization.

The partnership also demonstrates how global technology companies continue adapting to increasingly complex regulatory environments by working with local providers rather than attempting to operate independently.

The Bigger Picture

Artificial intelligence has become the newest battleground in the global smartphone industry.

Consumers increasingly expect AI-powered features to be integrated directly into their devices, making regulatory approval in China particularly important for Apple as it seeks to defend market share against rapidly advancing domestic competitors.

For investors, Wednesday’s announcement removes one of the largest remaining uncertainties surrounding Apple’s AI strategy in China.

It also gives Alibaba a prominent role inside one of the world’s most valuable consumer technology ecosystems—an alliance that could reshape the competitive landscape of artificial intelligence in the world’s largest smartphone market.

JBizNews Desk | New York

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Reward points were built to buy business class seats to Bali and long weekends in London hotels. USAA Federal Savings Bank reported this week that 36 percent of consumers holding credit card rewards are now cashing them in immediately to offset everyday expenses — groceries, gas and bills — rather than saving them for travel or big-ticket purchases.

“Consumers are changing the way they think about credit card rewards,” said Michael Moran, President of USAA Bank, announcing a new suite of rewards cards from Visa and American Express built around the shift. Moran said that what was once viewed as a benefit for travel or larger purchases has increasingly become a tool to manage everyday costs, and that as household budgets stay under pressure, people are looking for immediate ways to stretch their dollars.

The survey behind the finding was conducted by 160over90 Research, an online study of 1,143 U.S. adults ages 18–54 fielded March 26–30, 2026, with quotas set on age, gender and region.

The behavior underneath the number

The details are more telling than the headline figure.

Nearly half — 47 percent — reported using “Pay With Points” for essential items, compared with just 26 percent who used it for discretionary purposes. 42 percent said they redeem points monthly to lower statement balances. 30 percent cash out as soon as they hit the minimum redemption threshold.

Younger cardholders are the most aggressive. Among respondents aged 18–24, 72 percent redeem points monthly or as quickly as possible. Among those 25–34, 51 percent redeem monthly.

USAA Bank’s own transaction data mirrors it. Reward redemption volumes among its cardholders rose 47 percent year-over-year in 2025, driven by Shop With Rewards, which lets members knock down a gas, grocery or retail expense using points. That analysis drew on aggregated, anonymized data from more than four million USAA Bank credit card holders, as of December 31, 2025.

Points, in other words, have stopped being a savings account and started being a checking account.

What’s driving it

The pressure is coming from the grocery aisle. Research from the Urban Institute, released this week, found that roughly 63 percent of working-age adults have used a credit card to buy food. Of those, 19.6 percent did not pay the full balance but made minimum payments, and 8.7 percent could not make even the minimum — up from 7.1 percent in 2023.

“This means that over 1 in 4 working-age adults used credit cards to purchase food for their families and experienced repayment challenges,” the report stated.

Kassandra Martinchek, a co-author of the study, said there are millions “struggling to make that minimum payment when they’re putting groceries on their credit card.”

The Urban Institute found grocery prices have risen 32 percent over five years. Middle-income families — those earning between 200 and 400 percent of the federal poverty level — were hit hardest, with missed minimum credit card payments on food climbing from 9.3 percent in 2023 to 12.3 percent in 2025. Roughly 8.9 percent of adults used buy now, pay later plans to secure food, and more than a third of those users — 34.8 percent — missed an installment payment. About 20 percent said they were dipping into savings to buy groceries.

Who actually pays for the points

There is a second business story buried in the redemption data. A Harvard study estimates that consumers paying with cash and debit are subsidizing roughly $30 billion a year in points and rewards for credit card users.

Premium cards — the ones with the richest rewards — accounted for 60 percent of credit card volume in 2022, up from just 15 percent in 2006, according to the same study. The average swipe fee on a premium card runs 2.1 percent, against 1.7 percent for a basic credit card and under 1 percent for debit.

Merchants feel it directly. Managers at Tiger Fuel, which operates 10 gas stations and convenience stores in Virginia, expect to pay more in credit card fees this year than they will in rent.

The Electronic Payments Coalition counters that the number of lower- and middle-income consumers holding rewards cards has been rising, and that millions of low- and moderate-income families rely on cash back and rewards to offset the cost of groceries and gas. The group argues lower swipe fees would not necessarily reach shoppers, pointing to prices after the 2011 debit fee cap.

The timing

The USAA data landed the same week the inflation numbers finally broke the other way. The Bureau of Labor Statistics reported Wednesday that producer prices fell 0.3 percent in June, a day after consumer prices fell 0.4 percent and annual inflation cooled to 3.5 percent.

But that relief came from a ceasefire and cheaper oil, not from the grocery store. Food prices don’t unwind. The household that redeemed 5,000 points for a tank of gas in June will do it again in July.

JBizNews Desk | New York © JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

Carrington Mortgage Services announced Wednesday a key step in expanding its artificial intelligence strategy, selecting Kastle as its enterprise AI agent partner to automate servicing workflows and enhance borrower support.

The partnership will bring Kastle’s AI agents into Carrington’s contact center and borrower-facing servicing operations, where the technology will handle high-volume interactions and provide quality control coverage across customer conversations.

Carrington said the partnership is part of a broader effort to modernize its technology infrastructure across government and conventional loan servicing portfolios.

The company is implementing two layers of Kastle’s AI platform: autonomous customer service and collections agents designed to resolve borrower interactions without human intervention; and agent-assist tools intended to support contact center employees by reducing handle times and improving performance.

“Kastle stood out because they are specialized in the mortgage servicing space, and have received strong positive feedback from clients already using their solution,” Elizabeth Balce, executive vice president of loan servicing at Carrington Mortgage Services, said in a statement. “We needed a partner with both proven performance and deep domain expertise at scale.”

Balce said Carrington views artificial intelligence as a key component of its servicing strategy, helping reduce manual processes while allowing employees to better support borrowers.

The partnership comes as mortgage servicers increasingly explore artificial intelligence tools to improve operational efficiency, customer engagement and compliance oversight.

“Carrington is setting the standard for what AI-native mortgage servicing should look like at scale,” Rishi Choudhary, co-founder and CEO of Kastle, said in a statement. “We’re proud to support an operating model that combines Carrington’s expertise in consumer loan servicing with enterprise-grade AI infrastructure built for the regulatory and operational realities of U.S. mortgage servicing.”

Carrington said the deployment will support its ongoing efforts to create a more automated and technology-driven servicing model.

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication.

This post was originally published on here. 

Coldwell Banker Real Estate released its Global Luxury 2026 Mid-Year Report, finding that prospective buyer interest in U.S. luxury real estate doubled during the first five months of the year.

Data also identifies a growing trend of affluent buyers purchasing larger properties and neighboring homes to maximize privacy, preserve views and accommodate multigenerational living.

The report draws on luxury home sales data, research from global wealth and real estate firm and a survey of Coldwell Banker Global Luxury Property Specialists. It found that affluent buyers are expanding their real estate portfolios, making more all-cash purchases and seeking distinctive properties with long-term investment value.

The report also noted that the U.S. is attracting increased interest from international luxury buyers, particularly in markets such as California and New York.

“Today’s luxury home shopper is discerning, focused on both their emotional wants and their long-term wealth building,” said Mary Lee Blaylock, president of Coldwell Banker Affiliates. “Both domestic and international buyers are eyeing U.S. properties as they focus on the geographic diversification of their real estate holdings. These buyers are focused on purchasing unique properties that help them build a legacy through their expansive footprints and locations that carry long-term value.”

Demand grows for larger properties

The report found that affluent buyers increasingly prioritize larger properties and land, with many purchasing adjacent parcels to increase privacy, preserve views or create multigenerational living opportunities.

Searches for unique properties — including estates, châteaux, castles, historic homes, branded residences and private islands — increased 146% year over year, while searches for land rose 97%.

Nearly 40% of surveyed Luxury Property Specialists said buyers are willing to compromise on a property’s condition in exchange for a desirable location. Luxury single-family home sales increased 2.8% year over year, while sales of attached properties declined 3.8%.

“A luxury home can be built almost anywhere, but land is finite,” Blaylock said. “Features like waterfront acreage, historic estates, or expansive ranches are in high demand, but they require space to maintain and build. Affluent buyers are purchasing properties with that in mind.”

International demand, wealth strategy

According to the report, searches for U.S. luxury real estate by global buyers increased 100% during the first five months of 2026.

California generated the highest share of international buyer inquiries, followed by New York and Florida, while New York posted the strongest growth in international interest.

Researchers found that affluent buyers continue to increase their investments in luxury real estate.

The top 10% of the single-family housing market across 120 U.S. markets generated a $3.7 billion year-over-year increase in sales volume, with nearly 60% of that growth coming from the top 1% to 5% of the luxury market.

More than 82% of luxury property specialists say their clients are maintaining or increasing their real estate holdings, while 78% expressed confidence in the luxury housing market. Nearly half said clients are more likely to view luxury real estate as a safe-haven investment than they were a year ago.

Liquidity divide, inventory outlook

The report found that ultra-high-net-worth buyers continue to drive luxury sales while buyers just below that segment remain more cautious.

Nearly two-thirds of luxury property specialists reported an increase in all-cash purchases, up from 51% a year earlier. More than one-quarter identified a widening wealth divide as an active trend in their markets.

In May 2026, the top 5% of luxury transactions accounted for 65.6% of total single-family luxury sales volume. Median sale prices increased 8% for the top 5% of homes and 6.5% for the top 1%, compared with a 4.7% increase for the top 10%.

While luxury inventory declined year-over-year, the report found that many affluent homeowners are waiting for greater economic certainty before listing their properties.

Nearly 60% of luxury property specialists expect inventory to increase during the second half of 2026 as seller confidence improves.

The report also cited National Association of Realtors data indicating the market may be approaching a turning point as the number of homeowners with mortgage rates above 6% moves closer to the number holding mortgages near 3%.

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication.

This post was originally published on here. 

I spent more than a decade as a real estate broker, and the biggest shift I watched wasn’t just what happened to prices. It was what happened to the conversations.

Early in my career, couples sitting across from me led with the dream: the neighborhood vibe, the commute they could live with, whether there was enough backyard for the dog they were probably going to get. Financial reality was always somewhere in the room, but it wasn’t the biggest focus. They’d already made the emotional decision. We were just figuring out the logistics together.

Somewhere in the last few years that dynamic flipped, and I don’t think it’s flipping back. The financial audit now happens before the dream does. Debt situations, income stability, who carries the mortgage if one job disappears. I watched it happen transaction by transaction and kept finding reasons to explain it away. Eventually I ran out of explanations. The math had gotten into the relationship itself, not just the deal.

I remember realizing this wasn’t an isolated pattern anymore. I was sitting across from people trying to figure out whether major life decisions were financially possible at all. The conversation wasn’t just “Which neighborhood do we want?” It was “Can we afford to get married first?” or “Should we combine income beforehand?” Housing wasn’t just shaping where people lived anymore. It was shaping the timeline of their lives.

The industry publishes rate commentary and inventory breakdowns. What it doesn’t publish is what I kept seeing in those rooms, something personal and a little uncomfortable, playing out quietly inside every transaction.

The math got into the relationship

By the end of my brokerage career, I could almost predict how the conversation would go. What started as a discussion about a relationship often turned into a discussion about debt, income, job security and housing costs. More than once, I found myself feeling less like a real estate broker and more like someone sitting in on a merger negotiation. Not that these people were unromantic, but because the financial stakes of getting it wrong were genuinely high in a way they weren’t for previous generations. Moving in together stopped being purely about wanting to wake up next to someone. For a lot of people it became a financial decision first and a romantic one second, and everyone involved understood that without saying it.

Couples are waiting longer to get married. The average age keeps going up, now sitting around 28 for women and 30 for men, about two years older than in 2015. The comfortable explanation is that people want to establish themselves first, travel, figure out who they are. That’s part of it. But higher housing costs consistently show up in the research as a direct driver of delayed marriage and lower birth rates. Not a correlation someone found in one study. A documented pattern across multiple decades of data. The financial pressure isn’t running parallel to the relationship pressure. It is the relationship pressure, dressed up in other language.

What couples used to figure out together after falling in love, a lot of them are now factoring in before letting themselves fall at all.

The return of practical partnership

For a while we had the luxury of pretending economic considerations had left the building when it came to choosing a partner. That was never entirely true but it was true enough, in enough places, for long enough, that it started to feel like permanent social progress.

Housing costs have been taking that apart piece by piece.

I saw it most clearly with single buyers. Some were successful professionals earning incomes that would have comfortably supported ownership earlier in my career. But the conversations kept circling back to the same reality: the path looked dramatically different alone than it did with a partner. Nobody said they were choosing relationships for financial reasons. They didn’t have to. The incentives were already sitting on the table.

Single buyers face nearly $18,000 more annually in housing costs than couples splitting the same bills in markets like Washington D.C. That’s not a minor inconvenience someone adjusts their budget around. That’s a structural incentive baked into partnership, operating on every person trying to figure out whether a relationship is worth committing to in an expensive city. The pull toward couplehood isn’t only emotional anymore. It’s financial, and in a lot of places the financial weight of it is heavier than the emotional one.

In 2024 first-time buyers represented just 21 percent of all purchases, the smallest share since 1981. The average age of someone buying their first home hit 40 that year. That’s not a delayed milestone in the way people usually mean it. That’s a compressed life sequence, years of relationship decisions and family planning and geographic commitment that got pushed into a smaller window because the financial circumstances kept refusing to cooperate. The people most affected aren’t sitting around blaming the housing market for their relationship problems. They’re just quietly making different decisions than they’d make if the math looked different, and calling it something else.

The industry is still pretending housing is just about housing

Pull up any major real estate market analysis right now and it’ll give you cap rates, months of supply, median days on market, interest rate projections. Useful information. Also a remarkably consistent way to avoid discussing what all those numbers are actually doing to people’s lives.

The transaction cost alone is punishing in ways the industry has never been eager to put front and center. On a median-priced home today, closing costs and fees can mean $25,000 to $40,000 in cash required at the table, on top of everything else, showing up late in the process after someone has already spent months falling in love with a house they now might not be able to close on. The buyers who clear that hurdle without breaking a sweat are almost always the ones with a financial backstop. Everybody else either figures it out under pressure or walks away.

I came up through the brokerage world. I know how much of that cost structure reflects real work and how much of it is just legacy pricing nobody had much incentive to challenge. The friction is real in some places. In a lot of others it accumulated over time and stayed because it was profitable to leave it alone.

The platforms worth paying attention to are the ones willing to actually reduce what it costs someone to get through the front door the first time. Not a cleaner interface or a faster app. A genuine reduction in the financial weight of the transaction for the people carrying it heaviest. That’s the disruption that matters.

What it actually cost

Housing used to be the backdrop of adult life. The place where the actual living happened.

Increasingly it’s the thing adult life has to negotiate with first, before it gets to be about anything else. The timeline for marriage, kids, which city to commit to, which relationships feel worth the risk. The housing market got expensive and then it got structural and now it’s inside decisions people think of as entirely personal.

The American dream is still there. It just requires two incomes, years of runway, and a relationship strong enough to survive the financial pressure before it earns the right to become something more. That’s an enormous amount to ask before the real life even starts.

The industry could say that honestly. It mostly hasn’t.

Blake O’Shaughnessy is a real estate broker turned co-founder of Ownli.

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

This post was originally published on here. 

New York City tenants have spoken. Mayor Zohran Mamdani on Thursday released a new report shaped by testimony from thousands of renters who shared their experiences during the “Rental Rip-Off” hearings held across the five boroughs. The 68-page report outlines 23 policy changes aimed at strengthening tenant protections, improving housing quality, and targeting negligent landlords while curbing hazardous conditions and deceptive practices.

“At Rental Ripoff Hearings across the five boroughs, we heard from thousands of New Yorkers living with mold that was never treated, pests that were never addressed and fees that were never explained,” Mamdani said. “Listening was only the first step. This report turns those stories into concrete action.”

“From requiring disclosure of AI-altered listings to bringing our code enforcement systems into the 21st century and finally recognizing tenant unions, we are making it clear that every New Yorker deserves a safe home—and every landlord who refuses to provide one will be held accountable,” he added.

Mamdani established the hearings during his first week in office through the signing of Executive Order 8. Between February and April, the administration held one hearing in each borough and collected online testimony from more than 2,400 New Yorkers.

Within 90 days of the final hearing, held on April 7, the city’s Departments of Housing Preservation and Development, Buildings, and Consumer and Worker Protection, along with the Office to Protect Tenants and Mass Engagement, were ordered to submit a joint summary and report to the mayor with common themes and issues addressed during the hearings.

The chart lists the most common topics mentioned in rental ripoff hearing testimonies. Credit: NYC Mayor’s Office

The report identifies the most prevalent concerns raised by tenants. Sixteen percent of the testimony cited pests, while 13 percent mentioned mold, and another 13 percent cited leaks. Another 13 percent referenced kitchen issues, while 11 percent spoke about problems with bathrooms and flooring.

Tenants also described a general feeling of powerlessness amid an “uneven power dynamic” between themselves and their landlords. This imbalance can make it difficult for tenants to negotiate rent increases and address harassment from property owners and maintenance staff, another key theme raised during the hearings.

Public testimony repeatedly described landlords ignoring maintenance requests, while management companies and building superintendents were often difficult to reach or unresponsive.

Even when issues were addressed, tenants said repairs were frequently inadequate, leaving problems unresolved. When tenants called 311 to file complaints or organized with neighbors, some reported facing intimidation from property owners.

Immigrant residents described heightened fears of retaliation, with some citing cases of landlords threatening to contact federal immigration authorities after tenants filed complaints.

Another concern raised during the hearings was the ability of landlords to certify that repairs have been completed without proving to the city that violations have actually been remedied. Tenants advocated for easier ways to report false certifications and ensure conditions are fully addressed before violations are cleared.

Tenants also reported chronic heat and hot water problems, forcing some to rely on hazardous devices like space heaters to stay warm and driving up their energy bills. Seven percent of testimony cited broken elevators, which severely restricted mobility for elderly residents, parents with small children, and people with mobility disabilities.

Other issues cited by tenants included lengthy and confusing housing court processes, a lack of clarity around tenant rights and how to form tenant associations, insufficient urgency from the city in addressing housing issues, and a range of deceptive fees and unexpected utility bills.

The Mamdani administration said that it will use every tool at its disposal to address these concerns, including executive action, agency rulemaking, legislation, and litigation.

Examples of actions include investigating every heat complaint individually rather than grouping complaints from the same building, allowing tenants to schedule certain building inspections, improving response times to elevator outage complaints, streamlining public information about tenant rights, and strengthening protections against harassment based on immigration status.

The Mayor’s Office to Protect Tenants will also establish a legislative task force to recommend reforms to the city’s housing quality enforcement system.

Potential reforms under consideration include adding financial penalties for landlords who fail to address mold, strengthening the city’s Alternative Enforcement Program to better tackle chronic building violations, modernizing the property registration process, and allowing HPD to serve building owners with violations through digital notices.

While tenant advocates celebrated the hearings and the release of the report, some landlord representatives criticized the process, calling the hearings a “rigged political show” that unfairly targeted small property owners while ignoring the effects of the mayor’s two-year rent freeze, approved last month, on rent-stabilized buildings.

“The Rental Ripoff Hearings was a rigged political show designed to attack small owners while ignoring the damage being done to rent-stabilized buildings,” Ann Korchak, board president of Small Property Owners of New York, said.

“The message is clear: the administration does not see small owners as partners. It wants to weaken us, drive us into financial distress, and force private rent-stabilized housing into government-controlled, socialized housing,” she added.

Over the next three years, the Mayor’s Office to Protect Tenants (MOPT) will launch and implement many of the initiatives outlined in the report. Some efforts, including changes to how heat complaints are investigated, will begin soon, while others will enter planning phases this year before launching in 2027 or as pilot programs.

Additionally, some changes will require partnerships with the City Council, including updates to the city’s Housing Maintenance Code. The process will begin with the launch of the MOPT Legislative Task Force this fall, which will consist of Council Members, tenant advocates, and other stakeholders.

RELATED:

The post Mamdani’s ‘rental rip-off’ report outlines 23 actions to address tenant concerns first appeared on 6sqft.

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FLORHAM PARK, N.J. — The New York Jets and Xerox Holdings Corp. announced a multi-year partnership Wednesday that will integrate artificial intelligence, workflow automation and digital document technologies throughout the NFL franchise’s football and business operations.

The agreement makes Xerox the Jets’ Official Print and Digital Services Partner while expanding the company’s growing focus on AI-powered workplace technology beyond traditional office printing.

For Xerox, the partnership is another step in repositioning the 119-year-old company as a provider of intelligent workplace solutions. For the Jets, it represents an investment in technology designed to improve operational efficiency both on and off the field.

Technology Beyond the Front Office

The partnership extends well beyond traditional printing services.

Xerox will deploy intelligent workflow automation, digital content management and AI-enabled document technologies across multiple areas of the organization, supporting football operations, administrative functions and business departments.

The companies said the goal is to streamline everyday processes, improve collaboration and reduce manual administrative work, allowing employees to focus more on decision-making and fan engagement.

While the financial terms of the agreement were not disclosed, the partnership also includes Xerox joining the Jets Partner Alliance, the team’s corporate sponsorship platform.

AI Moves Into Professional Sports

Professional sports organizations are increasingly investing in artificial intelligence and digital automation.

Teams are using AI to improve business operations, analyze fan behavior, optimize ticket sales, streamline internal communications and enhance operational efficiency across their organizations.

Although football analytics have become commonplace over the past decade, many clubs are now expanding AI beyond coaching staffs into finance, marketing, human resources and customer service.

The Jets’ agreement reflects that broader trend.

Xerox Continues Business Transformation

For Xerox, partnerships such as this demonstrate how the company is evolving beyond its legacy copier business.

The company has spent recent years expanding its portfolio of digital workplace services, automation software, cybersecurity and AI-driven workflow solutions as businesses increasingly digitize paper-intensive processes.

Sports organizations provide high-profile opportunities to demonstrate those capabilities while showcasing technology that can also be adopted by corporate customers.

Business Lessons Beyond Football

The announcement highlights how artificial intelligence is becoming an enterprise productivity tool rather than simply a consumer technology.

Organizations across industries are investing in AI to automate repetitive work, accelerate document processing and improve operational efficiency.

Whether managing football operations or running a corporate headquarters, the underlying objective remains the same: allowing employees to spend less time on administrative tasks and more time making strategic decisions.

As businesses continue expanding AI adoption, partnerships like the one between the New York Jets and Xerox illustrate how digital transformation is increasingly reaching every corner of an organization—not just the technology department.

JBizNews Desk | Florham Park, New Jersey

© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

The Government of Dubai Media Office (GDMO) on Thursday denied a Reuters report citing witnesses who said blasts were heard in downtown Dubai.

The GDMO called the Reuters report regarding explosions in Downtown Dubai “false,” further urging the public and media to “rely only on official sources for accurate information and to avoid spreading rumors or unverified information.”

Additionally, the Islamic Revolutionary Guard Corps posted a claim on their social media that explosions shook the UAE capital of Abu Dhabi. The claims were also published by official Iranian state broadcasters, including Islamic Republic of Iran Broadcasting (IRIB).

Meanwhile, the IRGC-run Fars News Agency reported that US missiles hit locations near Bandar Abbas, near the Strait of Hormuz.

No Iranians were injured or damage reported in the strikes on Bandar Abbas, semi-official Iranian outlet Mehr News Agency cited Hormozgan Governorate, where Bandar Abbas is located, as saying.

Mehr also reported that US projectiles hit near Qeshm Island on Thursday.

On Thursday morning, the Iranians claimed to have launched “Arash” suicide drones towards US Army Super Hawk radars, facilities, and Patriot missile defense systems at Sheikh Isa Air Base in Bahrain.

Also on Thursday, IRIB cited an Iranian military spokesperson, who threatened Middle East countries that host US military bases.

“Security imported from the US will not last for countries in the region,” the spokesperson said.

The UAE hosts US military bases, including Al Dhafra Air Base, which is located approximately 32 km. (20 miles) south of Abu Dhabi.

During the early hours of Thursday morning, IRIB claimed that Iranian air defense systems shot down a US Air Force MQ-9A Reaper drone over Khuzestan Province. The US military has not corroborated this claim.

Meanwhile, US Central Command (CENTCOM) shared a video on its official X/Twitter account showing a US Air Force F-35A stealth fighter being refueled mid-air by a KC-135 Stratotanker while flying patrols over the Middle East.

CENTCOM did not clarify whether this jet was conducting operations against Iran.

This is a developing story.

This post was originally published on here. 

US President Donald Trump’s Monday announcement that the US would charge a fee for commercial vessels to transit through the Strait of Hormuz triggered a flurry of activity among Gulf State leadership and White House aides attempting to dissuade him from implementing the plan, according to a CNN report on Tuesday.

Several sources familiar with the matter told CNN that the US’s Gulf allies and many Trump aides were shocked when Trump, in a post on Truth Social, described the 20% fee on cargo as “necessary to do the job of providing safety and security” in the waterway.

Trump advisors warned that Hormuz fees may undermine US goals

According to CNN, Trump’s advisors warned him that mandating the fees could undermine the US’s goals in the Strait of Hormuz and potentially validate, in Tehran’s eyes, Iran’s continued aggression towards commercial vessels. 

Despite objections from within the White House, Trump’s announcement prompted a scramble to outline the logistics of such a tolling system, according to CNN, with staff working to determine exactly who would pay the fees and how they would be collected.

At the same time, leaders of US allies in the Gulf reportedly began trying to contact Trump to convince him to reverse the toll decision. 

According to CNN, appeals came from Saudi Arabia, the United Arab Emirates, Bahrain, and Qatar.

One day after announcing the fee, Trump reversed his decision, stating that the proposed toll would be replaced by US-Gulf State investment deals, potentially with Gulf leadership that had advocated against the proposed fees.

This post was originally published on here. 

Europe’s lead agency fighting drug trafficking, the Maritime Analysis and Operations Center (MAOC), released a “call to action memo” this spring, urging countries to allow the “use of force during maritime pursuits, allowing for engine-disabling tactics and shooting,” confidential documents seen by the Washington Post, German broadcaster NDF, LeMonde in France, and NRC in the Netherlands found. 

This comes as Europe is getting hit by what one DEA officer called “a tsunami of cocaine,” and follows a controversial operation in which a French Navy sniper immobilized a high-speed smuggling vessel by shooting its engines from a helicopter in October. 

This marked the first time any European military had fired on one of these go-fast boats, small speedboats which can wait weeks at sea for large transport ships from South America to reach them with tons of cocaine. 

French maritime officials endorsed the MAOC plan to lean towards more military-style operations, writing in a document that authorities have been unable to stop more than a fraction of smuggling vessels “due to a lack of naval assets,” the Washington Post wrote. 

While 100 tons (100,000 kg.) of cocaine was seized with the aid of MAOC in the last year, the agency estimated another 770 tons had gotten through into Europe. 

Cartels switch from using large cargo ships to small speedboats

Cartels have changed up the routes used to bring cocaine into the continent. While cocaine used to be transported in large container ships to major European ports, after crackdowns in cities including Antwerp, Hamburg, and Rotterdam, networks shifted to offloading the cocaine to the go-fast boats while still outside European waters, Andy Kraag, head of the European Serious and Organised Crime Centre at Europol said. 

The go-fast boats then carry the shipments from the Atlantic to various points on the European coasts. 

The transport ships travel from South America towards floating encampments of go-fast boats tethered together, which may wait weeks to collect their cargo. 

“It’s ‘Mad Max’ at sea,” Dimitri Zoulas, head of France’s national anti-narcotics agency, said. 

“This is a phenomenon never before seen [in Europe] on this scale,” he added. 

Zoulas described the boats as an “armada,” and the men on board as “soldiers linked to the South American cartels who guard the boat and the cargo.”

The boats are optimized for speed, with most having at least four enormous outboard motors and capable of traveling at least 130 kilometers per hour, consuming 50-60 liters of fuel per hour at full speed. While the boats may cost hundreds of thousands of dollars, they are relatively disposable to the trafficking organizations whose shipments can be sold for over $100 million, the Washington Post cited experts as saying. 

Videos of these go-fast boats have emerged online, with TikTok and Instagram videos being filmed by crews on the boats containing large jerrycans of gasoline and packages which NRC wrote resembled boxes of cannabis or cocaine. 

@rife.rifenio♬ sonido original – rife rifeño

Some of the largest go-fast boats can transport up to 5,000 kilograms of cocaine, while other ships in the fleet may be specifically designated as a supply boat, used to transport fuel, food, and water to the boats waiting for the large shipment from South America. 

Kraag calls the route through the Atlantic the new “cocaine highway,” and said the smugglers use professional equipment and satellite providers such as Starlink to communicate and coordinate with each other. 

“That is how those guys on the water get their orders, locate the large ships transporting the cocaine from Latin America, and consult with buyers on shore,” Kraag said. 

Spain seizes 30 tons of cocaine in largest cocaine seizure recorded

The scale of the supply chain was demonstrated in a Spanish seizure of the Arconian, a cargo ship which was carrying 30 tons of cocaine, making the operation the largest cocaine seizure ever recorded. 

The Arconian was also carrying tens of thousands of liters of gasoline, which the authorities believe were likely for a fleet of go-fast boats. 

Contributing to the rise in cocaine in Europe is the crackdown on narcosmuggling in the US, career DEA officer and former administrator in the Trump administration Derek Maltz said. 

“The cartels have shifted their focus toward Europe in the face of more aggressive interdiction and disruption operations by the United States,” the Washington Post cited Maltz as saying. 

US President Donald Trump’s administration has been striking vessels it accuses of transporting illegal drugs, and has designated multiple drug cartels as terrorist organizations. 

More than 200 people have been killed by US strikes on such vessels since September. 

Additionally, the US demand has been shifting toward fentanyl and other synthetic drugs. This, compounded with record levels of coca plant cultivation in Colombia, has led to cartels looking to Europe for new consumers. 

European proposals avoid length of Trump administration-style strikes

No European proposals have come close to advocating all of the tactics used by the Trump administration. 

“There is a level of risk acceptance, which actually predates Trump’s arrival in office, that is much higher over there [in the US],” a European source told LeMonde. 

While France has authorized the use of firearms to stop the go-fast boats, having snipers target the engines, customs officials emphasized that “the principle of the operation is zero casualties,” LeMonde wrote. 

Britain is the only other nation to acknowledge authorizing its military to use disabling fire in counternarcotics missions has not done so anywhere near its borders, but in the Caribbean and the Gulf of Oman, officials said. 

Most cocaine deliveries to Britain are by small aircraft and other means. 

France and Britain declined to answer questions about the legal authorities they rely on when carrying out strikes, the Washington Post wrote. 

“Any drug interdiction operations are conducted in full compliance with national and international legal frameworks,” the Washington Post cited the UK Defense Ministry as stating. 

Both France and MAOC are urging other European countries to authorize the use of firearms to stop the go-fast boats and stem the flow of cocaine into the continent, as well as to cooperate and contribute more resources to the effort. 

MAOC also urged countries to adopt the law implemented in Spain and Portugal that prohibits the manufacture and possession of go-fast boats. 

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The remains of human bones were found in a cave near Lifta, west of Jerusalem, Israel Police said on Thursday afternoon.

Forensic scientists are investigating suspicions that the bones are skull fragments, Israeli media reported.

Police officers arrived at the scene to investigate the incident.

Police officers also closed off the area while the investigation is ongoing.

The bones were found at approximately 12 p.m., Ynet reported.

View of Lifta, a Palestinian village west of Jerusalem abandoned during the 1948 Independence War, July 28, 2021; illustrative. (credit: YONATAN SINDEL/FLASH90)

Human remains found across Israel in recent months

Authorities have found other remains of human bones at several locations across Israel in recent months.

In April, human remains were found off the coast of Herzliya.

In February, children found the remains of an individual in the woods near Pisgat Ze’ev, north of Jerusalem. Police later confirmed that they belonged to a missing Finnish tourist.

Tzvi Jasper contributed to this report.

This post was originally published on here. 

A group of Israelis was attacked by a group of several young men in Budva, Montenegro, on Saturday, one of the victims told Israeli public broadcaster KAN News on Thursday.

“More than 10 young men cursed at us, kicked us, and threw chairs at us,” the Israeli said.

One of the other victims suffered a broken jaw, they added.

An additional victim fainted due to the severity of the beatings received, the Israeli told KAN.

This is a developing story.

This post was originally published on here. 

Medical experts are divided on Defense Secretary Pete Hegseth’s announcement that U.S. service members will undergo testosterone deficiency screenings with their annual physical exams. 

“War fighters aged 30 and older are going to be tested annually as part of their periodic health assessment,” said Hegseth in a video, posted with the caption “The High-T Department of War.” Elective testosterone testing will be available to younger service members, too, and if recommended, testosterone replacement therapy would be at the individual’s discretion. 

Read the rest…

This post was originally published here. 

UnitedHealth Group smashed through investors’ earnings expectations in the second quarter, with executives confidently saying this new level of profit is durable for the foreseeable future.

The numbers lifted the company’s stock about 3% as it attempts to return to financial dominance under CEO Stephen Hemsley. But a string of comments made during the company’s earnings call on Thursday signals a more ominous path ahead for America’s businesses and workers.

More than 150 million Americans get their health coverage from a job. A new series from STAT chronicles how the costs of that insurance are stretching employers like never before. An increasing number of America’s small businesses are abandoning traditional health benefits completely, forcing workers to find alternative options.

Continue to STAT+ to read the full story…

This post was originally published here. 

Alternative asset manager Fidelis Investors announced on Thursday the closing of its fourth rated residential transition loan (RTL) securitization, FIDL 2026-RTL2, a two-year revolving, $191.5 million securitization backed by 381 residential transition loans across 24 lenders.

The closing comes amid growing demand for private lending solutions aimed at increased housing supply. The transaction is led by Unitas Funding LLC, a wholly owned subsidiary of Fidelis.

Rated by Morningstar DBRS and KBRA, the securitization marks several milestones for the residential transition loan market. Fidelis said it is the first manager to launch a second rated RTL securitization in 2026 and the first to close a transaction backed by KBRA-rated bonds.

Residential transition loans are typically used by real estate investors to finance the purchase and rehabilitation of properties, including fix-and-flip projects. Fidelis said the loans provide financing for housing rehabilitation projects that traditional lenders often do not support.

“From playing a major role in establishing the secondary market in residential transition lending to now bringing KBRA-rated bonds to market, Fidelis continues to drive the institutionalization of private real estate lending,” Brian Tortorella, managing partner at Fidelis, said in a statement.

“As the nation continues to contend with an intense housing affordability problem, investors are eager to support solutions that put more homes on the market while delivering strong opportunities for returns.”

Fidelis said investors are increasingly looking to private real estate lending as an opportunity to support housing rehabilitation while generating returns.

“The closing of our second rated RTL this year is a testament to the fact that, even as headlines repeatedly stress the private credit sector’s woes, investors remain deeply committed to private mortgage lending as an asset class,” Michael Tessitore, managing partner at Fidelis, said in a statement.

Jefferies served as sole bookrunner for the transaction.

“Fidelis’ continued growth is a testament to the company’s strong execution and best-in-class approach to the RTL sector,” said Jordan Rothstein, head of ABS trading and distribution at Jefferies.

Chris Schmidt, managing director at Jefferies, said the transaction was the first RTL securitization rated by two agencies and the first RTL transaction rated by KBRA.

Additional eligible residential transition loans may be added to the portfolio during future transfer periods, subject to the transaction’s eligibility criteria, Fidelis said.

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication.

This post was originally published on here. 

eXp Realty announced that Carmen Mercado, former national president of the National Association of Hispanic Real Estate Professionals (NAHREP) and former director of affordable lending at Freddie Mac, has joined the company as a real estate agent.

Mercado brings more than 20 years of experience in residential real estate, brokerage leadership, housing finance and affordable lending.

She has served as a broker, trainer, growth strategist and New York Department of State-certified real estate instructor, and has appeared on HousingWire’s annual Women of Influence list.

“Carmen has spent her career pushing the industry to be more inclusive and better prepared for what’s ahead. That’s exactly the mindset our model was built for,” said Leo Pareja, CEO of eXp Realty. “We’re not just gaining an experienced leader. We’re gaining someone who’s spent her whole career making other people better at this business.”

Mercado entered the real estate industry in 2002 following a difficult first-time homebuying experience with her husband, a military veteran.

At the time, she was working on Wall Street, but said the Sept. 11 attacks prompted her to pursue a career that allowed her to spend more time with her family while helping others navigate the homebuying process.

“Throughout my career, I’ve found that the agents who thrive aren’t necessarily the ones who predict every market change perfectly,” Mercado said. “They’re the ones who prepare before opportunity arrives. As the Roman philosopher Seneca wrote, ‘Luck is what happens when preparation meets opportunity.’ That’s a philosophy I’ve carried with me throughout my career.”

At eXp, Mercado plans to grow her own team while expanding her residential and investor business. She will also work with corporations, nonprofits and industry partners on business development and continue sharing market insights to help agents identify opportunities.

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication.

This post was originally published on here. 

You can sit any man down at a piano. Most can bang out the same three songs they learned in middle school, a few can tune it, and almost nobody can sit there and compose something worth listening to. That piano is AI.

The way highly systemized public homebuilders are approaching AI right now tells you everything you need to know about the next decade of competition in residential land and development.

Process vs. people: Who’s really playing the piano?

Public homebuilders are designed from the ground up to be process machines, not talent incubators.

They are extremely impressive organizations, especially on paper. They track every KPI you can imagine, standardize underwriting across markets, and run thick decks through committees with military precision. They’ve built layers of analysts to ingest data, managers to interpret it and executives to present it in language that Wall Street likes.

It is rational, scalable, and relatively safe.

But it comes with a quiet cost: those organizations don’t accumulate much true, native land intelligence. The business model presumes that you can take any person of average competence, plug them into a system and get consistent results. Rather than spend decades growing a small bench of people who deeply understand counties, corridors and infrastructure, public builders spend decades refining the scorecard – what to measure, how to report it and which hurdle rates to hit.

To go back to the piano, they don’t invest in people who can compose. They invest in sheet music, metronomes and rules about which keys you’re allowed to press.

That bias makes sense in a capital markets context. Analysts and managers are interchangeable parts. If one leaves, you slide another into the process and keep the machine running. The institution doesn’t depend on any single human’s intuition about a piece of land, because in theory the model and the committee will catch whatever matters.

But land in places like Texas has a nasty habit of refusing to behave like a spreadsheet. Counties don’t grow in straight lines. Infrastructure doesn’t arrive to match the PowerPoint timeline. Household formation, school dynamics, and migration waves move in ways that feel more like improvisation than execution.

The organizations that win in that environment aren’t the ones with the prettiest sheet music. They’re the ones with people who’ve been listening to the song for a long time.

What AI actually does inside a public builder

Into that structure walks AI. If you listen to the marketing, you’d think AI is going to make every builder smarter, faster and more efficient. There’s some truth to that. AI is good at grinding through repetitive cognitive labor: cleaning data, drafting memos, summarizing legal documents, building simple models and organizing notes. Inside a public homebuilder, that means AI will mostly attach itself to the analyst layer:

  • Analysts use AI to compile market reports, scrape data and produce executive summaries.
  • Finance teams use it to build sensitivity tables or stress-test assumptions more quickly.
  • Strategy teams use it to draft presentations and “thought leadership” that advances the corporate story.

On the surface, this looks like progress. The same number of people can now process more information. The decks look sharper. The memos read cleaner. The volume of deal flow in the machine increases. In some cases, headcount in back-office roles even gets reduced because one analyst with good AI tools can replace two without them.

Take note, however, of what is not happening.

The organization’s true exposure to the dirt, the days spent walking sites, the time invested in understanding how a given county really works, the patience required to develop a feel for a specific corridor does not naturally increase just because the reports get easier to generate. In fact, the temptation is to reduce that exposure because AI makes it feel like the data is “good enough” on its own.

The public company becomes even more reliant on processed information:

  • Deals are presented as pre-digested, risk-scored and model-validated.
  • Narrative around each market is polished into a tight story that fits the brand.
  • Confidence comes from the volume and cleanliness of the analysis, not from a hard-earned understanding of the place.

AI strengthens the existing bias toward process. Instead of asking “who here really understands this county,” leadership tends to ask “do the numbers look right and does the memo match our framework?” The organization does not get more curious about land; instead, it gets more comfortable with the illusion that business strategists can discern what they need to about land from behind a keyboard. Crucially, AI does not replace the need for analysts and managers in that environment. It just changes the tools they use. You still need people to frame questions, review outputs, make committees feel safe and keep the machine running.

The overhead does not disappear; it just looks more digital and slightly more efficient.

From a distance, it is easy to misread this as a leap in competitiveness. It’s a cosmetic upgrade. The builders who were already dependent on processed deal flow simply get better at processing. They don’t get better at finding the land.

The private developer’s asymmetry

Now look at another side of the table: the private, knowledge-rich land developer. This is usually a small group of principals and a tight team. They do not have the luxury of 10 analysts and five layers of management. What they do have, if they are any good, is native knowledge. They know their counties. They know which school districts matter and why. They know when a “planned” infrastructure project is genuine versus political theatre. They know who pulls the levers on zoning and utilities.

For years, the trade-off has been obvious: publics win on capital and scale; privates win on knowledge and speed. The publics can afford overhead; the privates often cannot. So the private developer spends more time doing analysis, building pro formas, preparing memos and packaging deals for lenders, partners or builders.

Their edge is the fact that they are composing the song, not just playing it, but composition is expensive in hours.

AI changes that equation far more for the private operator than for the public company. A principal who genuinely understands Parker County, Collin County, or any other Texas growth node can now use AI to offload much of the mechanical work that used to require staff:

  • Drafting financial models and adjusting assumptions.
  • Generating market summaries and competitive sets.
  • Writing lender packages, investment memos, and municipal narratives.
  • Cleaning and structuring data from public sources.

The knowledge stays with the principal. The grunt work moves to AI. That’s the inverse of the public model, where the knowledge is shallow and distributed and the process is deep and formalized. For a private developer, AI effectively acts as an overhead killer. They no longer need to hire as many analysts as possible just to keep up with paperwork.

They can keep the organization flatter, with decision-making closer to the ground.
Business leaders can put more capital into land positions, entitlement strategies and patient holding power rather than office headcount.

The result is a structural advantage:

The public builder uses AI to make its existing processes more efficient. The private developer uses AI to get rid of processes they never wanted in the first place. And because their edge is native knowledge, not process, they are able to interpret and direct AI output in ways that a process-driven organization simply cannot. AI becomes an instrument in the hands of someone who can already compose. They do not ask the tool to tell them where to buy land; they use the tool to test and package decisions they are already skilled at making.

Why this weakens public builders over time

Put these threads together and the asymmetry becomes clear.

Public homebuilders:

  • Still depend on analysts and managers to surface, scrub, and present deals.
  • Use AI primarily to polish those layers rather than to deepen their field understanding.
  • Grow more confident in processed outputs even as their direct contact with the land stays limited.
  • Become more susceptible to narrative traps – believing their own AI-generated stories about markets they don’t viscerally know.

Private, knowledge-rich developers use AI to shrink back-office cost and compress time-to-analysis. Keep judgment in the hands of people with real local experience. Allocate more capital to land and relationships, less to bureaucracy. Move faster on the right land, not just more land.

In that environment, AI becomes a net negative for highly systemized public builders relative to private competitors. It encourages them to double-down on process and distance from the ground. It does not materially reduce their need for analysts and managers, because leadership, compliance, and governance still demand human layers.

It makes their deal packages look more professional while doing nothing to improve the underlying intuition about where to plant stakes.

Meanwhile, the private developer who knows the market can show up with tighter packages, more conviction, lower overhead and better timing.

It is like giving everyone in the orchestra a metronome and sheet music upgrade, while one person quietly gets a Steinway, a quiet room, and more hours to write.

The publics will use AI. They will talk about it on earnings calls. Their decks will be cleaner and their risk matrices more detailed. But in the parts of the business where real value is created, reading counties, calling corridors, predicting infrastructure and getting ahead of migration, they will still be sitting at the piano playing other people’s songs. The people who can really compose will simply have fewer distractions, lower overhead, and better tools.

In Texas terms, AI hands the public builder a fancier clipboard, a drone and a better traffic study. It hands the private land guy a pickup truck, an extra five hours a day and someone to handle the paperwork while he walks another site.

If you are deciding where to place your next dollar in residential land, it is worth asking: Who here is using AI to help them play the piano and who is using it to tune the instrument they already know how to play?

This post was originally published on here. 

The parent company of 7-Eleven convenience stores shed more light on its plan to close hundreds of stores in the U.S. this year.

Parent company Seven & i Holdings indicated in a filing earlier this year that it planned to close 645 7-Eleven stores in the company’s fiscal year 2026.

Seven & i Holdings’ latest quarterly earnings report included a presentation about the company’s various initiatives, including the restructuring of its store network amid the closure plans as well as conversion, remodels and new openings.

It said that it plans to close 200 unprofitable 7-Eleven stores in fiscal year 2026, with 45 stores closed to date.

POPULAR CONVENIENCE STORE CHAIN TO CLOSE HUNDREDS OF STORES

The company also said that it plans to convert 350 of its convenience stores to wholesale fuel sites in the fiscal year, with 72 stores having been converted as of the first quarter.

Seven & i Holdings is planning to convert 390 stores to franchises this fiscal year and has done 43 to date.

Despite the company’s pullback, it’s also pursuing selective expansion and is planning to open 205 stores this year. The presentation noted it had opened 30 to date in the first quarter.

CONSUMER INFLATION COOLED MORE THAN EXPECTED IN JUNE AS GAS PRICES FELL

Seven & i Holdings’ plans to remodel 200 stores this fiscal year are expected to get underway in the second half of the fiscal year.

Overall, the plans outlined by the company earlier this year show the total number of 7-Eleven stores in the U.S. declining from 12,712 as of February to 12,272 at the end of the year, for a net decrease of 440 stores.

In late 2024, the company reported having 13,145 7-Eleven locations.

WHITE HOUSE, GAS STATIONS POINT FINGERS OVER STUBBORN PRICES WHILE LOCATIONS THAT SLASHED PRICES SEE BOOM

The company’s North American business has faced softer performance amid declines in customer traffic, according to company data.

The planned closures come as Seven & i Holdings looks to streamline operations and optimize its store portfolio. The company didn’t disclose which specific locations will be affected by the closures.

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FOX Business’ Bradford Betz contributed to this report.

This post was originally published here. 


Half of the country’s small business owners expect their revenue to rise over the next three months — the highest reading this year — even as their confidence in the broader economy collapsed to 24%, according to the Q3 Business Pulse survey released June 30 by Citizens Financial Group. Three months earlier, 36% said they were extremely or very confident in the U.S. economy.

Read those two numbers together and they look like a contradiction. They aren’t. They are two different questions, and owners are answering the one they can actually see.

Mark Valentino, head of business banking at Citizens, framed it plainly: “Small business owners are proving they can hold their own,” he said, arguing the split points to opportunity for operators willing to stay nimble rather than wait for conditions to improve.

What owners are actually worried about

Cost is the answer, and it isn’t close. 51% of owners named rising costs and inflation as their biggest challenge, ahead of economic uncertainty at 43% and finding and keeping customers at 39%.

The timing matters. The survey ran from June 1 to June 18 — squarely inside a stretch when energy prices were driving inflation and the war with Iran was reshaping fuel costs. For a business owner in Passaic or New Rochelle, “the economy” is a headline. The electric bill is a number on a desk. That gap is what the survey is measuring.

Citizens polled 500 business principals — owners, founders, partners, chief executives and presidents — and weighted results by company size to reflect the national small business population. The quarterly survey tracks near-term expectations for revenue, hiring, spending, credit usage and business challenges. It replaced the bank’s former Business Conditions Index, which drew on the bank’s own internal data rather than asking owners directly.

Hiring and borrowing plans held steady. Owners are not retrenching. They are also not surging.

How this reads against six months ago

The Q1 survey, conducted back in November 2025, was considerably more bullish. Then, 64% of smaller companies with revenue between $500,000 and $4.9 million expected revenue growth in the coming quarter, and 86% of middle-market firms above $5 million said the same. 68% of middle-market companies said they were confident in the economy. 41% planned to add headcount, and fewer than 3% planned to cut full-time staff.

Half the small business field expecting growth now is an improvement over the rest of 2026 — but the confidence figure has been moving the other way all year. Owners have downgraded their view of the country while upgrading their view of themselves.

The tri-state overlay

Nothing in the survey is specific to New York, New Jersey or Connecticut, but the cost pressure it identifies lands hardest here.

New York City inflation ran 5.1% in May against 4.2% nationally, with energy prices the primary driver, according to the Office of the New York City Comptroller. New York State electricity prices are the sixth highest in the country. Con Edison delivery rates rise again in 2027 and 2028 under the schedule approved by the Public Service Commission.

New Jersey has its own version. The New Jersey Chamber of Commerce said the state slipped from 30th to 31st in this year’s CNBC business rankings, with New York, Pennsylvania and Connecticut all placing ahead of it. NJBIA President and CEO Michele Siekerka has argued the state’s core problem is not any single cost but the absence of predictability — owners cannot plan when the rules keep moving.

Trenton is nibbling at the edges. Business formation fees dropped $25 on July 1 under P.L.2026, c.24, cutting the cost of filing a Certificate of Incorporation from $125 to $100. That is real money to nobody, and the state itself pegs the revenue loss at $4.1 million. It is a gesture, not a fix.

What to do with this

For a bank with $227.9 billion in assets and roughly 1,000 branches across 14 states, this survey is a lending signal: demand for credit is stable, appetite for expansion is real, and the constraint is margin, not confidence.

For an owner in the tri-state area, the useful takeaway is narrower. The businesses reporting growth are not the ones who correctly predicted the economy. They are the ones who stopped trying to, and went to work on the costs sitting in front of them.

JBizNews Desk | New Jersey © JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

Israel is facing major challenges from both the Democratic Party and the Republican Party, President of the Jerusalem Center for Public Affairs, Dan Diker, told The Jerusalem Post on Thursday after the US House of Representatives voted on an amendment to cut off aid to Israel.

The House voted 314 to 104 to defeat the measure on Wednesday, offered as an amendment to a State Department spending bill by Republican Representative Thomas Massie of Kentucky. However, 103 Democrats and one Republican backed it, a sharp departure from years in which bills supporting Israel passed almost unanimously.

“It’s clear that the Democratic Party has moved consequentially to the left, and that they are much more heavily influenced by people in the progressive flank,” Diker told the Post.

“It’s a troubling direction that we see now in Washington, not only in the Democratic Party, but also in the Republican Party, because the Republican Party is split about its own self-understanding.

“You have the vice president of the United States sitting for over two hours on the Joe Rogan populist podcast show and casting these completely unfounded aspersions on Israel as if we are advancing psychological operations, information operations, against him personally. And he starts cursing out Israel, America’s best ally, maybe in the world, definitely in the Middle East, because of his own failed efforts against the Iranian regime.

Israel must be independent from the US, Dan Diker says

“The indications from this vote is that Israel should open its eyes very, very widely and understand that it has major challenges. There’s a lot of – there’s a convergence between the isolationist wing of the Republican Party and the left wing of the Democratic Party.”

Diker said Israel needs to be very focused on maintaining its relationship with the United States, because the “United States is Israel’s greatest, most dependable ally.”

But, at that same time, he stressed that Israel must be independent from the US.

“The October 7 … massacre taught Israel that it must become independent in terms of supplying its own military security and defense capabilities, and we cannot be dependent on anyone as a supplier,” he explained.

“We have to be able to fundamentally arm and supply ourselves to be able to be fully security and defense independent.”

Diker said that this is the lesson that comes out of these types of political developments (such as the Massie Amendment); “It emphasizes and re-emphasizes the importance of staged independence, especially in the face of this eight-front war that we’re facing.”

Nevertheless, he added that “Trump really appreciates a strong Israel.”

‘Not all Democrats support the Massie amendment’

“Trump looks at Israel as a winner, and that’s what Trump likes. But what happens is when you go deeper into civil society, especially on the liberal side, they become less enamored of Israel’s power and ability to defend itself well. And I think generally, certainly in the free world where they look at victims and people who perceive to be oppressed as being virtuous, there is the expression ‘strong is wrong, weak is right.’”

“And Israel is on the strong side today. That’s why the more powerful Israel behaves in terms of deterring its enemies, the more antisemitism spikes in the West.”

The most important message from Diker is that Israel is fighting on the “front lines of the war for Western civilization.”

While many Democrats supported cutting aid to Israel, he said what they do not understand is that “the people who hate America hate Israel because they think we’re an extension of America; that’s why they’re trying to destroy us.”

“The point here is that the West needs to understand the ideological structure of the – of its enemies in the Middle East and how Israel is fighting with its daughters and sons to protect America from the Middle East against another 9-11,” he added.

Of course, not all Democrats supported the Massie amendment.

Democratic Rep. Laura Gillen said, “The State of Israel is one of our most important allies and the only democracy in the Middle East.”

She called the amendment “extremely harmful” and said it would “threaten our strategic alliance, undermine our national security interests and eliminate funding for important research and diplomacy in the region.”

Rep. Brad Sherman said the Massie amendment “sends a clear signal to the enemies of America that we are willing to abandon our allies and our own security.”

He proudly announced that he “stood against this anti-Israel, pro-terror amendment.”

This post was originally published on here. 

Lebanon and Syria will, in the coming months, begin revising decades-old trade agreements to revive their economic relationship following the ouster of Syrian leader Bashar al-Assad in 2024, Lebanon’s economy minister told Reuters on Thursday.

Amer Bisat, who said the countries could eventually aim for a larger bilateral trade deal, spoke a day after holding talks with his Syrian counterpart in Damascus.

The two countries have been undertaking a reset in ties since the end of nearly half a century of Assad family rule that saw Syrian troops stationed in Lebanon for almost 30 years.

“That economic relationship needed to be reset, and it has the potential of being the most important bilateral relationship for both countries,” Bisat said.

Lebanon used as primary export corridor for Syrian trade

Lebanon shares a 230-mile border with Syria to its north and east and has relied on Syrian land routes to truck exports to Jordan and the Gulf.

Syrian exporters have also used Lebanon as a primary export corridor, particularly during the 14-year war that ended with Assad’s ouster.

At its peak, total trade between the two countries was just under $800 million. Last year, trade volume was around $250 million, according to Bisat, who said the relationship “should be measured in the billions” instead.

As a first step, a committee set up in early July would review more than 40 pacts and memoranda of understanding agreed with Assad-era Syria that covered investment frameworks, visa and tax regimes and other dimensions of Syrian-Lebanese trade.

Bisat said the review could take several months but that a bigger trade deal could take longer.

Such a deal would need to address logistical hurdles to land transport and tackle tariffs that are “not uniform,” Bisat said. “Lebanese exporters pay an export tariff, and the Syrians don’t,” he added.

This post was originally published on here. 

The House adopted Rep. Claudia Tenney’s amendment to a resolution calling on the US to defend Jewish religious freedom and equal access at the Temple Mount.

“It is unconscionable that Jews do not enjoy the same access rights to visit and pray at their holiest site that other religions do,” Tenney told the House ahead of the vote.

She referred to this as a basic tenet and principle of religious freedom and urged the US to do more on this issue.

“That is why my amendment would emphasize the need for the US Commission on International Religious Freedom to work to ensure religious freedom and equal access for all with regards to the Temple Mount,” she said.

Amd’t No. 28 specifically increases and decreases funding for the US Commission on International Religious Freedom by $1M to emphasize the importance of ensuring religious freedom and equal access for all with respect to the Temple Mount.

Recognizes integral role Temple Mount to the Jewish people’s heritage and history

It was approved by voice vote.

Amendment 28 directly reinforces the legislative intent of Tenney’s own resolution, H.Res.852.

Both measures are part of a coordinated effort by the congresswoman during the 119th Congress to position the House of Representatives in favor of full Israeli sovereignty and expanded religious worship rights at the holy site.

Res.852 was introduced in October 2025 as a standalone measure. It seeks to formally place the House on record affirming that Jerusalem is the undivided capital of Israel and that Israel holds sole sovereignty over the Temple Mount.

It also recognizes the integral role of the Temple Mount to the Jewish people’s heritage and history.

The Funding Amendment (Amdt No. 28) acts as an enforcement and awareness tool by adjusting the budget of the US Commission on International Religious Freedom.

During the same sitting, the House struck down the Massie Amendment, which would have barred any funding in the appropriations bill from being used for Israel, and blocked $3.3 billion in annual security assistance Washington sends Israel.

Tenney voted against the amendment.

This post was originally published on here. 

“I genuinely believe it has Academy Award potential,” said Danny Cohen, the CEO of Access Entertainment and a producer on such high-profile films as The Zone of Interest and Conclave, when asked about how he came to join in producing Avi Nesher’s upcoming movie, Our Loves, at a panel on how Israeli films can break through to international audiences at the Jerusalem Film Festival on Monday.

Cohen, who spoke from the UK via video, went on to say, “I’ve worked on a number of Oscar campaigns. I think Avi’s work deserves that platform. And I hope the Israeli Academy selects this film as Israel’s submission for Best International Feature.”

The event was billed as a case study of how one Israeli movie, Our Loves, is making the journey to screens around the world. Nesher describes the moving film, which is generating great buzz at preview screenings, as the story of several people in southern Israel who thought they were having the worst day of their lives on October 6, 2023.

Only after we have gotten to know the characters does the film follow them through the horrors of October 7, and its impact is far stronger because we have become invested in them beforehand.

The movie was produced by SIPUR, an Israel-based, global film and television company, which brought international companies Fox Entertainment and Cohen’s Access Entertainment on board during post-production.

Nesher is an Israeli director whose career has spanned more than four decades, starting with the classic The Troupe, and including such movies as Turn Left at the End of the World and Image of Victory.

The panel about how Our Loves succeeded in attracting these international companies and how other Israeli films can follow suit was moderated by Alissa Simon, a critic for Variety and the chief programmer of the Palm Springs International Film Festival.

Panelists speak of Israeli film industry resilience

In addition to Cohen and Nesher, the panel featured Emilio Schenker, an Emmy Award-winning producer and the co-founder and CEO of SIPUR, and Yoav Abramovich, executive director of the Israeli Cinema Project – the Rabinovich Foundation, which supported Our Loves and which invests in about half of all Israeli movies.

The panelists spoke enthusiastically of the resilience of the Israeli movie industry in the face of boycotts, both official and informal, against Israeli creators and a worldwide resurgence of antisemitism, but they did not downplay the challenges.

Nesher said, “Israel has an extraordinary generation of filmmakers – directors, writers, and actors – many much younger than I am. In many ways, Israel reminds me of Australia before its film industry exploded, or Iran before it became internationally recognized.

“This country is full of remarkable talent… Israel has everything a major film industry needs: great film schools, a strong tradition, outstanding artists. Then came the boycott.”

Abramovich said, “Before October 7, success at festivals depended largely on making a good film. Today that’s no longer enough. Many festivals simply won’t screen Israeli films. Our strategy now is to work with those festivals, distributors, and partners who are willing to stand up to pressure.

“Public opinion changes quickly. Many people aren’t acting out of ideology – they’re simply afraid of being bullied. We have to work with the brave ones until the climate changes.”

Schenker expressed similar sentiments when he said, “First of all, producers need one thing above all else: a great movie. Without that, there’s no magic. With Our Loves, we had a great director and a great film. Then we needed courageous partners.

“Danny Cohen and Fernando [Szew, the head and president] of Fox Entertainment weren’t afraid to become co-producers despite the boycott. That’s incredibly important.”

‘The entire country was in shock’ after Oct. 7

He recalled the aftermath of October 7: “During those terrible days, the entire country was in shock. What has shocked me even more over the last three years is how Israel has gone, in the eyes of much of the international industry, from being seen as the victim to being portrayed as the villain. That shift has fueled an outrageous boycott.”

“Some people genuinely harbor anti-Israel attitudes. Others are simply afraid. They worry about protests, controversy, or damage to their careers,” Cohen noted. “I also think many younger employees within cultural organizations have become highly radicalized on this issue, and too many leaders aren’t prepared to stand up to them.

“Ultimately, it comes down to courage. Leadership means making difficult decisions. If we believe in great filmmaking and important stories, we have to support them.”

Nesher offered more than a glimmer of hope for breaking through those anti-Israel attitudes when he described a screening of Our Loves at the Writers Guild of America in Los Angeles earlier this year.

“The atmosphere before the screening was tense. People clearly weren’t comfortable. Then the movie started. People laughed. They cried. They became emotionally invested. Afterward they applauded,” he said.

However, during the Q&A following the screening, “The talk eventually shifted from cinema to politics. I reminded them that during the Vietnam War people protested the US government, but nobody boycotted American cinema. Artists are often the strongest critics of their own governments. Boycotting them makes no sense.

“By the end of the discussion, minds hadn’t necessarily changed completely. But something had shifted. Cinema creates empathy. Once you empathize with people, it’s much harder to hate them. That’s why I believe quality will ultimately prevail. And that’s why courageous partners like Danny and Fernando matter so much.”

He went on to say, “Many of us disagree strongly with the current government. We protest. We make films that criticize it. There is an election coming. That’s democracy. The important thing is not to treat every Israeli artist as though they’re responsible for every government decision. People understand that distinction elsewhere in the world. They should understand it here too.”

The ability to focus on quality cinema was illustrated by a delegation visiting the Jerusalem Film Festival, composed of movie-industry professionals from around the world, including France, Germany, India, China, Nepal, Ghana, and Rwanda, who attended the panel discussion and a screening of Our Loves.

Many, including several executives from India, were so impressed by the movie that they used the Q&A at the panel discussion to ask how to acquire the rights to distribute the film in their countries. After the discussion ended, informal meetings took place between Schenker and Nesher and these executives.

But despite the enthusiasm for Israeli movies on display at the event, Cohen cautioned against complacency.

“We shouldn’t fool ourselves,” he said. “It’s become incredibly difficult. Israeli, and to some extent Jewish, culture has found itself in a distorted position internationally. But the only way to respond is to keep fighting. We have to celebrate Israeli creativity and keep making outstanding work.”

This post was originally published on here. 

The Knesset plenum passed into law on Thursday the contentious bill led by Communications Minister Shlomo Karhi, which is set to enact sweeping reforms to Israel’s broadcasting sector. 

The bill passed in its final second and third readings with 53 lawmakers in favor and 48 against. Prime Minister Benjamin Netanyahu arrived at the plenum during the vote.

The legislation is expected to grant the government substantial control over broadcasting media in the country.

Critics argue that the legislation could harm freedom of the press and ultimately benefit outlets such as Channel 14, while negatively impacting channels such as Channel 12, which coalition MKs and ministers have claimed is anti-government. 

Karhi has argued that there exists a monopoly in Israel’s private media market, especially over Israel’s highest-rated TV news outlet, Channel 12.

Coalition sprints to pass controversial legislation package

The bill is considered one of the flagship pieces of legislation that Netanyahu’s coalition has been pushing to pass in the government’s term. 

The reform has received severe legal warnings, along with concerns over the process by which the legislation was advanced in an attempt to fast-track it by the end of the government’s term.

The legislation advanced despite not having received approval from the Attorney-General’s Office.

At the heart of Karhi’s bill is the establishment of a single, unified regulatory authority that would replace the existing Second Authority for Television and Radio and the Council for Cable and Satellite Broadcasting. The new body would regulate the supply of audiovisual content uniformly across all broadcasting platforms.

A contentious aspect of the new authority is that it would consist of a nine-member committee, with representatives selected by the communications minister. This has led to criticism that the council’s appointments would be political.

While it is widely accepted that Israel’s broadcasting sector requires change that will better reflect the realities of today’s modern media environment, the reform has raised numerous concerns.

According to the Israel Democracy Institute (IDI), it eliminates all safeguards for the quality of journalistic content and grants overly broad enforcement powers to the regulator, which could harm journalistic professionalism.

Additionally, a consumer benefit that was promised by Karhi, which would have particularly benefited soldiers, was also removed from the bill at the last minute.

The benefit sought to create a government broadcasting application to allow free mobile viewing of major sports broadcasts.

The last-minute removal of the benefit came after the haredi (ultra-Orthodox) parties had said that they would not support the bill, citing concerns that the provision could lead to broadcasting on Shabbat.

The bill underwent repeated revisions throughout a highly controversial legislative process. A special committee was established specifically to advance the reform, chaired by Likud MK Galit Distel Atbaryan.

The committee was formed even though such legislation would typically be referred to the Knesset’s Economic Affairs Committee, which traditionally handles such matters and is chaired by Likud MK David Bitan.

Bitan had publicly opposed the reform, prompting critics to argue that the creation of a separate committee was intended to advance the legislation while bypassing internal opposition within the coalition.

MK Shelly Tal Meron (Yesh Atid) has been a vocal critic of the legislation, joining numerous debates in the Knesset’s special committee.

She told the plenum ahead of the vote that the process by which the legislation was advanced was unlawful.

Meron said after witnessing all that went on in the meetings, she had “lost trust in everything that the Knesset is supposed to represent.”

Meron also said that Karhi did not provide enough statistics and information that were asked for, and that he would join all the committee meetings “because he wanted to control the committee and there were many times when he did so.”

Prime Minister Benjamin Netanyahu and Communications Minister Shlomo Karhi are seen in the Knesset plenum during a vote on the minister's communications reform, in Jerusalem, July 16, 2026 (credit: MARC ISRAEL SELLEM/THE JERUSALEM POST)

A-G Baharav-Miara claimed communications bill was a threat to Israeli journalism

Attorney-General Baharav-Miara disapproved of advancing the broader communications reform bill before it reached the plenum for a first reading.

She said in September that the bill posed a concrete threat to the free press in Israel and its ability to fulfill its duties in a democratic society, adding that the proposal itself lacks fundamental qualities.

The Union of Journalists in Israel, a key watchdog in the industry, petitioned the High Court of Justice to halt the advancement of the communications reform law.

Opposition lawmakers have sharply criticized the reform, with many warning that it is undemocratic and could be used to silence the media during an election year.

Opposition leader Yair Lapid, himself a former broadcast journalist, has warned the bill was not a reform but rather “a campaign of incitement and gagging against the free press.”

Karhi has rejected these claims, arguing that the reforms will have the opposite effect by opening the market to a wider range of voices, which he has said will strengthen press freedom.

Controversy surrounding the legislation increased after the government voted to shut down the 75-year-old state-funded Army Radio in December.  

The passage of the reform also comes amid reports that Netanyahu has made a deal with the haredi parties to advance their contentious legislation for support on coalition legislation in exchange.

Netanyahu’s coalition has been on a legislative blitz to advance as much legislation as possible before the Knesset goes on recess this week ahead of the upcoming elections, scheduled for October 27.

Lapid vowed ahead of the vote on the reform that “what has been done over the past four days, we will cancel with the stroke of a pen.”

“Everything you are seeing here is an unnecessary farce, and it will be repealed within the first 100 days of the next government,” he added.

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Yemen’s Houthi leader Abdul Malik al-Houthi said on Thursday that all Saudi oil and other vital facilities would be targets for the group’s missiles and drones if Riyadh escalated its involvement in the conflict.

The warning came after the Houthis fired missiles at Saudi Arabia, accusing the kingdom of bombing an airport under their control on Monday, marking a rupture in a four-year truce between the two sides.

The Iran-backed Houthis have previously targeted Saudi energy infrastructure. In 2019, they claimed responsibility for attacks on two key Saudi oil facilities that temporarily knocked out more than half of the kingdom’s crude output.

In 2022, they struck Saudi energy facilities again. At the time, the Saudi-led coalition said an Aramco petroleum products distribution station in Jeddah was hit and caught fire.

Houthi leader threatens to strike ‘airports for airports’

“The real equation is Sana’a airport for Riyadh airport, airports for airports, ports for ports, and blockade for blockade,” he said in a televised speech.

Yemen has been mired in civil war for more than a decade since the Houthis seized the capital, Sana’a, prompting a Saudi-led military intervention in 2015 in support of the internationally recognized government.

The conflict has since evolved into one of the world’s worst humanitarian crises, leaving the country divided between a Saudi-backed government in Aden and a Houthi terrorist-controlled administration in Sana’a.

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US military leadership has held off on ordering an intelligence review to help determine the events surrounding the US-attributed strike that hit a school in Iran in the initial strikes during Operation Epic Fury, CNN reported on Thursday, citing three sources familiar with the matter. 

The first two stages of a “battle damage assessment” were conducted within a week of the strike and focused on answering basic questions, including whether the strike hit and damaged the intended target. 

Initial assessments supported reports that it had been a US strike. 

However, the next standard investigation step, where analysts, generally from the Defense Intelligence Agency (DIA) review the entirety of the available information around the event, including satellite imagery and other intelligence sources to provide a more holistic determination about what took place and how the strike impacted the broader operation, was not ordered, as of early July, CNN wrote, although the review would almost always be conducted in the immediate aftermath of a noteworthy strike. 

An independent investigation was launched in March, with interviews conducted with service members involved in the strike. 

Results of the review not released

Sources told CNN that information gained from such interviews had been “locked down” by CENTCOM, with access given to only a select few officers, despite their potential use to commanders still launching strikes against Iran. 

“There was no detailed analysis conducted, and CENTCOM locked down the investigation/blocked anyone from looking into it,” CNN cited an official as saying. 

A Defense Department official told CNN that “the investigation is ongoing,” adding that “we have nothing further to announce at this moment.”

One source told CNN that the DIA could not take place at the same time as the independent investigation, as the initial review indicated that the strike required a more thorough probe involving an independent body outside of CENTCOM. 

The investigation was given to an unnamed US general officer outside of CENTCOM for independent review, CNN wrote. 

Findings from the independent investigations were submitted to CENTCOM in April, but the delay continued due to a need to examine the causes of the targeting further, with layers of mistakes extending back years, the official told CNN. 

A previous CNN report indicated that senior US military commanders ignored warnings in critical bases about out-of-date intelligence regarding potential targets in Iran. 

The decision to ignore the warnings was made for “expediency,” and led directly to the accidental strike on the school, the officials told CNN. 

They added that the lack of a full review of the intelligence is unprecedented for such a noteworthy strike. 

DIA assessment upset Trump administration after 12-day-war

The Pentagon wanted to avoid a repeat of what happened after the 12-day-war in June 2025, when a DIA assessment led to reports that undermined US President Donald Trump’s claims that US strikes had “obliterated” Iran’s nuclear capabilities, a source told CNN. 

The assessment was conducted as part of a phase three analysis of the strikes, which the DIA undertook without an express request from CENTCOM, assuming it would fulfill its role of completing the analysis as usual, according to the source. 

However, once the press picked up on the reports in the assessment and the way in which it contradicted Trump’s claims, both the White House and US Defense Secretary Pete Hegseth grew upset with DIA leadership, the source told CNN. 

Gen. Jeffrey Kruse was then fired as DIA director. 

Sources told CNN that the use of classification power has grown to unprecedented levels, with the Pentagon and CENTCOM restricting access to even basic information and planning details that had previously been shared widely among service branches to coordinate operations. 

“I’ve never seen it used on stuff like this,” CNN cited one of the sources as saying. “One of the reasons the US military is as effective as it is, is because we work pretty well together … When you keep siloing us away from each other, we don’t amplify each other’s strengths and cover each other’s weaknesses. And you only do that if you’re bizarrely paranoid that we won’t follow your orders, or you don’t trust us.”

US President Donald Trump gestures as he participates in a bilateral meeting with Iraqi Prime Minister Ali al-Zaidi (not pictured) in the Oval Office at the White House in Washington, DC, US, July 14, 2026.  (credit: REUTERS/Evan Vucci)

Truth may never be known, Trump says

Trump has repeatedly stated that the full story surrounding the strike may never be known.

“I don’t think anybody is ever going to be able to say what happened there,” Trump told Fox News in an interview earlier in the week.

Trump seemed close to claiming US responsibility for the strike in early June, brushing off questions about the strike, but telling reporters that “mistakes are made. War is nasty,” and that “nobody did that on purpose.”

However, since then, Trump has cast doubts on US responsibility and satellite photos showing evidence it was a US strike, suggesting they may have been AI-generated.

Senators call for report to be released

Democratic senators led by Kirsten Gillibrand called on Monday for the Trump administration to disclose within the next week the findings from the independent report. 

The group of more than two dozen US senators, including the top Democrat on the Senate Armed Services Committee, Jack Reed, requested the US military finalize its investigation, brief Congress and present a plan to ensure such a mistake does not happen again.

“There is no justification for withholding an unclassified accounting of what happened, what went wrong, and what the Department is doing to prevent recurrence,” the letter said.

Senator Gillibrand also expressed concern over AI involvement in targeting decisions, questioning Under Secretary of Defense nominee Honorable Jules W. Hurst III, about whether AI was used in the strike on Minab at a meeting of the US Senate Armed Services Committee on Tuesday.

Hurst, having not seen the report, was unable to answer.

“Having AI-enhanced capabilities to defend is extremely important. But I’m highly concerned that before we push send on a missile that is going to target perhaps a girl’s school because the targeting was done so poorly, and the analysis wasn’t done accurately, that we have a human in the loop,” Gillibrand said. 

Gillibrand once again called for the Senate to receive the report.

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Mortgage rates rose this week to the highest level in nearly a year, mortgage buyer Freddie Mac said Thursday.

Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage climbed to 6.55% – the highest level since August 2025 – from last week’s reading of 6.49%. 

The average rate on a 30-year loan was 6.75% a year ago.

SILICON VALLEY ELITE SHIFT RECORD WEALTH TO BUILD FLORIDA’S NEW ‘TECH CAPITAL’

MEDIAN US HOME PRICE PROJECTED TO HIT $1 MILLION BY 2050 — RIGHT AS MILLENNIALS RETIRE

“Purchase application demand has weakened recently, but housing affordability is more favorable and housing inventory continues to rise, thus the backdrop for prospective homebuyers is modestly improving,” said Freddie Mac chief economist Sam Khater.

The average rate on a 15-year fixed mortgage rose to 5.93% from last week’s reading of 5.82%.

HOME SELLERS COULD BOOST OFFERS BY THOUSANDS WITH THIS SURPRISING PAINT COLOR

Mortgage rates are affected by several factors, including the Federal Reserve and geopolitics. Though mortgage rates are not directly affected by the Fed’s interest rate decisions, they closely track the 10-year Treasury yield. The 10-year yield hovered around 4.57% as of Friday afternoon.

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Smoke drifting south from wildfires burning in western Ontario pushed parts of New York City into the “Unhealthy” category on the Air Quality Index (AQI) Wednesday, July 15, as New York Governor Kathy Hochul warned that wildfire smoke combined with dangerous heat would create hazardous conditions across the state. The New York State Department of Environmental Conservation (DEC) expanded its Air Quality Health Advisory for fine particulate matter (PM2.5) to cover all regions of New York, with western portions of the state expected to experience the greatest impacts.

“Smoke and haze from Canadian wildfires are creating unhealthy air conditions,” Hochul said as she urged residents, particularly those with respiratory or heart conditions, to limit outdoor activity.

By midday, AirNow, the U.S. Environmental Protection Agency’s official air-quality reporting system, showed portions of New York City reaching the Red AQI category (151–200), classified as “Unhealthy,” meaning everyone may begin experiencing health effects while sensitive groups face greater risk. Other parts of the state remained in the Orange (“Unhealthy for Sensitive Groups”) category.

The smoke arrived during another intense summer heat wave. New York City Emergency Management and the Department of Health and Mental Hygiene warned residents that Wednesday would likely be the hottest day of the week, with temperatures approaching 100°F and heat index values between 102°F and 103°F. The National Weather Service forecast heat index readings reaching 104°F across portions of the metropolitan area, with temperatures remaining in the 90s through Friday.

To help residents reduce exposure, New York City distributed free KN95 masks at public library branches throughout the five boroughs. Mayor Zohran Mamdani encouraged residents experiencing breathing difficulties to remain indoors whenever possible and follow the same precautions recommended for the ongoing heat emergency.

The Grid Is the Business Story

Beyond the public health concerns, the combination of extreme heat and heavy electricity demand placed significant pressure on the regional power grid.

PJM Interconnection, the nation’s largest electric grid operator serving approximately 67 million people across 13 states and the District of Columbia, projected Wednesday’s peak electricity demand at roughly 164,553 megawatts (MW)—the highest load forecast of the week and within about 1,000 MW of its historic record.

PJM responded by issuing both a Maximum Generation Alert and a Load Management Alert for July 15.

The Maximum Generation Alert directs power plant operators to postpone maintenance and keep as many generating units available as possible. The Load Management Alert notifies customers participating in demand-response programs that they may be asked to reduce electricity consumption if system conditions worsen.

In addition, PJM expanded its Hot Weather Alert across its entire service territory through at least July 17.

To further strengthen system reliability, PJM requested emergency authority from the U.S. Department of Energy through July 21, seeking temporary relief from certain environmental operating limits and authorization to dispatch backup generating resources if necessary.

The request comes only weeks after PJM established a new all-time electricity demand record of approximately 168,158 MW on July 2, surpassing the previous record of 165,563 MW, which had stood since August 2, 2006.

During that earlier heat event, the New York Independent System Operator (NYISO) also declared an Energy Watch as high temperatures tightened reserve margins, although New York maintained reliable electric service throughout the event.

What It Costs

Extreme weather events increasingly carry measurable economic consequences.

During PJM’s July 2 demand record, day-ahead wholesale electricity prices exceeded $2,000 per megawatt-hour in portions of the system. The Western Hub benchmark settled at $1,222.75 per megawatt-hour, nearly three times comparable peak pricing seen during the summer of 2025.

Businesses purchasing electricity under variable-rate contracts or subject to demand charges can experience immediate increases in operating costs during such events.

Meanwhile, PJM’s most recent capacity auction cleared at a record $333.44 per megawatt-day, compared with just $28.92 three auctions earlier. Independent market monitor Monitoring Analytics estimated that approximately 63 percent of the increase is attributable to growing electricity demand from data centers, adding roughly $9.3 billion in costs ultimately borne by consumers and businesses.

Wildfire smoke and extreme heat also reduce productivity throughout the broader economy. Construction crews, delivery services, outdoor retailers and restaurants all face reduced operating hours and increased safety precautions.

Westchester County Health Commissioner Dr. Sherlita Amler urged employers whose employees must work outdoors to schedule frequent breaks, provide hydration and monitor workers for signs of heat-related illness.

Officials stressed that current forecasts do not indicate a repeat of the historic June 2023 Canadian wildfire event, when New York City’s AQI briefly reached 465, among the worst air quality readings ever recorded in the city.

JBizNews Desk | New York

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With rents at an all-time high in New York City, don’t miss this opportunity to live in a rent-stabilized apartment in Brooklyn. Located across from the 30-acre Fort Greene Park, the luxury development Verdant Fort Greene is now leasing its below-market-rate apartments, ranging from studios to two-bedroom units. Qualified New Yorkers earning 130 percent of the area median income can apply for the apartments, priced from $2,990/month studios to $4,347/month two-bedrooms.

This article is part of a paid partnership, which helps support our editorial work. 6sqft maintains editorial control over all content.

Developed by Fetner Properties, Verdant Fort Greene, located at 240 Willoughby Street, is a two-tower development with 463 apartments. Located in a quintessential Brooklyn neighborhood, the building sits less than a block from Fort Greene Park, a beloved public green space with rolling hills and open meadows designed by Frederick Law Olmsted and Calvert Vaux, the architects of Central Park and Prospect Park.

In addition to its proximity to green space, Verdant Fort Greene is also conveniently located near several subway lines, cultural institutions, like the Brooklyn Academy of Music (BAM) and the Brooklyn Paramount, and many restaurants and shops.

“This is an incredibly rare opportunity for New Yorkers to secure a luxury rent-stabilized apartment in Brooklyn with immediate occupancy,” Hal Fetner, president and CEO of Fetner Properties, said.

“We’re thrilled with the opportunity to welcome new residents to Verdant Fort Greene and hope many will make this their home for years to come.”

The studio, one-, and two-bedroom apartments feature spacious layouts, wide-plank hardwood floors, kitchens with marble backsplashes and stainless steel appliances, and an integrated Bluetooth speaker system. Another bonus is the in-unit washer/dryers.

The media room.

Amenities measure over 30,000 square feet, indoors and out. Residents have access to a fitness center, a yoga studio, a business lounge, a game room, a pet spa, a dog run, sports simulators, a children’s playroom, and a landscaped roof deck with sweeping views. There’s also onsite parking and bike storage.

The rooftop terrace.

The available apartments are rent-stabilized, which means any annual rent increases (or freezes) are regulated and approved by the Rent Guidelines Board.

Households earning between 130 percent of the area median income, between $107,383 and $238,160 annually, may be eligible for the apartments, ultimately saving about 30 percent on rent.

Pricing for the apartments starts at $2,990/month for studios, $3,640/month for one-bedrooms, and $4,347/month for two-bedrooms. Current incentives include two months free and a $ 1-per-month amenity fee.

Find out if you are qualified to apply for rent-stabilized apartments at Verdant Fort Greene by filling out the contact form found here.

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A low number of layoffs is keeping the U.S. labor market steady this summer, the government reported on July 16.
Initial jobless claims—the number of Americans filing applications for unemployment benefits—declined by 8,000 to 208,000 for the week ending July 11, according to new Department of Labor data.
This came in firmly below economists’ expectations of 217,000.
The reading was the lowest since the first week of May, when claims dropped to their lowest level since 1969.
Weekly unemployment claims were edging higher heading into the summer, reflecting an increase in the number of school staff applying for benefits during the break. But they peaked in early June and have been venturing lower….

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The Community Home Lenders of America (CHLA) concluded that the Federal Housing Administration (FHA) could use direct payments to lenders as the primary tool in a forthcoming small-dollar mortgage pilot program, arguing it is the only approach likely to meaningfully increase originations of mortgages below $100,000.

In a comment letter dated July 16 and addressed to acting FHA Commissioner Joseph Gormley, the trade group said lenders generally lose money originating small-balance mortgages because fixed origination costs outweigh the revenue generated from lower loan amounts.

The suggestions address the implementation of Section 105 of the 21st Century ROAD to Housing Act, which authorizes FHA to establish a pilot program aimed at expanding access to mortgages below $100,000. The law gives the agency authority to provide direct payments to loan originators, adjust FHA loan terms and costs, and offer grants to borrowers for expenses such as down payments, closing costs, appraisals and title insurance.

Higher rates of denials

The proposal comes as policymakers continue to examine the shrinking availability of small mortgages despite the continued presence of lower-cost homes in many markets.

An Urban Institute analysis from 2022 found that about 600,000 U.S. homes — 13.1% of all home sales in 2020 — sold for less than $100,000. Yet only about one-third of these homes were purchased with a mortgage, compared with more than 80% of homes selling for at least $100,000.

The report also found that applications for mortgages under $100,000 were significantly more likely to be denied than larger loans, with researchers citing lender economics, fixed origination costs and servicing challenges as contributing factors.

The Urban Institute noted that small-dollar borrowers are often lower-income, first-time or minority homebuyers, and said expanded access would likely require policies that improve the economics of originating smaller loans.

CHLA said its member lenders have concluded that direct payments to lenders are “the most effective — if not the only way” to measurably increase the origination of FHA small-dollar mortgages.

According to the organization, independent mortgage banks originated about 90% of FHA loans in 2025.

Borrower subsidies unlikely to move the needle

CHLA said subsidies for borrowers would help reduce upfront costs but would be unlikely to significantly increase loan volume because FHA’s low down payment requirements already keep borrower contributions relatively small on lower-priced homes.

CHLA also believes that FHA has sufficient financial capacity to support incentive payments. Citing the Department of Housing and Urban Development (HUD)’s fiscal 2027 budget estimates, the group said each FHA Title II mortgage generates a negative credit subsidy of 3.14%, meaning the agency earns more than it expects to pay in losses.

Based on these estimates, CHLA said FHA could provide combined payments to lenders and borrowers totaling as much as 3% of the loan amount while remaining profitable.

The association said direct payments of up to 1.75% of the loan amount could be administered operationally by withholding the upfront FHA mortgage insurance premium that is normally collected and remitted to the agency.

The letter said CHLA did not identify any FHA loan terms or costs that substantially discourage small-dollar lending. It noted that changing underwriting standards could compromise the safety and soundness of the loans.

The group also believes that federal loan originator compensation rules could limit the effectiveness of any lender incentives. Current compensation requirements generally require loan officers employed by lenders to receive the same percentage-based compensation across all loans, preventing employers from paying higher commissions for small-dollar mortgages.

CHLA also pointed to the federal Qualified Mortgage points-and-fees cap as another obstacle to small-dollar FHA lending. It noted that Section 402 of the ROAD to Housing Act directs the Consumer Financial Protection Bureau and FHA to examine the issue.

The trade group said expanded access to small-dollar FHA mortgages is particularly important for borrowers in rural and underserved communities — and for low- and moderate-income homebuyers who purchase lower-priced homes.

This article was written by Sarah Wolak and generated with the assistance of HousingWire Automation, then reviewed by a HousingWire editor before publication.

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Fossil Group plans to close up to 15 stores this year as the watch and accessories company continues trimming its global retail footprint under a broader turnaround plan focused on costs, profitability and balance-sheet strength.

Executives for the Richardson, Texas-based company said on Fossil’s first-quarter earnings call that the company shuttered seven stores during the quarter and expects total closures to reach up to 15 locations in 2026. The closures would leave Fossil with about 185 stores globally by the end of the year, Chief Financial Officer Randy Greben told investors.

The store cuts come as Fossil works to stabilize its business after years of pressure on sales. The company reported first-quarter net sales of $224.8 million, down from $233.3 million a year earlier. Its net loss attributable to Fossil Group narrowed to about $810,000 from $17.6 million in the prior-year quarter, while operating income improved to $12 million from an operating loss of $6.7 million.

BELOVED AMERICAN ICE CREAM CHAIN SHUTTERING DOZENS OF STORES NATIONWIDE

Fossil had 193 stores worldwide as of April 4, down from 220 a year earlier, according to its latest quarterly filing. The company closed 28 stores and opened one over that period, leaving it with 92 stores in the Americas, 47 in Europe and 54 in Asia.

The company has already made a larger pullback from brick-and-mortar retail. Fossil said in its annual filing that it closed 49 underperforming retail stores in fiscal 2025 as part of a turnaround plan aimed at refocusing the company on its core business, rightsizing its cost structure and strengthening its balance sheet.

Fossil’s turnaround plan also included a corporate workforce reduction and the transition of certain smaller international markets to a distributor model. The company said those moves helped it achieve about $100 million in selling, general and administrative cost savings in fiscal 2025 compared with fiscal 2024.

The company is not abandoning stores altogether. CEO Franco Fogliato told investors that Fossil had “significantly scaled back” its downsizing plan because of improved performance in full-price stores. Fossil has also said its 2026 strategy includes reducing the pace of store closures while focusing on profitable growth, operating-model improvements and shareholder value.

Still, Fossil has acknowledged risks tied to physical retail. In its annual filing, the company said traffic to its stores depends heavily on the success of the malls and retail centers where they are located. Fossil warned that declining mall traffic, anchor-store closures or the closure of a significant number of malls where it operates could weigh on its results.

Fossil’s products are sold in about 132 countries through company-owned sales subsidiaries and independent distributors. As of Jan. 3, the company operated 88 retail stores and 111 outlet stores, primarily under the Fossil brand.

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The government of Uganda has gone quiet on an outbreak of the deadly Marburg virus that it reported late last month, with the World Health Organization acknowledging Thursday it has made repeated requests for updated information on the status of the investigation into how it started and how far it may have spread.

“We’ve sent several additional requests for information, and we’re still waiting to hear from them specifically on the outcomes of the investigation that we know that they’re carrying out,” Chikwe Ihekweazu⁩, executive director of the Geneva-based agency’s Health Emergencies Program, said during a new conference. 

Read the rest…

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Freddie Mac reported in its weekly survey published Thursday that the average 30-year fixed mortgage rate climbed to 6.55%, up from 6.49% a week earlier. The 15-year fixed rose to 5.93% from 5.82%. It is the second consecutive week rates have moved up, and the direction traces to a place most homebuyers never think about: the Strait of Hormuz.

Freddie Mac noted that purchase application demand has weakened recently, but said affordability is more favorable and inventory continues to rise, leaving the backdrop for prospective buyers modestly improving.

How a war in the Gulf became a housing story

Mortgage rates follow the 10-year Treasury yield. The 10-year follows inflation expectations. And inflation expectations right now follow oil.

Rates fell to their lowest point since September 2022 in February. Then the U.S.-Iran war began on February 28, crude spiked, and rates jumped in March as inflation fears took hold. Brent traded above $114 at one point in March. Rates plateaued through the spring as the conflict dragged.

A ceasefire signed on June 17, paired with a deal to reopen the Strait of Hormuz, briefly looked like it would bring rates down. It did not last. The ceasefire collapsed in July, the U.S. resumed strikes, and rates ticked back up. West Texas Intermediate traded just below $80 a barrel Thursday; Brent held under $85 after a 12% run over three sessions. Treasury yields rose alongside them.

What forecasters had expected

Both Fannie Mae and the Mortgage Bankers Association had placed the 30-year fixed at 6.40% for the second quarter. Actual readings have run above that. Realtor.com chief economist Danielle Hale forecast last December that 2026 rates would fall to an average of 6.3% from 6.6%, with modest gains in sales, prices, and inventory, and declining rents.

Those forecasts assumed a normal year. They did not assume a war that closes the world’s most important oil chokepoint.

Other rates on the board

Daily lender surveys tell a similar story with different numbers. The average 30-year jumbo loan sits at 6.758%, down slightly from 6.770%. The 30-year FHA loan averages 5.940%, down from 5.961%. A separate daily reading showed the 30-year purchase rate up 3 basis points to 6.49%, the 15-year up 10 basis points to 5.96%, and the 5/1 adjustable-rate mortgage up 9 basis points to 6.74%.

The conforming loan limit set by the Federal Housing Finance Agency is $832,750 for 2026 across most of the country.

The Fed is not coming to the rescue

Traders are pricing in an 88% probability the Federal Reserve holds rates steady at this month’s meeting, according to CME’s FedWatch tool. That is the easy part. The harder part is the direction after that.

At the June meeting, the Fed’s dot plot showed nine of 18 officials now expect interest rates to increase in 2026 — not fall. Chairman Kevin Warsh declined to submit a rate forecast at all, while repeatedly emphasizing price stability in a tone the market read as hawkish.

That is a fundamental shift in the assumption underneath every 2026 housing forecast. Those forecasts were built on the expectation of Fed cuts. The Fed is now openly debating hikes.

What it means for buyers and the industry

The practical difference between 6.49% and 6.55% on a $400,000 loan is roughly $16 a month. That is not what breaks a deal. What breaks a deal is the pattern — buyers who have spent 18 months waiting for rates to fall are watching them rise again, and waiting has stopped looking like a strategy.

For homebuilders, realtors, and mortgage originators, the calculation is different. Refinance volume is the most rate-sensitive business in housing, and it moves on tenths of a point. Every upward tick in the 10-year Treasury closes a window that had briefly opened.

Inventory is rising and affordability is improving on the price side. Rates are the piece that will not cooperate, and for now they are hostage to a conflict 7,000 miles away.

JBizNews Desk | New York

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A federal nutrition program that helps nearly 7 million mothers and young children buy healthy food is facing cuts that could hit family grocery budgets and the stores that serve them. The fiscal 2027 Agriculture appropriations bill, released this spring by House Agriculture Appropriations Subcommittee Chairman Andy Harris, would reduce the fruit and vegetable benefit in the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC) and trim the program’s overall funding. For the second year in a row, the proposal has put one of the country’s most established nutrition programs at the center of a budget fight.

The stakes are concrete. Analysts at the Center on Budget and Policy Priorities estimate the House proposal would strip more than $141 million in fruit and vegetable benefits from about 5.4 million toddlers, preschoolers, and pregnant and postpartum participants. The bill also cuts WIC funding by $200 million compared with the current year, a reduction the center warns could force the program to turn away eligible families for the first time in three decades if food costs rise or enrollment grows.

The benefit at issue is what the program calls the cash value benefit, a monthly allowance that participants can spend only on fresh, frozen, canned, or dried produce. In the current fiscal year, children receive $26 a month for fruits and vegetables, pregnant and postpartum participants $48, and breastfeeding participants $52. Those amounts were roughly tripled from earlier levels through pandemic-era legislation and later made permanent, a change research shows led participants to buy significantly more produce.

President Donald Trump’s budget request sought a steeper reduction — a 75% cut to the produce benefit — before House appropriators pared that back to about 10%. Even the smaller cut, advocates argue, would undermine the science-based design of WIC’s food package, which aims to provide only about half of a child’s recommended fruit and vegetable intake even at current benefit levels.

The business implications reach beyond the program’s participants. WIC dollars flow directly to grocers and supermarkets, and reduced benefits mean less revenue for the retailers that stock the shelves, particularly smaller stores in rural areas that depend on the program’s customers. Federal stocking rules already require vendors to carry minimum varieties of produce, and any change in benefit levels ripples through their purchasing and inventory decisions.

Timing adds urgency. The bill also fails to make permanent the virtual-service options — phone and video appointments — that expanded during the pandemic and helped working parents and rural families stay enrolled. Those flexibilities are set to expire as soon as September 30, which advocates warn could force families with young children to take time off work and arrange transportation for in-person visits four or more times a year. One study estimated the virtual options increased participation by 11%.

The U.S. Department of Agriculture, which runs WIC under Secretary Brooke Rollins, has separately announced a reorganization of the office that administers the program, relocating staff to regional hubs including Kansas City, Missouri. The department says the changes will improve customer service without disrupting operations, but nutrition advocates worry the move could cost experienced staff, pointing to productivity losses when the agency relocated other divisions during the first Trump administration.

For families, the squeeze arrives at a difficult moment. Food prices remain elevated, and both tariffs and the renewed conflict in the Middle East could push grocery costs higher through their effect on oil. The Center on Budget and Policy Priorities notes that cuts to WIC would force affected families to spend more of their own money to give their children the same amount of produce — money many simply do not have as savings rates sit near multiyear lows.

WIC has long enjoyed bipartisan support, and Congress rejected a similar cut last year, with the Senate restoring funding before the bill passed. Whether that pattern repeats will be decided as the appropriations process moves forward. For now, millions of families and the grocers who serve them are watching a benefit that helps put fruits and vegetables on the table hang in the balance.

This article covers a policy affecting food assistance; families who need help affording groceries can dial 211 or contact their state WIC agency to learn about available benefits.

JBizNews Desk | New York
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WASHINGTON, July 16 — As the White House Office of Management and Budget’s proposed overhaul of the federal grantmaking process continues to generate widespread opposition, the U.S. Department of Health and Human Services has entered the evaluation phase of a separate artificial intelligence initiative built on a different model—one that HHS says is designed to complement traditional federal research through a public-private partnership.

The broader grantmaking proposal drew 496,769 public comments before the deadline. Researchers who analyzed the 52,322 comments publicly available at the time found that approximately 95% opposed the proposal, while roughly 1% supported it. The most common concerns centered on reducing the role of independent scientific peer review, expanding the influence of political appointees over funding decisions, allowing grants to be terminated before completion, and creating uncertainty for universities, hospitals, research institutions, biotechnology companies, nonprofits, and patient advocacy organizations that rely on federal research funding.

Those comments, however, were directed at the Administration’s proposed government-wide grantmaking rule—not at HHS’s LymeX innovation initiative.

At the same time, HHS has officially closed applications for its TOPx AI & Invisible Illness Challenge, moving the competition into the evaluation phase following the July 15 deadline. The challenge seeks breakthrough artificial intelligence solutions for Lyme disease, Long COVID, Myalgic Encephalomyelitis/Chronic Fatigue Syndrome (ME/CFS), Alpha-gal syndrome, and other invisible illnesses by bringing together innovators from healthcare, academia, technology, entrepreneurship, and patient advocacy.

According to HHS, the initiative builds upon the LymeX Innovation Accelerator, a public-private partnership between the Department of Health and Human Services and the Steven & Alexandra Cohen Foundation, originally launched during President Donald Trump’s first term. HHS’s multi-year Lyme disease strategy states that the partnership was established through a $25 million commitment from the Foundation and was designed to complement—not replace—traditional federally funded scientific research. HHS has also previously stated that more than $10 million in LymeX cash prizes have been underwritten by the Foundation as part of the initiative’s innovation prize competitions.

The current TOPx AI & Invisible Illness Challenge, which offers up to $2 million in prizes, is one of the latest initiatives developed under that broader LymeX framework.

Among those participating in the evaluation process is Duvi Honig, Founder and CEO of the Orthodox Jewish Chamber of Commerce, who was appointed to serve on the HHS evaluation panel for the AI & Invisible Illness Challenge.

Honig said the ongoing public debate surrounding federal grantmaking demonstrates the importance of distinguishing between traditional government grant programs and innovation challenges built through public-private collaboration.

“The concerns being raised about the broader federal grantmaking proposal deserve to be heard and debated on their own merits,” Honig said. “At the same time, I respectfully ask whether many people realize the HHS AI & Invisible Illness Challenge follows a different model. HHS has made clear that LymeX is a public-private partnership with the Steven & Alexandra Cohen Foundation that was specifically created to complement traditional federally funded research while accelerating innovation through prize competitions.”

Honig praised HHS Secretary Robert F. Kennedy Jr. for embracing what he described as a collaborative approach to solving some of healthcare’s most difficult challenges.

“I applaud Secretary Kennedy’s leadership for recognizing that government does not have to work alone,” Honig said. “By bringing together federal leadership, private philanthropy, researchers, entrepreneurs, clinicians, artificial intelligence developers, universities, hospitals, nonprofit organizations, industry leaders, and patient advocates, HHS is creating another pathway to identify breakthrough solutions for patients living with invisible illnesses. Public-private partnerships like LymeX expand the innovation ecosystem and encourage the best minds from across the country to compete to solve problems that have challenged patients and physicians for decades.”

Honig said he believes innovation challenges should be viewed as complementary to traditional research funding rather than a replacement for it.

“Patients suffering from Lyme disease, Long COVID, ME/CFS, Alpha-gal syndrome and other invisible illnesses have waited far too long for answers. Every credible pathway that accelerates scientific discovery, responsible artificial intelligence, earlier diagnosis, and better treatments deserves serious consideration. When government, philanthropy, academia and the private sector work together, patients are the ultimate beneficiaries.”

HHS has not yet announced how many applications were submitted for the challenge. The Department is expected to complete the evaluation process in the coming months before selecting finalists and ultimately announcing the winning teams.

JBizNews Desk | Washington

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The High Court of Justice will convene a nine-justice panel on July 28 to hear petitions against a law freezing arrest, investigation, and enforcement proceedings against qualifying ultra-Orthodox (haredi) yeshiva students who fail to report for military service.

Supreme Court President Isaac Amit announced the expanded panel on Thursday.

It will include Deputy Supreme Court President Noam Sohlberg and Justices Dafna Barak-Erez, David Mintz, Yael Willner, Ofer Grosskopf, Alex Stein, Gila Canfy-Steinitz, Yechiel Kasher, and Ruth Ronnen.

The composition of the panel is particularly significant because it includes all five justices who issued the court’s detailed and sharply critical rulings in November 2025 and April 2026, requiring the government to enforce military-service obligations against haredi draft evaders: Sohlberg, Barak-Erez, Mintz, Willner, and Grosskopf.

The challenge will therefore place before those justices a temporary law suspending the very criminal and administrative enforcement proceedings that they previously ordered the state to strengthen.

Grosskopf issues temporary order suspending law’s enforcement

Amit’s decision came one day after Grosskopf issued a temporary order suspending the law’s entry into force until further notice and a conditional order requiring the Knesset and government to explain why it should not be struck down.

Grosskopf cited the High Court’s longstanding rulings on the enlistment of yeshiva students, the implications of freezing enforcement proceedings “with regard to only certain sections of the population,” and the “weighty arguments” raised against the law’s validity.

The dispute comes after a succession of increasingly forceful High Court judgments on inequality in military service and the government’s failure to enforce the existing draft law.

In June 2024, a nine-justice panel unanimously ruled that, following the expiration of the statutory framework allowing deferments for yeshiva students, the government had no legal authority to refrain from drafting them or to continue funding institutions for students required to serve.

The court returned to the issue in November 2025, ordering the government to formulate an effective enforcement policy without delay.

That ruling said the policy must include meaningful criminal proceedings and broader economic and civil measures and found that the state’s conduct had come close to a complete abandonment of enforcement against haredi draft evaders.

Criminal proceedings against haredis must be applied equally

The five-justice panel said the rate of criminal proceedings against haredi evaders must ultimately be no lower than the rate applied to other population groups and described the existing situation as selective enforcement that undermined both equality and the rule of law.

After the government failed to implement that ruling, the same panel issued another decision in April ordering specific ministries and public bodies to consider revoking benefits, including subsidized housing, daycare assistance, public-transportation discounts, and municipal tax reductions.

The justices said that “no real steps” had been taken to implement their previous judgment and stressed that the state could not continue avoiding enforcement while citing the prospect of future legislation.

The Knesset nevertheless passed the temporary enforcement freeze on Tuesday by 58 votes to 54. The law was intended to remain in force until November 30 and would suspend enforcement against yeshiva students meeting its conditions.

It was passed despite warnings from the Knesset’s legal advisers that it would protect one group from criminal consequences for failing to meet draft obligations while leaving those consequences in place for the rest of the population. The advisers also raised serious concerns over the legislative process through which it was advanced.

The four petitions were filed by Israel Hofsheet, opposition leader Yair Lapid, and seven other Yesh Atid lawmakers; Yisrael Beytenu chairman Avigdor Liberman, MK Oded Forer, and the party; and the Movement for Quality Government in Israel.

The respondents must submit their replies to the petitions and requests for an interim injunction four days before the July 28 hearing. Grosskopf’s order freezing the law will remain in place until the court rules otherwise.

Keshet Neev contributed to this report.

This post was originally published on here.