One of the most telling statements from President Trump at this week’s G-7 meeting was how worried he was about a potential economic catastrophe related to the Iran war and the closing of the Strait of Hormuz. And equally telling, the president referred to the stock market as a key barometer of the economy.

This is very similar to over a year ago when he modified his original liberation day tariff schedules because the stock market tanked badly after his speech. So he made adjustments.

And I can tell you with my own experience when I worked at the National Economic Council in the first term, however many 100 times I was in the oval, he always asked about the stock market when he saw me coming in. 

It’s an interesting point of view. And it’s a kind of old-fashioned point of view. Because business and financial economists used to use the stock market as a key barometer of the economy.  

Leftists hate this, and unfortunately, today’s Wall Street is heavily populated by leftists, particularly the economists. Not all of them. But most of them.

So anyway, the president didn’t want to be remembered as Herbert Hoover. And here’s exactly what he did say on Wednesday in France:

“So the one thing I didn’t want to see is I didn’t want to see economic catastrophe. If you kept this going, that could have happened. But all I know is, every time we talked about the possibility of peace, the stock market shot up like a rocket ship. It never went down. They didn’t like it.” 

Mr. Trump added that “the stock market is more brilliant than anybody there is, including the people on this stage other than me, of course. Rather than possibly going into a depression, rather than having your favorite president be Herbert Hoover, who was always the one I didn’t want to be.”

I think that’s very important and very instructive on his thinking. I’m gonna get to the masterful, maiden voyage of the Fed chairman, Kevin Warsh, in just a moment, but I want to add from Mr. Trump’s Truth Social post this morning:

“OIL IS FLOWING, IRAN CAN NEVER HAVE A NUCLEAR WEAPON (THE WORLD WILL BE SAFE), THE STOCK MARKETS ARE ROARING, JOBS ARE AT RECORDS, AND PRICES ARE DROPPING (AFFORDABILITY). OUR COUNTRY IS STRONG, SAFE, AND RESPECTED LIKE NEVER BEFORE.” 

Mr. Trump concluded: “YOU’RE WELCOME.”

So now, Mr. Warsh made clear in yesterday’s presser that strong economic growth and low inflation, meaning stable prices, and low unemployment can all exist together. He basically told us that models developed 50 years or more ago should not be used in today’s ultra-high-tech, faster-than-the-speed-of-light economy. An important policy statement. And an enormous breath of fresh air.

Meanwhile, reports are coming in that oil is already flowing through the Strait of Hormuz faster than anyone thinks possible.

At $75 and change a barrel, West Texas intermediate oil today is right where it was one year ago, $75. But a year ago, gasoline was $3.18 a gallon. That’s a good forecast for what may happen. Right now it’s $3.99 a gallon nationwide, according to AAA. By the way $3.18 is an awfully good number for the GOP midterm outlook.

Yet Mr. Warsh was very clear that he is leaning toward restoring what he calls price stability. The Fed under its former chairman, Jay Powell, hadn’t hit its 2 percent inflation target in five years. Mr. Warsh wants to correct this.

I think it’s doubtful that he’s gonna start raising the Fed’s target rate, though. Why? Because they’d be looking backward at the lagging story of spiking oil, a story that has obviously completely reversed. Don’t base policy on last year’s story, try to look ahead. This too is a key Warsh theme.

And by the way, he watches commodities, which in general are falling. Energy, gold, silver, corn, wheat, etc., all falling. And as I noted yesterday, under Mr. Warsh, good news can once again be good news.

His goal is to get markets to react to the actual data news, not what some flyover regional reserve bank president says. That’s why forward guidance is gradually going to go away.

You know what’s really good news? Mr. Trump has decimated Iran’s nuclear and military capabilities. They’re on their knees. And that has allowed him to try and pull together a deal that includes reopening Hormuz.

And that’s going to allow Mr. Warsh the latitude for even more good news, both on falling inflation and rising prosperity. Think of it.

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Retirement plan participation among eligible U.S. workers reached a record 86% last year, according to Vanguard‘s 2026 How America Saves report, which analyzed retirement savings behavior across nearly 5 million defined contribution plan participants.

The annual report found that automatic enrollment, higher default contribution rates and broader use of professionally managed investments have reshaped retirement savings over the past 25 years, contributing to higher participation rates and increased account balances.

Participation among eligible employees has increased from 65% to 86% since the report was first published a quarter century ago, reflecting the expanded use of automatic enrollment.

Nearly two-thirds of retirement plans now automatically enroll new participants at contribution rates of at least 4%, while about one-third use default rates of 6%, the report explained.

“More than 25 years of data and insights make it clear — strong default contribution options and automatic features have made saving for retirement more accessible and effective for more Americans than ever before,” said Lauren Valente, managing director of Workplace Solutions at Vanguard.

Savings rates and account balances climb

The report found that participants are also saving at higher rates. Forty-five percent of workers increased their contribution rates in 2025, helping push the average combined employee and employer savings rate to a record 12.1%.

Average account balances increased 13% from a year earlier, supported by continued contributions and market performance.

Investment behavior also remained relatively steady despite periods of market volatility. According to the report, only 5% of participants made changes to their investment allocations during the year.

The use of professionally managed investment portfolios has also increased over time. Nearly 70% of participants now rely on professionally managed allocations, contributing to broader portfolio diversification, according to the report. Employer matching contributions reached a record average of 4.7%.

Home equity gains attention in retirement planning

The findings come as retirement professionals are increasingly viewing home equity as a key source of retirement income.

Reverse mortgage lenders are positioning home equity as a planning tool for retirees who seek greater financial flexibility, rather than as a product of last resort.

But industry data reflects a mixed picture. Mutual of Omaha Mortgage remained the nation’s largest reverse mortgage lender in May with a 21.5% market share, although its loan volume declined 14.9% from April and was 9.4% below year-ago levels.

Finance of America ranked second and was one of the few major lenders to post a monthly increase in production, despite lower year-to-date volume. The top 100 retail lenders endorsed 1,967 Home Equity Conversion Mortgages (HECMs) in May, down 4.7% from April and 10.8% lower year over year.

Shannon Robinson, senior vice president of New American Funding‘s reverse division, recently told HousingWire‘s Reverse Mortgage Daily (RMD) that demographic trends continue to support long-term demand.

“The state of reverse mortgages in the industry is really being driven by two powerful realities right now,” Robinson said. “One is that more than 11,000 Americans are turning 65 every day, and homeowners over the age of 60 to 62 years old hold over $15 trillion in housing wealth.

“When you just sit there and think about that statement, it’s extremely powerful. So, as active adults are looking for ways to navigate inflation and create financial flexibility, home equity is becoming an increasingly important part of the retirement conversation, and NAF is very much focused on that.”

Some lenders are also targeting affluent homeowners, marketing reverse mortgages as wealth management tools that can improve cash flow, reduce taxes and preserve investment portfolios.

Proprietary reverse mortgages have become a larger share of business for many originators, partially because they allow borrowers with higher-value homes to access more equity while avoiding the Federal Housing Administration‘s upfront mortgage insurance premiums on HECM offerings.

Still, higher interest rates and softer home prices continue to weigh on the market.

“Overall, 2026 has been a challenging year,” Gabe Bodner, a reverse mortgage planner and president at OneTrust Home Loans, told RMD. “Part of the reason is that with interest rates being higher, it has reduced principal limit factors, and we’re finding many borrowers are short cash to close, unfortunately.

“The other interesting thing is we’ve seen home values softening across most markets, but homeowners have an inflated opinion of the value of their home. And that has resulted in quite a few instances where values are coming in short or low, which is again causing borrowers to be short cash to close.”

Financial pressures remain a challenge

Despite improvements in retirement savings, the report noted that many workers continue to face financial pressures that affect their ability to balance short-term expenses with long-term retirement planning.

Vanguard said increased hardship withdrawals indicate ongoing challenges with financial resilience.

“While the progress and participant outcomes are significant, they also highlight where we need to go next,” Valente said. “Continuing to strengthen the system means helping Americans manage short-term financial pressures while staying on track for long-term retirement security and expanding solutions that support them at every stage of their journey.”

How America Saves is Vanguard’s annual analysis of participant behavior and retirement plan design trends across defined contribution plans.

This article was written by Jonathan Delozier and generated with the assistance of HousingWire Automation. It was reviewed by a HousingWire editor before publication.

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Waymo is recalling nearly 4,000 robotaxis after more than a dozen incidents in which the autonomous vehicles entered closed freeway construction zones, according to a National Highway Traffic Safety Administration (NHTSA) recall report.

The recall affects 3,871 vehicles equipped with Waymo’s 5th Generation Automated Driving System.

According to NHTSA, the software issue could allow a vehicle to enter a closed freeway construction zone and continue traveling at posted speeds. Regulators said affected vehicles may avoid or fail to recognize certain construction-zone closures because of the software defect.

Waymo estimates that all 3,871 vehicles covered by the recall are affected.

WAYMO PAUSES FREEWAY ROBOTAXI ROUTES AFTER SAFETY AND SOFTWARE CONCERNS

According to the recall report, Waymo’s Field Safety Committee began reviewing the issue in late April after examining six incidents in which robotaxis drove past ramp closure signs and entered freeway construction zones.

The committee met again in May after identifying seven additional instances involving active construction zones in the San Francisco Bay Area.

As a result of the 13 reported incidents, Waymo implemented freeway-driving restrictions while engineers worked to identify the root cause and develop a remedy, according to the filing.

The recall covers Waymo 5th Generation Automated Driving Systems manufactured between May 17, 2022, and May 19, 2026. As of June 13, a software remedy remained under development, according to the filing.

WAYMO RECALLS MASSIVE AUTONOMOUS FLEET AFTER INCIDENT FLAGS MAJOR SAFETY ISSUE

Waymo currently operates driverless ride-hailing services in cities including San Francisco, Los Angeles, Phoenix and Austin, and has announced plans to expand into additional markets.

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A Waymo spokesperson told FOX Business the company voluntarily restricted freeway operations while making improvements, notified regulators and filed a voluntary recall with NHTSA.

“We identified an area of improvement regarding performance around freeway construction zones,” the spokesperson said.

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The leaders of two of the world’s most influential artificial intelligence companies used a private session at the Group of Seven (G7) summit on Wednesday to advocate for a United States-led alliance that would help shape global rules and standards for artificial intelligence.

According to people familiar with the discussions, Anthropic Chief Executive Dario Amodei and Google DeepMind Chief Executive Demis Hassabis made the case during a closed-door working lunch in Évian-les-Bains, France, on the final day of the summit. Their message was straightforward: as AI becomes more powerful and strategically important, democratic nations should coordinate their efforts through a framework led by Washington.

The gathering brought together some of the world’s most prominent AI executives and political leaders. President Donald Trump attended alongside Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Secretary of State Marco Rubio. OpenAI Chief Executive Sam Altman also participated, placing the leaders of America’s three most prominent AI companies in the same room with G7 heads of government.

According to attendees familiar with the discussion, Canadian Prime Minister Mark Carney expressed support for the idea that the United States could play a leading role in organizing such a coalition.

Amodei reportedly focused on national security concerns and the risks associated with increasingly capable AI systems. He argued that allied nations should coordinate access to the most advanced frontier AI models and align policies governing the export of advanced semiconductors and critical computing hardware. According to people familiar with the meeting, he also advocated limiting China’s access to certain technologies and expanding cooperation on threats such as cyberattacks, bioterrorism, and intelligence operations involving artificial intelligence.

Hassabis took a broader approach, emphasizing the scientific and economic opportunities AI could create if governments establish a stable framework for cooperation. He highlighted the technology’s potential applications in areas such as healthcare, scientific discovery, and climate research.

Altman offered a different perspective. Rather than emphasizing leadership by any single country, the OpenAI chief reportedly supported the creation of a neutral international forum responsible for developing globally accepted standards for evaluating and testing advanced AI systems.

The discussion comes at a complicated moment for the AI industry. Governments around the world are struggling to balance innovation, economic competitiveness, and national security concerns. At the same time, AI companies increasingly view themselves not simply as technology providers but as participants in shaping the regulatory frameworks that will govern the industry.

For Anthropic, the timing is especially notable. The company has recently been engaged in discussions with the Trump administration regarding export restrictions affecting some advanced AI technologies. The situation highlights the increasingly complex relationship between AI developers and governments: companies seek government support and international coordination while also facing regulations that can directly affect their products and growth strategies.

The guest list reflected France’s effort to broaden the conversation beyond the United States. Attendees included Mistral Chief Executive Arthur Mensch, representing Europe’s leading AI startup, as well as executives from Cohere, Black Forest Labs, Synthesia, Salesforce, and Meta. Representatives from AI companies in Italy, India, and Japan also participated.

No formal agreements, commitments, or timelines emerged from the meeting. The discussions remained private, and details surfaced only through people familiar with the gathering.

Still, the conversation underscored a growing reality: the executives building the world’s most advanced AI systems increasingly want a role in determining how those systems are governed. Whether governments ultimately embrace a U.S.-led framework, pursue regional approaches, or establish a broader international model remains unresolved.

What appears increasingly clear is that the debate over artificial intelligence is no longer limited to technology. It has become a question of economics, national security, global competitiveness, and geopolitical influence—and the companies creating the technology want a seat at the table as those decisions are made.

JBizNews Desk
Évian-les-Bains, France

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

Rental affordability is on the rise, according to a June 18 Zillow report, which stated that 74 percent of America’s apartment rentals were affordable for a median-income household in May.
An analysis by the nation’s leading real estate and rental marketplace shows that last month had the highest share of affordable units ever recorded for May. To be considered affordable, a median-income household would spend no more than 30 percent of its income on rent.   
The national median monthly rent across all property types was $1,951 in May, according to the analysis. Using the 30 percent formula, a household would need to earn about $6,500 a month before taxes for that rent to be affordable. In San Jose, California, the median rent was $3,625—the highest in the country. A household there would need to earn just over $12,000 per month for that price to be considered affordable….

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The Israel Tennis & Education Centers have awarded NIS 200,000 in Anna and Michael Kahan Scholarships to four of Israel’s leading tennis players, marking a decade of one of the most significant scholarship programs in Israeli tennis.

The scholarships were awarded to senior player Maayan Laron, the Israeli national champion who trains at the Israel Tennis & Education Center in Haifa; Amit Vales, the Israeli national runner-up who trains at the Israel Tennis & Education Center in Ramat Hasharon; junior player Bar Shporen, who trains in Haifa; and junior player Re’em Elkayam, who trains at the Israel Tennis & Education Center in Ashkelon.

The funding will help the four recipients gain international experience through participation in tournaments abroad, training programs, professional equipment purchases, and a comprehensive support system that includes mental coaching, fitness training, and additional professional services.

This year marks the 10th anniversary of the Kahan Scholarship Program, which has been supporting outstanding Israeli tennis players since 2016. The program is widely regarded as one of the largest and most meaningful scholarship initiatives in Israeli tennis, enabling talented athletes to compete internationally, gain valuable experience, and advance along the elite performance pathway.

The scholarships are made possible through the generous legacy of Anna and Michael Kahan. Michael Kahan, a Holocaust survivor who immigrated to New York after World War II together with his wife Anna, also a Holocaust survivor, developed a deep love for tennis after his grandchildren began playing at colleges in the United States.

Scholarship brings excellence all around – Israel Tennis CEO

Motivated by a desire to contribute to Israel’s future, he believed Israeli tennis players could serve as ambassadors for the country around the world and established a foundation to support the next generation of Israeli tennis talent. His vision was clear: to promote excellence, create equal opportunities, and help develop future Israeli champions.

The scholarship program provides recipients with a significant opportunity to compete at the highest levels of the sport, gain valuable international experience, and continue their development toward professional careers while benefiting from extensive professional support.

“It is a day of celebration for us,” said Eyal Taoz, Global CEO of the Israel Tennis & Education Centers. “This scholarship is far more than financial assistance – it is a greenhouse for excellence, breaking boundaries, and realizing dreams in Israeli tennis.”

Yoni Erlich, professional director of the Israel Tennis & Education Centers, said the scholarship recipients represent the future of the sport in Israel.

“These are the moments when we meet the next generation of Israeli tennis,” Erlich said. “It gives players the best tools on the long and challenging road of becoming professional athletes.”

Danny Perekalsky, CEO of the Israel Tennis Association, praised the initiative and its impact on the sport.
“Initiatives such as the Kahan Scholarships are a true blessing for the entire tennis community,” he said. “For Israeli players, the road to the top of world tennis is especially challenging, and support like this can make all the difference.”

Speaking on behalf of the scholarship recipients, Amit Vales expressed gratitude for the support.

“On behalf of all the winners, I would like to thank the Kahan family for their generous support,” he said. “Scholarships like these allow us to keep dreaming big and should never be taken for granted. We greatly appreciate the trust placed in us and are committed to continuing to work hard to justify it.”

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Michael Tilson Thomas was widely recognized as one of the most influential conductors, pianists, and educators of the contemporary era.

His passing in April warrants a closer look at a musical legacy that encompasses not only his extensive podium career and discography, but also his compositions.

Throughout his life, Tilson Thomas dedicated his rare moments of downtime to composing. Much like historical conductor-composers such as Gustav Mahler, his oeuvre was relatively modest, yet these were the works of a master musician with a distinct, well-defined compositional identity.

As a composer, Thomas revealed himself as a clear descendant of Aaron Copland and Leonard Bernstein, yet his music shed a new and important light on the American canon.

This is largely because Tilson Thomas opened and expanded the range of possibilities in his music, spanning from rigorous modernism and gamelan music to jazz and rock, complete with electric guitars, drums, and saxophones.

He achieved this vast, eclectic mix without compromising the integrity of the piece, demonstrating, as James M. Keller wrote, “A refreshing openness and freedom of style.”

From Yiddish theater to a modern master

As the grandson of Ukrainian immigrants to New York, Tilson Thomas came from a family of artists; the Thomashefskys pioneered Yiddish theater in the city, and it was from his grandmother, Bessie, that he inherited his love for the stage.

However, as Tilson Thomas noted in Where Now Is, the 2020 documentary on his life, his stylistic fluidity was traced back to his father, who frequently improvised on the piano in a wide variety of styles at home, and from whom he inherited his profound love for music.

Tilson Thomas was a child prodigy who demonstrated remarkable musical talents from an early age. As a student, he had the privilege of working with some of the great artists who fled Nazi-occupied Europe for America, including violinist Jascha Heifetz and cellist Gregor Piatigorsky.

He went on to study composition with the German émigré composer Ingolf Dahl, who was a great influence on him, as well as with such seminal figures as Pierre Boulez, Luciano Berio, John Cage, and Lou Harrison.

Ultimately, however, his close professional association and personal alignment with Copland and Bernstein proved most definitive to his compositional voice.

In 1988, Tilson Thomas made his official debut as a composer with “Grace,” a piece written for Bernstein’s 70th birthday, setting his own text to capture his impressions of their initial meeting.

Composed in the same year, “Street Song” (scored for brass quintet or symphonic brass) has remained one of his most frequently recorded pieces.

A three-part work, it was deeply influenced by Copland’s ballets, evoking the Great Plains and the endless Western horizon through the open intervals of church-like chorales and a clear emphasis on syncopated rhythms rooted in jazz, Latin music, and folk traditions.

In “Street Song,” Tilson Thomas drew a musical document that captured the multiculturalism and diverse auditory spaces interlaced within American heritage, offering a brilliant contribution not only to brass literature but to the broader American canon.

While much of his oeuvre was deeply indebted to his American identity, several works explicitly engaged with his Jewish heritage.

A seminal example is his compelling 1990 composition, “From the Diary of Anne Frank” for narrator and orchestra.
Dedicated to Audrey Hepburn, who narrated the world premiere, the work received widespread critical acclaim for its integration of verbatim excerpts from Frank’s diary.

Tilson Thomas said that the piece was structurally cast in five variations built entirely on themes derived from traditional Jewish music – most notably the kaddish, the hymn to life and mourning.

The musical narrative develops linearly alongside the tragic circumstances of Frank’s short life, advancing in progression with her growing distress.

As the diary entries chronicle an increasing sense of isolation, the orchestral texture mirrors this psychological shift, becoming desperate and lonely.

For instance, as Anne wrote, “I can’t tell you how oppressive it is… we have to whisper, and tread lightly otherwise someone might hear us,” the orchestration descended into a quiet, menacing atmosphere.

Later, when she asked, “Dear Kitty, I expect you would be interested to hear what it feels like to disappear,” the music dissipated into a fragile, thin texture, pitting a solitary, lonely violin against a threatening brass section.

Yet the work was not merely a somber lament for a clever young life cut short. In key sections, the music surged with immense pride, self-conviction, and force.

It was here that Tilson Thomas effectively injected himself into Frank’s words, using the power of the orchestra to comment on the text and answer her fear with musical courage and strength.

The vocal masterworks: Whitman and Dickinson

Between 1999 and 2002, Tilson Thomas completed two major song cycles for voice and orchestra based on the poetry of Walt Whitman and Emily Dickinson.

These art songs demonstrated a sophisticated command of text-setting, characterized by intricate orchestral shading, distinct timbres, rich harmonic language, and an idiomatic understanding of vocal flexibility – qualities realized in premier performances by vocalists Thomas Hampson and Renée Fleming.

Tilson Thomas noted that his initial exposure to Whitman’s poetry during his 20s was formative, fundamentally shaping his artistic identity. His song cycle, “Whitman Songs,” composed in the mid-90s, reflected this influence.

The opening movement, “Who Goes There?” (set to text from “Song of Myself”), employed syncopation and jagged melodic contours aligning the music with the distinct American idiom of Whitman’s verse.

The second song, “At Ship’s Helm” (from “Sea Drift”), served as a lyrical interlude in which the orchestration text-paints the movement of the sea.

As the piece concluded on Whitman’s text, “Ship of the body, ship of the soul, voyaging,” the orchestra sustained a static, organum-like texture while solo horn and violin lines attenuated, suggesting a distant horizon.

Parallel to this was “Poems of Emily Dickinson” (completed in 2002), which was inspired by and dedicated to Renée Fleming. The cycle showcased Tilson Thomas’s ability to musically capture Dickinson’s wry humor and sharp cynicism.

In “Fame is a Fickle Food,” where Dickinson remarked that men eat of fame “and die,” the music dramatically halted on the word “die” with a sharp pizzicato in the double basses, punctuated by Fleming’s impassioned performance.

Crafting these pieces with fearless integrity, Tilson Thomas masterfully captured Dickinson’s sardonic, cutting observations through a shimmering orchestral palette.

In “Urban Legend” (2001), Tilson Thomas offered another fascinating composition, written for a unique ensemble of saxophone, strings, percussion, electric bass, and piano.

Here, modern dissonant harmonies and syncopated rhythms are seamlessly intertwined with jazz and Latin music, achieving a high level of artistic merit. His versatility is further apparent in “Island Music” (2003) for four marimbas and percussion.

Written following his travels to Bali, the piece’s musical language was deeply influenced by gamelan music, drifting exotically between the sonic landscapes of the Indonesian islands and the Caribbean.

Tilson Thomas’s unapologetic eclecticism culminated in “Four Preludes on Playthings of the Wind” (2016), a decades-in-the-making spectacle based on a 1920 Carl Sandburg poem.

The piece featured a chamber orchestra that periodically morphed into a raucous bar band, complete with electric guitars, saxophones, synthesizers, and drums.

Exploring an array of 20th-century vernaculars – from 1950s rockabilly to punk and funk – the work served as a high-energy, post-apocalyptic commentary on human vanity and the fall of empires, echoing the grand, defiant scale of Bernstein’s “Mass.”

A final testament

One of his final major compositions, “Meditations on Rilke” (2019) for voice and orchestra, was a deeply personal, introspective work.

In the score’s foreword, Tilson Thomas reflected on his father’s cultural fluidity and versatile musicianship – a stylistic pluralism that directly informed the composition.

For instance, the opening song, “Herbsttag,” began with distinct swing and jazz motifs before shifting into a late post-Romantic idiom, disclosing the clear influence of Gustav Mahler’s late works, such as “Das Lied von der Erde.”

However, the perspective remained undeniably Tilson Thomas’s own, firmly rooted in 20th-century Western traditions.

It was masterfully crafted in terms of both composition and orchestration.

Addressing this later work, Tilson Thomas wrote: “My greatest concern has always been about what remains with the listener when the music ends. It is my hope that these musical reflections of many years may stick with you.”

Indeed, it seems certain that these compositions will endure as a vital pillar of his legacy.

For listeners wishing to explore this side of his artistry, the definitive collection of his creative output is captured in Grace: The Music of Michael Tilson Thomas, a comprehensive four-disc box set released by Pentatone.

More information on his compositions can be found at michaeltilsonthomas.com

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Federal Reserve Chair Kevin Warsh’s new framework for the U.S. central bank carries significant implications for the mortgage industry and broader housing market — a sector that he admits is already facing a restrictive monetary stance.

While his hawkish tone points to higher-for-longer mortgage rates in the near term, it also signals the potential for lower long-term rates driven by a firm commitment to the Fed’s 2% inflation target. In the interim, however, a stark reduction in forward guidance will likely translate into increased market volatility, according to industry experts.

Wednesday’s policy announcement and press conference offered a clear glimpse of the new era of communication under Warsh. The Federal Open Market Committee (FOMC)’s statement was roughly half its usual length, stripping out forward guidance and the voting roster. Meanwhile, the Summary of Economic Projections (SEP) omitted Warsh’s personal forecast — the first time a sitting Fed chair has declined to share their dot plot.

Warsh said colleagues submitted dots “with pencils” and “big erasers,” signaling low conviction and humility about forecasts. The more that markets are paying attention to what’s happening in the real economy, the more effectively they can price what they believe is most likely to occur, Warsh said. For him, when markets merely reflect Fed guidance, the Fed loses an important source of information.

“It’s a completely radical approach, and markets didn’t like it in the first moment,” said Nash Paradise, director of sales at UMortgage. “Without the crutch of the Fed’s forward guidance, we’re going to have to be more into the data — since the conflict with Iran, the data hasn’t really mattered. That puts us in position for more instability.”

Selma Hepp, chief economist at Cotality, said the forward guidance was fairly broad but provided guardrails around what the Fed was thinking. But she said this strategy could “backfire” and cause more volatility, including for mortgage rates.

“Not knowing what the Fed is thinking generally tends to bring more uncertainty, and that means you may have an uncertainty premium priced in. So it may end up leading to slightly higher mortgage rates.”

Hawkish tone across the board

Overall, economists found the Fed’s tone surprisingly hawkish. Nine policymakers anticipated rate hikes this year, eight projected no change, and only one projected a cut. Inflation projections were also revised higher than anticipated, pushing the Personal Consumption Expenditures (PCE) inflation estimate to 3.6% (up from 2.7% in March).

The market repercussions were immediate. The 2-year Treasury yield jumped roughly 13 basis points and the 10-year yield rose by 5 bps, although the 30-year yield actually dipped by 1 bps.

Despite the hawkish tone, mortgage spreads did not show a meaningful uptick. Jeana Curro, managing director and head of agency MBS research at Bank of America, described yesterday’s FOMC meeting as a “non-event to date.” But Curro added that if rate hikes formally enter the narrative, it could act as a slight negative for mortgages.

Hepp agreed: “Hawkish tone generally means more focus on bringing inflation down — and with inflation being elevated right now and throughout the remainder of this year, that would mean no rate cuts. In the long term, what does that mean? Potentially could have some benefits.”

Paradise, however, pushes back against the popular assumption that a tightening monetary cycle automatically guarantees higher mortgage rates.

“An increase in the Fed funds rate isn’t necessarily a bad thing for mortgage rates. It signals a flip that will help move some of the economic data more favorably, lowering inflation, and the markets could actually react well to that,” Paradise said.

“Mortgage rates have a lot of room to level off. Looking at where they’ve been trading, at where the 10-year yield is, a rate hike is definitely not the end of the world for mortgage rates.”

Currently, the spread between the 10-year yield and the 30-year mortgage rate sits at roughly 220 basis points, leaving plenty of room for tightening, Paradise noted.

Balance-sheet moves

Beyond interest rates, the Fed’s handling of its $1.9 trillion mortgage-backed securities (MBS) portfolio remains a massive variable for housing. Doubts remain over the central bank’s next moves, with the market divided on whether the Fed will actively sell off MBS or simply let the portfolio run off.

According to Curro, Bank of America does not expect the Fed to begin actively selling MBS, believing the market is “still a little bit too fragile” for such a move. The most likely path is continued runoff of the portfolio, with proceeds reinvested into Treasuries, echoing the strategy previously outlined by former Chair Jerome Powell.

“Early on, Warsh was well-characterized as an interest rate dove and a balance-sheet hawk, but we’ve been hesitant to assume that means anything more for mortgages than simply allowing MBS holdings to continue running off while reinvesting into Treasuries,” Curro said.

In a report published Thursday, Wells Fargo analysts said that the real question is how much confidence the market will have in model valuations if the policy regime shifts, forward guidance becomes less reliable and the Fed’s balance-sheet reaction function turns unpredictable.

“To be clear, we still think outright Fed MBS sales that leak volatility back into the market remain a low-probability outcome, but that probability has increased at the margin under the new Chair,” the analysts wrote.

New task forces

Adding another layer of structural change, Warsh also announced a sweeping overhaul of the central bank’s internal operations. This includes the creation of five new task forces to target communications, the balance sheet, data, productivity and jobs, and inflation frameworks.

“Taking a fresh look at all of these areas should ultimately make the Fed operate more efficiently and effectively over time,” said Marty Green, principal at Polunsky Beitel Green. “It will also allow the Fed to perhaps better adjust policy in an economy that may evolve more quickly as artificial intelligence has a greater impact.”  

According to Green, the task forces bring the opportunity to utilize data that may be more available in real time and to eliminate some data points that may be anachronistic but have continued to be used for historical comparison.

And while the Fed has explicitly restated its goal of reining in inflation, the task forces can now closely evaluate exactly how inflation is measured and how its various components respond to monetary policy, he added. 

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For weeks, a central question surrounding Dream Finders Homes‘ pursuit of Beazer Homes has been unambiguous:

Will Dream Finders’ offer for the company and its public relations campaign be enough to convince Beazer shareholders that a sale should occur?

A just-completed debt refinancing by Beazer Homes likely raises the cost of any acquisition of Beazer.

An ever-relevant issue is that the target companies involved in M&A transactions – whether friendly or hostile – are not static entities but continue to operate their businesses. During the process, protracted as it may be, things happen.

In a hostile transaction, a target company aims to create value for shareholders, demonstrating its case that the best path is to remain independent. In contrast, in a friendly merger and acquisition transaction, the target company continues to run the business, consistent with the expectations discussed with the buyer.

On June 15, Beazer priced $400 million of 8.0% senior unsecured notes due 2032, replacing approximately $357.3 million of its existing 5.875% senior notes due in October 2027.

The transaction appears, on its face, to be a routine corporate-finance decision. Beazer pushed a significant debt maturity five years further into the future, reducing near-term refinancing risk and strengthening its liquidity profile.

At the same time, the refinancing introduced a financial hurdle for any would-be acquirer, as most notes of this type contain “change of control” provisions that require a buyer to repay the notes upon the sale of the target company. During the first two years after issuance of notes of this type, they typically carry a make-whole provision in the event they are repaid or “called”.

According to calculations provided by a source familiar with the transaction, if the newly issued notes were repaid immediately following a change of control, the debt would carry an estimated make-whole obligation of $53.4 million.

In that scenario, a buyer would need to repay roughly $453.4 million on the $400 million note issue. That incremental cost did not exist prior to the refinancing.

In the context of the overall acquisition, this $53.4 million isn’t massive, but it isn’t peanuts, either. That is, it would likely equate to approximately 2.5-3.0% of the overall purchase. Put another way, it is the equivalent of about $2 per Beazer share.  

Again, these change-of-control provisions are standard. The wrinkle is the timing of the issuance, in the midst of this hostile takeover attempt.  Before the transaction, Beazer’s outstanding 2027 notes had already passed their call protection period and could be prepaid without penalty.

“This $53.4 million is the incremental cost that would have to be paid by a buyer in the event of an acquisition,” the source said.

Yet industry observers caution against interpreting the refinancing primarily as a takeover defense. Instead, they view it as something far more common: a company managing its balance sheet and extending debt maturities as it normally would.

Not a poison pill

Longtime homebuilding analyst Dan Oppenheim said the refinancing should be viewed first through a corporate-finance lens rather than the narrower prism of Dream Finders’ pursuit.

“This should be viewed first as Beazer being proactive in addressing a 2027 maturity, rather than as a defensive move,” Oppenheim said. “The refinancing gives the company more time and flexibility in a potentially more challenging financing environment, but that flexibility comes at a higher cost. With the higher debt expense and a slower-turning inventory environment, it also adds to the operating and financial challenges management will need to navigate as it continues to make the case for remaining independent.”

In his view, Beazer’s decision reflects the need to proactively manage its balance sheet in an environment marked by concerns about a more challenging financing market over the course of 2026 and early 2027.

Having refinanced the notes, Beazer now has additional time and flexibility to navigate whatever housing market conditions arise over the next several years.

The trade-off, of course, is cost, and the higher rate on the notes and lower inventory turnover, at a time when generating sales absorption is a challenge, may further weigh on Beazer’s results, potentially adding pressure on Beazer management and its board to look more closely at strategic options.

From a shareholder perspective, the refinancing removes a near-term capital-markets question regarding Beazer’s determination to remain independent.

From a buyer’s perspective, it creates a new expense.

Both can be true simultaneously.

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Ethereum (CRYPTO: ETH) recorded all-time highs in users, transactions and throughput during Q1, even as its market capitalization, trading activity and fee generation declined amid broader crypto market weakness.

Activity Surge, But Financial Metrics Dive

Ethereum’s network delivered record levels of usage during the quarter, with monthly active users, transaction counts and throughput reaching new highs, the Token Terminal Q1 ecosystem report stated on June 18.

ETH holder addresses rose 8.1% over prior quarter, while 25% from prior year quarter, suggesting ownership continued broadening despite the market downturn.

The growth came as ETH continued to cement its position as the leading blockchain for tokenized assets, stablecoins and on-chain financial applications.

The report highlighted several key developments during the quarter, including the rollout of …

Full story available on Benzinga.com

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Mortgage rates moved slightly lower this week as easing tensions between the United States and Iran helped calm energy markets and reduce inflation concerns.

According to Freddie Mac, the average rate on a 30-year fixed mortgage fell to 6.47% this week from 6.52% the previous week.

The decline follows a drop in Treasury yields after diplomatic progress reduced fears of prolonged disruptions in the Strait of Hormuz, a critical shipping route that carries roughly 20% of the world’s oil supply.

Mortgage rates generally track the yield on the 10-year U.S. Treasury note. When oil prices fall and inflation concerns ease, bond yields often decline as well, creating downward pressure on mortgage rates.

The recent dip offers modest relief after months of volatility. Mortgage rates climbed sharply following the outbreak of conflict with Iran earlier this year as rising energy prices fueled inflation concerns. Earlier in 2026, the average 30-year mortgage rate had fallen as low as 6.09% before moving higher again. One year ago, the average rate stood at 6.84%.

Still, housing analysts caution that significant declines are unlikely in the near term.

A day before Freddie Mac released its latest data, the Federal Reserve left interest rates unchanged and signaled inflation remains a major concern. New Fed Chair Kevin Warsh indicated policymakers could maintain elevated rates longer than previously expected, and some officials continue to see the possibility of additional tightening if inflation remains stubborn.

While the Fed does not directly set mortgage rates, investor expectations regarding future Fed policy heavily influence Treasury yields and mortgage borrowing costs.

“As rates fluctuate, aspiring buyers should remember that by shopping around for the best mortgage rate and getting multiple quotes, they can potentially save thousands,” said Sam Khater, Chief Economist at Freddie Mac.

For most homebuyers, the latest decline will have only a modest impact on monthly payments. The difference between 6.52% and 6.47% translates into relatively small savings over the life of a loan.

Housing economists generally do not expect mortgage rates to fall below 6% this year, meaning buyers waiting for dramatically cheaper financing may continue waiting.

Affordability challenges also extend beyond interest rates. The median existing-home sales price reached $429,300 in May, setting a record high for the month despite cooling prices in some regional markets.

At current borrowing costs, mortgage payments continue to consume a significant portion of household income, limiting affordability for many first-time buyers.

Despite those challenges, housing demand remains resilient. Existing-home sales rose 3.2% in May, while refinance activity has increased compared with last year as rates remain below 2025 levels.

“We have a record-high level of jobs. We should have record-high levels of home sales,” said Lawrence Yun, Chief Economist of the National Association of Realtors.

The outlook for mortgage rates now depends largely on two competing forces: lower energy prices that could reduce inflation pressures and ongoing inflation concerns that could keep interest rates elevated.

If the ceasefire and reopening of the Strait of Hormuz continue to stabilize energy markets, mortgage rates may drift lower in the months ahead. If inflation remains elevated, however, borrowers may find themselves facing mortgage rates in the mid-6% range well into next year.

For now, the recent decline is welcome news, but not a game changer for most homebuyers.

JBizNews Desk

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A panel of advisers to the Food and Drug Administration gave its endorsement Thursday to a seasonal mRNA flu vaccine that was developed by Moderna and that earlier this year became the subject of controversy when a top agency official briefly refused to even consider accepting it for review.

The Vaccines and Related Biological Products Advisory Committee — known as VRBPAC — voted unanimously that the benefits of the vaccine outweigh the risks for both adults aged 50 to 64, and those 65 and older. It remains to be seen what the FDA will decide, but staff presentations during the meeting suggested the agency sees the vaccine as having cleared sufficient hurdles to be licensed via a traditional pathway for the younger group, and an accelerated pathway for the older group. 

Multiple flu vaccines currently on the market were first licensed using an accelerated pathway, Wellington Sun, a former FDA employee, noted during the meeting’s public comment period. (After leaving FDA, Sun worked for Moderna, but he is no longer with the company.)

Continue to STAT+ to read the full story…

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Bitcoin (CRYPTO: BTC) briefly bounced to $65,000 following the Iran peace deal, but Glassnode’s weekly report shows 95% of recent buyers remain underwater, with the market still in bear territory.

Why Did The Peace Deal Bounce Bitcoin But Not Fix The Chart?

WTI crude fell from $86 to $76 in 48 hours after the June 14 peace deal, draining the geopolitical risk premium that had compressed Bitcoin for three weeks. 

Bitcoin recovered from its lows but remains 15% below the True Market Mean at $77,200, the on-chain threshold that separates bear from bull market regimes. Until price reclaims that level, the structural read stays bearish.

The Short-Term Holder MVRV, which measures whether recent buyers are in profit or loss, recovered from 0.81 to 0.90 but stays below the …

Full story available on Benzinga.com

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Bitcoin extended losses as markets reacted to a hawkish Federal Reserve stance under new Chair Kevin Warsh, boosting the U.S. dollar and weighing on risk assets.

Cryptocurrency Ticker Price
Bitcoin (CRYPTO: BTC) $63,077
Ethereum (CRYPTO: ETH) $1,712
Solana (CRYPTO: SOL) $69.75
XRP (CRYPTO: XRP) $1.14
Dogecoin (CRYPTO: DOGE) $0.08245
Shiba Inu (CRYPTO: SHIB) $0.054672

Notable Statistics:

  • Coinglass data shows 136,366 traders were liquidated in the past 24 hours for $558.38 million.       
  • SoSoValue data shows net outflows of $82.2 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ET’Fs saw net outflows of $29.4 million.
  • In the past 24 hours, top losers include Lighter, SPX6900 and Aerodrome Finance.

Notable Developments:

Full story available on Benzinga.com

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Hamas will not be permitted to veto the progress the US-backed Board of Peace is seeking to make in Gaza.

The Board of Peace is working on several tracks to advance plans for Gaza. They include plans for security and the economy.

In the near future, developments regarding Gaza are expected, a person familiar with the diplomatic efforts told The Jerusalem Post.

It is not known whether Hamas will cooperate and agree to decommission its weapons, but it will not have veto power over the next steps, the source said.

“Hamas doesn’t call the shots,” the source added, and it controls less of Gaza than it did in the past.

On Thursday, the Board of Peace, which was created in the wake of the US-backed Gaza ceasefire deal, reported about new progress regarding Gaza.

What is happening with the second phase of the Gaza ceasefire?

Kosovo Ambassador to Israel Ines Demiri visited the Life Support Area Endurance on the Gazan border, which the Board of Peace said would “serve as a vital waypoint for ISF [International Stabilization Force] to refit while supporting restoration and humanitarian efforts.”

The ISF is supposed to deploy to Gaza. Kosovo is one of the countries that has contributed to the ISF.

The post by the Board of Peace is another signal that the Gaza plan is slowly moving forward. It has not been in the limelight recently.

Together with Kosovo Security Forces officers from the ISF team, Demiri said she had “visited their base to learn more about their important work. Their service and dedication reflect Kosovo’s steadfast commitment to supporting international peace, security, & stabilization efforts,” she wrote on X/Twitter

Meanwhile, there are potential positive signs from recent Gaza talks, London-based newspaper Asharq Al-Awsat reported. A source from the team of Board of Peace envoy Nickolay Mladenov and another from Hamas said there were “positive” signs regarding the ceasefire in Gaza, the report said.

“The two sources spoke separately to Asharq Al-Awsat about the mood around meetings Mladenov held in Cairo with a Hamas delegation and representatives of the mediator states, Egypt, Qatar, and Turkiye [sic],” it added.

Asharq Al-Awsat reported on a recent meeting with Hamas and the desire to bridge gaps in the road map.

“According to the same source, the Hamas delegation met Mladenov in Cairo on Wednesday afternoon to explain the importance of the amendments made to the road map and try to speed up the movement’s response,” the report said. “The source said the amendments would be discussed with the Palestinian factions before a reply is given.”

Hamas control in Gaza

On June 5, a Hamas delegation arrived in Cairo for talks about advancing the ceasefire. There are concerns that plans in Gaza could stall if Hamas does not disarm.

Hamas controls about 40% of Gaza. It appears that Gaza’s two million civilians continue to be forced to live under Hamas control, with few options to leave the Hamas-run area.

The goal of the Gaza plan that the Trump administration secured last October and November, however, is that the Gazans will have new options to be free from Hamas.

The issue of Gaza has been relatively quiet lately, as the region has focused on the Iran conflict. The Trump administration pushed hard for a ceasefire and hostage deal in 2025.

THE DEAL came into view in September, and by October, there was a ceasefire, and all the remaining hostages returned to Israel. The US also received UN support for the plan.

The Board of Peace took shape in January and had its inaugural meeting on February 19. The Iran war began on February 28; however, since then, issues in Gaza have largely not been in the spotlight.

Nevertheless, there has been progress. US Central Command helped set up the Civil-Military Coordination Center (CMCC) in Kiryat Gat last October.

The ISF is also slowly taking shape. A team of soldiers from Kosovo and Albania conducted an evaluation of their role in the ISF in April. It appears that Morocco and Kazakhstan will also participate. Indonesia has said it is reviewing its role. Four other countries are considering contributing to the ISF.

The coming weeks are expected to have more active discussions. A key issue is how to get the Palestinian National Committee for the Administration of Gaza (NCAG) involved in Gaza alongside the ISF and also the training of Palestinian police.

The goal is to create an area where civilians can live free of Hamas. This also means ramping up goods and services to create a better alternative, the source familiar with and involved in the diplomatic efforts told the Post. This will mean enabling people to live free from the oppression of Hamas.

Hamas will need to agree to lay down its arms. The Board of Peace does not want to be stopped by Hamas refusing to disarm.

The new Life Support Area near Kerem Shalom, cited by the board and the Kosovo ambassador, is an example of the progress. Economically, there are also a range of programs being planned, the source said.

There are many questions about what might come next. Could the ISF secure certain pockets in Gaza and enable the NCAG to play a role? Would it be in the areas between the IDF-controlled Yellow Line and the areas Hamas controls.

As the Hamas-run area shrinks, there are areas that are in limbo. These could be seen as orange areas.

It appears that many things are in motion, and plans are in the air. The timeline is still unclear, but it’s plausible that new details will emerge in the coming days and weeks.

US President Donald Trump recently met Egyptian President Abdel Fattah al-Sisi on the sidelines of the G7. This is important and could influence progress in Gaza.

In addition, it appears that the White House is preparing to welcome Arab leaders and officials within the next month. This includes US outreach to Syria, Iraq, Lebanon, and possibly the Palestinian Authority.

With the Iran memorandum of understanding signed and a ceasefire in Lebanon, it could mean Gaza will be in the spotlight in late June and July. This will also mean engagement with Turkey, Qatar, and Egypt.

Challenges remain. How will Hamas disarmament be measured? How many small arms does Hamas have? Hamas will likely try to wriggle out of handing them over. Can certain areas be designated as disarmed initially?

Ultimately, Trump’s 20-point plan, which is backed by UN Security Council Resolution 2803, is the benchmark, the source said, and Hamas will need to lay down its weapons.

The Board of Peace is not going to wait around while Hamas stalls or sets new conditions for its disarmament. It is working to prepare for governance, stabilization, and reconstruction, the source said.

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U.S. stocks closed higher on Thursday, June 18, recovering much of the previous day’s losses after Federal Reserve Chair Kevin Warsh rattled markets by signaling interest rates could rise this year. Semiconductors led the rebound, with Intel surging after President Donald Trump said the company would design and build chips in the United States alongside Apple.

The Nasdaq 100 led the major indexes, climbing about 2.4%, while the S&P 500 gained roughly 0.9%. The Dow Jones Industrial Average finished little changed but remained near record territory after giving back an earlier gain of more than 300 points. Trading remained volatile into the close as investors navigated quarterly “triple witching” options expiration ahead of Friday’s Juneteenth market holiday.

The rebound followed a sharp selloff Wednesday after Warsh’s first Federal Reserve meeting as chair. The Dow lost more than 500 points and the S&P 500 fell 1.2% after the Fed’s updated projections showed nine of 18 policymakers now expect at least one rate increase in 2026. Warsh emphasized the Fed’s commitment to “price stability,” a message markets interpreted as notably hawkish.

Thursday’s tone was far more optimistic.

Intel jumped roughly 10% on the Trump-Apple announcement. Micron Technology climbed about 8% ahead of earnings due June 24. Nvidia gained around 2%, while Advanced Micro Devices and Broadcom each advanced more than 4% as investors returned to AI-related semiconductor names.

Market Movers

Among Dow components, the biggest gainers included:

  • Caterpillar: +3.7%
  • Home Depot: +2.8%
  • 3M: +1.7%

The weakest performers were:

  • IBM: -5%
  • Salesforce: -2.7%
  • Chevron: -2.2%

Kroger suffered its worst trading session in nearly five years after narrowly missing Wall Street earnings expectations, highlighting continued pressure on consumer-focused retailers.

Analysts remained particularly bullish on memory-chip producers. TD Cowen analyst Krish Sankar reiterated a Buy rating on Micron and raised his price target to $1,500, citing robust demand for AI-related high-bandwidth memory. RBC Capital Markets increased its target to $1,200, while Aletheia Capital boosted its target to $1,600.

Meanwhile, Gene Munster of Deepwater Asset Management argued that planned Apple price increases reflect rising memory costs, suggesting consumers may soon see higher prices for electronic devices. Not all strategists agreed with the rally. UBS trading desks advised clients to “reduce risk meaningfully” in technology stocks following the sector’s powerful run this year.

Oil Falls, Volatility Eases

Oil prices declined after President Trump signed an interim agreement with Iran aimed at lowering energy costs. Improving navigation through the Strait of Hormuz and expectations for a broader agreement Friday helped ease supply concerns.

The drop in crude prices reduced pressure on gasoline costs heading into the summer driving season. Treasury yields, which surged Wednesday following the Fed meeting, stabilized Thursday.

With markets closed Friday for Juneteenth, investors now look ahead to next week. Key events include earnings from Micron and FedEx, along with the government’s updated first-quarter GDP report and May PCE inflation data, the Federal Reserve’s preferred inflation measure.

Those reports could determine whether Warsh’s warning about possible future rate hikes becomes the market’s next major concern.

JBizNews Desk
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US President Donald Trump has insisted that the deal he has reached with Iran is superior to the one that president Barack Obama sealed in 2015, while Trump’s critics say at this point he has gotten much less and given up much more to Tehran.

The two agreements are very different.

The “memorandum of understanding” that Trump signed with Iran is not a final agreement but a one-and-a-half-page, 14-point framework negotiated on and off over several weeks.

It has launched a 60-day negotiation period to seek a full settlement of the nearly four-month war, with many hurdles yet to overcome on issues that include Iran’s nuclear program, sanctions relief, and the future of the Strait of Hormuz.

Obama’s pact was a finished, detailed document titled the Joint Comprehensive Plan of Action (JCPOA) that extended to more than 160 pages. It was narrowly focused on restricting Iran’s nuclear activities, with strict benchmarks. Trump, who condemned the Obama-era deal as “horrible”, scrapped it in 2018.

Trump’s approach has been bilateral, between the US and Iran. Obama brought China, France, Germany, Russia, Britain, and the European Union into negotiations that lasted about two years.

What is the difference between Trump and Obama’s Iran deals?

Both deals involve a written commitment by Iran never to seek a nuclear weapon. Trump – who declared the nuclear threat his main reason for going to war – has insisted, incorrectly, that Tehran had never done so before.

Obama’s deal placed tight limits on Iran’s efforts to produce weapons-grade uranium, aimed at extending the “breakout” time it would need to produce a bomb. The US government said Tehran had complied until Trump withdrew from the JCPOA.

Nuclear issue

Trump’s interim deal outlines only a general path toward curbing Iran’s nuclear activities, with no specific commitments from Tehran other than to discuss nuclear issues in the 60-day window.

It suggests Iran’s willingness to resolve a dispute over its near-bomb-grade uranium stockpile, including the possibility of “down blending” onsite under supervision by the International Atomic Energy Agency, the U.N. nuclear watchdog, but leaves that decision for a final deal.

The JCPOA involved extensive international inspection, but the MOU does not call for any future reinstatement of that process.

Iranian economy and sanctions relief

Both deals involve sanctions relief and unfreezing of assets, which Iran is now even more anxious to receive to boost its crippled economy, but in very different ways.

Obama eased some sanctions early on, but only after a comprehensive settlement was signed, and then phased in further relief based on verified steps by Iran.

Trump’s memorandum front-loads initial relief, including immediate US waivers for Iran to export oil, while leaving a final package to be negotiated later.

It also opens the door to releasing billions of dollars in frozen funds, and it is unclear when that might happen.

Another provision calls for the US and Middle Eastern allies to establish a $300 billion fund for Iran’s economic development, but it is vague about the conditions and timetable.

This has drawn criticism from Iran hawks within Trump’s own Republican Party that he is making too many concessions.

Trump has berated Obama for years over the Democratic president’s return to Tehran of $1.7 billion in proceeds from arms sales frozen since 1981.

But Trump, who has made clear his disdain for any comparison between his deal and Obama’s, now stands to provide Iran with many times more funds.

The JCPOA dealt only with nuclear issues, a deliberate choice by the Obama administration, which calculated that bundling in other regional concerns would make a final deal impossible.

The MOU, however, is the diplomatic starting point for permanently ending a war that Trump launched with Israel on February 28, and which has sent shockwaves across the world economy.

As a result, one of its main thrusts is an agreement to reopen the Strait of Hormuz, a critical oil-shipping channel which Iran effectively closed. Iran has insisted it retain a management role over the strait that it lacked pre-war, and that could be a sticking point in negotiations.

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On this week’s episode of “The Readout LOUD”: New hope for people living with Huntington’s disease, and a report card on RFK Jr.’s effort to remake health in America. 

The Food and Drug Administration reversed its opposition to a closely watched gene therapy for Huntington’s disease, clearing a path for its maker, the biotech company UniQure, to file for U.S. approval. Joining us to discuss this new development and what it means for the Huntington’s community is Lauren Holder, a Huntington’s disease advocate who is living with the early stages of the disease. 

Read the rest…

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Making good on its threat, Eli Lilly has begun eliminating mandated price breaks to a few dozen hospitals that participate in a federal drug discount program after failing to receive comprehensive claims data.

The move comes after the company warned earlier this month it would take such a step as part of a policy announced in January in order to reduce what it calls duplicate discounts paid to the hospitals. Trade groups representing hospitals, however, argue the move is unlawful and want Congress to intervene.

At the time, Lilly maintained that more than 2,300 hospitals had complied with its demand, but some larger hospitals systems around the U.S. refused to do so, despite recent follow-up letters regarding the policy, which went into effect Feb. 1. Up to 1,000 had so far not complied, and Lilly indicated it was pressing about 50 larger hospitals to provide data.

Continue to STAT+ to read the full story…

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For decades, manufactured housing has excelled at producing lower-cost homes.

What it has struggled to do is go vertical.

Fact is, America’s most severe housing shortages are no longer in places where inexpensive land is abundant. They’re in high-cost metropolitan markets where making housing pencil often requires more homes on less land. That makes manufactured housing’s challenge – up to now – to develop and build multi-level homes everybody’s challenge.

A proposed rule from the U.S. Department of Housing and Urban Development (HUD) could help change that equation.

The proposal would expand the definition of a manufactured home and allow upper-level sections of multi-story manufactured housing to be transported and assembled without a permanent chassis — a technical change that industry leaders say could unlock new forms of higher-density housing, reduce construction costs and make manufactured housing more viable in expensive, land-constrained markets.

For developers working in places such as California’s Bay Area, where land costs and labor shortages can make conventional construction difficult to justify, the proposal represents more than a regulatory update.

It could effectively remove one of the industry’s most persistent design and engineering obstacles.

“This rule change…opens up more design flexibility. It opens up more innovation potential. It reduces some of the vertical construction cost, and that may mean that some of these sites that maybe aren’t even economical for site-built construction, because labor is so expensive and scarce, can make sense to build with a two-story manufactured home with no chassis under the upper level,” said Sean Roberts, CEO of manufactured housing developer Villa and a member of HUD’s Manufactured Housing Consensus Committee.

“That opens up opportunities to develop more housing in these locations where it’s really, really needed, and that’s a good thing.”

A rule aimed at the next generation of manufactured housing

Last week’s proposal is designed to encourage more multi-story manufactured housing construction.

Specifically, HUD would permit upper-level sections of manufactured homes to be transported and assembled without a permanent chassis. The proposal complements language in the 21st Century ROAD to Housing Act that would remove the permanent chassis requirement for the first floor of manufactured homes.

Roberts told HousingWire TBD that while two-story manufactured homes are certainly possible under current regulations, they have become less common because of the design complications and costs associated with permanent chassis requirements.

For developers operating in high-cost states such as California and Colorado, where Villa is active, the implications could be significant.

“The only way to get a project in many of those places to make sense economically is to be more land-efficient, which means to build more per square foot of land, and the way you do that is by going vertical,” Roberts said.

Why the chassis matters

The challenge with requiring upper-level sections to include a permanent chassis is not simply the additional cost.

Roberts estimates the requirement can add between $5,000 and $10,000 to a typical home. More importantly, he said, it forces designers and engineers to work around structural steel framing when locating stairs and routing mechanical, electrical and plumbing systems.

Builders often must cut stair openings into the chassis and weld components together in ways that are considerably more complicated than conventional framing methods.

Removing the upper-level chassis would allow second stories to be designed more like traditional upper floors, with more precise ceiling heights, improved stair placement and more efficient overall layouts.

Lesli Gooch, CEO of the Manufactured Housing Institute, said in a statement that the organization strongly supports the proposal.

“From a construction standpoint, eliminating the fixed steel frame from the upper floors removes major design barriers. Enhanced design flexibility, reduced unnecessary costs and material waste, and expanded options for today’s homeowners can all become a reality with this change,” Gooch said.

The proposal also builds on a 2024 HUD update to manufactured housing construction and safety standards that permits up to four dwelling units within a single manufactured housing structure.

“What this all means is you can have much more efficient and innovative two-story single-family homes, duplexes, triplexes, and it opens up a totally new type of way of thinking about manufactured homes, which is really, really exciting, because of the cost efficiencies of building this way,” Roberts said.

From rural housing solution to urban housing tool?

More than half of all manufactured homes today are located in rural areas, where land is relatively abundant and housing costs are lower.

Industry leaders believe that could change if federal rules make multi-story designs easier and less expensive to build.

Villa is currently working on a project in Santa Rosa, California, where several two-story manufactured homes may be incorporated into the community. Roberts said the proposed rule would make projects like that easier to execute and more economically feasible.

Others in the industry see similar potential.

During Cavco Industries‘ Q4 2025 earnings call in May, President and CEO William Boor argued that broader removal of chassis requirements could dramatically expand manufactured housing’s relevance in urban and suburban markets.

“A lot of the innovation that could take place…if you think about those kinds of opportunities, you start to see the opportunity for product innovation for urban and suburban markets, and that opens up a whole new market opportunity for this industry,” Boor said.

Roberts believes another regulatory barrier may eventually warrant review as well. Current HUD Code requirements mandate that at least one exterior exit door be accessible from each bedroom without traveling more than 35 feet.

While that standard works well for single-story homes, Roberts said it becomes significantly more restrictive in multi-story designs where stairways consume much of the allowable travel distance.

If HUD wants to fully unlock multi-story manufactured housing, he argues, that requirement could become the next area for reform.

The local approval challenge

Even if HUD finalizes the proposal, its ultimate impact will depend heavily on what happens at the state and local level.

Manufactured housing has gained increasing acceptance among policymakers seeking solutions to housing shortages and affordability challenges.

Since 2021, lawmakers in 10 states have enacted laws requiring local governments to allow manufactured and modular housing by right in single-family zones as part of broader housing legislation. Florida, Idaho and Virginia joined that list this year.

States have also begun modernizing financing rules. New York, for example, last year enacted legislation allowing eligible manufactured homes that are permanently affixed to land and connected to utilities to be classified as real property rather than personal property, potentially giving buyers access to conventional, GSE-backed mortgages.

Gene Kim, executive vice president of commercial real estate at Ascent Developer Solutions, said modern manufactured housing communities increasingly resemble traditional residential neighborhoods.

Removing chassis requirements altogether would only accelerate that trend.

“It’s cheaper, and you now have better designs and better quality communities. So, the distinction between site-built and manufactured housing communities is going to get even thinner,” Kim said.

Local governments still retain authority over design and architectural standards. But those standards for manufactured housing cannot exceed those imposed on site-built homes.

That reality could become increasingly important if HUD eventually removes chassis requirements altogether.

“If ‘chassis’ is removed outright from HUD’s definition, it will force states to revise their own laws, as most state laws rely on the HUD definition,” the draft notes.

Randy Grumbine, executive director of the Virginia Manufactured and Modular Housing Association, said the change would ripple through numerous sections of state code.

“It’s pretty involved to make the change and clean up,” Grumbine said. “It’s in sections you don’t realize until you start looking.”

Whether those legal and regulatory changes ultimately bring manufactured housing into more traditional suburban neighborhoods remains uncertain.

Grumbine cautioned that adoption will take time.

“But within the next five years, sales could rise as we see more adoption,” he said. “We need more developers coming to Virginia and doing subdivisions to show what’s possible when done right,” with such features as curbs, landscaping and gutters.

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Exchange-traded funds (ETFs) are great investment vehicles for gaining instant exposure to different sectors at prices often lower than those of some of the ETF’s top stock holdings.

For example, Space Exploration Technologies, or SpaceX, closed its first day of trading at just under $161. But the Tema Space Innovators ETF, which holds SpaceX and other space-related investments, is trading below $35 per share.

That said, with so many different options to choose from, there’s one key question to consider before adding the first ETF into any portfolio.

The question to answer before buying an ETF is, “What role is this ETF going to serve in my portfolio?”

5 SIMPLE ETFS TO BUY WITH $500 AND HOLD FOR A LIFETIME

For example, an investor may want to generate more income. With that goal in mind, one investment to consider is the Schwab U.S. Dividend Equity ETF, which tracks U.S. companies with high dividend yields. That ETF pays a dividend that yields above 3%. For investors seeking greater access to theme-based investing with higher price appreciation potential, there are ETFs focused on sectors like artificial intelligence (AI).

COULD THE VANGUARD S&P 500 ETF BE YOUR TICKET TO BECOMING A STOCK MARKET MILLIONAIRE?

When it comes to the very first ETF to add to a portfolio, however, the Vanguard Total Stock Market ETF offers a strong starting point. Its investment philosophy is straightforward and has helped investors build long-term wealth.

The Vanguard Total Stock Market ETF is designed to track the CRSP U.S. Market index, which represents 100% of the investable U.S. stock market. Its holdings include large-, mid-, and small-cap stocks, with those holdings totaling nearly 3,500. Nvidia is the top holding, with a portfolio weight of 6.6%.

1 UNDER-THE-RADAR ETF TO INVEST $1,000 IN RIGHT NOW THAT’S OUTPERFORMING MAJOR INDEXES THIS YEAR

It’s a tech-heavy ETF, however, so this may not be a fit for investors who already have heavy exposure to tech stocks. Still, this ETF offers massive diversification, a history of steady returns, and a dividend payout. As of May 31, the Vanguard Total Stock Market ETF is up over 308% over the last 10 years, and its dividend yield is 1%, boosting that total return potential.

Jack Delaney has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy.

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Government regulations now add roughly $132,000 to the cost of a typical newly built home, according to a new study from the National Association of Home Builders (NAHB), as industry leaders warn that mounting costs are worsening the nation’s housing affordability challenges.

The NAHB study found that regulations imposed by federal, state and local governments account for 26.4% of the final price of a new single-family home. Applied to the average sales price of a new home in January, the regulatory burden totals approximately $131,734 per house.

The estimate is based on Census Bureau data showing the average sales price of a newly built home sold in January was $499,500.

The report comes as housing affordability remains a challenge for many Americans amid elevated mortgage rates and persistently high home prices. 

KEVIN WARSH’S FIRST FED PRESS CONFERENCE LOOMS AS INFLATION SURGE MAKES RATE CUTS INCREASINGLY UNLIKELY

NAHB’s analysis found regulatory costs have increased sharply in recent years. The group estimated that regulations added $93,870 to the cost of a new home in 2021, compared with $131,734 today – an increase of roughly 40% over five years.

Among the various regulatory costs examined in the report, changes to building codes over the past decade represented the largest burden. NAHB estimated those changes add approximately $40,288 to the cost of a typical newly built home.

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The study also found that builders face costs associated with zoning approvals, permit and inspection fees, environmental and traffic studies, land-use requirements, labor regulations and delays in obtaining approvals.

“Costly and inefficient regulatory policy is clearly impeding the ability of builders to increase the housing supply,” NAHB Chief Economist Robert Dietz said in a statement. “According to a new NAHB study, government regulation, taxes, fees and other costs add more than 26% to the price of an average single-family home. Easing permitting bottlenecks, density limits and inefficient zoning rules would help reduce costs and support the housing growth the nation needs.”

According to the report, 94.2% of developers surveyed said regulations typically cause project delays, while 88.2% reported facing development standards that go beyond what they would ordinarily build.

NAHB Chairman Bill Owens said the nation remains short roughly 1.2 million homes and argued that reducing barriers to construction could help boost housing supply.

“With the nation short about 1.2 million homes, builder sentiment will remain soft until barriers are eased and conditions improve for home building,” Owens said in a statement released alongside the latest NAHB/Wells Fargo Housing Market Index.

Builder confidence remains subdued. The latest NAHB/Wells Fargo Housing Market Index showed builder sentiment fell to 35 in June, marking the 14th consecutive month below 40. The survey also found that 35% of builders cut prices in June, while 62% offered sales incentives to attract buyers.

The NAHB study was based on surveys of 54 land developers and 337 single-family builders conducted in March. Researchers combined the survey responses with Census Bureau housing data and other industry cost assumptions to estimate the aggregate impact of regulations on home prices.

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The report noted that it does not argue all regulations should be eliminated, but said quantifying their cost is important as policymakers consider ways to improve housing affordability and increase homebuilding nationwide.

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Bitcoin fell below $64,000 on Thursday as investors reacted to a more hawkish Federal Reserve and growing concerns surrounding Strategy, the company formerly known as MicroStrategy and the world’s largest corporate holder of Bitcoin.

The cryptocurrency was trading near $63,800, down about 1% over the previous 24 hours, after briefly climbing toward $67,000 earlier in the week. That rally had been fueled by optimism surrounding a developing agreement between the United States and Iran aimed at ending hostilities and reopening the Strait of Hormuz, easing concerns about inflation and energy prices.

The mood changed sharply following Wednesday’s Federal Reserve meeting, the first chaired by Kevin Warsh. While policymakers left interest rates unchanged, they signaled that rates may remain elevated longer than expected and could even move higher before year-end.

The Fed’s updated projections showed the median policymaker expects the benchmark federal funds rate to finish 2026 at 3.8%, up from 3.4% projected in March. Nine of the eighteen officials who submitted forecasts now expect at least one additional rate increase before the end of the year.

Higher interest rates generally weigh on speculative assets because they increase returns on safer investments and reduce demand for assets that generate no income. Bitcoin, which pays no yield, often struggles when investors expect tighter monetary policy.

Investors responded by pulling money from cryptocurrency investment products. Spot Bitcoin and Ethereum exchange-traded funds recorded approximately $111 million in net outflows following the Fed announcement.

A second source of concern is Strategy, led by executive chairman Michael Saylor, which owns approximately 846,842 Bitcoin, more than any other publicly traded company.

Shares of MSTR fell roughly 5% on Wednesday and extended losses Thursday as investors questioned the company’s ability to continue financing its aggressive Bitcoin acquisition strategy.

Particular attention has focused on the company’s preferred-share offerings. One series, known as STRC, recently traded around $89, well below its $100 face value. When preferred shares trade below par value, raising new capital becomes more difficult and more expensive.

Analysts at QCP Capital have warned that if financing conditions deteriorate further, Strategy could eventually face pressure to sell portions of its Bitcoin holdings to meet dividend obligations and other funding needs.

Those concerns intensified after Strategy disclosed in late May that it had sold 32 Bitcoin for approximately $2.5 million. While small relative to its overall holdings, the sale marked the first time the company had sold Bitcoin after years of promoting a “never sell” philosophy.

The move sparked debate among investors who viewed Strategy’s Bitcoin reserves as effectively untouchable.

Saylor has pushed back on those concerns, arguing that the company’s long-term commitment to Bitcoin remains unchanged. On Thursday, he reiterated that message by publicly highlighting Strategy’s holding of 846,842 Bitcoin and emphasizing the firm’s continued confidence in the asset.

Additional pressure has come from shifting investor attention toward new opportunities elsewhere in the market. The recent public debut of SpaceX, which disclosed holding 18,712 Bitcoin, has attracted significant investor interest and added competition for capital flowing into crypto-related investments.

Market sentiment has also weakened. The widely followed Crypto Fear & Greed Index recently fell into “extreme fear” territory, reflecting growing caution among traders. Bitcoin briefly touched a 2026 low near $59,100 last week before recovering.

Analysts now view $60,000 as a critical support level. A successful defense of that level could stabilize prices and encourage buyers to return. A decisive break below it, however, could open the door to additional declines toward $57,500 or lower.

Gerry O’Shea, head of global market insights at Hashdex, said he expects Bitcoin to trade largely between $60,000 and $70,000 in the near term unless a major catalyst emerges.

The next major driver remains inflation and Federal Reserve policy. If inflation cools and expectations for future rate hikes fade, pressure on both Bitcoin and Strategy could ease. If inflation remains elevated and the Fed signals additional tightening, cryptocurrency markets may face further headwinds.

For now, a market that spent much of the spring chasing record highs is increasingly focused on defense, with traders watching closely to see whether $60,000 can hold.

JBizNews Desk

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Valar Atomics, a Southern California nuclear startup, said Thursday that its Ward 250 reactor has reached criticality, becoming the second reactor to hit that milestone under the federal program designed to accelerate advanced nuclear development in the United States. The achievement marks the first self-sustaining nuclear chain reaction inside the reactor and represents a key step toward proving the technology can eventually generate commercial power.

The reactor reached criticality at the Utah San Rafael Energy Lab, a state-run research facility where Valar has been racing to meet a federal goal of bringing multiple advanced reactors online before July 4, 2026. Ward 250 is a high-temperature gas-cooled reactor that uses TRISO fuel, helium coolant, and a graphite-based core design. The project was built with engineering and construction support from Kiewit Nuclear Solutions.

Valar becomes the second company to reach the milestone under President Donald Trump’s Reactor Pilot Program. Earlier this month, Antares Nuclear’s Mark-0 microreactor became the first privately developed non-light-water reactor in the United States to achieve criticality in more than four decades at Idaho National Laboratory. With Valar now joining the list, the federal initiative is only one reactor away from reaching its target of three critical reactors before Independence Day.

Criticality is an important milestone, but it does not mean the reactor is producing meaningful power. During these early tests, reactors are brought to a self-sustaining nuclear reaction at extremely low power levels to verify the design and operating characteristics. Commercial electricity generation remains years away.

As American Nuclear Society President Mark Peters has noted, criticality is “a starting line, not a finish line.” Significant testing, safety validation, and regulatory reviews still lie ahead before reactors like Ward 250 can enter commercial service.

The milestone follows months of rapid development. In November 2025, Valar conducted a successful cold-criticality test using a scaled reactor assembly known as NOVA at Los Alamos National Laboratory. The test helped validate the physics underlying the Ward 250 design before construction of the full reactor.

The company drew national attention again in February when the completed reactor was transported from California to Utah aboard U.S. Air Force C-17 cargo aircraft in what officials described as a first-of-its-kind military-assisted reactor airlift. Energy Secretary Chris Wright accompanied the transport effort and has repeatedly highlighted advanced nuclear energy as a cornerstone of future U.S. energy policy.

The race to bring reactors online is being driven largely by the exploding energy needs of artificial intelligence and data centers. AI companies are rapidly building facilities that require enormous amounts of around-the-clock electricity, creating concerns that existing power infrastructure may struggle to keep pace.

Valar argues that advanced nuclear reactors offer one of the few scalable solutions capable of supplying reliable carbon-free electricity regardless of weather conditions. The company estimates that AI-related growth could require more than 200 terawatt-hours of additional power by 2030.

Beyond supplying electricity to the grid, Valar sees opportunities in industrial applications. High-temperature reactors can generate heat for manufacturing processes, support hydrogen production, and potentially create synthetic fuels using captured carbon dioxide. The company believes those industrial uses could help finance broader deployment of advanced nuclear technology.

Valar’s long-term vision includes what it calls “gigasites” — large industrial campuses powered by clusters of small reactors supplying energy directly to manufacturers, data centers, and other major customers without relying entirely on the public grid.

The program itself remains controversial. The Reactor Pilot Program was established through a presidential executive order in May 2025 and allows participating companies to use the Department of Energy’s authorization process rather than the traditional Nuclear Regulatory Commission licensing pathway during early testing stages.

Supporters argue the approach is necessary to speed innovation and maintain U.S. leadership in nuclear technology. Critics, including Edwin Lyman of the Union of Concerned Scientists, have warned that bypassing portions of the conventional NRC process could create safety risks if not carefully managed.

National security officials have also shown growing interest in microreactors. Small reactors could provide reliable power to military bases, remote installations, and critical infrastructure that might otherwise depend on vulnerable electric grids or fuel deliveries.

For consumers, the implications remain indirect for now. If advanced reactors can eventually be built quickly and at scale, they could help relieve electricity shortages, support the growth of AI infrastructure, stabilize industrial energy costs, and reduce pressure on power prices in fast-growing regions.

Valar says it plans to continue higher-power testing throughout the remainder of 2026 and hopes to begin limited commercial operations in 2027 before expanding further in 2028.

For now, the company has cleared one of the industry’s most important technical hurdles. Whether Ward 250 becomes part of a broader nuclear revival will depend on what happens next as testing advances from proving the reactor works to proving it can safely and economically deliver power.

JBizNews Desk
Washington Bureau
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JetBlue Airways told employees Wednesday that it will close its flight attendant base at Newark Liberty International Airport and shut technical operations bases at both Newark and LaGuardia Airport this fall as the airline shifts aircraft and resources away from the New York region and doubles down on growth in Fort Lauderdale, Florida.

The carrier emphasized that the move will not result in layoffs. Employees affected by the closures will have opportunities to transfer or bid into other JetBlue bases.

The decision comes down to economics. JetBlue has repeatedly highlighted the high cost of operating in the New York market, particularly at LaGuardia, where an approximately $8 billion airport redevelopment project has increased expenses for airlines. Rather than continue investing heavily in some of the country’s most expensive airports, JetBlue is redirecting resources toward a market where it already sees stronger profitability.

That market is Fort Lauderdale-Hollywood International Airport, where JetBlue has become the airport’s largest carrier. Earlier Wednesday, the airline announced plans to expand its premium Mint service from Fort Lauderdale, adding new coast-to-coast routes aimed at higher-paying travelers.

A new daily Fort Lauderdale-to-San Diego flight will begin on November 19, while additional Mint service is planned for Los Angeles and San Francisco. By the winter travel season, JetBlue expects to operate as many as eight daily flights between Fort Lauderdale and Los Angeles and three daily flights to San Francisco.

The financial incentive is significant. Premium Mint fares can generate many times the revenue of traditional economy seats. For example, one-way Mint tickets between Fort Lauderdale and Los Angeles for January travel were selling for more than $3,000, with some fares exceeding $4,500, while basic economy seats on the same route were available for less than $250.

JetBlue’s opportunity in South Florida expanded dramatically after the collapse of Spirit Airlines on May 2. Spirit, long one of the dominant carriers in Fort Lauderdale, ceased operations following its second bankruptcy after creditors rejected a last-minute rescue effort. The shutdown left valuable airport gates, routes, and customers available, creating an opening that JetBlue has moved quickly to fill.

The changes in the New York market extend beyond employee bases. JetBlue is winding down seasonal service from Newark to both Los Angeles and Las Vegas. The airline already discontinued its twice-daily Newark-to-Las Vegas service on June 10, eliminating more than 13,000 monthly seats, while Newark-to-Los Angeles flights are scheduled to end early next year.

Aircraft freed from those routes will be redeployed to support the airline’s Florida expansion, including the return of Fort Lauderdale-to-San Diego service, which JetBlue last operated in January 2025.

While Newark and LaGuardia remain important parts of JetBlue’s network, they are not the center of its New York presence. At the end of 2025, JetBlue controlled roughly 13% of airline seats across the New York metropolitan area’s five major airports, but the vast majority of that presence was concentrated at John F. Kennedy International Airport.

JetBlue carried approximately 14.5 million passengers through JFK in 2025, accounting for more than 23% of the airport’s total traffic. By comparison, the airline carried about 1.9 million passengers through Newark and 1.1 million through LaGuardia, representing just 4% and 3.4% of passenger traffic at those airports respectively.

Company executives acknowledged that the Newark pullback raises questions about JetBlue’s future ambitions at LaGuardia, particularly as airport slots may become available following Spirit’s departure. However, management said opportunities from a future slot auction remain uncertain and cannot be factored into current operating plans.

The strategy reflects a broader effort to restore consistent profitability. JetBlue’s last profitable quarter came nearly two years ago, and company leadership has repeatedly identified Fort Lauderdale as a key pillar of its turnaround strategy. Under Chief Executive Officer Joanna Geraghty and President Marty St. George, the airline has spent the past several years trimming underperforming routes, slowing hiring, reducing capacity, and adjusting fares to offset higher operating costs.

For travelers, the message is straightforward. Passengers in northern New Jersey and Queens will likely see fewer JetBlue options this fall, while travelers in South Florida can expect more flights, more destinations, and a larger selection of the airline’s premium Mint service as JetBlue places a bigger bet on Fort Lauderdale.

JBizNews Desk
New York

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CNN political commentator and civil rights advocate Van Jones said on Wednesday humanity has a “special responsibility” to defend the Jewish people as the Genesis Prize Foundation announced his appointment to its advisory board.

In a video shared by the foundation, Jones framed the Jewish people as one of the world’s smallest and most vulnerable minorities, arguing that Israel must be understood against the backdrop of Jewish history, persecution, and the Holocaust.

“There’s only 15 million Jews left in the whole world,” Jones said in the video. “Only 15 million left.”

He compared the size of the global Jewish population to the world’s much larger religious, ethnic, and national communities, including Chinese, Indians, Africans, Catholics, and Muslims. Jones said the Jewish population would have been “massively bigger” without the Holocaust and “centuries of violence” that preceded it.

Jones also stressed that Israel is home to roughly half of the world’s Jews and described the Jewish state as “the tiniest little place in the world.”

“That’s where half of the remaining Jews in the world are clinging to their existence,” he said. “And when that group comes under attack, humanity has a special responsibility to defend them.”

Jones said criticism of Israeli governments and policies is legitimate, including criticism of political, economic, and military decisions. He then warned against calls for the West to abandon Israel.

“We already ran a 3,000-year experiment where Jews did not have a state, and it ended with Hitler’s hell,” Jones said. “We are not going to run an experiment again.”

Jones joins ‘Jewish Nobel’ board, to focus on Black-Jewish alliance

The Genesis Prize Foundation announced Wednesday that Jones had joined its advisory board, saying he would work with fellow board members to advance the mission of the Genesis Prize, often referred to as the “Jewish Nobel.”

The foundation said Jones would focus in particular on renewing the Black-Jewish civic alliance in America and broadening public engagement against antisemitism, racism, and polarization.

Jones, a Yale Law School graduate, is a civil rights advocate, attorney, author, CNN host, and social entrepreneur. He has founded and led initiatives focused on criminal justice reform, racial justice, green jobs, technology access, and bipartisan problem-solving.

“I’m honored to serve on the Advisory Board of The Genesis Prize Foundation and look forward to supporting its important work,” Jones said in a statement released by the foundation. “One area I am particularly interested in is the renewal of the Black-Jewish civic alliance in America.”

“Together, Black and Jewish Americans have written some of the most important chapters in the story of American democracy,” he said. “That relationship has since faced real strain, but it is far too important to abandon today. At a time of rising antisemitism, racism, and polarization, we need to rebuild trust, deepen relationships, and stand together against hate.”

Stan Polovets, co-founder and chairman of the Genesis Prize Foundation, said Jones brings “a rare combination of moral clarity, public credibility, and practical coalition-building experience.”

“At a time when Jewish communities are facing rising antisemitism, it is essential to engage respected non-Jewish leaders who can strengthen alliances and bring Jewish concerns into the broader public debate,” Polovets said.

Jones’ appointment connects Jewish achievement to civic responsibility

The Genesis Prize Advisory Board is chaired by Natan Sharansky, the former Soviet dissident, Israeli statesman, and human rights advocate.

Sharansky said Jones’s appointment reflects the foundation’s view that Jewish achievement also carries a call to “civic responsibility, moral leadership and engagement with the wider democratic society.”

The Genesis Prize Foundation said it works to foster Jewish identity, celebrate Jewish achievement, and strengthen ties between Israel and the Diaspora. Since its founding in 2013, the foundation said it has leveraged the annual $1 million Genesis Prize into philanthropic initiatives totaling more than $50 million, supporting more than 230 nonprofit programs in 31 countries.

The foundation said its supported causes have included organizations fighting for social, racial, and economic justice; groups assisting refugees from Syria and African countries; programs empowering women in marginalized communities in Israel; humanitarian aid in Ukraine; and advocacy for hostages and their families during the war in Gaza.

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Sam Harris is a thoughtful, provocative podcast host. Recognizing the Jihadist threat worldwide, he supports Israel enthusiastically. But he misreads what Zionism is – and should mean to the rest of the world. So, let’s duke it out substantively, respectfully.

About 28 minutes into a recent appearance on Haviv Rettig Gur’s compelling podcast, Ask Haviv Anything, Harris insisted: 

“I think there’s one disaster here that amounts to a kind of own goal that we keep scoring on ourselves that we need not ever score again, which is the use of the term ‘Zionism.’” 

Harris claimed that “Israel is the only country that has a name for an ideology that really is simply its account of why it has a right to exist.”

Zionism, he concluded, becomes “a permission slip that you keep putting in front of the world saying ‘this is what we call our belief that we have a right to exist.’”

 
That word is “never helpful.” It’s a “stumbling block” that sounds “dogmatic… like a form of racism” and “can be spun as some form of colonialism.”

Harris has defined Zionism too narrowly, while allowing antisemitic lies to obscure basic truths. Israel’s right to exist is foundational to Zionism, but limiting its horizons to that definition is suffocating.

Claiming Zionism only justifies Israel’s right to exist is like limiting Judaism just to belief in one God. Both phenomena are so much more multi-dimensional, no matter how reductive enemies and friends might be. 

Even before 1948, Zionism entailed far more than establishing a Jewish state. The many different streams of Zionism I detailed in The Zionist Ideas – Political, Labor, Cultural, Religious, Revisionist, and Diaspora – illustrate the kaleidoscope of visions circulating then. 

Zionists debated the Jewish state’s character, the New Jew’s trajectory, and the Jewish people’s fate in their homeland and abroad.

Since 1948, Zionists have defended the state, including its right to exist, when necessary, but also dream about what kind of state and what kind of people we will become – always. 

Today, Identity Zionism transcends politics and partisanship, offering Jews everywhere touchstones in their homeland and springboards toward individual and communal meaning.

What Zionism really means

Meanwhile, holding Zionism responsible for the global attack on Israel’s existence blames the victim. Abandoning the term – or internalizing the Jihadists’ slurs alleging racism, colonialism, and oppression – gives our enemies victories they don’t deserve.
 
Harris is correct. “We’re all living in Israel; only some of us have realized it.” That’s why we must repudiate anti-Zionists’ libel fest.

Admittedly, some Zionists exacerbate the problem. 

Left-wingers who only define Israel by any governmental missteps and right-wing extremists who squelch any self-criticism unintentionally feed misunderstandings of Zionism. Seeing Israel only through a partisan lens is blinding. 
And the Jewish world’s defensiveness is enervating.

Last year, I was invited to address Jewish indigeneity at a conference. Rather than telegraphing insecurity, as if Israel’s existence needs justifying, I shifted slightly. 

Taking Israel’s deep roots in our homeland as a given, I described how Zionist and Israeli culture flourished as Jews returned home and embraced their indigeneity.

Similarly, in my recent Essential Guide to Zionism, anti-Zionism, antisemitism, and Jew-hatred, published by JPPI, I didn’t act as Israel’s defense attorney. 

I simply mapped out: “Ancient Signs of Jewish Life in Israel Archaeologists Have Uncovered.” The map detailed seven sites in modern Israel where Jews did Jewish two thousand years ago.

It’s shocking that, as America’s 250th anniversary approaches, Harris labeled Israel “the only country that has a name for an ideology that really is simply its account of why it has a right to exist.” 

What about “Americanism?”
True, John Witherspoon coined the term in 1781 to describe a linguistic phenomenon. This signer of the Declaration of Independence tracked the twists Americans imposed on British English.

By the time Theodore Roosevelt celebrated “True Americanism” in 1894, the term had expanded deliciously, like Zionism. For some, “Americanism” did explain America’s right to exist. 

Others defined “Americanizing” as acculturating. Still others meant America’s core ideals, especially “consent of the governed,” and everyone’s “inherent rights.” Americanism, TR wrote, “is a question of spirit, conviction, and purpose, not of creed or birthplace.”

In 1922, the British philosopher GK Chesterton wrote: “America is the only nation in the world that is founded on a creed. That creed is set forth with dogmatic and even theological lucidity in the Declaration of Independence.”
 
Chesterton popularized a colleague’s insight that “America is a nation with the soul of a church.”

I have long argued that, thanks to Zionism’s kinetic ideology, Israel, like America, is one of the few democracies in the world founded on an idea – “to be a free nation in our homeland,” and “life, liberty, and the pursuit of happiness.” 

Canada’s formula, for example, is static: “peace, order, and good government.”
Zionism and Americanism make Israel and America dynamic, catalytic countries, yearning, churning, and ever-trying to better their nations by fulfilling their founding ideals – while improving the world too.

Building off Chesterton, Israel parallels America with a Jewish accent. Israel is “a nation with the soul of a shul” – forever squabbling while driven by tradition, values, rituals, ideas, and ideals.

So, no. Using the term “Zionism” isn’t scoring an “own goal” against us. Zionism is a verb, a process, a movement. It involves articulating our own goals individually and communally – in Israel and worldwide. 

Zionism will keep us building the world’s only Jewish democracy, while strengthening the Jewish people, an old-new people who, thanks to Zionism, have been empowered, renewed, stretched, and inspired once again.

The writer is an American presidential historian and a senior fellow in Zionist thought at the Jewish People Policy Institute in Jerusalem. Last year he published To Resist the Academic Intifada: Letters to My Students on Defending the Zionist Dream and The Essential Guide to Zionism, Anti-Zionism, Antisemitism and Jew-hatred, available on the JPPI website. Next month, he will publish The Essential Guide to the US-Israel Partnership, the 250th Edition.

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The Reservists Party is expected to soon join a political alliance ahead of the upcoming elections, party leader Yoaz Hendel told The Jerusalem Post in a Thursday interview, outlining the party’s plans and direction.

Speaking after the party held internal primaries to determine its Knesset list this week, Hendel said he was engaged in “sensitive talks” regarding a merger.

The Reservists Party currently does not pass the electoral threshold in polls, ahead of elections set to take place no later than October 27.

If the party runs on its own and does not pass the needed threshold, the votes that went toward the party would be effectively discarded.

“My worldview says we must behave in politics with the same seriousness as in military or civilian missions. We cannot take risks. We must come with serious political power. Otherwise, we will get the same result again,” Hendel explained.

Reservists may merge with Blue and White, ally with Chili Tropper

There have been reports about a potential merger between the Reservists and Blue and White leader MK Benny Gantz’s party, or an alliance with MK Chili Tropper, who recently left Gantz’s party.

Hendel said that his party has been in touch with others regarding a merger, but that he could not go into the details of who the alliance would be with yet.

“The Reservists are supposed to be the factor that changes the system. There are enough serious forces we can partner with, but it must be based on ideology and principles, not politics,” he noted.

The party has presented itself as a response to the leadership vacuum following the October 7 massacre, and it advocates for universal conscription. Among its central principles is a refusal to join any government that includes parties whose members do not serve in the IDF.

The Reservists have launched campaigns against the haredi (ultra-Orthodox) and Arab parties ahead of the elections, calling to bar those who do not serve in the IDF from voting and from running for Knesset.

Hendel will not rule out serving with Netanyahu

When asked about sitting in a government with Prime Minister Benjamin Netanyahu, Hendel did not rule out the option, though he said that he held the belief that citizens should not vote for the premier. He noted that Netanyahu was responsible for the October 7 Hamas attacks in 2023.

Hendel stressed that it was most important not to form a government with the haredi or Arab parties, because, at the moment, they do not serve.

“We want to integrate all groups into Israeli society,” he said. “There is no reason an Arab citizen from Umm al-Amad should not do national service, and no reason a haredi citizen should not serve in the army or in civil service. Whoever chooses not to serve should not be part of [the] government.”

Hendel also explained the complexity of leading the party while consistently returning to combat as part of his reserve duty.

“I have no choice but to go up [to the reserves] – otherwise, the battalion won’t go,” adding that, in parallel, he also needed to lead the party.

“It is a very complex situation personally. But, like me, there are tens of thousands of reservists for whom this is also complicated.”

The party held internal primaries to determine its Knesset list, with candidates including reservists, bereaved family members, and wounded IDF veterans. Six candidates were announced on Wednesday to be on the list.

Thousands of registered members of the Reservists Party voted to determine the list.

Explaining the process of holding the primaries and which parties in Israel are not required to do so, Hendel said that, “unlike the trend in Israeli politics, we deliberately chose to create a full democracy.”

Hendel added that he purposely chose to hold elections for the party chairperson, even though he was the founder of the Reservists. Hendel was then elected to remain the party’s leader.

Notably, only those who had done military or national service could join the party.

“We gave space to the best people in Israel, those who, on October 7, when the state disappeared, stepped up, took responsibility, and took command.”

“We have reservists, civilians who carried out civic emergency actions since October 7, bereaved families, and wounded IDF soldiers,” Hendel said. “There was an incredible contest of excellent people.”

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US President Donald Trump expressed some reservations about endorsing Prime Minister Benjamin Netanyahu in the upcoming elections before he knew who the other candidates were. 

In a Thursday interview with Israeli public broadcaster KAN News, he said he would “most likely endorse” Netanyahu but wanted to learn more about the other candidates. 

“I’ll have to look at who’s running, but I like Bibi very much. I would be most likely to endorse him,” the president told KAN News’s Nathan Guttman. 

“But I need to see who is running. I have a good relationship with Bibi, but he needs to be more rational. I am willing to meet with him. He’s doing a very good job; he’s got to be a little bit more rational.”

Trump says Netanyahu needs ‘softer touch’ in Lebanon

This comes after Trump’s other recent criticisms of Netanyahu. On Wednesday, Trump claimed the pair have a “little dispute” over Lebanon, and added that Netanyahu “gets a little excited sometimes.”

“I say you can do a little softer touch, maybe you don’t need to bring down a building every time a Hezbollah member walks into it.”

In addition, US Vice President JD Vance said that the US would not remove sanctions on Iran if it were still funding a terrorist organization, he said, in a reference to Hezbollah.

He then criticized a “weird panic… in the Israeli system” in regard to Iran. 

“They assume that everything that is contemplated that is good for Iran will happen – but that will happen without the Iranians changing any behavior,” Vance said in an interview with the New York Times. “That’s not how the deal is written.”

“I find this whole freakout in Israel a little bit odd because I think that it comes from a place of mistrust, and I think that America has earned the trust of that region of the world,” Vance said.

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Iranian Supreme Leader Mojtaba Khamenei said that Iran will not submit to the “excessive demands” of the United States in future negotiations with the US in a series of posts on X/Twitter on Thursday. 

Khamenei said that he eventually approved the Memorandum of Understanding (MoU) based only on a series of promises from Iranian President Masoud Pezeshkian and the negotiating team. 

“I, as a matter of principle, held a different view; however, out of the commitment that the esteemed president—as the head of the Supreme National Security Council—gave to me on his own behalf and on behalf of the other members regarding the safeguarding of the rights of the Iranian nation and the Resistance Front, and his explicit acceptance of that responsibility, I granted my permission.”

Khamenei argued that “it was the American president who, out of desperation, used all kinds of leverage to bring this about.”

The Iranian supreme leader then said that Iran would wait to see the deal’s effects, but that it was evident that in-person negotiations did not constitute acceptance of the American position.

This is a developing story. 

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Israel is expecting to find a solution to Hezbollah’s explosive drones in “a matter of weeks, not months,”  Israel Aerospace Industries CEO Boaz Levy said on Wednesday on 103FM.

“The drone issue is at the top of our agenda, under the leadership of MAFAT in the Defense Ministry,” he said.

“There are currently several responses being examined. We divide the whole issue into the stages of detection, identification, and then destruction. At the moment, there are several ideas that have already been implemented, some of which even work, in which we are able to destroy the attacking drone using kinetic and electronic means,” he added.

France bars Israel from Eurosatory weapons exhibition

Levy also criticized France for barring Israel from the Eurosatory weapons exhibition.

“An embargo is something that has accompanied the State of Israel for many years, since the 1960s,” Levy said.  “The French were involved in it then as well, and those who remember the Mirage aircraft that we were embargoed from receiving are the ones who led to the development of Israel’s aeronautical industry.”

“These capabilities are possible thanks to the technological ability that exists in the country. In contrast to the exhibition in Paris, there was an exhibition in Berlin last week where we received a warm welcome,” he added. 

“The French went too far and are behaving in a very strange way, which reflects their business interest more than their political interest. We will continue to be there and do business with all our partners around the world.”

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The High Court of Justice ordered the state to explain why it should be allowed to continue holding detainees from Gaza for weeks before bringing them before a judge under wartime amendments passed after the October 7 massacre.

The conditional order, issued on Wednesday by Supreme Court President Isaac Amit and Justices Dafna Barak-Erez and Ruth Ronnen, gives the state until July 19 to respond.

At the center of the case is the Incarceration of Unlawful Combatants Law, a 2002 law that allows Israel to hold people it defines as unlawful combatants in order to prevent them from returning to hostilities.

Unlike ordinary criminal detention, these detainees are not necessarily held for the purpose of filing an indictment against them.

After the October 7 massacre and the start of the Israel-Hamas War, the Knesset passed temporary wartime amendments expanding the time periods allowed under the law.

The changes were intended to help security authorities handle the large number of detainees taken during the war, but rights organizations argue that the framework now allows people to be held for prolonged periods without basic oversight.

The petition was filed in February 2024 by the Public Committee Against Torture in Israel (PCATI), Physicians for Human Rights-Israel, HaMoked: Center for the Defence of the Individual, Gisha, and Adalah.

It was filed against the Knesset, the government, the prime minister, the defense minister, the IDF, the Shin Bet (Israel Security Agency), and the attorney-general.

The petitioners argue that the wartime framework severely extends the time before detainees receive a permanent incarceration order, delays their first appearance before a judge, extends the period during which they may be prevented from meeting a lawyer, and allows hearings to be held remotely.

The High Court’s order focuses on the delay before judicial review. Under the current framework, adults held under the law may wait up to 40 days before being brought before a judge, while minors may wait up to 30 days.

The court ordered the state to explain why the provisions allowing those extended delays should not be canceled or amended.

State argues that emergency framework remains necessary 

The order followed a June 2 update from the state, which argued that the emergency framework remains necessary despite some decline in the number of detainees held under the law.

According to the state, as of late April, 1,358 detainees were being held under the law by the IDF and Israel Prison Service, including 26 under temporary incarceration orders and 1,332 under permanent orders. Four minors were also being held under the law.

The state said that between December 22, 2025, and April 23, 2026, approximately 141 new temporary incarceration orders were issued for detainees held in IDF and IPS facilities, while approximately 114 detainees were released.

It clarified that the two groups do not necessarily overlap.

The state also said that an earlier draft of the latest amendment would have shortened some of the timeframes, including reducing the maximum period until first judicial review to 33 days for adults and 25 days for minors.

However, the state said that before the amendment was advanced for final approval, the security situation had worsened.

It cited the war with Iran and renewed intensive IDF ground maneuvering in Lebanon. Because of that, the final version of the amendment left the existing timeframes in place.

The state argued that the number of detainees held under the law remains “exceptional and very significant,” and far higher than it was before the war.

Petitioners claim emergency arrangement has morphed into prolonged detention regime

The petitioners argue that the repeated extensions have turned an emergency arrangement into a prolonged detention regime, under which people, including children, can be held for weeks without seeing a judge.

PCATI said after the order that more than 6,000 detainees, mostly Gazans, had been held under the amended framework since the provisions were enacted and that more than 40% had been released without charges.

The organization also argued that the state’s figures indicate that, as of the end of April, at least 50 detainees held under the law had not yet undergone any judicial review.

Attorney Merav Ben-Zeev, director of PCATI’s legal department, said the High Court’s decision, together with last week’s ruling against the sweeping prevention of Red Cross visits to Palestinian security prisoners and detainees, showed the urgency of canceling the temporary order.

She said the arrangement allows prolonged incarceration without indictment, reasoning, judicial review, or access to counsel and argued that the lack of contact with the outside world and the absence of judicial oversight endanger detainees’ physical and mental well-being.

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When Tamir Poleg bought a property in France, the process gave him a glimpse of what he hopes the U.S. and Canadian real estate markets can avoid — listing fragmentation.

To find the home, Poleg said he had to search across multiple websites, many of which had outdated, inaccurate or incomplete information. The experience was frustrating enough that it shaped how he thinks about one of the biggest debates now playing out in U.S. real estate: listing fragmentation.

“I bought a property in France, and in order to find the property, I had to go through so many different websites with so much false information, or inaccurate or just outdated information,” Poleg, CEO of The Real Brokerage, said on the RealTrending podcast. “It was just not a great experience.”

That experience is now informing Poleg’s view of the industry at a moment when Real is preparing to acquire REMAX, private listings are dominating industry conversations, brokerages are rethinking scale and artificial intelligence is beginning to reshape how agents work.

REMAX deal is not simply about size

According to Poleg, its about combining Real’s technology and growth with one of the most recognized brands in real estate.

Remax has this iconic brand, they’re known everywhere, they have the scale, and Real has the growth, and Real has the technology,” Poleg said.

The deal surprised many in the industry, in part because Real is widely viewed as a tech-forward, cloud-based brokerage, while REMAX is a legacy franchise brand with a long-established office and broker-owner model. But Poleg said Real had been looking at REMAX for years and saw the two companies as highly complementary.

“When we started to try and analyze why REMAX was kind of slowing down in North America, we realized that it’s because of a tech gap, it’s because of a value proposition that needed a little bit of a boost, it’s because their franchisees/brokers are struggling a little bit with margins, and this is exactly what we thought we could help with,” he said.

Poleg said Real’s technology platform was designed to help brokerages operate more efficiently. Bringing that to REMAX, he said, could strengthen the value proposition for franchisees and agents while preserving the REMAX brand.

“If you’re an agent that seeks more freedom, flexibility, you’re a little bit more tech savvy, you want to work from anywhere, you can join under the real model,” Poleg said. “If you’re an agent that is looking for more of a brand name office location or office present, you want your broker close to you. You can join other REMAX, but now we can offer both models under the same umbrella.”

Cultures are similar, says Poleg

Despite the obvious differences between the two companies, Poleg pushed back on the idea that the cultures are too far apart. He said both companies are focused on agent productivity and helping agents succeed.

“Both companies are focused on productivity, agent productivity. Both companies are kind in nature. We’re trying to disconnect ourselves from the politics in the industry, we’re trying to focus on our businesses, so there are a lot of similarities,” he said.

Private listings? Start with agents

That “stay out of politics” approach also helps explain why Real has remained relatively quiet during the private listings debate. As major brokerages, portals and MLSs argue over inventory access and listing control, Poleg said Real started with its agents.

“The first thing we did when this whole private listing, private exclusive, free marketing started to be a discussion, we just reached out to our agent population and asked them, Is this meaningful to you? Do you want us to do something about it,” he said.

The response, he said, was clear.

“About 95% of our agents on the Real side said our clients are not even asking us about this, like this is not even a discussion,” Poleg said. “Out of the remaining 5%, some 50% of them, so 2.5%, said that their clients are somewhat interested in having a discussion about private listing.”

For now, Poleg said, that told Real not to rush into the debate. But he is watching the issue closely, especially as listing access becomes more fragmented.

“I think we’re getting to the point of no return on this, and I think that very soon, and when I mean very soon, it could be in a matter of a few months, we’ll be at a point where fragmentation is beyond our control, and we cannot get the genie back in the bottle,” Poleg said.

Concerns about the consumer

His concern is that consumers could lose easy access to accurate, comprehensive listing data — a hallmark of the U.S. real estate system compared with other countries.

“I hope that we do not end up this way in the U.S. and Canada,” he said. “But I think that in terms of fragmentation and everything that’s happening with the MLSs and the kind of the large forces that are pushing in different directions, I think that it’s becoming inevitable to find ourselves in a situation which could be less in favor of consumers’ ability to find data, accurate data in an easy way.”

AI could reshape the industry

AI is another force that could reshape the industry, but Poleg said the technology should be used to improve the transaction, not remove the agent from it.

“At the end of the day, AI should help create better experiences, both for agents and for consumers,” he said.

For Real, that means using AI to eliminate friction, create transparency and reduce the time it takes to move from search to closing. Poleg said he believes Real is “far ahead of everybody else when it comes to AI capabilities,” but he also warned that many companies underestimate what it takes to build AI tools that are actually useful.

“Everybody can use AI. Everybody uses ChatGPT, Claude, Gemini on a very superficial level,” he said. “I think that when it gets interesting is when you’re thinking about agentic use of AI and building agents that are focused on one specific task.”

At Real, Poleg said the company is building multiple AI agents, each designed for a specific function, such as drafting contracts or creating social media content. The long-term goal is to give agents one entry point that can coordinate many AI tools behind the scenes.

“The future is us as real estate professionals employing AI agents as if they were our employees, and they become specialized in one specific task, which eventually they will perform better than we perform,” he said.

AI is not a threat to agents

But Poleg does not see that as a threat to agents. Instead, he sees AI as a productivity layer that allows agents to serve more clients while spending more time on the parts of the transaction that require human trust.

“People will still need humans to hold their hands and guide them through that somewhat complicated, highly emotional transaction that they’re going through,” he said. “As humans, we want to be guided by humans, because this is who we trust.”

The goal, he said, is not to replace agents. It is to make them more capable.

“I think that agents are here to stay, but we can turn agents into super agents with the right technology and the right help, and that’s what we’re going to try and do,” Poleg said.

Future look

Looking ahead, Poleg does not expect the industry to change overnight. After more than 20 years in real estate and more than 12 years building Real, he said he has learned that change often takes longer than people expect.

“In three years, things will look almost the same,” he said.

But over a longer time horizon, he believes the transaction itself has to change. Consumers do not want process, paperwork or uncertainty, he said. They want a home.

“At the end of the day, what buyers want is a home, and we, as an industry, we don’t provide them homes,” Poleg said. “We deliver a set of tasks and paperwork that they don’t understand, and the lengthy process that they’re concerned about, and that has to change.”

For Real, the next step is closing the REMAX transaction and beginning the work of bringing the companies together while keeping the two brands distinct. Poleg said Real will remain focused on improving the agent experience, the consumer experience and watching closely as the industry navigates consolidation, AI, MLS policy and listing data control.

“This is what we’re going to be focused on for the foreseeable future,” he said.

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication. 

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Real estate has always had a complicated relationship with lead follow-up. Everyone knows speed matters. Everyone knows consistency matters. And almost every team believes there is missed opportunity sitting somewhere inside its database, even if they’re using real estate AI follow up.

The common response has been to increase activity: take a large group of buyers and sellers, load them into an ISA process or dialer and start making calls. With AI-powered callers now entering the market, that temptation is only growing. If technology can call faster, cheaper and more consistently, why not use it to reach as many contacts as possible?

More outreach doesn’t mean more opportunity

The problem is that more outreach does not automatically create more opportunity. After analyzing more than one million real estate follow-up calls over the last three months, one of the clearest lessons is that intent beats volume.

The best-performing follow-up did not come from calling the largest list. It came from calling the right person after they had shown a real signal of interest. That signal could be a property click, a home valuation request, a landing page visit, an ad response, an email click, a saved search or engagement with a piece of market content.

This distinction matters. A buyer who clicked on a listing yesterday is not in the same position as someone who has been sitting quietly in a CRM for three years. A homeowner who just filled out a valuation form is not the same as someone who once attended an open house in 2019. From a database perspective, both may be “leads.” From a follow-up perspective, they are completely different conversations.

That difference should shape everything: when the call happens, what the opening line sounds like, what information the assistant or ISA has available, and whether the outreach feels helpful or random.

Calling more people is not a strategy

One of the biggest mistakes real estate teams make is confusing activity with opportunity. Call volume is easy to measure, and with automation, it is easier than ever to increase. But a high number of dials does not mean a team is creating meaningful conversations.

In fact, indiscriminate calling can work against the agent. If the consumer has not taken any recent action, the call can feel disconnected. The person receiving it may not remember the agent, the listing, the form or the original reason they entered the database. Even if the call is technically compliant and professionally delivered, it may still feel like noise.

That is why broad database calling should be approached carefully. The better approach is to build follow-up around signals of intent. Did the consumer click on a property? Did they open and click an email? Did they respond to an ad? Did they request a valuation? Did they revisit a landing page? These actions provide context and make the outreach feel more relevant.2 

AI-powered follow-up makes this discipline even more important. When technology can create activity at scale, the strategy behind that activity matters more, not less. If the targeting is wrong, AI simply helps a team do the wrong thing faster.

Context matters more than the perfect script

Real estate teams often spend a lot of time refining scripts. Scripts are useful, especially when teams are training new ISAs or trying to create consistency across many conversations. But in the call data, the strongest results were less about having the perfect script and more about having the right context.

A follow-up call is much more effective when the person or system making the call understands why the lead is being contacted in the first place. Did they look at a specific property? Were they searching in a certain price range? Did they click on a market update? Are they a buyer, seller, investor or past client? Did the lead come from an ad, a landing page, an email campaign, a portal or the agent’s own database?

Without that context, even a polished opening can sound generic. With context, the conversation becomes more natural. “I saw you were looking at homes in Scottsdale” is a very different opening than “I’m just following up on your real estate inquiry.” One feels specific. The other feels like a call center.

This is an important shift for the industry. The future of follow-up is not just better scripts. It is better data before the call starts. The more context an assistant has, the more likely the call is to feel relevant to the consumer.

One call is rarely enough

Another clear pattern from the call data is that many leads do not answer on the first attempt. In many cases, engagement required more than one touch. A common pattern was a combination of calls and a text message from the same number before the lead picked up or responded.

This matters because many agents still give up too early. A lead is called once, maybe receives a voicemail or a text, and then gets labeled as bad or unresponsive. But the issue may not be lead quality. It may simply be that the follow-up sequence was too thin.

Consumers are busy. They may be working, driving, with family or unwilling to answer an unfamiliar number the first time it appears. A second call, especially when paired with a relevant text from the same number, can make the outreach feel more recognizable and less random.

The key is that persistence has to be tied to context. Calling repeatedly without a relevant reason can feel like pressure. Calling with a clear connection to a recent action can feel like service. That difference matters.

Local presence still affects answer rates

Phone number strategy also plays a larger role than many teams realize. When a lead in Arizona receives a call from a New York number, the trust gap starts before the conversation begins. The consumer is already making a decision: does this feel familiar, local and worth answering, or does it feel like another unwanted call?

Local presence is not about misleading the consumer. It is about understanding that trust starts before the first word is spoken. Area code relevance, number reputation, call history and connection rate all affect performance.

As AI callers and automated follow-up systems become more common, number management will become a more serious operational discipline. Teams will need to monitor which numbers are performing, retire numbers that are no longer effective, and assign local numbers when possible. This is not a minor technical detail. It can directly influence whether a consumer ever answers the phone.

A voice that sounds too perfect can hurt performance

One of the more interesting findings was around voice quality. The instinct with AI-powered follow-up is often to make the voice sound as polished and neutral as possible. But overly perfect voices can create suspicion. Consumers are used to real assistants sounding human. They pause. They vary their tone. They may have an accent. They do not sound like a perfectly produced commercial voiceover.

In some call groups, making the voice sound more natural improved appointment booking. In one test, adding subtle human characteristics to the voice increased appointment booking by roughly 20%, moving a base booking rate of about 4% closer to 5%.

That may sound small, but at scale it is meaningful. On every 100 qualified calls, that difference can represent one additional booked appointment. Across thousands of calls, the impact compounds.

The broader lesson is not that one voice type or accent is universally better than another. The lesson is that consumers respond to experiences that feel natural. AI follow-up should not try to trick people, but it also should not sound robotic, overly polished or disconnected from how real assistants speak.

In real estate, trust is still the product.

Appointment rate is the metric that matters

Many teams still measure follow-up by activity: number of dials, number of texts, number of leads loaded, speed to first call. These are useful operating metrics, but they are not the outcome.

The better metric is appointment booking rate. Did the lead engage? Did the conversation move forward? Did the consumer agree to a showing, consultation, valuation appointment or next step? Did the agent receive a real opportunity?

A high call count with a low appointment rate is not success. It is just activity. As AI-powered follow-up becomes more common, this distinction becomes critical. AI can increase call volume very quickly, but the goal should not be more calls. The goal should be more meaningful conversations.4 

The question for real estate teams should shift from “How many leads did we call?” to “How many real opportunities did we create?”

AI follow-up should protect the agent’s time

The biggest lesson from analyzing 1 million calls is not that AI can call faster than a human. That part is obvious. The more important lesson is that most agents do not have a lead problem as much as they have a nurturing problem.

Agents and teams spend money on ads, portals, landing pages, websites, social media and email campaigns. Leads are generated, but too many are contacted too late, called once and forgotten, or approached with no context. The opportunity is not only in generating more leads. It is in handling the leads that already exist with more consistency and intelligence.

AI can help with that, but only if it is used correctly. Bad automation creates more noise. Good automation improves timing, adds context and creates better handoffs to the agent.

The agent still matters. The relationship still matters. The appointment still needs a professional who can advise, negotiate and build trust. But before any of that can happen, the lead has to engage.

That is where the industry is changing. The teams that win will not be the ones that simply automate the most. They will be the ones that understand intent, follow up with context and use AI to create more meaningful conversations, not just more calls.

In real estate, the first conversation still matters. Increasingly, the quality of that conversation depends on what happened before the phone ever rang.

Sam Mehrbod is a former top 1% Realtor in Vancouver with deep knowledge of property technology. 

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

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

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This 2,725-square-foot, three-bedroom property at 45 Spectacle Lane in Wilton, Connecticut, is full of surprises. Asking $1,625,000, the 3.32-acre property features a main house with guest quarters, surrounded by enchanting gardens and an undulant, rock-bordered pool you’d expect to find on the grounds of a villa in southern France. Hailed as a quiet architectural masterpiece, the 1925 home has been lovingly restored to reflect a timeless modern sensibility rarely found in such a private country setting.

Both residences and the greenery that surrounds them form a clean canvas for daily living and entertaining.

The home was featured in New York Magazine, celebrated for its art-filled interior. In keeping with its uniquely creative history, the main house offers a lovely, light-filled art studio with high, beamed ceilings.

The main house starts with light-filled living spaces. The kitchen (the only room the current owners left as-is during their renovation) is a colorful celebration that combines modern aesthetics with functional space.

Two bright bedrooms follow the home’s design directive of open, airy space and plenty of views of the surrounding greenery.

A standout feature is a studio/home office framed by vaulted ceilings and a picture window that showcases the tree line.

A separate, private one-bedroom guest cottage is equally charming. A compact kitchenette, cozy bedroom, and penny-tiled bath make use of every square inch of this beautifully-designed guest space.

The surrounding grounds are no less breathtaking in their early-20th-century charm. A free-form pool is set into natural stone, with a stone bridge spanning the middle.

The surrounding land includes stone steps, shaded outcroppings, and rolling lawns. A wide front porch provides a sheltered option. Despite its complete privacy, the home offers easy access to Wilton and Ridgefield’s town centers and major commuter routes.

[At Brown Harris Stevens by Ellen Garcia]

RELATED: 

The post For $1.6M, this Connecticut estate has an art studio, guest house, pool, and a vintage modern vibe first appeared on 6sqft.

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Amazon founder Jeff Bezos said that the rise of artificial intelligence (AI) won’t lead to the replacement of humans in the workforce and will instead create labor shortages.

Bezos spoke at the VivaTech technology conference in Paris on Wednesday and offered an optimistic outlook on the impact of AI on the workforce amid concerns about its impact on the role of human workers across the economy.

“I know there’s a lot of concern that many people have, including many smart people, that AI is going to make humans redundant and so on,” Bezos said.

“I totally disagree with that point of view. And I think, in fact, AI is going to create a labor shortage,” the Amazon founder added. “We have an endless set of things to invent… We are limited not by our imaginations but by what we can actually do.”

AI REMAINS TOP REASON FOR US JOB CUTS FOR THIRD STRAIGHT MONTH AS EMPLOYERS AXED 97,000 WORKERS IN MAY

“I promise you every single person in this audience has had an idea for a new business or a new product or a new device that they wish they could manufacture, and that idea stayed in your head and went nowhere,” Bezos explained. “And the reason it stayed in your head and went nowhere is because it’s too hard to do, and it wasn’t worth it.”

“If we can accelerate the dream build loop, all of the ideas will then become possible. And then we end up being limited not by our capabilities, but by our imaginations,” he added.

AMERICA CAN’T COMPETE WITH CHINA IN AI WITHOUT THESE WORKERS, META’S PRESIDENT SAYS

Bezos’ comments come as companies are reevaluating their workforces in light of the advancements in AI, with thousands of job cuts following in the wake of companies’ investments in the emerging tech.

A report by global outplacement and executive coaching firm Challenger, Gray & Christmas found that about 40% of the 97,006 job cuts announced by companies in May were attributed to AI.

The 38,579 cuts attributed to AI in May was the highest monthly total linked to that since Challenger began tracking it in 2023.

AMAZON TO CUT 16,000 ROLES AS IT LOOKS TO INVEST IN AI, REMOVE ‘BUREAUCRACY’

“The labor market is being reshaped by technology in real time. AI is now the leading reason companies give for cutting jobs and the primary industry citing it is technology,” said Andy Challenger, the firm’s chief revenue officer and a labor and workplace expert.

The tech sector announced 38,242 job cuts in May – the highest for the sector since August 2024. Firms within the sector have announced 123,653 cuts in 2026 so far, which is an increase of 66% from the same period in 2025 and leads other sectors in job cuts this year by a wide margin.

“AI isn’t yet the jobpocalypse some predicted. Like spreadsheets and email before it, the technology will ultimately make workers more productive, but our data shows companies are already acting on it, citing AI for more cuts than any other reason,” Challenger explained. “The open question isn’t whether AI changes the workforce, but how fast.”

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Amazon is one of the tech firms that has cut jobs amid its investments in AI, with the company announcing 16,000 cuts in January.

Reuters contributed to this report.

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Mars Wrigley North America is moving forward with plans to sell dye-free versions of some of its most recognizable candy brands, marking a significant shift for a company that previously resisted removing artificial colors from its products.

The initiative, first announced in July 2025 and now rolling out during 2026, will introduce versions of M&M’s Chocolate, Skittles Original, Starburst Original, and Extra Spearmint Gum made without synthetic petroleum-based food dyes. The move aligns with growing pressure from regulators, lawmakers, and consumer advocates associated with the Make America Healthy Again (MAHA) movement championed by Health and Human Services Secretary Robert F. Kennedy Jr.

The reformulated products will be sold alongside existing versions rather than immediately replacing them nationwide.

According to Anton Vincent, President of Mars Wrigley North America, the company’s approach is intended to be both “consumer-focused and science-led.”

The announcement represents a notable reversal from Mars’s earlier position.

In 2016, the company pledged to remove artificial colors from its global food portfolio within several years. That commitment was later scaled back after Mars concluded many consumers did not view synthetic dyes as a major concern.

At the time, the company said its research showed that many customers around the world did not consider artificial colors to be ingredients they actively sought to avoid.

Since then, however, the political and regulatory environment has changed dramatically.

The Food and Drug Administration (FDA) banned Red No. 3 from foods in early 2025, requiring manufacturers to remove the additive by 2027. Federal regulators have also encouraged food manufacturers to reduce reliance on other synthetic dyes, including Red 40, while approving additional natural coloring alternatives derived from fruits, vegetables, and other natural sources.

Several states have enacted laws limiting or banning artificial food dyes in school meals, further accelerating industry reformulation efforts.

The issue has also drawn legal scrutiny.

Texas Attorney General Ken Paxton launched an investigation into Mars, seeking company records and questioning why some products sold in Europe already use alternative formulations while U.S. versions continue to contain artificial dyes. Paxton directly linked the inquiry to broader MAHA health initiatives and called on manufacturers to move more aggressively toward reformulation.

For food companies, replacing synthetic dyes is not a simple or inexpensive process.

Natural color alternatives often provide less vibrant colors, can be less stable over time, and frequently have shorter shelf lives than synthetic additives. Supply chains for natural color ingredients are also more limited, creating additional cost pressures as demand increases across the industry.

The National Confectioners Association has warned that large-scale transitions away from synthetic dyes could significantly increase manufacturing costs and strain supplies of natural coloring ingredients.

Despite those challenges, much of the industry is already moving in the same direction.

Kraft Heinz, General Mills, PepsiCo, ConAgra, The Hershey Company, Nestlé USA, McCormick, and J.M. Smucker have all announced plans to reduce or eliminate artificial food dyes, with most targeting completion between 2027 and 2028.

That leaves Mars no longer as an outlier but as part of a broader transformation sweeping through the American food industry.

For consumers, the rollout comes with an important distinction: the traditional versions of these products are not disappearing immediately. Instead, Mars is initially introducing dye-free alternatives and allowing shoppers to choose between the two.

The scientific debate surrounding food dyes also remains unresolved. The FDA continues to maintain that approved food-color additives are safe for most consumers when used as directed. However, some researchers and health advocates point to studies suggesting certain artificial dyes may contribute to hyperactivity and behavioral issues in a subset of children.

As a result, the shift is being driven not only by science, but also by changing consumer preferences, political pressure, and evolving market expectations.

For Mars, a privately held company generating tens of billions of dollars in annual revenue, the calculation appears increasingly straightforward: the cost of reformulation may now be lower than the reputational risk of resisting a trend that is rapidly gaining momentum among regulators, lawmakers, and consumers.

Whether the dye-free versions ultimately replace the originals remains to be seen. But one thing is clear: the candy aisle is becoming the latest battleground in America’s growing debate over food ingredients and public health.

JBizNews Desk

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A federal lawsuit. A study with a $1.4 billion headline. A survey with an 85% stat. A LinkedIn brawl. The Zillow versus Compass story arrived not as a court case but as a campaign. And every campaign needs an audience.

That audience is you.

On May 12, Zillow filed a Sherman Act case in U.S. District Court for Northern Illinois against Compass and MRED, the Chicago-area MLS. The complaint alleges that the two coordinated to use MRED’s rule-making power to pressure Zillow into displaying Compass private listings nationwide, or lose its Chicago listing feed.

The filing itself runs more than 100 pages. Most agents will never read it. The press cycle; however, is impossible to avoid.

Within 48 hours of filing, Zillow released a methodology piece tying private listings to $1.4 billion in alleged seller losses over three years, plus another $1.5 billion attributed to deals where one brokerage represented both sides. The next day, came a consumer survey: 61% of potential sellers said broad online exposure beats a private network, and 85% said they want an agent who can pre-market their home to the broadest online audience.

Then, Compass CEO Robert Reffkin answered. Not in court. On LinkedIn. He told followers, “Zillow isn’t protecting transparency, Zillow is protecting Zillow, and willing to hurt agents and sellers to protect their monopoly.” He paired the post with what he called an internal Zillow strategy document and argued it showed Zillow’s plan to sue brokerages that allow sellers to market outside the portal.

This is what a coordinated communications strategy looks like. Both companies are running one.

The analysis

Step back from the dollar amounts for a minute. Look at the sequence.

A filing followed by a study followed by a survey followed by an executive post is not a legal strategy. It is a media strategy. Each piece is engineered for a different audience. The lawsuit is for the federal judge. The study is for the trade press. The survey is for the consumer press. The LinkedIn post is for the agent down the street.

When you receive content built for a specific audience, the question to ask is not “Is this true?” The question is, “What does the sender want me to do after I read it?”

Zillow wants you to repeat the seller-loss figure on your next listing appointment. Compass wants you to repeat the “seller choice” line. Both companies need agents to be carriers of their message into homes the companies will never set foot in. That is how a corporate fight becomes a Tuesday afternoon listing conversation in Wichita or White Plains.

PowerfactWhen two companies time their press releases like a relay race, they are not informing the industry. They are training it. Notice the choreography, and choose your own words.

The honest read on the underlying facts is uncomplicated

Zillow’s $1.4 billion number rests on the Zestimate, a tool that has been criticized for years as directionally useful but not surgically precise. The figure is overstated as an exact dollar amount. The underlying logic, that broader exposure tends to produce stronger price discovery, has been true since the first public auction. Compass’s argument that sellers should have the right to choose how their homes are marketed is also true in principle. The question Compass does not answer is whether every Compass seller who chose a private path was first shown the cost of that choice in their own numbers.

Both sides have a piece of the truth. Neither side has the seller’s interest as its primary loyalty. That loyalty belongs to the agent in the room.

Powerfact: Your fiduciary duty does not live in a press release. It lives in the listing agreement, the file and the conversation you had with the seller before either was signed.

Roughly 55% of Compass listings flow through Private Exclusive or Coming Soon pathways according to their own shareholder’s report last year. That means more than half of all their sellers are choosing a private listing knowing they are risking losing money on their house. Really? Do you believe that? The internal data inside one of the loudest brokerages tells a quieter story than its press releases.

What Agents Should Do

Read the actual lawsuit. The complaint is publicly filed. Spend an hour with the document itself, not the coverage of the document. You will be a more useful resource to your clients after 60 minutes with the filing than after three months of headlines.

When a seller mentions either company by name, do not take a side. Ask one question: “What outcome are you trying to produce with this sale?” Net dollars? Speed? Privacy? Certainty? Build the marketing plan around the answer, not around the brand names.

Stop volunteering data points from either side’s marketing materials. If you cite the $1.4 billion figure unprompted, you are carrying Zillow’s water. If you cite “seller choice” as a default, you are carrying Compass’s water. Use your own comps, your own math, your own language.

Run a quiet inventory of your own brokerage’s position. Find out where your broker officially stands on private listings, delayed marketing, and dual agency. If you cannot explain it in plain English to a seller, you cannot defend it in a transaction.

The fight between Zillow and Compass may last years

It will produce more lawsuits, more studies, more surveys, more weekend LinkedIn moments. It will also produce a steady supply of pre-packaged talking points designed for your mouth.

The proper agent response is to be useful to the seller in front of you and skeptical of every piece of content built to be carried into that conversation. Read the filings. Run the numbers. Document the decisions. Speak in your own voice.

That is the work. It always has been.

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

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

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

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Work on a major affordable and supportive housing project with roughly 1,000 new homes officially broke ground in East Flatbush this week. Gov. Kathy Hochul on Wednesday announced the start of work on the first phase of Sparrow Square, a redevelopment of the Kingsboro Psychiatric Center Campus, as part of the Vital Brooklyn initiative to build 4,000 affordable homes in Central Brooklyn. Designed by Adjaye Associates with Hill West Architects as architect of record, the first phase includes two 10-story buildings with 261 affordable apartments, including 117 supportive homes for formerly homeless New Yorkers.

Credit: Phillip Van Nostrand

Located at 681 Clarkson Avenue, Sparrow Square is being developed by Douglaston Development, Almat Urban, Breaking Ground, Brooklyn Community Services, the Center for Urban Community Services, Jobe Development, and the Velez Organization. Upon completion, the redevelopment will include roughly 1,000 affordable and supportive homes.

The project is part of the $1.4 billion Vital Brooklyn Initiative, launched by former Gov. Andrew Cuomo in 2017 to address long-standing disparities in Brooklyn and create a model for community development and wellness in some of the borough’s most underserved neighborhoods. A request for proposals for the site was issued in the summer of 2020 and selected in July 2021.

Residents will have access to shared amenities, including a fitness center, bike storage, landscaped terraces, and on-site supportive services. The site will also include a roughly 10,000-square-foot facility for Brooklyn Ballet, expanding access to arts and cultural programming.

The project will also create Sparrow Way, a new private drive running parallel to East 43rd Street that will integrate the site into the surrounding street grid.

Both buildings will be constructed to meet Passive House sustainability standards and use all-electric systems, solar panels, and green roofs. The project will also include street infrastructure such as electric vehicle chargers and sustainable stormwater management systems.

The project site. Credit: Mike Groll/Office of Gov. Kathy Hochul on Flickr

Breaking Ground secured $242 million in financing for Phase 1 in December through a combination of tax-exempt bonds, subsidies, tax credits, and funding from New York State Homes and Community Renewal, the state Homeless Housing and Assistance Corporation, and the state Office of Mental Health.

The Urban Investment Group at Goldman Sachs Alternatives is providing nearly $240 million in additional financing for Phase 1. Construction is slated for completion in the first quarter of 2029.

“Today’s groundbreaking represents far more than a milestone of a development—it marks another step towards the beginning of a new community,” Jeff Levine, founder and chairman of the Douglaston Companies, said.

“Sparrow Square will transform this site into a place where families, seniors, and individuals have access to high-quality affordable housing, supportive services, homeownership opportunities, and welcoming public spaces,” he added.

Hochul also announced the completion of Utica Crescent on Thursday, a 322-unit affordable and supportive housing project built on a former parking lot adjacent to Kingsbrook Jewish Medical Center. The project was first announced in July 2020.

Another component of the Vital Brooklyn Initiative, the project includes 322 units for households earning up to 80 percent of the area median income; 89 units include on-site supportive services for eligible elderly residents. The building also includes a health care center operated by One Brooklyn Health System, retail space, a grocery store, a community facility, and recreational space.

With Sparrow Square, Utica Crescent, and other developments, including The Rise in Brownsville, Alafia Phase 1 in East New York, and Herkimer Gardens in Bedford-Stuyvesant, more than 2,500 homes have been completed or are under construction as part of the initiative.

“These two transformative developments in East Flatbush bring the promise of the Vital Brooklyn Initiative to life – creating affordable apartments and expanding access to health and community services in an area of the city that has been underserved for decades,” Hochul said.

“These investments put the health and well-being of the developments’ residents and the surrounding neighborhood at the forefront and bring us closer to creating a more equitable Brooklyn where everyone has a fair shot at a brighter future.”

RELATED:

The post 1,000-unit affordable and supportive housing project breaks ground in East Flatbush first appeared on 6sqft.

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Work on a major affordable and supportive housing project with roughly 1,000 new homes officially broke ground in East Flatbush this week. Gov. Kathy Hochul on Wednesday announced the start of work on the first phase of Sparrow Square, a redevelopment of the Kingsboro Psychiatric Center Campus, as part of the Vital Brooklyn initiative to build 4,000 affordable homes in Central Brooklyn. Designed by Adjaye Associates with Hill West Architects as architect of record, the first phase includes two 10-story buildings with 261 affordable apartments, including 117 supportive homes for formerly homeless New Yorkers.

Credit: Phillip Van Nostrand

Located at 681 Clarkson Avenue, Sparrow Square is being developed by Douglaston Development, Almat Urban, Breaking Ground, Brooklyn Community Services, the Center for Urban Community Services, Jobe Development, and the Velez Organization. Upon completion, the redevelopment will include roughly 1,000 affordable and supportive homes.

The project is part of the $1.4 billion Vital Brooklyn Initiative, launched by former Gov. Andrew Cuomo in 2017 to address long-standing disparities in Brooklyn and create a model for community development and wellness in some of the borough’s most underserved neighborhoods. A request for proposals for the site was issued in the summer of 2020 and selected in July 2021.

Residents will have access to shared amenities, including a fitness center, bike storage, landscaped terraces, and on-site supportive services. The site will also include a roughly 10,000-square-foot facility for Brooklyn Ballet, expanding access to arts and cultural programming.

The project will also create Sparrow Way, a new private drive running parallel to East 43rd Street that will integrate the site into the surrounding street grid.

Both buildings will be constructed to meet Passive House sustainability standards and use all-electric systems, solar panels, and green roofs. The project will also include street infrastructure such as electric vehicle chargers and sustainable stormwater management systems.

The project site. Credit: Mike Groll/Office of Gov. Kathy Hochul on Flickr

Breaking Ground secured $242 million in financing for Phase 1 in December through a combination of tax-exempt bonds, subsidies, tax credits, and funding from New York State Homes and Community Renewal, the state Homeless Housing and Assistance Corporation, and the state Office of Mental Health.

The Urban Investment Group at Goldman Sachs Alternatives is providing nearly $240 million in additional financing for Phase 1. Construction is slated for completion in the first quarter of 2029.

“Today’s groundbreaking represents far more than a milestone of a development—it marks another step towards the beginning of a new community,” Jeff Levine, founder and chairman of the Douglaston Companies, said.

“Sparrow Square will transform this site into a place where families, seniors, and individuals have access to high-quality affordable housing, supportive services, homeownership opportunities, and welcoming public spaces,” he added.

Hochul also announced the completion of Utica Crescent on Thursday, a 322-unit affordable and supportive housing project built on a former parking lot adjacent to Kingsbrook Jewish Medical Center. The project was first announced in July 2020.

Another component of the Vital Brooklyn Initiative, the project includes 322 units for households earning up to 80 percent of the area median income; 89 units include on-site supportive services for eligible elderly residents. The building also includes a health care center operated by One Brooklyn Health System, retail space, a grocery store, a community facility, and recreational space.

With Sparrow Square, Utica Crescent, and other developments, including The Rise in Brownsville, Alafia Phase 1 in East New York, and Herkimer Gardens in Bedford-Stuyvesant, more than 2,500 homes have been completed or are under construction as part of the initiative.

“These two transformative developments in East Flatbush bring the promise of the Vital Brooklyn Initiative to life – creating affordable apartments and expanding access to health and community services in an area of the city that has been underserved for decades,” Hochul said.

“These investments put the health and well-being of the developments’ residents and the surrounding neighborhood at the forefront and bring us closer to creating a more equitable Brooklyn where everyone has a fair shot at a brighter future.”

RELATED:

The post 1,000-unit affordable and supportive housing project breaks ground in East Flatbush first appeared on 6sqft.

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Aldi is launching a limited-time giveaway of mystery grocery bundles, offering shoppers a chance to claim free boxes containing surprise products.

The discount grocer said it will release a new themed “ALDI Blind Box” each day from June 22 through June 25. The boxes will be available while supplies last.

Shoppers can claim one box per day beginning at noon ET by visiting AldiBlindBox.com. The boxes will be distributed on a first-come, first-served basis and shipped directly to consumers.

YUM BRANDS SELLS PIZZA HUT FOR $2.7B, SHARPENS FOCUS ON TACO BELL AND KFC

The offerings include a Snack Blind Box, a Fiber Blind Box, a Protein Blind Box and a Mystery Blind Box containing products from across the store.

INFLATION ROSE AGAIN IN MAY AS ELEVATED ENERGY PRICES SQUEEZE CONSUMERS

The promotion is based on the “blind box” format, in which consumers do not know the contents of a package until it is opened. The concept has gained popularity across several retail categories, including collectibles, beauty products and apparel.

The promotion comes as food prices remain elevated. High inflation has created severe financial pressures in recent years for most U.S. households, which are forced to pay more for everyday necessities like food and rent. Price hikes are particularly difficult for lower-income Americans, because they tend to spend more of their already-stretched paychecks on necessities and have less flexibility to save.

INFLATION IS SQUEEZING AMERICAN CONSUMERS AND THE FED’S LATEST REPORT SHOWS IT’S GETTING WORSE

Food prices were up 0.2% in May and are 3.1% higher than a year ago. The food at home index was up 0.1% for the month and 2.7% compared with last year. The food away from home index rose 0.3% on a monthly basis and 3.5% year over year.

Meats, poultry and fish prices were down 0.4% in May but are up 6.2% from last year. Beef and veal prices fell 1.6% for the month but remain up 12.9% on an annual basis. Egg prices increased 4% in May but are down 35.2% year over year as supply normalized after an avian flu outbreak. Fruits and vegetables prices rose 0.2% for the month and are up 6.1% from a year ago.

Aldi said many of the products included in the giveaway can also be found in stores nationwide and through its rotating ALDI Finds program.

CLICK HERE TO GET FOX BUSINESS ON THE GO

The company said the giveaway will run for four days, with a different themed box available each day.

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New applications for unemployment benefits declined last week, offering another sign that layoffs remain relatively low even as the U.S. labor market continues to cool.

The U.S. Department of Labor reported Thursday that initial jobless claims fell to 226,000 for the week ending June 13, down 4,000 from the previous week’s revised total of 230,000. The result was slightly above economists’ expectations of 225,000.

While the decline pulled claims back from a four-month high reached earlier this month, filings remain near the upper end of the range that has defined 2026. Weekly claims have largely fluctuated between 190,000 and 230,000 throughout the year.

The more concerning trend is appearing beneath the headline number.

Continuing claims — which measure the number of Americans still receiving unemployment benefits after their initial filing — rose by 24,000 to 1.81 million for the week ending June 6. The insured unemployment rate remained unchanged at 1.2%.

The increase suggests that while employers are not conducting widespread layoffs, workers who lose jobs are finding it more difficult to secure new positions.

The average unemployed American spent 11.6 weeks searching for work in May, up from 11.0 weeks in April and the longest average job search since November 2021.

The data points to a labor market that is slowing through reduced hiring rather than rising layoffs. Businesses appear reluctant to let workers go but are also becoming more selective about adding new employees.

Earlier increases in claims were concentrated in Pennsylvania, Minnesota, California, Texas, and Puerto Rico. State officials attributed the increases to layoffs in transportation, warehousing, hospitality, administrative support, healthcare, and education sectors. Seasonal filings from school employees during summer break also contributed to some of the rise.

Claims filed by federal workers have increased modestly amid efforts to reduce portions of the government workforce but continue to represent a small share of overall filings.

On an unadjusted basis, unemployment claims remain slightly below year-ago levels, with approximately 220,000 filings last week compared with roughly 235,000 during the same period in 2025.

The report aligns with other recent labor-market data showing moderation rather than deterioration. Employers added 172,000 jobs in May, while average monthly job growth over the past three months stands at approximately 188,000. The unemployment rate has remained steady at 4.3% for three consecutive months.

Because consumer spending drives roughly two-thirds of U.S. economic activity, economists closely monitor jobless claims as an early indicator of future demand. As long as layoffs remain contained, household income and spending should remain relatively stable.

For workers, however, the message is more nuanced. Job security remains solid for those currently employed, but those entering the job market may face a longer and more competitive search process.

The claims report also covers the period used by the government to calculate June’s monthly employment report, making it an important indicator ahead of next month’s jobs data.

For now, the labor market appears to be cooling gradually rather than weakening sharply.

JBizNews Desk

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Bryan Choe, Head of Research at RWA.xyz, says the tokenized real-world asset market is entering a new phase,  but warns that the industry still misunderstands what is required to turn tokenized products into functioning markets.

With roughly $30 billion worth of tokenized real-world assets on-chain and major financial institutions increasingly experimenting with tokenized products and blockchain-based distribution models, a growing number of market participants view tokenization as one of the most important trends shaping the future of finance.

Yet the market’s most important questions have changed and whether assets can be tokenized is no longer questioned. The debate rises up whether tokenization can create functioning markets around those assets. While issuing a token is pretty straightforward, what is far more complicated is building liquidity and infrastructure, along with distribution and user trust.

To better understand where tokenization stands today—and where it may be heading next—I spoke with Bryan Choe, Head of Research at RWA.xyz, a data and analytics platform tracking tokenized real-world assets across public blockchains.

On-Chain Capital Markets Are Still in Their Infrastructure Phase   

According to Choe, one of the biggest misconceptions about tokenization is that it was always a technology problem: 

“Every market needs infrastructure and participant buy-in to develop, and tokenization is no exception.” 

Actually, tokenization remained largely a niche concept for years, although the technology already existed.

It was institutions that first brought tokenized assets closer to the financial mainstream. Custodians, broker-dealers, fund administrators, auditors, oracles, and other service providers entered the ecosystem, making institutional investors increasingly comfortable holding and transacting in tokenized assets, according to Choe, and not because the technology improved overnight. 

The second catalyst came from stablecoins, which Choe sees as the capital base that made today’s tokenized asset market possible. The rapid growth and broader acceptance of stablecoins since 2022 helped create the conditions for tokenized assets to scale.

“We view total stablecoin market capitalization as a useful proxy for on-chain ‘dry powder’ that can rotate into tokenized assets.”

At the same time, the macro environment changed. Higher interest rates and declining DeFi yields after the 2022 bear market pushed crypto-native capital toward tokenized Treasury products, he notes.

On the institutional side, asset managers began looking at tokenization through a different lens — not only as a cost-saving tool, but also as a revenue opportunity.

“BlackRock’s 2024 launch of BUIDL helped establish a playbook and encouraged other financial institutions to tokenize existing products or launch new ones,” he argues.

That difference between institutional and crypto-native demand helps explain why the first scalable use cases did not follow the consumer-focused narrative.

“We are still in the early stages of building a new on-chain capital market, and liquidity infrastructure use cases are the first major phase of this evolution.”

As Choe puts it:

“For the reasons above, crypto-native capital initially moved into tokenized Treasury products for treasury management and yield. From there, onchain allocators have become more comfortable venturing out the risk curve as they have become more comfortable with additional structural risks that tokenized assets carry. Some investors are now seeking longer-duration or higher-risk opportunities that can generate incremental yield. We expect this progression to continue as onchain capital markets mature.”

According to him, it is also worth distinguishing these products from non-yielding assets such as tokenized stocks and commodities, which are seeing stronger consumer-facing adoption in certain markets.

“These products provide easier access to dollar-denominated assets for offshore and non-U.S. users, particularly those already using stablecoins,” he explains.

The Rise of Exposure Without Ownership

While tokenized Treasury products have attracted capital looking for yield and operational efficiency, another corner of the market has been growing for almost the opposite reason: exposure.

Recent months have seen rapid growth in synthetic RWA products and equity-linked perpetuals, highlighting demand that extends well beyond traditional notions of ownership.

“This shows that the market is split into two broad segments: participants who want exposure to an asset’s price performance, and participants who want ownership of the underlying asset,” Choe says.

According to Choe, demand currently appears strongest from the first group. Many of the characteristics that made crypto markets attractive in the first place — leverage, 24/7 trading, and frictionless directional exposure — naturally translate to synthetic RWA products.

Actual tokenized securities are much harder.

“They are directly connected to the underlying securities and therefore need to account for corporate actions, transfer-agent integration, custody, disclosures, redemption mechanics, voting rights, tax treatment, and legal enforceability. …

Full story available on Benzinga.com

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Tensions between Brussels and Jerusalem have escalated sharply over the past 24 hours. Israeli Foreign Minister Gideon Sa’ar announced that he is severing all contact with European Union foreign policy chief Kaja Kallas until she issues an apology to Israel, following reports that she referred to Israel as an “apartheid state.” Kallas responded that “dialogue is the foundation of diplomacy.”

“The European Union’s position has always been that a two-state solution remains the only viable path to achieving lasting peace in the Middle East,” EU Ambassador to Israel Michael Mann told The Jerusalem Post when asked about the reported “apartheid” remark.

Asked whether the comments signaled a shift in Brussels’ approach, Mann was clear.

“I’m not really going to comment on an unofficial quote from an anonymous official who said that this was said. I simply cannot comment on that,” Mann said, before reiterating the EU’s official position: “It is not the official policy of the European Union that Israel is an apartheid state. I want to make that absolutely clear.”

The EU ambassador’s office in Israel is rarely quiet, and Mann’s tenure, which began in September 2025, comes during one of the most turbulent periods in EU-Israel relations.

“The starting point is that Israel and the European Union are very close partners,” Mann stressed. “Historically, we have an extremely close relationship. Israel is deeply integrated with the EU. It participates in the Horizon research cooperation program. So, at its core, the relationship is very deep.”

EU-Israel relationship going through ‘tough times’

However, he quickly acknowledged current strains.

“I would be lying if I said the relationship is not going through a more difficult period right now,” he admitted.

Some Israeli officials argue that the European Union is disproportionately focused on the Israeli-Palestinian conflict while ignoring worse human rights violations elsewhere. Mann rejected that claim as “a complete misrepresentation.”

“There are problems all over the world, and it would be completely misleading to imagine that we make harsher comments about Israel than about any other country,” he said.

To illustrate his point, Mann cited Europe’s response to Russia’s war in Ukraine.

“Look at the situation with Russia. Just this week, we adopted our 21st sanctions package against Russia.”

He added that perceptions of bias are often shaped by media framing.

“Through the lens of the Israeli media, it may appear that we are treating Israel with particular unfairness, but we base our policies on how we assess developments on the ground,” he said. 

During the interview, Mann was also asked about a recent incident that raised questions in Israel about EU policy. The EU criticized Israel’s interception of a Gaza-bound flotilla and the detention of foreign nationals aboard. However, when footage later emerged in Spain showing police allegedly beating some of those activists, the EU did not publicly respond.

“There was a decision by the Israeli authorities to intercept the flotilla in international waters and to process the people quickly and deport them back to their home countries, and that was why there was criticism. There was also this incident in Spain, and no one is condoning that either,” Mann said. “So, let’s be accurate about these things.”

Europe concerned over West Bank settler violence 

One issue that has united even pro-Israel EU member states in criticism of the current Israeli government is violence by extremist Israelis against Palestinians in the West Bank.

“We are very concerned,” Mann said. “There have been multiple cases of violent extremists entering Palestinian communities, setting fire to cars and property, uprooting trees, and stealing livestock.”

He expressed frustration at the difficulty in addressing the issue.

“For you, this should not be such a major problem,” Mann said. “Israel’s civilian authorities and police are highly efficient. It is somewhat difficult for us to understand why it is so hard to tackle this issue more effectively.”

The issue has also led some EU member states to consider sanctions against Israeli officials, including National Security Minister Itamar Ben-Gvir.

Mann confirmed that discussions are ongoing but remain legally and politically complex.

“The issue was discussed again by foreign ministers this week in Luxembourg,” he said. “There is currently no consensus, because such a decision requires unanimity among all 27 member states. At this stage, there is no agreement.”

Asked what could justify sanctions against a democratically elected minister in a friendly country, Mann pointed to core EU principles.

“If we were to impose sanctions on individuals, it would be because of actions that we believe violate basic human rights and democratic principles,” he said.

He also referenced Ben-Gvir’s conduct during a recent flotilla incident.

“What we saw from Minister Ben-Gvir—going to be photographed with those detained from the flotilla, and in a video he released one individual appeared to be beaten—was, for many people in Europe, unacceptable. He was clearly there to provoke people, and that is why there was criticism.”

Economically, the EU remains Israel’s largest trading partner, a fact Mann highlighted as evidence of deep interdependence.

Still, political tensions are spilling into trade discussions. Several EU member states have proposed tariffs on—or even bans of—products originating from Jewish settlements in the West Bank.

“Some member states have recently put forward proposals to impose tariffs on such products or prohibit them altogether,” Mann said. “This is currently being discussed in Brussels.”

He cautioned that it is too early to know what will happen.

“At this stage, it is impossible to say whether a concrete proposal will be put forward, or how member states would respond and whether they would vote in favor.”

Reflecting on the war in Gaza, Mann said conditions have improved, but concerns remain over its conduct.

“There was a period when humanitarian aid deliveries were completely blocked from entering Gaza. That was problematic for us. We felt that the number of civilian casualties toward the later stages of the war was unnecessarily high.”

He also pointed to political rhetoric in Israel as a complicating factor.

“It does not help that there is quite a lot of rather heated rhetoric coming from Israeli authorities at times,” he said. “I understand that this is an election period, but I think it would be helpful if the rhetoric could be toned down so that we can have a somewhat calmer discussion.”

Despite ongoing disputes, Mann emphasized a pragmatic outlook for EU-Israel relations.

“I think it is clear that we need Israel, and Israel needs us,” Mann concluded. “We have a very deep historical relationship. We need each other. There are so many areas in which we can benefit from one another. There is so much potential and so many opportunities.”
 

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Mortgage applications for new home purchases rose 3.8% year over year in May but fell 3% from April, according to the Mortgage Bankers Association (MBA)’s Builder Application Survey, released Thursday. The figures are not seasonally adjusted.

New home purchase activity softened during the month, with the MBA estimating new home sales at a seasonally adjusted annual rate of 642,000 units in May, down 2% from April’s pace of 655,000.

“New home purchase activity slowed in May, with MBA’s estimate of new home sales declining to 642,000 units,” Joel Kan, MBA’s vice president and deputy chief economist, said in a statement. “Even as home builders continue to offer concessions to increase sales, homebuyers have been hesitant because of higher prices, increased economic uncertainty, and mortgage rates averaging over 6.5% in May.”

On an unadjusted basis, MBA estimated 58,000 new home sales in May, down 3.3% from 60,000 in April.

The survey uses mortgage application data from homebuilder subsidiaries, along with market assumptions, to produce early estimates of new home sales ahead of the U.S. Census Bureau’s official report.

By loan type, conventional loans accounted for 49.6% of applications. Federal Housing Administration (FHA) loans were 35.6% of applications, U.S. Department of Veterans Affairs (VA) loans were 13.7% and U.S. Department of Agriculture (USDA) loans were 1.1%.

The average loan size declined from $378,384 in April to $372,825 in May.

“The average loan size to purchase a new home was at the lowest level in 10 months at $372,825, consistent with government loans accounting for more than half of applications for the fifth consecutive month,” Kan said.

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication.

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Summit Sotheby’s International Realty has cemented its position as a leading Utah brokerage, placing more real estate professionals on the 2026 RealTrends Verified rankings than any other firm in the state.

The firm represented 39 of Utah’s top 100 agents by sales volume and 40% of the state’s top 25 agents.

That includes the No. 1 ranked individual agent in Utah by sales volume, Michael LaPay, who reported just over $193 million in volume. Summit Sotheby’s also counts the No. 7, No. 8 and No. 11 ranked agents among its ranks — along with three more in the top 20.

The company recorded more than $4.5 billion in 2025 sales volume.

Chief Marketing Officer Tiffany Fox attributed the firm’s performance to a consistent focus on service quality rather than scale.

“Truthfully, we’ve never set out to be the biggest, but we’ve set out to be the best,” she told HousingWire. “What that looks like for us is kind of putting blinders up and ignoring what any other real estate firm or brokerage or trend is happening, and focusing on what our mission statement has been, which is to provide our advisors with world-class exceptional real estate support that is highly innovative.”

Founded in 2008 by Thomas Wright — who serves as CEO and principal broker — the firm has grown to just shy of 300 advisors serving the entire state of Utah.

Its footprint spans urban markets in the greater Salt Lake City area, destination ski communities like Park City and Deer Valley as well as desert markets including Moab and St. George.

Recent innovations

Fox said the brokerage recently deployed a suite of new technology communication platforms designed to give advisors real-time access to marketing efforts.

“We developed an entire platform because we interviewed so many technology platforms with the innovations that we’ve really wanted to go after, and what we determined is that none of those platforms, with all due respect to them, were good enough for our advisors in the way that we coach them to do business,” she said. “We built in-house — from the ground up — an entire platform to replace old platforms for them to a be able to communicate more effectively.

“Think of it like as a pizza tracker with Domino’s. You know where your pizza is or you know where your Uber driver is. Same story with all of the marketing efforts on any of their listings.”

Summit Sotheby’s maintains a 40-person in-house creative agency and has deployed additional videography and photography services to help agents position their properties.

The firm also employs what it calls a “property launch” strategy designed to create an authoritative first impression.

“We know that you only have one opportunity to make a first impression online,” Fox said. “Anyone can place an ad and have thousands and thousands of views on a property, but are those views qualified? Most of the time, no. That’s a lot of why our agents perform at the level in which they do, is because we don’t treat our business like the industry norms in any capacity.

“We generate more eyes, more interest, more understanding and knowledge of our properties than our competitors. Then, the proof is sort of in the pudding of the results.”

Communication as a foundation

Fox emphasized that the firm’s approach to client communication transcends price points and market segments.

The brokerage provides a communication report to every client that breaks down every portion of the transaction — including marketing efforts in chronological order, showing feedback, open house data, online traffic and zip code analytics.

“We deliver that every single week, and we have found, regardless of area or price point, that it truly differentiates us,” said Fox. “It also eliminates so many of the questions, the anxiety, the fears, and calms the entire situation down.”

For high-end luxury clients, the conversation shifts to lifestyle aspirations.

“When we really do [insert] ourselves into that super high luxury market, no one truly needs a $40 million property,” Fox said. “These are lifestyle decisions that people are making. Our conversations with them can be described as, ‘Wave your magic wand. What does your perfect day look like?’ Because, especially when we look in a ski marketplace, there’s a wide variety.

“There’s questions like, are your children skiers or snowboarders? We have skiers only mountains and there are skier and snowboarder mountains. How private do you want to be? What about land? Are you okay being 20 or 30 minutes up the mountain and away from gas stations and grocery stores?”

Utah’s market momentum

The firm’s success comes as Utah continues to attract buyers from coastal markets and beyond.

Fox pointed to major developments including the impending return of the Olympic Games to the greater Salt Lake City area and significant ski resort expansion work.

“We are so fortunate to call Utah home because of that differing lifestyle component, but also the investment that the state makes into growth and new business,” she said. “Because of all of these things, our demand continues to increase and to remain steady.”

Salt Lake City International Airport, which recently underwent a multi-billion-dollar renovation, has increased direct flights to major markets and European destinations.

Fox also noted the growth of “Silicon Slopes,” where companies like Adobe have established major hubs — bringing workforce relocations from coastal areas.

“Those nuances are what continue to make Utah one of best places to live, where people are moving to,” she said. “We’re seeing immense traction, properties going under contract, property selling, cash buyers and traditional financing buyers as well. Our market continues to thrive, despite what you may hear in the headlines.

“We handle the entire buyer and seller spectrum. It’s a luxury experience and a luxury brand of delivery, regardless of area or price point.”

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Apple plans to raise prices on some of its products as a global memory-chip shortage fueled by artificial intelligence demand drives costs sharply higher, according to comments by Chief Executive Tim Cook published Wednesday.

Speaking about the growing strain on the semiconductor supply chain, Cook said the company has absorbed higher component costs for as long as possible but can no longer shield customers completely.

“Unfortunately, price increases are unavoidable,” Cook said.

At the center of the problem is a surge in demand for memory chips used in AI data centers. The same memory technologies that power smartphones, tablets, and laptops are now being consumed in enormous quantities by companies building the infrastructure behind artificial intelligence.

As a result, memory manufacturers are increasingly prioritizing production for higher-margin AI server chips rather than components destined for consumer electronics.

That shift is putting pressure on companies such as Apple, which purchases massive quantities of memory and storage chips for products including the iPhone, iPad, and Mac.

Cook pointed specifically to shortages in DRAM, a critical type of memory used throughout Apple’s product lineup. He said growing demand for advanced memory used in AI servers has tightened supplies across the broader market and pushed prices significantly higher.

The CEO compared current market conditions to a once-in-a-century event, saying he had never seen anything similar during more than four decades in the technology industry.

Industry analysts say the financial impact could be substantial.

Research firm TechInsights estimates Apple could need to increase the price of its next-generation iPhone 18 Pro by roughly $270 to fully preserve current profit margins if memory costs remain elevated.

Apple has already taken smaller steps that effectively increased pricing in certain product categories. The company recently eliminated lower-priced configurations of several desktop computers, raising entry-level purchase prices without formally announcing broad price hikes.

The timing presents additional challenges because Apple is preparing to launch a new wave of AI-enabled products.

The company is expected to introduce its first foldable iPhone alongside the iPhone 18 Pro lineup later this year. New AI features require additional memory capacity, increasing Apple’s dependence on the very components currently experiencing the greatest shortages.

Cook indicated Apple is willing to use its financial resources to help secure supply but said the company has no intention of entering the memory-manufacturing business itself.

Instead, Apple will continue relying on suppliers including Samsung Electronics, SK Hynix, and Micron Technology, all of which are expanding production. However, much of that additional capacity is expected to be directed toward AI infrastructure rather than consumer devices.

The issue extends well beyond Apple.

Major technology companies including Samsung, Microsoft, Sony, and Dell have already implemented price increases tied to higher component costs. Industry groups representing retailers, automakers, and electronics manufacturers have also warned that ongoing shortages could lead to broader price increases across numerous consumer products.

For years, smartphones, laptops, and personal electronics were among the industry’s highest-priority customers. The rapid expansion of AI infrastructure is changing that dynamic, with data-center operators increasingly willing to pay premium prices for critical components.

Investors appeared relatively unfazed by the news. Apple shares slipped modestly during regular trading before recovering some ground after the interview was published.

For consumers, however, the message is straightforward.

The AI revolution powering Wall Street’s biggest technology boom is beginning to reach checkout counters. As data centers consume more of the world’s memory supply, the cost of everyday electronics is rising alongside it.

Unless memory supplies improve significantly, Apple customers should expect future devices to come with higher price tags.

JBizNews Desk
Cupertino, Calif.

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Sam Bankman-Fried told a fellow inmate he plans to launch his own coin upon release, according to a New York Magazine profile published Wednesday drawing on months of phone calls and an in-person prison visit.

Life At Lompoc: Pickleball, Pixel Dungeon, and a Vegan Cookbook

Bankman-Fried, 34, now lives at FCI Lompoc in California after transferring from Terminal Island this spring, roughly 30 pounds lighter and tanned from daily pickleball. 

He has played the mobile game Shattered Pixel Dungeon approximately 6,000 times, written a tongue-in-cheek Vegan Prison Cookbook, and spent months serializing a prison memoir called Manfred, distributed to a small email list through the prison’s CorrLinks system.

Beyond the games and writing, his daily routine revolves around CorrLinks terminals where he drafts X posts for his father to publish on his behalf, works on legal motions, and maintains outside …

Full story available on Benzinga.com

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Mexican billionaire Ricardo Salinas says Bitcoin (CRYPTO: BTC) remains his preferred financial asset, arguing that fiat currencies are being debased globally.

Investors should treat crypto more like long-term property than a short-term trade, according to the billionaire.

“I Turn Fiat Into Bitcoin

In a CoinDesk interview on June 17, Salinas highlighted his exposure to Bitcoin has increased during the recent market pullback. Over the past year, BTC prices plunged around 40%.

“As soon as I get my hands on some fiat, I turn it into Bitcoin,” Salinas said.

The Grupo Salinas chairman clarified that earlier comments about his wealth being heavily allocated to Bitcoin referred to his liquid financial portfolio, not his total net worth, which includes businesses, homes, boats, planes and other real assets.

Salinas said about 80% of his liquid investment portfolio is now …

Full story available on Benzinga.com

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One of America’s most prominent African American voices is making a public case for recognizing Jews as a minority community deserving protection and support.

Van Jones, the CNN political commentator, attorney, and civil rights advocate, has joined the advisory board of the Genesis Prize Foundation, the organization announced Wednesday. In remarks accompanying the announcement, Jones pointed to the small size of the global Jewish population and argued that humanity has a special responsibility to stand with a people who have endured centuries of persecution and whose numbers were devastated by the Holocaust.

“There are only about 15 million Jews left in the world,” Jones said in a video released by the foundation, noting that the Jewish population is tiny compared with the world’s largest religious and ethnic groups. He argued that the Jewish community would be significantly larger today had it not suffered generations of violence, discrimination, expulsions, and ultimately the Holocaust.

Jones also highlighted the unique position of Israel, which is home to roughly half of the world’s Jewish population.

“When a group that small comes under attack, humanity has a special responsibility to defend them,” he said, while emphasizing that criticism of Israeli government policies remains legitimate. What he rejects, however, is the idea that support for the Jewish state itself should be abandoned.

“We already ran a 3,000-year experiment where Jews did not have a state,” Jones said, arguing that history demonstrated the dangers of Jewish statelessness.

The appointment carries added significance because Jones is framing the issue as one minority community standing in solidarity with another. A longtime civil rights leader, Jones said one of his goals on the board will be helping rebuild the historic alliance between Black and Jewish Americans.

“Together, Black and Jewish Americans have written some of the most important chapters in the story of American democracy,” Jones said. While acknowledging tensions and divisions in recent years, he argued that the relationship remains too important to abandon amid rising antisemitism and increasing political polarization.

Stan Polovets, co-founder and chairman of the Genesis Prize Foundation, praised Jones’s record of coalition-building and public leadership.

“Van Jones brings moral clarity, public credibility, and practical coalition-building experience,” Polovets said. “At a time of rising antisemitism, voices like his are essential.”

The foundation’s advisory board is chaired by former Soviet dissident Natan Sharansky, who spent eight years in Soviet prisons because of his pro-democracy activism and support for Jewish emigration rights. Sharansky said Jones’s appointment reflects the foundation’s belief that Jewish achievement carries with it a responsibility to engage with broader society and strengthen democratic values.

The Genesis Prize, often referred to as the “Jewish Nobel,” awards $1 million annually to individuals who have demonstrated exceptional professional achievement and commitment to Jewish values. According to the foundation, the prize has helped generate more than $50 million for charitable causes since its creation in 2013, supporting over 230 nonprofit initiatives in 31 countries.

The 2026 recipient is Israeli actress and producer Gal Gadot, whose award is being matched through the Jewish Funders Network, bringing total charitable giving associated with her prize to $2 million.

Jones’s comments also come as Jewish minority recognition has gained increasing attention in the United States.

In a landmark move, the U.S. Department of Commerce’s Minority Business Development Agency (MBDA) signed a Memorandum of Understanding with the Orthodox Jewish Chamber of Commerce on January 13, 2025, formally recognizing Jewish-owned businesses within the agency’s minority-business framework. The agreement marked the first time Jewish-owned businesses were granted access to programs traditionally available to other minority communities through the federal agency.

At the signing, then-Deputy Commerce Secretary Don Graves described the recognition as an overdue correction and praised the efforts of the Orthodox Jewish Chamber of Commerce in advancing the initiative. Greater New York Chamber of Commerce President Mark Jaffe called the move “long overdue,” while Duvi Honig, founder and CEO of the Orthodox Jewish Chamber of Commerce, described it as a historic achievement for the Jewish business community.

The timing of Jones’s appointment is notable. Antisemitic incidents have risen sharply in the United States and around the world, while longstanding partnerships between Black and Jewish organizations have faced strains in recent years.

Jones is placing his credibility as a civil rights leader behind the belief that those relationships can be rebuilt—and that a people numbering only about 15 million worldwide should not have to face growing threats alone.

JBizNews Desk

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U.S. Steel said in an updated economic impact analysis released June 8 that its Japanese parent, Nippon Steel, will spend between $2 billion and $2.5 billion to overhaul its Mon Valley Works complex in southwestern Pennsylvania over the next three years — more than double the amount the company first committed to when the two firms combined.

The centerpiece is a new, state-of-the-art hot strip mill that would replace an 87-year-old facility and, the company says, secure thousands of steel jobs for decades to come.

The plan calls for building the new mill at the Edgar Thomson plant in Braddock, Pennsylvania, while upgrading other parts of the Mon Valley Works.

The new mill would take the place of an aging hot strip mill at the nearby Irvin plant, which is set to be decommissioned.

U.S. Steel says the modern facility is designed to waste less material, use less energy, and turn out higher-quality steel, including the grades that supply American automakers and other manufacturers.

A hot strip mill is where steel slabs are reheated and rolled into the flat sheets used to make cars, appliances, and building materials — a core step in turning raw steel into finished products.

Modernizing it lets the plant make a wider range of higher-value steel.

The figure marks a sharp increase from the original pledge.

When Nippon Steel was negotiating its purchase of U.S. Steel in August 2024, it promised to spend at least $1 billion on a hot strip mill in the region.

The company is now weighing two larger blueprints — a $2 billion version and a $2.5 billion version — either of which would roughly double that early commitment.

The economic stakes for the region are considerable.

According to the analysis, the project could pump as much as $1.7 billion into Pennsylvania’s economy and support up to 6,381 jobs.

For the Mon Valley, a stretch of old steel towns east of Pittsburgh that has lost industrial work for generations, the spending lands as a rare promise of stable, good-paying employment.

The United Steelworkers union, which represents roughly 75% of U.S. Steel’s North American workforce, saw strong support for the merger among local members in Pennsylvania, in large part because of the investment commitments attached to it.

David Burritt, president and chief executive of U.S. Steel, framed the investment as proof that American steelmaking still has a future.

He said the project protects thousands of jobs and will supply U.S. manufacturers for generations, calling it an example of what investing in America looks like.

He also pointed to the region’s history, noting that the Mon Valley is where the American steel industry was first forged.

That history runs deep.

The Edgar Thomson plant has operated for more than 150 years and is the last integrated steel producer in Pennsylvania still running blast furnaces and basic oxygen furnaces.

It was opened in 1875 by Andrew Carnegie as part of Carnegie Steel, making this modernization a notable chapter for one of the country’s oldest continuously operating mills.

The new spending flows from one of the most closely watched corporate deals in recent years.

Nippon Steel completed its roughly $14.9 billion takeover of U.S. Steel in 2025 after a long and politically charged review.

As part of the agreement, Nippon Steel pledged to invest about $11 billion across U.S. facilities through 2028, keep U.S. Steel’s headquarters in Pittsburgh, and give the U.S. government unusual power to weigh in on major decisions.

The Mon Valley project is one piece of that broader commitment, which spans plants in several states and is meant to protect and create roughly 100,000 jobs.

For U.S. Steel, now the American arm of the world’s fourth-largest steelmaker, the bet is that pouring money into older mills can keep domestic production competitive against cheaper foreign steel and rivals at home.

For the towns around the Mon Valley Works, the more immediate question is simpler: whether the construction, and the jobs that come with it, arrives on schedule.

Pittsburgh — JBizNews Desk

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Rep. Ro Khanna, D-Calif., is backing President Donald Trump’s newly announced agreement with Iran aimed at formally ending the conflict between the U.S. and Tehran, while also raising questions about the economic commitments tied to the deal and whether similar attention is being paid to struggling American communities.

Khanna joined FOX Business’ Maria Bartiromo on “Mornings with Maria” to discuss the agreement, which includes commitments related to Iran’s future economic development and reconstruction and has drawn criticism and praise from lawmakers on both sides of the aisle.

Khanna said he supports ending the conflict through diplomacy, but argued the agreement comes with tradeoffs that deserve closer scrutiny. He pointed to provisions he said could require raising roughly $300 billion for Iran’s economic development and reconstruction, though he noted the funds would not come directly from U.S. taxpayers.

OIL PRICES FLUCTUATE AS TRUMP’S IRAN DEAL COULD FULLY REOPEN STRAIT OF HORMUZ

“We’re going to be on the hook to raise $300 billion for Iran’s economic development and reconstruction, not U.S. taxpayer money, but raising that money. Why aren’t we focused on the economic development and reconstruction of Middleton, Ohio? Johnstown, Pennsylvania,” Khanna said. 

The comments reflect a broader debate in Washington over how the U.S. balances foreign policy priorities with domestic economic concerns. Communities across parts of the industrial Midwest have spent decades grappling with factory closures, job losses and population decline, making investment in manufacturing and economic development a recurring political issue.

OIL PRICES PLUNGE TO LOWEST LEVELS SINCE EARLY MARCH AFTER TRUMP SIGNS IRAN DEAL

Khanna argued that while Trump has promoted efforts to revive American industry, more should be done to support manufacturing regions.

“What about the heartland and the building up of places that were industrialized? That simply hasn’t happened,” Khanna said.

Despite his concerns, Khanna urged fellow Democrats to support the agreement, saying he believes diplomacy remains preferable to a prolonged conflict.

“Americans are tired of these wars. They don’t want wars in the Middle East. They don’t want to be dragged in,” Khanna said. “They want diplomacy. Diplomacy actually is better than these wars.”

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Bitcoin (CRYPTO: BTC) dropped back below $63,000 on Thursday as the broader crypto market shed 4%.

Why Is Crypto Falling While AI Stocks Hit New Highs?

The divergence between crypto and AI-linked equities is widening sharply. 

Cipher Digital (NASDAQ:CIFR) hit new all-time highs up 10%, WhiteFiber (NASDAQ:WYFI) surged 15%, TerraWulf (NASDAQ:WULF) added 4%, Galaxy Digital (NASDAQ:GLXY) gained 4%, and IREN (NASDAQ:IREN) rose 3%.

Moreover, Kevin Warsh’s FOMC decision Wednesday is adding pressure. Warsh held rates but provided no forward guidance, leaving markets pricing only a 15% chance rates stay flat through December. 

Nine committee members already project a rate hike before year-end. The 2-year Treasury yield heading higher repeats the pattern seen before …

Full story available on Benzinga.com

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The most coveted machine in American cybercrime is neither a supercomputer nor a stolen laptop. It is the forgettable electronics humming in the corner of the living room — the discount streaming stick, the digital picture frame, the aging router no one has signed into in years. Hackers prize them not for anything stored inside, but for the single asset they carry that a server farm cannot counterfeit: a genuine American home address on the internet.

That asset is the through-line of an investigation disclosed Wednesday, in which Comcast’s Threat Research Lab, working with Microsoft, traced sophisticated intrusions back to ordinary household devices. The findings answer a question that has unsettled the security industry for two years: why the humblest gadget in the house has become an instrument of espionage.

The logic is reputational. Every connected device announces an internet address, the digital equivalent of a return address on an envelope. Defensive systems extend trust unevenly — traffic from a data center or a known anonymizer invites scrutiny, while traffic from a family’s broadband line reads as a neighbor shopping or streaming. Attackers exploit that trust by routing their operations through the home connection, so the activity arrives bearing the resident’s identity. The industry calls the arrangement a residential proxy; Comcast has likened it to a forged return address, illicit mail dispatched through an unwitting household’s mailbox.

The supply of borrowable homes has grown rapidly. In a public advisory issued March 12, the Federal Bureau of Investigation warned that inexpensive internet-connected electronics — including streaming boxes, older Wi-Fi routers, smart TVs, security cameras, digital picture frames, smart plugs, baby monitors, and other smart-home devices — are increasingly arriving in the United States with concealed “backdoor” software preinstalled. The bureau said the same code is also being threaded into free mobile applications and pirated video games. Some devices, the FBI cautioned, are compromised before they leave the factory, and a standard reset will not reliably remove the infection.

Others are conscripted the moment a consumer installs a free virtual private network, a bandwidth-for-cash application, or a bargain smart-home product whose consent terms are buried deep in the fine print.

The disguise is formidable because it is, by design, indistinguishable from everyday life. Research published this month by Infoblox, a network-security firm, found that more than 65% of its enterprise cloud customers connected to residential-proxy services during 2026. Monthly lookups associated with these networks climbed from roughly 400 billion in early 2025 to more than 500 billion by April 2026, and surfaced across every industry surveyed — including more than 90% of pharmaceutical and food-and-beverage companies and more than 60% of government and banking customers. The resilience is equally striking: when Google dismantled a leading provider, IPIDEA, in January, the traffic redistributed to competitors within a single day.

The expense ultimately settles on the enterprise whose identity is borrowed. Dr. Renée Burton, vice president of threat intelligence at Infoblox, said the services allow outside parties to trade on a company’s reputation and internet identity to commit crimes. The practical consequences are corrosive: legitimate email blocked as spam, customer logins mistaken for fraud, and security teams consumed by false alarms — all because a firm’s addresses surfaced in a proxy pool it never sanctioned. The artificial-intelligence boom has intensified the pressure, with Infoblox attributing part of the recent surge to companies harvesting web data for AI training, a use that blurs the boundary between routine commerce and criminal cover.

The episode that exposed the pattern underscores its reach. A telephone call more than two years ago between a senior Microsoft security executive and a counterpart at Comcast led investigators to Midnight Blizzard, a group tied to Russia’s foreign intelligence service, which had reached the email accounts of Microsoft’s senior leadership while sheltering behind consumer connections.

In the near term, the remedies are modest and rest largely with individuals. The FBI counsels against streaming boxes that advertise free movies and sports, discourages free VPN downloads, and urges reliance on official app stores, strong passwords, and current software updates. Consumers should also replace aging routers that no longer receive security support and avoid internet-connected devices from manufacturers that do not regularly issue software patches.

The longer reckoning concerns accountability. Burton contends that regulators should require clear, informed consent before any device is enrolled in a proxy network, much as disclosure rules reshaped the use of web cookies. Absent that, the economics continue to favor the intruder: a compromised gadget costs only a few dollars, while the household — and the corporation whose name it borrows — absorbs the reputational bill, often without ever learning the device was quietly working elsewhere.

JBizNews Desk

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A broad coalition of banking and housing finance trade groups is urging federal regulators to scale back parts of the proposed Basel III capital rules, arguing that overlapping requirements and elevated risk weights could unnecessarily restrict lending and economic growth.

The Mortgage Bankers Association (MBA), the Community Home Lenders of America (CHLA) and several other groups submitted comment letters this week to the Office of the Comptroller of the Currency, the Federal Reserve and the Federal Deposit Insurance Corp.

The groups said that while the Basel reproposal is a “step in the right direction” compared to the 2023 version, it still includes areas of “overcapitalization” that they say are not well aligned with underlying risk. They said the framework would benefit from additional tailoring to the structure of the U.S. financial system, particularly in mortgage lending, servicing and warehouse financing.

In a joint statement, a coalition that includes the Consumer Bankers Association, the American Bankers Association, the Bank Policy Institute, the Financial Services Forum and the U.S. Chamber of Commerce said the proposal “represents a significant improvement over the previous version,” noting progress in simplifying the framework and better aligning capital requirements with risk.

“However, some overlapping requirements remain, leading to excessive capital charges for certain risks. Our recommended changes would further improve risk sensitivity and reduce unnecessary complexity, advancing the proposal’s stated goals. The changes will ultimately benefit bank customers and the economy while promoting a sound banking system,” the statement read.

In their 41-page letter, the groups urged regulators to reduce overlap between the stress capital buffer and the proposed rule, particularly for operational risk. They recommended applying a uniform 12% business indicator coefficient, along with revisions to market risk and credit valuation adjustment frameworks, to eliminate what they described as “double counting” between stress testing and capital requirements.

They also called for retaining current definitions of “commitment” and “unconditionally cancelable,” warning that proposed changes would introduce ambiguity, increase uncertainty in the capital framework and potentially raise lending costs.

To support mortgage market activity, the groups recommended cutting the risk weight for appropriately hedged mortgage servicing assets to 100% from 250%. They also recommended an implementation date no earlier than Jan. 1, 2028, to allow adequate time for compliance and to better align timing with the forthcoming stress test rule.

MBA, CHLA pen separate letters

MBA, in its own 32-page letter dated June 18, said banks play a central role in mortgage lending, mortgage servicing, warehouse financing for independent mortgage banks (IMBs) and commercial real estate lending. The trade group argued that capital rules should preserve banks’ ability to provide liquidity across those markets.

MBA recommended reducing the proposed 250% risk weight on mortgage servicing assets (MSAs) to no more than 100%, and it called for adjustments to warehouse lending rules to better align capital treatment with the risk of underlying mortgage collateral.

It also urged regulators better to recognize private mortgage insurance in residential mortgage capital calculations and to reduce capital burdens on certain securitization exposures, including those through the government-sponsored enterprises.

The MBA said its recommendations reflect nearly three years of engagement with regulators and policymakers, including prior comment letters and congressional testimony.

“MBA is concerned that, without further targeted refinements, the final rules could continue to discourage depository institution participation in residential and commercial mortgage origination and servicing and further reduce housing affordability for first-time homebuyers and underserved communities,” the letter stated.

Separately, CHLA also supported portions of the proposal, including lower capital treatment for mortgages and mortgage servicing rights, while pressing regulators to reduce capital requirements on warehouse lending.

CHLA, which sent its own comment letter on June 17, called for cutting warehouse loan risk weights to 50% from 100%. It argued that the short-term, collateralized nature of the exposures makes current treatment overly conservative.

CHLA, which represents IMBs, noted that nonbank lenders now originate about 84% of U.S. mortgages, up from roughly 30% in 2013. It also pointed to a sharp decline in bank participation in government-backed lending, including Federal Housing Administration (FHA) and Ginnie Mae programs, over the past decade.

The group also reiterated its long-standing call for federal regulators to develop a standby liquidity facility for nonbank Ginnie Mae issuers, arguing that independent mortgage banks lack access to the same emergency funding tools available to banks during periods of market stress.

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Two landlords in Brooklyn are the first to be sued by the state as part of a new program enforcing “de facto” rent stabilization. New York Attorney General Letitia James this week announced a lawsuit against John Anderson and Claudette Henry for failing to register units in buildings in Crown Heights and Brownsville and charging market-rate rents for apartments that should be stabilized. The suit also alleges the landlords attempted to illegally evict tenants and violated harassment laws. The effort comes after the Office of the Attorney General in 2025 launched a compliance program to enforce a law that allows buildings built before 1974 with six or more dwelling units to become rent-regulated.

134 Sackman Street. Streetview © 2026 Google

Apartment buildings in New York City are exempt from rent stabilization laws if they are built after 1974 or contain less than six units. So-called de facto rent stabilization was created as a judicial doctrine to allow buildings with five or fewer units built prior to 1974 to become rent stabilized if the building was altered to have six or more units, according to James.

“Rent stabilization and tenant protection laws help keep working New Yorkers throughout our city in homes they can afford,” James said.

“My office will not shy away from taking immediate action against any landlord who fails to follow the law and attempts to overcharge or illegally evict tenants. Our housing laws are clear, and any landlord who violates them will be held accountable.”

James said her office sent letters to more than 50 landlords who owned buildings that were found to be de facto rent-stabilized but had not been registered with the New York State Homes and Community Renewal (HCR). The landlords were asked to prove buildings were exempt from being regulated.

Owners unable to prove exemption were then asked to register the legal regulated rent for all units with HCR, issue rent stabilized leases to tenants, notify tenants explaining the new leases, and provide the Office of the Attorney General with sworn certification that the actions were taken.

Through its new compliance program, the attorney general’s office said it has prevented 26 evictions and secured the return of 91 units to rent stabilization.

According to the lawsuit, Anderson and Henry never returned their buildings to rent stabilization, failed to register the units with HCR, and attempted to evict tenants.

Anderson owns 1075 Dean Street, which was found to be de facto rent-stabilized in 2016. James alleges that Anderson failed to provide rent-stabilized leases and sent a friend to impersonate him in court. A tenant in the building reported that Anderson shut off her gas, water, and electricity after asking for a rent-stabilized lease.

Henry, who owns 134 Sackman Street, never registered the building with HCR and has tried to evict tenants.

According to the Brooklyn Paper, both buildings showed fewer than six units on record, but have received complaints about illegal conversions and additions.

Through the lawsuit, James seeks to have the landlords register both buildings as rent-stabilized with HCR and offer stabilized leases to tenants. The suits also seek restitution for every current rent-stabilized tenant equal to the amount of rent they were overcharged, with nine percent interest.

The office also wants additional civil penalties from Anderson and Henry between $2,000 and $10,000 for each lawful occupant who faced harassment, as well as $500 per unit for each month it was not registered with HCR.

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For Israelis planning summer vacations abroad, one of the biggest travel expenses isn’t the hotel or airfare — it’s the exchange rate. After months as one of the world’s strongest currencies, the Israeli shekel began weakening against the U.S. dollar in June, raising concerns that overseas trips could become more expensive by the day.

In response, Bank Hapoalim, Israel’s largest bank, has launched a new program designed to protect customers from further currency swings. The bank announced it will cap the exchange rate at NIS 2.89 per dollar for eligible card purchases made abroad this summer, giving travelers certainty at a time when the currency market remains volatile.

The offer, announced by Pazit Garfinkel, Head of Retail Banking at Bank Hapoalim, applies to purchases made with the bank’s credit and debit cards overseas, on foreign websites, and for cash withdrawals from foreign ATMs between June 15 and August 31.

“Our customers are planning their summer vacations abroad and deserve peace of mind without worrying about volatile foreign exchange markets,” Garfinkel said.

The protection works in the customer’s favor regardless of market direction. If the dollar rises above NIS 2.89, the bank will reimburse the difference. If the dollar falls below that level, customers automatically receive the lower market rate.

The program covers up to $5,000 per month in spending, allowing travelers to protect as much as $15,000 over the three-month summer period.

The potential savings can add up quickly. With the dollar trading near NIS 2.95 this week, customers are already saving approximately NIS 0.06 per dollar compared with the market rate. That translates to roughly NIS 300 per month on the maximum covered spending amount, or about NIS 900 over the summer.

If the dollar were to climb to NIS 3.00, the savings would increase to approximately NIS 550 per month, or about NIS 1,650 across the full summer period.

The benefit is available to private customers and small non-corporate business clients who hold active Bank Hapoalim credit or debit cards. Customers must register in advance through the bank’s online platform before purchases become eligible for reimbursement.

The timing may prove favorable. The dollar recently strengthened after comments from Bank of Israel Governor Amir Yaron suggested interest rates could be reduced faster than previously expected. Lower interest rates generally weaken a country’s currency, increasing the likelihood that the dollar remains above the bank’s guaranteed rate.

Still, the opposite scenario remains possible. Earlier this year, the shekel reached its strongest level against the dollar in roughly three decades, helped by renewed investor confidence following the regional ceasefire and improving trade conditions. Should the shekel strengthen again, the dollar could fall below the NIS 2.89 threshold. In that case, customers simply pay the lower market rate and lose nothing.

Beyond helping travelers, the initiative is also a competitive move by Bank Hapoalim. Israeli banks have increasingly competed for retail customers through rewards programs, trading-fee rebates, savings incentives, and other benefits. By offering protection against foreign-exchange volatility during peak travel season, the bank is giving customers a reason to keep spending on Hapoalim cards throughout the summer.

For now, with the dollar trading above the guaranteed rate, travelers are already benefiting. In a world where exchange rates can change daily, Bank Hapoalim is offering something unusual: predictability.

JBizNews Desk

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Iran and the United States are heading back to the negotiating table over Tehran’s nuclear program under a fragile new framework that halted direct fighting, reopened the Strait of Hormuz, lifted the American naval blockade, and established a 60-day ceasefire window for negotiations, with a formal signing expected in Geneva.

What makes this round of diplomacy different is the mindset on the Iranian side. After roughly four months of conflict that began in late February, Iran’s government remains in power despite extensive military strikes, economic pressure, and the loss of senior military leaders. While the war inflicted significant damage, Tehran emerged convinced that it can withstand far more pressure than many Western leaders previously believed. That perception is likely to shape every aspect of the negotiations.

At the center of the talks is Iran’s stockpile of highly enriched uranium. According to the International Atomic Energy Agency (IAEA), Iran possesses approximately 440.9 kilograms of uranium enriched to 60% purity, placing it only a short technical step away from weapons-grade material. Determining the future of that stockpile is expected to be the most contentious issue facing negotiators.

President Donald Trump has repeatedly stated that sanctions relief will not be granted merely in exchange for surrendering enriched uranium. He has also expressed opposition to proposals that would place Iranian nuclear material under the control of countries such as China or Russia, arguing that such arrangements fail to provide sufficient safeguards.

Vice President JD Vance has described the military campaign as having significantly delayed Iran’s nuclear ambitions rather than permanently ending them. His comments reflect a growing recognition within Washington that military action alone did not eliminate the underlying dispute surrounding Iran’s nuclear capabilities.

Another major obstacle involves international inspections. Following strikes on key nuclear facilities, Iran suspended portions of its cooperation with the IAEA, limiting access to sites that inspectors had previously monitored. IAEA Director General Rafael Grossi has urged Tehran to restore full cooperation, warning that uncertainty surrounding the location and condition of nuclear materials increases risks for all parties involved.

Despite its more confident political posture, Iran remains under severe economic strain. Sanctions continue to restrict access to global financial markets, foreign investment remains scarce, and energy exports have faced repeated disruptions. Oil revenue remains the backbone of the Iranian economy, making sanctions relief a critical objective for Tehran.

That reality explains why Iranian officials continue to signal interest in a negotiated settlement. Senior Iranian figures have publicly discussed the release of frozen assets and broader sanctions relief as essential components of any agreement. Foreign Minister Abbas Araghchi has indicated that Iran remains willing to discuss enhanced oversight and limitations on parts of its nuclear program if meaningful economic benefits are delivered in return.

The current negotiations build upon previous diplomatic efforts that produced temporary ceasefires and competing proposals from both sides. While substantial differences remain, the talks are now focused on two core questions: whether Iran will retain any domestic uranium enrichment capability and how quickly sanctions would be removed if an agreement is reached.

For businesses, investors, and consumers around the world, the outcome extends far beyond nuclear policy. The reopening of the Strait of Hormuz, through which a significant portion of global energy supplies pass, has already eased pressure on oil markets. Any lasting agreement that restores Iranian exports could further increase global energy supplies and influence fuel prices worldwide.

Markets are therefore watching the negotiations closely. Energy traders, shipping companies, manufacturers, and governments all have a stake in whether the ceasefire evolves into a lasting agreement or collapses into another round of confrontation.

The reality facing both sides is complicated. Iran enters the talks politically emboldened by its survival but economically weakened by years of sanctions and months of conflict. The United States enters seeking stronger nuclear safeguards while attempting to avoid another prolonged regional crisis.

That combination of confidence and economic vulnerability may ultimately define the negotiations. Iran may believe it has gained leverage, but it still needs access to global markets, oil revenues, and financial relief. Whether those competing pressures produce a breakthrough or another stalemate will determine not only the future of Iran’s nuclear program, but also the stability of one of the world’s most important energy-producing regions.

JBizNews Desk
Geneva / Washington

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

Van Jones, the CNN political commentator and civil rights advocate, said humanity has a “special responsibility” to defend the Jewish people as the Genesis Prize Foundation announced his appointment to its advisory board.

In a video shared by the foundation, Jones framed the Jewish people as one of the world’s smallest and most vulnerable minorities, arguing that Israel must be understood against the backdrop of Jewish history, persecution, and the Holocaust.

“There’s only 15 million Jews left in the whole world,” Jones said in the video. “Only 15 million left.”

He compared the size of the global Jewish population to the world’s much larger religious, ethnic, and national communities, including Chinese, Indians, Africans, Catholics, and Muslims. Jones said the Jewish population would have been “massively bigger” without the Holocaust and “centuries of violence” that preceded it.

Jones also stressed that Israel is home to roughly half of the world’s Jews and described the Jewish state as “the tiniest little place in the world.”

“That’s where half of the remaining Jews in the world are clinging to their existence,” he said. “And when that group comes under attack, humanity has a special responsibility to defend them.”

Jones said criticism of Israeli governments and policies is legitimate, including criticism of political, economic, and military decisions. He then warned against calls for the West to abandon Israel.

“We already ran a 3,000-year experiment where Jews did not have a state, and it ended with Hitler’s hell,” Jones said. “We are not going to run an experiment again.”

Jones joins ‘Jewish Nobel’ board, to focus on Black-Jewish alliance

The Genesis Prize Foundation announced Wednesday that Jones had joined its advisory board, saying he would work with fellow board members to advance the mission of the Genesis Prize, often referred to as the “Jewish Nobel.”

The foundation said Jones would focus in particular on renewing the Black-Jewish civic alliance in America and broadening public engagement against antisemitism, racism, and polarization.

Jones, a Yale Law School graduate, is a civil rights advocate, attorney, author, CNN host, and social entrepreneur. He has founded and led initiatives focused on criminal justice reform, racial justice, green jobs, technology access, and bipartisan problem-solving.

“I’m honored to serve on the Advisory Board of The Genesis Prize Foundation and look forward to supporting its important work,” Jones said in a statement released by the foundation. “One area I am particularly interested in is the renewal of the Black-Jewish civic alliance in America.”

“Together, Black and Jewish Americans have written some of the most important chapters in the story of American democracy,” he said. “That relationship has since faced real strain, but it is far too important to abandon today. At a time of rising antisemitism, racism, and polarization, we need to rebuild trust, deepen relationships, and stand together against hate.”

Stan Polovets, co-founder and chairman of the Genesis Prize Foundation, said Jones brings “a rare combination of moral clarity, public credibility, and practical coalition-building experience.”

“At a time when Jewish communities are facing rising antisemitism, it is essential to engage respected non-Jewish leaders who can strengthen alliances and bring Jewish concerns into the broader public debate,” Polovets said.

Jones’ appointment connects Jewish achievement to civic responsibility

The Genesis Prize Advisory Board is chaired by Natan Sharansky, the former Soviet dissident, Israeli statesman, and human rights advocate.

Sharansky said Jones’s appointment reflects the foundation’s view that Jewish achievement also carries a call to “civic responsibility, moral leadership and engagement with the wider democratic society.”

The Genesis Prize Foundation said it works to foster Jewish identity, celebrate Jewish achievement, and strengthen ties between Israel and the Diaspora. Since its founding in 2013, the foundation said it has leveraged the annual $1 million Genesis Prize into philanthropic initiatives totaling more than $50 million, supporting more than 230 nonprofit programs in 31 countries.

The foundation said its supported causes have included organizations fighting for social, racial, and economic justice; groups assisting refugees from Syria and African countries; programs empowering women in marginalized communities in Israel; humanitarian aid in Ukraine; and advocacy for hostages and their families during the war in Gaza.

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Azerbaijani-language social media posts have circulated in recent weeks questioning the legacy of Albert Agarunov, a Jewish National Hero of Azerbaijan, as Iranian and pro-Iranian accounts renewed claims that Azerbaijan is being used for Israeli operations against Iran.

The posts used phrases such as “the Albert Agarunov lie has collapsed” and described his story as a “forgery.” Some appeared alongside hashtags and language associated with pro-Iranian or Resistance-linked accounts, including references to Iran, Tabriz, Islam and “Müqavimət,” the Azerbaijani word for “Resistance.”

Some of the accounts present themselves as opposition voices, while using language associated with pro-Iranian and Resistance-linked networks. Their timing, wording and use of certain language mirror broader pro-Iranian narratives that have targeted Azerbaijan over its ties with Israel.

Agarunov, a Mountain Jew from Baku, volunteered during the First Karabakh War, served as a tank commander and was killed on May 8, 1992, during the battle for Shusha. He was later awarded the title of National Hero of Azerbaijan and is buried in Baku’s Alley of Martyrs beneath the flags of Azerbaijan and Israel. A school has been named after him, and a monument was erected in one of Baku’s districts in his honor.

Agarunov is remembered not only for his battlefield role, but also as a Jewish Azerbaijani figure whose identity has remained part of his public commemoration in Azerbaijan. The recent posts about him were noted by Azerbaijani commentators and Jewish-Azerbaijani community sources as part of a broader attempt to discredit his image.

The posts also drew pushback from ordinary Azerbaijani users, many of whom continued to describe Agarunov as a national hero. Israel has long been viewed in Baku as an important defense partner, particularly during and after the Karabakh wars.

The online activity followed a CNN report on June 5, which cited anonymous sources familiar with the matter claiming that IDF commandos, intelligence personnel and Mossad operatives had operated from locations in southern Azerbaijan during the Iran war. The report said the Israeli presence was linked to intelligence gathering, drone activity and possible rescue operations near Iran’s northern border.

Azerbaijan denied the report. Officials in Baku said the claims were baseless and that Azerbaijan does not allow its territory to be used for military operations, intelligence activity or hostile actions against a third state.

Iranian state outlets continue campaign targeting Baku-Jerusalem ties

Iranian state-linked outlets, including Tasnim and Fars News Agency, both widely described as affiliated with the IRGC, have repeatedly alleged that Israel maintains military or intelligence infrastructure in Azerbaijan, near Iran’s northern border. Azerbaijan has consistently denied hosting foreign military bases or allowing attacks against Iran from its territory.

A similar narrative appeared in 2012, when Foreign Policy reported that Israel had gained access to Azerbaijani airfields. Azerbaijan and Israeli officials rejected the claims at the time.

The targeting of Agarunov comes amid broader Azerbaijani concern about Iran-linked disinformation. Azerbaijan’s Milli Majlis Commission on Foreign Interference and Hybrid Threats has previously reported coordinated disinformation involving hundreds of Iran-linked profiles across major platforms.

Baku has repeatedly denied that its territory is used against Iran. The recent posts targeting Agarunov appeared as Iranian and pro-Iranian outlets continued to promote that claim.

This post was originally published on here

Azerbaijani-language social media posts have circulated in recent weeks questioning the legacy of Albert Agarunov, a Jewish National Hero of Azerbaijan, as Iranian and pro-Iranian accounts renewed claims that Azerbaijan is being used for Israeli operations against Iran.

The posts used phrases such as “the Albert Agarunov lie has collapsed” and described his story as a “forgery.” Some appeared alongside hashtags and language associated with pro-Iranian or Resistance-linked accounts, including references to Iran, Tabriz, Islam and “Müqavimət,” the Azerbaijani word for “Resistance.”

Some of the accounts present themselves as opposition voices, while using language associated with pro-Iranian and Resistance-linked networks. Their timing, wording and use of certain language mirror broader pro-Iranian narratives that have targeted Azerbaijan over its ties with Israel.

Agarunov, a Mountain Jew from Baku, volunteered during the First Karabakh War, served as a tank commander and was killed on May 8, 1992, during the battle for Shusha. He was later awarded the title of National Hero of Azerbaijan and is buried in Baku’s Alley of Martyrs beneath the flags of Azerbaijan and Israel. A school has been named after him, and a monument was erected in one of Baku’s districts in his honor.

Agarunov is remembered not only for his battlefield role, but also as a Jewish Azerbaijani figure whose identity has remained part of his public commemoration in Azerbaijan. The recent posts about him were noted by Azerbaijani commentators and Jewish-Azerbaijani community sources as part of a broader attempt to discredit his image.

The posts also drew pushback from ordinary Azerbaijani users, many of whom continued to describe Agarunov as a national hero. Israel has long been viewed in Baku as an important defense partner, particularly during and after the Karabakh wars.

The online activity followed a CNN report on June 5, which cited anonymous sources familiar with the matter claiming that IDF commandos, intelligence personnel and Mossad operatives had operated from locations in southern Azerbaijan during the Iran war. The report said the Israeli presence was linked to intelligence gathering, drone activity and possible rescue operations near Iran’s northern border.

Azerbaijan denied the report. Officials in Baku said the claims were baseless and that Azerbaijan does not allow its territory to be used for military operations, intelligence activity or hostile actions against a third state.

Iranian state outlets continue campaign targeting Baku-Jerusalem ties

Iranian state-linked outlets, including Tasnim and Fars News Agency, both widely described as affiliated with the IRGC, have repeatedly alleged that Israel maintains military or intelligence infrastructure in Azerbaijan, near Iran’s northern border. Azerbaijan has consistently denied hosting foreign military bases or allowing attacks against Iran from its territory.

A similar narrative appeared in 2012, when Foreign Policy reported that Israel had gained access to Azerbaijani airfields. Azerbaijan and Israeli officials rejected the claims at the time.

The targeting of Agarunov comes amid broader Azerbaijani concern about Iran-linked disinformation. Azerbaijan’s Milli Majlis Commission on Foreign Interference and Hybrid Threats has previously reported coordinated disinformation involving hundreds of Iran-linked profiles across major platforms.

Baku has repeatedly denied that its territory is used against Iran. The recent posts targeting Agarunov appeared as Iranian and pro-Iranian outlets continued to promote that claim.

This post was originally published on here

The IDF will not withdraw from Israel’s security strip in southern Lebanon, Prime Minister Benjamin Netanyahu said on Thursday, as tensions escalated between Jerusalem and Washington over a US-Iran agreement that calls for an end to hostilities in Lebanon and a full Israeli withdrawal from Lebanese territory.

Speaking during a ceremony for the re-inauguration of Route 60 in Israel’s North, the prime minister vowed that Israel “will restore security to the north,” adding that “this requires maintaining the security strip in southern Lebanon, and that requires that we not withdraw as long as Israel’s security needs require it.”

Netanyahu’s statements came after IDF Arabic Spokesperson Col. (res.) Avichay Adraee published an infographic map of the security zone in southern Lebanon, within 10 km. of the Lebanese border on X/Twitter.

The IDF is deployed in the Security Zone, around 10 km inside Lebanese territory, for operational reasons. The military stated that the ceasefire does not mean that it will fully withdraw from its security zone in southern Lebanon. 

The army did not present a timetable for withdrawal or clear conditions for ending its presence in the territory.

The military also noted that the maritime security zone is a continuation of the land-based buffer, extending into the sea along a 280-degree course, in accordance with a political-level decision. According to Channel 12, the expansion of the maritime zone shows that Israel is committed to preventing threats and smuggling efforts along the coast.

The IDF is acting to remove threats and improve the defense for citizens of northern Israel, Adraee added. 

Trump says Netanyahu ‘a little too enthusiastic’, says Syria should handle Hezbollah

This comes after an Israeli source said that Jerusalem is “conducting stubborn negotiations” with the US on the issue of continuing its deployment of troops in southern Lebanon, a senior official close to Prime Minister Benjamin Netanyahu told Reuters.

Israel has no intention of backing down on its positions, the official said.

Earlier this week, the US president indicated that he did not like Israel’s policy in Lebanon. 

“I say it’s possible to act a little more moderately. Maybe you don’t need to bring down a building every time a Hezbollah member walks into it,” he said.

Trump also called Netanyahu “a good man” who sometimes “gets a little too enthusiastic.”

He also suggested that Syria should fight Hezbollah instead of Israel.

An IDF sniper takes aim during operations in southern Lebanon, June 18, 2026 (credit: IDF SPOKESPERSON'S UNIT)

“Israel’s fighting Hezbollah for too long, and too many people are being killed. You don’t have to knock down an apartment house every time you’re looking for somebody because there’s a lot of people in those apartment houses and they’re not all Hezbollah, that I can tell you,” he said. 

“I suggested to Israel to let Syria take care of Hezbollah because, to be honest with you, I think they’d do a better job of doing it. If Israel can’t do the job without killing everyone else, it’ll do the job. Syria will do the job.”

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American humorist Will Rogers famously said, “I never met a man I didn’t like.” Prime Minister Benjamin Netanyahu has never met an American president he didn’t piss off.

The Israeli leader is a bipartisan offender, not an asset for a leader and a country bleeding friends right and left and doing little to stanch the flow.

Netanyahu has based much of his political career on his ability to effectively manage US-Israel relations, but that has since turned into a bad joke as he hitched the nation’s security along with his own political future to a volatile, angry, and woefully ignorant president.

Wrath directed at the prime minister has been fed by a perception of indifference toward the enormous civilian death toll in the Israel-Hamas War and the reports that the IDF and security forces are not only enablers of settler pogroms against West Bank Palestinians but sometimes even participants.

Netanyahu has been a frequent target of President Donald Trump’s wrath, which has intensified in the four months since they partnered to wage war against Iran.

Trump isn’t the first president to find the overbearing Bibi unbearable. Former US president Joe Biden has called him “a f***ing liar” and “son of a bitch,” according to journalist Bob Woodward.

After Bibi lectured Bill Clinton about history, aides present said the president grumbled, “Who the f*** does he think he is? Who’s the f***ing superpower here?”

During the presidency of George HW Bush, Bibi was banned from the State Department for saying US foreign policy was “based on lies and distortions.”

In 2015, he blindsided former US president Barack Obama by partnering with House Republicans and American Israel Public Affairs Committee (AIPAC) in their failed campaign to block Obama’s signature Iran nuclear deal. 

Trump later tore up the deal and then went to war, resulting in what may be an even weaker outcome.

A long history of clashing with US presidents

Trump not only curses Bibi in private, but he calls reporters to repeat it for publication.

As negotiations progressed last week, Israel bombed Beirut, angering the Iranians and the US president. 

“Why did Bibi have to do a f***ing attack? I was so pissed off. I let him know. He has no f***ing judgment. I let him know that,” he told Axios’s Barak Ravid.

On another occasion, he told Ravid that he’d yelled at Bibi, “You’re f***ing crazy. You’d be in prison if it weren’t for me. I’m saving your ass. Everybody hates you now. Everybody hates Israel because of this.”

Israelis and their country’s American friends should be alarmed by Trump saying, “If there wasn’t me, there would be no Israel.”

Bibi has put Israel in a weak position with little choice but to follow Trump’s lead.

He has squandered Israel’s powerful bipartisan congressional base that could stand up to presidents. AIPAC has become a pariah in many Capitol Hill offices, particularly on the Democratic side.

Netanyahu can moan and groan about the deal and try to test the limits of US and Iranian tolerance, but the price could be prohibitive. He doesn’t have the cards he once held.

The prime minister, aged 76, is running for a seventh term this year. 

The war is popular in Israel and so is Trump, and Bibi must tread a fine line between the two. One lesson of this war has been that with Trump’s administration, when Israel thinks it is an equal partner, it can get slapped down, sometimes very publicly.

And when the fighting stops, and Congress and voters begin asking what went wrong, you know which direction White House fingers will point. 

The United States and Israel launched this war on February 28 by decapitating Iran’s leadership. 

Their proclaimed lofty but shifting goals included regime change, unconditional surrender, liberation of the Iranian people, destruction of the ballistic missile threat, removal of the entire nuclear program, destruction of the Iranian navy and air force, and ending support for Tehran’s terror proxies.

It didn’t take long for cracks to appear. Bibi was dead serious about his goals; Trump was flexible. On Sunday he admitted, “I never cared about regime change.” 

He was just hoping for another quickie like Venezuela so he could fly off to Stockholm for his long-overdue Nobel Peace Prize. Neither expected Iran to outsmart them by closing the Strait of Hormuz and retaliating against America’s allies in the Gulf.

The war may have been popular in Israel, but in the United States, it was turning into a political and economic crisis for Republicans who feared it could cost them control of Congress in November.

The Iranians don’t have to face voters. They could absorb more costs – material and political – than Trump, whose goal quickly became finding a way out that would let him declare victory and go home.

Trump made it clear his Israeli partner was junior, at best.

“If I tell him to do something, he does it,” he boasted to the BBC. Bibi “won’t have any choice” in negotiations because “I call all the shots. He doesn’t call the shots,” he told the Financial Times.

Iran has said that although Israel is not part of the deal, it expects Washington to make it halt its war against Hezbollah in Lebanon, setting up another test for Washington-Jerusalem relations.

Trump was so anxious for a deal that barely a day went by that he didn’t announce one was imminent. 

He’d threaten massive bombing only to back down at the last minute, saying talks were promising, even when they weren’t. That strategy defined his nickname, TACO: Trump always chickens out.

In a conversation with The New York Times, Trump praised Presidents Xi Jinping of China and Vladimir V. Putin of Russia for their help. He called Bibi “a very difficult guy” who “should be very thankful” to him because “if Iran had a nuclear weapon, Israel wouldn’t be around for two hours.”

Trump’s biggest boast, that he won the regime’s written assurance that it has no intention to build or acquire a nuclear weapon, is old news. Fifty-six years old, to be exact.

Iran ratified the Nuclear Non-proliferation Treaty in 1970, which included that pledge.

Then in 2003, Supreme Leader Ayatollah Ali Khamenei issued a fatwa forbidding the production of nuclear weapons. And Iran put it in writing again in 2015 when it signed the Obama nuclear agreement, which Trump tore up three years later. 

Now he has one of his own and wants us to think he just invented the wheel.

Trump’s Iran deal includes doing what he bitterly attacked Obama for: lifting some sanctions and releasing billions of frozen Iranian funds to bolster its failing economy. 

Trump will use the same rationale of helping post-war reconstruction, economic revival, and humanitarian interests.

The Memorandum of Understanding, expected to be signed on Friday in Switzerland, is not a peace deal; it is just an agreement to start talking about Iran’s nuclear program while they return to the pre-war status quo. Israel won’t be in the room.

In the face of last year’s brutal crackdown by Tehran, Trump called on millions of Iranians to “keep protesting” and declared the “hour of your freedom is at hand.” Promises made, promises broken.

The writer is a Washington-based journalist, consultant, lobbyist, and former legislative director at the American Israel Public Affairs Committee.

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US Vice President JD Vance defended Washington’s agreement with Iran, questioning Finance Minister Bezalel Smotrich and National Security Minister Itamar Ben-Gvir’s criticism of the deal in an interview with The New York Times on Thursday.

“What is your exact proposal?” he asked. “You’re a country of nine million people. You can’t just kill your way out of solving every single national security problem that you have.”

Ben-Gvir responded to Vance’s comments by saying that the plan is “​to deal with the Nazis of the 21st century, just as the United States dealt with the Nazis of the 20th century.”

Vance claims Netanyahu more familiar with terms of MoU than Smotrich, Ben-Gvir

Vance noted that Prime Minister Benjamin Netanyahu has not scrutinized the deal to the same extent as Smotrich and Ben Gvir have, stating that the lack of criticism may be because Netanyahu is “a little bit more familiar with the details of what’s in it.”

Vance asserted that US President Donald Trump, who signed the US-Iran Memorandum of Understanding on Wednesday in France, has noticed a “misalignment” between the goals of Israeli officials and the American public. 

“He’s willing to say that we’re going to pursue America’s interests where there are divergences,” Vance told the NYT.

He urged Israeli leadership to give their US counterparts “ a little bit of credit,” adding that America has been an “incredible” partner and has “protected a lot of Israeli lives through our missile systems and through our missile programs over the last few months.”

Vance decried ‘weird panic’ that MoU may enable Iranian support for Hezbollah

“I think that America has earned the trust of that region of the world,” Vance continued, decrying what he claimed was a “weird panic” across Israel regarding the possibility that the deal will enable Iran to continue supporting terrorist proxies in the region, such as Hezbollah in Lebanon.

“Do they actually think we’re going to release sanctions on the Iranian system if they’re still funding a terrorist organization?” Vance asked. 

“The answer is: Of course not,” he asserted. “The idea that we’ve made a terrible deal is not supported by the facts; it just doesn’t make any sense if you consider the broad length of the relationship.”

Vance stated that while he recognizes that Israeli leadership and the Israeli public are “very sensitive” regarding the deal, he believes that some are “ picking up on some misinformation about the deal… and sort of panicking about it.”

“I fundamentally believe this deal will be good for the entire region and for the world. That includes, of course, the Israelis,” he assured.

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The following is a letter I received from Rabbi Netanel Kaszovitz, rabbi of the Auckland Hebrew Congregation in New Zealand:

 “Shalom, Sivan. You recently published a story about a small Jewish village that consisted of ten families. Every morning, there was a minyan in the village because a man from each family felt responsible to ensure that there would be a minyan that day. But then another family moved to the village – family #11 – and the next morning, there was no minyan. Everyone felt less responsibility towards the community.

“This past Pesach, we experienced in our community the very opposite situation. Even though we have a small community, there is a minyan, thank God, every Shabbat. But on the last day of Pesach, there was a huge rainstorm. I was worried that there wouldn’t be a minyan that day. 

“Arnold is a 101-year-old member of our community. In just a few weeks, we will be celebrating his 102nd birthday. On the last day of Pesach, he woke up, noticed the weather outside, and said to his wife: “I’m worried that there won’t be a minyan today because of the weather.”  So, he walked in the rain to join our minyan. 

“When he arrived at shul, he told me why he had come that morning, and I was amazed and moved. Over the course of the prayer service, more and more people kept coming. Apparently, many had been worried about the weather, so they had decided to come – specifically that day – to ensure that there would be a minyan. 

“My wish is that each one of us should always feel as if he or she is the ‘tenth person for the minyan’ – important, precious, and special!’ 

Have you heard about these ceremonies? 

These days, in Kibbutz Be’eri, the homes damaged on October 7 are being torn down. But these demolitions are not only acts of clearing away ruins. They have become ceremonies of memory, grief, faith, and rebuilding.

Take Eli Sharabi. He came to see the place where his wife, Lianne, and his daughters, Noiya and Yahel, were murdered.

“It was important for me to be here,” he said as the demolition began. “We are the Jewish people. We have a very special DNA – the DNA of rebuilding. I think that precisely in order to honor those who fell, I must move forward and build a life of action and meaning.”

Not far away, the home of Rachel Fricker was also demolished.

“A million emotions are mixed together,” she said as she watched the walls come down. “For twelve and a half hours, the terrorists were inside this house with me.”

Rachel arrived with rabbis and friends. “I recited Birkat Hagomel, the blessing said after surviving danger. I said Mizmor Letodah, a psalm of thanksgiving, and we raised a glass – to the home that was, and to the home that will yet be built.”

She shared another striking story. Not long ago, a rabbi asked to take ashes from her house for his son’s wedding, in keeping with the custom of placing ashes on the groom’s head as a remembrance of destruction. When he entered the house, he saw a fox. For those familiar with the story, it immediately called to mind Rabbi Akiva, who saw a fox emerging from the ruins of the Temple and understood it as a sign that the place would one day be rebuilt.

“It was a sign for me, too,” Rachel said.

After the ceremony, she returned to her caravilla in Hatzerim “with a feeling of peace, of closure.” Rachel, who also manages the Be’eri synagogue, added that a new, large synagogue is soon to be built in the center of the kibbutz.

Then there is Avida Bachar, who managed Be’eri’s agriculture. On that morning, he lost his wife, Dana, his son, Carmel, and his leg.

“This was a home of life,” he said, standing opposite the tractor that had come to demolish his house. “You meet a woman, build a family, build a life – and in one second, everything is destroyed. But when you look at things from above, you say to yourself: We must build life and family again.”

Since October 7, Avida has carried with him everywhere what he calls his “crying towel.” He used it often at the ceremony, especially when his friends stood beside him and sang Shir LaMa’alot, A Song of Ascents, moments before the demolition began.

He also wanted to convey two messages: a firm security message to the outside – “I woke up. Gaza must cease to exist” – and a message of unity within: “For the first time, I got to know my people, and I am awed by their strength.”

Eli, Rachel, Avida – thank you for these words. They, too, are part of the rebuilding.

Parashat Korach: The root of the dispute

Outside of Israel, the portion of Korach is read this week. Korach became synonymous with dispute. He rebels against the leadership of Moshe and Aharon and seeks to replace them. What happened to him? And what sometimes happens to us as well?

Our sages explain: There is a “dispute for the sake of Heaven,” one that is important to navigate. But there is also a “dispute that is not for the sake of Heaven,” such as the one initiated by Korach, which is rooted in ego, a grasping for honor, and other ulterior motives.  

In essence, Korach’s dispute was based on a quarrel he had with himself. He felt discouraged and detached, and consequently failed to discover his own unique place and mission in life. The commentators explain that his wife was likewise frustrated with her situation, and she kept filling Korach’s mind with poisonous thoughts: You deserve more; you should be like Moshe and Aharon; you aren’t appreciated enough. 

I encourage you to examine your interpersonal relationships, at home and at work, to determine whether you aren’t stirring up controversy in your surroundings because, at the root of it all, you are dissatisfied with yourself.

We write the headlines

What is this morning’s main headline? That depends on us.

In the parashah that is read this week in Israel, Chukat, we are told of the passing of Miriam the Prophetess. In his book, Rabbi Avigdor Nebenzahl recalls one moment from Miriam’s life: the entire nation waited for her for a full week, until she recovered from tzara’at. And here is his explanation:

“Many years earlier, when Moshe Rabbeinu was in the basket on the Nile, his sister Miriam waited for him for a short time and watched over him. In that merit, she later merited that the entire nation would wait for her for a whole week. Every minute of kindness counts, and so does every second of a good deed. 

“We must understand this enormous power. We must understand who we are. Every small action of ours can change the world. We do not see it, but up Above, it is reported with excitement, every small gesture of warmth, every smile, every expression of interest in a new neighbor – it all counts. It all matters.

“If we acquire for ourselves the clear, absolute, and unequivocal knowledge that every good deed we do becomes a main headline in Heaven, it will help us to truly take control of the way we live.”

Translated by Yehoshua Siskin and Janine Muller Sherr

Want to read more by Sivan Rahav Meir? Google The Daily Thought or visit sivanrahavmeir.com

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US Vice President JD Vance excoriated Israeli critics of the US-Iran interim peace agreement, warning Thursday, “I might not be attacking the only powerful ally that I have anywhere left in the entire world.”

Speaking to reporters from the White House, Vance said that President Donald Trump was “the only head of state in the entire world who is sympathetic to the nation of Israel at this moment in time,” and chastised Israeli cabinet members that the majority of the Jewish State’s defensive weapons were provided through US funding.

“The problem for Israel is not Donald J. Trump and anybody in Israel who thinks their biggest problem is the President of the United States needs to wake up and smell the reality of the situation that country is in,” Vance said.

However, the vice president asserted that Israel still has the right to defend itself regarding the ceasefire with Lebanon. 

“Fundamentally,  the Israelis, just like everybody, have to respect this peace process that is fundamentally good for them and for the entire region,”  he said. 

“What the president gets a little frustrated with sometimes is that we seem to be right on the cusp of a major breakthrough in the agreement, and then all of a sudden, there’s a major explosion that goes off in a civilian population center in Beirut, and a lot of people who have nothing to do with Hezbollah lose their lives. That is not acceptable; that is the sort of thing we’ve asked for closer coordination to ensure that doesn’t happen.”

Two-month period of ceasefire starts today, Vance says

Vance said the 60-day window laid out in a memorandum of understanding approved by President Donald Trump and Iranian leaders begins on Thursday.

“I would say the 60-day period officially started today,” Vance told reporters at a White House briefing.

The vice president hit out at critics of the MoU, stating that the deal ensures that Iran must change its behavior before getting any benefits. 

“What is the benefit that the Iranians get that they didn’t have before? The answer is nothing. If they don’t change their behavior, they don’t get the benefit of the bargain,” he said. 

“The idea that the Iranians get all of these benefits before the deal is actually consummated is fundamentally a talking point that is issued by people who want the conflict to continue.”

Trump administration will brief Congress on lifting Iran sanctions

Vance added that the administration would soon brief the US Congress on the Iran deal, but said it was confident it could temporarily lift sanctions on Tehran without congressional approval.

“We feel quite confident that we can temporarily lift those sanctions without going to Congress and seeking their approval on that,” Vance told reporters at the White House.

“We think these technical negotiations are going to start sometime this weekend. That’s still the plan, but that could change,” Vance said at a White House briefing, adding that Iran is a hard country to get out of.

He said he planned to lead the US negotiating team in talks with Iran.

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The Israel Police opened an investigation into allegedly tainted Prinok baby food in May, but were not asked by the Health Ministry to test a suspicious jar of the fruit puree, according to a KAN News report on Thursday.

According to the KAN report, in early May, two young girls were hospitalized after consuming the food. The children’s mother gave the tainted jar to the hospital at the time and requested that it be tested, but it was not tested until this week, after four additional children were hospitalized after consuming the puree.

The jar was passed on to the police, who opened an investigation and interviewed the children’s parents. Police allege that they alerted the Health Ministry, the body responsible for food safety, of the May incident and were not given further instructions regarding how to handle the potentially tainted product. 

“At the time, despite the investigation that was opened, the investigators were not required by the Health Ministry to submit the product for testing, and it was kept as evidence by the police,” police told KAN.

The jar from the May incident was tested this week, and it was found to have been laced with sedatives after another investigation into the tainted baby food was opened.

The Jerusalem Post reached out to Israel Police for confirmation on the matter and has not yet received a response.

Four young children hospitalized after consuming tainted Prinok baby food

On Thursday, two one-year-olds and two three-year-olds were hospitalized after consuming the sedative-spiked fruit puree.  Results from blood tests done on the children found traces of benzodiazepines, a sedative medication, in their systems.

On Wednesday, KAN reported that the Shin Bet (Israel Security Agency) had joined the investigation, as law enforcement probes the possibility that the sedatives were intentionally added to the baby food.

The managers of two branches of the Zol Begadol discount grocery store in Jerusalem, the stores where the tainted baby food was purchased, were called in for questioning, according to KAN.

The Health Ministry also ordered that the two supermarkets remain closed pending the investigation.

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DAKAR, Senegal — The Ebola outbreak in Congo and Uganda has claimed more than 200 lives in its first month and is the worst known outbreak at this stage, with up to 35,000 suspected potential contacts, Africa’s Centres for Disease Control and Prevention said on Thursday.

With 894 confirmed cases so far, the current outbreak is three times worse than a previous outbreak in Uganda in 2000, which had 281 cases at the same point, said Dr. Wessam Mankoula, a medical epidemiologist at Africa CDC.

Read the rest…

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California officials have reached a sweeping settlement with Florida-based MV Realty — requiring the real estate company to void homeowner agreements, remove liens from properties and pay out millions of dollars.

The agreement resolves a lawsuit filed in December 2023 by California Attorney General Rob Bonta, along with the district attorneys of Napa and Santa Barbara counties.

Litigation alleged that MV Realty misled homeowners into signing long-term contracts in exchange for small upfront cash payments while placing liens on their homes that restricted future sales, refinancing and other transactions.

Under the settlement, MV Realty must cancel all homeowner contracts in California, individually terminate every lien it recorded against affected properties and reimburse homeowners who paid early termination fees.

The company must pay more than $1.3 million in consumer restitution and nearly $1.2 million in civil penalties — bringing the total judgment to about $2.5 million.

In addition, MV Realty, its CEO and chief operating officer are barred from engaging in California businesses requiring a real estate license for five years.

“We will not tolerate predatory conduct that targets vulnerable Californians and puts their homes at risk,” Bonta said. “This settlement delivers the relief we sought in our lawsuit, including full restitution for consumers and the complete undoing of the unlawful practices at issue. At a time when Californians are facing an affordability crisis, exploitation like this only adds pressure on households struggling to make ends meet — and it is unacceptable.”

Case background

MV Realty began operating in California in early 2022. State officials secured a preliminary injunction against the company in September 2024 that required it to terminate its liens — a decision upheld on appeal in December 2025.

A trial had been scheduled to begin June 10 in Los Angeles County Superior Court before the parties reached the settlement.

Homeowner Benefit Agreements from MV Realty offered homeowners between $300 and $5,000 in exchange for granting the exclusive right to list their homes if they were sold at any point during the next 40 years.

If homeowners chose another agent or attempted to end the agreement early, they faced a fee equal to 6% of the home’s appraised value. Officials have said liens tied to those agreements could interfere with property transfers, refinancing or home equity loans.

“MV Realty placed profits ahead of people by taking advantage of struggling homeowners and locking them into decades-long agreements by employing deceptive and unlawful business practices,” Napa County District Attorney Allison Haley said. “It was a privilege to work with our colleagues at the Attorney General’s Office and the Santa Barbara District Attorney’s Office in obtaining a settlement that holds MV Realty accountable, provides meaningful relief to impacted homeowners, and reinforces that California will take action against predatory practices that exploit the financially vulnerable.”

Other efforts to halt listing agreements

California lawmakers previously responded to similar business practices by approving legislation that took effect Jan. 1, 2024 — limiting residential exclusive listing agreements to two years and prohibiting such agreements from being recorded with county recorders.

MV Realty launched its Homeowner Benefit Agreement program in 2020 and, at its peak in 2023, said it had enrolled more than 35,000 homeowners across 33 states while paying nearly $40 million to participants.

After facing lawsuits from multiple state attorneys general beginning in late 2022, the company suspended the program in February 2023 and later filed for Chapter 11 bankruptcy protection in September 2023.

This article was written by Jonathan Delozier and generated with the assistance of HousingWire Automation. It was reviewed by a HousingWire editor before publication.

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American consumers continued spending at a surprisingly strong pace in May despite elevated fuel costs and lingering concerns about inflation, according to new figures released by the U.S. Census Bureau.

Retail and food service sales rose 0.9% during the month, significantly exceeding many economists’ expectations and highlighting the resilience of consumer spending, which remains the primary engine of the U.S. economy.

The increase marked another solid month for retailers and suggested that households continued opening their wallets even as higher gasoline prices and broader economic uncertainty weighed on consumer sentiment.

Part of the gain came from rising fuel costs.

Gas station sales increased sharply during the month as energy prices climbed amid tensions in the Middle East and concerns about global oil supplies. Higher prices at the pump boosted overall retail sales totals even when adjusted spending patterns varied across sectors.

Yet the strength was not limited to gasoline.

Excluding fuel sales, retail spending still posted healthy gains across several major categories. Auto dealerships recorded stronger sales, furniture stores advanced, building material suppliers reported increases, and clothing retailers also experienced growth.

Online shopping remained one of the strongest-performing segments of the economy.

Nonstore retailers, which include e-commerce companies, posted another robust monthly increase and continued significantly outperforming traditional brick-and-mortar growth rates. The trend reinforces a shift that has steadily accelerated over the past decade as consumers move more purchases online.

Not every sector benefited equally.

Department stores and electronics retailers reported modest declines, while restaurant spending softened slightly. Economists often watch restaurant activity closely because discretionary dining expenses are among the first categories households trim when budgets become strained.

Despite those pockets of weakness, the broader picture remained positive.

Consumer spending has been supported in recent months by strong employment levels, wage growth, and tax refunds that provided many households with additional cash during the spring.

However, economists caution that some of those supports may begin to fade during the summer months.

Several analysts have noted that tax-refund-related spending likely contributed to the strong May numbers. As those funds are exhausted, consumer spending growth could moderate later in the year.

Beneath the headline figures, surveys continue to show that many Americans remain financially cautious.

Consumers are increasingly prioritizing necessities and searching for discounts while reducing spending on certain discretionary purchases. At the same time, many households continue allocating money toward experiences, entertainment, travel, and dining.

The report also carries implications for monetary policy.

Stronger-than-expected consumer spending, combined with ongoing labor market strength and persistent inflation concerns, could influence future decisions by the Federal Reserve. Policymakers continue balancing the risk of inflation against the possibility of slowing economic growth.

For now, the latest data suggest that consumers remain willing to spend despite economic headwinds.

The coming months will help determine whether May’s performance reflected temporary factors such as tax refunds and gasoline prices or whether households possess enough financial strength to continue supporting economic growth through the second half of the year.

The American consumer has repeatedly surprised economists by remaining resilient in the face of inflation, higher borrowing costs, and global uncertainty. May’s retail sales report provided another reminder that, at least for now, spending remains remarkably durable.

JBizNews Desk
Washington

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Oppenheimer raised its price target on SpaceX to $250 from $190 on Thursday, even as the newly public company’s shares continued to fall. The upgrade came just two days after the stock hit an all-time high, highlighting the growing divide on Wall Street between analysts who see SpaceX becoming a dominant artificial intelligence platform and skeptics who argue the company remains significantly overvalued.

Timothy Horan, an analyst at Oppenheimer, maintained his Outperform rating and pointed to SpaceX’s pending acquisition of AI coding company Cursor as a major catalyst for future growth. He argued that SpaceX now controls nearly every layer of the artificial intelligence ecosystem — from rocket launches and Starlink satellite connectivity to data centers, AI models, and end-user software.

The higher target is largely driven by expectations surrounding Cursor, whose parent company, Anysphere, agreed to be acquired by SpaceX in a $60 billion stock deal expected to close during the third quarter. Oppenheimer increased its fourth-quarter AI revenue forecast for SpaceX to $8.75 billion, up from $4.75 billion, citing rapid growth at Cursor, which the firm estimates is already generating approximately $4 billion in annual revenue.

Despite the bullish outlook, investors continued selling the stock. Shares fell as much as 7% Thursday, trading between $180 and $190, after reaching an all-time high of $225.64 earlier in the week. The decline followed a roughly 5% drop Wednesday, marking the first back-to-back losses since the company’s June 12 public debut.

Part of the selling pressure may be tied to the launch of options trading, which began Tuesday and gave investors their first practical opportunity to bet against the stock. Until then, limited public shares and strong demand had fueled a near-uninterrupted rally.

Wall Street remains sharply divided. On Thursday, Arete Research analyst Andrew Beale initiated coverage with a Buy rating and a $401 price target — the highest currently on the Street. Beale believes Starlink’s next-generation V3 satellites could unlock a massive suburban broadband market by delivering faster and more reliable internet service to underserved areas.

Earlier this week, Wolfe Research analyst Myles Walton also launched coverage with a Buy rating and a $175 target, citing growth opportunities tied to Starship, expanding Starlink adoption, and artificial intelligence initiatives connected to xAI.

Not everyone is convinced. Morningstar values the company at just $63 per share, while CFRA maintains a sell rating. The spread between the most bullish and bearish estimates now ranges from approximately $62 to $401, an unusually wide gap for a major public company.

Critics argue investors are paying for a vision rather than current financial performance. SpaceX reported a $4.9 billion loss in 2025 and another $4.28 billion loss in the first quarter of 2026, despite generating roughly $18.7 billion in revenue last year. Supporters counter that the company’s long-term earnings potential justifies today’s valuation.

Adding to the uncertainty, the major investment banks that led the IPO — including Goldman Sachs, Morgan Stanley, and JPMorgan — remain in their post-offering quiet period and have not yet issued official ratings.

With only about 4% of shares available to the public, trading has been highly volatile. As the stock begins entering more mutual funds and exchange-traded funds, increasing numbers of everyday investors are gaining exposure.

For now, the only thing Wall Street appears to agree on is that SpaceX is likely to remain one of the market’s most closely watched — and most volatile — stocks.

JBizNews Desk | Wall Street

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Bitcoin (CRYPTO: BTC) remains under pressure, but FalconX Head of Trading Strategy Hassan Baseri says institutional traders are increasingly looking at Ethereum (CRYPTO: ETH) and Hyperliquid (CRYPTO: HYPE) as higher-conviction opportunities.

What Happened

Speaking on June 18 on the Milk Road Show, Baseri highlighted the dominant trade among institutional clients has been “short crypto, long AI,” as artificial intelligence stocks continue absorbing market attention and capital.

However, within crypto, Baseri said traders are watching Ethereum and Hyperliquid closely, while Bitcoin remains clouded by concerns around Michael Saylor’s Strategy

Full story available on Benzinga.com

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General Motors and Lockheed Martin announced Tuesday that they have signed a partnership aimed at using the automaker’s manufacturing expertise to help increase production of missiles, munitions, and other defense systems as growing global conflicts place pressure on U.S. weapons stockpiles.

The companies unveiled the agreement at the Reindustrialize Summit in Detroit, describing it as a step toward accelerating weapons production while strengthening America’s industrial base.

Lockheed executives argued that the manufacturing principles behind building advanced military hardware are not all that different from those used to build automobiles.

“What does a THAAD air defense interceptor have in common with a Corvette?” asked Frank St. John, Lockheed Martin’s chief operating officer. The answer, he said, is precision engineering, complex supply chains, advanced manufacturing processes, and the ability to produce at scale.

The goal is not to merge the products themselves but to apply the manufacturing strengths of one industry to another.

The timing reflects growing Pentagon concerns about production capacity.

America’s weapons inventories have been strained by military operations involving Iran and by years of weapons shipments supporting Ukraine. Defense officials have repeatedly urged contractors to increase production rates to replenish stockpiles and prepare for future conflicts.

According to company executives, the memorandum of understanding was developed following discussions with the Pentagon, which has been encouraging industry partners to find ways to expand output more rapidly.

That is where GM enters the picture.

Through GM Defense, established in 2017, the automaker already supplies military vehicles and specialized transportation systems to government agencies. The division currently holds contracts with the U.S. Army, the Department of State, and other federal entities.

But Lockheed is interested in something beyond GM Defense’s existing products.

General Motors possesses one of the world’s most sophisticated manufacturing networks, capable of producing complex systems at high volume while managing thousands of suppliers and logistics partners. Defense leaders increasingly view those capabilities as essential to rebuilding America’s defense-industrial capacity.

Bruce Brown, vice president of strategy at GM Defense, said technological innovation alone is not enough. The ability to manufacture, scale, and deliver consistently is equally important.

The partnership also represents a return to history.

During World War II, General Motors produced tanks, aircraft engines, military trucks, and other equipment for the U.S. war effort. In the decades that followed, the company focused primarily on civilian vehicles. The new partnership signals a renewed push into defense manufacturing at a time when government demand is rising.

For General Motors, defense work offers access to a market supported by long-term government contracts and potentially higher margins than traditional automotive manufacturing.

For Lockheed Martin, the agreement supports a broader expansion already underway.

The defense giant has committed more than $9 billion through 2030 to modernize and expand production facilities. That investment includes a new munitions manufacturing center in Troy, Alabama, where construction began last month and is expected to create a significant number of jobs.

Lockheed produces some of America’s most important military systems, including the F-35 fighter jet, THAAD missile-defense system, PAC-3 interceptors, and the Black Hawk helicopter. The company has faced increasing pressure from the Pentagon to expand output of missile-defense systems and precision-guided weapons.

Executives emphasized that the partnership remains in its early stages.

No specific factories, products, or contracts have been announced. St. John said it is too early to determine which Lockheed programs will benefit most from the collaboration.

Steve duMont, president of GM Defense, said both companies will spend the coming weeks identifying projects where GM’s manufacturing capabilities can provide the greatest value.

Beyond the immediate defense implications, the announcement reflects a broader trend reshaping American industry.

The push toward reindustrialization has gained momentum as policymakers seek to strengthen domestic manufacturing, reduce dependence on foreign supply chains, and expand production of strategically important goods. Increasingly, the line between commercial manufacturing and defense production is becoming less distinct.

If successful, the partnership could channel additional defense work into factories, supplier networks, and manufacturing communities across the United States, supporting skilled jobs and industrial investment.

Questions remain.

Defense manufacturing involves strict security requirements, specialized certifications, and procurement rules that differ significantly from automotive production. Transforming commercial manufacturing capacity into military output is not as simple as repurposing an assembly line.

Ultimately, both companies will be judged not by the announcement itself but by whether the partnership results in more weapons reaching U.S. stockpiles.

The first major test will come when Lockheed Martin and General Motors identify the specific defense programs they intend to pursue together.

For now, the message from Detroit is clear: the companies that helped build America’s automotive industry are being asked to help rebuild its arsenal.

Detroit – JBizNews Desk

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The man Anthropic pays to break its own artificial intelligence spent the spring warning anyone who would listen that the technology had become a dangerous hacking tool. This week, he finds himself on the other side of the argument, helping the company persuade Washington that its most powerful models are safe enough to put back into users’ hands.

Nicholas Carlini, a security researcher at Anthropic and one of the AI industry’s best-known skeptics, has joined the company’s effort to defend the release of the same models the federal government moved to shut down on June 12. That day, the Trump administration barred foreign governments, companies, and individuals from accessing two new releases — a model known as Mythos 5 and a safety-limited version called Fable 5. To comply, Anthropic cut off access to all customers, not just those overseas.

The reversal is striking because Carlini had been one of the loudest internal voices urging caution.

After testing an early version of the model in February, Carlini reportedly told colleagues he did not believe the company should release it. Weeks later, speaking before a gathering of cybersecurity experts in San Francisco, he described what he had found. According to his account, the AI helped identify and exploit a serious vulnerability in web-publishing software and another in Linux, the operating system that powers billions of devices worldwide.

Carlini said he had never previously discovered a major flaw in either system. With the assistance of the model, however, he was suddenly finding multiple vulnerabilities.

His conclusion was blunt. The long-standing balance between attackers and defenders appeared to be shifting, he warned, and the AI had become so capable that it was outperforming him at tasks he had spent years mastering. Two days after delivering that talk, he reportedly sent an internal note urging Anthropic not to release the model.

What changed was not the threat itself but Anthropic’s judgment about how best to manage it.

The company has increasingly argued that controlled release is safer than indefinite restriction. Anthropic contends that the same tools capable of helping attackers discover weaknesses can also help defenders identify and patch them faster. In the company’s view, preventing responsible organizations from using the technology does little to stop determined adversaries from developing similar capabilities elsewhere.

That is where Carlini’s role becomes particularly important. His credibility stems from the fact that he was never an AI cheerleader. As a longtime skeptic, he brings a voice that policymakers may find more persuasive than executives whose businesses depend on the technology’s success.

The dispute also carries major business implications.

Anthropic is widely expected to pursue a public offering in the future, and a government action that can effectively remove a flagship product from the market overnight is precisely the type of uncertainty investors scrutinize closely. The timing was particularly notable. On the same day the restrictions were announced, SpaceX debuted on the Nasdaq under the ticker SPCX, becoming one of the market’s most closely watched new public companies. Meanwhile, OpenAI continues to evaluate its own potential path to public markets.

For investors assessing the AI sector, the message is clear: regulatory risk has become as important as technological capability.

The controversy extends beyond a single company. AI policy experts warned this week that using export-control authority to restrict access to advanced models without extensive public explanation could establish a precedent that creates uncertainty throughout the industry. Developers may become more cautious about releasing new systems if they believe products can be restricted with little warning.

Anthropic has challenged the government’s reasoning, arguing that the security concern cited by regulators involved a narrow workaround rather than a broad failure of safeguards. The company has also noted that similar capabilities exist in other advanced AI systems already available to researchers and businesses.

For the cybersecurity industry, the debate cuts both ways.

Security firms could potentially use systems like Mythos 5 to test networks, identify vulnerabilities, and strengthen defenses before attackers discover weaknesses. At the same time, officials worry that equally powerful tools could be used to conduct large-scale attacks against government agencies, corporations, and critical infrastructure.

That concern explains why Anthropic had previously limited access to its most capable systems, making them available only to a small group of vetted organizations rather than offering them broadly.

The dispute also reflects a broader tension between Anthropic and the Trump administration. The two have disagreed over AI regulation, military applications, and semiconductor policy for more than a year. Anthropic Chief Executive Dario Amodei has previously argued that governments should have the authority to block AI systems that fail rigorous safety testing, a position that distinguishes the company from several competitors.

Now the government has intervened using a different mechanism, and Anthropic — with one of its most prominent skeptics helping lead the discussion — is arguing that the restrictions go too far.

The outcome could shape more than the future of one product. It may help determine how governments around the world balance AI innovation against AI risk as increasingly powerful systems move from research labs into the hands of businesses, governments, and consumers.

Washington – JBizNews Desk

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Editor’s Note: This article was prepared with assistance from an AI system developed by Anthropic. Anthropic is a subject of this report.

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Washington’s vaccine wars are escalating again as Senate Democrats seek to build a paper trail around Health Secretary Robert F. Kennedy Jr.’s controversial overhaul of the CDC’s vaccine advisory committee.

Also, Enanta’s pushing forward with its RSV antiviral, we take a critical look at Patrick Soon-Shiong’s pancreatic cancer claims, and some news from longevity player Cambria.

Continue to STAT+ to read the full story…

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A subway entrance at 34th Street and 8th Avenue that was transformed during the New York Knicks’ playoff run will stay painted orange and blue through at least next season. Gov. Kathy Hochul and the MTA this week announced the spirited entrance will be preserved through the 2026-2027 season in celebration of the team’s first NBA championship in five decades. Transformed by the MTA earlier this month, the Knicks-themed station, which included turning the lamp globes into basketballs, became a viral sensation and a destination for fans and those attending games at Madison Square Garden.

As The Athletic reported, the MTA’s chief customer officer Shanifah Rieara and deputy officer Eugene Riberio brainstormed with their staff to find ways to honor the Knicks during the playoffs. Finding the right shade of orange for the subway entrance, which is normally painted green, required going to a 24-hour hardware store for the right paint.

“To see it is a destination. When people are coming, taking pictures at the station, taking pictures of themselves, it is just an amazing, amazing thing to witness,” Rieara told The Athletic. “Seeing New Yorkers — hopefully Knick fans — being part of this experience. So, we’re happy to sort of give that gift to our city and, of course, our customers.”

Hochul, joined by filmmaker and Knicks fan Spike Lee, said the painted station became an “unofficial New York City landmark” during the playoffs, greeting fans heading to watch parties and Madison Square Garden.

The governor said she hopes the decorations will “keep the celebrations” going and looks forward to the team defending its championship next season.

The announcement came a day before Thursday’s ticker-tape parade, the first ever held for the Knicks in city history. The parade, set for Lower Manhattan’s Canyon of Heroes, could draw more than 1 million spectators, which would make it the largest-attended parade in city history.

“After 53 long years, the Knicks are finally NBA Champions again, and NYC has come together like never before to celebrate this historic achievement for our city,” Hochul said. “As we prepare to immortalize this Knicks team in the Canyon of Heroes, it is fitting that we preserve this iconic subway entrance into next season to keep the celebrations going.”

“The subway and the Knicks are two of New York’s most cherished institutions and now, fans headed to the Garden to see the reigning champions will receive an orange and blue welcome to every game,” she added.

To help fans get to the event, the MTA ran a specially designated “K train” at 7 a.m. Thursday from 168th Street to the World Trade Center.

The train featured a vintage R-32 subway car, which ran during the Knicks’ last championship runs in 1970 and 1973.

“This is about preserving more than just paint,” Janno Lieber, MTA Chair and CEO, said. “The Knicks’ historic championship run triggered an explosion of New York spirit and our iconic orange and blue subway entrance was at the center of the action. Can’t let go of that Mojo!”

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While most are looking at the recent public feud between Changpeng Zhao and Star Xu as some like of popcorn moment, I looked at it as a misunderstanding about decentralized finance regulations. Changpeng Zhao recently praised the decentralized exchange Hyperliquid for its technological brilliance. He acknowledged its unique market position and admitted Binance cannot easily replicate it. However, he also made a crucial point about compliance. He stated clearly that operating a decentralized exchange without Know Your Customer (KYC) checks in the United States violates federal law. Star Xu immediately fired back, accusing Zhao of hypocrisy and pointing out that Binance secretly backed a similar project called Aster. While this drama makes for great entertainment, it distracts from a fundamental legal reality. This debate goes far beyond mere corporate rivalry and strikes at the very heart of how global finance operates. Changpeng Zhao correctly interprets the law. A decentralized exchange simply cannot offer derivatives or leveraged trading to American residents without strict identity verification.

Let us break down exactly why this legal wall exists. The United States Commodity Futures Trading Commission and the Securities and Exchange Commission maintain absolute jurisdiction over any platform offering financial services to Americans. When a platform offers perpetual swaps or leveraged trading, the law requires that entity to register as a designated contract market or a swap execution facility. The government simply will not grant these registrations to any entity lacking a robust identity verification framework. Regulators need these checks to block illicit funds and enforce tax laws. Some developers mistakenly believe that writing open-source code and deploying it to a blockchain grants them magical legal immunity. The government completely rejects this ownerless software myth. If American citizens can access a platform and trade derivatives without identity checks, regulators view the developers, the foundation, or the website hosts as legally liable.

We do not have to guess how regulators will react because they have already established clear precedents. The Commodity Futures Trading Commission and the Securities and Exchange Commission targeted the creators, foundations, and front-end websites of protocols like Uniswap Labs, Opyn, and ZeroEx. They established a firm rule that hosting a website interface allowing Americans to trade unregistered derivatives constitutes operating an unregistered exchange. The most …

Full story available on Benzinga.com

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On Wednesday, after U.S. officials released the full text of his 14-point agreement with Iran, President Donald Trump defended the deal at a news conference closing the G7 summit in France. But the bigger story was the backlash — not just from his own party, but from inside his own cabinet — alongside polls showing his standing at the lowest levels of either term.

The agreement ends the U.S. naval blockade of Iranian ports, reopens the Strait of Hormuz to commercial ships, lifts sanctions and sets a 60-day window for nuclear talks. It also opens the door for Iran to access up to $300 billion to rebuild its infrastructure, funded by other countries. For American households, the stakes are simple: the strait carries about 20% of the world’s oil and gas, and its closure since February 28 pushed up fuel and grocery prices.

Much of the anger comes from Trump’s usual allies. Senator Ted Cruz of Texas said the president was getting very poor advice, warning against “giving billions of dollars to theocratic lunatics who want to murder us.” Former Vice President Mike Pence said the deal “smacks of the kind of appeasement” the administration once rejected. Senator Bill Cassidy of Louisiana called it “the worst foreign policy blunder in decades,” and former U.N. Ambassador Nikki Haley warned Iran would spend any money it receives on its nuclear program and regional proxies.

The criticism set off a public family fight. Donald Trump Jr. accused Cruz of “lying thru his teeth,” insisting the United States is not handing Iran any money.

Conservative media piled on. Ben Shapiro called the deal “a disaster,” Erick Erickson called it “an American surrender,” and former adviser Steve Bannon urged the White House to keep the sanctions in place. Fox News host Mark Levin and the editors of National Review demanded the administration release the full text. Republican leaders were more guarded but uneasy: Senate Majority Leader John Thune said he wanted more information, and Senator Lisa Murkowski of Alaska said she was waiting to hear what the “corresponding win” for the United States would be.

The split runs into the cabinet as well. According to reports, Defense Secretary Pete Hegseth, Secretary of State Marco Rubio and CIA Director John Ratcliffe privately raised doubts about the agreement, while Vice President JD Vance and envoy Steve Witkoff — joined by Jared Kushner — pushed it through as its principal architects. The fracture reflects a broader reshuffling of who holds Trump’s ear: when the strikes began, isolationists such as Tucker Carlson and Marjorie Taylor Greene were sidelined after arguing he had abandoned “America First”; now many of the hawks who supported the military campaign are among the loudest critics of the deal. Throughout the conflict, Trump has managed Iran policy through a small inner circle after significantly reducing the role of the National Security Council.

The debate also tests Trump’s longstanding reputation as a dealmaker because the agreement falls short of the war’s original goals. At the news conference, Trump defended Iran’s right to retain ballistic missiles, saying “they have to have some because other people have some” — capabilities that had previously been targeted by U.S. and Israeli strikes. Months ago he had demanded Iran’s “unconditional surrender”; on Wednesday he framed the agreement as a way to avoid a broader economic crisis.

He still has defenders. Senator Lindsey Graham of South Carolina said the United States was “off to a good start” while expressing doubt that Iran would ultimately abandon its nuclear ambitions, though he called on Vance, whom he described as the deal’s architect, to defend it before Congress. Senator Rand Paul of Kentucky said he stood with Trump on pursuing peace. Representative Brian Mast of Florida argued the United States is “$300 to $500 billion ahead” after destroying much of Iran’s military and nuclear infrastructure.

The political challenge for the president may be the polling. A NPR/PBS News/Marist survey put his approval rating at 36%, with 59% disapproving — the widest gap of either term — and only about a third approving of his handling of the economy, below Joe Biden’s lowest marks. NPR reported that the decline extended even into some of the voter groups that helped return him to office. A Reuters/Ipsos poll found 35% approval overall, 29% approval on Iran, and 22% approval on the cost of living, while 53% said the war was not worth it. Both surveys were conducted largely before the agreement’s details became public. An Economist/YouGov poll highlighted the dilemma: 68% want a deal that ends the war quickly, but only 34% support an agreement that allows Iran to keep its enriched uranium.

For the economy, the math is straightforward. If the Strait of Hormuz remains open and the ceasefire holds, gasoline, diesel and shipping costs could ease through the remainder of 2026 — the relief Trump is counting on before November, with Brent crude already falling to around $83 per barrel. But if the truce collapses, or if the concessions to Iran continue to dominate the political debate, the strait could close again and erase those gains, leaving the president exposed on the issue voters consistently rank as their top concern: the cost of living.

JBizNews Desk
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A new bill would ban lawmakers in Congress from placing bets on prediction markets related to public policy issues and elections that they could be in a position to profit from by using insider information.

The Stop Lawmakers From Predicting Act was introduced Thursday by House Administration Committee Chairman Bryan Steil, R-Wis., which would ban members of Congress as well as their spouses and dependent children from placing a wager on a prediction market on topics that the lawmaker may have inside information on.

The ban would cover wagers on the occurrence, nonoccurence or the extent of the occurrence of specific government policies and actions, a political outcome or any other event which came to the attention of a covered individual as a direct or indirect result of the lawmaker’s service in Congress.

“The American people deserve to know their Member of Congress is not profiting off insider information,” Steil said. “This legislation is critical to restoring the public’s trust in their elected officials. Lawmakers should be writing policy, not wagering on its outcome.”

SENATE QUIETLY BANS LAWMAKERS FROM BETTING ON PREDICTION MARKETS

Steil’s bill would punish violators of the law precluding lawmakers from placing political and policy wagers on prediction markets with a fee equal to $2,000 or 10% of the value of the prohibited transaction, whichever is greater, and the net gain from the transaction.

The bill would also prohibit lawmakers from using their Members’ Representational Allowance, Senate personnel and office expense account, or political contributions or donations to pay the fine.

Lawmakers who resign from office or retire without paying the fine could be referred to the Justice Department for civil enforcement if the bill were to become law.

BLOCKCHAIN ANALYSTS SAY TRADERS MAY HAVE USED INSIDER INFORMATION TO PROFIT ON IRAN CONFLICT BETS

Steil’s introduction of the prediction market ban for lawmakers comes after his panel, the Committee on House Administration, advanced the Stop Insider Trading Act to the House floor in January, which focused on insider trading in the stock market.

It also follows an incident in March in which blockchain analysts identified suspected insiders who placed suspiciously timed bets on prediction markets related to the Iran conflict, including markets related to the U.S. striking Iran as well as the death of Ayatollah Ali Khamenei. 

The bets generated significant profits and may have been placed using insider information.

MEMBERS OF CONGRESS USING ONLINE PREDICTION MARKETS? DON’T BET ON IT

The Senate in April passed a resolution brought forward by Sen. Bernie Moreno, R-Ohio, that changed the upper chamber’s internal rules to ban lawmakers and their staff members from placing bets in prediction markets. Leading prediction markets Kalshi and Polymarket expressed support for the effort at the time.

A broader bipartisan bill aimed at regulating prediction markets has also been introduced in the Senate by Sens. Dave McCormick, R-Pa., and Kirsten Gillibrand, D-N.Y. Their Prediction Market Act would also crack down on insider trading in prediction markets while also establishing regulatory frameworks to protect customers and retail investors.

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The House bill introduced by Steil that focuses on keeping lawmakers and their families from placing political and policy-related bets on prediction markets may be considered by the House Administration Committee. It would need to pass the House and Senate, then be signed by President Donald Trump to become law.

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The widely circulated claim that it could take 90 days to clear the Strait of Hormuz does not appear to come from any official mine-clearing estimate. Industry analysts and government officials have offered timelines ranging from several weeks to several months, but no major source has projected a 90-day mine-clearing operation.

Instead, the figure appears to stem from the length of time the strait has already been disrupted. The waterway has been largely closed since February 28, meaning it has been affected for more than 100 days, with many reports previously referring to the closure as lasting “90-plus days.” Somewhere along the way, that closure-duration figure appears to have been mistakenly interpreted as a forecast for reopening.

The actual reopening timeline is considerably more complex.

President Donald Trump and Iranian President Masoud Pezeshkian signed an agreement this week to reopen the Strait of Hormuz, but the date that matters most for consumers is not the signing date — it is how long it takes to safely restore oil flows and bring energy markets back to normal.

The U.S. Energy Information Administration describes the strait as the world’s most important oil transit chokepoint, carrying roughly 20% of global oil and liquefied natural gas supplies under normal conditions.

Phase One: Opening Safe Shipping Lanes

The first step is establishing secure passage through the strait.

Greg Brew of Eurasia Group estimates it could take two to three weeks to identify and certify safe shipping corridors for large tankers. According to maritime intelligence firm Kpler, roughly 500 commercial vessels remain in the Gulf region, including more than 100 loaded tankers waiting to move.

Some of those ships could begin departing within days, allowing oil already produced and sitting offshore to reach markets. This phase provides the first wave of supply relief.

Crude prices have already begun responding. Brent crude has eased from recent highs, and gasoline prices typically follow oil lower after a short delay.

Phase Two: Mine-Clearing Operations

The more difficult challenge is clearing mines and restoring full confidence among shipping companies and insurers.

A Pentagon briefing to Congress estimated that completely clearing the waterway could take up to six months. Earlier this month, Secretary of State Marco Rubio testified before the Senate Foreign Relations Committee that Iran had mined portions of the strait.

Some maritime-security specialists have suggested shorter timelines, but insurers are expected to remain cautious until waterways are formally certified as safe. European allies, including Britain, France, Germany, Italy, and the Netherlands, are preparing or supporting mine-clearing operations.

Until that work is completed, transportation costs are likely to remain elevated, limiting how quickly gasoline, diesel, and shipping expenses can decline.

Phase Three: Restoring Full Oil Production

Even after shipping lanes reopen, oil production does not instantly return to normal.

Amena Bakr of Kpler estimates it could take two to three months for tankers to complete export cycles and return for new cargoes. Additional time will be needed for Gulf producers to fully restart production that was disrupted during the conflict.

ADNOC CEO Sultan Al Jaber has warned that reaching 80% of pre-war oil flows could take at least four months, while full normalization may not occur until 2027. Saudi Aramco CEO Amin Nasser has issued similar assessments.

What It Means for American Consumers

For U.S. households, the key takeaway is that relief is likely to come gradually.

Gasoline prices may begin easing in the coming weeks as trapped oil reaches global markets, but broader reductions in fuel, transportation, and consumer-goods costs are expected to unfold over many months.

The biggest variable remains the durability of the agreement itself. The deal provides a framework for reopening the strait, but major issues remain unresolved, including future negotiations over Iran’s nuclear program and long-term security arrangements in the Gulf.

If the agreement holds, energy prices should continue trending lower. If tensions return, markets could quickly reverse course.

Early indicators suggest movement is already beginning. TankerTrackers.com reports that Iranian crude shipments have resumed, while Iranian officials say vessels are once again moving through the country’s ports. The International Energy Agency, led by Fatih Birol, has said the market could eventually swing into surplus once Gulf production and exports fully recover.

For now, however, consumers expecting an immediate drop at the pump may need patience. Based on current industry estimates, the path to significantly cheaper gasoline appears measured in months, not days.

JBizNews Desk

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Ukraine launched a major drone attack on Moscow on Thursday, hitting the Russian capital’s oil refinery for the second time this week in what Kyiv cast as a response to an attack that damaged a nearly 1,000-year-old monastery in the city.

“We don’t want this war, we never did, and everyone knows it, and our partners know it,” Ukrainian President Volodymyr Zelensky said in a voice message sent to reporters on a WhatsApp group. “But if Ukraine burns, your Moscow will burn.”

Russia, for its part, fired missiles into Kyiv, also for the second time this week, following the attack that damaged the Kyiv Pechersk Lavra monastery and drew international condemnation. Russia denied striking it.

In Moscow, Reuters saw flames and plumes of smoke over the densely populated southeastern district of Kapotnya, where the refinery supplying the capital is located.

According to the Kyiv Post, the facility supplies nearly 40% of the Moscow region’s petrol and 50% of its diesel fuel.

Russia’s Lavrov says Moscow will stage ‘massive, regular’ strikes on Ukraine

Moscow Mayor Sergei Sobyanin said several drones reached the refinery, adding that a shopping center also sustained minor damage.

Russia’s defense ministry said 555 drones were shot down across the country. Sobyanin said 180 were shot down around Moscow alone. State news agency TASS said the attack on Moscow was one of the biggest this year.

Zelensky confirmed the attack on the refinery. Ukraine’s military said that Ukrainian forces also hit an oil depot in Russia’s southern Rostov region and another two bridges as Kyiv intensifies its campaign to hamper Russia’s logistics.

In response to the attacks, Russia will carry out “massive coordinated strikes on a regular basis” against Ukraine, Foreign Minister Sergei Lavrov said on Thursday.

More than four years since Russia’s full-scale invasion, Ukraine has increasingly been targeting Russia’s energy infrastructure with long-range drone strikes, while Russia has continued firing missiles at Ukrainian cities.

Zelensky pushes for face-to-face talks with Putin

After years when Russian forces made slow but relentless gains on the battlefield, Kyiv says its improved drone capabilities are shifting the war’s momentum in its favor, providing new impetus for Moscow to agree a peace deal.

Zelensky has launched a diplomatic push to increase pressure on Russia to negotiate an end to the war.

“One of the most popular questions asked by Muscovites this morning is ‘What is going on?’ I can answer. Your country started a war of aggression against ours. For years, it has been killing our people. Now that you know what’s going on, ask Putin when he is planning to end it,” Ukraine’s Foreign Minister Andrii Sybiha posted on X.

Moscow, which says Ukraine is losing, has demanded Kyiv cede its territory before it will discuss peace.

Kremlin aide Yuri Ushakov said that Ukraine’s latest attacks on Russia are delaying the prospect of direct contact between President Vladimir Putin and Zelensky, Interfax reported.

Zelensky called the attacks on Russia a “totally fair response to Russian strikes on our cities and communities and another important result of the work of our soldiers on facilities that provide support for the Russian war machine.”

A drone strike on Tuesday on Moscow’s refinery had already halted operations there, sources said, adding to widespread damage to Russian energy facilities.

Russia, the world’s third-biggest oil producer and a major oil and fuel exporter, is set to import fuel by sea this month as it seeks to manage a gasoline shortage following Ukrainian drone attacks on refineries, according to industry sources.

What happened in Ukraine’s attack on Russia?

In the surrounding Moscow region, a high-rise residential building, an industrial facility, and a number of private houses were damaged in the drone attack, which also injured 16 people, the regional governor said.

Flights were suspended at all Moscow airports, and traffic was shut down on the highway around the capital near the refinery. Sheremetyevo airport, Moscow’s busiest, said it had been evacuated.

Elsewhere in Russia, officials said a Ukrainian drone strike killed a man in his car in the Belgorod border region, and a Ukrainian drone attack killed one person and caused a fire at two commercial facilities in the Rostov region.

Meanwhile, explosions rang out in Kyiv, and airstrike alerts were issued for most of Ukraine’s territory.

Tymur Tkachenko, the head of Kyiv’s military administration, said Russia was attacking the capital with ballistic missiles. There were no further reports from the authorities on damage or casualties in the city.

Authorities in the northeastern Ukrainian city of Sumy said one person was killed in a drone attack overnight, while a man was killed and a further 11 people were injured in a Russian attack on the southeastern city of Dnipro early on Thursday, the regional governor said.

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Antisemitic incidents hit an all-time high in Germany since monitoring began in 2025 with 8,725 recorded offenses, according to the new annual report by RIAS. 

RIAS is Germany’s independent antisemitism monitoring network, which tracks both criminal and non-criminal antisemitic incidents.

In 2025, RIAS recorded 8,725 antisemitic incidents, equating to roughly 24 cases per day.

Across the year, RIAS documented 178 physical attacks and 257 threats. For example, in the city of Kehl, four members of a Jewish community were insulted and spat on outside a Jewish prayer room. In the state of Hesse, a rabbi was shoved in a supermarket in front of his children and had his phone snatched. 

In addition, there were four cases of extreme violence, including a terrorist attack at the Memorial to the Murdered Jews of Europe in Berlin. 

Nearly 43% of all documented threats occurred online, including death threats. For example, a Jewish woman repeatedly received threats on Facebook, including an image of a canister of Zyklon B accompanied by the comment: “Still in stock.”

Far-right antisemitic incidents were higher than ever

Interestingly, far-right antisemitic incidents were higher than ever; RIAS recorded 807 far-right antisemitic incidents in 2025, the highest figure since nationwide monitoring began in 2020. In For example, in Mecklenburg-Vorpommern, a far-right group shouted on a bus, “Jews to the wall,” mocked the Holocaust, and threatened refugees as well as passengers who attempted to intervene.

RIAS noted that, recently, far-right antisemitism has not only become more frequent, but has also appeared in increasingly open and violent forms.

Benjamin Steinitz, Executive Director of RIAS, said “the continuing normalization of antisemitism threatens democratic culture as a whole.”

“What is needed is not only decisive action by the state, the justice system, and public administration, but also a resilient civil society. Germany’s federal and state governments must ensure permanent funding for civil society reporting and counseling centers.”

Most frequently documented form of antisemitism in 2025 was Israel-related antisemitism

Bianca Loy, co-author and research advisor at RIAS, highlighted the fact that the most frequently documented form of antisemitism in 2025 was Israel-related antisemitism. Israel-related antisemitism was documented in two-thirds (68%) of all incidents.

“Although the war in the Middle East played a central role, individual developments in the conflict, such as the ceasefire between Israel and Hamas, had little impact on the case numbers,” she said. “these developments are concerning. There is a risk that antisemitic positions will increasingly become socially acceptable.”

“The annual report by RIAS shows that antisemitism in Germany appears to be advancing unchecked,” said Dr. Felix Klein, Federal Government Commissioner for Jewish Life in Germany and the Fight Against Antisemitism. “Antisemitism does not only threaten Jewish people. It threatens our democracy, our freedom, and the moral core of our republic.”

Karin Prien, Federal Minister for Education, Family, Senior Citizens, Women and Youth said that the continued high numbers of Israel-related antisemitism as well as the sharp increase in far-right motivated incidents are “particularly alarming.”

“Antisemitic incidents mean fear, insecurity, and restrictions in everyday life for Jewish people. When people hide their identity, do not openly wear religious symbols, or avoid certain places, this affects our entire society and our ability to live together,” she said. 

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The High Court of Justice on Thursday asked the Knesset to consider voting for a third time for attorney Michael Rabello’s appointment to state comptroller after the first two votes were disputed.

“There is apparently an undesirable cloud; some of the votes are problematic on their face. MKs acted contrary to the Knesset legal adviser’s instructions when creating a new rule allowing filming,” said Deputy Supreme Court Justice Noam Sohlberg. 

“We are proposing a procedural remedy, that you do it again, only in a clean and proper process. That is our proposal. We will wait until Sunday for your responses on this matter.”

Earlier, the High Court pressed petitioners, the Knesset, and attorneys for the Likud and Prime Minister Benjamin Netanyahu over whether the disputed vote that elected attorney Michael Rabello as state comptroller was tainted by a violation of the legally required secret ballot.

The hearing, which was still ongoing Thursday afternoon, was held before Deputy Supreme Court President Noam Sohlberg and Justices Gila Canfy-Steinitz and Ruth Ronnen, who are hearing seven petitions seeking to cancel Rabello’s election and order a new vote.

Rabello, Netanyahu’s longtime personal attorney, was elected on June 3 after a dramatic two-round Knesset vote. In the first round, retired Supreme Court justice Yosef Elron received 60 votes, and Rabello received 57, leaving both short of the 61 votes required to be elected state comptroller. A second round was then held, during which opposition MKs alleged that coalition lawmakers had been instructed to document their vote behind the curtain, despite the legal requirement that the state comptroller be elected by secret ballot.

After the second round was restarted, Rabello defeated Elron 61-57.

The petitions argue that the vote was not merely politically controversial but legally defective because the documentation of ballots undermined the secrecy intended to allow MKs to vote freely and according to conscience. Some of the petitions also argue that Rabello cannot serve as state comptroller because of his years-long professional ties to Netanyahu, the Likud, the Prime Minister’s Office, and ministers whose conduct the comptroller may be required to audit.

Elron, who lost to Rabello in the second round, filed a short position joining the petitioners’ arguments regarding the alleged illegality of the second vote. He did not ask the court to declare him state comptroller or install him in the role, but joined the requested remedy of canceling the election.

Rabello state comptroller election faces High Court legal challenge

Sohlberg made clear at the start of the hearing that the central issue before the court was the secrecy of the Knesset vote and whether any breach of that secrecy affected the result. He also addressed the unusual fact that Elron, a recently retired Supreme Court justice, is a respondent in the case, saying the justices naturally had friendly relations with him and had worked with him, but that where all the justices could be seen as conflicted, “someone needs to hear” the case.

The justices appeared skeptical at times of the sweeping remedy requested by the petitioners, particularly the argument that any photographing of a ballot should automatically lead to cancellation of the election. Ronnen asked whether such a rule could give people a tool to sabotage elections by filming themselves voting and then demanding the ballot be voided.

At the same time, the bench also pressed the Knesset and the respondents on whether the events in the second round could have chilled MKs who may have wanted to break ranks.

Canfy-Steinitz said that if the Knesset speaker created a “new rule” by saying MKs could document their vote, the court needed to examine whether that may have affected the result, “in the sense that it could chill the position of MKs who maybe wanted to deviate from the line.”

She also said the issue was not only what happened behind the curtain, noting that envelopes used in the vote are meant to be sealed. In a case where MKs showed their vote outside the curtain, she said, “We are effectively dealing here with the removal of the curtain,” calling it “much more basic” than the question of self-documentation.

Attorneys for the petitioners argued that the filming turned the second round into a loyalty test.

Attorney Eliram Bakal, representing Yesh Atid, argued that MKs changed their vote between the first and second rounds and that there was no explanation for the “burst of self-documentation” in the second round if the documentation was truly spontaneous. Ronnen responded that the very existence of a second round assumes that some MKs may change their vote.

Attorney Eliad Shraga, representing the Movement for Quality Government in Israel, argued that “aggressive pressure” led to the loss of support for Elron and that the documentation created an improper “test of loyalty” to the prime minister. He compared MKs agreeing to photograph their vote to MKs agreeing that it is permissible to run a red light.

The Knesset’s legal position, represented in court by attorney Yitzhak Bart, was that the petitions should be dismissed because there was no evidence that MKs had been ordered to document their votes. Bart said a request or instruction from someone able to pressure an MK to document a secret vote would be illegal and invalid, but argued that no such instruction had been proven.

He said the gap between the first and second rounds did not prove that an instruction had been given, and that the Knesset had contacted relevant figures, who denied the allegations. Ronnen pressed him on why seven MKs documented their vote only in the second round, asking whether that could indicate that something had been said to them.

Attorney Ilan Bombach, representing Netanyahu and the Likud, also argued that there was no evidence of an instruction to document the vote or of improper pressure that changed the result. Asked by Sohlberg why four MKs changed their vote in the second round, Bombach said, “These things can happen.”

On the conflict-of-interest arguments, the justices seemed more hesitant to accept the claim that Rabello’s professional ties to Netanyahu require automatic disqualification before a conflict-of-interest arrangement is even finalized.

Attorney Amit Mor, one of the petitioners’ attorneys, argued that Rabello had represented Netanyahu in 55 matters, including both civil proceedings and High Court petitions, and had also represented the Likud, the Prime Minister’s Office, and several ministers. He argued that a conflict-of-interest arrangement would not be sufficient.

Canfy-Steinitz responded that perhaps the court should first wait to see the arrangement, saying the prevailing view is that conflicts of interest can be addressed through such arrangements and that no person has been disqualified from office solely because of a conflict of interest, however broad.

Ronnen similarly asked why Rabello should be disqualified from the entire role if he could be barred from handling specific issues.

Thursday’s hearing also included repeated interruptions by Likud MK Tally Gotliv, who was warned by Sohlberg before being removed from the courtroom after another outburst. Rabello has argued in his preliminary response that there is no legal basis to cancel the election, that his professional background was known to MKs before the vote, and that any conflict of interest can be handled through a standard arrangement once he takes office.

The Knesset, Netanyahu, Likud, and Rabello have all asked the court to reject the petitions.

The case places the court at the center of one of the most sensitive institutional appointments in Israel: the selection of the state comptroller, who is tasked with auditing the government, public bodies, and public administration. The role is especially significant as the next comptroller is expected to handle questions relating to the failures surrounding October 7 and the war, as well as the continuing legal clash over the outgoing comptroller’s attempts to audit those failures.

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If you’re an older adult, getting vaccinated against shingles could lower your risk of developing dementia.

A new study found that elderly nursing home residents who received at least one dose of the shingles vaccine known as Shingrix, the only shot of its kind available in the United States, were 24 percent less likely to develop dementia over a four-year period compared to those who were not vaccinated, according to results published this week in the peer-reviewed journal Annals of Internal Medicine.

The research adds to the growing body of evidence showing a connection between the viral infection and cognitive decline.

Continue to STAT+ to read the full story…

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U.S. stocks opened higher on Thursday, clawing back much of the prior day’s losses, after the Federal Reserve under new Chair Kevin Warsh held interest rates steady on Wednesday but signaled it could raise them later this year. In its first meeting with Warsh in charge, the central bank issued an unusually short statement and a “dot plot” showing nine of 18 policymakers expect at least one rate hike in 2026 — a hawkish turn that handed the S&P 500 its worst Fed-day drop under a new chair since 1994, even after the Dow had touched a fresh intraday record earlier in the session. Adding to Thursday’s calmer mood, the Labor Department reported that initial jobless claims fell by 4,000 to 226,000 for the week ended June 13, near forecasts, with the unemployment rate holding at 4.3% for a third straight month.

The rebound was broad. In early trading the S&P 500 rose about 1.15%, the Dow Jones Industrial Average added 0.80% and the Nasdaq Composite climbed roughly 1.5%, while the small-cap Russell 2000 lagged. That followed Wednesday’s slide, when the S&P 500 closed at 7,420.10, down 1.21%; the Dow fell 507.12 points, or 0.98%, to 51,492.55; and the Nasdaq dropped 1.34% to 26,021.66.

Market movers. Intel led the gainers, rising about 9% to $131.96 after President Donald Trump said in a social-media post that the chipmaker had agreed to design and build chips in the United States with Apple. Fortrea Holdings added about 7% and Marvell Technology rose roughly 6%. On the downside, Accenture tumbled about 15% and Kroger fell 6.9% to rank among the morning’s worst performers, while medical-device maker NovoCure dropped nearly 19% and Cognizant Technology Solutions slipped around 5%.

Analysts were active. Deutsche Bank kept a buy on Micron Technology and lifted its price target to $1,500 from $1,000, citing a memory-chip shortage tied to the artificial-intelligence boom. UBS upgraded software firm Dynatrace to buy from neutral and raised its target to $60 from $36. TD Cowen analyst Krish Sankar kept a buy on chip-equipment maker Cohu and raised his target to $80 from $60. Wolfe Research lifted Palantir Technologies to peer perform from underperform. The day’s loudest downgrade was Roku: Wedbush cut it to neutral with a $155 target and pulled it from its best-ideas list after Fox said it would buy the streaming-device maker, and Susquehanna, Piper Sandler, JPMorgan and Evercore ISI moved to the sidelines as well. Wells Fargo, meanwhile, was unimpressed by Snap’s new $2,195 “Specs” glasses, calling 100,000 first-generation units a stretch goal.

Commodities and volatility. Oil eased as the U.S.-Iran peace deal calmed supply fears. West Texas Intermediate crude traded near $74 a barrel and Brent sat around $83. Gold slipped about 2% to roughly $4,270 an ounce as buyers stepped back from safe havens. The Cboe Volatility Index, or VIX, which jumped more than 12% to 18.44 on Wednesday after the Fed surprise, eased back toward 17. Bitcoin fell about 1.3% to around $64,300.

The backdrop remains the Federal Reserve and the Middle East. Warsh said the Fed had dropped its forward guidance, leaving little steer on the next move, while this week’s U.S.-Iran memorandum — which calls for reopening the Strait of Hormuz over a 60-day negotiating window — has pulled energy prices down from their wartime highs.

Looking ahead, U.S. markets are closed Friday, June 19, for the Juneteenth holiday, so trading resumes Monday. Next week brings earnings from Micron Technology and FedEx, and the end of the month delivers fresh readings on first-quarter economic growth and the Fed’s preferred inflation gauge, the May personal consumption expenditures index — numbers that will test how seriously markets take Warsh’s hint at a rate hike.

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The drug middlemen lobby has had a busy week. It’s the second major lawsuit the PCMA has filed against a state law reforming the PBM industry since Monday.

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Health and Human Services Secretary Robert F. Kennedy Jr. announced more than $700 million for addiction treatment, mental health services, and homelessness programs during a visit Wednesday to an Easterseals behavioral health clinic in Clinton Township, Michigan, calling the effort part of the administration’s push to expand recovery services nationwide.

Kennedy said the investment would help move people struggling with addiction and mental illness off the streets and into treatment, strengthen families, and improve public safety.

But behavioral health advocates and policy experts quickly noted that most of the money is not newly appropriated funding. Instead, they said, the majority represents grants and programs that had already been approved by Congress and were expected to be distributed through existing federal channels.

The distinction is important because new appropriations expand federal spending, while previously approved grants simply continue programs already operating throughout the country.

The only major newly launched initiative announced Wednesday was a $96 million program known as STREETS — short for Safety Through Recovery, Engagement, and Evidence-Based Treatment and Support. The program will fund eight communities, each eligible for up to $3 million annually for four years, to coordinate treatment, housing, healthcare providers, law enforcement, and local governments in addressing homelessness, addiction, and serious mental illness.

The remaining $612 million will be distributed through existing federal behavioral health programs.

The largest allocation, nearly $239 million, supports the 988 Suicide and Crisis Lifeline, the national crisis hotline that provides phone, text, and online support around the clock. Another $223 million will go to community behavioral health clinics that provide mental health and substance-use treatment regardless of a patient’s ability to pay. Additional grants support mobile crisis teams, childhood trauma programs, tribal suicide prevention initiatives, and services for at-risk infants.

The funding announcement is tied to President Donald Trump’s Great American Recovery Initiative, created by executive order earlier this year. Kennedy co-chairs the effort alongside Kathryn Burgum, the White House senior adviser for addiction recovery.

Drawing on his own history of addiction recovery, Kennedy emphasized the role of faith and spirituality in treatment. He praised 12-step programs such as Alcoholics Anonymous and said faith-based recovery organizations would receive equal consideration for federal funding opportunities. He stressed that secular providers would continue to receive support as well.

The announcement comes after several months of controversy surrounding federal behavioral health funding. Earlier this year, HHS briefly canceled approximately $2 billion in mental health and substance-abuse grants before reversing course following criticism from lawmakers and treatment providers.

The administration also faced legal challenges after attempting to terminate billions of dollars in public-health grants tied to pandemic-era programs. A federal court later blocked those efforts.

Because of that history, providers say they are paying close attention to whether announced funding is truly additional money or simply part of existing grant cycles.

HHS has not disputed that much of Wednesday’s funding will flow through established programs. Instead, department officials have emphasized that the administration intends to direct resources toward recovery-focused approaches, accountability measures, and faith-based partnerships.

For treatment providers, the ultimate measure of success will not be the size of the announcement but whether funding reaches clinics, crisis lines, and local recovery organizations quickly and consistently.

The new STREETS initiative will likely serve as the administration’s first major test. If the program successfully connects vulnerable individuals with treatment, housing, and support services, officials will point to it as evidence that the recovery strategy is working. If implementation stalls, critics may argue that the announcement represented more symbolism than substance.

JBizNews Desk
Washington, D.C.

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The Jerusalem Post Group’s Asia-Pacific Summit will serve as a flagship international event, hosted in Sydney, Australia – a key regional hub connecting countries across the Asia-Pacific region. The summit is expected to bring together representatives from India, Singapore, Hong Kong, and other countries throughout the region. The event will convene senior business leaders, investors, entrepreneurs, policymakers, philanthropists, community leaders, and innovators from Australia, Israel, and the broader Asia-Pacific region for a high-level gathering focused on strengthening economic, strategic, and communal ties between Australia and Israel. 

“Australia may be known as the Land Down Under, but this conference is all about looking up and ahead,” said Jerusalem Post CEO Inbar Ashkenazi. “As one of Israel’s leading media organizations, The Jerusalem Post has long served as a bridge between Israel and the world. We are excited to bring our platform to Australia and help foster new conversations, partnerships, and opportunities.” 

Australia continues to represent a significant opportunity for Israeli companies, institutions, and investors. With a population of more than 27 million, a GDP exceeding US$2 trillion, a stable economy, a sophisticated investment environment, and strong demand for innovation across healthcare, education, cyber, real estate, construction, foodtech, greentech, and financial services, Australia offers a natural gateway for Israeli companies seeking growth in the region. 

The opportunity is especially timely as the Australia-Israel business relationship continues to expand. In recent years, trade between the two countries reached approximately US$1 billion, with Israeli exports accounting for nearly three-quarters of that total. Israeli companies such as Check Point, CyberArk, BioCatch, Teva, and Strauss have already demonstrated the potential for Israeli innovation to succeed in the Australian market. 

Israeli companies have also been listed on the Australian Securities Exchange, underscoring the opportunity to build a broader conversation around capital markets, cross-border investment, growth companies, and collaboration between the Tel Aviv Stock Exchange and the ASX. 

Beyond business, Australia is home to one of the world’s most engaged Zionist communities. The Australian Jewish population is estimated at approximately 120,000 people, with the vast majority concentrated in Sydney and Melbourne. The community has a long history of support for Israel, Jewish education, philanthropy, and institutions that strengthen Jewish identity, continuity, and resilience. 

The Jerusalem Post is creating a platform that brings together business opportunity, Jewish leadership, Israel engagement, and community impact. 

The summit is expected to feature keynote addresses, high-level panel discussions, one-on-one conversations, sector-focused sessions, networking opportunities, and curated business meetings. The final program will depend on sponsorships and confirmed partners, but participants can expect a full day of substantive discussions and meaningful connections. 

Topics are expected to include healthcare and medical innovation; real estate, property, and construction technology; foodtech and climate resilience; cybersecurity; capital markets and investment; higher education and Jewish leadership; and conversations about Israel, Zionism, and the future of the Jewish people. 

“This summit will continue The Jerusalem Post Group’s tradition of successful international conferences, which have been held in cities including London, Dubai, Marrakesh, Washington, D.C., and others around the world. We are excited to bring The Jerusalem Post to Australia and to host our first-ever Asia-Pacific Summit in Sydney,” Ashkenazi added. “We look forward to welcoming participants to Sydney and strengthening the relationship between Australia and Israel.”

For partnerships and additional details, please contact us at conferencep@jpost.com 

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Iranian singer Parastoo Ahmadi, musicians Ehsan Beiraqdar and Soheil Faqih Nasiri, and six members of the production team for the Caravanserai Concert were ordered to be lashed 74 times by the Qom Province’s criminal courts, according to Iranian human rights groups and diaspora media organizations, which announced the news on Thursday.

The artists will also face a two-year travel ban and a two-year restriction on all artistic activity after the Iranian judiciary found the nine artists had offended “public decency through the production and publication of obscene and immoral content on cyberspace platforms.”

The group was first arrested after their performance was broadcast on YouTube in December 2025. They were ordered to appear before the Prosecutor’s Office for Moral Security that January.

The Qom Provincial Criminal Court prosecuted the group under articles of the Islamic Penal Code, including Article 638 and Article 743 of the Computer Crimes Law, according to BBC Persian.

Article 638 of the Islamic Penal Code criminalizes the performance of any “open religious taboo” or acts that offend public decency, such as appearing without a hijab, and Article 743 criminalizes the promotion or encouragement of corruption, prostitution, or acts deemed offensive to public morality via digital networks.

In Ahmadi’s performance, she sang without the hijab. Women are also forbidden from singing to any audience with male members, the punishment for which is often flogging.

Women singing not against Iranian law, lawyer argues

The Iranian legal organization Dadban reported that lawyer Mohammad Hadi Jafarpour asserted that a woman’s singing is not criminalized in Iranian law and such interpretations of the penal code are without merit.

The IRGC-affiliated Tasnim News Agency, quoting the head of the Information Center of the Mazandaran Province Police Command, reported that “following the production and publication of a video by Ms. Parastoo Ahmadi that was deemed contrary to social norms and values, she was summoned to the Public Security Police and instructed to appear before the judicial authorities.”

Iranian-American journalist and activist Masih Alinejad wrote in response to the verdict, “They call America the Great Satan. And then they flew to the table and signed a deal with the «Devil«. But a woman’s voice scared them more than any superpower ever could.

“A regime that whips women for showing their hair and singing, there’s not a normal government. This is called apartheid against women.”

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US President Donald Trump arrived at the Group of Seven summit in France this week with a new US-Iran agreement to sell, a restless Israeli ally to discipline, and a familiar message for the world: He alone had done what others would not.

The result was a diplomatic week that sounded less like a standard summit communiqué and more like a rolling Trump production – part peace announcement, part grievance session, part loyalty test.

The sharpest remarks were aimed at Prime Minister Benjamin Netanyahu, whose latest strikes in Lebanon angered Washington just as Trump was trying to lock down an agreement with Tehran. Speaking in Évian-les-Bains, Trump said Netanyahu “has to be more responsible with respect to Lebanon,” calling the Beirut strike “vicious” and “too much.”

Then came the line built for headlines.

“Without us, without the United States, there would be no Israel,” Trump said, according to CBS News. “Without me, there would be no Israel, because no other president was willing to do what I did.”

Trump calls Netanyahu ‘very difficult’

It was not the only sweeping claim. In an interview reported by The New York Times and quoted by Israeli media, Trump described Netanyahu as “a very difficult guy” and said the Israeli leader should be grateful for the Iran agreement. “Because if Iran had a nuclear weapon, Israel wouldn’t be around for two hours,” he said.

That remark captured the new tension in the relationship. Trump continues to frame himself as Israel’s indispensable protector, but he is also increasingly willing to speak about Netanyahu as a problem to be managed rather than a partner to be praised.

The irritation has been building. Axios reported earlier this month that  Trump erupted at Netanyahu in a profanity-laced call over Israeli escalation in Lebanon, accusing him of endangering the US-led Iran talks. CBS News reported that Trump later told Fox News he had asked Netanyahu, “What the f*** are you doing?” after the Beirut strikes.

Israel divided on Trump deal 

Israel’s political class, meanwhile, has been divided not over whether Iran remains a threat, but over whether Trump’s deal restrains Tehran or rewards it. Netanyahu has avoided a full public rupture, saying the decision belongs to Trump while insisting that Israel must protect its own security interests. Far-right ministers were less restrained. National Security Minister Itamar Ben-Gvir said, “Trump’s agreement does not bind us,” while Finance Minister Bezalel Smotrich called the deal bad for Israel and “the entire free world.”

The discomfort was not confined to Jerusalem. At the G7, French President Emmanuel Macron was caught on a hot mic telling Ukrainian President Volodymyr Zelensky that he had had a “difficult discussion” with Trump. The moment offered a small but revealing glimpse of how other leaders now work around the American president: carefully, quietly, and with the microphone ideally off.

Trump, for his part, presented the Iran deal as proof of leverage, not compromise. He said the memorandum of understanding clearly states that Iran will not obtain a nuclear weapon and that he was open to sending the agreement to Congress for review. He also warned that “all hell will rain down” if Tehran tries to build a bomb.

For Israel, the week exposed an uncomfortable reality. Trump remains popular, powerful, and rhetorically committed to Israel’s survival. But his support now comes with public scolding, transactional accounting, and an unmistakable demand that Netanyahu not interfere with the deal Trump wants to call his own.

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Now that Iran appears to have signed a memorandum of understanding with the United States, the clock will be ticking towards what comes next. There are concerns in the region that conflict could return. The nuclear file, Strait of Hormuz, Iran’s frozen assets, and other issues remain to be solved.

At the center of what comes next will be Iranian Supreme Leader Mojtaba Khamenei. His father, the former Supreme Leader, was killed at the outset of the conflict. However, there are questions about how the new Khamenei actually holds onto power.

“For the Supreme Leader, surviving the war may be the easiest part, and the hardest struggle, which is transforming the title of Iranian Supreme Leader into real leadership, began as soon as it ended,” Al-Ain media in the UAE noted this week. Al-Ain is a publication with unique sources and access in some areas of the region, and it also reflects thinking in the UAE. As such, it is worth listening to what it has to say.

IRGC reaches unprecedented level of power, report warns

The report, which is partly based on a separate report from The Telegraph in the UK, noted that “the Iranian Revolutionary Guard and its generals have never before reached this level of power, especially given their claims that they saved the regime from collapse, which will put Khamenei’s son at risk if he does not maintain the loyalty of these generals.” It is worth noting that Mojtaba has not appeared in public and is assumed to have been wounded in the February 28 attacks.

The new Iranian regime is considered to be more “militarized” than the former one. It’s worth noting that a month and a half before the attack by the US and Israel, Iran’s IRGC had massacred tens of thousands of protesters. The IRGC is thus considered stronger in Iran today.

“In theory, Khamenei Jr. has the final say; the constitution makes him the supreme commander of the armed forces, and no important decision becomes binding until he approves it. But this authority is worthless if the leaders of the Revolutionary Guard, whose position is still unclear, do not submit to it,” the report stated.

Iranian president could be ‘fall guy’ for Islamic regime

An Iranian official told the Telegraph that Iran has seen a shift in the balance of power. In fact, a separate source told The Jerusalem Post earlier this week that some believed hardliners in the IRGC might stage a coup to prevent a deal. Iran’s president, who is considered a moderate, has been the public face of the deal recently. He could become the fall guy.

The Al-Ain report added that “Khamenei’s style of governance and the extent of his authority have yet to be tested, and another official described the situation as being like a ‘closed watermelon’ that cannot be judged until it is opened.” The report noted that “in order for Mojtaba to effectively govern, he must dismantle the networks built by his father, marginalize the generals, outmaneuver rivals, and place his loyalists in power, and he has already begun to do so, according to The Telegraph.”

The Supreme Leader has a parallel intelligence structure that includes the Intelligence Ministry and the Revolutionary Guard’s intelligence arm. The report argues that the younger Khamenei will follow what his father did in 1989 when he assumed power.  “There is a possibility of getting rid of Gholam Hossein Mohseni Ejei, the head of the judiciary,” the report added. “Loyalists like Ahmad Vahidi, the Revolutionary Guard commander who is considered close to Mojtaba, may also be eliminated in the end despite their seniority.”

Al-Ain goes on to note that “Mojtaba is in a much weaker position than his father, who had years ahead of him to consolidate his power and had the blessing of the founder of the revolution, and his status as a first-generation revolutionary who spent time in the Shah’s prisons.” The uncertainty could lead to policy innovation or internal conflicts. 

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Knesset Constitution, Law and Justice Committee chairman MK Simcha Rothman said Wednesday that work had begun on the planned court complex in Atarot where hundreds of terrorists suspected of taking part in the October 7 massacre are expected to stand trial in a proceeding expected to pose extraordinary legal, logistical, and security challenges.

Rothman, who co-sponsored the law with Yisrael Beytenu MK Yulia Malinovsky, toured the designated site in the Atarot industrial zone in northern Jerusalem, near the Kalandiya crossing, where he said preparations had begun for the court complex.

Rothman said the tour was joined by Brig.-Gen. (res.) Yair Barkat, who was appointed by the IDF chief of staff as project manager for implementing the law, as well as representatives from the IDF Planning Directorate, the Israel Prison Service, and Central Command, who are handling the security and logistical challenges of transporting and trying high-risk defendants.

The start of work at the site, as Rothman described, would mark the transition from legislation to implementation. The Knesset passed the law last month by a 93-0 vote, creating a special framework for prosecuting terrorists involved in the Hamas-led October 7 attacks and authorizing the tribunal to impose the death penalty.

The law was designed to deal with a legal challenge almost without precedent in Israeli history: how to prosecute hundreds of suspects allegedly involved in a mass terrorist attack that included murder, abduction, sexual violence, looting, and other crimes alleged to have been committed during the attack, while also preserving evidence, protecting witnesses, securing the proceedings, and allowing the public record of the massacre to be documented.

The framework of the law is meant to handle cases involving Hamas terrorists and others involved in the massacre, including Nukhba terrorists captured inside Israel. Possible charges are expected to range from terrorism and murder to sexual violence and genocide-related offenses.

The law also creates special procedural arrangements for the trials, including dedicated security provisions, audiovisual documentation, preservation of trial recordings, and periodic reporting to the Knesset.

The government, earlier this month, approved a budget of more than NIS 1 billion for the years 2026-2029 to implement the law, including construction of the court complex, prosecution offices, an IDF headquarters facility, secure transport systems, manpower, broadcasting infrastructure, communications, medical services, and other operational needs.

Bulldozers have already begun preparing ground, MK says

Rothman said Wednesday that bulldozers had begun preparing the ground at Atarot following approval of the special budgetary framework. He also said the process of recruiting designated judges was in its final stages, with the legal system preparing for the first indictments in the near future.

“The work to establish the complex where the Nukhba terrorists will be tried for the crimes they committed against our people and our state has already begun,” Rothman said.

Rothman said the lawmakers who initiated the law would continue to follow its implementation through oversight hearings, ongoing work with relevant authorities, and site visits.

“The goal is clear: to ensure that the preparations for the modern Eichmann trials are carried out efficiently and without unnecessary delays,” he said.

Malinovsky said the process had “started moving,” adding that the sponsors of the law would continue to oversee implementation through follow-up hearings, daily contact with officials, and additional site visits “to make sure the preparations for the trials are carried out efficiently and quickly.”

The site, Rothman said, is expected to be heavily fortified and secured to allow the regular transport of hundreds of Nukhba terrorists from prison facilities to the courtrooms under heavy guard.

Rothman’s announcement came on the same day that the International Bar Association’s Human Rights Institute expressed concern over the law establishing the special military tribunal, saying that accountability for the October 7 attacks must be pursued through proceedings that meet international fair-trial standards.

The organization pointed to several aspects of the law that it said required scrutiny, including the composition of the tribunal, judicial appointments, possible deviations from ordinary evidentiary and procedural rules, multiple-defendant indictments, proceedings held in absentia in certain cases, and the tribunal’s authority to impose the death penalty by a simple majority of judges.

The IBAHRI also raised concerns about the use of military tribunals for civilians in capital cases, saying that proceedings involving the death penalty require strict adherence to fair-trial guarantees.

October 7 trials sparks major debate for lawmakers

Those concerns are part of a broader debate that has accompanied the law since its advancement. The Court Administration warned lawmakers in December that any model chosen for prosecuting October 7 perpetrators would require sweeping legislative changes, major budget allocations, secure facilities, protected witness arrangements, dedicated judges, orderly evidence rules, and careful preservation of fair-trial guarantees.

Supporters of the law have argued that ordinary criminal proceedings cannot properly handle the scale, gravity, and historical significance of the October 7 cases, and that the trials must allow victims, families, and the public to see the perpetrators held accountable.

Critics, including human-rights groups and some legal scholars, have warned that the combination of military-court proceedings, altered procedural rules, mass prosecutions, and the possibility of capital punishment could expose Israel to international legal criticism and future court challenges.

The first indictments have not yet been filed, but the announcement marked one of the clearest signs so far that the special tribunal framework is moving from legislation into implementation.

Keshet Neev contributed to this report.

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Rep. Nikema Williams (D-Ga.) reintroduced legislation on Thursday aimed at expanding access to mortgage credit by requiring lenders, at an applicant’s request, to consider additional financial information not typically reflected in traditional credit scores.

The legislation — titled the Expanding Access to Credit through Consumer-Permissioned Data Act and shared exclusively with HousingWire ahead of its reintroduction — would amend the Equal Credit Opportunity Act (ECOA) by requiring mortgage lenders to consider alternative financial data when evaluating borrowers.

Under the bill, lenders would be required to consider consumer-authorized alternative financial data, including rental payment history, bank-statement information and other payment records not typically included in traditional credit reports, if a mortgage applicant requests it and authorizes its use.

The legislation would also require automated underwriting systems to incorporate consumer-permissioned data into mortgage credit decisions.

Williams, who represents Georgia’s 5th Congressional District and is a member of the House Financial Services Committee, said the legislation is intended to help consumers who are “credit invisible” despite demonstrating a history of paying their bills on time.

“I’ve been unbanked. I know what it’s like to work hard, pay your bills and do everything right, only to have the financial system tell you that you don’t qualify,” Williams said in a statement.

Williams said she is now a homeowner and wants others to have the same opportunity. She also framed the measure as a step toward narrowing wealth disparities.

“Homeownership is one of the most powerful tools we have to build generational wealth and close the racial wealth gap,” she said. “My legislation will expand access to homeownership by recognizing financial responsibility wherever it’s found, helping more families secure the promise of America and build lasting wealth for future generations.”

According to findings included in the bill, approximately 32 million Americans either lack a credit history with the nation’s major credit reporting agencies or do not have enough credit history to generate a score. The legislation cites prior research from the Consumer Financial Protection Bureau (CFPB) showing that these consumers are disproportionately low-income, younger and people of color.

Supporters argue that incorporating alternative data into mortgage underwriting could help expand access to credit for borrowers with limited traditional credit histories while providing lenders with a more complete picture of an applicant’s financial behavior.

The bill would require lenders to notify mortgage applicants of their right to submit additional credit information and explain the potential benefits of doing so. Those notices would be required in the eight most commonly spoken languages among individuals with limited English proficiency.

The measure also directs the CFPB to develop implementing regulations and requires federal agencies and developers of mortgage underwriting systems to ensure compliance with the new requirements.

The legislation is co-sponsored by Reps. Sylvia Garcia (D-Texas), Bonnie Watson Coleman (D-N.J.), Gwen Moore (D-Wis.) and Alma Adams (D-N.C.). The Consumer Federation of America and the National Consumer Law Center are also endorsing the bill

If enacted, the CFPB would have 18 months to issue final rules implementing the legislation before the requirements take effect.

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BitGo Holdings, Inc. (NASDAQ) stock rose in Thursday’s premarket session as the company expanded its regulated crypto infrastructure offering in Europe.

Launches MiCAR-Compliant CaaS Platform

BitGo said its subsidiary, BitGo Europe GmbH, has launched a Markets in Crypto-Assets Regulation (MiCAR)-compliant Crypto-as-a-Service platform for eligible virtual asset service providers (VASPs), fintechs and digital asset platforms across the European Economic Area.

The launch comes as legacy national VASP registration regimes are phased out under MiCAR. The transition is especially important for crypto firms in Poland and Lithuania, where businesses are moving to the EU’s harmonized licensing framework.

BitGo Europe, which is authorized by Germany’s Federal Financial Supervisory Authority (BaFin), said its platform provides regulated custody, trading, transfer, wallet infrastructure, onboarding, KYC, SEPA payment rails and insurance coverage of up to $250 million for custodial wallets, subject to terms and conditions.

“MiCAR is raising the standard for digital asset businesses across Europe, and many VASPs now need a practical way to adapt without disrupting their customers,” said Jody Mettler, COO of BitGo.

Recent Buyback Program

BitGo recently announced a $50 million share repurchase program, equal to about 8% of its Class A shares outstanding. CFO Ed Reginelli said …

Full story available on Benzinga.com

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Michael Saylor‘s (NASDAQ:STRC) dropped below $89.50 Wednesday as crypto analyst DonAlt called Strategy Inc.’s (NASDAQ:MSTR) preferred stock “the worst Ponzi” he has ever seen, with buyers who paid $100 already down over 10%.

DonAlt Lays Out The Death Loop In Plain Terms

DonAlt posted the full breakdown on X: Saylor buys Bitcoin (CRYPTO: BTC), issues STRC, buys more Bitcoin with proceeds, average buy price rises. 

When the market drops, STRC depegs, Saylor sells Bitcoin below his average to repeg it, which pushes Bitcoin lower, forcing more Bitcoin sales.

When the market recovers, he issues more STRC at higher Bitcoin prices and the cycle repeats with a higher cost basis each time.

Peter Schiff added the immediate damage. STRC closed at …

Full story available on Benzinga.com

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Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) are rebounding from one of the industry’s deepest downturns, but StarkWare co-founder and Zcash creator Eli Ben-Sasson says crypto still faces an existential question.

“Worst Crypto Winter”

In a series of posts on X and a recent Privacy Podcast appearance, Ben-Sasson described the current downturn as “the worst crypto winter” he has witnessed since entering the industry in 2013.

Over the past month, BTC and ETH have eroded more than 16% amid geopolitical uncertainty and capital rotation into AI-focussed companies.

Despite improving prices and growing institutional interest, he argued that crypto remains in the middle of an identity crisis.

Ben-Sasson attributed the recent market recovery primarily to macroeconomic developments rather than industry-specific catalysts.

“Crypto will be the …

Full story available on Benzinga.com

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The number of Americans filing applications for unemployment benefits eased from last week’s four-month high as the job market continues to hold steady.
Initial jobless claims fell by 4,000 to 226,000 for the week ending June 13, according to new Department of Labor data released on June 18. The previous week’s reading was revised up to 230,000.
This came in slightly above the market forecast of 225,000.
The four-week average, which strips out week-to-week volatility, ticked up by 4,000 to 223,250.
Momentum in the U.S. labor market has seemingly stalled this month, maintaining the same low-fire, low-hire position of the past two years.
“Despite a strong payroll report in May, this is still a low-hire, low-fire market, and the labor data have yet to point to gathering momentum,” Indeed Hiring Lab economists said in a June 18 research note….

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The price of getting a foot on the property ladder has never been higher.

A record 242 cities across the United States now have starter homes worth $1 million or more, according to an analysis from Zillow released Monday, a sign of how far the cost of entry-level housing has climbed.

A starter home, as Zillow defines it, is one in the lowest third of home values in a given area, the kind of modest, lower-priced house a first-time buyer typically targets.

Nationwide, the typical starter home is worth $198,649, up 1.7% from a year earlier, which means seven-figure starter homes are still the exception.

But the number of places where they are the norm keeps growing.

The count rose from 226 cities a year ago and has nearly tripled since before the pandemic, when just 80 cities had million-dollar starter homes in February 2020.

Those homes are now spread across 26 states, up from only nine before 2020.

For years, million-dollar entry-level houses were almost entirely a coastal phenomenon.

Today they have reached interior states including Colorado, Texas, Wyoming and Illinois.

California remains the epicenter, with 105 cities where the typical starter home costs at least $1 million.

New York has climbed to 41 cities, up from just 12 before the pandemic, and New Jersey now has 26 cities, up from a single city.

New York and New Jersey are the fastest-growing on the list, adding 15 cities between them in the past year alone.

The cause traces back to the pandemic housing boom.

A housing shortage that had been building for a decade collided with a surge of demand at a time when mortgage rates were at historic lows, sending prices soaring at a record pace.

Kara Ng, a senior economist at Zillow, said the pandemic effectively reset the cost of buying a home, pushing million-dollar starter homes out from a handful of coastal markets to more than two dozen states.

Those effects, she noted, have proven durable even as the market has cooled.

Here is why it matters for ordinary families.

The starter home has long been the traditional first rung of homeownership, the place where young couples and first-time buyers begin building equity.

When that first rung costs a million dollars, it moves out of reach for all but the wealthiest newcomers, and it pushes more would-be buyers into renting for longer or leaving expensive regions entirely.

It is the human face of the same housing shortage that has kept new construction from keeping up with demand.

There is, however, a more hopeful side to the report.

Conditions are slowly turning friendlier for buyers who are financially prepared.

The typical buyer now breaks even compared with renting after about six years, down from more than eight years in late 2023.

Inventory is rising, price growth has slowed, and in many markets sellers now outnumber buyers, giving those still in the hunt more leverage than they have had in years.

The broader market has been stuck in a slump since 2022, with sales of existing homes hovering near a three-decade low.

Still, the headline number captures the strain on a generation of aspiring owners.

A million-dollar starter home would have sounded absurd in most of the country a decade ago.

Today it describes the entry point in 242 cities and counting, a reminder that even as the market softens, the bar set during the boom has barely come down.

Housing Market — JBizNews Desk

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The tech trade has handed investors both big gains and big worries. On Wednesday, Aisa Ogoshi, a managing director and Asia Pacific equities portfolio manager at JPMorgan Asset Management, told Bloomberg Television that the rally still has room left, even after a long stretch that has packed an unusual share of the market’s value into a small handful of companies.

Ogoshi did not downplay the danger. The biggest risk in the market right now, she said, sits inside the tech trade itself, because so much money is riding on so few names. When a small group of stocks carries the whole market higher, a stumble by any one of them can pull everyone down with it. That kind of concentration is exactly what makes experienced investors nervous.

Even so, she sees more room to climb. The next stretch of gains, in her view, runs through what she called the AI data center supply chain — the businesses that build, power, and connect the massive computing hubs that artificial intelligence depends on.

Here is what that means in plain terms. Every time a company rolls out a new AI tool, that tool has to run somewhere. It runs inside data centers, which are warehouse-sized buildings packed with specialized computers. Those buildings need chips to do the thinking, electricity to keep the machines running, cooling systems to stop them from overheating, and networking gear to tie everything together. Each of those pieces is a business, and many of them are publicly traded.

The spending behind all this is enormous. The group of giant technology companies often called the Magnificent Seven — Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla — is on track to spend roughly $527 billion on AI and data center projects in fiscal 2026, well above earlier estimates. Looking further out, total spending on data center infrastructure worldwide is expected to approach $1 trillion annually by 2030.

That wave of money is the heart of Ogoshi’s argument. The household-name tech stocks have already climbed a long way, and many now trade at rich valuations. But the suppliers further down the chain — the firms selling power equipment, cooling systems, network switches, and chips — stand to keep collecting orders as long as the building boom continues.

Nvidia, the chip designer at the center of the AI boom, remains the most direct way to bet on that demand, with a market value north of $4.5 trillion. Beyond it sit less famous names that still play essential roles. Vertiv makes the power and liquid-cooling systems that keep dense racks of computers from overheating. Arista Networks sells the high-speed switches that move data inside AI clusters, with customers that include Meta and Microsoft. Neither company is a household name, but both benefit whenever a new AI data center comes online.

The reason Ogoshi points beyond the obvious winners is straightforward. Betting everything on a single famous stock concentrates risk in one company, one product line, and one valuation. Spreading investments across the broader supply chain gives investors a way to participate in the AI buildout without relying entirely on the most crowded trade in the market.

Ogoshi also weighed in on Japan, where she spends much of her time as an Asia-focused portfolio manager. The Bank of Japan raised its benchmark interest rate to 1% from 0.75% at its June 15–16 meeting, continuing its gradual move away from years of near-zero borrowing costs. The central bank has been tightening policy as inflation remains above its 2% target, supported by a weaker yen and elevated energy prices.

Rising rates in Japan matter far beyond Tokyo. For years, Japan’s ultra-low rates made it a popular place for global investors to borrow money cheaply and invest elsewhere. As Japanese rates rise, that equation changes, potentially affecting capital flows and investment decisions worldwide.

For everyday investors, the takeaway from Ogoshi’s comments is less about chasing the latest hot stock and more about understanding where AI spending is actually going. The software gets the headlines, but the money is increasingly flowing into physical infrastructure — buildings, power systems, networking equipment, cooling technology, and advanced chips.

That does not eliminate the risk she highlighted. A market leaning heavily on a handful of technology giants can reverse quickly if AI investment slows or if one major player disappoints investors. But for now, Ogoshi’s message is that the trend remains intact, and that some of the best opportunities may lie one step behind the biggest names grabbing the spotlight.

As AI adoption continues to accelerate, the companies supplying the infrastructure that powers it may become some of the most important — and potentially most profitable — businesses in the market.

Wall Street – JBizNews Desk

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Thirty-seven years ago, a slightly skinnier version of myself entered the Israeli Security Zone in South Lebanon with my Givati platoon. We were all geared up with state-of-the-art tactical battle equipment of the day. 

Being the platoon’s combat medic, in addition to my weapon, helmet, flak jacket, heavy tactical vest, ammunition, and grenades, I had a lot of medical equipment, anti-mine shoes, and a portable stretcher on my back. 

Before we set out on our daily patrols and nightly anti-terrorist ambushes on the other side of the international border, whatever our mission briefing was, it always ended with the same mantra: “Our mission is to defend the northern settlements (from Hezbollah terrorists).”

My 20-year-old self would have been incredulous to learn that, almost four decades later, I am in the same place, with the same mission statement. Despite the intervening years, nothing seems to have changed. It is a depressing situation. 

I see young men and women in my PALMAR medical extraction unit who are not much older than I was the first time I was in Lebanon. The thought that they will be there in another four decades is a grim one.

I would also not have thought when I fought to reenlist in the IDF after the October 7 massacre – thus becoming the oldest combat medic in the IDF – that I would still be serving on an emergency call-up almost three years later, with Hamas still in power in an albeit reduced area in Gaza and Hezbollah – despite being weakened – still calling the shots in Lebanon.

I distinctly remember the feeling of waiting on an ambush in Lebanon. It felt like a game of Russian roulette. 

Many thoughts went on in our heads as we lay for hours in enemy territory protecting our northern border, chief of which was “Will it be our turn tonight to fight the Hezbollah terrorists attempting to infiltrate our homeland to leave a trail of murder and destruction?”

In today’s Lebanon, the troops have a similar feeling when wondering if they will encounter the still unsolved problem of fiber-optic first-person view (FPV) explosive drones.

I attended my first funeral during this time. I remember the sea of purple berets and the bereaved siblings, parents, and grandparents as if it were yesterday. Psychologists refer to this as a “reverse-order death.” In a normal world, children are supposed to bury their parents, not the other way round. 

Nothing seems to have changed, as every week we are still losing our best. As Billy Joel observed, “only the good die young.” This is not even factoring in the many wounded soldiers who my unit treats on an almost daily basis, whose lives will never be the same again. For what?

We never seem to be able to win a war. As Matti Friedman observed, a war needs to have a clear strategic goal to succeed. We are still fighting Hezbollah, which is still entrenched in every element of Lebanese society. We don’t know what victory looks like.

The North has been largely abandoned since October 7. Tens of thousands of residents are still unable, or do not want, to return home. We face the grim reality that this war of attrition seems to be never-ending. 

Israel is the only country that is not allowed, by its “allies,” to win a war. What is it all for, if we are not allowed to win this war?

The writer, currently stationed in Lebanon, is the oldest combat medic in the IDF. His latest book, Heroes of Palmar, How One IDF Unit Revolutionized Combat Medicine in Gaza, is available on Amazon and from Gefen Publishers.

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Travelodge has not been able to determine how a “free Palestine” message appeared on the room TV screen of a Jewish guest, the hotel chain told The Jerusalem Post on Thursday.

During the first week of June, a visibly Jewish man found “Free Palestine” on the TV in his Travelodge room in London Manor House, in London. 

A video he took of the TV soon went viral on social media, especially after he reported being met with hostility by a staff member at the front desk, who refused to look at him or properly serve him.

Travelodge close to concluding ‘robust internal investigation’

Travelodge told the Post on Thursday that it is very close to concluding a “robust internal investigation” into the incident, but has not been able to determine how or when the message was put on the TV.

It confirmed that the CEO has spoken with the guest to express apologies for the experience. 

“We have also been engaging closely with leaders and groups within the Jewish community to reiterate our absolute zero-tolerance stance on antisemitism and any form of discrimination and our commitment to ensuring that the Jewish community feels safe and welcome at all of our hotels,” the hotel added. 

“We have treated this incident very seriously from the outset as there is no place for antisemitism in this country and we took action immediately to address this.”

A source told the Post that the hotel reached out to Antisemitism Policy Trust shortly after the incident and is in discussions with them about training on antisemitism in the business.

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A global conspiracy of “Jewish supremacists” is preventing a Los Angeles man from attending the Tuck School of Business at Dartmouth College, according to a lawsuit filed in the US District Court in Concord.

The plaintiff filed his lawsuit under the John Doe pseudonym to protect himself from the supposedly deadly conspirators. But that could change. On Friday, Judge Stephen McAuliffe ruled that there is no compelling legal reason to allow the lawsuit to proceed anonymously.

“Doe does assert that his physical safety will be threatened if he is not allowed to proceed pseudonymously because ‘Jews commonly harm or murder their opposers.’ But, those allegations, unsupported by any particularized evidentiary showing, are, to put it charitably, not credible,” McAuliffe wrote.

Doe’s original complaint against Dartmouth claims he was rejected from the business school despite having good grades. He is, of course, representing himself.

“Plaintiff applied with a GMAT test score higher than 99% of test-takers and higher than approximately 95% of 2024’s entering class. Plaintiff applied with an undergraduate GPA within the normal range of admitted students and a long career of impressive and unique accomplishments. Despite Plaintiff’s outstanding qualifications, Dartmouth notified Plaintiff on May 2, 2024, that his application for admission was denied,” Doe states.

Doe claims he was rejected for being white

The obvious reason for the rejection, according to Doe, is that he is a White gentile.

“Nearly all ‘White’ students at Dartmouth, including the business school, are Jews. Non-Jewish Whites are nearly completely excluded from admission unless they meet a few criteria that are not required of Jews or non-Whites: they must be female, they must be queer, or they must be veterans of the US armed forces,” Doe claims.

Doe’s complaint against Dartmouth is rife with antisemitic, unfounded claims: Jews oppressed and enslaved the ancient Egyptians; the Holocaust is fictional; Jews committed genocide against Germans during World War II; and Jews murdered President John F. Kennedy.

Notably, Doe is suing other prestigious business schools that rejected him. Doe has a lawsuit against Harvard University and the University of Pennsylvania’s Wharton School of Business. All of Doe’s complaints blame “Jewish supremacists” for his failure to get into an MBA program.

Dartmouth declined to respond to a request for comment.

Does claims ‘HR Jews’ would impede future job search

As in his lawsuit against Dartmouth, judges in the other cases have ruled he cannot pursue his lawsuits and remain anonymous, which Doe claims puts his career and life in danger due to the number of powerful Jews around the world.

He wrote that “HR Jews” would make sure he was never hired at a traditional job, and that “Venture Capital Jews” would make sure he could never get investment funding for any business. Doe argues that if his name were known, he would be called a “Nazi,” which would be a difficult problem for his social life. But the most dire claim is that Jewish agents would target him for assassination. Doe claims to know this firsthand. Possibly.

“Plaintiff may have already survived an assassination attempt by Jewish agents. Through a series of unlikely events, seemingly contrived by apparently conspiring Jews, Plaintiff was enticed by an attractive, busty Jewess and wet his mouth with a drink of partially unknown provenance. Hours later, Plaintiff experienced overwhelming fatigue and ‘twilight consciousness’ for hours – an event never experienced by Plaintiff prior or since. Plaintiff suspects he was poisoned by Jews,” he wrote.

None of this convinced McAuliffe or the other judges.

“Doe fails to plausibly allege with any degree of specificity a legitimate threat to his physical safety,” McAuliffe wrote.

Doe has until next week to appeal McAuliffe’s ruling or file his case under his actual name.

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A rabbi in Ocean County is being sued by a woman who claims he sexually assaulted her when she came to him for financial help, then defamed her on a website and in fliers he posted near her children’s school.

Avraham Appel, of Jackson, abused his position as a trusted community leader to sexually assault and exploit the woman, an Israeli immigrant who came to him as a single mother struggling to pay bills, according to the lawsuit, filed in the Superior Court of Ocean County.

Appel is a prominent rabbi and Rosh Kollel, or head of a Jewish institute for advanced Talmudic study, who is based in Lakewood and Jackson, according to court papers filed January 5.

Appel did not respond to calls to his home and cellphone seeking comment on the lawsuit.

The woman claims she confided in one of her children’s schoolteachers in early 2020 that she was in significant financial distress and having trouble paying for daycare.

The teacher suggested she contact Appel, according to the suit.

In February 2020, Appel arranged to meet with the woman at a local Starbucks.

“During that meeting, Appel presented himself to (the woman) as a rabbi, mentor, advisor, and friend whom (the woman) could trust, confide in, and depend on,” the lawsuit states.

Appel, who had experience in real estate, allegedly offered the woman an opportunity to solicit investments on his behalf and to “draw,” or advance, money against future commissions.

Rabbi issues payments to woman after alleged sexual assault

In June and July 2022, Appel issued six payments to the woman, totaling $20,000 and characterized as advances or loans. He also provided the woman with “financial assistance” so she could buy groceries and pay medical expenses and water bills, according to the suit.

The lawsuit claims most of the money was meant to buy the woman’s silence after he attacked her on June 1, 2022.

The suit alleges Appel visited the woman while she was alone at home and sexually assaulted her as she pleaded for him to stop.

“Appel was abusive and unrelenting. The more (the woman) pled for mercy, the more aggressive Appel became,” the suit alleges.

Before leaving her home, he allegedly ordered her to delete Ring camera footage that showed him arriving.

In the months after the assault, Appel “forced himself upon” the woman and took sexual advantage of her on other occasions, the suit claims.

Appel also allegedly bombarded the woman with demands for sexual acts and sent her a barrage of text and WhatsApp messages containing crude and graphic sexual content.

“I want to squeeze your breasts,” one text allegedly said. In another, he sent the woman a photo of his penis, the suit alleges.

In July 2024, the woman met with another rabbi and shared evidence of the sexual assault and “other incidents involving Appel,” the suit claims.

Woman offered $50,000 for therapy after sexual assault

Appel later contacted his attorney and the two offered the woman $50,000 to cover her future therapy expenses.

The money would be available only if the woman signed a release of any claims related to the assault and agreed to keep all incidents between them confidential, according to the suit.

The woman refused to accept the money or sign the agreement, the suit says.

Appel then launched a campaign to destroy the woman “personally and professionally,” according to the lawsuit.

On December 15, 2025, the woman became aware of a website with her photos that claimed she was “a danger to all Jews,” and warned the public to stay away from her, according to the complaint.

The website disclosed the woman’s address, claimed she stole money, and characterized her as a “thief.”

Moreover, Appel and possibly others posted signs smearing the woman. The signs were posted at public locations throughout the community, including the school her two children attended, the suit alleges.

The lawsuit claims sexual assault, invasion of privacy, intentional infliction of emotional distress, defamation, and conspiracy.

The complaint also alleges Appel breached his duty as a rabbi to conduct himself with loyalty and in good faith.

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WASHINGTON — Twannetta Weaver felt like she made the responsible choice when she enrolled in a high-deductible health insurance plan through her employer, an option that avoided high premiums and allowed her to save for retirement.

Then, in 2025, she slipped a disk in her back, requiring medication and physical therapy. Suddenly, the medical bills were so overwhelming that Weaver, an adult learner working toward a leadership degree on the side, had to delay graduation by a year.

Read the rest…

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The real estate industry just got a headline that reads like a misprint. Bed Bath & Beyond is buying a brokerage. The same Bed Bath & Beyond that filed for bankruptcy and closed every store it owned a few years ago. The brand name will grab the attention. The strategy behind it is what industry leaders should study.

On June 17, Fathom Holdings signed a definitive agreement to be acquired by Bed Bath & Beyond, Inc. in an all-stock transaction. The deal values Fathom at roughly $53.38 million, with Fathom shareholders receiving 0.2236 shares of Bed Bath & Beyond stock for every share they own. The companies expect to close in the second half of 2026, subject to regulatory approval and a vote of Fathom shareholders.

Not yesterday’s Bed Bath & Beyond

The company writing the check is not the retailer most people remember. The original Bed Bath & Beyond collapsed in 2023. Overstock.com bought the brand and the intellectual property out of bankruptcy, renamed itself Beyond, Inc., then in 2025 took the Bed Bath & Beyond name back because it was the most valuable piece of intellectual property the company owned.

Today, led by the television entrepreneur Marcus Lemonis, it owns Bed Bath & Beyond, Overstock, buybuy Baby, Kirkland’s Home, The Container Store and a portfolio of other assets. It is a holding company built around a famous name.

Lemonis has been direct about the vision. He is building what he calls Everything Home, an ecosystem organized around three pillars: homeownership and transactions, omnichannel commerce, and home services. Fathom fills the first pillar, bringing brokerage, mortgage, title, insurance and a technology platform. The pitch is a single company that can sell a consumer the house, finance it, insure it and then furnish it. On paper, it is a coherent idea, and Lemonis has assembled real scale to chase it.

Give both companies their due. Fathom is a respected, fast-growing platform. In 2025, it generated about $420 million in revenue, up 25% year over year, with transactions up nearly 15%, built on a technology-first model and a growing set of higher-margin mortgage and title services. Bed Bath & Beyond, for its part, has been mounting a real turnaround. In its most recent quarter it returned to revenue growth for the first time in 19 quarters, sharply narrowed its losses, and ended the period with about $163 million in cash.

The structure deserves a clear eye

This is an all-stock deal, so the value moves with the share price, and neither company has reached profitability yet. That is not unusual in this part of the industry, where plenty of well-regarded names have run at a loss while building scale, but it does mean the payoff here depends on execution.

When the news broke, Fathom shares jumped about 82%, a sign investors saw real upside in the pairing. The honest way to read it is two growth-stage companies, each bringing real assets, betting that together they can reach a scale neither could reach alone.

Here’s why this matters beyond one transaction. The deal is part of a sustained push to own the entire homeownership journey. Portals, national brokerages, lenders and now a retail conglomerate are all chasing the same outcome: a single front door that captures search, financing, title, insurance, the sale itself and everything the consumer buys after the keys change hands. Whoever owns that front door owns the customer relationship and the data that comes with it.

That ambition raises questions our industry should be discussing now

When one company controls every step of the transaction, where does independent advice live? What does real consumer choice look like inside a closed ecosystem? And what happens to open competition, and to the MLS, when the goal is to keep the consumer inside one funnel from the first search to the closing table? These are not reasons to panic. They are reasons to pay attention and to lead the conversation rather than react to it.

There is a larger point that often gets lost in deal coverage. You can bundle services. You can connect a brokerage to a lender to a title company to an insurance product to a furniture catalog. What you cannot bundle is trust and judgment.

The purchase of a home remains the largest financial and emotional decision most people ever make and consumers still want a knowledgeable professional who represents their interests, reads the local market and negotiates on their behalf.

No platform has replaced that, and the evidence keeps pointing the other way. The more the transaction gets automated and packaged, the more valuable independent, expert human guidance becomes.

Here’s the honest read for industry leaders

The name on this deal is a curiosity. The strategy behind it is the story. The race to own the full homeownership journey is accelerating, and it is not going to slow down. Our job is not to fear it. Our job is to compete on the one thing these platforms cannot manufacture, the trusted relationship between a skilled professional and the family they serve. That is where the lasting value sits, and it is not for sale.

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

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

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

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Ralo, an AI-native mortgage broker founded by two former Google employees, has raised a $2.9 million seed round to expand its automated home loan platform, which the company says delivers interest rates below the national average and closes loans in roughly half the industry’s typical timeline.

Co-founders Arjun Lalwani and Helly Shah, who met while working at Google, position Ralo as the “first AI-native mortgage broker,” meaning the mortgage process, from initial rate shopping to post-closing, is handled primarily by an AI loan officer rather than a human one. 

Ralo, which is a portmanteau of the words “rates” and “low,” uses artificial intelligence to help consumers compare mortgage options, obtain preapprovals and navigate the loan process. 

“We started Ralo because we were homebuyers ourselves. Arjun bought a condo in San Francisco, I bought a condo in New York, and we went through the mortgage process. And as two Googlers … it was absolutely jarring how archaic the mortgage process is for consumers,” Shah said in an interview with HousingWire ahead of the launch.

Shah and Lalwani became licensed loan officers and built Ralo over the span of one year. As a licensed broker, the company is onboarded to lender platforms and uses its engine to surface the lowest rate available for a borrower’s scenario on a given day. Ralo’s technology aggregates and synthesizes price sheets from multiple wholesale lenders

“Helly and I took the hard path of getting licensed as loan officers ourselves … because if you’re building tech for this industry and for customers, we need to understand both sides,” Lalwani sai.

The founders, who are the sole employees of the company, did not disclose which lenders they are currently working with. 

New York-headquartered Ralo said it closed its first loans in March and is currently licensed in California, Colorado and Texas. The company did not disclose how many loans it has done, but it currently reports that customers are seeing an average savings of 0.6 percentage points relative to the national benchmark, with some cases reaching 1 full percentage point. 

“We use AI to shop for deals, eliminate a lot of the intermediaries, and reduce processing costs for end consumers, and that usually means that customers get rates that are more than half a point below the national average,” Lalwani said.

He added that Ralo is “hovering” at an average of 15 to 17 days to closing.

Shah said that the entire process is automated using AI and that customers can go to Ralo, answer a few questions without having to provide their email or phone number, and see what the best deal is available for them on that day. “That is automated with AI,” she said. 

Shah said that if a customer chooses to proceed, Ralo’s AI loan officer guides them through the entire process, but she and Lalwani are on standby if human help is wanted. 

The funding round included backing from investors like Y Combinator, Manresa Ventures and Pack Ventures, along with angel investors Charles Ferguson, the director of the documentary “Inside Job,” and Ryan Frazier, co-founder and CEO of Arrived.

The founders were part of startup accelerator Y Combinator’s spring 2025 cohort. Shah and Lalwani confirmed that the seed funding will be used in three main areas: product and engineering enhancements; sales and marketing to build brand awareness; and licensing expansion beyond the handful of states where Ralo is currently approved to operate.

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There is no denying that consumer usage of AI during a home sale or purchase transaction is on the rise. 

According to a study published earlier this month by Veterans United Home Loans, 53% of prospective homebuyers say they’d be comfortable buying a home without any direct human involvement. The study also found that 89% of prospective buyers would share personal financial information with an AI-powered lender tool for tailored mortgage advice. However, only just a quarter of survey respondents said they would be “very comfortable” closing a home purchase without any human involvement. 

Additionally, a Realtor.com study published in October 2025, found that 82% of consumers are using AI for real estate insights. Additionally, while 65.6% of survey respondents found getting information from real estate agents as a “positive use of time” this was closely followed by 61.9% of consumers reporting that getting information from AI was a positive use of time. 

So while consumer AI-usage is going up, it is clear that a large portion of homebuyers and sellers still want a human advisor involved in the transaction. However, brokers say this is changing the role of the human real estate agent.

“The conversation we’ve been having with our agents is how do we transition from information providers to real estate advisors because with AI and technology consumers can get all of the information, but the information is only as good as the questions you are asking,” Amy McCann, the head of agent success at The Keyes Company, said. “So, how do we take that information that the consumer was able to generate and then use judgment and local knowledge and really our experience to advise them on what makes sense.”

How consumers are using AI

Brokers said they are seeing clients use AI to do everything from find information about neighborhoods to advising them on lists or offer prices on properties. Due to this, Linda O’Koniewski, the broker-owner of Leading Edge Real Estate, said she has recently rewritten a series of letters the brokerage sends to clients over the course of their home buying or selling journey.

“We know the consumers are using AI, and we are telling them that AI is for research, not decisions or judgement as real estate is so nuanced,” she said. “The biggest thing is that they shouldn’t be outsourcing their thinking as they make the largest financial decision of their lives.”

While some agents may be frustrated or feel threatened that their clients are using AI, O’Koniewski said it is important for agents not to scold consumers for using AI. 

In addition to general research, pricing and even contract review, O’Koniewski said she and her agents have also seen consumers create repair lists for a seller based on home inspection reports. 

“Our listing agents and sellers have gotten repair lists back that are just ridiculous with things like gutter extensions and GFCI outlets and that just aggravates the sellers,” O’Koniewski said. “AI is a very poor gauge of the labor costs in most markets and it doesn’t understand local business customs and practices.” 

McCann said she and her agents in Florida have also seen these AI-generated repair lists. 

“What we’ve focused on with our agents is how to take this information and use judgement and understanding of the local marketplace to put the plan into action,” McCann said. “One of the things I tell our agents is that it’s an evolution of what we’ve been seeing. It went from information being passed from friends and family, to then the internet, to now having AI. They are checking with LLMs at every stage, and they are coming to the table armed with all this information and then asking the agents to put it into use and create the strategy for them to move forward.”

Could consumer reliance on AI impact commissions?

This increased consumer reliance and confidence in AI comes as industry experts predict that AI could drive down real estate agent commissions. “The Home Sale Transaction, Reconsidered,” published last week by Amit Kulkarni and Russ Cofano of Alloy Advisors, broke down the tasks bundled into a listing commission that have been commoditized by software and AI, finding that the remaining “human core” of the job does not scale with home price. 

Before AI, the report found that tasks like MLS entry, listing descriptions and transaction coordination had a combined market value of roughly $1,500 to $3,500 per listing, but with modern tools, the report found that their marginal cost of these services has fallen close to zero for a competent AI user, aside from $10 to $30 per deal for workflow software. As for the “human-value tasks” like skilled negotiation, emotional coaching, hyperlocal knowledge and licensed fiduciary accountability, the report estimated that costs to be roughly $2,000 to $6,500 per transaction, regardless of home price. If this cost does not scale with home prices, this, in theory, could drive down commissions for some agents. 

To O’Koniewski, this presents a great opportunity for the top agents and those willing to go the extra mile for clients to really shine. 

“The smart agents, the good agents, will always do extremely well because they don’t operate on an algorithm,” she said. “They work on high emotional intelligence, they bring amazing insight to the transaction and they protect people from themselves. People want to work with people who care.” 

McCann agrees, saying this change in consumer behavior has caused agents to “step up their game.” 

“There is so much information out there, so it is a matter of the agents coming to the table more informed and being able to translate that into what that actually means for pricing and strategy,” she said. 

Where to start

As for agents concerned about working with these AI-equipped consumers, O’Koniewski said the first thing she tells every agent to do is search the questions that buyers and sellers are most frequently asking AI so they can be aware.

“Then, make sure you are going into a listing appointment or a buyer meeting knowing the information that the LLMs can’t gain access to,” she said. “I am also encouraging my agents to go into and LLM in incognito mode in their browser and ask the AI what a fair price is on a property so they can go into a listing appointment and show the client that they asked AI too and then they can see the discrepancies in answers and have a conversation about how the AI lacks local context.” 

Here’s a strong ending that brings it back to the agent’s value without sounding defensive:

For brokers, the shift is less about competing with AI and more about helping agents understand where it stops.

Consumers may arrive with more information than ever, but that doesn’t mean they have the context, judgment or strategy to use it well. AI can summarize an inspection report, suggest a list price or explain contract language, but it can’t read the room during a negotiation, understand the seller’s motivation or know which repair requests are customary in a specific market.

That is where brokers say agents have to make the turn from being the source of information to being the interpreter of it.

AI may be changing the questions consumers bring to the table. But for agents who can provide judgment, local expertise and a steady hand through an emotional transaction, the answer may still be very human.

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Are you ready to begin a fulfilling real estate career in the Sunshine State? To get started, you have to complete 63 hours of prelicensing coursework through a state-approved real estate school before you’re allowed to take the licensing exam. Most schools offer this online now, which makes it easier to work through the material without putting your life on hold.

Not all online Florida real estate schools are the same. Some are better if you want structure and support while others work well if you just want to get through the coursework at your own pace. We’ve broken down the best online Florida real estate schools for 2026, comparing course formats, pricing, study tools and exam prep so you can choose the option that actually fits how you learn and fits your budget.

8 best real estate courses in Florida: Our top picks

Logo-300x100_The-CE-Shop

Best for overall experience and learning tools

The CE Shop

From $139

Jump to details ↓

Use HW30 to Save 30%

Aceable Agent logo

Best for mobile learning and audio lessons

Aceable Agent

From $179

Jump to details ↓

Click to Save 20%

Logo-Colibri-wide

Best for progress tracking and accountability

Colibri Real Estate

From $169

Jump to details ↓

Use HousingWire40 to Save 40%

Casa Academy logo.

Best for audio and AI-enhanced learning

Casa Academy

From $49

Jump to details ↓

Use HW20 to Save 20%

Logo-Kaplan-png

Best for exam prep and instructor support

Kaplan Real Estate

From $269

Jump to details ↓

VISIT

Logo-Gold-Coast-Schools

Best for personalized learning experience

Gold Coast Schools

From $329

Jump to details ↓

VISIT

New York Real Estate Institute (NYREI) logo

Best for budget-friendly, straightforward learning

RealEstateU

From $99

Jump to details ↓

VISIT

Logo-VanEd

Best for affordable learning on the go

VanEd

From $139

Jump to details ↓

VISIT

8 best real estate courses in Florida: Our top picks

Best for overall experience and learning tools

The CE Shop

From $139

Use HW30 to Save 30%

Jump to details ↓

Best for mobile learning and audio lessons

Aceable Agent

From $179

Click to Save 20%

Jump to details ↓

Best for progress tracking and accountability

Colibri Real Estate

From $169

Use HousingWire40 to Save 40%

Jump to details ↓

Best for audio and AI-enhanced learning

Casa Academy

From $49

Use HW20 to Save 20%

Jump to details ↓

Best for exam prep and instructor support

Kaplan

From $269

VISIT

Jump to details ↓

Best for personalized learning experience

Gold Coast Schools

From $329

VISIT

Jump to details ↓

Best for budget-friendly, straightforward learning

RealEstateU

From $99

VISIT

Jump to details ↓

Best for affordable learning on the go

VanEd

From $139

VISIT

Jump to details ↓

The CE Shop: Best for overall experience and learning tools

Logo-300x100_The-CE-Shop

Starting from: $139

The CE Shop earns our top spot for one simple reason – it combines strong course content with tools that actually help students pass the exam. Features like a five-day free trial, a pass guarantee and its Exam Prep Edge study tools are all included with higher-tier packages, making it easier to prepare without having to guess what you’ll need to pass the exam.

Their platform is easy to use and includes short, self-paced lessons that allow you to fit lessons into your busy schedule without losing your place. Exam Prep Edge includes quizzes, flashcards, matching exercises and practice tests that reinforce key concepts as you go. For students thinking beyond licensing, the Premium Package also includes first-time renewal coursework and access to the Kickstarter Professional Development Program, which covers business planning, lead generation and negotiation basics.

Pros & Cons

  • 5-day free trial
  • Progress tracking
  • Exam Prep Edge study tool available in higher tiered packages
  • Limited access to instructors
  • No pass guarantee available in Florida
  • Content is text heavy

Features

  • Course formats: Fully self-paced online courses.
  • Course access: Six months from the date of purchase.
  • Refund policy: Available within 30 days of purchase so long as your course is less than 50% complete.
  • Guarantees: Not available in Florida
  • Exam prep: Exam Prep Edge is included in higher tiered packages and provides unlimited practice questions and exams, quizzes and flashcards to help you focus on areas you need improvement and reinforces what you’ve already learned.
  • Student support: Instructors are available to answer any questions, Monday through Friday, via email. General support is also available daily via phone, email or chat Monday through Saturday.
  • Final exam: Course exams must be proctored and are provided by The CE Shop in most states.

Pricing

The CE Shop offers four prelicensing course packages, plus Florida real estate continuing education and broker licensing courses in Florida. All three top-tier prelicensing packages include Exam Prep Edge to help you retain information and ace the exam.

  • Courses Only ($139): 63-hours of Florida prelicensing education including e-books, career and downloadable resources, flashcards, glossary of terms and a study schedule.
  • Standard Package ($239): Includes all the features in the courses only package plus Exam Prep Edge.
  • Value Package ($315): Includes the Standard Package plus the Kickstarter Professional Development Program.
  • Premium Package ($459): Includes the Value Package plus 45-hours of required post-licensing education and a Career Companion e-textbook.

Enroll in The CE Shop

Use Promo Code HW30 to Save 30%

The CE Shop Review

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Evernorth CEO Ashish Birla says blockchain is no longer a futuristic concept but a technology solving real financial problems today.

According to Birla, networks like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and XRP (CRYPTO: XRP) are increasingly becoming trusted rails for moving value, challenging incumbents such as PayPal.

Tokenization As The Next Big Shift

In a National Cryptocurrency Association podcast on June 17, Birla highlighted that blockchain’s core value lies in removing intermediaries and replacing them with decentralized trust.

Instead of relying on platforms such as PayPal (NASDAQ:PYPL) to move money, users can send stablecoins …

Full story available on Benzinga.com

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