Lawmakers in the Michigan House of Representatives have introduced a resolution urging the US government to back Israel’s right to statehood and take measures to prevent Hamas from eliminating the Jewish state on Tuesday.

House Resolution 372, introduced by Rep. Gina Johnsen and sponsored by Rep. Joseph Fox and Rep. Tim Kelly, is officially described as “A resolution to urge the United States government to take action to support Israel’s right to statehood and prevent Hamas and other groups from succeeding in their efforts to eliminate the only Jewish state, and to call on the Governor to review department policies to ensure they are not antisemitic.”

The resolution traces the historical context behind the measure, noting that “The Jewish people are native to the Land of Israel. However, throughout history and across the reign of multiple kingdoms, the Jewish people were persecuted and expelled from the Land of Israel, forced to live as minority diaspora communities in other lands.”

The text highlights that “This genocide provided new urgency to re-establish a Jewish homeland for the Jewish people, where they would not be a vulnerable minority, where they could freely practice their faith, and where something like the Holocaust could never happen again.”

Resolution labels threats to Israel’s existence as antisemitism

The measure further points out that once Israel was established, “other countries and terrorist entities continued to attack Israel, reject its right to exist, and call for its destruction,” while adding that the events of October 7 “demonstrate that Israel continues to face existential threats to this day.” 

The resolution emphasizes that “The State of Israel has a right to exist, and denying this is a form of antisemitism.”

The resolution stated that “When public officials use antisemitic rhetoric, it has harmful effects on the Jewish community and our broader society. The espousal or endorsement of such beliefs is anti democratic and contrary to the founding principles of our nation and the state of Michigan, and the use of such harmful language can be a precursor to further human rights abuses.”

The text formally requests that the state governor conduct a comprehensive review of department policies and administrative guidelines to ensure they remain entirely free from antisemitism.

Following its formal introduction on the House floor, the measure was referred directly to the House Committee on Government Operations for further review and committee consideration on Tuesday.

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The Beersheba District Court increased Guy Haddad’s sentence from five-and-a-half to seven-and-a-half years in prison for stealing five vehicles from Kibbutz Be’eri days after the October 7 massacre, ruling that the original punishment did not reflect the exceptional severity of the crimes.

In a decision handed down Wednesday and publicized Thursday, Judges Gilat Shalev, Itay Bresler-Gonen and Fani Gilat Cohen accepted the state’s appeal against the sentence, while rejecting Haddad’s appeal.

Haddad, the owner of a towing company, was convicted by the Beersheba Magistrate’s Court of conspiracy to commit a felony and five counts of vehicle theft following a full trial.

The court found that Haddad and another man used their work as volunteers at a logistics center established near Sde Yoav to help soldiers and residents of the Gaza border communities. That role gave them access to areas closed by the military after the Hamas attack.

On October 18 and 19, 2023, they entered Be’eri under the pretense of removing residents’ vehicles, loaded five vehicles onto tow trucks, and took them from the kibbutz. Some were later transferred to Palestinian Authority territory and could not be returned to their owners, according to the judgment. Fictitious sale documents were used for at least one vehicle.

NIS 25,000 fine and NIS 5,000 to each affected owner

The Magistrate’s Court sentenced Haddad to five-and-a-half years in prison, a suspended sentence and a NIS 25,000 fine. It also disqualified his driver’s license and ordered him to pay NIS 5,000 to each of the five vehicle owners.

Haddad argued on appeal that the evidence did not prove he had planned the thefts, that testimony against him was unreliable, and that he had received inadequate legal representation at trial. He also challenged the severity of his sentence.

The District Court rejected those arguments, saying that the trial court examined the evidence in detail and that there was no basis to overturn its factual findings or its assessment of the witnesses.

That evidence included testimony from the man who acted with Haddad, other volunteers, military and Shin Bet (Israel Security Agency) personnel, communications records and video footage. The judges said it established that Haddad had initiated and directed the thefts rather than merely carrying out towing work authorized by others.

The court also rejected Haddad’s claim that failures by his previous lawyer had undermined the trial. His former attorney told the appellate court that no additional witnesses whom the defense had wanted to call were left unheard, and the judges found no indication that different representation would have changed the result.

The prosecution argued that the original prison term was too lenient because Haddad had exploited both the access and the trust given to him as a volunteer.

The case was distinguished because it happened directly after Oct. 7

The District Court agreed, distinguishing the case from an ordinary vehicle theft, as the offenses were committed while Israel was still reeling from the October 7 attack, residents had been evacuated, and volunteers and security forces were working across the Gaza border area, the judges wrote.

They said the thefts harmed not only the vehicle owners but also the public trust on which emergency volunteer work depends. The court also pointed to the planning involved, the five vehicles taken over two days, and the fact that some could not be recovered.

The judges added two years to Haddad’s sentence, with credit for time already spent in custody. The suspended sentence, fine, license disqualification and compensation orders remain unchanged.

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Jonathan Karlinsky, an Israeli-Ukrainian hassid who was arrested while crossing the Ukraine-Romania border after Rosh Hashanah and drafted into the Ukrainian army, has been located at a detention facility near Odessa, the Federation of Jewish Communities of Ukraine (FJCU) announced on Thursday.

Karlinsky is currently awaiting transfer to a military base near the city of Kharkiv, where he is expected to serve as an army medic, several dozen kilometers away from the front lines where combat is actively taking place between Ukrainian and Russian forces.

After his location was ascertained, local rabbis, including those from Chabad, were able to assist in ensuring Karlinsky received kosher food, a prayer book, and the Arba Minim (Four Species) used on Sukkot.

Karlinsky also sent a video to his family in which he said he was in good condition and being treated fairly.

According to his family, “We tried to secure his release, but it wasn’t feasible. His medical expertise, combined with the Ukrainian army’s growing shortage of medical personnel, meant the army needed him immediately and could not let him go. Furthermore, he had previously served in the Ukrainian army – before becoming religious and immigrating to Israel – so, from their perspective, he belongs to them.”

Ukraine-Russia war is existential, FJCU chairman says

Rabbi Meir Stambler, Chairman of the FJCU, said that Ukraine was unable to provide exemptions to any potential soldiers due to the ongoing war with Russia.

“Ukraine is engaged in a very difficult war against an aggressive enemy that has been striking people, buildings, schools, hospitals, and more for nearly five years,” he said. “People are being killed every day, resulting in a severe shortage of manpower. Every Ukrainian citizen is needed here, so obtaining exemptions is impossible.”

Stambler drew a comparison to Israel’s wars with Hamas and Hezbollah, calling it an existential war.

At the same time, Stambler added, “Ukraine is doing everything it can, and we are deeply grateful for its consideration of the needs of all religions and every individual soldier. Karlinsky stated that, for religious reasons, he did not wish to carry a weapon; the authorities accommodated this request and assigned him to a medical role. Perhaps later on, we will be able to integrate him into the Ukrainian military rabbinate.”

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Iranian President Masoud Pezeshkian spoke at the UN General Assembly on Wednesday. It was a potentially momentous occasion. Nearby, according to reports, Iranian mediators headed by Foreign Minister Abbas Araghchi were in a meeting room and sending someone back and forth to speak to an American delegation.

Pezeshkian was aware that this was a chance to stand on the world stage and make Iran’s position clear. Channeling a well-known line from the series Game of Thrones, he said Iran would not “bend the knee.” It’s not clear whether he is a fan of the show and borrowed the phrase or whether it is a Persian saying.

Iran’s president knows that the US-Iran war is not popular in the United States. It is not popular in Iran either. He is aware that Parliament Speaker Mohammed Baqer Ghalibaf has supported talks with the US, but he also knows there are others in the Iranian leadership who want war.

While the United Nations is relatively friendly territory for Iran, Pezeshkian was also entering a lions’ den because – similar to the Irish commander Michael Collins entering into talks with the United Kingdom in 1921 – he risked becoming the fall guy back home.

Pezeshkian’s told the UN General Assembly US President Trump is ‘a bully’

“It must be understood by [US] President [Donald] Trump and those who seek to bully us that we are ready for dialogue and diplomacy and negotiations but without the language of force,” Pezeshkian said.

His speech was interpreted by commentators as demonstrating defiance.

“Masoud Pezeshkian turned the tables on Donald Trump, describing the US as the true bully and terrorist in the Middle East while insisting that Iran had always shown a commitment to the negotiating table,” The Guardian reported.

Trump had used bellicose language as he stood at the UN podium on Tuesday, threatening that Iran could be annihilated if it didn’t make a deal.

In response, Pezeshkian said: “The resistance of the Iranian people will only increase in the face of sanctions, increased pressure, increased bullying. It cannot be the case that everyone benefits from the Strait of Hormuz while we are denied access.”

“The US president described us as terrorists,” he said. “We have been the victims of terrorism.”

Pezeshkian held up a photo of former supreme leader Ali Khamenei, who was killed on February 28, along with photos of children killed during the war as the result of a strike on a primary school in Minab and a sports complex in Lamerd.

“Our innocent people have been the targets of cowardly attacks and aggressions imposed on our country,” he said. “And we defended ourselves with utmost strength.”

Defending Iran on the international stage while being attacked at home

Pezeshkian faced online pushback from Islamic Revolutionary Guard Corps (IRGC) members in Iran, while his supporters depicted him as holding up a shield and being shot in the back with arrows. He was considered to be defending Iran while being attacked at home.

Pezeshkian is not the first one to be put in this position. As noted, the Irish leader Collins was also attacked for defending his country and bringing home an agreement. He was subsequently killed in the Irish Civil War and accused of having let the British continue to control Northern Ireland.

Similarly, German officials were accused by Nazi forerunners of stabbing their country in the back in the 1920s.

In another analogy, Cherokee Treaty Party leaders were hunted down and murdered in 1839, four years after they agreed to a deal that caused the Cherokee to be forced westward by the US government.

At the UN General Assembly, Pezeshkian sought to be as defiant as possible to avoid being perceived by the IRGC generals as selling out Iran.

This post was originally published on here. 

Michigan Democratic Party senate candidate Abdul El-Sayed evaded an audience member’s direct request to unequivocally condemn the Iranian regime and the Islamic Revolutionary Guard Corps (IRGC) during a University of Michigan town hall event titled “Students vs. Billionaires” on Wednesday, at the Michigan Theater in Ann Arbor. 

The event was part of a statewide campus tour organized by More Perfect University to engage voters across Michigan.

During the speaking event an attendee wearing a Michigan Persians sweatshirt confronted El-Sayed regarding his past silence on the regime’s violent suppression of dissidents and protesters. The attendee specifically pointed to leaked audio from earlier in the year where El-Sayed allegedly stated he did not want to comment on the death of Iranian Supreme Leader Ayatollah Ali Khamenei because “there are a lot of people in Dearborn who are sad today.”

“My cousin was hunted in the streets of Iran by the IRGC because her hijab wasn’t on right,” the audience member stated at the event. “My uncle was sentenced to die, received 50 lashings by Ali Khamenei’s government.”

The questioner pressed El-Sayed to break his silence, asking if he regretted that silence and if he would denounce the IRGC. “I haven’t heard anything from you about the protesters, Abdul,” the audience member said. “That silence had a gaping hole in our community and I want to ask if you regret that silence, I want to ask if you renounce the people that held vigils, that supported this terrorist for all that he’s done. I wanted to ask if you stand unequivocally against the IRGC, against the Islamic Republic of Iran that has killed 50,000 protesters, Abdul, I haven’t heard anything from you about the protesters, Abdul, please.”

El-Sayed redirected the discussion to US military intervention in the Middle East

Responding to the inquiry during the town hall event, El-Sayed avoided condemning the IRGC directly and instead shifted the discussion toward foreign policy and military intervention, telling the crowd that “for too long and too often, when we think about our role in the world, we have turned ourselves into the world’s policeman.”

El-Sayed addressed the risks of foreign entanglements and regime change initiatives rather than addressing the audience member’s demand to oppose the Iranian military branch. “One can disagree with the governance of a foreign country, one can stand in solidarity with freedom and democracy movements, but my worry is one when one decides that we are going to go in and take out the leadership of a foreign government,” he said.

While stating that he stands with freedom and democracy movements, El-Sayed argued that foreign intervention often serves corporate interests regarding natural resources rather than supporting democratic outcomes. “I will always stand for and with democratic movements, always,” El-Sayed said. “But I also don’t believe that we were in the right to go to war to topple the government of Iran. It was not our responsibility to do it.”

As El-Sayed continued explaining his position on foreign leadership and military action, the audience member interrupted from the floor to point out that the candidate still had not directly answered the question regarding the IRGC, shouting, “You still haven’t said it though, we’re dying, the IRGC, do you stand with us?”

In response, El-Sayed reiterated his stance against foreign regime change efforts, telling the crowd that “the US has no, we should not be in the business of regime change,” while adding that “once you start putting our resources toward regime change in foreign countries, more often than not the regimes that we seek to change are the ones in which there is a natural resource interest and it becomes a ploy for the interest of our corporations and that’s what I worry about.”

This post was originally published on here. 

US Vice President JD Vance was allegedly the anonymous senior administration official behind a Politico report that the White House later cited as an example to justify stripping the outlet of its press access, media newsletter Status reported Wednesday.

The identification adds a new element to the dispute over President Donald Trump’s decision to ban CNN, MS NOW and Politico from the White House. The administration accused the outlets of publishing false or misleading reporting and, in Politico’s case, pointed to six articles that it said had threatened national security or spread falsehoods.

One of those articles, published in June, quoted an unnamed “senior administration official” who assessed the likelihood of reaching a preliminary agreement with Iran at between 80% and 85%. According to Status, the official was Vance, who had spoken to reporters during a background briefing authorized by the White House. Status was not a participant in the call and therefore was not bound by the briefing’s anonymity agreement, the publication said. The White House declined to comment on Status’s identification of Vance.

The Washington Post separately established that the remarks did not originate from an unauthorized leak. The Post reviewed a White House invitation to the briefing and a recording of the call, reporting that a White House aide instructed participating journalists that the discussion was “on background, attributable to a senior administration official.”

The Post did not independently identify the official as Vance. It updated its report after Status published its account, attributing the identification of the vice president to the media newsletter.

Vance reportedly behind White House press pool ban on CNN, MS NOW, Politico

The distinction is significant to the sourcing dispute because Politico’s anonymity was imposed as a condition of the White House-organized briefing rather than independently granted by the outlet to a source who approached it privately. Other news organizations, including the Associated Press, Bloomberg, and CNBC, also reported comments from the same call while identifying the speaker only as a senior administration official, according to the Post.

The White House’s letter to Politico was filed in federal court as part of the administration’s defense of its decision to revoke the outlet’s access. The letter accused Politico of failing to meet professional standards and cited its use of anonymous sources, publication of alleged falsehoods involving national security, and publication of sensitive or classified information. The June Iran report appeared on a six-item list of examples.

Trump announced the ban on September 18, accusing CNN, MS NOW and Politico of repeatedly reporting what he called “fake news.” Reporters from the affected organizations were subsequently denied entry to the White House grounds and had their credentials deactivated.

CNN, MS NOW, and Politico then filed a federal lawsuit challenging the restrictions, arguing that the administration had violated their First Amendment rights and deprived them of due process.

The administration maintained in court that access to the White House is a privilege rather than an entitlement and argued that the president has authority to suspend media organizations’ access. Vance separately defended the administration’s action earlier in the week, saying the outlets remained free to report on the White House but were not entitled to what he described as special access.

The legal dispute shifted again on Thursday, when US District Judge Timothy Kelly ordered the administration to immediately restore the three organizations’ White House press passes and temporarily blocked enforcement of the ban for 14 days. Kelly said the record did not support the administration’s argument that allowing the outlets back into the White House would endanger national security.

The ruling means CNN, MS NOW and Politico are set to regain White House access while their lawsuit proceeds, even as the circumstances surrounding the Politico article cited by the administration have raised a separate question over the White House’s use of background briefings and its subsequent criticism of anonymous sourcing.

This post was originally published on here. 

Good morning. Ian Borden, McDonald’s EVP and global CFO, is betting that the company’s next phase of profitable growth will come not just from opening more restaurants, but from making its existing network more productive.

McDonald’s unveiled its updated NEXT growth strategy on Wednesday at its investor day, committing about $8.5 billion in support for franchisees through 2036. That includes roughly $5 billion through 2030, primarily through rent relief and capital support.

The company also expects to spend about $3 billion a year on baseline capital expenditures from 2027 through 2030, based on current foreign exchange rates, plus $1.5 billion to $2 billion in cumulative capital partnering support to accelerate the rollout. The capital partnering support is part of the broader NEXT investment framework.

“It’s a value creation strategy, designed to generate attractive returns for franchisees and shareholders,” Borden said during his investor day presentation. It aims to strengthen restaurant economics and create the capacity to reinvest for long-term growth. Borden, who has been global CFO since 2022, has spent more than 30 years with McDonald’s, including extensive experience leading markets and global functions.

The strategy pairs continued expansion with productivity investments at existing restaurants. Unit growth is expected to contribute nearly 2.5% to systemwide sales growth in 2027, moderating to about 2% by 2030—meaning a growing share of McDonald’s sales gains will come from existing restaurants becoming more productive, not just from opening new ones.

Technology is another part of the strategy. McDonald’s plans to deploy ArchIQ, a generative AI-enabled operating system, at scale to help improve restaurant operations, including the drive-thru.

The company expects its Restaurant NEXT investments to generate about 250 basis points of gross restaurant-level efficiency gains, translating to roughly $100,000 in additional annual cash flow for the average U.S. restaurant. McDonald’s estimates a four-year payback period for franchisees, after partnering support.

By 2030, the company is targeting operating margins in the low-to-mid 50% range, free-cash-flow conversion in the mid-to-high 80% range and G&A costs of about 1.9% of systemwide sales.

The scale of the investment also creates execution risk. Investors appeared cautious: McDonald’s shares fell as much as 6.5% intraday Wednesday, amid concerns about the timing of the benefits and the execution of the strategy. CEO Chris Kempczinski attributed some of that caution to persistent inflation. “We expect industry traffic growth in our wholly owned markets will be flat while inflation remains elevated,” he said.

The strategy also calls for McDonald’s to gain 1.5 percentage points of market share in both chicken and beverages by 2030 while maintaining its leadership in beef.

McDonald’s (No. 170 on the Fortune 500) has more than 46,000 restaurants globally. Approximately 95% are owned and operated by independent local business owners, and the company says its restaurants serve more than 70 million customers daily.

The real test will be whether McDonald’s can turn billions of dollars in restaurant investments into the productivity gains and cash flow it has promised.

Sheryl Estrada
Sheryl.Estrada@fortune.com

This story was originally featured on Fortune.com

This post was originally published here. 

A federal judge temporarily blocked President Donald Trump’s ban of three news outlets from the White House, ordering early Thursday that CNN, MS NOW and Politico must have their access restored. Reporters from all three outlets, however, said they remained blocked a few hours after the ruling.

The back-and-forth is the latest in an extraordinary showdown between Trump and media outlets whose coverage he dislikes.

Trump first announced he was banning the outlets Friday, assailing what he called “fake news,” and only later arguing that their reporting was a risk to national security. The outlets argued in a joint lawsuit that the ban was a blatant violation of the First Amendment because it singled them out for the content of their coverage.

In his late-night ruling, U.S. District Judge Timothy Kelly ordered the White House to “immediately return, reinstate, and restore” the three outlets’ access. He said they had met the legal thresholds to obtain a temporary restraining order, in effect for 14 days, and were likely to succeed in showing that their press passes were revoked without due process.

“This is a high bar, but Plaintiffs have met it,” he wrote.

Kelly — whom Trump nominated in 2017 and who ordered a CNN journalist’s access restored in a similar case in 2018 — said the government must have clear standards for conduct that would lead to revoking a press pass. He called the standard of objectionable reporting outlined in letters that the White House sent the outlets “so vague it hardly does the trick.”

The judge also made clear he did not buy the administration’s argument that the news outlets’ reporting endangered national security — and noted that Trump himself had not used that argument in the beginning, focusing solely on what he called negative coverage.

“Nothing in the record … suggests that the revocation of Plaintiffs’ hard passes was motivated by national security concerns,” he wrote.

The ruling came after Kelly heard arguments in an emergency hearing Wednesday. Temporary restraining orders are typically designed to preserve the status quo pending a closer review of the case by the court.

“This is a strong ruling vindicating freedom of the press, due process and the rule of law,” Theodore Boutrous Jr., attorney for the outlets, said in an emailed statement. “We greatly appreciate the court’s swift action.”

But a few hours after the ruling, reporters from those outlets said they were not allowed to enter the White House.

The White House did not respond to an email from The Associated Press requesting comment on the order.

Attorneys debated access to the White House and any risk to national security

Boutrous argued in the hearing that there was an urgent need for renewed access, saying that the ban caused irreparable harm to the outlets at a time of momentous news events. “We’re at war. We have world leaders coming to Washington.”

Justice Department attorney Michael Velchik, in his argument, reiterated the administration’s point that the president has the right to choose who gets into the White House.

“Access to the White House is a privilege, not a right,” Velchik said.

In arguing that Trump was not engaging in viewpoint discrimination — the government singling out specific media outlets for the content of what they say or publish — Velchik said the president had criticized other news organizations, but not banned them. He noted, for example, that Trump had called ABC “the worst.”

He added: “The president should be able to take immediate action to protect national security.”

In response, Boutrous said, “Suddenly it’s a national security case,” arguing that the president brought up that point only after the lawsuit was filed.

Trump “keeps proving our point,” Boutrous said, describing how the president has consistently used negative coverage of him as justification for the ban.

Kelly seemed to agree, writing of the national security claim: “Certainly, that is not what President Trump said when he announced that he was ‘banning’ Plaintiffs from the White House — instead, he focused on the alleged lack of truthfulness and negativity of Plaintiffs’ reporting.”

The Trump administration outlined ‘reporting incidents’ of each news outlet

In a filing Tuesday, administration lawyers detailed letters sent to each of the three news outlets that identified “a non-exhaustive list of reporting incidents, including those that have threatened national security and spread falsehoods.”

Among the incidents cited were: CNN reporting on “‘top-secret’ construction details related to the East Wing bunker”; MS NOW reporting “on an alleged leak investigation”; and Politico publishing “a document detailing funding for the White House ballroom containing intricate descriptions of how the Secret Service would invest in security improvements.”

Politico’s letter also included an incident in June of a report in which a “senior administration official … granted anonymity” predicted whether a preliminary deal would end the conflict with Iran.

That item appeared to reference a background briefing set up by the White House, where an official briefed reporters on condition of anonymity under ground rules set by the administration itself. Several other outlets also reported the official’s remarks.

Major networks refrained from covering Trump for the media pool

The ban prompted other media outlets to take action in solidarity. The U.S. network press pool — consisting of the five major networks, including CNN — has suspended coverage of Trump pool events pending further notice.

The ruling did not address that rotating pool.

After the hearing Wednesday, the networks continued their ban on Trump coverage. At Joint Base Andrews, where the president formally welcomed Chinese President Xi Jinping, journalists from Fox News, CBS and NBC were present but not shooting video.

Other television outlets whose crews were present, according to signs on their tripods and cameras, were NewsNation, Newsmax, Right Side Broadcasting Network, One America News and LindellTV.

Ahead of Wednesday’s hearing, an amicus brief was filed by other news groups, including The AP, urging the court to immediately restore the three outlets’ White House access.

___

Golden reported from Seattle and Kellman from London.

This story was originally featured on Fortune.com

This post was originally published here. 

U.S. stocks opened lower Thursday as renewed Middle East uncertainty pushed oil prices and Treasury yields higher, reviving inflation concerns and putting particular pressure on technology shares. Investors were also cautious ahead of the closely watched meeting between President Donald Trump and Chinese President Xi Jinping.

At the opening bell, the Dow Jones Industrial Average fell 95.8 points, or 0.19%, to 51,415.75. The S&P 500 dropped 39.0 points, or 0.51%, to 7,666.99, while the Nasdaq Composite fell 201.5 points, or 0.75%, to 26,734.51. These are Reuters’ verified opening levels; intraday prices continued changing after the bell.

The Nasdaq’s larger decline showed how quickly higher yields can pressure technology shares. When Treasury yields rise, the future earnings of fast-growing companies become less valuable in today’s dollars, making highly valued technology stocks particularly sensitive to changes in interest-rate expectations.

Oil and Treasury Yields Return as the Market’s Pressure Points

Energy prices were again one of Wall Street’s biggest concerns Thursday.

Reuters reported that simmering Middle East tensions were lifting both oil prices and Treasury yields, reversing some of the relief markets received earlier in the week when crude fell below $100.

The combination is particularly important for businesses and households. Higher crude can feed directly into gasoline, diesel, aviation and freight costs, while higher Treasury yields can push up mortgages, corporate financing and other borrowing costs.

That also leaves the Federal Reserve in a difficult position. Cleveland Fed President Beth Hammack warned Thursday that inflation risks remain tilted to the upside, reinforcing investor sensitivity to energy prices and other inflation indicators.

Economic Data: U.S. Current-Account Deficit Widens

The main scheduled U.S. economic release Thursday morning came from the Commerce Department’s Bureau of Economic Analysis.

The U.S. current-account deficit widened by $33.4 billion, or 15.7%, to $246.0 billion in the second quarter, up from a revised $212.6 billion in the first quarter. The deficit represented 3.0% of U.S. GDP, compared with 2.7% during the previous quarter.

The deterioration primarily reflected a larger goods deficit, although that was partly offset by smaller deficits in primary income and secondary income. Exports of goods and services and income received from overseas increased by $58.8 billion to $1.44 trillion.

The $246 billion deficit was nevertheless smaller than the roughly $255 billion economists surveyed by Reuters had expected.

Importantly, there was no new GDP estimate Thursday morning. BEA’s next GDP release — the third estimate for second-quarter growth — is scheduled for September 30. The government’s current estimate shows the U.S. economy expanded at a 1.5% annualized rate during the second quarter.

Technology Stocks Under Pressure

Technology shares were among the weakest parts of the market as higher Treasury yields challenged the powerful AI-driven rally that sent the Nasdaq to records earlier this week.

The Nasdaq’s 201-point opening decline was considerably larger in percentage terms than the Dow’s, reflecting renewed pressure on growth stocks.

That comes after an extraordinary run in artificial-intelligence names. AMD crossed a $1 trillion market capitalization earlier this week after climbing nearly 10% in a single session, while Meta, Intel and other technology companies also posted sharp gains.

Thursday’s pullback therefore represents an important test of whether AI enthusiasm can continue overpowering the pressure from higher energy prices and borrowing costs.

Corporate News Adds to Stock-Specific Volatility

Individual companies were also moving sharply.

Oracle shares were under notable pressure Thursday morning, extending weakness in cloud and AI-infrastructure stocks, while Intel, AMD and Nvidia also traded lower as investors took profits following their recent surge.

TD SYNNEX also reported fiscal third-quarter results Thursday, giving investors another look at demand across the technology-distribution and enterprise-computing markets.

The broader issue for Wall Street is whether corporate earnings can continue supporting valuations if interest rates and energy costs remain elevated.

Trump-Xi Meeting Moves to Center Stage

Investors are also closely watching the meeting between Trump and Xi.

Reuters said caution ahead of the summit was one of the factors weighing on stocks Thursday morning. Trade policy and the economic relationship between the world’s two largest economies remain major variables for businesses, particularly companies exposed to technology, semiconductors, manufacturing and global supply chains.

Markets will be watching for concrete announcements rather than simply diplomatic language. Any developments involving tariffs, technology restrictions or trade arrangements could quickly move individual sectors.

What to Watch

For the remainder of Thursday’s session, oil and Treasury yields remain the clearest market gauges. If crude continues climbing and bond yields move higher, pressure could intensify on technology, housing and other interest-rate-sensitive sectors. A reversal in either could help stocks recover.

The Trump-Xi meeting is the day’s biggest potential headline catalyst. Investors will be looking for confirmed agreements or policy changes involving trade and technology while treating preliminary reports cautiously until details are formally announced.

Federal Reserve commentary also matters after Hammack’s warning about upside inflation risks. With energy costs still volatile, markets remain highly sensitive to any indication that policymakers see another rate increase as necessary.

Finally, watch the Nasdaq and AI stocks. Technology has been one of the market’s strongest engines this year, but Thursday’s opening showed that rising yields can still interrupt that momentum quickly.

For consumers and businesses, the central issue remains the same: energy prices and interest rates are moving together again. If that persists, it could keep pressure on gasoline, transportation and financing costs even as the broader economy continues expanding.

JBizNews Desk | Trenton, N.J.
© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

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The full A24 trailer about the new Elizabeth Holmes documentary dropped yesterday, as did a single glassy tear from the Theranos founder’s eye. “It took me a really long time to be okay with.… letting someone see me cry,” she says.

And speaking of Holmes, she be be leaving prison early.

Continue to STAT+ to read the full story…

This post was originally published here. 

A major public pension fund and another shareholder are taking The New York Times Company to court, seeking internal records they say could reveal whether its board adequately oversees the newspaper’s editorial standards amid allegations of anti-Israel bias in its coverage.

The State Board of Administration of Florida, which oversees the Florida Retirement System Trust Fund, and the National Center for Public Policy Research filed the petition Wednesday in New York state court in Manhattan.

Both organizations are shareholders of The New York Times Company.

The proceeding does not ask a judge to rule that the Times’ reporting is biased, nor does it seek monetary damages.

Instead, the shareholders want access to corporate books and records to investigate whether the company’s board has adequately monitored compliance with journalistic standards and protected what the petitioners describe as a critical business asset: the Times’ reputation.

Why Shareholders Are Taking Action

Florida Attorney General James Uthmeier, who serves as a trustee of the State Board of Administration and is representing the fund, framed the dispute as a corporate-governance issue rather than an attempt to dictate individual news stories.

The Florida fund serves more than 1.2 million members and beneficiaries and owns approximately 161,375 shares of New York Times stock, according to reporting on the filing.

Uthmeier argues that the credibility of a news organization has direct financial value.

The shareholders contend that if readers come to perceive journalism as unreliable or biased, that could damage a media company’s reputation and ultimately affect subscriptions, advertising, growth and shareholder value.

The petitioners say they want to determine what systems exist at the board level for monitoring journalistic accuracy, corrections and compliance with editorial standards.

What Records They Want

The dispute began before Wednesday’s court filing.

The shareholders previously requested documents from the Times, but the company rejected the demand.

A later, narrowed request sought board-level governance records dating from 2020, including information about how editorial-standard issues reach directors or board committees, whether accuracy and corrections have appeared on board agendas, and documents showing the reporting structure involving the Times’ standards operation.

The shareholders are now asking a judge to compel the company to produce records.

Such proceedings can allow shareholders to investigate potential corporate wrongdoing or board oversight failures before deciding whether additional litigation is warranted.

Former Employee’s Allegations Cited

The petition also relies partly on allegations from an unnamed former Times employee.

According to the filing, the Jewish former employee worked on the newspaper’s video desk for nearly a decade and says she repeatedly raised concerns about antisemitism and what she perceived as anti-Israel bias within the newsroom.

She says she raised concerns at least 15 times between 2019 and her departure in March 2026, bringing them to managers, the Times’ standards operation and human resources.

According to the petition, she alleges that an HR representative at one point suggested that if the company’s values did not align with hers, she might seek employment elsewhere.

Those are allegations presented in the shareholder petition and have not been established as findings by the court.

Gaza Coverage Comes Under Scrutiny

The petitioners also point to examples of Times reporting about Israel and Gaza that were subsequently corrected or updated.

One involves a July 2025 front-page photograph of a severely malnourished Palestinian child in Gaza.

The Times subsequently updated its reporting to add that the child had pre-existing health conditions after obtaining additional information from his doctor.

The shareholders argue that episodes involving corrections and updates justify examining whether the company’s board has sufficient systems for overseeing editorial standards.

The petition itself goes further, alleging that a pattern of disputed reporting raises questions about whether standards are being applied consistently.

Those allegations remain contested.

The Times Pushes Back

The New York Times strongly rejects the shareholders’ characterization of the dispute.

“This lawsuit has no merit and was brought for an improper purpose,” Times spokesperson Charlie Stadtlander said.

The company argues that although the proceeding is framed as a request to inspect corporate records, it is actually an effort to place political or ideological pressure on an independent news organization.

The Times said it believes the allegations of bias are false and argues that the records demand threatens journalism protected by the First Amendment.

The company says it intends to defend against the proceeding vigorously.

Why This Case Is Different

Criticism of news organizations over their coverage of the Israel-Hamas war is not new.

What distinguishes this dispute is the mechanism being used.

The challenge is coming from shareholders exercising rights associated with their ownership of a publicly traded company.

Rather than asking a court to determine whether a particular article was fair, the petitioners are asking whether the Times’ corporate board has sufficient oversight systems to monitor standards that could affect the company’s reputation and financial value.

Uthmeier’s office says the proceeding seeks to enforce the Florida fund’s shareholder right to inspect the company’s books and records.

That distinction could become central to the case.

The shareholders characterize the dispute as a corporate-governance matter involving directors’ oversight responsibilities.

The Times characterizes it as an effort to use shareholder law to pressure editorial decision-making.

What Happens Next

A New York judge will have to determine whether the shareholders have established a legally sufficient purpose for inspecting the requested corporate records and what documents, if any, the company must produce.

That decision would not itself determine whether the Times’ Israel coverage was biased.

Instead, it would determine whether the shareholders are entitled to examine internal corporate records concerning the board’s oversight of editorial standards and related risks.

If access is granted, the documents could help the shareholders decide whether they believe additional corporate action or litigation is warranted.

For now, the case presents an unusual collision between shareholder oversight, corporate governance and press independence — with both sides arguing that fundamental rights and responsibilities are at stake.

JBizNews Desk | New York

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

Hi, it’s Amanda Gerut, pinch hitting for Allie. In late 2014, Ellen Polcari was nannying for a VC’s two young children. A decade later, she had branded herself the firm’s “controller,” and, according to the SEC, the person who allegedly moved about $1.28 million of investor money into her own accounts. The money went to online gambling, shopping, and restaurant meals, regulators say.

That complaint, filed in federal court in New Jersey on Sept. 18, states that the funds raised about $28.7 million from at least 85 mostly high-net-worth investors and family offices between April 2023 and March 2025. The venture firms aren’t named; the SEC states that the two firms are based in Montana. 

It’s an extreme case if the allegations hold up. But the mechanics aren’t exotic. A small firm, a founder focused on deals, and one trusted person running the back end. For anyone who writes checks and works with emerging managers, it’s a question worth verifying every time: Who can move money, and who is checking to make sure it’s going to the right place?

Here’s what happened, according to the SEC. A year into her nannying gig, the fund manager brought Polcari into the firm as an “executive assistant.” Over the next decade, her role grew to cover everything involving the bowels of fund administration. She sent offering documents and wire instructions, tracked down subscription agreements, and wired capital to portfolio companies. 

By April 2023, she allegedly became the sole signatory on a new fund’s bank account and described herself on the application as a “Partner with Control of the Entity” and an 80% owner of the fund, unbeknownst to the owner, the SEC says. The SEC claims neither the VC owner nor its co-owner had access to or signatory authority on the fund’s bank account.

According to regulators, Polcari listed the fund’s mailing address as her own home. In 2024, the firm’s Form ADV listed her as “Controller” and a “Regulatory Contact Person.” When the unnamed owner opened a second VC firm in the summer of 2024, Polcari filed the necessary documents, opened more bank accounts, and again named herself as the beneficial owner for some of them. She and the VC owner were the only two people who worked there, and by early 2025, the SEC claims Polcari’s email address was the only contact on the firm’s website. 

I made my best efforts to reach Polcari and was unsuccessful. I also reached out to the firm that listed her in its Form ADV in 2024 and didn’t get a response. The firm’s website says it has invested in 90-plus companies over 16 years and lists investments in Ripple, Dollar Shave Club, Life360, and Liquid Death. 

The SEC claims Polcari helped herself to the money almost as soon as it was wired in. On Oct. 1, 2024, one of the funds got its first $250,000 investment. Within a day, Polcari allegedly moved $28,000 to her own bank account. Two days later, the same fund got $800,000 in investments, and during the next three weeks, according to regulators, Polcari allegedly moved $97,500 of it to her own accounts. That fund raised a total of $1.34 million and the SEC says about $768,000 allegedly went to Polcari and her bills, including about $131,000 in online-gambling expenses paid straight from the fund’s account. 

By December, that fund had insufficient capital to make its designated portfolio-company investment, and the SEC alleges Polcari moved nearly $1 million out of four other funds to plug the gap. She also allegedly forged the owner’s Docusign e-signature to transfer portfolio company shares to her business, Forks Up LLC, and sold most of the stock for $56,000.

In late February 2025, the VC owner and Polcari learned the SEC was conducting a probe of the firm and the jig, as they say, was up. Three weeks later, Polcari’s lawyer informed the owner she had liberated a “significant amount” from the firms and the funds, the complaint states. She was fired, and on March 30, the SEC says Polcari called the owner and admitted to some of it. 

The allegations are brazen if the SEC’s account holds up. Giving yourself rights and then allegedly raiding the funds repeatedly is an outrageous act. But, trusting one person to route everything? That I don’t get. The trust-but-verify lesson learned the hard way.

See you tomorrow,

Amanda
amanda.gerut@fortune.com

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This story was originally featured on Fortune.com

This post was originally published here. 

In the end, it was all kisses and laughter as U.S. President Donald Trump hailed his “fantastic” relationship with Denmark and Greenland after signing a new security deal that America’s European allies hope will close one of the most dangerous chapters in transatlantic relations.

Trump’s territorial ambitions over Greenland almost broke the NATO military alliance and shattered trust with one of America’s oldest and closest partners. The new defense agreement puts an end to the standoff. But was it worth the cost?

While the new defense agreement is a bit broader, the United States already had extensive military access under an existing 1951 deal and all the gains laid out in the agreement signed on the sidelines of the U.N. General Assembly on Tuesday could, ostensibly, have been achieved by asking nicely a year ago. The trans-Atlantic distrust created since the end of 2024 seems a very high price to pay for what may ultimately be a fairly incremental gain.

Interestingly, one place may emerge from this standoff as the real winner: Greenland itself.

The promised investments and contracts may never fully materialize, but the episode marks a major step forward in its push for greater autonomy and a more influential seat at the table. Greenland is no longer merely the subject of foreign policy decided by its former colonial rulers. Increasingly, it is helping to shape it.

There’s been progress toward self-determination

“A notable change is Greenland itself at the table today, signing this agreement,” said Greenlandic Prime Minister Jens-Frederik Nielsen speaking to a room cram packed with journalists and officials at the UN to witness the signing of the deal.

That’s an understatement. The world’s largest island, home to about 56,000 mostly Inuit people, was still considered a colony until the early 1950s. Progress towards greater self-determination has been slow and it wasn’t until 2009 that Greenland became a self-governing country within the Kingdom of Denmark.

Even then, while the Self-Government Act recognized Greenland’s right to independence when requested by local voters in the future, Denmark retained control of defense and foreign affairs.

“I cannot stress it enough: This is the first time that we are venturing into a binding agreement as a country,” Naaja Nathanielsen, one of Greenland’s two lawmakers in the Danish parliament and a former government minister in Nuuk, told The Associated Press. “That is a huge step forward in our quest for more self-autonomy.”

Denmark and Greenland confront their own troubled past

Like most former colonial powers that discover history keeps receipts, Denmark’s ties with Greenland are complicated. Greenland’s economy is heavily dependent on Denmark, families and students often live between the two territories and the cultural linguistic ties are strong. Yet underwriting modern relations are centuries of Danish policies that dehumanized Greenlanders and their families.

They included forced contraception, the removal of Inuit children for reeducation by Danish foster families, and controversial parental-competency tests that led to children being separated from their parents.

“For many, many years you believed that you were a good colonizer,” Múte Bourup Egede, then Greenland’s prime minister and now its foreign minister, reminded Danish journalists early last year, shortly after a newly elected Trump made his first military threat against the island. “But time has also caught up with us, and … cruel things have come to light.”

The abuses are not distant history; many victims remain alive. Hundreds of Inuit women have claimed compensation from Denmark, alleging that health authorities violated their rights by fitting them with intrauterine devices — often when they were teenagers and without their informed consent. Danish authorities estimate that as many as 4,500 women and girls received IUDs between the 1960s and mid-1970s.

While the first official apology for the historic mistreatment had long been coming it was finally delivered in the summer of 2025.

The standoff with the United States “has been applying pressure and focused some of the Danish attention” on reconciliation with Greenland said Ulrik Pram Gad, a senior researcher at the Danish Institute for International Studies, but “perhaps, some Greenlanders feel that it’s not as credible as it could have been without Trump.”

Trump’s involvement changed the equation

While Denmark moved to address past grievances, anger with Trump’s tactics also helped shore up support for its sovereignty and take the edge off calls by some in Greenland for quick moves to independence.

At the height of the crisis over Trump’s ambitions in January, Nielsen said that “if we have to choose between the United States and Denmark here and now, we choose Denmark. We choose NATO.”

For Denmark, the main victory is no doubt getting the US president off its back and succeeding in framing the crisis as a European security problem.

Danish and Greenlandic diplomats “have been working very hard to have European allies be part of this,” Pram Gad said. “The result is an attempt to patch together the NATO alliance.”

And while Denmark has accepted some limitations to its sovereignty, investments by adversary countries such as Russia had long been off the table.

“The benefit of keeping the transatlantic alliance, or patching it together, or at least not allowing Greenland to be the occasion for Trump to blow it up, I think that counts heavily on both the Danish and the Greenlandic cost-benefit analysis here,” he said.

After Tuesday’s signing ceremony, relief was palpable. But while the Danish and Greenland delegations celebrated with a cold beer on a rooftop bar in Manhattan, the Greenland crisis has scarred a once-undefiable bond. It leaves leaders in Copenhagen, Nuuk and other European capitals now assessing the reliability of the United States — and whether a signed agreement can repair trust once it has been broken.

This story was originally featured on Fortune.com

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In the latest example of the ongoing convergence between the worlds of crypto and traditional assets, investors can now purchase tokenized versions of popular stocks and store them off-line in a secure physical device. This new arrangement—which harkens back in a sense to the days when people held paper stock certificates in a safe—comes via a partnership announced on Thursday between the hardware wallet maker Ledger and Payward, the parent company of longtime crypto exchange Kraken.

For those unfamiliar with crypto hardware wallets, they are considered highly secure because they allow users to store digital assets on a physical device that is not connected to the internet. This method of holding assets, known as “cold storage,” has long been popular with hardcore Bitcoin devotees who are reluctant to entrust their assets to a third party or store them online where hackers can target them.

Until now, there has not been a “cold storage” option for holding stocks—unless you count holding paper certificates, which remains an option but is now so rare that it requires undertaking a complicated request process and paying steep fees. This raises the question, though, of how many investors will feel a need to hold their stocks on a physical device, especially in an era when online brokerages handle trillions of dollars of transactions every day with few incidents.

According to Sebastien Badault, a Ledger executive who is leading the Payward tie-up, the company believes that the newfound popularity of tokenized stocks—which took off last year and just received an “innovation exemption” from the SEC—will make cold storage appealing to two sets of investors.

The first are some of Ledger’s approximately 8 million customers, both retail and institutional, who prefer self-custody for their assets rather than relying on third parties. The other group of potential customers, says Badault, are more traditional stock buyers who may be growing uneasy with the rising threat of hackers in the age of AI and quantum computing.

As a practical matter, Badault said the integration between Payward and Ledger runs both ways. This means that a customer who uses Payward’s stock-buying platform, xStocks, can require a signature on their Ledger device as a final security measure before completing a transaction. At the same time, Ledger devices—which offer a trading platform in addition to simple custody—will now include an xStocks integration.

For now, the Ledger devices, including its flagship Stax model developed by former Apple designer Tony Fadell, will only integrate with Payward’s version of tokenized stocks. Badault noted, however, that the company is in talks with other companies—including Coinbase, Binance and Robinhood—that have rolled out tokenized stocks of their own in recent months.

All of this comes at a time when tokenized stocks, which have primarily gained traction overseas, represent just a tiny portion of the broader stock market. Meanwhile, a recent security incident involving a little-known hardware wallet-maker has spurred a debate over whether self-custody is a viable option even for crypto devotees.

Badault, though, makes the case that Ledger’s user-friendly design and the broader push towards tokenization means that, in coming years, more individuals and institutions will come to embrace storing assets of all sorts on secure off-line devices.

In a statement, Payward’s co-CEO David Ripley, said “By partnering with Ledger, we’re building where the industry is heading: a future where secure self-custody and global financial infrastructure work hand in hand to provide powerful and seamless trading experiences.”

This story was originally featured on Fortune.com

This post was originally published here. 

Good morning health tech readers!

It’s gonna be a great day. 

Reach me: mario.aguilar@statnews.com

The Medicare RPM backlash

Medicare’s plan to rein in spending on remote patient monitoring has prompted surprising pushback from insurers. Under these billing codes, Medicare pays health care providers to track and manage the health of their patients using connected devices like blood pressure cuffs.

As I report in a new story, UnitedHealth Group, CVS Health, and Kaiser Permanente all wrote letters opposing a medicare proposal that such remote-monitoring services be rendered directly by employees of the provider billing for it. Currently much of RPM is delivered by vendors working under the supervision of the billing providers.

Continue to STAT+ to read the full story…

This post was originally published here. 

Rise and shine, another busy day is on the way. We can tell because the official mascots got an early start chasing down cats, squirrels, and other creatures darting about the Pharmalot campus. And then there is the noisy parade of vehicles passing nearby on their way to who knows what? As for us, we are firing up the trusty coffee kettle to brew another cup of stimulation. Our choice today is witch’s potion. Sounds interesting, yes? If curious, please feel free to join us. Meanwhile, the time has come to get cracking. So here is the latest laundry list of interesting items for you to peruse. We hope you have a smashing day and, of course, do keep in touch. Best of luck, everyone. …

Trump administration officials last week touted the success of their drug pricing policy, saying every U.S. state had agreed to participate in a federal initiative designed to provide lower prices to state Medicaid programs. But STAT explains that officials in several states say they are still undecided on whether to participate — even if they did technically apply — and others are still trying to determine whether the federal initiative, called the GENEROUS model, offers a better deal than what they get through existing rebates from drugmakers. The pricing details on what states would get through GENEROUS, if they do participate, are not publicly available.

Heidi Overton, the Trump administration pick to lead the U.S. Food and Drug Administration, will appear before a Senate committee this morning at 10:30 a.m. in a highly anticipated hearing that promises to shed some light on the nominee, STAT says. During her opening statement, Overton plans to emphasize the need for speed and efficiency at the FDA to compete with China’s accelerating biotechnology industry. If confirmed, Overton, at 37, will be the youngest FDA commissioner ever. You can read more about her rise from being a young doctor in rural New Mexico to FDA commish nominee here.

Continue to STAT+ to read the full story…

This post was originally published here. 

India’s largest stock exchange finally became a publicly traded company Thursday, ending a roughly decade-long wait with a modest gain in its first minutes of trading.

Shares of the National Stock Exchange of India opened at 1,809.10 rupees on rival BSE, 1.35% above their IPO price of 1,785 rupees. The stock then climbed as high as 1,844 rupees, putting it about 3.3% above the offering price in early trading.

The debut follows a ₹22,561.57 crore, or roughly $2.5 billion, initial public offering that ranks as the second-largest in Indian history.

Only Hyundai Motor India’s 2024 offering was larger.

For investors who received shares in the IPO, the opening produced a small immediate profit rather than the explosive first-day jump sometimes associated with heavily anticipated Indian listings.

What Investors Made at the Open

NSE priced its IPO at the top of its range of ₹1,700 to ₹1,785 per share.

Retail investors had to purchase a minimum lot of eight shares, requiring an investment of ₹14,280 at the final offering price.

At Thursday’s opening price, that eight-share investment was worth ₹14,472.80 — an increase of ₹192.80.

At the early high of ₹1,844, the same eight shares were worth ₹14,752, producing a paper gain of ₹472.

Those are modest returns compared with some blockbuster IPO debuts, but they still meant investors who received shares entered the public market in positive territory.

NSE Isn’t Keeping the IPO Money

One important detail separates this offering from IPOs in which companies sell new shares to finance expansion.

NSE itself isn’t receiving the ₹22,561.57 crore raised through the transaction.

The IPO consisted entirely of an offer for sale, meaning existing shareholders sold their shares to new investors rather than NSE issuing new stock. The exchange’s total number of shares therefore did not increase as a result of the offering.

Among the selling shareholders were major financial institutions and investors including State Bank of India, Canada Pension Plan Investment Board and several Indian insurance companies.

For NSE, the significance is not a new pile of cash for expansion. It is becoming a publicly traded company with shares that investors can buy and sell on the open market.

Investors Wanted More Shares Than Were Available

Demand exceeded supply.

The IPO was subscribed approximately 5.7 times, with investors bidding for about 505.8 million shares against roughly 88.6 million shares available during the public bidding process.

Institutional investors were particularly aggressive. Qualified institutional buyers subscribed for more than 12 times the shares reserved for them.

Before public bidding, NSE also allocated roughly 37.8 million shares to 189 anchor investors at ₹1,785 each, raising approximately ₹6,746 crore from that group.

Those investors included major domestic and international institutions.

Why NSE Is Such a Big Business

The excitement surrounding the IPO reflects NSE’s enormous position inside India’s financial system.

The exchange operates markets for stocks, equity derivatives, currencies, mutual funds, commodities and debt. Its broader ecosystem includes clearing, market data, indices and international trading services.

As of fiscal 2026, NSE had approximately 261 million registered investor accounts, more than 132 million unique registered investors and roughly 3,005 listed entities.

Its dominance is particularly striking in stock trading.

Reuters reported ahead of the listing that NSE controlled approximately 93% of India’s cash-equities market and about 75% of the options market.

That matters because exchanges can generate revenue from multiple parts of the same financial ecosystem — including transactions, clearing, data and index-related businesses.

A Decade-Long Wait Ends

Thursday’s listing also closes one of the longest-running IPO stories in India’s financial sector.

NSE’s effort to become publicly traded stretched for roughly a decade and encountered regulatory and legal complications along the way.

Its rival BSE reached the public markets much earlier, listing in 2017.

NSE’s eventual IPO was dramatically larger.

At approximately ₹22,562 crore, the offering became India’s second-largest IPO ever and attracted about ₹90,000 crore worth of bids from investors.

The listing also creates an unusual situation: India’s dominant stock exchange is trading on one of its principal competitors.

NSE shares made their debut on BSE, rather than NSE’s own trading platform.

Why This Matters Beyond India

The IPO gives investors direct exposure to one of the institutions at the center of India’s rapidly expanding capital markets.

India has experienced enormous growth in individual stock-market participation, while domestic institutions and foreign investors continue pouring money into its markets.

NSE sits in the middle of much of that activity.

But its dominance does not eliminate risk.

Regulatory changes affecting derivatives trading are particularly important because options have been a major source of NSE’s transaction revenue. Recent tightening of India’s derivatives rules has already raised questions about future trading volumes and earnings growth.

That makes Thursday’s opening price only the beginning of the story.

After waiting roughly a decade to reach the public market, NSE will now face the same test as every other listed company: convincing shareholders that its future earnings justify what they are paying for the stock.

Its first day started with a gain.

Whether India’s extraordinary expansion in stock-market participation can translate into sustained returns for NSE’s new shareholders will be determined well beyond opening day.

JBizNews Desk | Mumbai

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

Gen Z is not supposed to be the religious generation. Pollsters have spent two decades describing this cohort as the most secular in American history, the one that would finally break the chain of belief passed down from their grandparents. New Harris Poll data shared with this publication suggests otherwise: 33% of Gen Z identifies as religious, compared with 18% of Boomers, 22% of Gen X and 19% of Millennials—making Gen Z the most religious-identifying generation in the survey. Their “neither religious nor spiritual” rate, 19%, is the lowest of any generation measured, lower than Boomers at 23%.

At the same time, Gen Z has become the organizing force behind a nationwide revolt against AI data centers, a movement that has blocked or delayed more than $228 billion in projects since the start of 2025, according to research group Data Center Watch. More than 500 localities across 39 states have now passed bans, moratoriums or other restrictions on data center construction, and 843 opposition groups are active in 49 states.

Libby Rodney, chief strategy officer at The Harris Poll, wasn’t sure at first when Fortune asked if these were flipsides of the same story, but when put in context with the craze for “analog” trends in the developing AI economy, she responded, “I think you’re onto something” and explained there’s a “control element” underlying a lot of these responses.

Rodney’s polling suggests the data center fight and the religious turn are not parallel trends but expressions of similar underlying needs. “There’s a control element,” she said of the religious data. “That’s the reason that they are spiritual—they’re looking for some sense of agency and control.” Her research found 57% of Gen Z say they turned to spirituality or manifestation practice specifically to feel greater control over their future, while 60% say they belong to more real world and in-person communities than they used to, and 70% say they want to belong to even more of them in the future.

“The real thing that you can see is there’s just no consent,” Rodney said in an interview. “This idea that the world—the narrative that’s out there from tech companies—is like this AI world is happening whether you like it or not. And so there’s this lack of consent.”

A Movement With Numbers Behind It

The scale of the data center backlash is a constant on the eve of America’s midterm elections. Local pushback blocked or delayed 45 projects worth $68 billion between April and June of this year alone, according to Data Center Watch, following an even larger $130 billion disruption in the first quarter — the largest single-quarter total on record. Gallup polling from March found seven in 10 Americans oppose data center construction near where they live and New York became the first state to impose a moratorium by executive order in July, pausing environmental permits for large facilities, with Pennsylvania and Texas following with their own restrictions. In California, officials in 15 cities and counties proposed or adopted moratoriums in a single month this fall.

Rodney pointed out that this is tangible, physical infrastructure, rather than technology in the abstract. “All the other AI things are happening in the private sector or the national government,” she said. “But this is something that happens at a local jurisdiction point of view. So the locality of it is huge. That is what makes people feel like they can have a difference.” Her research found 73% of Americans don’t want AI imposed on their community, and 68% say AI can be useful but “feels forced.”

None of this is happening in a vacuum of economic confidence. The same Harris Poll research finds 70% of Gen Z say the future they were promised hasn’t materialized, and 61% have skipped medical care because of cost. A companion finding from Harris Poll’s Milken Institute research this spring showed a 41-point gap between how business leaders and workers see AI’s financial upside: 68% of leaders expect to be better off in five years because of the technology, versus just 27% of workers. “They’re on two completely different journeys,” Rodney said, “and really no one’s been talking to the American worker.”

That gap, she argued, is what fills the space with fear rather than persuasion. “In this messaging void, the only things that they’re hearing are… you might lose your job. Humanity might die,” she said. “It’s very logical and rational to not be down with that.”

A generation learns to bowl together

Rodney agreed that Gen Z is acting out against the warnings of Robert Putnam’s sociological classic Bowling Alone, the seminal study of the collapse of American civic and associational life. When the Harris Poll works with universities, she said, alumni gatherings aren’t “fancy drinks and cocktails and nice dinners” anymore, but instead “they’re like, ‘It’s better to just put out chess boards and board games and cheap beer.’” It’s like they’re trying to bowl together after the long decline that Putnam charted in his book.

Seven in 10 Gen Zers in the survey said they’ve reached out for help or leaned on others in the past year — more than any other generation. “Religion is coming back because it’s a couple of things,” Rodney said, arguing that it’s perhaps the ultimate example of a Putnam-ian phenomenon. “It’s physical spaces, but it’s people who help and it’s community that comes together.”

That community-seeking impulse, she said, is the same one driving the infrastructure fights: “In this time of change, it’s like, ‘Okay, how can I reach for control?’” One answer, for many, is to protest data centers. “And then I’m going to go into spirituality.”

The contrast with millennials is stark, as the Patriot Act passed in 2001 amid many warnings—but little action—over loss of privacy, and while the Iraq War was much protested but ultimately ground on for years. Gen Z is finding a way to affect the conversation in a way that millennials did not, Rodney said.

Whether the data center fight becomes a durable political realignment or a moment-specific backlash is still unsettled—moratoriums can be reversed, and developers have already begun suing local jurisdictions over bans. But the polling, at least, tells a consistent story: the generation raised to be the most secular, atomized and politically disengaged in American history is instead the one showing up to church more than the Boomers who raised them, and organizing against a trillion-dollar buildout with more discipline than the generation before it ever managed.

For this story, Fortune journalists used generative AI as a research tool. An editor verified the accuracy of the information before publishing.

This story was originally featured on Fortune.com

This post was originally published here. 

A day after Iran’s president gave a speech at the UN General Assembly in which Iran said it would not bend the knee to the US, Iran carried out a new attack on the Kurdistan Region of northern Iraq.

Iran has targeted the region with more than 1,000 drone and missile attacks since February. It has sought to strike at Kurdish dissident groups as well as US diplomatic facilities and other sites.

The goal of Iran is to deter Kurdish groups and also send a message that it can strike where it wants.

The local Kurdish Rudaw Media Network reported that the Islamic Revolutionary Guard Corps (IRGC) had fired three drones at a village near Soran in the Erbil province in the early hours of Thursday, wounding one Peshmerga.

The report also noted that the attack, which was launched against a location belonging to the Kurdistan Democratic Party of Iran (KDPI) on the outskirts of Soran, came hours after Iranian Foreign Minister Abbas Araghchi held indirect talks with US negotiators about a possible end to the war.

It is clear that Iran is sending a message that it will continue its attacks even amid negotiations. Iran may even continue the attacks if there is a deal.

Kurds vote for independence in northern Iraq

Iran believes it has a right to carry the war into Iraq and spread terror in the Kurdistan Region. The attacks have also happened a day after the anniversary of an independence referendum in the region in 2017.

In 2017, Kurds went to the polls in northern Iraq and voted for independence. This led to an attack by Iraq on Kirkuk and Iranian-backed militias attacking Kurds.

Rudaw says that a source told them that three drones targeted a location in the village of Dilizian at around 2 a.m. on Thursday, adding that the drones were fired from the Iranian side near the Haji Omaran border crossing.

Meanwhile, the KDPI confirmed that one of its sites had been targeted near Soran.  The attack also follows an announcement that the Kurdish Peshmerga, the armed forces of the Kurdistan Region of northern Iraq, have been unified.

The Kurds want closer security work with Baghdad, and they want air defenses. The problem is that Iran has shown that it continues to influence Iraq and has a free hand in attacks. The attack on September 24 is clearly part of the Iranian message.

This post was originally published on here. 

A day after Iran’s president gave a speech at the UN General Assembly in which Iran said it would not bend the knee to the US, Iran carried out a new attack on the Kurdistan Region of northern Iraq.

Iran has targeted the region with more than 1,000 drone and missile attacks since February. It has sought to strike at Kurdish dissident groups as well as US diplomatic facilities and other sites.

The goal of Iran is to deter Kurdish groups and also send a message that it can strike where it wants.

The local Kurdish Rudaw Media Network reported that the Islamic Revolutionary Guard Corps (IRGC) had fired three drones at a village near Soran in the Erbil province in the early hours of Thursday, wounding one Peshmerga.

The report also noted that the attack, which was launched against a location belonging to the Kurdistan Democratic Party of Iran (KDPI) on the outskirts of Soran, came hours after Iranian Foreign Minister Abbas Araghchi held indirect talks with US negotiators about a possible end to the war.

It is clear that Iran is sending a message that it will continue its attacks even amid negotiations. Iran may even continue the attacks if there is a deal.

Kurds vote for independence in northern Iraq

Iran believes it has a right to carry the war into Iraq and spread terror in the Kurdistan Region. The attacks have also happened a day after the anniversary of an independence referendum in the region in 2017.

In 2017, Kurds went to the polls in northern Iraq and voted for independence. This led to an attack by Iraq on Kirkuk and Iranian-backed militias attacking Kurds.

Rudaw says that a source told them that three drones targeted a location in the village of Dilizian at around 2 a.m. on Thursday, adding that the drones were fired from the Iranian side near the Haji Omaran border crossing.

Meanwhile, the KDPI confirmed that one of its sites had been targeted near Soran.  The attack also follows an announcement that the Kurdish Peshmerga, the armed forces of the Kurdistan Region of northern Iraq, have been unified.

The Kurds want closer security work with Baghdad, and they want air defenses. The problem is that Iran has shown that it continues to influence Iraq and has a free hand in attacks. The attack on September 24 is clearly part of the Iranian message.

This post was originally published on here. 

The US Senate health committee will hold a confirmation hearing on Thursday for Heidi Overton, President Donald Trump’s pick to lead the embattled FDA, as it also weighs advancing his surgeon general nominee.

Trump nominated Overton, a White House policy aide, in August, turning to an “America First” ally to steady an agency shaken by staff losses, low morale and fights over vaccines, the abortion pill and drug approvals.

If confirmed, Overton will take over a Food and Drug Administration that has lost more than 3,000 staff over the past year, including division heads, and is under pressure to rebuild confidence among industry and public-health groups.

The agency, responsible for regulating and approving all drugs, treatments and vaccines, has faced concerns that it has become too political.

Overton, a preventive medicine physician and deputy director of the White House Domestic Policy Council, previously worked at the America First Policy Institute, a conservative think tank. Her nomination coincides with new initiatives from Trump health officials on autism, vaccines and the abortion pill.

Overton to be pressed on vaccines

Senator Bill Cassidy of Louisiana, the panel’s Republican chairman and a physician increasingly critical of the administration’s approach to immunization, is likely to press Overton on vaccines.

She spoke at a White House event last month where Trump signed an executive order seeking to cut back the childhood vaccination schedule and split the measles, mumps and rubella vaccine into three shots, a move physicians’ groups and vaccine makers strongly oppose.

Overton is also likely to be pressed on whether she would defy Health Secretary Robert F. Kennedy Jr., a longtime anti-vaccine activist, or Trump, if ordered to take actions she deems unscientific or illegal. That question has become a fixture of recent confirmation hearings for Trump health nominees.

Overton’s anti-abortion views are expected to draw Democratic scrutiny and opposition from abortion-rights advocates. Overton called the Supreme Court’s 2022 decision overturning Roe v. Wade “a huge victory for life,” and anti-abortion groups have welcomed her nomination.

Politically motivated fight over abortion pill

If confirmed, Overton would inherit an FDA review of the abortion pill mifepristone that abortion-rights groups say is politically motivated and that could lead to tighter restrictions on the drug. The agency faces an October 7 deadline to update a federal court on its progress.

The committee is also scheduled to vote on Nicole Saphier, a radiologist and former Fox News contributor, for surgeon general.

Saphier, Trump’s third nominee, was grilled last week on childhood vaccines, voicing support for immunization as she seeks a role in an administration pursuing sweeping changes to vaccine guidance. Pressed by Cassidy to say vaccines do not cause autism, a debunked link that Kennedy has promoted contrary to scientific evidence, she eventually agreed they do not.

The United States has had no surgeon general since Trump took office in January 2025, and the FDA has lacked a permanent leader since Dr. Marty Makary resigned in May after clashes with White House officials.

This post was originally published on here. 

The US Senate health committee will hold a confirmation hearing on Thursday for Heidi Overton, President Donald Trump’s pick to lead the embattled FDA, as it also weighs advancing his surgeon general nominee.

Trump nominated Overton, a White House policy aide, in August, turning to an “America First” ally to steady an agency shaken by staff losses, low morale and fights over vaccines, the abortion pill and drug approvals.

If confirmed, Overton will take over a Food and Drug Administration that has lost more than 3,000 staff over the past year, including division heads, and is under pressure to rebuild confidence among industry and public-health groups.

The agency, responsible for regulating and approving all drugs, treatments and vaccines, has faced concerns that it has become too political.

Overton, a preventive medicine physician and deputy director of the White House Domestic Policy Council, previously worked at the America First Policy Institute, a conservative think tank. Her nomination coincides with new initiatives from Trump health officials on autism, vaccines and the abortion pill.

Overton to be pressed on vaccines

Senator Bill Cassidy of Louisiana, the panel’s Republican chairman and a physician increasingly critical of the administration’s approach to immunization, is likely to press Overton on vaccines.

She spoke at a White House event last month where Trump signed an executive order seeking to cut back the childhood vaccination schedule and split the measles, mumps and rubella vaccine into three shots, a move physicians’ groups and vaccine makers strongly oppose.

Overton is also likely to be pressed on whether she would defy Health Secretary Robert F. Kennedy Jr., a longtime anti-vaccine activist, or Trump, if ordered to take actions she deems unscientific or illegal. That question has become a fixture of recent confirmation hearings for Trump health nominees.

Overton’s anti-abortion views are expected to draw Democratic scrutiny and opposition from abortion-rights advocates. Overton called the Supreme Court’s 2022 decision overturning Roe v. Wade “a huge victory for life,” and anti-abortion groups have welcomed her nomination.

Politically motivated fight over abortion pill

If confirmed, Overton would inherit an FDA review of the abortion pill mifepristone that abortion-rights groups say is politically motivated and that could lead to tighter restrictions on the drug. The agency faces an October 7 deadline to update a federal court on its progress.

The committee is also scheduled to vote on Nicole Saphier, a radiologist and former Fox News contributor, for surgeon general.

Saphier, Trump’s third nominee, was grilled last week on childhood vaccines, voicing support for immunization as she seeks a role in an administration pursuing sweeping changes to vaccine guidance. Pressed by Cassidy to say vaccines do not cause autism, a debunked link that Kennedy has promoted contrary to scientific evidence, she eventually agreed they do not.

The United States has had no surgeon general since Trump took office in January 2025, and the FDA has lacked a permanent leader since Dr. Marty Makary resigned in May after clashes with White House officials.

This post was originally published on here. 

Tehran will attack the airports of neighboring countries that cooperate with US sanctions against Iranian airlines, Mohsen Rezaei, secretary of Iran’s Supreme National Security Council, said in an interview with state television on Wednesday.

The threat came after US Treasury Secretary Scott Bessent announced on Monday that all Iranian airlines would be forced to stop operating by Wednesday, while countries allowing air services that enable the continued flights would face secondary sanctions.

“If a country cooperates with or embarks on adventures with the United States, its airports will no longer be able to operate flights,” Rezaei threatened.

Georgia and Azerbaijan both confirmed that flights from Iranian airlines were suspended, and a travel agent in Tehran told Agence France-Presse that flights to Baghdad, Muscat and Qatar were also halted.

Turkish Airlines, AJet and Pegasus have canceled flights to and from Iran, though Iranian airlines have been allowed to continue operating between the two countries.

Tehran flights continue to various destinations despite sanctions

FlightRadar24 also published data suggesting that a flight operated by the sanctioned Mahan Air flew from Tehran to Guangzhou, China, after the Wednesday deadline came into effect, with additional flights listed to Bangkok, Phuket, Shanghai, and Kabul.

Despite the threat indicating a shift in Iran’s narrative from attacking US assets to openly admitting to targeting the states themselves, Bahraini political analyst Dr. Ahmed Alkhuzaie told The Jerusalem Post that he suspected public opinion in regional states had not changed significantly.

Alkhuzaie predicted that although Iran’s threats would be “taken seriously,” “they won’t comply” with the demand.

Iran will likely make a show of force against Bahrain or Kuwait before other Gulf states to try to force compliance, he suggested. 

This post was originally published on here. 

Tehran will attack the airports of neighboring countries that cooperate with US sanctions against Iranian airlines, Mohsen Rezaei, secretary of Iran’s Supreme National Security Council, said in an interview with state television on Wednesday.

The threat came after US Treasury Secretary Scott Bessent announced on Monday that all Iranian airlines would be forced to stop operating by Wednesday, while countries allowing air services that enable the continued flights would face secondary sanctions.

“If a country cooperates with or embarks on adventures with the United States, its airports will no longer be able to operate flights,” Rezaei threatened.

Georgia and Azerbaijan both confirmed that flights from Iranian airlines were suspended, and a travel agent in Tehran told Agence France-Presse that flights to Baghdad, Muscat and Qatar were also halted.

Turkish Airlines, AJet and Pegasus have canceled flights to and from Iran, though Iranian airlines have been allowed to continue operating between the two countries.

Tehran flights continue to various destinations despite sanctions

FlightRadar24 also published data suggesting that a flight operated by the sanctioned Mahan Air flew from Tehran to Guangzhou, China, after the Wednesday deadline came into effect, with additional flights listed to Bangkok, Phuket, Shanghai, and Kabul.

Despite the threat indicating a shift in Iran’s narrative from attacking US assets to openly admitting to targeting the states themselves, Bahraini political analyst Dr. Ahmed Alkhuzaie told The Jerusalem Post that he suspected public opinion in regional states had not changed significantly.

Alkhuzaie predicted that although Iran’s threats would be “taken seriously,” “they won’t comply” with the demand.

Iran will likely make a show of force against Bahrain or Kuwait before other Gulf states to try to force compliance, he suggested. 

This post was originally published on here. 

The Central Elections Committee rejected two attempts to bar Otzma Yehudit from the October 27 election on Thursday, one day after it voted to exclude Ra’am, the Joint List and two Joint List candidates under the same constitutional provision.

Nineteen committee members opposed disqualifying Otzma Yehudit, 10 supported the move, and one abstained.

The two days of hearings placed Section 7A of Basic Law: The Knesset at the center of the election campaign. It permits a party or candidate to be barred on three grounds: rejecting Israel’s existence as a Jewish and democratic state; inciting racism; or supporting armed struggle against Israel.

The committee voted Wednesday to disqualify Ra’am and the Joint List by identical votes of 18-5, with one abstention, despite the attorney-general’s position that the evidence against both lists was insufficient. It also voted 19-5, with two abstentions, to disqualify Joint List candidate Ofer Cassif, again contrary to her position.

Balad chairman Sami Abu Shehadeh’s case was different. The Attorney-General’s Office said there was a basis for the request after finding his explanations for an article published immediately after the October 7 massacre unsatisfactory. Committee chairman and Deputy Supreme Court President Noam Sohlberg took the exceptional step of joining the vote, which ended 31-4 in favor of disqualification.

Disqualification application lies on alleged denial of democracy, racial incitement

The cases are not legally identical, and each depends on the evidence presented against that particular party or candidate. They also follow different routes to the Supreme Court: The disqualifications of Cassif and Abu Shehadeh require the court’s approval, while decisions concerning Ra’am, the Joint List and Otzma Yehudit can be challenged through appeals.

Thursday’s applications against Otzma Yehudit, filed separately by the Democrats and by the Zulat Institute for Equality and Human Rights with several former senior public officials, alleged denial of Israel’s democratic character and incitement to racism.

Their central claim was that the committee should consider not only the party’s platform and statements, but what its representatives had done with government power. They alleged that party members had repeatedly undermined the rule of law and weakened democratic institutions.

They also cited material they said demonstrated sustained incitement against Arab citizens, including alleged identification with the outlawed Kach movement, support for a man convicted of support for Amiram Ben-Uliel, who was convicted of murdering three members of the Palestinian Dawabsheh family in the 2015 Duma arson attack. 

Otzma Yehudit rejected the allegations as a political effort to remove it from the election. Ben-Gvir accused the Democrats of trying to “eliminate” him politically and said the party would continue its campaign.

Attorney-General Gali Baharav-Miara opposed disqualification, but warned that the evidence was highly troubling and brought the party dangerously close to Section 7A’s prohibited territory.

The legal gap between approaching that boundary and crossing it is deliberately wide. The Supreme Court has reserved disqualification for extreme cases supported by a “critical mass” of clear, convincing and unequivocal evidence. The prohibited objective must be central rather than marginal or theoretical, and generally reflected in repeated efforts to put it into practice.

Ben-Gvir remarks about Arabs ‘troubling’

The attorney-general’s representative said most of the statements attributed to Ben-Gvir were old and had already been examined by the Supreme Court. The newer remarks were troubling, she said, but Ben-Gvir had maintained that they were directed at enemies or terrorists rather than Arabs as a group. The evidence therefore did not reach the required threshold for barring the entire list.

Baharav-Miara also separated the election question from pending proceedings over Ben-Gvir’s continued service as national security minister. Allegations that he damaged the independence and nonpolitical character of the police are being examined in those cases; they do not, without more, establish that Otzma Yehudit must be excluded from the election.

The panel separately rejected an attempt to bar the Religious Zionist Party from running in the elections. The Attorney-General’s Office, which supported the decision, posited that there was not enough evidence to move against RZP. 

The last request the committee heard on Thursday was from Otzma Yehudit to bar The Democrats from the elections. The committee rejected it 2-14, as coalition representatives boycotted the vote after Ben-Gvir refused to withdraw it. 

The individual decisions against Cassif and Abu Shehadeh must now be reviewed by the Supreme Court. Ra’am and the Joint List are expected to appeal their exclusions. Thursday’s decisions approving Otzma Yehudit, RZP and The Democrats will stand unless they are challenged through the separate appeal procedure prescribed for party lists.

This post was originally published on here. 

The Central Elections Committee rejected two attempts to bar Otzma Yehudit from the October 27 election on Thursday, one day after it voted to exclude Ra’am, the Joint List and two Joint List candidates under the same constitutional provision.

Nineteen committee members opposed disqualifying Otzma Yehudit, 10 supported the move, and one abstained.

The two days of hearings placed Section 7A of Basic Law: The Knesset at the center of the election campaign. It permits a party or candidate to be barred on three grounds: rejecting Israel’s existence as a Jewish and democratic state; inciting racism; or supporting armed struggle against Israel.

The committee voted Wednesday to disqualify Ra’am and the Joint List by identical votes of 18-5, with one abstention, despite the attorney-general’s position that the evidence against both lists was insufficient. It also voted 19-5, with two abstentions, to disqualify Joint List candidate Ofer Cassif, again contrary to her position.

Balad chairman Sami Abu Shehadeh’s case was different. The Attorney-General’s Office said there was a basis for the request after finding his explanations for an article published immediately after the October 7 massacre unsatisfactory. Committee chairman and Deputy Supreme Court President Noam Sohlberg took the exceptional step of joining the vote, which ended 31-4 in favor of disqualification.

Disqualification application lies on alleged denial of democracy, racial incitement

The cases are not legally identical, and each depends on the evidence presented against that particular party or candidate. They also follow different routes to the Supreme Court: The disqualifications of Cassif and Abu Shehadeh require the court’s approval, while decisions concerning Ra’am, the Joint List and Otzma Yehudit can be challenged through appeals.

Thursday’s applications against Otzma Yehudit, filed separately by the Democrats and by the Zulat Institute for Equality and Human Rights with several former senior public officials, alleged denial of Israel’s democratic character and incitement to racism.

Their central claim was that the committee should consider not only the party’s platform and statements, but what its representatives had done with government power. They alleged that party members had repeatedly undermined the rule of law and weakened democratic institutions.

They also cited material they said demonstrated sustained incitement against Arab citizens, including alleged identification with the outlawed Kach movement, support for a man convicted of support for Amiram Ben-Uliel, who was convicted of murdering three members of the Palestinian Dawabsheh family in the 2015 Duma arson attack. 

Otzma Yehudit rejected the allegations as a political effort to remove it from the election. Ben-Gvir accused the Democrats of trying to “eliminate” him politically and said the party would continue its campaign.

Attorney-General Gali Baharav-Miara opposed disqualification, but warned that the evidence was highly troubling and brought the party dangerously close to Section 7A’s prohibited territory.

The legal gap between approaching that boundary and crossing it is deliberately wide. The Supreme Court has reserved disqualification for extreme cases supported by a “critical mass” of clear, convincing and unequivocal evidence. The prohibited objective must be central rather than marginal or theoretical, and generally reflected in repeated efforts to put it into practice.

Ben-Gvir remarks about Arabs ‘troubling’

The attorney-general’s representative said most of the statements attributed to Ben-Gvir were old and had already been examined by the Supreme Court. The newer remarks were troubling, she said, but Ben-Gvir had maintained that they were directed at enemies or terrorists rather than Arabs as a group. The evidence therefore did not reach the required threshold for barring the entire list.

Baharav-Miara also separated the election question from pending proceedings over Ben-Gvir’s continued service as national security minister. Allegations that he damaged the independence and nonpolitical character of the police are being examined in those cases; they do not, without more, establish that Otzma Yehudit must be excluded from the election.

The panel separately rejected an attempt to bar the Religious Zionist Party from running in the elections. The Attorney-General’s Office, which supported the decision, posited that there was not enough evidence to move against RZP. 

The last request the committee heard on Thursday was from Otzma Yehudit to bar The Democrats from the elections. The committee rejected it 2-14, as coalition representatives boycotted the vote after Ben-Gvir refused to withdraw it. 

The individual decisions against Cassif and Abu Shehadeh must now be reviewed by the Supreme Court. Ra’am and the Joint List are expected to appeal their exclusions. Thursday’s decisions approving Otzma Yehudit, RZP and The Democrats will stand unless they are challenged through the separate appeal procedure prescribed for party lists.

This post was originally published on here. 

Exclusive: Google on Thursday announced a new initiative to partner with veterans groups to help 25,000 veterans, service members and military spouses enter the skilled trades, according to an announcement viewed by FOX Business.

Google’s announcement will feature a partnership with several prominent organizations that serve veterans around the nation, including Hiring Our Heroes, Student Veterans of America and the Home Builders Institute.

The move comes against the backdrop of a shortage of workers in the skilled trades amid surging demand driven in part by the artificial intelligence (AI) buildout.

Tim Chadwick, Google’s data center operations area lead for Ohio and Indiana who served in the U.S. Navy for 21 years, said in the company’s announcement that the initiative is “making it easier for veterans to make career transitions to high-growth careers like mine.”

GOOGLE PARTNERS ON AI TRAINING FOR THOUSANDS OF AMERICAN MANUFACTURING WORKERS

“As a leader for Google’s data centers in Ohio and Indiana, I know there’s a major need for these types of professionals,” Chadwick said.

“Currently, there are hundreds of thousands of skilled trade roles open across the U.S. just waiting to be filled. These are jobs like master electrician, lead pipefitter, and project manager – high-growth careers that offer long-term financial stability.”

“But beyond just the growing need, these roles also make the most of the kinds of skills veterans and military families know better than anyone – skills like problem-solving under pressure, teamwork, and getting a job done right,” Chadwick wrote.

GOOGLE LAUNCHES GLOBAL STUDY OF MILLIONS OF AI CHATS TO UNDERSTAND HOW PEOPLE USE ARTIFICIAL INTELLIGENCE

Cory Boatwright, president and CEO of Student Veterans of America (SVA), said in a statement to FOX Business that the group’s “work with Google took us to 11 states to host 22 roundtables, and one lesson that stood out was that veterans want more pathways to meaningful careers.”

“We’re broadening what ‘student veteran’ means to anyone continuing their education in pursuit of something more: a degree, a certificate, a skilled trade. The student decides the path and what is meaningful to them,” he said.

“Our job is to make sure their pursuit is successful and leads somewhere great – skilled trades are an important part of that equation, particularly as states and employers look for talent to fill critical workforce needs,” Boatwright added. “If we weren’t thinking about skilled trades, then we’d be left behind.”

GOOGLE COMMITS $1B TO NORTH CAROLINA DATA CENTERS AS AI DEMAND SURGES

Google’s announcement follows a move to co-found the Alliance for America’s Skilled Trades with BlackRock, Ford and Carhartt to train 1 million workers in the skilled trades by 2030.

It also comes in addition to prior investments such as a $15 million partnership with the electrical training Alliance (etA) to put AI-powered learning tools on the trade floor, and a $4 million grant to Student Veterans of America to bring career certificates and AI courses to veterans nationwide.

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This post was originally published here. 

Starbucks announced plans to close roughly 250 stores across North America this week, company COO Mike Grams revealed Thursday.

Grams announced the closure in a public statement, saying that while most of its 18,000 North American stores were profitable, a small portion has been struggling.

“We have carefully reviewed our North America coffeehouse portfolio and identified locations where we do not believe we can consistently deliver the experience we want for customers and partners or where we don’t see a path to acceptable financial performance,” Grams said in the announcement, which was in the form of a letter to “Partners.”

STARBUCKS RESOLVES FLORIDA DEI LAWSUIT WITH BLOCKBUSTER AGREEMENT

“As a result, we will close approximately 250 coffeehouses later this week. This represents approximately 1% of our more than 18,000 North America coffeehouses,” he added.

“Closing any coffeehouse is a difficult decision, and we know today’s news will be hard for the partners, customers and communities affected,” the statement said.

CORPORATION TARGETED BY BRANDON GILL DIGS IN ON ‘DIVERSE WORKFORCE’ AFTER FIREBRAND OPENS DEI PROBE

The announcement comes just days after Starbucks resolved a DEI lawsuit in Florida last week. The coffee giant will pay Florida $1 million and will not use race-and sex-based goals, quotas and preferences in employment practices companywide under a sweeping settlement.

Florida Attorney General James Uthmeier’s office confirmed to Fox News Digital that the agreement applies to all Starbucks operations nationwide, not just the company’s locations in Florida.

GOP FRESHMAN FIREBRAND TARGETS GLOBAL CONSULTING GIANT OVER ‘PLAINLY ILLEGAL’ DEI PRACTICES

“Every Floridian deserves to be hired, promoted and compensated based on merit, qualifications and character — not race or sex,” Uthmeier told Fox News Digital. “This resolution ensures that Starbucks’ policies and practices fully comply with Florida’s civil rights laws. DEI can never be an excuse to violate civil rights.”

The negotiated resolution ends the lawsuit Uthmeier filed in December 2025 accusing Starbucks of violating the Florida Civil Rights Act through racial and sex-based goals, quotas and preferences in its workplace policies.

TRUMP ADMINISTRATION ACCUSES PRESTIGIOUS LAW SCHOOL OF FAVORING BLACK APPLICANTS OVER WHITE, ASIAN PEERS

Under the agreement, Starbucks committed to complying with the state civil rights law, which prohibits race and sex-based preferences in hiring, promotions, pay, executive compensation, mentorship programs, supplier selection and board composition.

The company also agreed it will not participate in organizations that require it to increase the racial diversity of its board of directors.

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Starbucks’ chief legal officer will be required to submit annual certifications of the company’s continued compliance for four years. The company will also pay $1 million to the Florida Department of Legal Affairs to reimburse the office for the time, expenses and costs of bringing the case.

Fox News’ Stepheny Price contributed to this report.d.

This post was originally published here. 

Whenever an image crisis involving Israel erupts, like after the film NAZA won a major prize at the Venice Film Festival, there are often cries of “Where is the hasbara?” It is as if hasbara were a miracle cure: take two pills in the morning, and everything will be fine.

It doesn’t work that way, and let me start with the word itself.

I have not found another country that uses a term exactly equivalent to the Israeli concept of hasbara, which literally means “explanation.” Rather, formulations such as “public diplomacy” and “strategic communications” are used to describe efforts that are aimed not only at governments but also at foreign publics.

The word hasbara suggests that if only we explain things properly, the problems will disappear. But persuasion requires something more: a policy that can be explained and defended.

Consider a few questions, in both domestic and foreign affairs, that even the most talented spokesperson would find difficult to answer.

Interlocutors might ask: If the government opposes violence by Israelis in the West Bank, violence that even US Ambassador Mike Huckabee, a strong supporter of Israel, has described as involving “Israeli terrorists,” why does it continue? 

Or: If Israel continues its de facto annexation of the West Bank, how does it envisage the future of the millions of Palestinians living under its control? Does it intend to grant them equal rights, thereby changing the country’s Jewish character? If not, what will their status be?

While “but they…” may sometimes be true, it does not answer the questions.

A donor who contributes to Israeli social causes may ask about the future of the economy, given the growth of the ultra-Orthodox sector and the benefits it receives, despite its limited participation in the workforce. Saying: “That’s democracy” may be legally correct, but it is unlikely to persuade that donor to continue investing.

In addition to explicable policies, there must be those who do the explaining. After years in which the Foreign Ministry has suffered budget cuts, Israel’s diplomatic network shrank, and the ministry and plum positions abroad are treated as a political prize, who is supposed to do the explaining? 

Imagine a different response

There is another question: What, and whom, should Israel respond to, and how?

Anyone who has represented Israel abroad knows that it is simply impossible to respond to everything. Every reaction has to be weighed against its potential benefit and damage. Responding can keep an issue on the agenda; ignoring it can suggest unwillingness to confront criticism. How does one decide? Carefully.

Like the many senior Israeli officials who rushed to respond to NAZA, I have not seen the film. But I understand that it raises serious allegations, while also being subject to professional criticism. 

So, imagine that, instead of the prime minister and many others responding as they did – from designating the filmmakers “traitors” to demanding that their citizenship be revoked – only one or two official bodies, perhaps the IDF Spokesman’s Unit and/or the Foreign Ministry, had responded, with everyone else referring questions to them.

Imagine also that the designated responders had said that conclusions cannot be drawn from anonymous testimony, but that Israel would, of course, thoroughly investigate any information concerning potentially unlawful conduct, and hold those responsible accountable.

And then imagine that Israel had actually conducted such a thorough investigation and taken action against anyone found to have committed wrongdoing.

In such a scenario, two groups would have been deprived of headlines: the politicians who rushed to speak out, and the filmmakers, who received publicity they could only have dreamed of. Israel, meanwhile, would have gained.

But that requires management and coordination, which are sadly lacking, and, above all, politicians who look beyond their political base and instead consider the public interest.

There is no question that Israel faces ongoing challenges that have nothing to do with its own policies or conduct, including the actions of antisemites and others who seek to undermine it. But that does not erase the problems created by Israel’s own actions.

At the start of a new year, one can hope that Israel’s leaders will put the country’s interests first, and that they will act wisely and effectively to pursue consistent, coherent, and defensible policies.

Otherwise, hasbara is little more than propaganda: a futile attempt to fill a vacuum created by the absence of policies that can be convincingly explained and defended.

The writer was Israel’s first ambassador to the Baltic states after the disintegration of the Soviet Union, ambassador to South Africa, and the congressional liaison officer at the Israeli embassy in Washington. She is a graduate of Israel’s National Defense College.

This post was originally published on here. 

Ursula von der Leyen made a striking proposal in Strasbourg on September 16. With Canadian Prime Minister Mark Carney in attendance, the European Commission president opened the door to Canada becoming what she called the European Union’s first “associate member.”

There is only one problem. The European Union has no such status.

Associate membership does not appear in the EU treaties. There is no established package of rights and obligations attached to it, no predetermined place for an associate member in the Union’s institutions, and no agreement about how much access to the Single Market it would entail. Von der Leyen supplied a name before Europe had designed the institution.

But Brussels does not need to start with a blank sheet of paper.

It should look at Israel.

Canada may indeed become the first country formally granted whatever new status the EU eventually calls “associate membership.” But it would hardly be the first country to inhabit the space between membership and an ordinary third-country relationship. Israel has spent nearly seven decades constructing one version of such a relationship: integration without membership.

The story began almost as soon as the European project itself. In April 1958, only months after the Treaty of Rome entered into force, Israel became the third country, after Greece and the United States, to request the establishment of a diplomatic mission to the European Economic Community in Brussels. Full diplomatic relations followed in February 1959.

And Israel wanted more than trade.

From the beginning, Israeli policymakers sought association with the emerging Community. The Israeli ambition was substantially political as well as economic. Israel eventually accepted agreements that fell short of association, but the larger objective was to secure a recognized place alongside the developing European project.

What Israel was asking Europe in the late 1950s sounds surprisingly familiar in 2026: how close can a non-member country come to the European project without actually joining it?

The answer emerged gradually rather than through grand constitutional design.

Over the decades, Israel and Europe built their ties layer by layer. The 1995 EU-Israel Association Agreement, which entered into force in 2000, established the central institutional framework. The European Neighbourhood Policy later added an Action Plan intended to bring Israel closer to European policies and programs. Cooperation expanded into research and innovation, aviation, pharmaceuticals, education and regulatory cooperation.

Israel’s largest trading partner

Today those ties reach remarkably far. The EU is Israel’s largest trading partner, accounting for 31.7% of Israel’s trade in goods in 2025, worth €43.3 billion. Israel participates in Horizon Europe. The EU-Israel aviation agreement connects the Israeli and European aviation markets, while another agreement facilitates trade in pharmaceuticals. Israel also participates in the Pan-Euro-Mediterranean system of rules of origin.

This is not EU membership. But neither is it a conventional relationship between two separate markets.

Nearly two decades ago, Joel Peters and I described the logic behind this arrangement as “integration without membership.” We proposed a Euro-Israeli Partnership that would sit deliberately below full membership while moving beyond the existing Association Agreement. It envisaged deeper political cooperation, Israeli participation in European agencies and programs, gradual convergence with relevant parts of the European acquis, and greater access to the Single Market.

The objective was not to prepare Israel for eventual accession. It was to recognize that European integration need not end at the Union’s formal borders.

Israel is not the only precedent. Switzerland offers the EU’s most developed example of sector-by-sector integration outside membership, with extensive agreements connecting it to large parts of the Single Market and numerous European programs. But Switzerland is geographically and economically embedded in Europe. Israel offers a different lesson: a country outside geographical Europe, with no realistic membership perspective, can nevertheless become deeply connected to selected parts of the European system.

That distinction suddenly matters far beyond Israel.

Carney has ruled out Canadian EU membership. What Ottawa is seeking instead is what he has called a “unique alliance,” extending across trade, defense, technology, energy, and critical minerals. Canada has already moved closer to European defense structures through its participation in the EU’s SAFE defense program.

Here the analogy with Israel has limits. Israel’s integration has developed overwhelmingly through economic, regulatory, scientific, and sectoral cooperation. It does not provide a blueprint for the defense and security dimension that Canada and the EU are now considering. If associate membership eventually encompasses defense procurement and strategic coordination, Brussels will be constructing something new.

But the Israeli experience does offer a model for how such a relationship can be constructed.

Closer ties do not have to be all or nothing. They can proceed sector by sector. Research systems can connect without political membership. Aviation markets can open. Regulations can converge in selected areas. European programs can admit non-member states. New areas of cooperation can be added as political circumstances and mutual interests change. None of that necessarily requires the full institutional rights of an EU member state.

The Israeli case also cautions against romanticizing such arrangements. EU-Israel relations are currently experiencing a period of severe political strain. EU institutions have debated Israel’s compliance with the human-rights provisions of the Association Agreement and possible restrictions on parts of the relationship over the war in Gaza.

That does not invalidate the model. It demonstrates something important about it. Deep institutional ties do not eliminate political disagreement. They create structures within which cooperation, conditionality, and conflict can coexist.

Canada has, therefore, exposed a gap in the EU’s institutional architecture. There are countries that may want much more than a trade agreement without seeking membership. Switzerland demonstrates how far that principle can extend within Europe. Israel demonstrates that it can extend beyond it. Canada may now add a strategic and defense dimension neither model fully provides.

Canada could still become the first country formally designated an EU associate member. But it would enter territory Europe has been exploring for decades.

The Canadian question is how a country can move much closer to the EU without becoming a member of it.

The name may be new. Much of the model is not.

The writer is a senior fellow at the Jewish People Policy Institute (JPPI) and a professor of European studies and international relations in the Department of Politics and Government at Ben-Gurion University of the Negev.

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A widening gap has emerged between Israeli and American Jews over whether Israeli government policy contributes to the rise in global antisemitism, according to the September 2026 Jewish People Voice Index published by the Jewish People Policy Institute (JPPI) on Thursday.

The findings showed that despite a continued sense of partnership and strong cultural connection, a growing share of engaged American Jews attribute waves of antisemitism around the world to policies pursued by the Israeli government.

According to the index, two out of five American Jews, 39%, said Israeli government policy contributes “to a large extent” to the increase in antisemitism worldwide, a sharp rise from 31% who held that view in September 2025.

Another 35% said Israeli policy contributes “to some extent,” while only 23% rejected any connection between the two, down substantially from 32% a year earlier.

Among Israeli Jews, however, the picture was nearly the reverse. Data from the Israeli Society Index showed that 44% of Israeli Jews rejected any link between state policy and antisemitism, while only 28% said policy contributes to it to a large extent.

The divide in perceptions also translated directly into differing views over whether Israel should change its policies in response to antisemitism.

Some 28% of American Jews surveyed said Israel should change its policies “to a large extent” because of the waves of antisemitism, up from 21% last year. Among Israeli Jews, only 17% supported such a change.

At the same time, 57% of Israeli Jews said policy should not be changed at all, compared with 37% of American Jews.

Cautious optimism, less pessimism about Israel’s future

Ahead of Rosh Hashanah 5787, the index also examined attitudes toward Israel’s future.

Israeli Jews proved considerably more optimistic, with 43% predicting a positive future for the country, compared with only 19% of American Jews.

At the same time, the American results showed some recovery from last year’s low point. In September 2025, 38% of American Jews said Israel was in a “decline that will continue.” That figure fell to 25% this year, nearly identical to the 24% recorded among Israeli Jews.

Uncertainty was also notably higher among American Jews. Some 16% said they did not know how to assess Israel’s situation, compared with just 3% of Israeli Jews.

The political divide among US Jews was reflected clearly in the findings. Among respondents who described themselves as strongly conservative, 51% expressed substantial optimism about Israel’s future.

Among those identifying as strongly liberal, however, the share of optimists fell to just 4%, while half, 50%, said they feared a continued decline.

Language as a bridge: Hebrew, Yiddish and community connection

On the cultural level, the index examined proficiency in Jewish languages among Jews who have a connection to the community, described in the survey as “engaged.”

The data showed that half know hundreds of Hebrew words or more. Some 13% said they speak Hebrew fluently, 15% said they know at least 1,000 words, and 22% said they know hundreds of words.

Only 2% said they did not know a single word of Hebrew.

Yiddish had a more modest standing. Some 18% said they knew at least several hundred words, while the largest group, 36%, said they knew only dozens of words.

The survey found a direct correlation between Hebrew proficiency and the strength of respondents’ connection to Israel.

Among Jews who had previously lived in Israel, half said they spoke Hebrew fluently, and another 25% knew at least 1,000 words. Among those who had never visited Israel, one-third (33%) knew only a few words.

A significant correlation was also found with religious affiliation. All haredi (ultra-Orthodox) respondents (100%) and 76% of Orthodox respondents knew hundreds of Hebrew words or more, compared with only 28% of Reform Jews. A similar trend emerged for Yiddish.

JPPI President Prof. Yedidia Stern said the findings illustrated that ties between Israel and Diaspora Jewry were not one-dimensional.

“The index illustrates that the relationship between Israel and Diaspora Jewry is not one-dimensional. On the one hand, we are seeing a widening of the gap in perceptions regarding the connection between Israeli government policy and antisemitism; on the other hand, Jews in the US are less pessimistic about the future of the state compared with last year, and the Hebrew language continues to be a central component of their identity. The conclusion is that one must know how to distinguish between criticism of government policy and the degree of connection, affinity, and commitment to Israel and Jewish identity,” Stern said.

JPPI’s Jewish People Voice Index was conducted by institute fellows Shmuel Rosner, Noah Slepkov and Yael Levinovsky, under the statistical supervision of Prof. David Steinberg.

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Former prime minister and B’Yachad party chairman Naftali Bennett presented northern local authority leaders on Wednesday with his party’s proposed “Confrontation Line Law,” which would expand the area eligible for state assistance and increase tax and municipal tax benefits for residents and businesses.

Bennett toured Israel’s northern border together with fellow party members Keren Turner, Bruria Naim-Arman, and Nisan Zeevi, who has led efforts to rehabilitate communities along the confrontation line and, according to the party, would oversee implementation of the law in a future government.

Bennett held lengthy discussions with local authority heads, heard their concerns, and told them that his support for northern communities during the recent war, which included dozens of visits to communities along the confrontation line, would be translated into legislation after the elections.

According to the party, the proposed legislation could affect the lives of approximately half a million Israelis.

The draft “Confrontation Line Law” is based on two existing legislative frameworks: the Tekuma Law, from which it adopts mechanisms for rehabilitation, budgeting, and implementation, and legislation providing assistance to Sderot and communities in the western Negev, which the party said provides a precedent for tax benefits, municipal tax discounts, and regional incentives.

The proposal would combine those frameworks with the existing Tenufa Directorate and government decisions, creating what the party described as a single, stable and binding legal framework for rehabilitating northern Israel.

Confrontation line would be extended to include Safed, add’l communities

Under the proposal, the confrontation line would be expanded from communities located within 0-9 km. of the border to those within 0-12 km. The change would include Hatzor Haglilit, Safed, and additional communities within the designated national priority area, making them eligible for assistance programs and benefits.

The plan would also increase tax benefits for residents by adding between four and six tax credit points or, alternatively, introducing a graduated five-year tax exemption track.

According to an example provided by the party, a person earning approximately NIS 20,000 per month could receive benefits worth up to NIS 8,000-NIS 15,000 annually under an expanded tax-credit system.

The proposal also includes incentives for businesses operating in the region.

Corporate tax would be reduced by between five and 10 percentage points for companies with substantial activity in the designated area. According to the party’s example, a company earning an annual profit of NIS 1 million could receive an additional benefit worth NIS 50,000-NIS 100,000 per year.

The party said that under the current system, relatively few companies receive tax incentives under the Law for the Encouragement of Capital Investments because they are unable to meet the requirement that 25% of their production be exported.

The proposed law would also establish a special tier under the Law for the Encouragement of Capital Investments, with corporate tax rates of between 0% and 4%, depending on a factory’s location.

The party argued that the current system, under which the level of benefits is the same for communities classified as Priority Area A+, does not sufficiently encourage exporting manufacturers to relocate to or operate in communities along the confrontation line.

State-funded municipal tax discounts

The proposal would also provide state-funded municipal tax discounts of 45% for residential properties and 39% for businesses, with the state fully compensating local authorities, in a model similar to that used for communities surrounding the Gaza Strip.

According to the party’s examples, a family paying NIS 8,000 annually in municipal taxes would save NIS 3,600, while a business paying NIS 100,000 would save NIS 39,000.

“Rehabilitating the confrontation line and propelling it forward is an important national mission,” Bennett said. “We have built a team of people who know how to get things done and who are capable of repairing the country from day one, without a grace period. Nisan, a man of the North and one of the leaders of the struggle to rehabilitate this region, will lead this important fight from within, just as he has done as a citizen in recent years. Together, we will repair things and build a prosperous future here.”

B’Yachad candidate Nisan Zeevi said the proposal would, for the first time, bring a Tekuma-style law to northern Israel.

“While everyone talks about the ‘what,’ we are also proposing the ‘how’: The Confrontation Line Law will enshrine the budgets and promises that were given to us and have not been fulfilled to this day. There are 360,000 residents along the confrontation line who need real solutions from the state, not more government decisions that are not implemented on the ground,” Zeevi said. 

“This is not another election promise to the residents of the North, but a declaration of commitment that will be implemented as soon as possible by the best people of action in the State of Israel. Together, we will repair things. Just as was done with the Tekuma Law in the South, we will advance a Tekuma law for the North that will change the face of the region for generations.”

This post was originally published on here. 

This story first appeared in Adam’s Biotech Scorecard, a STAT newsletter. Sign up here to get it delivered to your inbox. And subscribe to STAT+ to get an unabridged version, with exclusive content.

Speaking at recent investor conferences, Gilead Sciences’ top executives have been emphatically bullish about the biotech’s years-long push to develop drugs for inflammatory and autoimmune diseases.

“It’s one of the three scientific areas that are our core focus,” Gilead Chief Financial Officer Andy Dickinson told investors at the Cantor Global Healthcare Conference earlier this month. “We’re the largest virology company. We’ve built a robust oncology business. The third leg of the stool, so to speak, is the I&I [inflammation and immunology] business that we’re growing.”

Continue to STAT+ to read the full story…

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Kevin Warsh has—so far—managed to walk the line between his popularity in the White House and reassuring markets of Fed independence.

That balance is getting more precarious, as data is shaping up towards expectations for another base interest rate hike at the conclusion of the next Federal Open Market Committee (FOMC) meeting in October.

Expectations for another 25bps hike now sit at a little over 75%, CME’s FedWatch barometer shows at the time of writing. That move would irk President Trump, who has been lobbying for lower rates since before he returned to office.

However, with market expectations shifting higher—as well as bond yields increasing—Warsh and the FOMC will face renewed credibility questions if they don’t act.

10-year Treasury yields sit over 5.1% at the time of writing. The 30-year Treasury is above 5.4%. As Deutsche Bank’s Jim Reid said to clients this morning, the 10-year sell-off marked the “biggest daily jump since the market turmoil after Liberation Day in April 2025, taking it up to a post-2007 high.”

“A weak 5yr auction also didn’t help matters,” Reid added, “with yields up to their intraday highs after $70bn of notes were sold at 5.03%, +3.1bps above the pre-sale yield.”

Inflation expectations are also adding fuel to the fire. Markets had been cautiously optimistic for some good news on this front, with U.S and Iran negotiators meeting this week—heralding a potential de-escalation of the conflict in the Middle East and a normalization of oil prices.

Signs of an agreement remain elusive: Iran’s President Masoud Pezeshkian told the U.N. yesterday that it would never “bend the knee” but signaled it was ready for “ready for dialogue and diplomacy.” President Trump said he faced a decision: negotiating or “annihilat[ing]” the regime.

Oil prices have been tracking higher as the conversations continue, briefly hitting $108 per barrel of Brent crude this morning. Previously, analysts had suggested this week was a hinging moment for oil in the medium term.

Macquarie’s Thierry Wizman wrote in a note Tuesday: “Agreements and accords that come out of [the] meetings may determine whether the war continues and intensifies or whether an off-ramp is found.”

The oil question

Wizman added: “The direction of crude oil prices still bears on what happens to inflation globally and the decisions taken by central banks in response. We have seen every major central bank (including the U.S.’s Fed) cite either energy prices or “geopolitics” as a driver of decision-making going forward. It is the key reason behind recent “hawkish” rhetoric.”

And there lies Warsh’s conundrum. The FOMC has demonstrated with a hike at its last meeting that it is no longer willing to “look through” the supply-side inflation shock that the Middle East is creating—at least, it is not willing to overlook it to the detriment of the wider economy.

But President Trump’s response following the September meeting was telling. He implied that Warsh was still on the dovish side but that he was voting with the consensus out of submission rather than agreement. Trump also claimed the committee was acting politically, an unwelcome comment amid the Fed’s continued battle to demonstrate and protect its independence.

Bank of America’s U.S. economics team suggested hiking—even if it drew the ire of the White House—might be “expedient” for this reason. In a note last week, the team wrote: “Fed hikes looked politically challenging a few months ago, but they increasingly seem like an opportunity for Chair Warsh to burnish his legacy. We stick to our call for two more, in Oct and Dec.”

“The robustness of the nominal economy both increases the risks of inflation persistence and reduces the risks that hikes will cause a recession. However, if supply shocks prove persistent, the Fed might eventually have to choose between an extended inflation overshoot and a hard landing.”

This story was originally featured on Fortune.com

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Turkish President Recep Tayyip Erdogan is a “paper sultan,” Defense Minister Israel Katz said Thursday after Erdogan’s speech at the United Nations General Assembly in New York City.

Katz accused Erdogan of financing and embracing Hamas, and claimed that he dreams of “restoring the Ottoman Empire” in a post on X/Twitter.

“Now he’s signed the ‘Mecca Agreement’ to defend Saudi Arabia,” he said, “But when the Houthis fired missiles at Mecca and it was time to honor his word, he vanished into thin air.“

He also told the Turkish president to stop picking fights with Israel.

“Israel is strong and knows how to protect itself. We’re not the Kurds and the desperate people he still oppresses in Turkey today,” he said.

Erdogan calls for UN Security Council reform, condemns Gaza situation

Erdogan told the UNGA on Tuesday that the UN had become unable to fulfill its duty of preserving peace and called for reform of the Security Council.

He also condemned the situation in Gaza, saying, “No one who holds humanity, compassion, and mercy in their heart, with a sense of justice and conscience, can turn a blind eye” to what was happening there.

He urged countries that do not recognize a Palestinian state to review their position and for all nations to increase pressure on Israel to end the war in Gaza, which he called “our time’s most inhumane, most embarrassing concentration camp.”

Reuters contributed to this report.

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Russia is likely to intensify its hybrid war against the West in the coming months, Denmark’s defense intelligence service said in a new threat assessment on Thursday.

Hybrid warfare and sabotage on European soil gained renewed attention after Germany recently blamed Russia for an attempted drone attack at the Leipzig/Halle Airport, prompting European Union members to call for new sanctions against Russia.

Moscow has repeatedly denied any involvement in hybrid warfare, sabotage operations in NATO countries, or plotting any confrontation.

The Russian embassy to Denmark did not immediately respond to a request for comment.

More frequent attacks expected from Russia

The defense intelligence service said Russia will carry out more frequent attacks against the West and NATO “with greater consequences for the countries targeted than in the past.”

It added that there was “a low but growing risk” that Russia would launch a limited military attack against one or several NATO countries that border Russia.

“A limited military attack would be a desperate move on Russia’s part and, like the intensified hybrid attacks, could potentially take place in the coming months,” it said.

Such attacks could include isolated strikes with long-range weapons like drones or missiles on infrastructure supporting Ukraine, or false-flag operations using Ukrainian-made drones, intelligence service chief Thomas Ahrenkiel said at a press conference.

He said Russia could also deploy a limited number of troops into a NATO border area, potentially under the pretext of protecting Russian minorities.

“The aim is not to take over the country, but to divide NATO,” he said.

A Russian frigate last week fired two flares towards a Danish military helicopter sent to photograph it in international waters off Denmark, with one narrowly missing the aircraft, according to the Danish military.

In a separate statement on Thursday, the Danish Resilience Agency said it was likely that Russia would attempt to carry out destructive cyberattacks against Denmark, and it raised its threat level.

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Otzma Yehudit, founded in 2012, is one of many parties vying for citizens’ votes in the elections for the 26th Knesset, which will be held on October 27.

The party, whose name translates to “Jewish Power,” is led by National Security Minister Itamar Ben-Gvir and is consider the farthest-Right party in the Israeli political spectrum. It has its roots in the political movement founded by students of Rabbi Meir Kahane. 

In the 2022 election, Otzma Yehudit ran as part of a joint list with Finance Minister Bezalel Smotrich’s Religious Zionist Party and Noam, led by MK Avi Maoz. The list won 14 seats, with six allocated to Otzma Yehudit. 

For the 2026 election, however, Ben-Gvir chose to run separately from Smotrich, arguing that the two parties appeal to fundamentally different electorates. Prime Minister Benjamin Netanyahu later called on them to reunite, but Ben-Gvir rejected the proposal.

Its Knesset list, finalized in September, has Ben-Gvir first and followed by former Likud MK Tally Gotliv, who joined Otzma Yehudit after a public falling-out with Netanyahu. Gotliv had accused Netanyahu of sabotaging her bid in the Likud primaries, leading to her exit from Israel’s ruling party.

She is followed by Development of the Negev and Galilee and National Resilience Minister Yitzhak Wasserlauf, Heritage Minister Amichai Eliyahu, MKs Limor Son Har-Melech and Yitzhak Kreuzer, and newcomers Hanamel Dorfman and Tzahi Eliyahu.

Otzma Yehudit is currently polling at around eight-to-10 seats.

Ben-Gvir’s ambitions – and Otzma Yehudit’s red lines

Otzma Yehudit’s clearest political red lines have concerned the composition of any future government, particularly the inclusion of parties outside Netanyahu’s right-wing camp.

Ben-Gvir has opposed a unity government that would bring opposition parties into a coalition with the current right-wing bloc. During the election campaign, he accused Netanyahu of planning to form a “left-wing government” with his main political opponent, Gadi Eisenkot’s Yashar party, while excluding Otzma Yehudit.

He has also sought to prevent Arab parties from entering the next Knesset. Ben-Gvir recently petitioned the Central Elections Committee to bar Ra’am and its leader, Mansour Abbas, from running in the upcoming elections, referring to the party as “Hamas-supporting terrorists” and “wolves in sheep’s clothing.”

Where Otzma Yehudit stands on Gaza, the West Bank, and Palestinian statehood

Otzma Yehudit’s political platform is overwhelmingly focused on Israel’s immediate security environment, with Gaza, terrorism, and Israeli control over security policy among the party’s central issues.

According to Ben-Gvir, the party’s central mission for the next Knesset is to pursue a harder-line security policy, particularly regarding Gaza and terrorism. Otzma Yehudit’s members consistently frame the party’s approach around Jewish national sovereignty, a forceful response to terrorism, expanded backing for soldiers and police, and opposition to the establishment of a Palestinian state.

Ben-Gvir has argued that Israel should move from what he calls a policy of “containment” to offensive action against terrorism. In 2023, the party boycotted coalition activity over what it described as the government’s insufficient response to terrorism and its “containment policy.”

Gaza has been one of the central issues in Ben-Gvir’s security platform. He has called for a substantially more aggressive military response, saying in August that Israel should carry out nightly strikes killing dozens of Gazans.

Ben-Gvir has argued that Israel should seek a complete military victory rather than agreements that leave Hamas in place. He has previously opposed ceasefires and hostage agreements that he believes leave Hamas intact and has advocated for a complete Israeli military victory.

Ben-Gvir and Otzma Yehudit have repeatedly challenged government decisions they considered insufficiently aggressive toward Hamas or other terrorist organizations. In 2025, for example, the party temporarily left the coalition over a hostage-ceasefire agreement and returned only after the government resumed military operations in Gaza.

In September 2026, Ben-Gvir unveiled the “Disengagement 710” plan, which calls for encouraging the voluntary emigration of Gaza residents and establishing a government ministry to implement the policy. The proposal envisions 250,000 departures during the first year and 1.86 million over seven years.

Regarding the West Bank and the issue of Palestinian statehood, Ben-Gvir and Otzma Yehudit have repeatedly pushed for security policies centered on Israeli control rather than negotiations leading to Palestinian statehood. Additionally, Ben-Gvir’s political camp has expressed consistent support for extending Israeli sovereignty over territory claimed as part of the Land of Israel.

Ben-Gvir’s positions have at times put him at odds with the government’s diplomatic considerations. His opposition to ceasefires and hostage agreements, as well as his positions on Gaza, have generated tensions with Israel’s international partners.

 Otzma Yehudit leader and National Security Minister Itamar Ben-Gvir speaks at the Knesset, in Jerusalem, on June 3, 2024 (credit: Chaim Goldberg/Flash90)

Ben-Gvir’s domestic agenda and push for political power

Beyond security and foreign policy, Otzma Yehudit has used its position in government to push changes to the justice system, strengthen its political influence, and advance its vision of Jewish sovereignty.

The party’s record in government has largely reflected those priorities.

Ben-Gvir has supported the government’s 2023 judicial reform and opposed efforts to soften the legislation. After the Knesset passed the law limiting the courts’ use of the reasonableness standard in July 2023, the first major judicial-overhaul law passed as part of the reform, he called its passage “just the beginning” and said the remainder of the reform should pass.

The national security minister has also supported changing the way judges are selected, while Otzma Yehudit has sought greater political influence over judicial appointments. The party’s coalition agreement guaranteed it a position on the Judicial Selection Committee, and MK Kreuzer was elected as the coalition’s representative on the committee in 2023.

The party has also used its coalition leverage to oppose government legislation and increase its influence over coalition policy and government spending.

Ben-Gvir has repeatedly clashed with Attorney-General Gali Baharav-Miara and supported efforts to remove her. In 2024, most of the Otzma Yehudit faction voted against coalition legislation in protest after the government failed to dismiss her.

Later in 2024, Ben-Gvir instructed Otzma Yehudit ministers and MKs to vote against the government’s 2025 budget after negotiations over additional funding for the National Security Ministry broke down.

The party sponsored and successfully passed the death penalty for terrorists bill, which passed its final readings in March 2026 by a vote of 62-48, with one abstention, and subsequently entered into law.

However, no executions have been carried out under the law to date.

National Security Minister and Otzma Yehudit party chairman Itamar Ben-Gvir, together with members of his party, arrives to submit the party list to the Central Elections Committee ahead of the upcoming Israeli general elections, September 7, 2026. (credit: YONATAN SINDEL/FLASH90)

Otzma Yehudit has also focused on issues of Jewish sovereignty and religious-national policy.

Ben-Gvir has made repeated pilgrimages to the Temple Mount, and in July 2026, said that Jews praying there felt they were “the rightful owners” of the site.

The party has also opposed government actions it regards as restricting Jewish settlement in the West Bank. 

In 2023, Otzma Yehudit boycotted a Knesset session partly over the evacuation of settlers from Evyatar, describing it as contrary to coalition agreements and right-wing policy.

An election campaign poster for the Otzma Yehudit party is seen at the Mahane Yehuda Market in Jerusalem, September 2, 2026.  (credit: CHAIM GOLDBERG/FLASH90)

What a vote for this party is likely to produce

A vote for Otzma Yehudit would put Ben-Gvir and his party in a position to seek significant influence in a future right-wing government. The party is seeking to emerge from the election as an independent force on the Right, rather than as part of a broader Religious Zionist list, giving Ben-Gvir greater leverage in coalition negotiations if a right-wing government is formed.

Despite public spats, the party remains strongly aligned with Netanyahu’s right-wing bloc, and Ben-Gvir has argued that a strong Otzma Yehudit is necessary to form another fully right-wing government.

Ben-Gvir has already signaled that he intends to use the party’s strength to demand senior positions in a future government.

He has said he would seek the defense minister portfolio and called for Gotliv to become justice minister, although Likud officials have pushed back against those demands, saying that the party does not intend to relinquish either portfolio in future coalition negotiations.

The party’s record and campaign positions also indicate the areas in which it would seek to exert influence: a harder military line in Gaza, opposition to Palestinian statehood, stronger powers and resources for security institutions, greater political influence over judicial appointments and opposition to efforts to limit the government’s authority, and a more assertive approach to Jewish sovereignty at contested religious sites.

A vote for Otzma Yehudit is therefore specifically a vote for Ben-Gvir’s faction and its priorities, while also determining how much influence the party could have in shaping the composition and policies of a future right-wing government led by Netanyahu.

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Yemen’s Saudi-backed government forces repelled overnight attacks by the Iran-backed Houthis on a key supply route to the southern port city of Aden, where the internationally recognized administration is based, government sources said on Thursday.

The steep, winding mountain pass, known as Hejat al-Abd, is a lifeline for forces fighting on behalf of Yemen’s government, which has been hemmed in by a lightning Houthi advance this month linked to the Iran war.

The road is also critical for goods entering Taiz, Yemen’s third-largest city, and its southern and western rural areas. It is the only route for residents seeking to travel abroad, with no commercial flights operating from Houthi-controlled areas.

The Houthis have kept up pressure on government forces as they seek to consolidate gains made nearly two weeks ago, when their offensive along Yemen’s western coast brought them to the shores of the Red Sea’s strategic Bab el-Mandeb waterway.

Flare-up in Yemen’s civil war broadens Middle East conflict

Seizing parts of the Taiz-Aden road could allow the Houthis to tighten their grip around Taiz and deal another blow to the government, which has struggled to regain the initiative since losing the western coast.

The latest fighting marks a sharp escalation in Yemen’s civil war, which had largely been frozen since a 2022 truce. The Houthis seized the capital Sanaa in 2014, prompting a Saudi-led military intervention the following year in support of the internationally recognized government.

Fighting has flared along several old front lines in recent weeks, including around Taiz, as the Houthis swept south along Yemen’s Red Sea coast.

The group seized the port of Mocha before taking the remaining Red Sea coastline and islands, extending its control to the Bab el-Mandeb Strait at the mouth of the Red Sea.

Bab el-Mandeb is one of the world’s most important maritime chokepoints, connecting the Red Sea to the Gulf of Aden and forming a key artery for trade between Asia and Europe via the Suez Canal.

About 7% of global oil output passed through the strait in June, according to Kpler data cited by Reuters.

The Houthi advance along the Red Sea coast also threatens a key alternative route used by Saudi Arabia to export oil when shipments through the Strait of Hormuz are disrupted.

More than 700 people have been killed and thousands wounded in the latest fighting, according to the United Nations. Nearly 130,000 Yemenis have been displaced within the country, while more than 3,000 have fled by boat across the Red Sea to Africa.

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The Kremlin said on Thursday that it viewed the European Union’s decision to transfer revenue from frozen Russian assets to Ukraine as illegal and a form of theft.

In August, the European Commission said the bloc would give Kyiv $1.6 billion, taken from interest on cash balances, part of Russian central bank assets frozen by the EU because of the war in Ukraine.

This is a developing story.

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Russia has extended an official invitation to North Korean leader Kim Jong Un to visit the country, a deputy foreign minister said Thursday, according to the TASS state news agency.

Moscow and Pyongyang have drawn markedly closer in recent years, with North Korea sending troops to fight alongside Russian forces in Ukraine in 2024 and deepening military cooperation under a mutual defense pact.

This is a developing story.

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American businesses operating in China are urging Washington and Beijing to keep their fragile trade peace intact, warning that another tariff escalation could raise costs for companies and consumers just as the world’s two largest economies try to negotiate a broader agreement.

Sean Stein, president of the U.S.-China Business Council, described extending the trade truce as “absolutely necessary” as President Donald Trump and Chinese President Xi Jinping meet in Washington this week.

The warning comes after Treasury Secretary Scott Bessent said the United States and China agreed Wednesday to extend their existing trade arrangement by two months, moving its expiration from Nov. 10 to Jan. 10, 2027.

The extension prevents the current arrangement from expiring while negotiators explore whether the two governments can reach a larger economic agreement.

For American businesses, the immediate benefit is not simply lower tariffs. It is more time and greater predictability.

Why Businesses Want the Truce

Tariffs function as taxes on imported goods, generally collected from U.S. importers when products enter the country.

Companies can absorb those additional expenses, pressure suppliers to reduce prices, change where they source products or pass some of the cost to customers.

That means another escalation in U.S.-China tariffs could affect businesses and households through everything from manufacturing inputs and electronics to consumer goods.

The U.S.-China Business Council represents American companies doing business with China. Its latest annual survey found that strained U.S.-China relations, weakness in China’s economy and persistent tariffs were among the biggest challenges facing its members.

Stein said when the survey was released in June that despite those difficulties, competing in China remains important for many American multinational companies.

The concern is particularly acute because businesses have already seen how quickly the trade relationship can deteriorate.

During the 2025 escalation, tariffs imposed by Washington and Beijing reached triple-digit levels before the two governments stepped back and began a series of temporary arrangements.

The current Busan agreement significantly reduced those tensions and helped restore trade in critical minerals and other products.

Only Two More Months

The latest extension is relatively short.

Bessent said Wednesday that he and Chinese Vice Premier He Lifeng still had “unfinished business” following earlier negotiations and met again in Washington as Xi arrived for his state visit.

The Treasury secretary said the governments were examining whether they could pursue a broader agreement rather than continue resolving issues individually.

“I don’t know whether a bigger deal can be done,” Bessent said in an interview Wednesday while discussing the negotiations.

The two-month extension gives negotiators additional time without locking either government into a long-term arrangement.

It also keeps pressure on both sides.

Washington has been pushing Beijing to fully implement commitments involving rare earths and purchases of American agricultural products. Earlier this year, Bessent said the U.S. expected China to fully meet its commitments involving rare earths and U.S. farm products.

Rare earth minerals are especially important because they are used in products ranging from electric vehicles and electronics to advanced industrial and defense equipment.

Interruptions can therefore spread quickly through manufacturing supply chains.

What It Means for American Companies

For businesses, uncertainty itself carries a cost.

Companies deciding where to manufacture products, how much inventory to purchase or whether to make a multimillion-dollar investment may be reluctant to commit when tariff rates could change dramatically within months.

Importers also have to decide whether to stockpile goods before possible tariff increases, shift production elsewhere or accept the risk that products already ordered could become more expensive.

That uncertainty can ultimately influence prices, investment and hiring.

The U.S.-China Business Council’s 2026 survey underscores the problem. The organization said fragile bilateral relations and entrenched tariffs remain significant obstacles for American companies, even though China continues to be an important market for many multinational businesses.

Xi Arrives in Washington

The trade negotiations are unfolding alongside one of the most significant diplomatic meetings between Washington and Beijing in years.

Xi arrived in Washington Wednesday for a state visit, with Trump personally greeting the Chinese leader at Joint Base Andrews.

The White House scheduled an official state arrival ceremony Thursday, followed by meetings between the two leaders and a state dinner.

It is Xi’s first White House state visit in more than a decade.

Trade is only one part of a much larger agenda.

The governments are also confronting disagreements involving artificial intelligence, critical minerals, Taiwan, Iran and access to advanced technology. Despite those tensions, both governments have shown an interest in preventing their economic relationship from sliding back into the tariff confrontation seen previously.

What Comes Next

The most important question for businesses is whether the additional two months produce something more permanent.

A broader agreement could address tariffs, Chinese purchases of American agricultural products, access to critical minerals and other longstanding economic disputes.

Failure to make progress would bring the same uncertainty back quickly.

The new Jan. 10 deadline means companies will enter 2027 watching Washington and Beijing closely, knowing another breakdown could once again alter supply chains, import costs and investment decisions.

For American companies doing business across the Pacific, the temporary truce provides breathing room.

What they still do not have is certainty.

JBizNews Desk | Washington

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  • In today’s CEO Daily: Can AI make health care better—and cheaper?
  • The big leadership story: Travis Kalanick’s return to Silicon Valley
  • The markets: Surging Treasury yields spark a selloff.
  • Plus: All the news and watercooler chat from Fortune.

Good morning. Earlier this week, I got an AI-powered physical exam that frankly wowed me, from a scan that mapped my skin and body composition to heart, blood, and metabolic health tests. A physician walked me through the results a few minutes later while standing in front of my 3D image in a room more reminiscent of “2001: A Space Odyssey” than my doctor’s office. Neko Health, a Swedish health care and technology company founded by Spotify’s Daniel Ek and CEO Hjalmar Nilsonne, opened its first U.S. clinic in Manhattan yesterday, offering this package for $499. It was the kind of health care experience I’ve always wanted and rarely received: fast, simple, and proactive. “We want to create this almost magical consumer experience around health care,” Nilsonne told me. “We want to democratize high-quality preventive health care and make it available to millions or hundreds of millions of people.”

There’s a lot of discussion about health right now: the health of the planet, the health of our economies, and, of course, the health of our own bodies. We are living longer at a time when health care is getting more expensive, jobs are becoming less secure and much of the developed world is bracing for a ‘silver tsunami’ as aging populations impact everything from tax revenue to consumer behavior. The Trump administration announced plans this week to remove 760,000 Affordable Care Act enrollees from public health care exchanges as part of a crackdown on fraud. The problems are profound, but I’m also struck by the promise of what’s happening right now, via AI and beyond:

The desire to disrupt. There are now thousands of AI-powered health care startups and plenty of disruption within the system, too. AI is saving at least 132 hours annually for half of the health care professionals surveyed in the 2026 Philips Future Health Index. They report seeing more patients and making fewer mistakes. But the most critical disruption for many Americans is cost. I spoke with Mark Cuban at the Digital Health New York Summit last week about how he’s disrupting pharmacy benefit managers (PBMs) with Cost Plus Drugs. Launched in early 2022, the direct-to-patient pharmacy business has expanded to manufacturing, where, Cuban says, volume has increased enough to lower the price of 190 medications. He said the company is making money, thanks in part to demand generated by TrumpRx, but that’s not the goal. “My mission is just to fuck up health care,” he said. “Trying to optimize a broken system doesn’t really change anything.”

The desire to live better. Bryan Johnson might want to live forever—and this 55-year-old single mother is aging at a slower pace—but most of us just want to be healthier in the time that we’re here. Is America getting healthier? When it comes to obesity and death from cancer, yes. When it comes to managing stress and the ability to afford health care, no. So it matters that companies like Walmart are trying to put more emphasis on nutrition and initiatives like its Health Ambassador pilot to make health care more accessible. Most important, though, is our growing understanding of the systemic nature of health. I spoke this week with Frederick Lowery, who became CEO of Henry Schein in March. As leader of the world’s largest distributor of dental equipment, supplies, and services, he’s eager to explore the links between oral health and a range of chronic ailments.

The desire to engage. Large U.S. employers expect a median 9.2% increase in health care costs next year, according to the nonprofit Business Group on Health. About half expect to push those costs onto workers, a record number of whom are already disengaged. But Whole Foods CEO Jason Buechel, who also oversees all of Amazon grocery, has a different approach. He came in earlier this week to talk about how the company is investing in organic foods and in workers through higher pay, apprenticeship programs, and cheap health care. There’s been a lot of attention to the decision to raise the hourly pay of 100,000 workers to $21 an hour. But Buechel hopes the introduction of low-cost health care and apprenticeship programs could turn what is typically a high-turnover job into a compelling career. I suspect one reason Amazon can do that is that it’s also creating AI-powered health care offerings for consumers. While health care spending is expected to hit $6 trillion this year, the opportunities to create cheaper and better solutions may grow faster.

Contact CEO Daily via Diane Brady at diane.brady@fortune.com

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Good morning. On Fortune’s radar today:

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As AI reduces the amount of expertise needed to conduct cyberattacks, it is widening the number of companies that might make tempting targets. 

That’s one implication of a number of findings from Anthropic’s most recent Threat Intelligence report published earlier this month. 

The report provided plenty of examples of the way powerful AI models are making cyberattacks almost trivially easy. In the past, the effort required to pull off a successful attack often meant that sophisticated hackers would choose to go after high-value targets. As the old saying goes, “why do robbers rob banks? Because that’s where the money is.”

But the rise of AI agents with genius-level cyber skills, all available at the push of a button, means that there is little cost in time and human effort to go after less obvious targets. Anthropic says this may mean many more companies will be attacked.

The company said it had found attackers using Claude to navigate corporate systems they barely understood, identify valuable data and write code to exploit vulnerabilities, the report said.

In one case, an attacker with a stolen developer token took full administrative control of a company’s cloud environment in roughly three hours, the report said.

A separate intrusion shows how far that work can carry an attacker. After breaching a software provider, attackers Anthropic described as suspected affiliates of “ShinyHunters” (which also recently claimed credit for a major data breach against the FBI) extracted data belonging to roughly 200 of its customers. Anthropic said AI agents performed nearly all the work.

The 154-page report covers activity Anthropic disrupted from December 2025 through August 2026. Alongside cyberattacks, it examines government surveillance, fraud, influence operations, weapons development, biological research, and unauthorized model distillation. 

From stolen credentials to stolen data

During the software-provider intrusion, attackers extracted more than 2,100 sets of Azure AD authentication tokens across more than 40 corporate cloud environments, in about 34 hours. Such tokens can let attackers access cloud services as legitimate users without knowing their passwords. 

The hackers supplied broad objectives and let Claude write and run scripts. If an approach failed, they instructed Claude to keep trying other tactics until one succeeded. Anthropic calls this “vibe hacking.” A way of running automated attacks that it described in a suspected state-backed campaign last November now appears across every type of cyber attacker it investigated. Attackers can download software that coordinates AI agents through different stages of an intrusion, the company said.

For example, a Russian-speaking attacker with a history of targeting hotel-booking and financial-technology platforms stole roughly 26 GB of data from one victim and sought $1.5 million to $2.5 million through extortion or dark-web sales, Anthropic said. The report describes the actor using parallel AI agents to investigate targets and test ways in. A later campaign from the same infrastructure targeted roughly 30 AI companies in about four days.

Meanwhile, in a campaign Anthropic linked to Russian espionage, agents monitored whether security products detected the operators’ malware. When malware was flagged, agents modified and rebuilt it in a workflow designed to keep iterating until it could successfully evade the security software. 

Scammers are also supercharged

For scammers, AI has also become a vital tool to allow them to carry out highly targeted scams on a massive scale. A China-based app studio used Claude to operate more than 4,700 personas across a network of dating apps, conversing with at least 25,000 people over two weeks in April. Real gig workers handled tasks such as live video calls and social-media follows that helped persuade users the service was authentic. Users paid for messaging and matching through in-app coins.

This ability to catfish people at unprecedented scale also shows how con artists no longer have to be as selective in which victims they select, since there is minimal cost in running a highly individualized scam. 

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IDF reservist Neria Leiter, an American citizen and son of Ambassador to the US Yechiel Leiter, was seriously wounded in a car-ramming terrorist attack at Maccabim (Bell) checkpoint on Route 443 near Modi’in-Maccabim-Re’ut on Wednesday.

In 2023, one of Leiter’s other sons, Maj. (res.) Moshe Yedidya, was killed in Gaza. He was a company commander in the 551st Brigade’s 697th Battalion.

Neria Leiter is currently in serious condition and is being treated at Shaare Zedek Medical Center in Jerusalem. In a Wednesday night statement, the hospital announced that Neria had undergone a multi-hour brain surgery, alongside other treatments, and that “his condition remains very serious, and his life is in danger.” 

Prime Minister Benjamin Netanyahu visited Neria Leiter’s family at the hospital before leaving for the United Nations General Assembly (UNGA). At the same time, Yechiel Leiter is returning to Israel from the United States. He will not join Netanyahu at the UNGA on Thursday.

“I am grateful to the IDF, to the medical team at Shaare Zedek who are now fighting to save the life of Neria Dov ben Chana, and for the prayers of the people of Israel,” Leiter wrote on X/Twitter on Wednesday. “I believe in the power of prayer, and I believe that when the people of Israel unite, miracles happen. Neria needs a miracle.”

“Neria continued to serve in the reserves after losing his older brother, Moshe Yedidya Leiter, of blessed memory. Since October 7, he has served hundreds of days in the reserves on multiple fronts.

“Palestinian terrorism seeks to uproot the people of Israel from their land. They choose death – we choose life,” Leiter said.

In a post on X, Netanyahu said he and his wife, Sara, “together with all the people of Israel, are praying for a miracle. Yechiel, my dear, we are all with you.”

US Ambassador to Israel Mike Huckabee said that he is standing with Leiter and his family.

“Pray for Yechiel Leiter & entire family. They lost a son in Gaza, killed by Hamas. Now a Palestinian terrorist attempts to murder IDF soldiers at a checkpoint. Standing w/ Yechiel Leiter,” Huckabee wrote on X.

Yechiel, my dear friend, my heart is with you, Chana, and your entire family,” Israel’s Ambassador to the UN, Danny Danon, shared on X. “All of Israel is praying for your son, Neria Dov ben Chana, who was critically wounded in today’s heinous terrorist attack. May God heal him and give your family strength.”

Defense Minister Israel Katz sent his support to Leiter’s family and prayers for Neria’s speedy recovery.

“Yechiel, I stand with you and your family, and I pray alongside the entire nation of Israel for your son’s recovery,” Katz said. “I commend the heroic fighters who eliminated the terrorist. To the soldiers of the IDF and the security forces: I believe in you and trust you; we will not allow terror to rear its head.”

“Yechiel, you are a warrior, and your sons are warriors,” wrote Foreign Minister Gideon Sa’ar on X. “My heart and prayers are with you.”

President Isaac Herzog also offered a “prayer for the complete and speedy recovery of Neria Leiter, a reservist soldier who was run over today in a heinous terror attack at the Maccabim checkpoint.”

“Neria Leiter is the brother of Major Moshe Leiter, of blessed memory, a hero of Israel who fell at the beginning of the Swords of Iron War in Gaza,” Herzog wrote in an evening statement. “We send our wishes for a complete recovery to Neria, and strength to his wife and to his parents, Hannah and Yechiel Leiter, Israel’s Ambassador to the United States.”

“Neria is fighting for his life at this very hour, and we will pray for his recovery. We all stand with this dear family and send them our strength.”

Police Commissioner Daniel Levi, National Security Minister Itamar Ben-Gvir, Finance Minister Bezalel Smotrich, Economy and Industry Minister Nir Barkat, and Ofir Akunis, Israel’s consul general in New York, also offered Leiter their support. 

“We join all the residents of Samaria in praying for the victim’s recovery and offer our support to his family during this difficult time,” Samaria Regional Council head Yossi Dagan said. “The Council will assist the victim’s family, and together with the community, we will embrace and support them in every way possible. The entire nation of Israel is united in prayer for his recovery.”

“We must respond to murderous terrorism with a firm hand and restore deterrence. We send our support to the security forces on the front lines who are protecting the citizens of Israel.”

IDF troops kill 29-year-old terrorist 

The terrorist was killed by IDF troops who were at the scene as he attempted to flee. He has been identified as Muhammad Mahmoud Suleiman, 29, a resident of Beit Ur al-Tahta.

According to KAN News, Suleiman was very familiar with the area and carried out the attack on his own using a stolen Israeli license plate taken from a car that had been taken off the road several months ago. 

He is not known for prior security-related offenses, had not applied for a work permit within Israel, and was not supposed to be inside the Green Line, KAN reported, citing security officials. 

IDF and Shin Bet (Israel Security Agency) have reportedly questioned Suleiman’s family members as part of the ongoing investigation into the attack.

Israel Police stated that the terrorist had hit a police patrol vehicle belonging to the Judea and Samaria District. An officer and a soldier were inside the vehicle as part of a joint operation.

“United Hatzalah’s dispatch center sent us to the scene of a vehicular ramming attack near Bell checkpoint,” United Hatzalah paramedics Itzik Kara and Netanel Cohen said. “Assisted by IDF medical teams, we provided initial medical treatment at the scene, including respiratory support, the administration of life-saving medication, bandaging, and splinting to a man who was subsequently transported to the hospital in serious condition.”

Palestinian shot after reported car-ramming attack attempt near Hebron

Earlier on Wednesday, two Palestinians reportedly attempted to run over the owner of a farm in the Hebron Hills.

The farm owner began shooting at them in accordance with the “suspect arrest procedure,” wounding one of the individuals in the leg, according to reports.

IDF troops were deployed to the area, N12 News reported, adding that the incident is under review.

Avi Ashkenazi contributed to this report.

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In a recent interview I gave to the Lebanese journalist Maria Maalouf, I argued that the Quran can be read as a Zionist document. This claim caused quite a stir, yet it built a crucial bridge between Zionism and Islam, which is essential for establishing peace in our region.

On the most fundamental level, Zionism seeks to answer two questions: What is the land of the Jews, and to whom does the Land of Israel belong?

The Zionist answer, of course, is that the Jews belong to the Land of Israel, their historical home and motherland, and that the land belongs to them: not only by virtue of a religious promise, but also due to the historical right of an indigenous people to their homeland.

Although loud and aggressive voices create the impression of an absolute frontal clash between the Zionist vision and Islam, a reading of the Quran reveals a surprising agreement between Zionism and Islam on these two foundational issues.

The Quran itself recognizes the Children of Israel’s right to their land. It states explicitly, through the words of Moses (peace be upon him), who is recognized as a central and important prophet in Islam: “O my people, enter the Holy Land which Allah has assigned to you and do not turn back [from fighting in Allah’s cause] and [thus] become losers” (Surah Al-Ma’idah 5:21).

Likewise, the promise of the Children of Israel’s return to their land appears as a divine promise: “And we said after Pharaoh to the Children of Israel, ‘Dwell in the land, and when there comes the promise of the hereafter, we will bring you forth in [one] gathering’” (Surah Al-Isra 17:104).

What the Quran says about the connection between Jews and Zion

Thus, the Quran can be read as a text that confirms the first covenant and the Children of Israel’s right to the Land of Israel.

What is the place of the Children of Israel? The Quran agrees with Zionism that they must be in the Land of Israel.

To whom does the Land of Israel belong? The Quran answers in a verse directed at the Children of Israel: “The Holy Land which Allah has assigned to you.”

At the very least, the Quran makes it impossible to honestly claim that the Jewish connection to the Holy Land is foreign to Islam.

So on this issue too, there is an agreement between the Quran and Zionism. It is astonishing to see how Quranic commentators from extremist Islamic schools of thought evade these verses, despite their unequivocal nature.

We could sum up the matter here and determine that these verses alone are enough to establish a practical agreement between Zionism and Islam.

Fortunately, however, there are deeper layers for us to explore. For many, Zionism is perceived not merely as an agreement on the right of the Children of Israel to a national home in their historical land, but also as a general affinity or affection for Jews or Israel.

Paradoxically, today, Americans or Europeans who respect the Jews’ right to a national home or are perceived as friendly to Jews are negatively labeled as “Zionists,” usually by individuals identified as Islamists.

Yet the Quran does not settle for merely recognizing the Children of Israel; the Children of Israel are so central to the Quranic narrative that Surah 17 is traditionally known as both Al-Isra and Bani Isra’il.

When delving into a third question: How does the Quran relate to the Jews? A picture emerges that is significantly different from the one portrayed in the media.

The Quran does not reduce Jews to “infidels.” It recognizes them as “Ahl al-Kitab” (People of the Book) – a community possessing revealed scripture and sharing belief in the God of Abraham.

The Quran deals with the history of Moses (peace be upon him) and the Jewish people, not just the history of the Prophet Muhammad (peace be upon him), and defines an attitude of recognizing the Torah as a revelation from God, containing “guidance and light.”

The Quran tells of Jews who came to the Prophet Muhammad (peace be upon him) and asked him to judge between them. Regarding this, the Quran states: “But how is it that they come to you for judgment while they have the Torah, in which is the judgment of Allah?” (Surah Al-Ma’idah 5:43).

In the story of the birth and deeds of Moses (peace be upon him), the Quran notes that Allah chose to empower the oppressed people of Moses: “Indeed, Pharaoh exalted himself in the land and made its people into factions, oppressing a sector among them, slaughtering their [newborn] sons and keeping their females alive.

“Indeed, he was of the corrupters. And we wanted to confer favor upon those who were oppressed in the land, make them leaders, and make them inheritors. And establish them in the land and show Pharaoh and Haman and their soldiers through them that which they had feared” (Surah Al-Qasas 28:4-6).

But in my eyes, perhaps the most important quote that has eluded us in the Quran says: “And do not argue with the people of the scripture except in the best way, except those who commit injustice among them … We believe in what has been revealed to us and what was revealed to you. Our God and your God is one” (Surah Al-’Ankabut 29:46).

Just as in Judaism, the “Love your neighbor as yourself” notion provides a fundamental, one-legged basis for understanding the essence that allows Muslims to coexist alongside Jews, this verse provides a one-legged basis that can allow Jews to coexist alongside Muslims with dignity (if only everyone acted according to these verses).

Beyond the Quran

 THE QURAN (credit: FLASH90)

In these verses and many others, the Quran lays a clear foundation for accepting the Children of Israel in general and their return to their land in particular.

But beyond the religious significance and the quoting of important verses, how can we build a shared vision in which all the peoples of the Middle East can take part?

An initial answer to this question has emerged in recent months in Sweida and Khan Yunis. Israel is protecting the Syrian Druze in Sweida from jihadist attacks – a military defense that carries a diplomatic price.

It is the exact same type of backing that would be given to a Jewish Diaspora community located outside Israel’s borders, and it is happening even though the Druze in Syria were historically considered loyal to the Assad regime and were not friendly to Israel.

This path is in its infancy, and many challenges still lie ahead. Still, from a historical perspective, this is a moment that expands Zionism beyond the Jewish people and places the Druze on the table as full partners of the State of Israel – even when they are not its citizens.

This partnership is not limited to the Druze. In an anti-Hamas enclave east of Khan Yunis in Gaza, another experiment is beginning to take shape. Palestinian clans and local organizations that oppose Hamas and choose a vision willing to include Israel as a legitimate and friendly state are receiving Israeli backing.

This allows them to provide their people with security, and even education and a network of social services amidst the madness of Gaza.

The message radiating from these activities to the region is that the door is open, and Israel’s umbrella is not limited to Jews alone. It can expand to encompass partners in this vision. For many, this is a novel idea that could lead to a rethinking of the current paradigm.

However, Zionism is not only the question of a national home for the Jewish people, and in 2026, it is not merely the aerial cover of the IDF.

It is a proven blueprint, the only one of its kind in the world, for the national revival of a refugee people, exiled from its land, who returned and within less than a century lifted themselves from the brink of annihilation to become a hi-tech and agricultural superpower blooming in the desert.

Against the backdrop of the region’s challenges, Moses (peace be upon him) is relevant not only to the future of the Jewish people’s relations with its neighbors, but so are Theodor Herzl and David Ben-Gurion. Many are reading Herzl’s writings in the Middle East in recent years, from Damascus to Tehran, and asking themselves – what can we learn from this?

Thus, one can identify today more and more people in the Middle Eastern public sphere who define themselves as Muslim Zionists, Lebanese Zionists, Iranian Zionists, Alawite Zionists, Kurdish Zionists, and other new formations we have never seen before.

When they testify about themselves as being “Zionists,” they often do not mean solely that they support Israel’s right to exist, based on confirming Quranic verses or for other reasons.

They mean the vision they share with Zionism and the inspiration they draw from it as a doctrine for rebuilding a nation.

They relate to the sense of mission of a people stepping up to build its future; to groundbreaking leadership like that of Ben-Gurion, who set out to make the desert bloom; to a vision like Herzl’s, looking a thousand years into the future; to the way emissaries moved between communities with a new idea, how communities mobilized, and how mechanisms were established overnight to rebuild a shattered nation.

The idea currently passing the test in Sweida and Khan Yunis is that Israel can provide security for its partners.

The greater test will arrive in the near future: Can the Zionist idea provide the necessary blueprint for rebuilding Sweida and Khan Yunis according to the Israeli model, as free (though not necessarily independent) societies, tolerant in nature, and advancing toward prosperity?

If Zionism can pass this test, it will transform from a national idea belonging to a specific nation into an idea of shared national revival and development, capable of taking many peoples under its wings.

The writer is the author of the book The Abrahamic Revolution and is the CEO and co-founder of the Abrahamic Movement.

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Prime Minister Benjamin Netanyahu is set to arrive in New York on Thursday for an unusually brief visit centered on his address to the UN General Assembly, with plans to spend only about six hours on US soil before returning to Israel that same evening.

Netanyahu is expected to land at a military airfield in New Jersey, travel to Manhattan, address the General Assembly, and then head back to Israel. His meeting schedule will also be unusually limited compared with previous UN visits. Netanyahu will not meet US President Donald Trump or Secretary of State Marco Rubio.

The Prime Minister’s Office said Netanyahu’s meetings would include the presidents of Argentina, Bolivia, Paraguay, Panama, and Ethiopia; the vice president of Colombia; and the prime ministers of Greece, Slovenia, and Papua New Guinea.

Netanyahu’s speech is expected to begin at around 2 p.m. New York time, or 9 p.m. Israel time, and he will be the second-to-last speaker in the morning session. Only a few hours will separate his landing from his appearance at the podium.

The drive from the military airfield in New Jersey to the UN headquarters could take about two hours. Under the current plan, shortly after arriving in the US, Netanyahu will head to the UN building. After his speech, he will leave for the airport.

The brief visit also reflects concerns about security incidents and protests expected to accompany Netanyahu’s arrival in New York, according to officials familiar with the preparations. Pro-Palestinian demonstrators and Israeli protest activists are expected to gather, while Jewish groups are also preparing demonstrations in support of Netanyahu.

Netanyahu will also not take Israeli journalists aboard the Wing of Zion aircraft on this trip.

Ahead of his departure, Netanyahu addressed his expected speech.

“You hear the terrible lies being spread there; I will fight for the truth,” he said. “There will also be surprises.”

UNGA speech expected to focus on Iranian threat, include visual aids

Iran is expected to be at the center of the speech, which is set to last about 40 minutes, an unusually long address for the General Assembly. Netanyahu is expected to discuss Iran’s efforts to rebuild its nuclear program and missile capabilities and, according to officials familiar with the preparations for the speech, present new information about Iran and its reconstruction efforts.

His team is also preparing visual aids relating to the Iranian threat, continuing a tradition from Netanyahu’s previous UN speeches, most notably his 2012 “bomb” speech.

Netanyahu is expected to go a step further this time and explicitly address the possibility of the regime in Tehran falling.

His remarks come against the backdrop of intelligence assessments in Israel and the US according to which continued economic pressure, sanctions and damage to the Islamic Revolutionary Guard Corps’ sources of funding could undermine the regime’s stability.

Netanyahu is also expected to address the Iranian people directly. The speech is expected to include messages directed at Lebanon and additional Arab countries, as well as references to international criticism of Israel, the International Criminal Court in The Hague, and New York City Mayor Zohran Mamdani.

Netanyahu will deliver his speech as New York serves as the scene of intensive diplomatic contacts surrounding Iran.

The Trump administration has signaled that the possibility of a diplomatic channel with Tehran remains on the table, while the US president has held talks in the city with leaders and representatives from Gulf states on Iran and the future of the regional campaign.

Belgium's Minister of Foreign Affairs Maxime Prevot addresses the 81st United Nations General Assembly at UN headquarters in New York City, US, September 22, 2026.  (credit: Eduardo Munoz/Reuters)

Those contacts will form the backdrop to the forceful messages Netanyahu is expected to deliver from the UN podium.

Netanyahu’s meeting schedule during the current visit is far more limited than during his previous trips to the General Assembly.

Several plans considered ahead of the trip have already been dropped. Netanyahu will not continue to Texas for a visit to SpaceX, and a possible meeting with Elon Musk, which was discussed during earlier stages of planning, will also not take place.

Behind the scenes, officials tried to arrange meetings for the prime minister with officials from Gulf states, but as of Wednesday night, those efforts had not come to fruition.

Netanyahu not expected to hold diplomatic meetings during US visit

According to the current schedule, Netanyahu is expected to hold almost no diplomatic meetings during the few hours he spends in the US.

This marks a significant change from Netanyahu’s previous visits to the General Assembly.

Over the years, UN week has also served as an opportunity for him to hold a marathon of meetings with US presidents, European leaders, Arab heads of state, and leaders from Asia, Africa, and South America.

In September 2023, just weeks before October 7, Netanyahu met in New York with then-US president Joe Biden, Turkish President Recep Tayyip Erdogan, Ukrainian President Volodymyr Zelensky, and then-German chancellor Olaf Scholz, among others.

His subsequent visits also included diplomatic meetings alongside his UN speech. The current schedule looks markedly different.

The atmosphere awaiting Netanyahu inside the UN building is also expected to be tense.

He will take the podium after a series of speeches containing sharp criticism of Israeli policy. Last year, his speech was accompanied by a mass walkout by representatives, while many delegations were absent or left the hall during his address.

Alongside the content of the speech, attention will also be focused on events inside the hall and which delegations remain present while Netanyahu speaks.

From the UN podium, Netanyahu is expected to respond to international criticism of Israel, devote a substantial portion of his remarks to Iran, and reveal the “surprises” he hinted at before departing for the US.

Jerusalem Post Staff contributed to this report.

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The alleged marriage of a three-year-old girl to a 60-year-old man for 2.5 million Pakistani rupees, around $9,000, has drawn attention to child marriage and the traditional practice of walwar in Pakistan’s southwestern province of Balochistan.

Police in the border city of Chaman arrested the girl’s father, Abdul Baqi, after the case surfaced on social media. The 60-year-old man, identified as Salah Uddin, remains at large.

Walwar is a Pashto term for money paid by a groom or his family to the family of a bride.

At the time police intervened, the alleged marriage existed only on paper because the full walwar payment had not been made. According to The Media Line’s reporting, once the agreed amount was paid, the arrangement would have taken effect, and the 3-year-old would have been regarded as Salah Uddin’s wife.

That did not necessarily mean she would immediately have begun living with him. But she could have remained bound to the arrangement for years if payment was delayed. If her family later attempted to arrange a different marriage after she reached adulthood, the unresolved agreement could have triggered a serious dispute between the families, potentially including violence.

Balochistan case draws widespread outrage

The case drew widespread attention online, prompting Balochistan Chief Minister Mir Sarfraz Bugti to direct authorities to investigate. Police acted after the allegations became public rather than waiting for a formal complaint from a relative.

Israr Ahmed Umrani, assistant inspector general of Balochistan Police for gender issues, told The Media Line that police arrested the girl’s father after receiving information about the case and were pursuing the man identified as her alleged husband.

Umrani said the investigation was continuing and that authorities firmly opposed child marriage.

Chaman Police Subdivisional Police Officer Abdul Jabbar Khan told The Media Line that “a case had been registered on behalf of the State in connection with the incident. Police are looking for the 60-year-old suspect who absconded.”

Khan said the 3-year-old girl, Babbo, and her mother had been placed under police protection.

Asked how many walwar-related cases were currently registered with his police unit, Khan said this was the only one.

The investigation has also become linked to the killing of the girl’s older sister, Shukria Bibi, about two weeks earlier in Kuchlak, on the outskirts of Quetta.

Dispute may have led to murder of child

According to Khan, police allege that Baqi had previously arranged Shukria’s marriage, when she was 13, to Kamran, Salah Uddin’s son, in exchange for a walwar payment of 1.5 million rupees.

Months later, Khan said, Baqi allegedly arranged for his 3-year-old daughter to marry Salah Uddin for 2.5 million rupees. Police say Salah Uddin subsequently demanded that Baqi send his 8-year-old daughter instead.

Khan said a dispute between the families followed, and police were investigating whether it was connected to Shukria’s killing.

Quetta police arrested Shukria’s husband, Kamran, on suspicion of killing her. Police say Kamran told investigators that he became enraged after his wife looked outside through a doorway, then struck her with an iron rod, killing her.

In a Pashto-language interview with a local vlogger before his arrest, Baqi said he had arranged Shukria’s marriage for 1.5 million Pakistani rupees in walwar.

He alleged that she was subjected to violence after the marriage and that her father-in-law, Salah Uddin, repeatedly pressured him to arrange the marriage of another minor daughter.

Baqi said he eventually agreed to marry his 3-year-old daughter to Salah Uddin for 2.5 million rupees, saying poverty and his desire to obtain a home had influenced his decision.

Balochistan law prohibits child marriage. The Balochistan Child Marriages Restraint Act, 2025, sets the minimum marriage age at 18 and makes it a criminal offense for an adult man to enter into a child marriage.

An adult man convicted under the law can face two to three years of rigorous imprisonment and a fine of 100,000 to 200,000 Pakistani rupees. Similar penalties can apply to those who perform, conduct, direct, promote or assist such a marriage.

Police can investigate cases and make arrests without a warrant, and such cases cannot be ended through a private settlement between the parties.

Child marriage remains a substantial problem across Pakistan despite a long-term decline. The Pakistan Demographic and Health Survey for 2017-18, the most recent national survey used for the country’s child-marriage prevalence estimate, found that 18.3% of women ages 20 to 24 had been married by age 18 and 3.6% by age 15. UNICEF’s Child Marriage Data Portal estimates that about 20.5 million girls and women living in Pakistan were married before age 18, including about 5 million who were married before 15.

The figures also show wide differences by geography, wealth and education. UNICEF’s latest available subnational data, from 2018, put the prevalence of marriage before 18 among young women in Balochistan at 21.6%, compared with 18.3% nationally. Across Pakistan, the rate was 21.6% in rural areas and 12.5% in urban areas. It reached 34.1% among the poorest households, compared with 7.3% among the richest, and 33.7% among women with no schooling, compared with 7.5% among those with secondary education or higher.

Yet the existence of laws against child marriage does not mean authorities learn about every case.

There are no reliable province-wide figures showing how widespread walwar remains across Balochistan or how often it involves minors. Interviews conducted for this report indicate that the practice persists mainly in remote, predominantly tribal communities, particularly along or near the Pakistan-Afghanistan border, while becoming less common in cities.

Families may never report such arrangements to police or other state institutions, making the practice difficult to measure.

Enforcement can also run up against a social order in which tribal norms and customary authority strongly influence family decisions. In some remote communities, those traditions can carry greater practical weight in daily life than formal law or religious principles, allowing illegal marriages to be arranged beyond the immediate reach of the state.

Authorities have not publicly specified which provisions of the 2025 law, or any other statutes, have been invoked against Baqi or Salah Uddin.

Critics say walwar becomes especially problematic when the payment is treated primarily as income for the bride’s family, leaving girls with little or no say in marriages arranged on their behalf. They say it can contribute to forced marriages and large age disparities between brides and grooms.

Allauddin Khilji, resident director of the Aurat Foundation in Balochistan, a civil society organization focused on women’s rights and violence against women and girls, said the case appeared to be closely connected to walwar.

Khilji described the practice as a serious problem in tribal society and said disputes surrounding it could contribute to domestic violence and, in some cases, killings.

Balochistan has not enacted legislation specifically prohibiting walwar itself, Khilji said, though child marriages resulting from such arrangements can be prosecuted under the province’s 2025 child marriage law.

He said one obstacle to legislation targeting walwar was the difficulty of challenging deeply rooted tribal traditions and winning support in the provincial assembly, where many members come from influential tribal families.

Khilji cautioned against treating walwar as representative of Pashtun or Baloch culture as a whole, saying the focus should instead be on practices that contribute to coercion, exploitation and child marriage.

Imran Takkar, a child rights activist based in Peshawar, told The Media Line that “such insane marriages” deprive children of fundamental rights to education, protection, recreation and a safe childhood.

Takkar said such cases were not simply social issues but serious child-rights concerns that could violate child-protection laws and Pakistan’s obligations under the UN Convention on the Rights of the Child, which Pakistan ratified in 1990.

He called for nationwide awareness campaigns drawing on religious teachings, Pakistan’s Constitution, existing laws and the country’s international human-rights commitments, as well as better training and coordination among officials and organizations responsible for child protection, justice and accountability.

Hazar Khan Baluch, a Quetta-based political observer, told The Media Line that “the practice persists because of widespread poverty, limited income opportunities and unemployment, which can leave families financially dependent on receiving walwar.”

But Baluch said money was not the only factor.

Social pressure can encourage families to seek such payments, he said, with some fearing criticism or loss of status if they marry their daughters without receiving walwar. In some communities, large payments can also become a source of prestige.

Family authority and customary expectations can reinforce the practice even when financial need is not the sole consideration.

Opposition to walwar exists, Baluch said, and some families that have moved to urban areas have abandoned it. He called for greater access to education and sustained public awareness campaigns to reduce practices that can leave girls vulnerable to coercion and abuse.

The Media Line also spoke with Islamic cleric Hafiz Iqbal Muhammed about whether walwar and the marriage of young girls have a religious basis.

He said that “Islamic teachings do not prescribe walwar or any similar bride-price customs, as these practices hold no basis in the core principles governing Islamic marriage.”

Muhammed said marriage in Islam is based on mutual consent and that cultural customs cannot override rights granted under Islamic teachings.

“Islamic law fundamentally recognizes a woman’s right to consent to marriage and strictly forbids forcing her into a union against her will,” he said.

Muhammed said customs followed in the name of tradition should not be confused with religious requirements.

This post was originally published on here. 

Hamas has announced that it is prepared to implement the Board of Peace’s roadmap for Gaza’s future on Thursday, claiming that the obstruction comes entirely from Israel.

Hamas spokesperson Hazem Qassem accused Israel of escalating aggression against Gazans, claiming that the Board of Peace and its director-general, Nickolay Mladenov, were unable to stop the government from refusing to abide by the agreement.

All parties, Qassem said, must work to “facilitate the entry of the technocrats committee into the Gaza Strip so it can carry out its duties toward the people there, and to proceed with the deployment of international forces, in accordance with the ceasefire agreement and its roadmap.”

This is a developing story.

This post was originally published on here. 

Ambassador to the US Yechiel Leiter, whose son Neria was seriously wounded during a car-ramming terror attack on Wednesday, said that his son’s life was still in danger during a Thursday press conference outside the hospital where he was being treated.

“His life is still in danger,” Leiter said. “This experience is different from the night when I received the knock on the door, when my eldest son fell in combat. He died instantly, and there was no possibility of bringing him to a hospital and allowing Israel’s doctors to save his life. There was also no possibility for us to gather around his bedside, recite Psalms, and rally the people of Israel to pray for his recovery.”

He said that he had feared that he would land in Israel without any hope, but was heartened to hear that Neria’s condition had stabilized, adding a request that the public continue praying for his recovery.

His daughter, Leiter added, had given birth the day before after visiting her brother, and was in the same hospital as Neria, only 40 meters away.

“On a personal and more public note, I received the news in New York yesterday, immediately after an interview in which I was asked about the violence in Judea and Samaria,” he also added.

Shaare Zedek Medical Center said that Neria’s condition was stable after several examinations and surgeries, but that his condition was still defined as serious, and his life remains in danger.

Neria seriously wounded in car-ramming three years after his brother killed in Gaza

Neria, an IDF reservist, was seriously wounded in a car-ramming terrorist attack at Maccabim (Bell) checkpoint on Route 443 near Modi’in-Maccabim-Re’ut.

In 2023, one of Leiter’s other sons, Maj. (res.) Moshe Yedidya, was killed in Gaza. He was a company commander in the 551st Brigade’s 697th Battalion.

Miriam Sela-Eitam and Maariv contributed to this report.

This post was originally published on here. 

The Foreign Ministry on Thursday urged Israelis in Ecuador to exercise increased caution after authorities in the South American country declared a nationwide red alert over the developing El Niño weather phenomenon.

Ecuador’s National Secretariat for Risk Management declared the red alert across the country on August 29, ordering provincial and local emergency committees to strengthen preparations and response measures. Ecuadorian authorities have said the alert is intended to accelerate preparedness and does not mean that severe rainfall will immediately affect every part of the country.

El Niño is a climate phenomenon caused by unusually warm surface waters in the central and eastern tropical Pacific Ocean. The warming alters rainfall, temperature, and wind patterns and can produce sharply different conditions across affected regions.

In Ecuador, the phenomenon could bring heavy rain, flooding, rising river levels, and landslides in some areas, while other parts of the country could face unusually dry, hot conditions. Ecuador’s official El Niño monitoring portal currently lists the country at red-alert level, while the latest available technical bulletin said the phenomenon was in its initial stage of development. 

Foreign Ministry warns Israelis in Ecuador to avoid travelling to areas in danger of flooding

The Foreign Ministry advised Israelis in Ecuador to follow instructions from local authorities and avoid traveling through areas vulnerable to flooding, landslides, or strong water flows.

Travelers were specifically warned not to cross rivers, streams, or flooded roads, even when the water appears shallow.

The warning comes as governments and emergency agencies prepare for the wider effects of a strengthening El Niño weather pattern. The phenomenon has been associated with increased risks of extreme rainfall and flooding in parts of the Americas, while contributing to hotter and drier conditions elsewhere.

Earlier in September, Israeli authorities also conducted drills to prepare for the possible effects of a particularly strong El Niño event, including scenarios involving floods, strong winds, infrastructure disruption, and interruptions to electricity and water supplies.

The World Meteorological Organization has warned that strong El Niño conditions could increase the risk of extreme weather around the world, while climate models have pointed to potentially significant effects during the second half of 2026 and into 2027. 

In an emergency, travelers in Ecuador can contact the local emergency service by dialing 911.

The emergency line of the Israeli Embassy in Quito is *+593-2-397-1500*, a number also listed by the embassy as its emergency contact.

Israelis can also contact the Foreign Ministry Situation Center at *02-530-3155* or by fax at *02-530-3896*. The ministry has previously published the same Situation Center telephone and fax numbers in its guidance for Israelis in Ecuador. 

This post was originally published on here. 

Prime Minister Benjamin Netanyahu’s circle is concerned that Ofer Winter could join forces with Avigdor Liberman after the election, and for now the Likud’s approach toward him remains unchanged, according to officials familiar with the party’s campaign strategy.

Officials seeking to change the policy toward Winter reject that assessment, pointing out that polls count him as part of the Netanyahu bloc and that he has not distanced himself from it.

There is also no need to make an immediate decision regarding a surplus-vote agreement. The deadline for notifying the Central Elections Committee of such an agreement is October 16, 11 days before the election.

As long as Likud continues trying to persuade Winter to withdraw, an agreement with him is not on the table. The party could still change its policy toward him through October 16.

A party official estimated that upcoming polls showing Winter winning six seats could change the internal debate in Likud and make it more difficult to maintain the assumption that pressure could force him to withdraw.

Likud leans on increasing party voter turnout

Likud also believes that increasing turnout among party supporters could significantly strengthen its position. Campaign officials are also concerned about the possibility that Winter will remain in the race until the end, come close to the electoral threshold but fail to cross it, causing votes equivalent to several Knesset seats to go to waste.

According to an official familiar with the campaign’s work, that concern emerges from internal polls conducted by Shlomo Filber and presented to Netanyahu and his circle.

Officials familiar with the election campaign said Likud had identified areas where the party received strong support in the previous election, but overall voter turnout was low. As an example, they cited polling stations where Likud received about 50% of the vote while overall turnout stood at roughly 35%.

Campaign officials believe that some of the voters who did not turn out in those areas were Likud supporters who simply stayed home. Better mobilization of that pool, according to the campaign’s assessment, could be worth two to three Knesset seats for the party. The calculation is based on voting patterns in the previous election.

Likud officials said some of those identified are elderly voters who have difficulty reaching polling stations. Others stayed home for more routine reasons, including distance, lines, fatigue, or the feeling that a single vote would not change the result.

Campaign invests in bringing supporters to polling stations

The officials said that even people who intend to vote and say in advance that they will do so sometimes ultimately decide not to go to the polls on Election Day. The campaign intends to invest significant effort in bringing those supporters to polling stations throughout the day.

Officials familiar with the campaign’s field operations said that restrictions on the use of Elector would require more intensive work on the ground. Under Likud’s plans, personnel will be stationed near polling places to keep records, while reports will be received on who has already voted and a telephone campaign center will operate as backup.

The campaign plans to monitor turnout throughout the day among supporters identified in advance, determine which of them have not yet reached the polls, and activate its voter-mobilization operation accordingly.

Likud officials believe the effort can be carried out despite the restrictions on Elector. Officials familiar with the plans said it would require more intensive work by campaign personnel and could even, from an organizational standpoint, “turn out for the better” because it would require an “extra effort” in the field.

Campaign officials describe their outlook as one of “cautious optimism,” in part because they believe a significant number of supporters who did not vote in the previous election can be brought to the polls this time. The possibility that Winter could withdraw from the race is also affecting the campaign’s assessments.

This post was originally published on here. 

The cornerstone of Eilon Moreh’s new “Joshua Trail” was laid on Wednesday, marking the first stage of the Tourism Ministry’s new Biblical Trails in Judea and Samaria initiative to develop tourism in the West Bank.

It will combine the area’s landscape and scenery with sites connected to its historical and biblical heritage.

The NIS 3.2 million tourism project will include an accessible promenade and suspension bridge connecting the Eilon Moreh Heritage Center with the summit of the Mount Kabir Nature Reserve. In Genesis, the area of Eilon Moreh is the place where Abraham receives the promise from God that his descendants would be given the Land of Israel.

Tourism Minister Haim Katz was joined by Heritage Minister Amichai Eliyahu, Samaria Regional Council Head Yossi Dagan, and Tourism Ministry director-general Michael Izhakov for the trail’s cornerstone-laying ceremony.

Judea and Samaria Regional Cluster Director-General Keren Gefen, Eilon Moreh Heritage Center Director Shira Simchi, and Samaria Tourism Director Lilian Zitman also attended the ceremony, as well as Beni Katzover, one of the leaders of the original Eilon Moreh nucleus (garin).

Making West Bank accessible

The project is being jointly carried out by the Tourism and Heriage Ministries, the Israel Nature and Parks Authority (INPA), the Samaria Regional Council, the Judea and Samaria Regional Cluster and the Elon Moreh Heritage Center.

“In Samaria, the story is found on the ground, in the places where the events that shaped our history took place,” Katz said. “Developing tourism is part of building the country. Every trail we develop and every site we make accessible connects more people to the area, strengthens settlement and generates growth.”

“Samaria can and should become Israel’s Tuscany. It has landscapes, vineyards, wineries, history and heritage that cannot be found anywhere else.”

Dagan praised the establishment of the trail as another “moving step in building the country.”

“This place, where the forefathers of the nation walked, will now become accessible and welcoming to large numbers of visitors from across Israel,” stated Dagan. “Our response to every challenge is to continue building and continue developing tourism in the heart of the land of the Bible.”

He thanked Katz, Eliyahu, and Finance Minister Bezalel Smotrich for their partnership and commitment to the region.

Gov’t allocates funding to develop heritage sites, hotels in West Bank

The move comes as part of a wider trend of governmental moves to promote tourism and preserve heritage sites in the West Bank. 

In August, the steering committee approved the allocation of NIS 113 million to develop over 70 heritage sites across the West Bank as part of an initiative proposed by Smotrich.

The funding is set to advance several projects meant to strengthen tourism in the region, including the preservation of heritage sites, making them accessible to the public, rescue excavations, and the development of infrastructure.

Earlier, in July, the government approved the allocation of approximately NIS 27 million to develop and construct hotels in the West Bank to promote tourism in the area and transform the region from a “day-trip destination” into a destination for overnight stays.

As part of the decision, the ministry is expected to promote statutory planning for hotel development. It will also take steps to enable the realization of development rights and the marketing of land plots, based on a mapping study that the Tourism Ministry said it will conduct.

To do this, the government is expected to allocate NIS 7m. from the Tourism Ministry’s ongoing budget to be distributed equally between 2026 and 2030.

This post was originally published on here. 

Likud has weakened in recent weeks as Ofer Winter draws support from undecided right-wing voters, while the opposition bloc is also eroding, pollster Dr. Menachem Lazar told 103FM on Thursday.

“Likud has indeed been weakening in recent weeks. In our latest poll a week ago, it fell to 18 seats,” Lazar, CEO of Lazar Research, told Nissim Mishal and Anat Davidov. “Already during the large protests against the judicial reform, Likud lost its 30-seat majority. It dropped to the 25-26 seat range, and then October 7 came and initially cut it to around 17-18 seats, which is basically where it stands in the polls today.”

“What has happened over the past month, since the candidate lists were submitted, is Ofer Winter, who is eating into the coalition bloc, eating into Likud and bringing it down to around 18 seats,” Lazar said.

“If Likud is aiming to be the largest party, or at least the party closest to the largest party on the other side, which is Eisenkot’s Yashar, then the panic is justified. But if Likud is aiming to preserve its bloc, the balance between the blocs has remained more or less at the same level for quite a long time, at around 50 seats. Our latest poll also shows them at 50 seats. On Wednesday, we saw 51. So in that respect, it is stable. The dilemma is what kind of campaign to run.”

Regarding the aggressive approach Likud has taken toward Winter, Lazar warned that the strategy could prove risky.

‘A very big gamble’

“In my view, it’s a very big gamble, because Ofer Winter is gathering votes from what I call disappointed Likud voters. Or some would call them disappointed Netanyahu voters, or right-wing voters who say that it is difficult or impossible for them to vote Likud after October 7, after the past three years,” he said. 

“If Ofer Winter weren’t there for them, they might have stayed home. I don’t think they would have switched sides. There is almost no movement from one side to the other. Maybe one seat’s worth of them could have moved to the other side, which is also very significant in the political reality.”

The picture, Lazar said, is also complicated on the other side of the political map.

“That bloc, including its largest parties, has also been weakening in recent weeks. Yashar dropped to 23 seats, B’Yachad dropped to 13 seats. The same process is happening there. There is almost no movement between the sides,” he said.

“You could say that Ofer Winter perhaps took about one seat, maybe even less than that, from the other bloc. He is mainly relying on undecided voters. The story here is the undecided voters. There is still a significant group of around 8%, which is 10 seats. The question is who will manage to get them out of the house and convince them to vote, and then where they will go to vote.”

Confusion among supporters over who they want as Prime Minister

Lazar concluded by explaining that the question the opposition must ask is which party will emerge the largest.

“So on the one hand, that may create confusion among supporters who don’t know whom they want as prime minister, Naftali Bennett, Gadi Eisenkot, perhaps Avigdor Liberman. On the other hand, this bloc has a banner saying, ‘We are going to replace Netanyahu, no matter who does it.’ So that may also be a dilemma,” he said.

“There is also the Reservists and Economic Party. In the latest poll, it crossed the electoral threshold, but like Ofer Winter, it is still not in a safe zone. Here too, there is a question of whether to go after it head-on or use it to gather votes that otherwise might not have gone to this bloc.”

This post was originally published on here. 

A massive complex of several mikvaot, believed to have been used by Jewish pilgrims, has been uncovered at the foot of the Temple Mount on the outskirts of the Old City of Jerusalem.

The discovery was made during five seasons of excavations, directed by Prof. Uzi Leibner and Prof. Orit Peleg-Barkat of the Hebrew University of Jerusalem’s Institute of Archaeology.

“The Hebrew University has been excavating in the Ophel since 1968. Not continuously, but over the years,” Leibner and Peleg-Barkat told The Jerusalem Post. “It started with Benjamin Mazar, who was the president of the Hebrew University, right after the Six-Day War. Later, his granddaughter, Eilat Mazar, also excavated here, mainly Iron Age remains in the eastern part of the archaeological park. After she passed away, we stepped in.”

The complex, which stretches across about 280 square meters, was found at the Ophel archaeological site and includes a large central pool and several mikvaot. It is located near the now-sealed “Triple Gate,” which served as one of the main entryways to the Temple Mount in antiquity. 

During the Second Temple period, the archaeologists explained, the gateway led to an underground staircase that led upwards to the middle of the Temple Mount’s plaza. Another gate to the west, known as the “Double Gate,” is also blocked today, but the blockage is reachable from inside if one starts on the side of the plaza and walks down.

Site likely played a significant role in ancient pilgrimage to Second Temple

Both its location and size suggest it played a significant role in the journey of ancient Jews making pilgrimage to the Temple in Jerusalem, allowing them to undergo ritual purification at one of the site’s mikvaot before making their way to the Temple Mount.

“Our excavation is right at the foot of the staircase climbing up to the Triple Gate. So it’s a major location, about 50 meters from the gate itself,” Leibner said.

At the center of the complex, archaeologists unearthed a large plastered pool with steps descending into it from all four sides. It measures approximately 12 by 9.5 meters and dates back to the early first century CE. 

Northwest of the central pool, archaeologists exposed an ashlar (finely dressed stone) structure containing four rooms. Three of the rooms were identified as mikvaot, ritual purification baths, dating back to the beginning of the 1st century CE.

“This part of the complex was buried beneath a later structure from the late 4th century,” Leibner explained, gesturing toward the section where three of the ritual baths were found. “Eilat Mazar, before she passed away, excavated a bit up here. This whole area was covered by a huge Byzantine house. She broke the closing eastern wall open, and she found this beautiful ashlar facade.”

All of the mikvaot include an extremely rare feature: drain holes carved into the floor of the immersion pools, indicating that the complex may have been supplied by a permanent source of running water.

They, along with the central pool, were connected to an extensive drainage system that flowed out into the Kidron Valley. The drainage channels, where many ancient coins and pottery shards were found, stood up to over two meters high.

“It is uncommon in mikvaot that you can empty the immersion pool and replace the water,” Leibner explained to the Post. “This is one of the hints that brings us to the idea that there was running water here. Not just collecting rainwater as typical, but running water.”

He added that it was maybe connected to the aqueduct that fed the Temple Mount from the area of the Hebron Mountains. 

Of the three mikvaot, only one survived at its full height of 4.2 meters in a rare act of preservation, including its vaulted stone roof and the shaft through which it was supplied with water.

Members of the Hebrew University of Jerusalem's archaeology team standing in front of the vaulted mikvah, September 23, 2026. (credit: Aubrey Mercado)

The surviving mikveh served as a water reservoir during the Byzantine period, Leibner told the Post.

Two of the mikvaot feature carefully hewn ashlar steps. Between the large pool and the ashlar structure lies a courtyard paved with large, finely dressed stone slabs.

However, the excavations also revealed that the monumental complex was not the first public purification facility built at the site. 

Archaeologists uncover earlier built mikveh

Beneath it, the Hebrew University expedition uncovered remains of an earlier ashlar-built public purification complex that included a large mikveh, probably dating to the first century BCE. 

Peleg-Barkat explained that this mikveh most likely went out of use once the drainage channel of the second phase was built, as the drainage cuts through the immersion pool, rendering it unusable.

The discovery points to a longer history of ritual purification activity in the area immediately adjacent to the Temple Mount.

The complex eventually met its end in the summer of 70 CE, when Jerusalem and the Temple were destroyed by the Romans. Evidence of the destruction includes dozens of coins dating to the First Jewish Revolt against Rome, discovered throughout the complex during excavations.

Silver half-shekel from the third year of the First Jewish Revolt found at the Ophel archaeological site, September 23, 2026. (credit: Tal Rogovski)

“What we have here is two clear distinct phases,” Peleg-Barkat said. “We have this monumental structure from the Second Temple Period, destroyed in the First Jewish Revolt against Rome in the year 70, with dramatic evidence of destruction inside the structure.”

After its destruction, the area was abandoned for several hundred years until the Byzantine period, when it was rebuilt with domestic structures.

“The complex goes to the heart of our research into the archaeology of Second Temple-period pilgrimage,” said Leibner and Peleg-Barkat. “How the area immediately south of the Temple Mount was designed to accommodate the many pilgrims who came to Jerusalem to visit the Temple, and what activities and rituals took place near its gates.”

Excavations of the Ophel were conducted by the Institute of Archaeology at the Hebrew University of Jerusalem in cooperation with the Armstrong Institute of Biblical Archaeology, with funding from the Israel Science Foundation (ISF), the Armstrong Institute, and the Hertog Center for the Archaeological Study of Jerusalem.

This post was originally published on here. 

Since prediction markets exploded in popularity in 2024, the industry’s two leading players, Kalshi and Polymarket, have been raising staggering amounts of money. In the case of Kalshi, the startup notched a $1 billion Series F in May that valued it at $22 billion, and investors are eyeing an initial public offering as soon as next year. But even as the company pulls in gobs of revenue, its business model faces huge uncertainty due to a looming Supreme Court case that raises the question of whether that valuation is justified. Now, research firm PitchBook has put out a 46-page report that seeks to define Kalshi’s true worth.

The detailed report by analyst Franco Granda parses financial metrics and examines the legal landscape confronting prediction markets, and ultimately concludes Kalshi should be valued at $30.4 billion based on expected 2028 adjusted earnings. The report qualifies that figure by forecasting that assigns a $22.8 billion valuation to the company in the event of a bear case scenario, and a $42.1 billion figure for a bullish scenario.

As the following graphic shows, PitchBook predicts Kalshi’s revenue will reach $6.4 billion by 2030, and that the company will pull in $3.7 billion in adjusted earnings:

In an interview with Fortune, Granda shared his view that the company is an enviable competitive position since its main rival, Polymarket, has been able to overcome the early lead Kalshi built among U.S. consumers thanks to a more cautious revenue strategy. Granda added that Polymarket is also spending considerably more on promotions to acquire new customers, and the prediction market industry has become effectively a two-horse race that will see a handful of other players fighting for scraps.

“Third parties will pick up crumbs here and there but the window of opportunity for people to get in has passed,” said Granda. The report, meanwhile, included a graph showing the respective volume for the two industry leaders:

The PitchBook report further predicts that Kalshi will be able to consolidate its lead on the strength of partnerships with distribution platforms like Robinhood, market makers like Susquehanna, and numerous other tie-ups.

Since Kalshi is a private company that is not obliged to publish its financials, PitchBook’s predictions are based in some cases on estimates rather than hard figures. According to the company, its report contract draws on data from Kalshi’s API, PitchBook’s internal data, Dune databases, government filings, management commentary, and public peers’ disclosures.

And while the PitchBook offers a broadly bullish outlook for Kalshi, that calculation is based on a reading of the legal tea leaves that some may view as optimistic.

The Supreme Court wildcard

Prediction markets differ from traditional sports books in that customers don’t bet against the “house” but against anyone willing to take the other side of a yes/no contract. This distinction means sites like Kalshi are typically more profitable than regular betting sites since they are not at risk of losing money in the case of an unexpected outcome.

This business advantage offers one explanation for why prediction market startups have become so valuable. But, for now, they also enjoy what may be an even bigger advantage: a different regulatory regime that allows the likes of Kalshi and Polymarket to pay fewer taxes and court younger customers.

Unlike conventional sports books, which operate on the basis of licenses issued by states, Kalshi and Polymarket argue they are exclusively regulated at a federal level by the Commodity Futures Trading Commission. This has allowed them to offer their products to customers as young as 18, versus 21 for sports books, and also to avoid paying state taxes.

The problem for Kalshi and others is that their legal case is strong when it comes to prediction markets related to elections, entertainment and so on—but is weaker when it comes to sports. That has led states and Indian tribes to sue Kalshi on grounds that it is allegedly offering unlicensed sports gambling.

This is a major concern for investors since, as PitchBook notes: “The sports dispute threatens Kalshi’s main source of fees, with the category accounting for 69.9% of event fees YTD, rising to 82.4% when including exotics.” (In this context, “exotics” describes parlays and other multi-leg forms of betting that require a user to correctly guess the outcome of multiple different games.)

The issue of whether or not Kalshi and Polymarket’s sports offerings are legal is being hotly litigated in dozens of states and, so far, courts are for the most part ruling against the company. Contradictory rulings from two appeals courts, the 3rd Circuit and the 9th Circuit, have teed up a so-called circuit split and made the case ripe for the Supreme Court, which is widely expected to hear it next year.

While PitchBook acknowledges that an adverse legal ruling at the Supreme Court would be a blow, the report concludes that it would not be existential, noting that “For illustration, a 25% reduction in sports and exotics gross fees would remove $642 million from our 2026 forecast and $1.4 billion from 2030.”

In Granda’s view, Kalshi would be able to quickly adapt in the event the Supreme Court rules against the company, in part by adopting a state licensing model. That view may be sanguine, according to legal experts, however, who told Fortune that the company has angered many state law-makers and that it would be hard-pressed to reconstruct its business model.

A final consideration informing Kalshi’s future valuation is how quickly the company can build out wagers that are not related to sports. The most promising of these is perpetual futures, according to PitchBook, which forecasts net transaction revenue of $50.7 million in 2026, and $275.7 million in 2030—healthy figures but hardly enough to meaningfully offset a total loss of sports-related revenue.

You can read the full Pitchbook report, titled “Kalshi Initiation Report: A prediction market for anything, but its own future” here.

This story was originally featured on Fortune.com

This post was originally published here. 

Bank of America is expanding its skills-based hiring efforts, announcing Thursday that it will hire 1,000 additional apprentices over the next two years while investing $150 million in workforce development programs.

The Charlotte, North Carolina-based bank said the new apprenticeship positions will span consumer banking, technology, operations and other business areas, building on the more than 800 apprentices it already hires each year through paid work-based learning programs.

“This is one more way for us to do what we can to help create a skilled American workforce for tomorrow,” Brian Moynihan, chair and CEO of Bank of America, said in a statement. 

“Our apprenticeship and workforce development programs underscore our continued commitment to expanding opportunity and helping talented individuals develop the skills to succeed.”

BANK OF AMERICA UNVEILS $250B INITIATIVE TO MODERNIZE US INFRASTRUCTURE

Moynihan added, “We appreciate the spirit of reform and practicality that the Department of Labor is bringing to this important work, which will lead to opportunities for the private sector to do even more.”

The announcement comes as employers across industries increasingly adopt skills-based hiring practices that place less emphasis on college degrees.

Bank of America said about 40% of its current hires do not have a bachelor’s degree.

The bank has also committed to hiring 10,000 additional workers with military backgrounds over five years and another 8,000 people from community colleges.

BOFA CEO BRIAN MOYNIHAN DISMISSES RECESSION FEARS DESPITE WALL STREET’S MOST HAWKISH FED FORECAST

Alongside the hiring push, Bank of America said it will invest $150 million over the next five years in workforce development organizations that “equip individuals with in-demand skills and connect them to career opportunities.”

The commitment follows nearly $40 million the bank invested in workforce development last year through partnerships with more than 100 colleges and universities and over 600 nonprofits.

“American workers deserve the opportunity to build successful careers without leaving their hometowns,” Acting Secretary of Labor Keith Sonderling said in a statement.

“I applaud Bank of America for investing in apprenticeship and workforce development programs that prepare Americans for high-skilled, high-paying jobs while helping employers build the skilled workforce they need in their local communities,” Sonderling added.

BANK OF AMERICA TO HIRE NEARLY 4,000 SUMMER INTERNS AND CAMPUS RECRUITS

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The apprenticeship expansion comes as Bank of America continues to invest in its workforce and the broader U.S. economy.

Last month, the bank unveiled a $250 billion initiative to finance infrastructure projects, including data centers, semiconductor facilities, power generation and transportation. Earlier this year, it also announced plans to hire nearly 4,000 summer interns and full-time campus recruits.

This post was originally published here. 

The AI boom is less a marathon of innovation and more a spending sprint as companies pour billions to maintain their spot in the AI race. Now, Meta is spending on a scale that puts the company above most countries’ military budgets.

Meta plans to spend up to $145 billion in capital expenditure in 2026, a roughly 101% jump from the $72.2 billion it spent just one year earlier.  The company says the expenditures will fund its core business, with the higher component prices and additional data center costs adding to the increase. And according to CEO Mark Zuckerberg, AI will be a “significant portion” of that total spend. Reuters also reported that the increase is tied to the company’s computing infrastructure and cloud agreements. 

“As AI usage in our products and businesses continues to ramp, we continue to invest aggressively in infrastructure to meet the demand,” Zuckerberg said in Meta’s Q2 2026 earnings call. “We expect that a significant portion of our compute is going to go towards training our models, growing our core business and delivering personal agents and new ​products, but we also expect to grow a large business serving large customers as well.”

Zuckerberg described 2026 as a pivotal year for Meta’s effort to build what he calls a “superintelligence.”

“The opportunity in front of us is massive,” he said. “We are now at a point where our investments in AI are accelerating every major part of our core business. They’re improving the experience for people using our apps, driving better performance for advertisers, and helping our teams build new experiences and ship faster.”

“We’re developing new personal agents that will be the foundation for our next wave of products and revenue lines in the months and years ahead,” he continued. “We see a large enterprise opportunity to sell to businesses, including APIs, business agents, potentially selling compute directly, and other services that we’re building for large customers.”

The $145 billion capex puts Meta above every country’s military budget from 2025, save for the United States, China and Russia.

https://www.datawrapper.de/_/WNHjv

According to the Stockholm International Peace Research Institute, the U.S. spent $954 billion on the military in 2025, followed by China at an estimated $336 billion and Russia at an estimated $190 billion. (Germany currently spends $113 billion at fourth, and India follows with a budget of $92 billion).

Bills for big tech

Meta’s capex has accelerated as the company shifted its focus toward AI. On top of the $145 billion capex forecast, Meta also projects the total expenses in 2026 to reach up to $169 billion, which, according to Reuters, reflects the higher compensation and recruitment of AI talent and infrastructure spending. 

Meta’s recorded capex was $28.1 billion in 2023, compared to $39.23 billion in 2024 and $72.22 billion in 2025—according to SEC filings. That exceeded Meta’s own forecasts ahead of last year, as the company originally projected the expenditures in 2025 to reach up to $65 billion.

https://www.datawrapper.de/_/KqidA

Additionally, Meta spent $27.05 billion on property and equipment in 2023, $37.26 billion in 2024 and $69.69 billion in 2025. 

“AI is accelerating our core business today, powering our next generation of products, and opening the door to entirely new enterprise opportunities,” Zuckerberg said in a press release. “The results are already showing, and I’m optimistic about the potential ahead.”

Much of that infrastructure supports the computing requirements of Meta’s AI systems. The company has been building large data centers and securing access to computing capacity from outside providers.

Across the AI giants, infrastructure and spending has not slowed down. According to a report from Reuters, Alphabet, Amazon, Meta and Microsoft are on track to spend about $730 billion on AI in 2026. That’s up from previous estimates of $600 billion.

Meta did not immediately respond to a request for comment from Fortune.

This story was originally featured on Fortune.com

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When Xi Jinping arrives in Washington on Thursday, artificial intelligence will top the agenda. Both sides have even agreed to an “AI hotline” to warn each other of runaway systems—at least according to the U.S.

Whereas once the U.S. looked upon China as a “fast follower” in technology, it now confronts a country that’s also on the frontier—ironically, in part due to U.S. action.

Washington’s technology blockade is proving to be one of the greatest accelerators of Beijing’s hard-tech rise. Far from isolating China, U.S. pressure has mobilized capital, talent, and global partners to turn containment into the very fuel of China’s technological superiority.

The blockbuster debuts of ChangXin Memory Technologies and Unitree Robotics are proof that Beijing can deliberately mobilize capital and scientific expertise to build national champions in semiconductors, robotics, and advanced manufacturing.

China’s 15th Five-Year Plan (2026–2030) is both the blueprint for Beijing’s push for absolute technological sovereignty and the decisive test of that ambition.

A flurry of signals from the top validates this shift towards hard technology. Chinese President Xi Jinping made a personal trip to Shanghai in April, elevating basic research as the main control switch for downstream industries. This was followed by Xi’s attendance at the National Science Conference in Beijing, where the president ordered China’s financial system “to invest early, invest in small-scale projects, invest for the long term, and invest in hard technology.” The capstone came at the World Artificial Intelligence Conference in Shanghai, when Xi warned against creating “new historical injustices” in the era of AI.

The U.S. is trying to hold back China’s tech development. Washington has expanded its entity-list sanctions and launched the “Pax Silica” initiative to secure AI, semiconductor, and critical-mineral supply chains among trusted partners. Now it is pressing international partners to stay out of China’s digital frameworks: The U.S. is preparing to tell dozens of countries they must pick sides in the AI race, warning that they will be excluded from the U.S.-led AI coalition if they also sign up for Beijing’s competing framework, Reuters reported last month.

Yet history suggests the tech blockades don’t keep China behind but instead force it to accelerate its journey to self-reliance. When the Soviet Union withdrew its technical experts in the 1960s, China built its own nuclear and ballistic capabilities in response. Later frictions, such as those over the 1996 Taiwan Crisis, spurred China to create the Beidou navigation system, a competitor to GPS. Banned by U.S. law from the participating in the International Space Station, China built its own station, Tiangong.

Beijing is determined to dictate how the artificial intelligence and hardware revolutions unfold. The state is decisively shifting resources away from the property- and consumer-led growth model of the past two decades, instead placing semiconductors, advanced manufacturing, and humanoid robots at the core of national strategy.

China is pulling three specific levers to sustain this tech push.

The first is capital. A listing frenzy, together with the rise of the scientist-entrepreneur, is reshaping how tech industrial investment is mobilized, turning finance into a driver of hard tech growth.

China’s research spending surpassed 3.9 trillion yuan ($568 billion) in 2025, with basic research funding reaching nearly 280 billion yuan, passing 7% of the total, a record high. China has launched a national venture capital guidance fund to back early-stage, long-term, hard-tech firms, aiming to mobilize 1 trillion yuan ($145 billion) in total capital.

The second lever is talent. Academics are steadily moving to Chinese research institutions; at least 85 world-class researchers relocated to China between early 2024 and late 2025, according to a tally by CNN and Times Higher Education.

 In July, Nobel laureate Omar Yaghi left UC Berkeley for a full-time position at Tsinghua University, where he will launch a new AI-assisted materials laboratory. He’s joined by a whole group of academic superstars: Nobel laureate in Chemistry Hartmut Michel to Jilin University; Nobel laureate in Economics Philip H. Dybvig to Southwestern University of Finance and Economics; and Nobel laureates in Physics Ferenc Krausz and Andre Geim and Fields Medalist Ngô Bảo Châu to the University of Hong Kong.

According to a recent study by the Carnegie Endowment for International Peace, just over 57% of top AI talent in 2025 had degrees from Chinese institutions, up from 46% in 2022. (Just 13% had degrees from U.S. institutions).

China’s research ecosystem is now a frontier, not a fallback, for the world’s best scientists.

The third lever is international academic cooperation. China’s transnational education market is rebounding from two years of slowed approvals: In 2026, the Ministry of Education approved 86 joint institutions and 133 joint programs across 174 universities, covering brain-computer interfaces, big data, and foundational science.

Based on my conversations with senior officials in Beijing, it’s evident that China’s top leadership explicitly instructed the education system to open up to the outside world, and prioritize partnerships in engineering, mathematics, and other hard-tech disciplines.

Beijing is running a dual-track strategy: build sovereignty at home, and build influence abroad. Robots, chips and AI-driven vehicles will generate commercial revenue while feeding China’s AI models with vast streams of real-world training data that U.S. firms can’t replicate.

China is also redrawing the global tech sector by exporting an open-source, hardware-centric ecosystem. Open-source models like Kimi K3, Qwen, and DeepSeek are enabling the Global South to build sovereign AI without relying on Western infrastructure.

To be sure, this bet comes with real costs. Heavy R&D allocation has weighed on household consumption, leaving a sluggish consumer market beside a surging hard-tech sector.

But Beijing has accepted this cost because Washington’s pressure has convinced Beijing that technological sovereignty is a matter of national survival.

Whatever gets agreed at the Xi-Trump meeting—assuming anything gets agreed regarding tech at all—will just be a preamble to a decades-long tech competition.

After Xi returns to Beijing, U.S. politicians will debate, once again, how to constrain China’s rise. But China has already caught up—and it’s already moved on.

The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune.

This story was originally featured on Fortune.com

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Ukrainian President Volodymyr Zelensky said that Russia “will not end this war without pressure” in his address to the United Nations General Assembly on Wednesday.

He noted that, while he believes that this upcoming winter could be difficult for Ukrainians, his army will make Russia’s winters difficult as well.

“Ukrainians understand that this winter could be very harsh for us. But in response, we will have no choice but to make it painful for Russia too,” he said.

“No Russian official ever imagined that ‘Army General Winter,’ which had fought on Russia’s side for centuries, would one day switch sides and support those defending themselves from Russia. We will make that happen this winter if Russia continues to target our energy system and our heating,” Zelensky said.

He also called for robust diplomatic efforts to help de-escalate the war before winter sets in.

Zelensky: Putin is ‘patient zero’ that needs to be stopped before he leaves behind more evil

Zelensky then called Russian President Vladimir Putin “patient zero” and added that “the longer Putin is able to wage war, the more evil he will leave behind in this world.”

He also stressed that more sanctions against the Kremlin were needed, along with continued support for Ukraine.

“Yes, sometimes it may seem that Ukraine is focused only on war because we speak about weapons, we speak about defense, and sanctions against the aggressor. But Ukrainians did not choose this war. We choose not to die, not to lose our country, our families, not to lose our independence, our freedom,” he said.

Shortly before Zelensky addressed the assembly, Russia launched an attack on Kyiv, killing at least two people.

 The attack lasted from morning into the evening in one of the heaviest strikes since Russia began hitting Kyiv and nearby areas with faster and high-flying jet drones that are harder to intercept.

“Every such attack happens because the pressure on the aggressor has never become total, and Russia believes it can continue to bet on ballistic terror,” Zelensky said.

“Right now, the United States has an opportunity to respond strongly. We need ballistic interceptors to protect lives.”

Zelensky says Ukraine released two North Korean soldiers to South Korea

Zelensky also revealed that Ukrainian troops recently captured two North Korean soldiers, but sent them to South Korea. 
“One of them, when he realized he was going to be taken prisoner, tried to kill himself. He was shocked that fate didn’t let him die. This is how they raise people in the north,” he said.

South Korea did not confirm any details about the North Korean soldiers out of concern for their families still inside the DPRK.

Reuters contributed to this report.

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Iran is receiving substantial support from China, including the provision of intelligence and electronic components for military purposes, The Wall Street Journal reported on Wednesday.

According to WSJ, citing Iranian customs data, China has shipped around 1,300 shipments to Iran’s defense ministry containing “dual-use” components and chemical compounds that could be used for drones, missile guidance systems, and ballistic missiles.

The WSJ also cited US officials as saying that Chinese banks and front companies had assisted Iran in avoiding US sanctions, providing billions of dollars to the regime.

Iranian officials did not respond to WSJ requests for comment.

Trump reluctant to jeopardize relationship with Xi Jinping

US President Donald Trump has been reluctant to confront China’s aid to Iran, the WSJ reported.

According to people familiar with the discussions, Trump said that a top priority was maintaining a good relationship with Chinese President Xi Jinping ahead of the United Nations General Assembly.

Michigan Democrat Sen. Elissa Slotkin confronted Trump over this in a letter sent on Friday, which the WSJ saw. 

Ellis urged Trump to focus on China’s aid to Iran during his talks with Xi.

“There is now a large and growing body of evidence that Chinese companies are helping Iran target and kill American troops, keep Iran’s drone and missile programs alive, and sustain Iran’s economy,” she wrote.

A US Treasury spokesperson told the WSJ that the Trump administration “has repeatedly targeted malign Iran-related activity that exploits or transits China’s jurisdiction and will continue to do so.”

Iran receives satellite imagery of US base from China

Earlier this month, the WSJ revealed that Iran had obtained high-resolution satellite imagery of a US base in Jordan from Chinese sources before launching the missile attack that killed three American soldiers in July.

The WSJ reported that Washington has drawn a direct line between the Chinese-sourced imagery and the July 17 strike on Muwaffaq Salti Air Base, but did not confirm direct involvement from the Chinese government. 

Iran has also used a barter-like arrangement to bypass sanctions on its oil sales and buy billions of dollars’ worth of goods from China, including military gear, two senior Iranian sources and three other people familiar with the matter told Reuters earlier this month.

The secretive trade mechanism, in which Iranian oil is exchanged for credits for Chinese imports, has provided a financial lifeline for Tehran in recent years as the United States stepped up economic and military pressure over its nuclear program, according to the sources, who spoke on condition of anonymity.

In July, Reuters reported that Iran was expected to receive within weeks a first shipment out of up to 400 Chinese-made shoulder-fired air-defense missile launchers, as it rebuilds its defenses amid war with the United States.

The purchase, valued at $60-70 million, is one of Tehran’s largest-known efforts to strengthen its short-range air defenses since the outbreak of its war with the US and Israel, which exposed gaps in Iran’s ability to protect military sites and strategic infrastructure.

Reuters and Asher Smith contributed to this report.

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There are portraits you can never look at the same way twice.

In September 2024, when we opened the Faces of October 7th exhibition in Jerusalem, one unbearable question hovered over some of the faces on display: Would they come home?

Two years have passed. The faces remain the same, but beside some of them, a new chapter has been written. Some returned from captivity alive and are now relearning what freedom means.

Others were brought home to Israel for burial, to the families who had waited for them. Some families continue to live with an endless absence, while new stories of courage and sacrifice have become part of Israel’s painful mosaic.

Between the exhibition we presented in 2024 and the one we are opening now, it is not just the words beside the portraits that have changed. We, too, have changed.

The story of these portraits began with a spur-of-the-moment decision. On October 6, 2023, graffiti artist Benzi Brofman was invited to paint live at the Unity Festival in Re’im. Abandoning his original plan, he decided to return home that day rather than stay for Shabbat. Hours later, the place where he had stood and painted became part of the site of the deadliest massacre in Israel’s history.

Once he recovered from the initial shock, Benzi did what he knew best: he painted. He set aside his commercial work and began creating, voluntarily and in collaboration with the families, portraits of those murdered, hostages, and fallen IDF soldiers. In each portrait, he captured a direct, piercing gaze that is impossible to avoid.

The portraits on display represent the full spectrum of our October 7 story: hostages who returned alive and those brought home for burial, young people who went to dance at the Nova festival and never returned, families murdered in their homes, civilians killed while trying to save others, fallen IDF soldiers, and innocent civilians.

Behind every portrait is an entire world. A person who loved, laughed, dreamed, and made plans for the following day. A family that still wakes each morning to a reality it did not choose.

The war that began on October 7 did not remain within Israel’s borders. Its reverberations reached university campuses, newsrooms, parliaments, and social media platforms around the world. Alongside the war on the ground, another front opened: a battle over facts, over memory, and over the Israeli peoples’ very right to tell the world what happened to them.

We have watched denial, conspiracy theories, and disinformation spread like wildfire.

Victims have been asked to prove their pain, images have been stripped of context, and terrorist organizations have been treated by many as credible sources. Before families had even begun to process the disaster, they were forced to watch the world cast doubt on their stories.

Actively remembering 

At StandWithUs, we confront this reality every day. Around the world, our staff works with students, youth, educators, communities, and leaders. We research and refute false information, develop educational resources, bring personal testimony to audiences, and give supporters of Israel the knowledge and tools they need to speak out based on facts.

Israel advocacy is not an attempt to erase complexity, nor does it require agreement with every decision made in Israel. It is a basic insistence that any discussion begins with the truth, and that even amid political disagreement, we do not lose the ability to see human beings.

The exhibition connects the portraits with personal stories, video, interactive installations, and a virtual reality experience. Above all, it asks us to stop, for even just a moment, and resist the urge to move on.

Memory is not passive. To remember is to look, to listen, and to tell. It is to ensure that even when the world’s attention shifts to the next crisis, the people of October 7 do not become a footnote.

I invite the public to visit the exhibition, look them in the eyes, and leave with a renewed commitment to telling their stories. The struggle for truth and memory is not taking place only overseas. It begins here, with each and every one of us.

The Faces of October 7th exhibition will be on display from September 23 to October 8 at the StandWithUs Katz Education Center, 2 George Washington St., Jerusalem. For details and registration, visit the exhibition website: www.standwithuscenter.com/facesofoctober7

The writer is the associate director of StandWithUs Israel.

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WASHINGTON — In 2007, a freshman at the University of New Mexico told a journalist her dream was to become a doctor and return to her small hometown to practice medicine. 

“I would love to go back to Gallup,” Heidi Overton said in a story about a new program allowing undergraduates like her to apply to the university’s medical school early. 

Nearly 20 years later, Overton has not returned to Gallup, the city of 20,000 nestled along Route 66 where her father still leads a charismatic church. Instead, she’s leveraged her medical degree, rural background, and “calm, reasoned” work style into becoming the youngest-ever nominee to lead the Food and Drug Administration. 

Continue to STAT+ to read the full story…

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A decade ago, machine learning scientist and Nobel laureate Geoffrey Hinton made a proclamation that still puts radiologists on edge.

“If you work as a radiologist,” the so-called godfather of artificial intelligence said at a conference, “you’re like a coyote that’s already over the edge of the cliff, but hasn’t yet looked down.” Deep learning was getting so good, so fast, said Hinton, that “people should stop training radiologists now.” In five years — ten, max — AI would do better than radiologists, he predicted. 

The clock has run out on that prediction. But the field of radiology isn’t just staring at its shoes, waiting to see how technology upends the profession. Instead, a growing number of radiology practices, in particular outpatient and teleradiology groups, are aggressively embracing AI: developing and acquiring their own tech, deploying it in-house, and marketing their “AI-native” capabilities to radiologist employees and hospital customers alike. 

Continue to STAT+ to read the full story…

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WASHINGTON — Congress is considering the first major overhaul of how Medicare pays doctors in more than a decade, and both Democrats and Republicans appear to agree on the outlines of an approach.

The main policy under consideration would link Medicare’s doctor pay rates to a medical inflation measure, giving doctors guaranteed pay boosts, as hospitals and other parts of the health care system have long received.  

In doing so, Congress would be retreating from the notion that Medicare can control how many services physicians provide on a national basis, an idea that has undergirded Medicare’s doctor payments for decades. And it would reduce the government’s push to get clinicians to engage in value-based care, where they get paid more to keep patients healthy. 

Continue to STAT+ to read the full story…

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WASHINGTON — Trump administration officials last Friday touted the success of their drug pricing policy, saying every U.S. state had agreed to participate in a federal initiative designed to provide lower prices to state Medicaid programs. 

“It’s such a good deal that every state realized they need to take it,” Mehmet Oz, administrator of the Centers for Medicare and Medicaid Services, said at a White House event. 

But officials in several states told STAT they’re actually still undecided on whether to participate — even if they did technically apply — and others are still trying to determine whether the federal initiative, called the GENEROUS model, actually offers a better deal than what they get through existing rebates from drugmakers. 

Continue to STAT+ to read the full story…

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Earlier this month, Novartis released the top-line results of Lp(a) HORIZON, its highly anticipated Phase 3 trial of pelacarsen. Pelacarsen held promise as potentially the first approved therapeutic targeting lipoprotein(a), a genetically determined cholesterol particle strongly associated with heart attack and stroke risk.

The study did show that pelacarsen successfully worked in lowering lipoprotein(a) levels. It didn’t, however, move the needle when it came to reducing cardiovascular events.

The announcement also comes just weeks after the letdown of ZEUS, a Phase 3 trial evaluating Novo Nordisk’s ziltivekimab, a monoclonal antibody targeting IL-6 as an anti-inflammatory agent. It too was successful in impacting its biological target, without making a difference in clinical outcomes.

Continue to STAT+ to read the full story…

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When I was in kindergarten in 1961, I survived a near-fatal case of measles. 

One of my siblings caught it, then another, and then me. They recovered quickly, but my clearest memory of that period is my father carrying me to our station wagon and rushing me to the hospital. I stayed for a month, part of it in a coma, my blood pressure dangerously unstable.

Read the rest…

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Ambassador to the US Yechiel Leiter, whose son Neria was seriously wounded during a car-ramming terror attack on Wednesday, said that his son’s life was still in danger during a Thursday press conference outside the hospital where he was being treated.

“His life is still in danger,” Leiter said. “This experience is different from the night when I received the knock on the door, when my eldest son fell in combat. He died instantly, and there was no possibility of bringing him to a hospital and allowing Israel’s doctors to save his life. There was also no possibility for us to gather around his bedside, recite Psalms, and rally the people of Israel to pray for his recovery.”

He said that he had feared that he would land in Israel without any hope, but was heartened to hear that Neria’s condition had stabilized, adding a request that the public continue praying for his recovery.

His daughter, Leiter added, had given birth the day before after visiting her brother, and was in the same hospital as Neria, only 40 meters away.

“On a personal and more public note, I received the news in New York yesterday, immediately after an interview in which I was asked about the violence in Judea and Samaria,” he also added.

Shaare Zedek Medical Center said that Neria’s condition was stable after several examinations and surgeries, but that his condition was still defined as serious, and his life remains in danger.

Neria seriously wounded in car-ramming three years after his brother killed in Gaza

Neria, an IDF reservist, was seriously wounded in a car-ramming terrorist attack at Maccabim (Bell) checkpoint on Route 443 near Modi’in-Maccabim-Re’ut.

In 2023, one of Leiter’s other sons, Maj. (res.) Moshe Yedidya, was killed in Gaza. He was a company commander in the 551st Brigade’s 697th Battalion.

Miriam Sela-Eitam contributed to this report.

Data from the Australian Taxation Office (ATO) shows a record number of Australians are opening self-managed superannuation funds (SMSFs), as total assets in the sector surpass $1 trillion.
In the year ending June 2026, 52,020 new SMSFs were recorded, up from 42,336 the year before and more than double the 25,879 recorded in 2021.
At the same time, the number of SMSFs being wound up has fallen sharply.
Only 5,011 exits were reported in the year to June 2026, a decline from 15,149 exits the year before and 19,298 exits in 2021.
Australia now has 680,301 SMSFs, while those aged 35 to 44 make up the largest age group among new SMSF members.
An SMSF is a private superannuation fund managed by its members rather than by a large super fund, although many members still seek the services of accountants or advisers. …

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Disney’s Magic Kingdom in Orlando has been dethroned as the world’s most-visited theme park by an attraction in Dubai named Global Village that started life as a small pop-up fair in a parking lot.

For more than two decades, the Magic Kingdom has held the title of the theme park with the highest annual attendance according to the Themed Entertainment Association (TEA). Although this accolade is not in doubt, new analysis has revealed that the park isn’t the undisputed leader it was believed to be.

Disney comfortably has the highest combined attendance of any theme park operator. Its 14 outposts in four countries welcomed a total of 145.2 million guests in 2024, according to the TEA’s latest data. The jewel in its crown is the Magic Kingdom in Florida. The latest TEA data shows that in 2024, the Magic Kingdom had an average of 48,732 visitors per day.

However, Global Village’s tally came to 49,505, as it attracted 10 million people in just 202 days (Global Village isn’t open during the brutal Dubai summer). What’s more, Global Village’s typical hours are 38% shorter than those of the Magic Kingdom, so its attendance per hour is around 33% higher than its rival in Orlando.

Attendance at Disney is in decline

Photo by Waleed Zein/Anadolu via Getty Images

The Magic Kingdom has topped the TEA’s theme park attendance rankings since it began compiling them in 2006. However, over that time, the park’s visitor numbers have only risen by 7.2% to 17.8 million annually. Instead of trying to get more people through the gates, Disney’s strategy has been to get them to spend as much as possible. It explains why attendance at Disney’s U.S. parks declined by 1% last year while spending per guest surged by 5%.

This hasn’t just been driven by increases in the price of food, drinks and merchandise but also park passes. A one-day ticket to the Magic Kingdom cost just $63 at the start of 2006, but this year it passed $200 for the first time.

It is a world away from the United Arab Emirates (UAE), which has been one of the fastest-growing theme park markets in the world over the past two decades. In 2006, the number of major parks in the country could be counted on one hand. However, since then, Abu Dhabi and nearby Dubai have built attractions based on Lego, Ferrari, SeaWorld, Sony and Warner Bros. It doesn’t stop there as Harry Potter and a Disney theme park are also coming to Abu Dhabi over the next decade.

Despite the UAE being almost synonymous with excess, its parks are far from the most expensive in the world. There is good reason for this.

The country’s fortunes were built on oil and gas, but as its reserves began to run out, it invested heavily in leisure to attract tourists and diversify its income. Theme park tickets tend to be reasonably priced in order to get guests through the gates and no expense is spared on the attractions to tempt them to return.

Designed by an ex-Disney exec

Photo by FADEL SENNA / AFP

This strategy has been a dream ticket for Dubai’s Global Village theme park, which was created by the government in 1996 as a pop-up attraction. A 12.4-acre site in a car park was home to tent-like kiosks representing ten countries as well as food stalls selling traditional dishes. Local entertainers gave performances and artisans carved ornaments.

Although it was only open for a few weeks, it was a hit, especially with families as it gave children a glimpse of other cultures without needing to travel. Indeed, it was so popular that it moved repeatedly to increasingly larger sites.

By 2004, it spanned 36.3 acres and welcomed 3.1 million visitors. The site was so sprawling that it was getting difficult to relocate, so it switched to a permanent location the following year.

The late Disney designer Eddie Sotto was hired to create the master plan for the new 394.9-acre site, which he based on the media giant’s futuristic Epcot park in Orlando. Like Epcot, one part of Global Village is formed from the country pavilions while the other is dedicated to thrill rides and science-themed simulators. Both parks have regular fireworks displays as well as a central lagoon where nightly son et lumière shows take place.

Separate tickets are required for Global Village’s rides, which range from a carousel, Ferris wheel, roller coaster, and drop tower to a 5D show, a simulator, and a so-called flying theater, which suspends seats in front of a giant curved screen to make riders feel like they are on a hang glider.

Unlike all of Disney’s parks, Global Village is largely outdoors. It is only open in the late afternoon and evening from October to May to protect visitors from Dubai’s intense summer heat.

Over the past three decades, more than 100 million people have visited the park, with attendance hitting a high of 10 million in 2024 before it broke its own record the following year when the total rose to 10.5 million.

The highlights of Global Village are the highly Instagrammable pavilions which feature soaring stylized versions of international landmarks. The entrance to the Japan land is through a giant pagoda, while the Americas is home to a huge mock brick colonial hall with the Statue of Liberty standing in front of it. Even the exotic dishes sold there have become a viral sensation, including cheese and steak croissants from France and Italian cheesecakes made from Kinder Eggs.

Remarkably, on average, more people stream through the turnstiles of Global Village than the Magic Kingdom despite it being open for only about half as many days and for substantially fewer hours each day.

Such is its popularity that it is the only one of Dubai’s theme parks that re-opened during the war in the Middle East earlier this year after the conflict forced it to close. It was only shut for 51 days and re-opened on April 20 following video pleas from fans.

So why isn’t Global Village on the official list?

Photo by Waleed Zain/Anadolu Agency via Getty Images

Even though Global Village is only open for around 60% of the year, its annual attendance is still higher than Disney’s Animal Kingdom park in Orlando, Hong Kong Disneyland, Universal Studios Florida, and Universal Studios Hollywood, which are all open year-round. Global Village should be in 12th place on the TEA’s list but, despite its impressive attendance, it doesn’t appear on it at all.

“We are very familiar with Global Village and have both visited and tracked its performance over the years,” said Edward Shaw, principal of Entertainment + Culture Advisors, the consultancy firm behind the TEA’s data, when asked about the omission.

“It has been very successful and has evolved and developed more permanent infrastructure with that success, as well as extended its season from 2-3 months to now a 7-month seasonal venue. A lot of the entertainment such as country pavilions are still temporary, though, and get changed every year. Therefore, historically, we have not considered Global Village to be a theme park in the traditional sense, with a core of major attraction and rides behind a single ticketed gate, but more of a multi-cultural festival/fairground that also has pay-as-you-go rides.”

However, other parks on the TEA’s list are also seasonal and have tickets which don’t cover all the attractions. Global Village’s website describes itself as a theme park and, crucially, the International Association of Amusement Parks and Attractions (IAAPA), acknowledges this. The TEA’s methodology simply states that “for a theme park or water park to be included in the report, at a minimum the property must be gated (entry ticket required),” which certainly applies to Global Village.

Phil Taylor, managing director of local industry experts Team Leisure Consulting said that Global Village’s evolution may explain its omission, as it was far from a theme park just a few decades ago. “It most certainly couldn’t be described as a theme park in those days, nor when it was first held on the current site in 2005 but there’s no doubt that its adoption over the years of more and more theme park storytelling techniques has progressively moved the attraction firmly into the theme park category.”

He adds that “Global Village has definitely now become one of the best performing theme parks in the world and is most certainly worthy of being included in the TEA lists.” Shaw said, “We continuously review our categories and the facilities that merit inclusion and will continue to do so for Global Village in the coming years.” Time will tell whether it has a magic touch.

This story was originally featured on Fortune.com

This post was originally published here. 

In 2017, it looked as if the tech world had seen the last of Travis Kalanick. Following a spate of scandals and allegations ranging from sexism to corporate espionage, Uber’s own investors took the extraordinary step of forcing the CEO out of the firm he cofounded.

Kalanick’s ouster also signaled a bigger cultural shift. As the epilogue of Super Pumped, the definitive account of Uber’s chaotic early days by tech journalist Mike Isaac, put it: “Change had indeed come to the Valley. With the fading of characters like … Kalanick, the backslapping bro culture of Silicon Valley’s aught era is now seen as passé.”

That may have felt true in 2019, when the book was released, but since then much has changed. Now, after nearly a decade of self-imposed exile, Travis Kalanick is back—not contrite, not chastened, and not especially interested in accepting his critics’ moral verdict on his tenure at Uber.

It seems to be working for him. He has a multibillion-dollar industrial robotics venture, the backing of a powerful new set of patrons, and an increasingly receptive audience of young founders who see his downfall as less a reckoning than a cautionary tale about what happens when Silicon Valley lets investors, journalists, and cultural politics constrain its most forceful builders. Nearly a decade after Uber’s board pushed him out, Kalanick is seen by his admirers as a victim of “corporate cancel culture,” a founder who was unjustly removed before he could finish the job.

In a recent series of video appearances, Kalanick doesn’t seem to have changed much. His hair and beard are gray, and there are new lines in his handsome face, but his affect is the same: charismatic and hypercompetitive, with intense dark eyes that can convey both charm and menace.

Since his ouster, Kalanick has acquired legendary status among a new crop of up-and-coming founders. Some go so far as to compare him to another iconoclast who was forced out of his own company. “He’s the Steve Jobs for founders of my generation,” says Kush Bavaria, who has raised $33 million for his AI data startup Ornn. Bavaria added that young entrepreneurs revere Kalanick for notching the rarest of achievements—building a company like Google or Airbnb whose name has become a verb.

Many in Silicon Valley’s VC establishment are offering Kalanick a full-throated welcome back into the sunshine, too. “It takes a rare kind of entrepreneur to change these old-school, heavy parts of our economy,” Ben Horowitz—whose influential venture capital firm, Andreessen Horowitz (a16z), is backing Kalanick’s company, Atoms—wrote in a recent blog post. “Travis is that guy.”

Kalanick himself declined to be interviewed for this story. His closest confidants have also closed ranks around him, but it’s easy to surmise his view from a slew of recent podcast interviews: The Valley got woke, and in its rush to exile leaders deemed toxic or “brilliant jerks” in the #MeToo era, it got soft. It ousted visionaries who built paradigm-shifting companies, to the ecosystem’s detriment. And now that Kalanick is back, he’s bringing with him the grinding “founder’s mode” ethos that built Uber.

Strikingly absent from Kalanick’s recounting of his story: any note of regret or apology. “I continue to stand by every decision I made at Uber,” he said in a video released by a16z, blaming his defenestration on “extreme wokeness.”

Bradley Tusk, a prominent political operative and early investor in Uber, concurred. “What is it he should apologize for?” Tusk asks rhetorically. “Why does he need to turn over a new leaf?”

“What is it he should apologize for? Why does he need to turn over a new leaf?”Bradley Tusk, founder of Tusk Ventures


Whether you regard Kalanick’s return with delight or disgust, the basic facts of his downfall are not in dispute: Kalanick and cofounder Garrett Camp launched their startup in 2009 and, by means of aggressive marketing and a win-at-all-costs growth strategy, rapidly built the world’s leading ride-sharing platform.

As Uber grew, however, so did tales of ruthlessness and bad behavior. They included allegations of a misogynistic, boozy corporate culture that failed to hold managers accountable for harassment. Reports also began to trickle out of covert programs with code names like “Greyball” and “Hell” that used underhanded methods to sabotage regulators and competition. The company also faced scrutiny over passenger safety and driver vetting, especially after a rider was raped by an Uber driver in Delhi in 2014 and reports emerged that senior executives had mishandled the victim’s confidential medical records. (Not all these allegations involved Kalanick directly, but critics argued that his scorched-earth leadership style created the conditions and culture for such behavior to happen.)

The company’s reputation took a further hit in early 2017 when one of its former engineers, Susan Fowler, published a detailed memo describing a culture of impunity for high-performing managers, including one who she said sexually harassed her. The memo from Fowler, who declined to comment for this story, jolted Uber’s board, and it commissioned an independent investigation led by former U.S. Attorney General Eric Holder. The full contents of what became known as “the Holder report” have remained under wraps, but its recommendations, which became public, included guidelines on alcohol and drug use, and a prohibition on relationships with subordinates.

“What is it he should apologize for? Why does he need to turn over a new leaf?”

Bradley Tusk, founder of Tusk Ventures

All of this created a public relations mess for Uber, and also a financial one, with investors muttering about a “Travis premium” that depressed the value of the company at a time when it needed to go public. In response, one of Uber’s biggest venture backers, Benchmark, decided that Kalanick had to be replaced with a CEO who could fix the company’s culture and get its fiscal house in order.

The prominent Benchmark partner Bill Gurley was known as the architect of the putsch, but he did not act alone. The dump-Travis coalition also included financial giant Fidelity and other venture capital firms including Menlo Ventures. Together, the faction devised a legal strategy and persuaded a critical number of board members to depose Kalanick—who fought back frantically. The board eventually replaced him with the former head of Expedia, Dara Khosrowshahi, who is still Uber’s CEO. (Uber declined to comment for this story.)

The corporate drama was a huge business story, but the decision to push out Kalanick was not particularly controversial at the time. The prevailing reaction in the media, and among many in Silicon Valley, was that Kalanick’s demise was self-inflicted and long overdue, and that Uber would flourish under a more even-keeled chief executive.

That assessment was not universal. Some viewed the decision of venture capitalists to turn on one of their founders as a betrayal, while others were simply uncomfortable with how the ouster went down. It involved Gurley dispatching two other Benchmark partners who blindsided Kalanick with a resignation letter and instructed him to sign it the same day. The ultimatum came 11 days after the Uber founder had buried his mother, who had died in a boating accident that also badly injured his father.

A Silicon Valley figure who knows Kalanick well says the experience had a profound and permanent effect on how he views the world—framing the traumatic sequence of events as Kalanick’s “Marvel supervillain” origin story. “With Elon, it was when Biden chose not to invite him to a big White House EV summit and chose Mary Barra instead,” the person opined. “With Travis, it was when they forced him out right after the tragedy with his parents.”

Whether the reputation is deserved or not, there’s no question that Kalanick acquired supervillain status in the broader cultural imagination. In 2022, Showtime released a TV series based on Super Pumped, starring Joseph Gordon-Levitt as a boorish, bombastic, and deeply unlikable Kalanick. (Gordon-Levitt himself has said that he played Kalanick as an “Icarus” character driven by ambition for profit, who was driven to become a “mad dog.”) When Time chose the “Silence Breakers” of the #MeToo movement for its 2017 Person of the Year, the magazine photographed Uber engineer Susan Fowler as one of five women, including Taylor Swift and Ashley Judd, for the cover.

There were also allegations of retaliation against journalists who were critical of Kalanick and Uber. Sarah Lacy, founder of the tech industry blog PandoDaily (later Pando), had accused the company of “sexism and misogyny” in a 2014 column, and urged readers to follow her example by deleting their Uber accounts. An Uber executive later mused to a group of journalists that the company could spend $1 million to look into “your personal lives, your families” and, in the case of Lacy, prove a specific rumor about her private life.

Asked about Kalanick’s return to the spotlight, Lacy expressed weary dismay. “There are many people in tech who would never want to work with him,” she said. “It’s not a monolith. But for those who do, I think the Trump era has given everyone cover that they don’t have to care.”

Kalanick, when he was still CEO of Uber, photographed in 2016 at a conference on innovation in Amsterdam.
Bloomberg via Getty Images

Far from appearing contrite about his part in the Uber meltdown, in recent podcasts Kalanick recalls some of that era’s skulduggery with the air of a nostalgic scamp. “We had this thing against Lyft where we would recruit their drivers,” Kalanick said with a laugh during the a16z interview. “We would aggressively do it, and we had a program for it internally, which we called ‘Shoplifting.’ ”

Allies say Kalanick’s conduct was mischaracterized at Uber, and argue that he is not personally sexist. Tusk, the early Uber investor, describes Kalanick as generous with his time, money, and mentorship, and more self-reflective than he lets on. “I don’t think he’s a different person at all,” he said. “But you know, of course, he learned from what he went through.”

Indeed, on another podcast, Kalanick indicated that he has done some soul-searching, telling interviewer David Senra, “The problem was, I ran too close to the line … When you are big and important, the scrutiny and the expectation is that you don’t run that close to the line, even if it’s correct. And that is a thing I definitely did not understand.”


In May of 2019, less than two years after Kalanick was forced out of Uber, Khosrowshahi achieved what he had not: an IPO. Kalanick, who had unloaded around a third of his shares to a private investor in 2018, sold the rest six months after the IPO for a pretax haul of roughly $4 billion.

While Kalanick’s media appearances ceased after his ouster, his business activities did not. Over the next nine years, he laid the groundwork for what became Atoms: buying real estate to create food delivery hubs; developing AI and robotic technology; and acquiring a mining venture run by his former top lieutenant at Uber, Anthony Levandowski. Kalanick has also tapped into his formidable network, raising large sums from Saudi investors and pursuing commercial partnerships, including a culinary tie-up with actor and wellness entrepreneur Gwyneth Paltrow and her Goop brand.

As Kalanick maneuvered to rebuild his business empire, he also seized on a new opportunity to rehabilitate his public image: the rise of an ecosystem of founder-friendly podcasts and vodcasts. These outlets are generally unabashedly pro-tech and give no truck to what many in Silicon Valley view as the pearl-clutching pieties of traditional news outlets. During one episode, the hosts of the popular TBPN podcast asked the Uber cofounder for his autograph.

“Unfortunately, tech bros are always rehabilitated. Especially if they’ve returned billions.”

Sarah Lacy, former tech journalist

It’s part of a larger sea change during the second Trump administration—an era of CEO jujitsu matches, tech leaders at Mar-a-Lago dinners, and UFC fights on the White House lawn. And now that Elon Musk owns the social media platform previously known as Twitter, Kalanick pointed out on a recent episode of TBPN, social media has become a safer space for swashbuckling tech leaders: “You’re allowed to be optimistic about things, where maybe before everything had to be negative.”

As he makes the rounds of the tech podcast circuit, the Uber founder is not only laying out the future of Atoms, but building an alternate mythology around himself. In the new telling, Kalanick’s ouster from Uber stands not as a cautionary tale, but as one step in his hero’s journey. And in this version the villain of the Uber story is not Kalanick but venture capitalist Bill Gurley.

For decades, Gurley was one of the most influential figures in Silicon Valley, but in recent years, his and Benchmark’s role in Kalanick’s ouster from Uber has made him a figure of contempt for some—including the TBPN hosts who, on a recent episode, debated whether founders “who remain reluctant to forgive Benchmark” should consider accepting investment from the firm now that Gurley and several others have left. The TBPN hosts speculate that Uber’s present-day value would be infinitely higher if Gurley and Benchmark had left Kalanick in the CEO seat.

One former senior Uber executive finds the anti-Gurley narrative absurd. “It’s possible to be both pro-Travis and pro-Gurley,” the executive told Fortune, adding that blame for the company’s 2017 crack-up does not lie primarily with either man, but instead was the result of the financial strains that came with waiting too long to go public. Gurley did not reply to requests for comment.

The flip side of the anti-Gurley narrative is praise for Kalanick’s current backers at a16z. The opening sizzle reel of an elaborate PR set piece that includes Horowitz’s “Travis Is Back” blog post and a lengthy interview with Kalanick features the Uber founder declaring that 2017 “would not have gone down that way if Ben or Marc [Andreessen] had been on the board.” (a16z declined to comment for this story.)

One Silicon Valley operative chalks up Kalanick’s return to the rise of the so-called manosphere: “TBPN, Scott Galloway, the Tate brothers, it’s all the same message: ‘Men have been wronged and canceled unfairly for just wanting to say things like, “She’s hot.” ’ We overly corrected, and now the pendulum is way the other way. What was heresy is now, ‘He’s just a rebel.’ ”

And, the operative suggests, the publicity blast seems designed to work on several levels: Filtering the news of Kalanick’s return entirely through the friendly lens of tech podcasts was not just a tactical PR decision; it was also an effective way to ensure that AI large language models, when ingesting information about Kalanick and Atoms, would be primed on positive content.

In the view of Sarah Lacy, the former journalist who became a bête noire for Uber executives, Kalanick’s VC-assisted media tour is just the latest example of a familiar playbook. “Unfortunately, tech bros are always rehabilitated,” she wrote in an email. “Especially if they’ve returned billions in capital. Frankly, it shows how unpopular he was that it took this long.”


If you place a food delivery order in an American city these days, there is a good chance your driver will pick it up from a nondescript warehouse or unmarked counter. These facilities, known as “ghost kitchens,” began popping up around 2019—and Kalanick was behind many of them.

CloudKitchens, his food delivery infrastructure business that has since been folded into Atoms, was Kalanick’s first phase in a plan to rebuild his empire and to “do to the kitchen what Uber did to the car.” In the near future, he says, his operation will use AI and robotics to cook and deliver meals without any human intervention. With courier robots bringing burritos to one’s door, he argues, there’ll be no need to go to the grocery store.

Atoms has raised $1.7 billion in equity financing led by a16z, in addition to previous investment in CloudKitchens likely in the hundreds of millions. The company did not disclose a total valuation.

On podcasts, Kalanick has framed the endeavor as part of a “second industrial revolution” and, while hailing Elon Musk as the “greatest of all time” when it comes to physical AI and robotics, pronounced himself the “baby GOAT” of the field. His boast carries some weight, given that Kalanick was able to solve the myriad logistical, technical, and political challenges required to dislodge the taxi lobby when he was at Uber.

And while it remains to be seen whether he can scale his vision for Atoms beyond food preparation and delivery, Kalanick has attracted a growing fan base—mostly young men—who treat it as an article of faith that he can.

Kalanick’s emergence as an aspirational figure has come about not just from tales of his accomplishments, but from his active mentorship of young entrepreneurs. Among his protégés is Shayne Coplan, the mercurial founder of prediction platform Polymarket, who told me during a fraught legal period for the company in late 2024 that Kalanick was one of the few people who had provided him with useful guidance to navigate the ordeal. (Coplan, like other close associates of Kalanick, did not respond to requests for comment for this story.)

Several people who know Kalanick well told me that his desire to mentor is sincere, and described him as generous with his time and money. “He would say to a founder, ‘Hey, I’m going to be in Shanghai,’ or ‘I’m going to be in Munich,’ or ‘I’m going to be in São Paulo. Come with me,’ ” says Tusk the venture capitalist.

Some see other motives. “He’s kind of Trumpian in this way,” said a person who worked with Kalanick for years and asked not to be identified in order to preserve his professional relationships. “He likes being surrounded by people who are his boys. He has always, as long as I’ve known him, flown all his friends places to hang out, and it’s great! I’ve been on many of those. It’s kind of like buying friends.”

It’s a safe bet that Kalanick doesn’t care if people hold such opinions of him. And nor do his acolytes for whom Kalanick is not just a generational entrepreneur but the coolest guy around—someone who takes you waterskiing at the lake near his mansion in Austin, or invites you to hang at his other pad in Bel Air.

The cachet surrounding Kalanick has been further burnished by the vogue in Silicon Valley for an ethos known as “founder mode.” The term was popularized in 2024 when the influential investor Paul Graham used it as the title of an essay extolling a speech by a Kalanick contemporary, Airbnb cofounder Brian Chesky. Chesky had spoken of how startup founders must be wary of having their vision clouded by the executives and advisors who surround them, and be unafraid to follow their instincts for any decision, small or large, that affects the company.

Kalanick epitomizes founder mode, and for his younger fans, the ethos represents not only a personal achievement but the promise of freedom—a license to be independent, ambitious, and outspoken. “If you’re a young person in Silicon Valley, why can’t you just say things?” says a former top Uber executive, channeling how a twentysomething founder might describe the mindset. “I’m going to say what I think and be who I am.”

In this era of economic pessimism and dysfunctional governments, Kalanick embodies something else for young entrepreneurs: hope and excitement about the future. Like many other tech founders, Kalanick is a devotee of the polymath science fiction writer Isaac Asimov, and views his vocation as an entrepreneur with a cosmic sense of adventure. He evokes a future that seems infused with excitement and meaning.

Whether you see him as a hero or a villain, Kalanick’s main-character energy can be irresistible, as the late tech writer Om Malik wrote in an essay published after Kalanick announced the launch of Atoms this spring.

“He knows how to do bombast right,” wrote Malik. “And he knows how to play the victim right. He has the right quotes. And he knows how to stumble over himself. In short, a media person has to love Kalanick.”

Given that flair for self-mythology, it should really be no surprise that Kalanick is back, Malik wrote: “It was only a matter of time.”

This article appears in the October/November 2026 issue of  Fortune with the headline “Travis Kalanick is back and Silicon Valley’s prodigal son isn’t sorry.”

This story was originally featured on Fortune.com

This post was originally published here. 

Just as the Trump administration has retreated from supporting higher education institutions, billionaire philanthropists have jumped in. MacKenzie Scott has donated more than $1 billion collectively to HBCUs, and Nike cofounder Phil Knight just made the largest known donation to a public flagship university. 

The University of Oregon, where Knight graduated in 1959, announced Wednesday that the Nike cofounder and his wife, Penny, had committed a whopping $1 billion to establish an engineering college there. The New York Times reported it was an unexpected gift from the Knights, having surfaced from an unscheduled call.

Like other Oregon campus facilities, the new engineering school will be named in honor of the Knights. The gift brings the couple’s total commitment to the Knight Campus to more than $2 billion, including two earlier $500 million gifts (one in 2016 and one in 2021) to help expand the university’s scientific research complex. 

The new gift will allow Oregon, which now offers only engineering minors and graduate programs, to build a full undergraduate engineering program. Officials told the NYT the process will take about a decade. Bob Guldberg, a UO vice president and bioengineering professor, told the paper that the program could help ease the state’s shortage of engineers.

“This extraordinary gift is an endorsement of what higher education delivers,” Karl Scholz, president of the University of Oregon, told Fortune. “It gives us the ability to scale innovation, accelerate impact, and meet the demand for skilled engineering required by the industries of tomorrow, all without placing that financial burden on state taxpayers.”

They’ve also made several gifts connected to athletics at Oregon, including $100 million to construct the university’s basketball arena in honor of their late son, Matthew Knight. Thanks to Knight, Oregon has strong ties to the athletics retailer, with athletes there having access to new and exclusive gear and unique NIL (name, image, and likeness monetization) support. For those reasons, some people refer to the school as the “University of Nike.” (There’s even a book about it.)

The pledge also caps a major philanthropic stretch for the Knights. Just last week, the couple committed $1.1 billion to Providence St. Vincent Medical Center and Providence Heart Institute in Portland, and last year they gave $2 billion to OHSU’s Knight Cancer Institute. Knight, 88, is worth nearly $23 billion, according to Bloomberg.

The timing of the Knights’ gift

The Knights’ historic gift lands as federal support for universities is in doubt. In early 2025, the Trump administration laid off thousands at federal science agencies, slowed grant payments to colleges, and tried to cut funding for the overhead costs of research. It also pulled back DEI grants. 

The White House’s fiscal 2026 budget request also sought a nearly 36% cut to non-defense-related science research and development funding, including a cut of nearly 57% at the National Science Foundation and more than 40% at the NIH. However, Congress has largely rejected Trump and kept science funding mostly consistent. 

The administration hasn’t backed off. Its fiscal 2027 proposal again proposes cuts to scientific research and education programs, and officials have said they want more research funding to go directly to individual students and researchers, shifting away from academic institutions. 

“The president’s proposed cuts to NASA and the research agencies of the Department of Energy would hobble the broader American scientific enterprise at a crucial time when dominance in emerging technologies like artificial intelligence and quantum computing is essential to keeping Americans safe and prosperous,” the Association of American Universities, which lobbies on behalf of major research universities, said in a statement.

That’s where the Knights are stepping in.

“To make an audacious dream a reality requires more than a vivid imagination. It also requires the sort of opportunity that our great American universities, both public and private, have historically provided,” Phil Knight said in a statement. “This is no time to abandon them.”

“Penny and I are grateful for the chance to invest in our most promising young people’s future in this important way,” he continued. 

This story was originally featured on Fortune.com

This post was originally published here. 

China keeps growing its share of global cargo sales, indicating the Trump administration’s tariffs meant to punish the country are instead an obstacle that China has successfully navigated.

China now accounts for 40% of the world’s container exports on a rolling three-month basis, a 2.5% increase from nine months ago and its highest-ever levels, Jens Eskelund, president of the European Union Chamber of Commerce in China, told the Financial Times on Tuesday.

For Europe, China’s swelling share of global shipments represents a growing trade imbalance between the continents, Eskelund warned. As more cheaper goods from China flood European markets, European manufacturers are squeezed out, and the continent loses out on global market share for exports and China sells its goods for cheap elsewhere.

The U.S. is facing a similar fate, harkening back to the “China Shock” of the early 2000s, representing a surge of Chinese products on American shelves following its entry into the World Trade Organization, throttling U.S. manufacturing and leaving pockets of America with massive job losses and stagnant wages. Economists predict the impending “China Shock 2.0” will extend beyond retail shelves to technology like AI infrastructure and electric vehicles.

“China really is becoming the workshop of the world,” Jeremi Suri, a public affairs and history professor at the University of Texas at Austin, told Fortune. “And what that means is that almost every global economy is one way or another dependent on China.”

What’s troubling to economists and policy experts is how the U.S. got here. While China’s path to becoming a global export behemoth has been decades in the making, President Donald Trump’s trade philosophy of inundating China with import taxes may be, in large part, to blame for this more recent shift.

Trump and Chinese President Xi Jinping will meet for a two-day summit beginning on Wednesday.

“The tariff policies of the last two years have been an unmitigated disaster,” Suri said. “They have made exactly what we’re talking about worse for the United States.”

How did tariffs pave the way for China’s growing container export share?

Part of China’s rise to power in trades comes from a natural cycle. The U.S. began transitioning from a manufacturing economy to a service economy in the 1950s—and by the 1970s, China had meanwhile ended its isolationist policies like high tariffs and cemented its role in global trade when it joined the WTO 25 years ago. Buoyed by an undervalued currency, Chinese firms can charge up to 30% less than other countries to export goods, leading to a glut of production to be sold overseas.

But tariffs may have exacerbated China’s motivations to increase exports, as the import taxes have shut China out of parts of the U.S. market, forcing Chinese exporters to find markets elsewhere. The levies have also encouraged China to partake in the practice of transshipments, a form of tariff dodging in which the country exports intermediate parts to countries with lower tariffs rates to be assembled and sold to the U.S. with fewer import taxes. Last month, the White House released a report claiming the U.S. lost between $19 billion to $26 billion in tax revenue from transshipments, with China being the primary culprit. The Trump administration has broadened the definition of transshipments, however, including goods linked to China, or where China plays a role in a product’s supply chain.

Suri expects this trend of China branching out to other countries for trade to continue, not just as a means of evading the worst of the tariffs, but because U.S. trade policy has ruined America’s credibility as a reliable trade partner. 

“We use trade for power, but we can’t presume that those levers will be as meaningful going forward,” Suri said. “With tariffs, we’re pushing countries further away more quickly.”

Is China the winner of Trump’s tariffs?

China’s growing share of worldwide cargo shipments may not be a clearcut victory for the country against Trump’s tariffs, however. That sum isn’t necessarily an indicator China is becoming a larger power in global trade. Transshipments and diversions are a response to changes in trade landscapes and not necessarily a net increase in the share of global trade, according to Andrew Greenland, a professor of economics at North Carolina State University specializing in U.S. tariff policy. 

“I’m not saying that China isn’t growing in prominence,” Greenland told Fortune. “But the fact that they’re showing up as having more shipments, for example, could be consistent with any of those mechanisms.”

To Greenland, the increased shipments are more a sign China has found ways to adapt to U.S. tariffs, though it isn’t necessarily benefitting from the levies yet. There was nothing prohibiting China from diversifying trading partners or engaging in transshipments before the tariffs were imposed, leading Greenland to believe these changes in shipping behaviors have “got to be an adjustment that’s not necessarily making things better” for China.

But should tariffs continue to erode trade relationships between the U.S. and the rest of the world, China’s inroads in diversifying its own trade partners could position it as an even greater trade power in the future. Is it good for China to figure out its export markets, conditional on the U.S. becoming a less stable business partner?

“Yeah,” he said. “It’s good that they’ve been able to find places to send things that have not just meant sitting on excess supply.”

This story was originally featured on Fortune.com

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Vietnam’s long-awaited upgrade to emerging market status is an “important milestone” for the country, experts say, yet they also warn that the inflow of foreign money will go toward companies that bear little resemblance to the country’s export-manufacturing economy.

On Sept. 21, Vietnamese stocks entered FTSE Russell’s emerging market ranks, capping a years-long effort by the Southeast Asian country to meet the index provider’s criteria.

“Vietnam’s upgrade to emerging market status is an important milestone,” says Anh Tran, a finance professor at the Bayes Business School at City St George’s, University of London. “It serves as external validation of the country’s economic development and financial market reforms, and places Vietnam within the universe of institutional investors that either benchmark against or track FTSE emerging market indices.”

This upgrade puts Vietnam alongside four other Southeast Asian countries—Thailand, Malaysia, Indonesia, and the Philippines—which the index provider has classified as “emerging” markets. Investors often use FTSE’s and MSCI’s benchmarks to guide their investment decisions; the upgrade could channel $6 billion in capital from foreign investors to Vietnamese companies.

“General Secretary To Lam once said that a global financial hub cannot rely solely on domestic liquidity or traditional administrative frameworks,” explains Nguyen Luong Hai Khoi, a researcher and academic at the University of Oregon. “Instead, it requires a modernized capital market as its foundation.” Vietnam hopes to raise $76 billion a year through its capital markets by 2030, reducing its dependence on bank credit. 

Vietnam had to reform its market regulations to win FTSE’s approval. The Ho Chi Minh Stock Exchange worked with South Korea’s stock market to launch a new trading system. Vietnam also eased some foreign ownership limits and pushed companies to disclose more information in English.

“The FTSE upgrade is an important opportunity, rather than an endpoint,” says Thu Phuong Pham, an associate professor of finance at Australia’s Curtin University. “Its longer-term benefits will depend on the continued development of market infrastructure and arrangements that support efficient and transparent trading.”

A mismatch

As part of the upgrade, FTSE also added 27 Vietnamese companies, including Masan Group, VietJet Aviation, and Gelex Group, to its global index. Their inclusion makes some of Vietnam’s largest companies more visible to global asset managers.

Yet how much that visibility translates into investment is another question.

“Index money follows the rules of the index, not the shape of the economy,” Hanh Le, a finance lecturer at Vietnam’s RMIT University, explains. 

Vietnam reported 8.2% growth in the first half of 2026, its strongest performance in 15 years, primarily due to strength in export-oriented sectors like electronics and metals. Exports rose over 20% in the first seven months of the year, despite a 20% U.S. tariff on Vietnamese goods. 

“Vietnam grows on foreign-invested manufacturing and exports, but very little of that is listed,” Le continues. “What passes FTSE’s tests for size, liquidity and free float is overwhelmingly financial: 15 of the 27 companies in the basket are banks or securities firms.”

And of the 27 names, only six—Vietcombank, Vingroup, Vinhomes, BIDV, VP Bank and Hoa Phat—were added to the FTSE All-World Index, one of the most widely-tracked indices.

“Even within those six, ownership caps and thin free float limit how much foreigners can buy: only banks that absorbed weaker lenders can now go to 49%, and state-controlled Vietcombank is excluded,” Le adds. 

What Hanoi must do next

For all the fanfare of Vietnam’s upgrade, the VN-Index, the country’s benchmark index, dropped by 0.9% on Sept. 21, and trading turnover on the Ho Chi Minh City Stock Exchange plunged 33% from the previous Friday. The VN-Index is currently down about 2% for the week.

To capture and retain foreign investors, experts say Vietnam still needs to improve market infrastructure, transparency and quality. Nguyen points to corporate reporting in English, clearing frameworks aligned with international standards, and policies steering capital into high-tech manufacturing, all areas where Vietnam still lags behind more mature emerging markets.

The bigger risk may be concentration. “Six companies carry the foreign story, and Vingroup and Vinhomes alone accounted for most of the index’s gains last year,” says Le. “That is a market that is easy to exit.” (In fact, foreign investors have been net sellers of Vietnamese stocks since 2022)

Notably, MSCI—another index provider—still classifies Vietnam as a frontier market, citing the country’s continued limits on foreign ownership. 

“The MSCI’s requirements are distinctly more stringent,” concludes Nguyen. “The FTSE is a crucial psychological and operational stepping stone, but an MSCI upgrade would require a separate, heavier set of institutional reforms.”

This story was originally featured on Fortune.com

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Pakistan conducted airstrikes on 10 locations in Afghanistan that it said were being used to launch and store drones, some of which had been used against Pakistan a day earlier, Information Minister Attaullah Tarar said on Thursday.

The strikes come as tensions escalate between the allies-turned-foes, who have long been at odds over attacks by Islamist militants, which also triggered their worst fighting in years in February.

Islamabad accuses Kabul of harboring militants who stage cross-border attacks, but Afghanistan’s Taliban government denies harboring anti-Pakistani insurgents and says militancy is Pakistan’s internal problem.

Pakistan’s air defense systems detected drones launched from Afghan territory on Wednesday, which were tracked and neutralized before they could reach any of their intended targets, Tarar said in a post on X/Twitter.

Pakistan then conducted the “precision aerial and drone strikes” on 10 locations, which were “limited to identified military objectives” linked to the attempted attacks, he said.

Afghan Taliban will be met with ‘firm and resolute response’

“Any further provocative act by Afghan Taliban will be responded with firm and resolute response,” the minister said.

The Pakistani airstrikes were conducted in several areas of the southeastern Khost province, Mustaghfir Gurbaz, spokesperson for the Khost governor, said.

There were no casualties, he said.

An attack on a police facility in northwestern Pakistan last week, which killed at least 24 people, has reignited fighting between the countries after nearly three months of relative calm.

Pakistan’s government earlier this week also said it had launched airstrikes in the Afghanistan-Pakistan border region, killing 28 militants, while Afghan Taliban officials accused Islamabad of killing three civilians in overnight strikes on Afghan territory.

The worst single incident, however, occurred in March, when more than 400 people were killed in a Pakistani airstrike on Kabul, which the Afghan Taliban said hit a drug rehabilitation center.

Islamabad denied the charge, saying it “precisely targeted military installations and terrorist support infrastructure.”

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A tunnel at least 25 meters deep that was still under excavation was uncovered in Qalqilya on Wednesday during an operation by Israel Police and Border Police officers, police said. The officers also found the start of another excavation nearby, along with weapons and other equipment. Police arrested four suspects and took them for questioning.

Officers from the Samaria District crime-fighting unit and Border Police discovered the tunnel during a targeted intelligence operation in the West Bank. The officers entered Qalqilya and searched a location identified through intelligence. During the operation, they found the tunnel, which police said reaches a depth of at least 25 meters.

During the search, officers seized an M16 rifle, a sniper rifle, ammunition, and magazines. They also found phones, a DVR device, and fertilizer, a substance that police said could be used to prepare explosive devices. Police arrested four suspects found at the site and took them for further questioning.

Police said operations against such infrastructure would continue.

“Israel Police will continue to act proactively to uncover excavation infrastructure and weapons in the Samaria area, locate those involved and bring them to justice,” police said.

Serious security incident endangering Israeli citizens

The discovery of the tunnel raised concern among heads of local authorities near the seam line. Kfar Saba Mayor Rafi Saar described the incident as “serious” and said it demonstrated what he viewed as the danger facing residents of the area.

“This is not a theoretical warning, this is a security reality that requires determined action,” Saar said.

Drom Hasharon Regional Council head Oshrat Gani Gonen also warned about the significance of the findings.

“A tunnel near Qalqilya is an incident that cannot simply be ignored,” she said. “This is further evidence that the threat to seam-line communities is becoming increasingly established just across the fence.”

Gani Gonen also referred to the weapons and other threats in the area.

‘Meters from our homes’: Tunnel, drones, weapons

“We are looking at what is happening meters from our homes: a tunnel, drones, weapons, and terrorist infrastructure. As far as we are concerned, every one of these things is the crossing of a red line.”

She said the events of October 7 required a change in the way such threats are addressed.

“No one can afford anymore to close their eyes to incidents like these, minimize them or settle for saying that the area is under control. The responsibility is to identify the threat before it becomes a disaster.”

The council head added that local authorities in the area had, in her words, been forced for years to fight for funding for security systems in seam-line communities.

“This danger is not theoretical. It is right before our eyes. The seam line is a front, and it must be treated as a front, with forces, equipment, technology, and budgets. This has to happen now, not after the next incident.”

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The Organization for Economic Co-operation and Development (OECD) cut its forecast for Turkey’s economic growth in 2026 to just 2.7% on Thursday, below the 3% threshold and the country’s lowest growth rate since 2020, as the economic fallout from the war in Iran and rising energy and fertilizer prices weigh on the outlook.

The organization, which published its latest economic outlook under the title “Navigating Successive Shocks,” also lowered Turkey’s 2027 growth forecast to 3.6%. In its previous forecast, the OECD had projected growth of 3.1% in 2026 and 3.8% in 2027.

Despite pressure from energy and fertilizer prices, the OECD expects Turkey’s disinflation process to continue, with inflation projected at 31.5% in 2026 and 24.7% in 2027. At the same time, monetary policy easing in emerging economies such as Turkey and Brazil is expected to support economic growth.

Globally, the organization slightly raised its 2026 economic growth forecast to 2.9%, up 0.1 percentage points from its June projection, after the global economy expanded by 3.4% in 2025.

Global economies remain strong despite Middle East conflicts

Although growth slowed in the first half of the year, many economies remained resilient despite geopolitical risks in the Middle East, while the growing strength of artificial intelligence continued to support investment, manufacturing, and trade.

The US economy is projected to grow by 2.2% in 2026 and 2.1% in 2027. The eurozone is expected to grow by just 1% in each of those years, while China’s economy is forecast to expand by 4.5% in 2026 and 4.2% in 2027.

India is expected to post the highest growth rate this year, at 7.8%, followed by Indonesia at 5.2%. Saudi Arabia, by contrast, is projected to record the sharpest contraction, shrinking by 1.8% following a decline in oil production and exports against the backdrop of the war in the Middle East.

The OECD warned that the global economic outlook depends largely on reaching a sustainable resolution to the war in the Middle East. Production bottlenecks have increased refinery margins and put pressure on consumer prices.

At the same time, energy and agricultural commodity prices have remained high, partly because of supply disruptions linked to extreme weather.

The organization said significant uncertainty continues to hang over its forecasts, particularly in energy markets. Global inflation is expected to accelerate in the short term before moderating in 2027. While a rapid normalization could ease pressure on the economy, further prolonged disruptions could push prices higher and constrain economic growth.

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No regulator filed the Veterans United case, that is the whole story

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Two senior officials at the heart of Iran’s military and national security establishment are among the eight people set to face trial in absentia over their alleged roles in the 1994 terrorist bombing of the AMIA Jewish community center in Buenos Aires. 

Argentine Federal Judge Daniel Rafecas issued the 648-page ruling Monday, formally processing the suspects and ordering an asset freeze of up to $500 million for each. The ruling attributes different roles to the suspects, ranging from senior Iranian officials who allegedly made and facilitated the decision to carry out the attack to individuals accused of providing diplomatic and operational support.

Ahmad Vahidi, the current commander-in-chief of Iran’s Islamic Revolutionary Guard Corps, and Mohsen Rezaei, secretary of Iran’s Supreme National Security Council, are among seven Iranian citizens and one Lebanese national formally charged in the case.

The other defendants are former Iranian intelligence minister Ali Fallahian; former foreign minister Ali Akbar Velayati; former Iranian diplomat Hadi Soleimanpour; former cultural attaché in Buenos Aires Mohsen Rabbani; former embassy official Ahmad Reza Asghari; and alleged Hezbollah operative Salman Raouf Salman, also known as Samuel Salman El Reda.

The judge charged the defendants with aggravated homicide and injuries motivated by racial or religious hatred. He classified the bombing as both a crime against humanity and an act of genocide.

Deadliest terrorist attack in Argentine history

The July 18, 1994 bombing of the AMIA building killed 85 people and injured over 300, remaining the deadliest terrorist attack in Argentine history.

The ruling was handed down after almost seven months of Iran’s war with the US and Israel, with the Islamic Republic’s nuclear program at the center of international debate.

Argentine President Javier Milei, known for his pro-Israel views, noted the prosecution in his remarks Wednesday at the annual United Nations General Assembly and placed it in the context of the threat he said Iran poses to the West.

“We have also made a geopolitical choice: We have aligned ourselves unequivocally with the West, with the United States and with Israel, countries with which we share a deep affinity of values and strategic complementarity,” he said.  “That is why we condemn the Iranian regime’s attacks on the State of Israel, we have designated Iran’s Revolutionary Guard as a terrorist organization, and continue to seek justice for the two attacks carried out on Argentine soil in 1992 and 1994.” 

The indictments followed a unanimous ruling also on Monday by the federal appeals court upholding the constitutionality of applying Argentina’s trial-in-absentia law⁠ to the AMIA case. The legislation, enacted in 2025, allows proceedings involving terrorism and crimes against humanity to continue when defendants deliberately evade Argentine justice.

The Jewish umbrella organization DAIA welcomed the decision. “Thirty-two years after the bombing of the AMIA-DAIA building, Argentina’s courts have taken a major step in the pursuit of truth and justice,” it said in a post on X/Twitter. The post featured photos of the suspects formally charged by an Argentine judge under the headline “Historic Event.”

AMIA, in a statement posted Tuesday, said the decision marks “a decisive milestone in establishing the truth about the worst terrorist attack suffered by our country.” The trial date has not yet been set, but experts quoted by Argentine media estimate that it will take place next year. It would be the first trial in absentia in Argentina’s history.

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American defense technology company Ondas is continuing to expand its operations in Israel and has signed an agreement to acquire three defense technology businesses for a total of $56 million.

The acquisitions of Insignito, Ottopia Defense and Caribou Labs will expand the company’s integrated autonomous defense systems platform by adding resilient communications and remote control for unmanned systems, as well as navigation and communication capabilities for environments where GPS and other systems are disrupted.

Ondas said the deal is intended to strengthen its “systems‑of‑systems” approach, combining sensing, connectivity, navigation, and autonomy across aerial and ground systems.

“These acquisitions reflect our strategy of assembling the critical technologies required to make autonomous systems more capable, resilient, and scalable in contested environments,” said Eric Brock, chairman and CEO of Ondas Inc. “Together, these businesses give Ondas more to sell and more ways to win.”

The three acquired companies collectively add acoustic sensing, resilient communications, and GPS‑independent navigation technologies to Ondas’ portfolio. 

Integration plans

The acquisitions are part of Ondas’ broader push to build a vertically integrated defense technology company spanning the development, manufacturing, and deployment of autonomous systems. Its portfolio includes autonomous drones, counter-UAS systems, robotic ground platforms, unmanned aircraft, and systems for intelligence, surveillance, and reconnaissance missions.

Insignito’s systems include passive acoustic tools capable of detecting and classifying drones that evade radar; Ottopia provides communications and teleoperation software designed to maintain real‑time links with unmanned platforms in degraded or bandwidth‑limited environments; and Caribou provides positioning and identification technologies built for GPS‑denied or electronic‑warfare conditions. 

Several of these capabilities are already deployed in active conflict zones.

Ondas said it intends to integrate the three companies’ technologies across its existing platforms. The company said the combined capabilities will support development of more resilient autonomous systems and expand opportunities across defense and security markets.

“Our shared vision is to enable unmanned military power at scale: autonomous systems working together across domains, with people commanding, supervising, and intervening when needed. Joining Ondas gives us the opportunity to bring that vision to a very, very broad range of platforms and missions,” Amit Rosenzweig, CEO of Ottopia Defense, wrote on LinkedIn.

Ondas said the $56 million purchase price that will be paid in cash or stock represents less than three times the expected 2027 revenue of the businesses. Earnout payments of up to $32 million may be made through 2028 if performance milestones are met.

The company also issued inducement equity awards to 37 employees joining Ondas through the acquisitions. The grants include 2.98 million restricted stock units with varying vesting schedules and 80,000 stock options priced at $7.72 per share.

Founded over a decade ago in the United States, Ondas has been on a buying spree of Israeli defense companies over the past year, acquiring over a dozen companies in the military robotics and drones fields.

Last week, it acquired Israel’s Gate Technologies and its Polish manufacturing partner, Bron Technologies, which specialize in developing and manufacturing electronic devices and advanced electronic fuzing systems for munitions. The deal, valued at approximately $205 million, expands the company’s portfolio beyond robotics and drones.

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A federal judge ordered US President Donald Trump on Thursday to restore White House access for journalists from CNN, MS NOW and Politico, saying his ban on the three media outlets was likely unconstitutional.

In a major setback for Trump in one of his biggest battles with the media, US District Judge Tim Kelly issued his order in a lawsuit that the news organizations filed contesting the ban that the Republican president announced on September 18.

Kelly ordered the Trump administration to immediately return the outlets’ press passes and blocked officials from enforcing the ban for 14 days. The judge rejected the government’s assertion that the ban was motivated by national security concerns.

“The record lacks factual support for defendants’ contention that the revocation of plaintiffs’ hard passes will in fact protect national security or that national security will be endangered if the court orders their passes reinstated while this litigation proceeds,” he said, adding that Trump himself had stated the ban was due to “alleged lack of truthfulness and negativity” of the outlets’ reporting.

The White House and representatives for the outlets did not immediately respond to requests for comment.

Outlets banned by White House sued Trump over First Amendment protections

Trump had said on social media that the three outlets “shouldn’t be able to constantly write or report FICTION and LIES,” and Justice Department lawyers had sought to justify the ban on national security grounds.

The three outlets sued Trump and other members of his administration in federal court in Washington on Monday, saying the ban violated the US Constitution’s First Amendment protections for free speech and a free press, as well as their due process rights. They requested a temporary restraining order that would immediately reinstate their White House access while their legal challenge plays out.

The legal battle has unfolded just weeks before the November 3 midterm elections in which Trump’s fellow Republicans are fighting to retain control of Congress. Trump’s job approval ratings are at record lows in opinion polls amid concerns over issues such as the Iran war and inflation.

Kelly said at a Wednesday hearing that two precedents from the US Court of Appeals for the District of Columbia Circuit made clear that journalists are entitled to due process before their White House press passes can be revoked. The judge added that it did not appear that the White House had given the targeted news outlets a meaningful opportunity to contest the revocation of their access.

Access to the White House: A privilege or a right?

A lawyer for the news outlets told Kelly that they were banned without legally required advance notice or opportunity to contest the decisions, which he said were unprecedented, unreasonable and severe punishments.

A Justice Department lawyer told the judge the Trump administration provided a sufficient explanation for the revocation of the press passes in letters sent to the news outlets on Tuesday. But the judge signaled skepticism of that argument, noting that the letters were sent after the revocation occurred and the lawsuit was filed.

In a legal filing on Tuesday, the Justice Department argued that access to the White House is a privilege, not an entitlement, and that the president has the authority to suspend access by news organizations.

A coalition of press freedom groups and dozens of news organizations filed a legal brief on Wednesday supporting the three news outlets. They asserted that “stripping journalists and news outlets of their rights because of perceived editorial viewpoint violates decades of Supreme Court jurisprudence.”

The brief was signed by the Reporters Committee for Freedom of the Press, Reuters, the Washington Post, and Fox News, among others.

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Hundreds of members of New York’s Jewish community competed against standstill traffic, security details and dozens of black SUVs Wednesday night to reach Dag Hammarskjöld Plaza near the United Nations. 

Their plea? For world leaders at the global body’s annual UN General Assembly to take antisemitic violence seriously.

“This week world leaders are gathered in our city, right down the street at the United Nations, to discuss global challenges,” Eric Goldstein, CEO of the UJA-Federation of New York, said in his opening remarks. “But we know that they are not addressing the rampant proliferation of antisemitism across the world.”

Organized by UJA and the Jewish Community Relations Council of New York, the evening rally featured a number of interfaith speakers, as well as survivors of various antisemitic hate crimes around the world from Nova to Bondi Beach.

Devorah Halberstam, whose son Ari was murdered on the Brooklyn Bridge in 1994 in a terror attack, gave an impassioned speech, imploring world leaders to “tell your people: Take this message back to your countries. Antisemitism must stop. Not tomorrow. Not when it becomes politically expedient. Right now.”

‘Deliberate passivity in the face of antisemitism’

A number of speakers Wednesday night criticized New York City Mayor Zohran Mamdani, questioning whether he could truly be a mayor to New York City’s Jews who fundamentally disagree with him on Israel. Anti-Defamation League CEO Jonathan Greenblatt called out a more general “deliberate passivity in the face of antisemitism,” likening it to complicity. 

Also speaking Wednesday was George Zamot, a UPS driver who intervened in July’s stabbing attack on the Upper West Side, in which a Jewish man and an Asian man were injured.

While some speakers focused on the dangers of antisemitism, a few addressed moments of community that resulted from such terrible events. 

In a display of unity, Nova music festival survivor Shalev Biton gave remarks while also translating the remarks of Younes Alkarnawi, the Bedouin man who saved his life.

The rally’s audience dwindled as the evening wore on, and a small group of counterprotestors from the anti-Zionist group Neturei Karta became increasingly loud.

The demonstration follows recent public gatherings addressing antisemitism in New York City, including a prayer vigil held last week by two Orthodox Jewish day schools outside Gracie Mansion, the mayor’s official residence. 

It also marks a pivot toward more community advocacy within the scope of UJA’s work. (70 Faces Media, the parent company of the Jewish Telegraphic Agency and New York Jewish Week, receives UJA funding.) 

In an interview earlier this week with eJewishPhilanthropy, UJA’s executive vice president for community strategy and external relations, Hindy Poupko, called the Wednesday evening rally “an attempt to ensure that our narrative doesn’t get drowned out during this UN week.”

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Around 66,000 residents now live in the Tekuma region, approximately 5,000 more than on the eve of the October 7 massacre three years ago, according to figures published by the Tekuma Directorate on Thursday.

The increase in the Tekuma region – made up of Sderot, Eshkol, Sha’ar HaNegev, Sdot Negev, and Chof – represents growth of about 10%, at a rate 2.5 times the national average, while more than 90% of the region’s residents have already returned to their communities.

Alongside the return of residents who were evacuated, thousands of new residents have moved to the region since October 7. Sderot, the largest city in the area, now has a population of around 40,000. The Tekuma Directorate has set a goal of doubling the region’s population by 2033.

Most of the evacuated communities have already returned to their homes, but the process is still underway in four communities. In Kissufim, more than 96% of residents have returned, while the return to Holit began at the end of August. Residents of Kfar Aza are expected to begin returning at the end of September.

In Be’eri, the return is expected to begin at the end of December and continue through July 2027. The kibbutz’s reconstruction budget stands at NIS 473 million and includes the renovation of hundreds of residential and public buildings, alongside the construction of new housing units.

Reconstruction of Nir Oz continues ahead of residents’ 2027 return

Reconstruction and construction work is continuing in Nir Oz ahead of the residents’ expected return during 2027. The reconstruction budget stands at NIS 232 million. So far, 10 new housing units have been built and around 30 others renovated, with dozens of additional units planned for construction.

Around NIS 57 million has been allocated for the reconstruction of Holit. The work includes the rehabilitation and renovation of 110 residential and public buildings, as well as upgrades to water, sewage, and electricity infrastructure.

In Kfar Aza, the reconstruction budget stands at NIS 211 million. Under the plan, around 280 buildings are being renovated, and 98 housing units are being rebuilt.

The multi-year plan for the rehabilitation and development of the Tekuma region totals approximately NIS 17 billion. By the end of 2025, NIS 11.6 billion had been committed in practice, with a further NIS 2.8 billion earmarked for commitment during 2026. Around NIS 3.18 billion was allocated to reconstruction and the return of residents, including funding for temporary housing.

Homes, security, education, healthcare funded

Alongside the reconstruction of homes and communities, funding has also been allocated to security, education, and healthcare. By the end of June 2026, around NIS 880 million had been invested in security, including upgrades to fences, gates, protective systems, and community defense arrangements.

Around NIS 1 billion has been invested in education, while more than NIS 466 million had been invested in healthcare by the end of 2025.

Tekuma Directorate head Aviad Friedman said that alongside the continuing reconstruction work, the goal was to generate further growth in the region.

“Our mission is to create the conditions that will allow the region to continue rehabilitating, growing, and attracting new residents,” he said.

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European stocks fell Thursday as rising oil prices and stubbornly high bond yields increased costs for businesses across the continent, although energy producers moved higher because they stand to earn more when crude becomes expensive.

The pan-European Stoxx 600 was down 0.59% at 636.15 points shortly after the opening. Most national markets were also lower. Energy shares gained 0.84%, making the sector one of the strongest performers while aerospace and defense stocks led the broader declines.

The verified market report did not establish that the Stoxx 600 had erased its loss. The index may have moved after the reported level, but describing a complete recovery without a confirmed price would risk giving readers an inaccurate picture.

Oil was the market’s main pressure point. Brent crude, the international benchmark, held above $100 a barrel as prices advanced for a second consecutive session following five days of declines.

The increase came as communications between U.S. and Iranian officials on the sidelines of the United Nations General Assembly produced little visible progress toward ending the conflict. Continued uncertainty surrounding regional production and shipping has kept a geopolitical premium embedded in energy prices.

For oil producers and refiners, that premium can translate into stronger revenue and wider margins. For much of the rest of Europe’s economy, it means higher costs.

Airlines pay more for jet fuel. Trucking and delivery companies face larger diesel bills. Manufacturers spend more on transportation, electricity and petroleum-based materials. If businesses pass those expenses along, consumers eventually encounter them in prices for travel, food and manufactured goods.

That divide explains why energy shares could rise even while the broader market weakened.

“Oil volatility is likely to continue in the near term,” Gordon Kerr, European macro strategist at KBRA, told Reuters. He pointed to the reopening of a Saudi Arabian pipeline as a positive development but cautioned that the broader supply picture was not settled.

European bond markets reflected the same inflation concern. Germany’s 10-year government-bond yield, the principal benchmark for eurozone borrowing costs, held near 3.547%, just below the 17-year high reached the previous week.

Higher yields increase financing costs for governments, homebuyers and companies. They can also weigh on stocks because investors can earn more from relatively safer bonds, reducing their willingness to pay high prices for corporate earnings.

Oil remaining above $100 could reinforce expectations that the European Central Bank will keep monetary policy tight or raise rates again. That would place additional pressure on property companies, homebuilders and other businesses dependent on affordable financing.

Company-specific developments added to the uneven trading.

Shelly Group rose about 4.4% after Schneider Electric said it intended to make a €1.2 billion, or approximately $1.4 billion, takeover bid for the Bulgarian smart-device company.

British homebuilder Vistry fell about 9% after reducing its annual profit expectations while undertaking a strategic overhaul. The decline highlighted the pressure higher borrowing costs are placing on housing demand and construction economics.

H&M dropped about 3% even after reporting stronger third-quarter profitability. The Swedish retailer said operating profit increased to 6.04 billion Swedish kronor from 4.91 billion kronor, while its operating margin improved to 10.6% from 8.6%.

H&M attributed the improvement partly to purchasing, cost controls and more efficient operations. However, investors continued looking for stronger sales growth. Quarterly revenue increased only slightly to 57.19 billion kronor, while local-currency sales rose 1%.

The retailer also said inventory increased partly because more merchandise was in transit amid global supply-chain disruptions and consolidation work within its European logistics network. That matters because excess or delayed inventory can force retailers to discount products, reducing the benefit of improved operating efficiency.

Investors were also monitoring talks in Washington between President Donald Trump and Chinese President Xi Jinping. Treasury Secretary Scott Bessent said the countries had agreed to extend their trade truce until Jan. 10.

The discussions were expected to cover trade, Taiwan, Iran and artificial intelligence. A durable trade arrangement could benefit European manufacturers and luxury-goods companies that depend on Chinese demand, although any reported agreement will require confirmation and specific implementation details before its economic effect can be measured.

For American households and investors, Europe’s market pressures are not isolated. Oil above $100 can lift U.S. gasoline, diesel and shipping costs, while higher global bond yields can contribute to more expensive mortgages and corporate borrowing. Americans with international funds in retirement accounts also have direct exposure to European shares.

The immediate question is whether higher oil prices continue lifting energy companies without causing deeper damage elsewhere. If crude keeps climbing and bond yields remain near multiyear highs, pressure is likely to spread to transportation, retail, housing and other rate-sensitive industries.

JBizNews Desk | London

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