BlackRock’s Chan on Asia Market Strategy.
Steady UK Assets Dodge Global Volatility
Graham Platner, anti-Israel progressive, sews up Democratic Senate nomination in Maine
Graham Platner, the anti-Israel progressive who took Maine’s political establishment by storm this spring, has officially prevailed in his state’s Democratic Senate primary.
Multiple news outlets called the race within 90 minutes of the polls closing, with only a fraction of the votes counted.
The victory was seen as a foregone conclusion after Platner’s primary opponent, Gov. Janet Mills, suspended her candidacy in late April, saying her campaign could not afford to continue.
Still, the final tally suggested that not all Mainers had embraced the political neophyte whose campaign was dogged by controversies, including the revelation that Platner had a Nazi Totenkopf tattoo on his chest for nearly two decades until he drew criticism for it on the campaign trail. He denied knowing it was a Nazi symbol.
Mills, who remained on the ballot, drew about one in five votes in the first 10% of ballots counted, according to the tally published by The New York Times.
Platner to face off against Republican Sen. Susan Collins
The result sets Platner up to face off in November against incumbent Republican Sen. Susan Collins, who has received substantial support from pro-Israel donors. The latest polls suggest a tight race.
“I’m humbled and proud to officially be your Democratic nominee for the US Senate to take on Susan Collins and the billionaire class she represents. Together, we will win this seat back for working Mainers,” Platner tweeted on Tuesday night. “Thank you, Maine.”’
Platner recently drew allegations of antisemitism
While Democratic leaders officially threw their support behind Platner after Mills halted her campaign, many of them remained circumspect about him. Their balancing act grew more delicate in the final days of the primary race, as Platner drew allegations of antisemitism over his characterization of donations channeled to Collins by the pro-Israel lobby AIPAC and as he faced new allegations of misconduct toward women. (He said he had been a “far from perfect boyfriend” during some periods of his life but denied engaging in misconduct.)
Now, top Democrats will have to decide how hard to gun for Platner, who has become a standard-bearer in the party’s anti-Israel shift at a time when the chamber is narrowly divided.
They are already facing pressure to disavow him. “Chuck Schumer, the highest-ranking Jewish elected official in America, and every Senate Democrat propping up Platner’s campaign, should be ashamed,” the Republican Jewish Coalition said in a statement after the polls closed. “Their continued support of Graham Platner, who wore the symbol of Hitler’s SS on his chest for 18 years is an outrage. Schumer must withdraw his support immediately.”
Elizabeth Warren On Trump Family’s ‘Staggering $2.3 Billion Fortune’: Crypto Legislation Needs To Stop ‘Massive Conflict Of Interest’
Sen. Elizabeth Warren (D-Mass.) called for legislation on Tuesday to address what she described as a conflict of interest arising from President Donald Trump and his family’s cryptocurrency ventures.
Warren Wants Ethics Guardrails
Warren cited a Reuters report on X, estimating that the first family has earned approximately $2.3 billion from cryptocurrency-related activities since Trump’s return to the White House.
“Any crypto legislation needs to stop the massive conflict of interests posed by Donald Trump and his family’s crypto ventures,” Warren said.
Adam Kinzinger, a former Republican congressman and a Trump critic, quoted the report with the caption, “Corrupt animals.”
Michael Saylor’s Strategy To Go Bankrupt This Year? Crypto Punters Aren’t Betting On That Outcome Despite Bitcoin Sale
Strategy Inc. (NASDAQ:MSTR) may not be having the best of times, but cryptocurrency punters still view the prospect of the Bitcoin (CRYPTO: BTC) hoarding giant going bankrupt as unlikely.
Is Strategy Safe?
Traders on Polygon (CRYPTO: POL)-based Polymarket assigned a 10% chance to Strategy declaring bankruptcy in 2026, down from 12% at the beginning of the year.
The bet has seen limited participation as of this writing, attracting slightly more than $162,000 in wagers.
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RETALIATION UNLEASHED: Iran Claims Strikes on 21 U.S. Targets, Jeopardizing Global Energy Markets and Trade
Iran’s Islamic Revolutionary Guard Corps claimed Wednesday, in a statement carried by Iranian state media, that it had struck 21 U.S. military targets across the region — including what it described as an F-35 fighter-jet base in Jordan and multiple U.S. command facilities — in retaliation for recent American strikes near the Strait of Hormuz. The claims have not been independently verified, and U.S. officials have reported a far more limited impact.
For investors and businesses, however, the immediate issue is not the disputed battlefield accounts. It is that the escalation arrived just as markets had begun betting the conflict was cooling.
That optimism had already been reflected in oil prices. In recent days, traders had pushed crude lower on hopes that a fragile ceasefire would hold and that diplomatic efforts could eventually ease pressure on one of the world’s most important energy corridors. Brent crude, the global benchmark, had retreated from recent highs as investors priced in the possibility of reduced tensions.
Wednesday’s developments threaten to reverse that trend.
The gap between the competing narratives remains significant. Iran claimed it destroyed four of the 21 targets, including an F-35 hangar, and said it shot down an American drone. The U.S. military said it intercepted multiple incoming missiles, while regional governments reported defensive actions against aerial threats. Reports of military activity emerged from several locations, but casualty and damage figures remain unconfirmed.
In short, Iran is presenting the operation as a major success. The U.S. and its partners are describing a largely contained attack. Independent verification may take days.
Markets, however, do not wait for complete information.
The reason energy traders reacted quickly is simple: geography. The Strait of Hormuz carries roughly 20% of global oil and natural-gas shipments, making it one of the most strategically important waterways in the world. Any threat to shipping through the strait raises fears of supply disruptions and higher energy prices.
Both the recent U.S. strikes and Iran’s claimed retaliation occurred near infrastructure tied to the Gulf energy network. That has kept investors focused on the possibility that the conflict could affect the movement of oil, liquefied natural gas, and refined fuels.
The pattern throughout the conflict has been familiar. Periods of diplomatic optimism have pushed energy prices lower, only for renewed military activity to bring risk premiums back into the market. Traders have repeatedly shifted between pricing in de-escalation and preparing for wider regional instability.
The economic consequences extend well beyond energy markets.
The countries cited in Iran’s claims — Bahrain, Kuwait, and Jordan — play important roles in regional aviation, finance, logistics, and military operations. Previous rounds of fighting led to temporary airspace closures, flight disruptions, and higher insurance costs for commercial shipping.
If tensions continue rising, airlines, cargo operators, and importers could face additional expenses. Those costs often move through supply chains and eventually reach consumers through higher prices on goods and services.
A broader conflict could also drive increased spending on missile-defense systems, military equipment, and regional security infrastructure, creating additional fiscal burdens for governments already coping with elevated defense budgets.
For American households, the most visible impact remains energy. Rising crude prices typically lead to more expensive gasoline, diesel, and jet fuel. Transportation companies, airlines, and freight operators feel the effects first, but consumers generally see them later through higher travel and shipping costs.
There are important reasons for caution before drawing conclusions.
Iran’s claims regarding the scale of damage remain unverified. U.S. and allied accounts suggest many incoming threats were intercepted. Markets have also shown a tendency to recover quickly when diplomatic channels reopen or when energy infrastructure remains intact.
At the same time, factors such as increased OPEC+ production and softer demand growth from major economies have helped prevent even larger price spikes during the conflict.
The bottom line is straightforward: regardless of the ultimate damage assessment, military exchanges around the world’s most important oil corridor continue to inject uncertainty into global markets.
Until the security of the Strait of Hormuz becomes clearer and the risk of further escalation recedes, investors, businesses, and consumers are likely to remain focused on one question above all others: what happens next to energy prices?
JBizNews Desk — Middle East
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Tehran Targets Bahrain, Kuwait and Jordan After U.S. Strikes Iranian Assets
Iran’s Islamic Revolutionary Guard Corps said Wednesday that it had launched attacks on U.S. military bases in Bahrain, Kuwait, and Jordan, describing the operation as retaliation for recent American strikes on Iranian ports and islands near the Strait of Hormuz. The claims were carried by Iranian state media and had not been independently verified at the time of publication.
For businesses and consumers far from the Gulf, the immediate concern is not only the military escalation but its potential effect on global energy markets.
The reason is geography. The Strait of Hormuz is one of the world’s most important energy chokepoints, carrying roughly one-fifth of global oil and natural-gas shipments. Any disruption around the waterway can quickly affect oil prices, shipping costs, airline operations, and ultimately consumer prices around the world.
Here is what is confirmed and what remains disputed.
Iran claimed it struck the U.S. Fifth Fleet headquarters in Bahrain, Ali Al Salem Air Base in Kuwait, and an air base near Azraq, Jordan, saying a total of 21 U.S. targets were involved. Those claims have not been independently verified.
Meanwhile, the U.S. military said it intercepted multiple Iranian missiles over Jordan. Kuwaiti authorities reported intercepting what they described as hostile aerial targets, while warning sirens sounded in parts of the country. Various media outlets also reported apparent military activity near installations in Bahrain. As of publication, no independently verified casualty figures had been released.
The reported U.S. strikes that preceded Iran’s response were concentrated near key locations around the Strait of Hormuz, including areas near Qeshm Island, Bandar Abbas, and Jask. Bandar Abbas serves as one of Iran’s most strategically important naval facilities and sits near the entrance to the strait.
The market implications are significant because both sides are now operating around infrastructure and waterways central to global energy flows.
Before the latest escalation, oil prices had been easing amid hopes that regional tensions might stabilize. Brent crude, the international benchmark, had retreated from earlier highs as investors cautiously anticipated a reduction in military activity.
A renewed exchange of attacks could quickly reverse that trend.
Even during periods of relative calm, energy markets remained sensitive because shipping through the Gulf region had already been disrupted by months of conflict and security concerns. Any additional threat to tanker traffic raises fears about supply interruptions and higher transportation costs.
Several factors have helped prevent even larger price increases. OPEC+ recently approved additional production increases, adding supply to the market despite ongoing geopolitical risks. At the same time, weaker demand growth from major importers, including China, has reduced some of the upward pressure on prices.
Those offsets, however, may not be enough if the conflict expands further.
The economic effects reach well beyond oil traders. Bahrain, Kuwait, and other Gulf states serve as major hubs for aviation, shipping, logistics, and financial services. Previous rounds of fighting led to airspace restrictions, flight cancellations, and increased insurance costs for commercial vessels.
If those disruptions intensify, businesses could face higher transportation expenses and longer delivery times, costs that often work their way through supply chains and eventually reach consumers.
For American households, the most visible impact would likely come through fuel prices. Higher crude-oil prices generally translate into more expensive gasoline, diesel, and jet fuel. Businesses that rely heavily on transportation and freight typically feel those increases first, followed by consumers.
The broader concern for markets is that military activity is occurring directly around one of the world’s most critical energy corridors. Investors, airlines, shipping companies, and commodity traders will be watching closely for signs of either further escalation or renewed diplomatic efforts.
For now, uncertainty remains high. Whether energy prices rise sharply from here will depend on the scale of the military response, the security of shipping routes through the Strait of Hormuz, and whether regional powers can prevent the conflict from expanding further.
JBizNews Desk — Middle East
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Academy, GameStop, and Oracle: This Week’s Earnings to Watch
A sporting-goods retailer, a video-game chain, and one of the world’s largest software companies may seem unrelated. Yet together their earnings reports this week offer a valuable snapshot of where consumers are spending money and how aggressively businesses continue investing in artificial intelligence.
The reports arrive at a time when investors are trying to determine whether consumer spending remains resilient and whether the AI boom still has room to grow.
Academy Sports and Outdoors Reports Strong Results
Academy Sports and Outdoors reported earnings before the opening bell on Tuesday, June 9, delivering results that modestly exceeded Wall Street expectations.
The company earned $0.93 per share during the quarter ended May 2, topping analyst estimates of $0.91 per share. Revenue climbed 6.7% to $1.44 billion.
Management also projected full-year earnings between $6.40 and $6.80 per share on revenue ranging from $6.2 billion to $6.4 billion.
The results suggest that consumers continue spending on outdoor recreation, sports equipment, camping, fishing, and related activities despite broader concerns about inflation and household budgets.
GameStop Faces Questions About Its Future
GameStop is scheduled to report after the market closes on Tuesday, June 9.
The company’s financial results are important, but investors appear far more interested in management’s long-term plans.
Under Ryan Cohen, GameStop has accumulated a significant cash position while continuing to search for new opportunities beyond traditional video-game retailing. Investors are closely watching for updates regarding capital allocation, acquisitions, and the company’s recently authorized $2 billion share repurchase program.
The central question remains whether GameStop can successfully reinvent itself as the gaming industry increasingly shifts toward digital downloads and subscription services.
Oracle Becomes a Test of AI Demand
Among the week’s reports, Oracle’s earnings on Wednesday, June 10, may carry the broadest market implications.
Oracle has become a key supplier of cloud infrastructure used to train and operate artificial-intelligence systems. As a result, its results increasingly serve as a barometer for enterprise AI spending.
Investors will focus heavily on cloud revenue growth, new AI-related contracts, and the company’s backlog of signed business waiting to be delivered.
Strong results would reinforce the belief that corporations continue investing heavily in AI infrastructure. Weak results could fuel concerns that the pace of spending is beginning to slow.
Taken together, these earnings reports tell a larger story about the economy.
Academy measures consumer willingness to spend on discretionary purchases. GameStop reflects the challenges facing traditional retailers in a digital world. Oracle provides insight into one of the fastest-growing segments of the technology industry.
The bottom line: investors are looking for answers about both Main Street and Silicon Valley. This week’s earnings reports could provide important clues about where consumers are spending and whether the AI investment boom remains as strong as markets believe.
JBizNews Desk — Markets & Technology
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‘Does he want to continue?’ Trump questions Netanyahu’s candidacy in upcoming Knesset elections
US President Donald Trump called into question whether or not Prime Minister Benjamin Netanyahu would run for reelection in the upcoming Knesset elections, according to a Tuesday report from ABC News Chief Washington Correspondent Jonathan Karl.
“He’s had an amazing career,” Trump told Karl in a phone call. “Does he want to continue? Because, you know, he’s a wartime prime minister.”
“We will very shortly win the war one way or the other,” Trump continued, “and you know he’s a wartime prime minister.”
“That’s ok,” he added, “just like I’m a wartime president.”
Trump told Netanyahu not to escalate with Iran or else ‘you could be left alone very soon’
The US president also recently told Israel’s Channel 12 about a conversation he had with Netanyahu in light of tensions between Israel and Iran.
“I told Bibi, you’d better be careful what you do, because you could be left alone against Iran very soon,” Trump said.
On Sunday, Trump asked Netanyahu to avoid striking Iran in retaliation for the recent Iranian missile attack on Israel. That conversation ended without a clear agreement, and Netanyahu did not tell Trump his final decision on the matter, according to a Monday report by Channel 12.
Netanyahu ‘won’t have any choice’ but to accept Iran deal, Trump tells FT
The US president also told the Financial Times on Sunday that Netanyahu “won’t have any choice” but to accept a deal with Iran.
“I call the shots. I call all the shots,” said Trump. “He doesn’t call the shots.”
‘Together, we will bring safety to the North’
Netanyahu released a pre-recorded press statement on Monday evening, in which he confirmed that he and Trump were in contact but did not go into detail.
“I told Trump: ‘Together, we will bring safety to the North,” Netanyahu said.
Netanyahu’s coalition criticizes cancellation of Lebanon strikes after Trump’s intervention
The latest round of Iranian missile attacks on Israel came immediately after IDF strikes on Dahiyeh, a suburb of Beirut, in Lebanon on Sunday.
One week earlier, the prime minister came under fire for Israel’s decision to cancel an earlier round of strikes on Beirut at Trump’s behest.
National Security Minister Itamar Ben-Gvir, a partner in Netanyahu’s coalition, sharply criticized the move, stating that “This is the time to tell our friend, President Trump – ‘no’.”
Former IDF chief of staff and Yashar! Party leader Gadi Eisenkot called Trump’s directive “a humiliating demand, one that is blatantly unreasonable.”
Opposition leader Yair Lapid accused Netanyahu of behaving as though Israel were a protectorate state of the US.
Keshet Neev and Danya Saperstein contributed to this report.
Fallen soldier Capt. Shahar Gamla donates organs, saving six patients simultaneously
Capt. Shahar Gamla, 23, was critically injured by an explosive drone in Lebanon and later died from his injuries at Rambam Hospital in Haifa, the military announced on Saturday.
Following confirmation of his death, his family requested that his organs be donated, enabling several patients awaiting transplants to be saved or see their conditions improved.
According to the National Transplant Center, the transplants took place on Sunday at multiple hospitals. Gamla’s heart was transplanted into a 54-year-old man at Rabin Medical Center-Beilinson Campus in Petah Tikva, and his lungs were transplanted into a 47-year-old man at the same hospital.
His liver was transplanted into a 69-year-old man at Ichilov Hospital in Tel Aviv, while a liver lobe was transplanted into a 7-year-old girl at Schneider Children’s Medical Center. His kidneys were transplanted into a 37-year-old man and a 72-year-old woman at Beilinson.
Gamla’s corneas have not yet been transplanted, and his skin was donated to the National Skin Bank, which treats burn victims. Post-mortem skin donation is used in cases of severe burns or other skin injuries, providing temporary or therapeutic coverage for large areas of the skin.
‘There is nothing greater than organ donation’
Leah, Shahar’s mother, said after the organ donation: “There is nothing greater than organ donation; it lets Shahar live on in other people. With joy and great love.”
Bitcoin, Ethereum, XRP Slide, Dogecoin Flat As US Launches ‘Proportional’ Strikes Against Iran: Analyst Sees BTC’s Strong Rebound To $74,000 Soon
Leading cryptocurrencies fell alongside major stock indexes on Tuesday amid a big escalation in the Middle East conflict.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 9:25 p.m. EDT) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -1.68% | $61,757.98 |
| Ethereum (CRYPTO: ETH) |
-1.83% | $1,641.98 |
| XRP (CRYPTO: XRP) | -1.71% | $1.13 |
| Solana (CRYPTO: SOL) | -0.96% | $65.08 |
| Dogecoin (CRYPTO: DOGE) | -0.15% | $0.08487 |
Crypto Market On Edge
Bitcoin revisited the $60,000 floor but recovered overnight, as trading activity climbed 12% in the past 24 hours. Ethereum pulled back to the $1,600 region, while XRP and Dogecoin remained bearish.
Cryptocurrency-related stocks plunged, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing down 8% and 3.86%, respectively.
Over $420 million was liquidated from the market in the last 24 hours, with $324 million in long positions alone wiped out, according to Coinglass data.
Bitcoin’s open interest rose 1.23% in the last 24 hours. A rise in open interest alongside a sliding price typically indicates that new traders are aggressively selling or shorting the asset, expecting the price to fall further.
Top Gainers (24 Hours)
| Cryptocurrency (Market Cap>$100 M) | Gains +/- | Price (Recorded at 9:25 p.m. EDT) |
| Bitway (BTW) | +93.78% | $0.1144 |
| Humanity (H) | +96.30% | $0.1923 |
| Stargate Finance (STG) | +40.89% | $0.3704 |
The global cryptocurrency market capitalization stood …
Major Carl’s Jr operator reportedly set to shutter, sell dozens of California locations
A major Carl’s Jr. franchisee is planning to offload 59 locations across California after filing for bankruptcy protection earlier this year.
Harshad Dharod intends to close 10 restaurants and sell 49 others operating under the Anaheim-born fast-food chain, according to the Los Angeles Times.
Dharod’s Friendly Franchisees Corporation, which touts itself as the largest California-based Carl’s Jr. franchisee, has acquired at least 65 locations since 2000, according to its website.
However, rising operating costs and California’s $20-per-hour fast-food minimum wage have reportedly strained the business, prompting the company to file for Chapter 11 bankruptcy protection in April, the Times reported.
PIZZA HUT TO CLOSE AROUND 250 LOCATIONS
Dharod also blamed what he described as a lack of support and innovation from Carl’s Jr. for the restaurants’ financial struggles, according to the outlet.
Bankruptcy filings reportedly show Dharod’s restaurants generated more than $6 million in monthly revenue while losing more than $600,000 per month in 2026.
Understaffing, workplace injuries and violent encounters with customers also contributed to the restaurants’ challenges, employees told the outlet.
RED LOBSTER TO CLOSE TIMES SQUARE RESTAURANT AFTER MORE THAN 20 YEARS
A spokesperson for Carl’s Jr. previously told Restaurant Business that the restructuring is specific to Dharod’s operations and will not affect other Carl’s Jr. locations.
“We are aware that Carl’s Jr. franchisee Harshad Dharod entities and its affiliates, which together independently own and operate certain Carl’s Jr. restaurants in California, have entered into a court-supervised restructuring process under Chapter 11 of the United States bankruptcy code,” a company representative said in a statement.
“This situation is specific to this individual’s financial and business circumstances.
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According to brokerage firm National Franchise Sales, there is already interest from prospective buyers, the Times reported.
If the locations are sold, operations could continue largely uninterrupted, as employees and managers often remain in place when franchise ownership changes hands.
FOX Business reached out to Carl’s Jr., Harshad Dharod and the Friendly Franchisees Corporation for more information.
SpaceX IPO Draws $250 Billion in Orders, 4 Times Oversubscribed. Can Its $1.8 Trillion Valuation Go Even Higher?
Demand for a piece of Elon Musk’s SpaceX has blown past a quarter of a trillion dollars — far more stock than the company is actually selling. People familiar with the offering said Tuesday, June 9, that orders have topped $250 billion, against the roughly $75 billion the rocket company is trying to raise, putting demand at roughly three-and-a-half to four times the size of the deal.
The obvious question for investors is simple: if this many people want the stock, shouldn’t the valuation go higher?
The surprising answer is that the official IPO valuation probably will not move at all — and the reason comes down to how SpaceX structured the offering.
Why the Price Probably Won’t Change
In a traditional initial public offering, a company announces a price range, investors place orders, and underwriters can raise the final price if demand is exceptionally strong.
More buyers usually means a higher IPO price.
SpaceX is taking a different approach.
The company set a fixed offering price of $135 per share and plans to sell approximately 555.6 million shares, raising about $75 billion and valuing the company at roughly $1.8 trillion.
Because the price is already fixed, the flood of additional demand cannot automatically increase the IPO price or the company’s official valuation before trading begins.
In other words, even if investors wanted twice as many shares as they are currently requesting, the official valuation would still remain around $1.8 trillion.
What Massive Demand Actually Does
Heavy demand still matters.
It affects the deal in several important ways.
1. It Virtually Guarantees the Offering Succeeds
When investors submit orders totaling hundreds of billions of dollars, there is little concern that the company will struggle to sell the shares.
Several large institutional investors are reportedly seeking positions worth $10 billion or more.
Such strong interest also gives underwriters flexibility to exercise a so-called greenshoe option, allowing additional shares to be sold if demand remains strong.
That could increase the amount of money raised, though still at the same $135 share price.
2. Most Investors Will Get Fewer Shares Than They Requested
When an IPO is heavily oversubscribed, investors rarely receive their full allocation.
Large institutions often intentionally place orders larger than they actually expect to receive, anticipating that underwriters will scale allocations back.
As a result, headline demand figures often exceed the amount investors realistically expect to own.
3. The Real Valuation Battle Begins After Trading Starts
This is where things get interesting.
The IPO is expected to price on Thursday, June 11, with trading beginning the following day.
Investors who are unable to buy as many shares as they wanted during the offering may rush into the open market once trading begins.
If enough buyers compete for the stock, the share price could rise above the IPO price almost immediately.
That would push SpaceX’s market value above $1.8 trillion even though the company itself would not receive additional money.
The increase would come from investor demand in the public market rather than from a change in the IPO pricing.
Does Strong Demand Prove the Valuation Is Fair?
Not necessarily.
Market veterans point out that many of the hottest IPOs are several times oversubscribed before pricing.
Strong demand shows that investors want exposure to the company.
It does not automatically prove the valuation is justified.
At the IPO price, SpaceX would enter public markets with a valuation approaching $1.8 trillion, despite reporting approximately $18.7 billion in revenue last year and continuing to post significant losses.
Whether the company ultimately grows into that valuation remains one of the biggest questions facing investors.
Why Investors Are So Excited
The demand reflects a belief that SpaceX is much more than a rocket-launch provider.
The company’s pitch centers on three major growth areas:
- Space launch services
- The rapidly expanding Starlink satellite internet business
- Future artificial intelligence opportunities tied to space-based computing infrastructure
According to people familiar with the roadshow, SpaceX has highlighted a potential $23 trillion market opportunity related to future AI applications supported by space infrastructure.
Musk has reportedly participated in investor video calls, while President Gwynne Shotwell and Chief Financial Officer Bret Johnsen met with investors during roadshow events organized by Morgan Stanley.
Could the IPO Affect the Rest of the Stock Market?
Some analysts believe it already may be.
The Nasdaq Composite fell again Tuesday following its sharpest decline in more than a year, prompting speculation that some investors may be selling existing holdings to free up cash for the SpaceX offering.
Large IPOs can temporarily pull billions of dollars away from other stocks as investors reposition their portfolios.
Whether that is happening here remains a subject of debate, but the sheer size of the offering makes it a possibility.
The Bottom Line
The headline figure of $250 billion in demand is real, but it does not mean SpaceX has increased its IPO price.
The fixed $135-per-share offering keeps the company’s official valuation near $1.8 trillion.
The real test comes when trading begins.
If investors who were unable to secure shares in the IPO rush into the open market, they could quickly push the stock higher and lift SpaceX above its already staggering valuation.
The longer-term question is even bigger: can a company built on rockets, satellite internet, and ambitious AI plans eventually justify a valuation approaching — or perhaps exceeding — $2 trillion?
JBizNews Desk — Markets
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New York Now Requires Labels on AI-Generated People in Ads
Businesses advertising in New York now face a new compliance requirement as artificial intelligence rapidly changes the marketing industry. Starting Tuesday, companies must clearly disclose when an advertisement uses an AI-generated person instead of a real actor, under what Governor Kathy Hochul’s office calls a first-in-the-nation law aimed at increasing transparency in advertising.
The law requires a conspicuous label whenever an ad features what New York legally defines as a “synthetic performer.” The state describes that as digitally created media designed to appear as a real person. According to Hochul’s office, the rule applies across virtually all advertising formats, including television, social media, streaming services, websites, and digital advertising.
The goal is simple: consumers should know whether the person promoting a product is real or computer-generated.
For businesses, the stakes are financial. Companies that fail to disclose the use of AI-generated people face civil penalties of $1,000 for a first violation and $5,000 for each subsequent violation. Responsibility falls on both brands and the agencies producing advertisements, meaning companies cannot simply outsource compliance to vendors.
The legislation, known as S.8420-A / A.8887-B, was sponsored by State Senator Joseph Addabbo Jr. and signed into law on December 11, 2025. Lawmakers provided a 180-day implementation period before the rule officially took effect.
The law arrives as AI tools rapidly transform advertising. AI video platforms can now generate realistic people in minutes, allowing advertisers to reduce costs associated with hiring actors, booking studios, and producing traditional commercials.
Importantly, New York is not banning the use of AI-generated people in advertising. Instead, it is requiring advertisers to disclose when they are using them.
That distinction sits at the center of a broader debate within the advertising and entertainment industries.
One of the law’s strongest supporters was SAG-AFTRA, the union representing actors and performers. The organization has spent the past several years pushing for protections against the replacement of human performers with digital replicas and AI-generated substitutes. Supporters argue consumers deserve transparency while performers deserve safeguards against being displaced by technology.
The advertising industry opposed the measure.
The American Association of Advertising Agencies (4As) warned lawmakers that the law could create compliance challenges and additional burdens for advertisers and agencies operating in New York. Industry groups argued that AI is becoming a standard creative tool and that additional disclosure requirements could slow innovation and increase costs.
Broadcasters also raised concerns during the legislative process. The New York State Broadcasters Association said it appreciated amendments that narrowed portions of the bill but remained concerned that the definition of a synthetic performer could be interpreted too broadly.
Lawmakers included several notable exceptions.
The disclosure requirement does not apply to advertisements promoting movies, television programs, streaming content, or video games when the AI-generated character is part of the content being advertised. Audio-only advertisements are also exempt, as is the use of AI solely to translate a real performer’s speech into another language.
For businesses, the practical work begins immediately.
Law firms including Manatt, Phelps & Phillips and Davis+Gilbert have advised clients to review advertising workflows, examine content supplied by outside agencies, and confirm whether AI-generated performers are being used before campaigns launch. The guidance reflects a growing concern that many brands may not always know when vendors have incorporated AI-generated people into creative projects.
The law also adds another layer to an increasingly complex regulatory environment. States including California, Illinois, and Tennessee have enacted or expanded laws governing AI-generated likenesses and digital replicas, creating a patchwork of requirements for companies operating nationally.
For now, any business advertising to New York’s nearly 20 million residents faces a straightforward question before an ad goes live: Is the person on screen real? If not, New York law now requires consumers to be told.
The bottom line: New York’s new disclosure law does not prohibit AI-generated actors, but it does require transparency. As AI becomes a larger part of advertising, companies will need to balance technological efficiency with growing regulatory scrutiny.
JBizNews Desk — New York
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Negotiations with Tehran unimpeded by US strikes on Iran, US officials say
US President Donald Trump said that he believes the US and Iran will still reach a “very good” deal after the US struck Iran, in a phone call with ABC News Chief Washington Correspondent Jonathan Karl just before US Central Command (CENTCOM) announced the strikes Tuesday evening, ABC News reported.
CENTCOM wrote in their announcement that the strikes were “a proportional response to unjustified Iranian aggression,” in reference to the downing of a US Army Apache helicopter over the Strait of Hormuz.
Multiple other US officials echoed the sentiment that the strikes would not impede negotiations to different news outlets.
CNN cited a US official as saying that the strikes were intended as a warning shot, with the US believing they would not get in the way of negotiations to end the war.
POLITICO cited a senior White House official as saying that a deal with Iran was “still close,” drawing a distinction between military action and negotiations.
“A helicopter was downed yesterday. We have to respond in kind, but at the same time, there’s still a deal trying to be negotiated. So, two things can happen at the same time,” POLITICO quoted the official as saying.
Despite its defeats on the battlefield, the U.S. opted to test our determination.
Our Powerful Armed Forces will leave no attack or threat unanswered.
Leave our region if you want to be safe.
History of the Persian Gulf has many chapters on dire fates of intruding outsiders. pic.twitter.com/O17GGtklxA
— Seyed Abbas Araghchi (@araghchi) June 9, 2026
Iranian officials threaten retaliation
However, Iranian Foreign Minister Abbas Araghchi wrote that Iranian forces would “leave no attack or threat unanswered” in a post on X.
“Leave our region if you want to be safe,” Araghchi added.
This came after an earlier post in which Araghchi warned that any foreign military personnel in proximity to Iranian territory are “at constant risk” and should leave the area “as soon as possible.”
Araghchi asserted that while Iran “prefers the language of diplomacy,” its armed forces remain “on constant alert for any violation of Iran’s airspace, land, or waters.”
Iranian Parliament Speaker Mohammad-Bagher Ghalibaf echoed this sentiment, writing that while Iran “prefers the language of diplomacy,” it spoke “other languages far more fluently,” in a post on X Tuesday afternoon.
“Break your commitments, and we’ll switch to what we speak best,” Ghalibaf added.
Goldie Katz contributed to this report.
Border Police officer, two IDF officers arrested on suspicion of attempted murder
Three people, including one Border Police officer, were arrested on Monday on suspicion of having attempted murder one month before, police announced on Tuesday.
The investigation revealed that the officer, a man in his 20s, and two of his family members, who are both officers in the IDF, had an ambush planned out in order to carry out the murder on May 2 in southern Israel, where they live.
Police noted that the Border Police officer had been absent from his post for about a year.
All three suspects are Israeli security officials
The other two suspects include a man in his 40s who holds the rank of colonel in the IDF reserves, and a man in his 20s currently serving voluntarily in the IDF following his mandatory service.
The three were brought in for questioning on Monday, and the police officer’s detention was extended by nine days. Investigators extended the detention of the other two suspects for three days.
The investigation is still ongoing, police said.
New Study Compares Ultra-Processed Foods to Big Tobacco
The packaged foods that fill supermarket shelves may face a new challenge beyond changing consumer tastes and weight-loss drugs. A growing body of research is now comparing the ultra-processed food industry to Big Tobacco, raising the possibility of future regulatory and legal battles that could reshape one of America’s largest consumer sectors.
The debate gained momentum on June 3 when researchers published a special section in the American Journal of Public Health examining the relationship between tobacco companies and the rise of ultra-processed foods.
Among the most prominent researchers involved is Laura Schmidt, a professor at the University of California, San Francisco, who has spent years studying internal tobacco-industry records. Schmidt argues that cigarette companies perfected sophisticated techniques for marketing, product development, and consumer behavior long before expanding into the food industry through major acquisitions during the 1980s.
The corporate connections are significant.
Philip Morris once owned Kraft General Foods, while RJ Reynolds owned Nabisco. Researchers say those acquisitions occurred during a period when ultra-processed food production and consumption expanded dramatically across the United States.
The new research suggests that techniques originally developed to increase cigarette consumption were later adapted to help market highly processed foods. Researchers point to flavor engineering, advertising strategies, product formulation, and consumer behavior studies as examples.
Nicholas Chartres, an associate editor of the journal and one of the study authors, said the evidence increasingly supports viewing ultra-processed foods through a public-health lens similar to tobacco.
That comparison matters because it points toward policies that dramatically reduced smoking rates over the past several decades. Taxes, warning labels, advertising restrictions, and litigation all played major roles in transforming the tobacco industry.
The food industry strongly rejects the comparison.
Natalie Rubino of the Consumer Brands Association, which represents many packaged-food manufacturers, said member companies comply with Food and Drug Administration standards and provide consumers with safe, affordable, and convenient products.
The stakes are enormous.
Ultra-processed foods represent a major portion of sales for companies including Kraft Heinz, Nestlé, PepsiCo, Mondelez, and many other household names. Any effort to regulate these products more aggressively could affect everything from packaging and marketing to pricing and profitability.
The industry is already navigating significant changes. The growing popularity of GLP-1 weight-loss medications has encouraged many consumers to seek healthier options, forcing manufacturers to invest heavily in reformulated products and new nutritional offerings.
A regulatory push modeled after tobacco policy would add another layer of pressure.
For consumers, the implications are equally important. Ultra-processed foods remain popular because they are affordable, convenient, and widely available. Any future taxes, warning labels, or marketing restrictions could affect both pricing and purchasing decisions.
Whether policymakers embrace the tobacco comparison remains uncertain. But the fact that leading researchers are making the comparison at all reflects a growing shift in how public-health experts view the modern food industry.
The bottom line: a growing body of research is reframing ultra-processed foods as a public-health challenge similar to tobacco. If that argument gains traction among lawmakers and regulators, the financial impact on major food companies could be significant.
JBizNews Desk — Health & Business
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Layoffs Top 450,000 This Year as Companies Blame AI
NEW YORK — Artificial intelligence is increasingly becoming both a business strategy and a justification for workforce reductions, as layoffs across corporate America continue mounting in 2026.
Private workforce trackers estimate that more than 450,000 jobs have been eliminated this year through major corporate layoffs, restructuring initiatives, and workforce reductions spanning industries from technology and finance to retail and logistics.
The companies involved represent some of the most recognizable names in business.
Amazon, Dell, Citigroup, Oracle, and numerous other major employers have announced significant job cuts as executives focus on efficiency, automation, and artificial intelligence.
What makes this wave different from previous rounds of layoffs is the explanation many companies are offering.
Rather than citing declining sales or recessionary conditions, a growing number of firms are explicitly pointing to AI-driven productivity improvements as a reason for reducing staff.
The logic is straightforward.
If artificial intelligence allows fewer employees to perform work that once required larger teams, companies can lower labor costs while maintaining output.
For investors, that often translates into improved profit margins.
For workers, the implications are more complicated.
Many of the jobs being affected are white-collar positions traditionally viewed as relatively secure. Corporate support functions, administrative roles, research positions, customer-service operations, and various professional services are increasingly being evaluated through the lens of automation.
Several executives have openly discussed building leaner organizations supported by AI tools.
The concept is gaining traction throughout corporate America as companies search for ways to improve productivity without significantly increasing payroll expenses.
There is an important caveat, however.
While companies frequently cite AI as a driver of efficiency, many artificial-intelligence initiatives remain relatively new. In numerous cases, businesses are making workforce decisions based on expected future productivity gains rather than proven long-term results.
In other words, many firms are betting that AI will eventually justify today’s layoffs.
The broader labor market remains more resilient than headlines might suggest.
Recent government employment data showed the economy continuing to add jobs overall, with unemployment remaining near historically low levels.
That distinction matters.
Layoffs at large corporations generate significant attention, but smaller businesses across other sectors continue hiring, helping offset some of the losses.
Still, the shift raises important questions about the future of work.
Historically, technological advancements have eliminated certain jobs while creating new opportunities elsewhere. Economists continue debating whether artificial intelligence will follow that pattern or produce a more disruptive transition.
Businesses argue that adopting AI is necessary to remain competitive.
Workers worry that some eliminated positions may never return.
Both perspectives may ultimately prove correct.
What is clear is that artificial intelligence is no longer a future concept being discussed in conference rooms. It is actively influencing hiring decisions, workforce planning, and corporate strategy today.
The trend is likely to remain one of the defining economic stories of 2026.
Investors will be watching to see whether companies achieve the productivity gains they promise. Employees will be watching to see which roles remain vulnerable. Policymakers will be watching to understand how rapidly labor markets adapt.
For now, the numbers continue moving in one direction.
More companies are embracing AI, and more companies are reducing headcount as they do.
JBizNews Desk
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Israel’s Tech Sector Helped Drive the Shekel to a 33-Year High. Now It Wants Government Relief
A strong currency is usually considered a sign of economic success. In Israel today, it is becoming a growing concern for the very industry that helped create it. On Monday, officials from Israel’s Ministry of Finance and Tax Authority held another round of talks with finance executives from the Israeli research centers of global technology giants including Apple, Intel, IBM, HPE, GE Healthcare, and Philips to discuss ways to offset the impact of a surging shekel. The meetings were convened by Karin Mayer Rubinstein, chief executive of the Israel Advanced Technology Industries (IATI) association, just days after Finance Minister Bezalel Smotrich directed his ministry to establish a dedicated task force to address the issue.
The irony is difficult to miss. The technology sector that helped transform Israel into a global innovation powerhouse and attract billions of dollars in foreign investment is now asking the government for help because that success has helped push the shekel to levels not seen in decades.
The problem is rooted in simple math. Most multinational technology companies operating in Israel generate revenue in U.S. dollars but pay their employees in Israeli shekels. As the shekel strengthens against the dollar, every dollar of revenue buys fewer shekels, making Israeli salaries more expensive when measured in dollar terms. Industry representatives told government officials that the real cost of employing Israeli technology workers has risen by approximately 30% since 2021 once exchange-rate changes are factored in.
The shekel recently strengthened to roughly 2.8 shekels per dollar, dipping below the three-shekel mark and reaching its strongest level in approximately 33 years. What appears to be a national economic success story is creating a growing headache for multinational employers deciding where to expand operations and hire workers.
Technology executives warned government officials that Israel is approaching what they describe as a “red line” — the point at which employing an engineer in Israel becomes more expensive than employing similar talent in Silicon Valley and significantly more costly than hiring in competing technology hubs across Europe.
According to industry figures presented during the discussions, an experienced Israeli software engineer now costs employers roughly $170,000 annually, compared with approximately $100,000 for comparable talent in countries such as Portugal. Executives cautioned that if the gap continues to widen, future hiring decisions may increasingly favor other countries.
The stakes are enormous because high-tech remains the backbone of Israel’s economy. According to the Israel Innovation Authority, the sector accounted for approximately 50% of Israel’s exports in 2025, generating billions in tax revenue and supporting hundreds of thousands of jobs.
Signs of strain are already emerging. Website-building company Wix recently announced plans to reduce its workforce by up to 1,000 employees, or roughly 20% of its staff, citing both artificial intelligence and currency-related pressures. Rapyd and Amdocs have also announced workforce reductions. Industry leaders say the larger concern is not necessarily immediate layoffs but future hiring. Companies may keep headquarters and research operations in Israel while expanding engineering teams elsewhere.
Unlike previous meetings, government officials arrived this time with specific proposals. Among the ideas discussed were reductions or deferrals in National Insurance payroll payments, targeted tax incentives, and expanded employee-benefit programs designed to offset higher labor costs.
Officials also discussed allowing large multinational companies to pay taxes directly in U.S. dollars rather than converting funds into shekels. Companies including Google and Nvidia have reportedly requested such flexibility as a way to reduce losses caused by currency fluctuations.
Another proposal under consideration would revive emergency support programs for startups modeled on assistance provided during the COVID-19 pandemic and following the October 2023 war. Some industry representatives have called for at least 1 billion shekels in support measures.
The Bank of Israel has already begun responding. The central bank purchased approximately $801 million in foreign currency during May, marking its first intervention since 2022, in an effort to slow the shekel’s rise. Policymakers also lowered the benchmark interest rate by a quarter-point to 3.75%.
Not everyone believes government intervention is the answer. A stronger shekel reduces the cost of imported goods and has helped bring inflation down to approximately 1.9%. Some investors argue that companies should rely more heavily on currency hedging strategies rather than seeking government relief. Venture capitalist Michael Eisenberg of Aleph has long urged startups to protect themselves against currency fluctuations through financial planning rather than public assistance.
Still, government officials appear increasingly concerned that the issue could affect Israel’s competitiveness. The challenge is finding ways to help employers remain committed to hiring in Israel without distorting markets or undermining the independence of the central bank.
For now, the same industry that helped propel the shekel to its strongest level in more than three decades is warning that success carries consequences. The outcome of these discussions could help determine whether Israel remains one of the world’s most attractive destinations for technology investment—or whether some of its future jobs begin moving elsewhere.
JBizNews Desk — Israel
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LARRY KUDLOW: From General Jack Keane — 10 to 14 days to return to military operations
Is now the time for one last kinetic military bombing assault on the Islamic Revolutionary Guard Corps regime in Iran?
We know that President Trump prefers diplomacy and is trying to complete an Iranian surrender deal. Yet the news today that the president is blaming Iran for shooting down an Apache helicopter over the Strait of Hormuz Monday night may change things.
Here’s the president’s Truth Social: “I have just been informed by our Great Military that last night the Iranians shot down one of our highly sophisticated Apache Helicopters while patrolling over the Strait of Hormuz.” He added: “There were two pilots involved, both are safe and uninjured. Nevertheless, the United States must, of necessity, respond to this attack.”
By the way, the central command’s rescue mission for the helicopter pilots was a miracle. The downed pilots were rescued using an Unmanned Surface Vessel sea drone, in a first-of-its-kind mission. Our military is absolutely incredible. Of course Iran has been busting the ceasefire left and right, hitting the American military, hitting Gulf states, hitting Israel. Israel bombed back by the way hitting Kharg Island. There’s a thought.
I’m not here to second guess the president who has my support for his courageous Iranian intervention. Yet you have to wonder when his patience for diplomacy will run out. And you also have to wonder whether any deal with Iran is ever really a deal.
These radical Islamists and their Nazi-like regime do not know the civilized world’s definition of right and wrong. They have never adhered to a deal. It’s part of their ideology, it’s part of their theocratic regime. It’s part of their hatred of America and Israel.
So, what’s Mr. Trump going to do by way of responding to the Iranian hit? We’ll here’s what General Jack Keane said last night: “Clearly the preferred option after eight weeks of frustration must be to return to military operations 10 days, 14 days, let’s finish this, let’s put them in the most vulnerable position they have ever been in.”
Surely this is an option that’s front and center on the table in front of Mr. Trump. And in addition, I want to quote General Keane again because he is among the most knowledgeable and experienced patriots we have, who by the way is a Presidential Medal of Freedom recipient. Here’s General Keane again from last night: “At the end of the day, I truly believe what is going to likely come down to is having to go after them and to kill as many of them as we possibly can, capture some if we can, but take all the instruments of tyranny away from them once and for all. It is likely the solution that has to come at some point.”
I’m sure Mr. Trump is considering all of this. This is about ending a near half century gruesome, barbaric dictatorship in the Middle East. It is also about freedom and liberty for all the other Middle Eastern countries, and of course our great friend and ally Israel. These are universal values worth fighting for.
Copper Near Record Highs, and Your Wallet Will Feel It
LONDON — Copper prices remain near historic highs, a development that may sound like a story for commodity traders but ultimately affects the cost of homes, vehicles, appliances, electronics, and countless other products consumers buy every day.
Copper recently traded near $6.30 per pound, roughly 30% higher than a year ago, reflecting one of the strongest rallies among major industrial commodities.
The metal’s importance is difficult to overstate.
Copper serves as the backbone of modern electrification. It is found in electrical wiring, power grids, automobiles, consumer electronics, air conditioners, refrigerators, industrial equipment, and renewable-energy infrastructure.
When copper becomes more expensive, the cost of producing many everyday products rises as well.
Several factors are driving prices higher.
Supply disruptions at major mining operations have tightened global inventories, while strong demand from emerging technologies continues increasing consumption.
Artificial intelligence is playing a surprisingly important role.
The massive data centers required to support AI systems consume enormous quantities of copper through electrical systems, cooling equipment, networking infrastructure, and power-distribution networks.
Electric vehicles are another major contributor.
A typical electric vehicle uses significantly more copper than a traditional gasoline-powered automobile, creating additional demand as manufacturers expand EV production.
The transition toward cleaner energy is also increasing consumption.
Solar farms, wind turbines, battery-storage systems, and expanded power grids all require substantial amounts of copper.
Trade policy has added another layer of pressure.
Concerns about potential tariffs and supply disruptions have encouraged manufacturers and traders to build inventories, further tightening available supplies and supporting higher prices.
For consumers, the effects are indirect but meaningful.
Homebuilders pay more for electrical wiring. Automakers face higher manufacturing costs. Appliance manufacturers spend more on raw materials. Electronics producers encounter additional expense throughout their supply chains.
Eventually, some portion of those costs reaches consumers.
The timing is particularly important for homeowners.
Summer is traditionally a busy season for home renovations, air-conditioner replacements, and appliance purchases—all categories heavily dependent on copper.
Economists often refer to copper as “Dr. Copper” because its price is viewed as a barometer of global economic activity.
The reasoning is simple.
Copper is used in so many industries that rising demand often signals expanding economic activity, while falling demand can indicate slowing growth.
Today’s elevated prices therefore carry two messages.
They reflect concerns about supply, but they also suggest continued demand from industries investing heavily in infrastructure, technology, artificial intelligence, and electrification.
That demand is unlikely to disappear anytime soon.
Analysts expect AI-related infrastructure spending, electric-vehicle production, and energy-transition investments to remain significant drivers of copper consumption for years to come.
For consumers, the takeaway is straightforward.
Few people buy copper directly, but many of the products they purchase contain it.
As long as copper prices remain elevated, the cost of building, powering, cooling, and connecting the modern world is likely to remain higher as well.
JBizNews Desk
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Fifth man charged in March arson of Golders Green Hatzalah ambulances
Britain’s Crown Prosecution Service announced Tuesday that an 18-year-old man has been charged in connection with the March arson attack that destroyed four ambulances owned by Hatzalah, a Jewish volunteer emergency service.
Subhan Ahmed, a British national, was charged on Monday with “assisting an offender” in connection with the arson.
The ambulances were set ablaze in the early morning of March 23 in Golders Green, a heavily Jewish neighborhood in London. The incident spurred increased patrols in Jewish communities.
The charge is the latest development in an investigation being led by the Metropolitan Police’s counter-terrorism unit.
Four suspects already charged in arson attack
Four others have already been charged in connection with the attack.
Three British nationals, 20-year-old Hamza Iqbal, 19-year-old Rehan Khan, and 18-year-old Judex Atshatshi, along with a 17-year-old dual British and Pakistani national, were all charged in April with “committing arson, destroying or damaging property, and being reckless as to whether life would be endangered.”
The four have remained in custody ahead of a trial planned for January. Ahmed, meanwhile, was released ahead of a June 16 court date.
The ambulance arsons came at the early edge of a wave of incidents that have put London Jews on edge and induced the city’s police force to step up their presence in Jewish communities. The incidents have included multiple incendiary devices placed near synagogues as well as the stabbing in April of two Jewish men in Golders Green. The Metropolitan Police reported last week that antisemitic hate crimes in the capital rose 72% in May.
Following the announcement of Ahmed’s charge, the Community Security Trust, a Jewish organization, thanked the police and the Crown Prosecution Service “for their ongoing work investigating this attack and other arson incidents targeting the Jewish community.”
It added in a statement, “These are very serious allegations, and it is right that those responsible are being held accountable.”
Egyptian analyst slams Lebanese leaders, warns of country’s political, social destruction
Egyptian political analyst Magdi Khalil, founder of the Middle East Freedom Forum, gave a sharp critique of Lebanon’s political collapse during his current affairs program on Friday.
Khalil attributed the country’s ongoing crisis to the failure of Lebanese leaders, including Samir Geagea of the Lebanese Forces and former president Michel Aoun, as well as the influence of regional actors like Syria, Iran, and Turkey.
He argued that decades of political mismanagement, alliances with Hezbollah, and foreign interference have eroded Lebanon’s sovereignty, weakened its Christian communities, and left the country vulnerable to further destabilization.
At the beginning of his remarks, Khalil presented the central question, “From Nasser to Hassan Nasrallah, how was Lebanon destroyed?”
“Since the establishment of the state of Lebanon, the reasons for the current destruction of Lebanon that we see can be summed up in three words: Palestine, Islam, and Westernization.”
Arab-Muslim countries saw Lebanon, similar to Israel, as a target
He emphasized that “there is no difference in the adoption of this ideology by the Arab-Muslim peoples, their rulers, or Islamic movements. They are all united around these three pillars in their opposition to Lebanon.”
According to him, the country’s inherent contradictions created an inevitable clash. “The Christians in Lebanon have a vision of prosperity, and all these currents stand against them with an ideology of terror.”
Khalil explained that Lebanese sovereignty posed a cultural threat to its surroundings, “There is one single country in the Middle East where Islam is not the state religion… The very existence of Lebanon as a secular identity, a bridge to the West, and its Christian character, bothered the entire Arab region.”
“The Arab-Muslim countries saw Lebanon from the beginning, similar to Israel, as a target. And they failed with Israel, but they succeeded in destroying Lebanon. This is the story of Lebanon.” He adds in a dramatic aside that “were it not for the existence of Israel, Lebanon would have been considered Israel, but the Arab region targeted Lebanon and Israel, Israel primarily, and Lebanon secondarily.”
The practical destruction, according to Khalil, began with the surrender of sovereignty to the Palestinians. “Instead of being an independent state, the Cairo Agreement made Lebanon subordinate to the Arab-Islamic issue toward Israel, as an appendage, which is, of course, ruin!”
As a result, “Yasser Arafat and his gang took over Lebanon from 1971 to 1982, until Israel expelled them to Tunisia and saved the Christians from them.”
During those years, regional alliances were directed against the Western minority in the country. “Everyone united against them – Druze, Shiites, Sunnis, Arab Palestinians united to defeat the Christian spirit in Lebanon! Were it not for Israel’s entry in 1982, the Christians in Lebanon would have been destroyed, as the late great Lebanese poet Said Akl said.”
Afterward, under the Syrian occupation, the mechanisms of control became institutionalized. “During the period of Hafez al-Assad, they did something called ‘the unity of paths’… everyone agreed on the legitimacy of Hezbollah to fight Israel.”
Khalil moves on to describe recent years and notes that “by eroding Hezbollah’s capabilities and eliminating Hassan Nasrallah… Israel once again saved Lebanon and weakened the Shiites in Lebanon in 2024, 2025, and 2026.”
Turkey entering Lebanon is an existential threat to the nation
At the same time, he warned of a new and dangerous political development, pointing an accusing finger toward the leader of the “Lebanese Forces.”
“I warn Samir Geagea, he wants to tie Lebanon to Saudi Arabia’s money… this is dangerous, Saudi Arabia will give legitimacy to Turkey to take over Lebanon through Ahmad al-Sharaa… and the Turkish period will begin.”
Khalil elaborated on Turkey’s threat, adding that “Turkey is carrying out settler-colonialism! It is currently carrying out settlement in northern Syria, and performing ‘Turkification’… when Turkey enters, it does not leave.”
Meanwhile, Khalil attacks the historic Christian leadership that allowed Lebanon to turn into a terrorist state, launching sharp arrows at the former president.
“Michel Aoun did not care about Lebanon or the Christians… he took the money and reached out to Hezbollah and Iran and became corrupt… and the same thing applies to Emile Lahoud, he was a puppet in Syria’s hands, therefore what Samir Geagea says is very dangerous.”
He mentions the reckless abandonment of the south of the country.
“After Israel’s departure from Lebanon in the year 2000, the Christian Lebanese president refused to send the army to southern Lebanon to take the place of the Israeli forces… he said, ‘I will not send the Lebanese army to be a guard for Israel,’ but you are protecting your own country!”
Khalil rules painfully that “this Emile Lahoud is a Christian puppet who was in the hands of Syria and cheered for Hezbollah… the Lebanese state officially became a partner in Hezbollah’s terrorism!” This partnership also trickled into the Arab public sphere, when “The Arab media cheered for the 2006 war, Sunnis, Shiites, and Druze cheered together for Hezbollah! The only voice that said Hezbollah is a terrorist organization and that it is destroying Lebanon in the 2006 war was me!”
Khalil revealed the methods of operation of the Shiite regime in Beirut.
“The dangerous criminal Nabih Berri locked down the parliament for years, keeping the keys in his pocket, and by military force, he would not let anyone enter until he brought a submissive puppet of Hezbollah.”
The West, international community, adopted a distorted narrative of Lebanon
He also directs a finger of blame toward the international community. “The Western countries, and especially France, gave legitimacy to Hezbollah! This is a dangerous terrorist organization, and you give it political legitimacy?”
The West adopted a distorted narrative, he believes.
“They turned Hezbollah and Hezbollah’s weapons into a sacred symbol that must not be touched! Opposition to these weapons and this terrorism became national treason, and contact with Israel is considered a felony even though Hezbollah itself was in contact with Israel.”
Khalil presents a harsh and merciless internal critique of Christian society in Lebanon, by adding that “The Christians made mistakes in Lebanon. Every Christian currently looks for a country to fund it and to which it will be subordinate… many of them do not marry, or bring only one child, so of course their numerical strength is eroding.”
“The Christians in Lebanon are destroying themselves and their culture! They completely opened up to mixed marriages… people from the high class marry Muslims, while the Muslim is very rigid regarding marriage to a Christian woman.”
“In our case, they are forced to kidnap our girls in Egypt, but we do not marry our daughters to Muslims. This is a religious belief and an identity as Copts.” Khalil states, “In Egypt, the state helps them kidnap Coptic girls, but in Lebanon, of their own free will, they go and marry Muslims… this is a severe point of weakness among the Christians in Lebanon,” he noted, in comparison to the society he came from.
In addition, he criticized the focus on cultural superficiality.
“In recent decades, the Christians focused on the entertainment industry at the expense of the basic things that are important to Christians in Lebanon. Instead of solving the distress they are in, they established an entertainment industry to entertain the Arabs.”
Politically, the situation is no less difficult. “Part of the Christians joined the extreme left against their own people… the Lebanese Christians reject the 2026 frameworks in Washington, they rejected them exactly as Iran rejected them and Hezbollah rejected them!”
He concluded by addressing these ‘destructive internal alliances,’ saying that “Until now, Michel Aoun and others obey Hezbollah… until now, the Frangieh family is with Hezbollah and with Syria – this is ruin, ruin, literally! The Christians are operating against their own interests and making an agreement with terror!”
Khalil, a political and strategic analyst on international affairs, uses his official platform to engage in an intellectual struggle against Islamic extremism in the Middle East.
Beyond the Headlines: What is your mission in the world? – opinion
Moriah Chen from the Hidabroot website published the following questionnaire for anyone who wants to gain a clearer picture of themselves and of their mission in the world:
1. What would you do for free? Think about the activities you do without noticing the passage of time. What makes you forget to eat or sleep? What subject can you talk about for hours without stopping? Sometimes your profession or direction in life is hidden in the things you would do even without being paid.
2. In what areas do people turn to you for help? In what field do your friends and family already see you as an expert? Sometimes our natural talent is already obvious to others, even when we don’t notice it ourselves.
3. Ask people close to you what they find unique about you. Ask them to describe your singular strengths and the contribution you make to the world. Often, others see us more clearly than we see ourselves.
4. What makes you angry or sparks a desire for change? Which challenges and problems awaken in you a strong desire to make a difference? It is worth exploring, because working on these very issues may bring you special fulfillment.
5. How would you like to be remembered? What would you want people to write about you after 120 years, regarding your family, your devotion to Torah, your values and accomplishments? How you aspire to influence the world and the people around you may be an important clue to your own special mission in the world.
From the apple in the Holocaust to space
Holocaust survivor Dr. Avraham Peter passed away this week, two months before his 100th birthday. Most of us never heard of him during his lifetime, and many may not have heard of him even after his passing. That’s a shame. Here is a small attempt to correct that.
As a senior engineer, Dr. Peter helped establish the Israeli Air Force in the early years of the state. He then went on to an international scientific career in the field of astrophysics. Here is just one remarkable achievement: for years he worked at NASA.
During the Apollo 13 crisis, he was called into the American space agency’s situation room. The spacecraft had launched toward the moon, but an explosion in an oxygen tank threatened the lives of the astronauts. Operating with complete composure, Peter improvised complex and creative engineering solutions, and ultimately the astronauts returned safely to Earth.
When the media asked him about those moments, he always returned to one small story, which he told countless times throughout his life. In all his lectures and articles, he said those moments shaped him and gave him strength:
Peter was born in Poland. His family was sent to the Lodz Ghetto, to years of harsh hunger, illness, and forced labor. One day, young Avraham was sent to work beyond the ghetto walls, and at enormous risk managed to obtain an apple. Had he been caught, the punishment would have of course been immediate death. He hid the apple, managed to get it past the strict guards, and brought it to his father inside the camp.
His father had not seen fresh fruit in years. He was sick and weak. When his son handed him the apple, tears streamed from his eyes.
But here comes the life-changing moment: instead of rushing to eat the apple out of an almost inhuman hunger, young Avraham was moved to see his father holding the apple in his hand, lifting it upward and reciting slowly and aloud the blessing over fruit: “Blessed are You, Lord our God, King of the universe, Creator of the fruit of the tree.” Then he added the “Shehecheyanu” blessing: “Blessed are You, Lord our God, King of the universe, who has granted us life, sustained us, and brought us to this moment.”
Young Avraham was stunned. His father had not lunged at the apple but had paused to give thanks, to bless, to give this moment Jewish meaning. Then he took a bite of the apple — and shared the pieces among the family.
“That made me a proud Jew,” his son said.
“It made me understand that it is not our instincts that lead us. I saw my father rise above everything, and that was the spiritual anchor that accompanied me all my life. Father died in the ghetto, like most of the family. But I survived, and the memory of him reciting the blessing over the apple gave me the resilience to succeed. I understood that even under extreme pressure, even in scarcity, even in the ghetto and even in NASA’s situation room — you can be in control, you can function. We are much more than a body; we are a soul.
My father thanked God for an apple, and I was privileged to explore the wonders of creation in depth, to dive into the world of science, and to see the Creator there too — just as in the apple.”
For more than eighty years, that apple gave strength to Dr. Peter. Last week he was laid to rest in Jerusalem.
Parashat Shelach in the US/ Parashat Korach in Israel
This week, parashat Shelach is read in the Diaspora. A verse from this parashah reveals a great secret.
Ten of the twelve spies sent to the Land of Israel return to the people in the desert filled with despair. According to them, there is no point in continuing the journey to the Land of Israel. As they describe their encounter with the inhabitants of the land, they say: “We were in our own eyes like grasshoppers, and so we were in their eyes.”
In other words: We saw ourselves as grasshoppers, and therefore that is how we appeared to the people living there as well. We thought we were small and weak, with no chance of success, and that is how the people we met in the Land perceived us too.
Our self-perception is the foundation. It radiates outward. If we see ourselves as people of worth and meaning, if we go out into the world with optimism, vision, and faith, that is how others will look back at us as well.
This is true with our children. It is true in the workplace, in society, and also on the national level, as a people and as a state.
Parashat Korach, which is read in Israel this week, teaches us a crucial lesson about appreciating who we are. Korach rebels against the leadership of Moshe and Aharon, and seeks to replace them. What happened to him? And what sometimes happens to us as well?
Rabbi Elimelech Biderman explains that this is a mistake that remains common to this day. After all, Korach already had an honorable role. He was one of those responsible for the holy work in the Mishkan. But instead of focusing on his important position, he envied others and wanted to replace them. Korach thought that striving higher meant replacing the person at the top. But the Torah portion reveals to us that being number one means excelling and investing yourself in the place that is right for you. You are important precisely when you are fulfilling your own unique mission, carrying out the task of your life.
Translated by Yehoshua Siskin and Janine Muller Sherr
Want to read more by Sivan Rahav Meir? Google The Daily Thought or visit sivanrahavmeir.com
Maccabi Tel Aviv beats Hapoel Holon 107-93 in semifinal opener
Maccabi Tel Aviv defeated Hapoel Holon 107-93 to take a 1-0 lead in their best-of-five semifinal series as Tamir Blatt and Iffe Lundberg hit their shots from deep while Roman Sorkin and Jaylen Hoard ruled on the inside as the yellow-and-blue chalked up the win.
However, the real story behind the game was it being played behind closed doors, with no fans in stands due to the Iranian missile attacks over the previous 24 hours. Some of the foreign players contemplated leaving the country and advocated for the game to the moved, but ultimately the decision was made to play before empty stands.
Usually before a Maccabi Tel Aviv game at Yad Eliyahu, there are dozens of fans who wait at the players entrance to try and catch a glimpse of their heroes or maybe even take a selfie, but on this night there were no more than only a few. This was due to the Home Front Command restrictions of not having any spectators in attendance for the start of the yellow-and-blue’s semifinal series against Hapoel Holon.
Playing for empty stands
As the players stepped onto the floor for the pregame warmup, every single sneaker squeak, every single cough and every single word could be heard on the court with no one in the stands, as the over 10,000 fans that had been expected were forced to watch the game from their homes (or bars) on this night. Instead, the players on the bench were the ones who cheered their teammates on and made noise in order to get the best out of one another on this eerie night.
Adama Sanogo and Netanel Artzi got busy early for Holon, while Sorkin and Lundberg responded for Maccabi. Tamir Blatt and John DiBartolomeo both went from deep as did Lundberg to give the hosts a 30-23 lead after 10 minutes.
Blatt and DiBartolmeo continued to fill the basket as the second quarter got underway while at the other end Darin Green Jr., J’Von McCormick and Arzti tried to keep the Purples close. A red-hot Blatt along with Zach Hankins and Jaylen Hoard added points but Green drilled home a trio of triples to keep Predrag Runic’s team hanging around but down 60-53 at halftime to Oded Katash’s squad.
Kevion Taylor drained a pair from deep to begin the third quarter, Lundberg answered right back and Sorkin also scored from downtown. Hoard and Hankins both found the hoop, Sanogo did the same including a massive dunk as DiBartolomeo and McCormick traded baskets to keep the visitors still within striking range (79-72) after 30 minutes of action.
You could hear the coaches cheering, screaming and encouraging on the sidelines loud and clear as every clang off of the rim or swish through the basket could be heard with authority. The referees checking the monitors and the off-court officials could be heard discussing a challenge or play. No matter, the players on both sides continued to pound away at either end of the court.
Taylor opened up the final frame with a deuce, before Lundberg and Will Rayman both dialed up from long distance. While McCormick came back with points, Blatt went from way downtown and Holon simply couldn’t keep up with Tel Aviv, which hit the 100-point mark and closed out the Game 1 win.
Sorkin and Lundberg each scored 21 points while Blatt added 20 points in the victory while Green scored 21 points as both Sanogo and Taylor each scored 19 points for Holon in the defeat.
After the game, Maccabi Tel Aviv Head Coach Oded Katash spoke about the victory and the situation surrounding the game.
“I think we didn’t come into the game well due to what went on and I wasn’t sure as to what to expect. We tried to convince some players to play right until the last minute. We played for home-court advantage all season and we didn’t have the fans in this game. It was tough to manage the rotation but as a coach I am so proud of the players.”
Lundberg discussed the situation and addressed his frustration with the Winner League administration.
“It felt okay and it’s nice to win; it was a hard day for everyone but overall I am happy that we won. This is a message to the Winner League Administration – I really think that today was handled very, very poorly. I think it was very unprofessional and disrespectful to every player who played to be honest. I understand that they’re an entity and their interest is branding the product of Israeli basketball. But at the end of the day, we’re human beings and I understand that we have to remain professional and we have to go out there and do our job which we did today, but that doesn’t neglect the fact that the last 24 hours have been really tough on everyone. They need to do better.”
See more Israeli sports coverage at www.sportsrabbi.com/en
Operation Roaring Lion obscures Israel’s worsening traffic toll, road safety statistics
Israel’s road fatality figures for 2026 appear to show improvement, but National Road Safety Authority data indicate the decline was largely caused by an exceptional drop in traffic during March’s Operation Roaring Lion.
In March, 27 people were killed on the roads compared with 53 in the same month last year.
Excluding March, 157 people were killed this year compared with 147 in the same period last year, an increase of nearly 7%.
That rise came despite an intensive enforcement campaign launched by the Traffic Police and the National Road Safety Authority, funded by a special NIS 350 million increase in the road safety budget.
In January, road accidents declined, but the trend has since reversed. Even with more police officers on the roads and more tickets issued, the number of casualties continues to rise.
Despite the rise in road accidents and deaths, officials have yet to approve the NRSA-drafted two-wheeled vehicle driver education reform, which has reportedly been stuck at the Transportation Ministry for two years.
Police crack down on speeding, arrest motorcyclist going over 280 km/h
On Tuesday, Israel Police continued the nationwide crackdown, arresting a motorcyclist who was spotted driving at a speed of 285 km/h.
The driver, a 24-year-old resident from Arava, was brought in for questioning by traffic investigators from and was subsequently jailed.
Israel Police and the Transportation Ministry claimed the arrest was part of the joint operation to enforce road safety, although the ministry has done little to strengthen traffic education in high schools or encourage Israelis to shift to public transportation.
Israelis drive private cars far more than Europeans and use trains and buses too little, a pattern that contributes to the country’s high road fatality rate. A serious safety policy would therefore make public transportation more reliable, more frequent, and more accessible.
Drivers will leave their cars at home only when they know buses will arrive on time, that there will be no traffic because there are clear bus lanes, and that trains run frequently enough to be useful.
Instead, under Transportation Minister Miri Regev, the ministry’s answer is once again to crack down on drivers. Many senior professionals have either left or been dismissed from the ministry in recent years, and the policy response has remained centered on enforcement.
Changing penalty points for road violations
The Transportation Ministry is seeking to increase penalty points for several offenses from eight to 10, accelerating the path toward license suspension.
These include speeding, the offense most favored by enforcement authorities because it is easy to police, as well as genuinely dangerous violations such as running a red light, failing to yield to pedestrians, using a cellphone while driving, and making a dangerous entry to or exit from the road shoulder.
To “balance” the proposal, the ministry would reduce points for several minor offenses. Driving with a vehicle license expired for less than four months would drop from six points to none; several violations involving failure to obey directional arrow signs would fall from six points to four; and the six points attached to a vehicle smoke-emission ticket would be canceled.
Former soccer player Haim Sirotkin sentenced to one year in prison for running over protesters
Former soccer player Haim Sirotkin was sentenced on Tuesday to one year in prison after being convicted of reckless and negligent conduct involving a vehicle that injured five protesters during an anti-government demonstration in Tel Aviv.
The Tel Aviv Magistrate’s Court also suspended his driver’s license for four years and ordered him to pay NIS 20,000 in compensation to one victim and NIS 4,000 each to four additional victims.
The incident occurred on the evening of April 6, 2024. Sirotkin was driving with his wife and another couple on their way to a party when they reached the Namir Road-Begin Road-Shaul Hamelech Boulevard intersection in Tel Aviv, where protesters were crossing the road.
Sirotkin stopped his vehicle, and he and his wife exchanged words with demonstrators who passed near the car. According to the court, after a police officer who had offered to help guide him through the intersection stepped away, Sirotkin accelerated into the intersection and struck five protesters.
One victim, a woman in her 60s, suffered a head injury and four broken ribs. The court noted that Sirotkin continued driving for more than 10 seconds before bringing the vehicle to a stop.
Sirotkin was convicted of reckless, negligent conduct involving vehicle
The court convicted him of reckless and negligent conduct involving a vehicle, finding that while he did not intend to hit the protesters, he knowingly accelerated while numerous people were crossing in front of his car and disregarded the risk that he could strike them.
In its sentencing decision, the court said three aggravating factors justified a prison sentence.
First, the judges said the case involved more than ordinary negligence because Sirotkin consciously pressed the accelerator despite the presence of pedestrians directly ahead of him. The police officer who had been assisting him was no longer directing traffic and was instead speaking with Sirotkin’s wife, who was arguing with protesters.
Second, the court cited the number of victims and the seriousness of the injuries suffered by one of them.
Third, the court pointed to a connection between Sirotkin’s impatience and the earlier confrontation between the vehicle’s occupants and protesters. According to the ruling, his decision not to wait for demonstrators to finish crossing reflected a lack of tolerance that contributed to the dangerous situation.
The court further stated that the incident affected not only the victims but also others who witnessed it, creating concerns about the ability to express political views freely during public demonstrations.
In concluding the sentencing, the judge expressed hope that the case would serve as a public lesson in patience and tolerance. The ruling stated that Sirotkin should have remained in his vehicle and waited for the road to clear rather than driving forward while protesters were still crossing.
The judge emphasized that the prosecution never argued that Sirotkin intentionally drove into the demonstrators. Instead, prosecutors maintained that he acted recklessly, showing indifference to the consequences of his actions. They attributed to him a mental state more serious than negligence but short of intent.
Sirotkin deliberately hit gas when protesters were on road
The defense, meanwhile, did not maintain at trial Sirotkin’s original claim that a mechanical malfunction had prevented him from controlling the vehicle. As a result, the court concluded that the manner in which the car was driven stemmed directly from Sirotkin’s operation of it.
The judges said the evidence did not allow them to determine with certainty why Sirotkin drove as he did. The ruling noted that several factors may have played a role, including frustration over the delay, anger at remarks made by a protester, negative feelings toward the demonstrators, pressure created by his wife’s shouting, disregard for the possibility of injuring people, and alcohol consumption.
However, the court stressed that the issue of alcohol was not sufficiently investigated to support firm conclusions and was not included in the indictment. The ruling added that some of Sirotkin’s actions may also have resulted from an unintentional failure to operate the vehicle properly amid the combination of factors present at the scene.
WATCH: Israel Police arrest seven individuals on suspicion of running human trafficking ring
Israel Police arrested seven individuals suspected of running a human trafficking ring, exploiting young women, and blackmail, police announced on Monday.
The Coastal District Police began a covert investigation into the ring months ago after suspicions regarding the suspects arose.
The investigation uncovered that the suspects exploited a network of young women, some of whom were disabled or struggling with financial issues and mental health.
According to Israel Police, the suspects lured the women in with false promises of office jobs and provided them housing, before advertising them on social media and forcing them to provide sexual services.
All of the suspects, including a man and a woman, who are the two main suspects, were arrested during raids on their homes on Sunday.
Tens of thousands of shekels in suspected blackmail money were found in the homes and seized by police during the raids.
Victims held without means of contacting outside world
According to a Walla report, victims were held in a situation where they “had no ability to do anything,” with their passports and means of contacting the outside world withheld.
Judge Boris Sherman, who reviewed the investigation, told Walla that the ongoing investigation into the ring is complex and extensive, including dozens of substantial investigative actions.
He determined that there was a clear reason for the arrests as the suspects posed a danger to the peace and security of the victims and the public. He also ordered the investigation team at the Coastal Police Department to advance the investigation with particular priority.
STAT+: The shortage of many medicines in the U.S. remains a ‘systemic’ problem, a new analysis finds
The number of prescription drug shortages in the U.S. fell by 23% last year, marking the second consecutive year of declines and the lowest level since 2017, according to a new analysis that otherwise found troubling signs about medicines that are in short supply.
For instance, the average drug shortage lasted 5.3 years, exceeding the 4.3 years seen in 2024 and greatly outpacing the average two-year shortage experienced in 2019. Moreover, nearly two-thirds of out-of-stock medicines were in short supply for more than three years, and 39% were unavailable for more than five years.
Meanwhile, the 75 drugs that were in short supply last year spanned 130 therapeutic categories, indicating that shortages affected a wide range of diseases and patient populations, according to the analysis by U.S. Pharmacopeia, an independent organization that develops standards for medicines.
Homebuilders’ spring toolbox: Incentives rose, but conversion stayed weak
Part of this is telling you what you already know. So, make sure you get to the second part.
A string of better-than-expected quarters for new-home development players following the pandemic’s onset in 2020 had to end sometime. It did. The first half of 2026 delivered a worse-than-expected spring selling season for many homebuilders — particularly those focused on first-time and entry-level buyers.
Heading into 2026, expectations for lower mortgage rates, cooling inflation and modest affordability gains were supposed to pull more buyers off the sidelines. Instead, the season underscored how fragile demand remains when the monthly payment is still out of reach.
For builders that rely on renters becoming first-time homeowners, the problem is not a lack of interest. It’s conversion.
Demand is there: the issue is turning it into orders
Entry-level buyers aren’t simply rate-sensitive. They are payment-sensitive, job-security-sensitive and cost-of-living-sensitive. For many households, buying a home is a budget decision, not a lifestyle upgrade.
That shift has made 2026 a different kind of test. Few doubt whether demand exists. It does. Can homebuilders convert that demand into signed contracts without sacrificing margins, schedules or customer experience?
Not right now.
And, not unless friction – ranging from global political, trade and economic risk, to AI-fueled business disruption, to local policy chokeholds, labor capacity constraint, to consumer angst, to homebuilders’ own chronic struggles with cost and systems efficiency – subsides.
Homebuilders, almost everywhere, are buying their sales. They can’t do that forever. How long they can is a function of how well many of them have prepared their firms, de-risked their balance sheets, and toughened up through bumpy, earlier warnings of rigors ahead. But it’s also a function of money’s cost, and to whom and when it’s got to be paid back.
Now that the year’s “bumper-crop” selling season is winding down, the mantra, like old Brooklyn Dodgers fans, is “wait’ll next year.”
Is your firm fit to do that? Here’s what operators and enterprises face for the back half.
The latest data points to a familiar affordability ceiling
Affordability improved modestly in the first quarter, but not enough to bring the entry-level buyer meaningfully back. A median-income household still needed roughly one-third of its income to cover the mortgage payment on a median-priced new home. For lower-income households, the burden remained far above traditional affordability thresholds.
April new-home sales added to the picture. Sales fell from March and were down year over year. Inventory stayed elevated, increasing pressure on pricing, incentives and margin discipline. Completed inventory remains a key watch point because standing homes force faster operating decisions than starts or permits.
Feedback from private builders has largely matched the data. May orders were not a collapse, but they were not strong enough to support the idea of an extended spring selling season. Incentives increased, gross margins weakened, and many operators expected normal or below-normal summer seasonality.
The industry did not get a clean handoff from spring to summer.
For the back half of 2026, many builders are looking at a more demanding operating environment that will require tighter control over pricing, product-market fit and the sales process.
Geography is becoming an operating decision, not just a land decision
Single-family construction declined across regions in the first quarter, with sharper pullbacks in large metro core counties. The longer-term shift toward smaller, outlying and more attainable geographies continues — but it brings additional challenges.
Moving farther out can reduce land costs and create more room for product and community design. It can also mean longer entitlement timelines, weaker infrastructure, tougher trade coverage, longer commutes and more consumer hesitation about location.
In this environment, land strategy and operating strategy must move together.
A lower-cost land position is only an advantage if the builder can deliver the right home at the right monthly payment, on schedule, without adding hidden complexity that later shows up as cycle-time delays, purchase-order variances, warranty claims or margin leakage.
In a slower market, complexity gets expensive
In stronger markets, complexity can ride along with accelerated turns and higher margins. Builders can carry too many plans, elevations and options, rely on workarounds, and operate with disconnected systems because demand absorbs the mistakes.
That cover is gone for now.
In a weaker demand environment, complexity shows up quickly: bad handoffs, higher direct costs, longer cycle times, field errors, purchasing leakage, construction manager overload, sales confusion and buyers who demand more certainty before signing.
Not to mention morale doldrums and accountability lapses in the people value chain.
That is why the response to a disappointing spring selling season can’t rely solely on price cuts and incentives. Mortgage buydowns and standing-inventory tactics may be necessary, but they don’t fix the business — they buy time.
Builders that are holding up best are using that time to reduce friction: tightening plan libraries, rationalizing options, aligning product architecture with purchasing, attacking cycle-time bottlenecks and using data to identify recurring variance. Many are also pulling trade partners into earlier planning and training field leaders to manage by process instead of heroics.
Leadership is the constraint
Most organizations already know where friction lives. They can name the plans that cause problems, the options that break schedules, the communities that are hardest to build and the handoffs where sales promises and field reality diverge.
The challenge is acting on what the organization already knows.
That requires leaders who can connect departments that historically optimized around their own goals. It also requires a deliberate handoff of operating knowledge: younger leaders tend to be fluent in data, dashboards, automation and AI-enabled tools, while experienced leaders bring cycle-tested judgment about land risk, trade relationships and consumer behavior.
The companies best positioned for the next phase will combine both. They will use technology to expose friction, not bury it — and they will use AI to speed up work where it fits, without treating it as a substitute for judgment.
What the back half of 2026 will test
For many builders, the next six months will come down to execution:
- Can they reset pricing without training buyers to wait?
- Can they reduce incentives without losing conversion?
- Can they open communities at market-clearing prices without damaging backlog value?
- Can they slow land spend without starving 2027 and 2028 growth?
- Can they simplify product without weakening buyer appeal?
- Can they improve workflow with tech and AI rather than layering software on top of a fragmented process?
- Can they retain and develop rising leaders through a lower-velocity market?
A weak spring does not mean housing demand has disappeared. The structural need for homes remains. But the path from demand to signed contract has narrowed, and operating discipline will determine which builders emerge stronger — not just smaller.
The market may improve. Still, fact is, internal work cannot wait
MLSs compete on rules and partnerships as listing control shifts
From teaming up with brokerages to expand private listing networks nationwide, to opening up membership to real estate professionals outside of their traditional service area, to launching joint ventures supplying listing input and distribution technology, MLSs are employing a variety of diverse strategies as they look to compete with one another.
For Saul Klein, a real estate industry veteran and the CEO of San Diego MLS (SDMLS), these different strategies and partnerships, on top of the changes experienced by the industry via the National Association of Realtors (NAR) commission lawsuit settlement agreement, have led the industry to split into four camps:
- Brokerage-controlled listing networks that want more power over their own inventory.
- Portal-driven consumer platforms that want comprehensive public visibility on every home.
- MLSs trying to preserve the cooperative marketplace while adapting to new competitive realities.
- Regulators and lawmakers stepping into a space that used to govern itself.
According to Klein, these camps are the different ways industry players are trying to answer the question of who controls a listing and while some may feel this debate may lead to the death of the MLS, Klein believes it will only lead to the demise of those MLSs that refuse to grow and change with the industry.
“With NAR derisking and leaving more to local decision-making, it is very logical that this is leading to different models and creating, in some cases, a lack of continuity where we once had more continuity,” Klein said.
Despite all of the changes, Klein feels the core function of the MLS as the “apparatus to maintain and enforce standards, creating a clean and accurate” source of true listing information is essential, and issues may arise if MLSs start pulling away from this core function.
“Because of this competition, we are seeing different MLSs around the country looking at these beliefs that were once universal that are now being challenged or having alternatives being offered,” he said. “On top of this you have legislators stepping into things with laws surrounding public marketing and industry consolidation, so the question becomes: how do MLSs continue to provide this resource to everyone without tearing it apart?”
For Klein, there are five competing forces currently influencing the MLS industry: litigation, regulation, legislation, consolidation and innovation. And while he feels we are starting to see these forces make their presence known, he believes it is still unclear where things are headed, leading different MLSs to create different visions of the future.
A source of truth
According to the Council of MLSs (CMLS), however, these disparate visions and strategies should not be a detriment to the industry.
“Diversification should strengthen, not fragment, the marketplace. MLSs can innovate and differentiate while preserving the shared data infrastructure that makes the market more transparent, more competitive and more useful for consumers and professionals,” A CMLS spokesperson told HousingWire. “No two MLSs operate in exactly the same environment, and CMLS does not dictate how an MLS should structure local rules, services, or strategic priorities.”
Like Klein, CMLS also rejects the idea that the MLS is becoming irrelevant.
“MLSs are and always have been the source of truth for local market information,” the spokesperson said. “The MLS keeps the housing market open, transparent, fair, accurate, and competitive. It gives buyers a more complete view of available homes, gives sellers broad exposure to the market, and gives brokerages of all sizes access to the same factual information. That shared access allows brokers to compete on service, expertise and client outcomes rather than on control over information.”
For CMLS, the MLS will remain relevant as long as it continues to solve the industry’s need for someone or something to gather, verify and distribute listing information in a way that helps consumers and professionals make informed decisions.
In Klein’s view, this is why the view of the future that will ultimately succeed and benefit everyone is the one with the MLS at the core.
“All of these different models are in need of a source of truth, otherwise they are not going to be able to serve whatever constituencies they think they are serving — they all need the same thing,” Klein said. “So, I think the model that reinforces clean data, up-to-date data, accuracy of status and benefits practitioners, appraisers, consumers, the lenders and housing finance industry that make all of this possible, and the secondary money market, that is who is going to succeed. There might be different models for a while, but it is going to come back to having access to timely, accurate, clean and transparent data.”
Strengthening the agent-client relationship
CMLS echoes this, noting that the “MLS is essential transaction infrastructure that strengthens the agent-client relationship.”
“When listings don’t flow through the MLS, buyers see an incomplete market and sellers may lose exposure,” the CMLS spokesperson said. “Agents caught in the middle are left trying to advise clients without the full picture. The agent-client relationship depends on complete information. The MLS is how that information gets delivered in a fair and efficient way.”
Although this may be the eventual future the industry arrives at, in the meantime, there is a real concern about listing fragmentation as brokerages, portals and MLSs explore private listing networks and coming soon or pre-market listing statuses.
Tech could make the debate irrelevant
According to Marx Sterbcow, an industry expert and the managing attorney at Sterbcow Law Group, technology should make this should less of a concern, regardless of what happens in this new phase of MLS competition.
“The thing that no one is really talking about is the ability of these LLM AI agents to go in and scrape the data off of sites with private listing networks and aggregate that with the stuff that is publicly available through IDX and VOW data feeds,” Sterbcow said. “This makes so much of this debate obsolete.”
While this may be a period full of growing pains for the MLS industry, CMLS is confident that the MLS will be here to stay even as the housing industry continues to evolve.
“MLS growth will come from leaning into what makes it uniquely valuable and genuinely difficult to replicate: shared information, broad participation, reliable data, and open market access,” the CMLS spokesperson said. “This is not the first evolution of the MLS. From printed books to the internet to AI, MLSs have always adapted.”
However, the spokesperson warned that any evolution the MLS undergoes as MLSs compete more with one another “should not come at the expense of transparency and reliability.”
Illinois Gov. Pritzker’s sweeping housing reform package hits a wall
Illinois Gov. J.B. Pritzker’s push to reshape the state’s housing landscape ended with nary a whimper last week, with no votes as National Homeownership Month began.
His sweeping Building Up Illinois Developments plan stalled before the legislature adjourned, leaving the most ambitious housing proposals with little room to maneuver until fall.
His plan sought to strip local governments of broad zoning authority, legalize missing-middle housing and accessory dwelling units statewide, and set hard deadlines for permit reviews. It also would have eliminated excessive parking minimums, allowed single-stair construction in buildings up to six stories and replaced unpredictable local impact fees with a uniform formula.
The stall is a reminder of how powerful – and intractable – municipalities can be when arguing that state mandates have no place in local planning decisions. But there have been victories.
In Texas, California, Florida, Colorado and other states, lawmakers have passed legislation that preempts local zoning authority. Even so, they have had to continue strengthening those laws to prevent local governments from circumventing them.
Pritzker’s plan wasn’t the only failed housing effort in the spring legislative session. A separate bill targeting large institutional investors scooping up homes passed the Senate but never reached a House floor vote.
Plans to fight on
At a news conference, Pritzker noted that some legislation takes years to pass. Illinois REALTORS have spent five years pushing for policies to address a housing shortage estimated at 270,000 units statewide.
“I believe that the people of Illinois want action on housing,” he said. “They want to make sure we make it easier for people to build homes.”
He vowed to continue his housing push, framing the Spring setback as a delay rather than a defeat.
Although most of his plan stalled, the state’s new budget includes the $250 million he sought when he unveiled his BUILD plan in February during his State of the State address. The funds target site preparation, middle housing development, and first-time homebuyer assistance.
How his plan stalled
The Illinois Municipal League led the charge against the package’s zoning elements, arguing that the plan would preempt zoning authority, which cities and villages consider a core function of self-governance. Suburban mayors were particularly vocal, with several holding news conferences in May to declare their opposition.
Pritzker’s plan would have allowed multifamily housing by right on residential lots larger than 2,500 square feet, legalized accessory dwelling units statewide, and standardized impact fee practices. Illinois REALTORS, which has spent more than five years pushing to expand housing opportunities, backed the effort.
Taking on institutional rental owners
In last-minute maneuvering, state Sen. Rachel Ventura moved to put Illinois on a nationwide legislative trend to limit institutional single-family ownership.
A bill that originated as a measure requiring menstrual hygiene dispensers in state buildings became the Restock the Block Act. Ventura’s amendment, filed May 31 and passed by the Senate that same day, gutted the original bill and replaced it with new language targeting institutional real estate investors owning 10 or more residential properties with $30 million or more in assets under management.
Those investors would pay an annual fee equal to 10% of each home’s property value beyond 10 properties, escalating to 50% as a portfolio of single-family holdings grows. They would also face a 90-day waiting period before purchasing any home listed for public sale, giving individual buyers first crack. Penalties for violations could reach $250,000.
Revenue would flow into the Illinois Affordable Housing Trust Fund to support public housing development and rental assistance.
The amended bill passed in the early morning hours of June 1, went to the House calendar, and did not move.
Pritzker’s BUILD plan and Ventura’s bill remain alive. The 104th General Assembly does not adjourn “sine die” – used to signify that a meeting, session, or case has been adjourned or suspended indefinitely, without a specific date set to reconvene – until January 2027, leaving open the possibility of action when lawmakers return for the fall veto session.
AppFolio launches connector for Realm-X AI suite and Anthropic’s Claude
AppFolio has announced a new integration between its Realm-X AI platform and Anthropic’s Claude, enabling property management professionals to trigger and execute operational tasks directly through Claude while maintaining AppFolio’s built-in compliance, accounting and workflow safeguards.
The new agent-to-agent connection allows Claude to initiate operational jobs that are executed within AppFolio’s platform.
Unlike traditional integrations that primarily provide access to data or API results, the connector is designed to perform operational work while adhering to the rules, permissions and governance structures already established within the AppFolio ecosystem, leaders said.
“Our mission has always been to build the platform where real estate comes to do business, and we recognize that our customers are more than just consumers of our platform – they are builders of real businesses and thriving communities,” said Kyle Triplett, chief product officer at AppFolio. “By bringing the power of Realm-X to Claude, we are giving those builders the access and capabilities to deliver unparalleled performance. Whether they are at their desk or mobile, they can work through Claude, and have the same trusted AppFolio Performance Platform with a unified system of action.”
The integration combines Claude’s reasoning capabilities with Realm-X’s understanding of property management operations, including workflows, accounting practices, compliance requirements and business processes.
“The next frontier of AI is moving beyond simple chat to sophisticated agents that can execute meaningful work within complex industries,” said Travis Bryant, head of Americas mid-market at Anthropic. “By leveraging Claude’s high-reasoning capabilities and AppFolio’s deep real estate expertise, this connector demonstrates how AI can safely navigate professional workflows.”
The companies highlighted several potential use cases for the integration, including portfolio reporting, occupancy and maintenance monitoring, leasing and marketing optimization, accounting reconciliation and resident experience management.
Property managers can combine AppFolio portfolio data with external market research through Claude to create investor-ready reports, analyze maintenance and occupancy trends, update marketing content and property listings, review financial exceptions and evaluate resident interactions to improve service levels.
This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication.
‘Avoid Crypto For The Summer’: This Analyst Says Bitcoin, Ethereum, XRP Are No Good For Now
Lekker Capital’s Quinn Thompson advocates avoiding crypto for the summer and return in late Q3, citing record IPO supply, waning liquidity, and unresolved problems at Strategy (NASDAQ:MSTR) and Bitmine (NASDAQ:BMNR).
Three Headwinds Making Summer Crypto Dangerous Right Now
Thompson’s bearish case rests on three overlapping pressures hitting simultaneously.
SpaceX, Anthropic, and OpenAI are collectively bringing more than $3 trillion in new IPO supply to market, competing directly with existing tech names for capital.
The Mag7 stocks that historically lead bull markets are lagging while the rest of the Nasdaq carries the index, a pattern Thompson describes as classic late-cycle behavior.
Meanwhile, STRC is approaching one of its worst drawdowns since launch, and Thompson expects Strategy to raise its dividend by 50 basis points rather than the …
Boeing Will Start Building 737 Max Jets on New Everett Assembly Line July 6
Boeing will begin building 737 Max airplanes on a new assembly line on July 6, CEO Kelly Ortberg told CNBC in an interview on Friday, June 5. The line is located at Boeing’s massive Everett complex at Paine Field in Everett, Washington, north of Seattle, and will become the company’s fourth final assembly line for its best-selling single-aisle aircraft.
Ortberg said Boeing will load its first airplane onto the line on July 6 and described the facility as nearly identical to the company’s existing production system. The new operation, known internally as the North Line, is essentially a carbon copy of Boeing’s Renton, Washington, factory, where the company currently builds the 737 Max on three separate assembly lines.
The expansion gives Boeing additional capacity at a time when airlines continue waiting for aircraft deliveries.
Boeing is currently producing 47 737 Max jets per month, up from 42 per month earlier this year after the company successfully completed a Federal Aviation Administration (FAA) production review in May. The Everett line is expected to help Boeing increase output to 52 aircraft per month, a target the company aims to reach in 2027.
Production limits remain tied to safety concerns that emerged after a dramatic incident in January 2024, when a door plug blew out of an Alaska Airlines 737 Max 9 during flight. Although no fatalities occurred, the event triggered extensive government scrutiny of Boeing’s manufacturing and quality-control systems.
In response, the FAA imposed restrictions on production growth while Boeing worked to improve factory processes and quality standards.
Ortberg told CNBC the company has spent the past 18 months rebuilding confidence by focusing on stability rather than speed.
“We slow down when we need to slow down,” he said, adding that Boeing is no longer pushing unfinished work through the production system and will increase output only when quality metrics support doing so.
According to Ortberg, airline customers have told Boeing they are receiving some of the highest-quality aircraft the company has delivered in years.
The CEO also pushed back on speculation that Boeing could eventually ramp production to 70 jets per month. He said the company’s current long-term target remains 63 aircraft monthly, assuming suppliers can support that pace.
One of the biggest constraints remains engine availability from CFM International, the joint venture between GE Aerospace and Safran that supplies engines for the 737 Max fleet.
The new Everett line will initially focus on producing the 737 Max 10, the largest version of the aircraft family.
The Max 10 has not yet received FAA certification because regulators continue reviewing several technical issues, including an engine de-icing system concern. However, Ortberg said approximately 80% of certification flight testing has been completed.
FAA Administrator Bryan Bedford said on May 28 that the agency expects to certify the Max 10 before the end of 2026 and has not identified any issues that would prevent approval.
Once certified, Boeing will be able to begin delivering the aircraft to airlines that have been waiting years for the model to enter service.
For Boeing, the financial implications are significant.
The 737 Max remains the company’s primary revenue generator, and every aircraft delivered translates directly into billions of dollars of future cash flow. Airlines worldwide have ordered more aircraft than Boeing can currently produce, creating a large backlog that the company is working to reduce.
A fourth assembly line also brings the potential for additional manufacturing jobs and economic activity throughout the Seattle-area aerospace sector.
Ortberg added that Boeing is also optimistic about increasing production of its 787 Dreamliner widebody aircraft to 10 planes per month by the end of the year.
The broader challenge for Boeing extends beyond production numbers.
The company continues to recover from two fatal 737 Max crashes in 2018 and 2019 that killed 346 people and led to a worldwide grounding of the aircraft for nearly two years. The 2024 Alaska Airlines incident revived concerns about manufacturing quality and corporate oversight.
By opening the Everett line gradually and emphasizing quality over speed, Boeing is attempting to demonstrate that growth and safety can move forward together.
JBizNews Desk — Business
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Anthropic Unveils Today Claude Fable 5, Its Most Powerful Public AI Model Yet
Anthropic on Tuesday, June 9, unveiled Claude Fable 5, the most powerful artificial intelligence model the company has ever released to the public, alongside a more advanced version called Claude Mythos 5 that is reserved for cybersecurity professionals. The announcement marks one of the most significant AI launches of the year and raises the stakes in the intensifying competition among Anthropic, OpenAI, Google, Microsoft, and xAI.
For businesses, the launch is about more than a faster chatbot. It represents a new generation of AI capable of performing increasingly sophisticated work once handled exclusively by highly paid professionals.
What Makes Fable 5 Different?
According to Anthropic, Claude Fable 5 ranks at or near the top of nearly every major industry benchmark measuring AI performance.
The model’s strongest areas include:
- Software engineering
- Research and analysis
- Financial reasoning
- Data interpretation
- Document review
- Reading charts and images
- Long-running, multi-step projects
Anthropic said the model’s advantage becomes more apparent as tasks grow longer and more complex.
In simple terms, Fable 5 is designed not merely to answer questions but to complete substantial projects with minimal supervision.

Months of Work Compressed Into Days
One of the most eye-catching examples came from Stripe, which tested the model before release.
According to Anthropic, Fable 5 completed a rewrite across a 50-million-line code base in a single day. Stripe estimated the same work would normally require a team of engineers more than two months to finish manually.
For executives evaluating AI investments, the implication is straightforward: tasks that once required multiple employees working for weeks may increasingly be completed in hours or days.
That does not necessarily mean fewer workers. It does mean companies may expect significantly more output from existing teams.
Why Business Leaders Should Pay Attention
The software industry is only part of the story.
Anthropic says Fable 5 demonstrated leading performance in finance, legal analysis, research, and other knowledge-based professions.
On a senior-level finance reasoning benchmark conducted by Hebbia, the model achieved the highest score recorded by any AI system tested by the firm.
Meanwhile, global trading company IMC reported that Fable 5 performed exceptionally well across its internal analytical evaluations.
For industries where information processing is a major expense, those improvements could directly affect profitability.

A Major Leap in Reading Images and Charts
Another area where Anthropic says Fable 5 excels is vision.
The model can analyze charts, scientific figures, diagrams, screenshots, and images with substantially greater accuracy than previous versions.
Anthropic says Fable 5 can:
- Extract exact figures from scientific charts
- Interpret complex visual data
- Analyze screenshots
- Rebuild software applications directly from images
This capability expands the number of business tasks AI can perform beyond simple text generation.

What Early Testers Are Saying
Early business users reported meaningful improvements over previous AI models.
Mario Rodriguez, Chief Product Officer at GitHub, said Fable 5 handled long-running coding assignments with a degree of independence and reliability that exceeded earlier systems.
Reviewers in the legal and financial sectors reported similar experiences, describing the model as a significant step forward rather than an incremental upgrade.
For companies already experimenting with AI, the feedback suggests the technology is becoming increasingly capable of handling work that traditionally required experienced professionals.
The Price Just Dropped
The technology may be getting more powerful, but it is also becoming cheaper.
Anthropic announced pricing of:
- $10 per million words of input
- $50 per million words of output
The company says that represents less than half the cost of its previous flagship model.
That reduction matters because AI pricing has become one of the industry’s most competitive battlegrounds.
As models improve while costs fall, more businesses can justify deploying advanced AI across entire departments rather than limiting it to small pilot projects.
Limited-Time Free Access
Businesses already subscribed to Claude have a short window to evaluate the model at no additional cost.
Anthropic said Pro, Max, Team, and seat-based Enterprise customers will receive access through June 22.
Beginning June 23, customers will need to purchase usage credits to continue using Fable 5.
Anthropic says the temporary restriction reflects expected demand and available computing capacity.
For business owners, the message is clear: this is the ideal time to test whether the model can produce measurable productivity gains.
Meet Mythos 5: The Version the Public Can’t Use
Alongside Fable 5, Anthropic announced Claude Mythos 5, a more powerful version that will not be available to consumers or businesses.
Access is limited to approved cybersecurity organizations and critical infrastructure operators through Project Glasswing, a program operated in cooperation with the U.S. government.
Anthropic described Mythos 5 as possessing the strongest cybersecurity capabilities of any AI model currently available.
Why Anthropic Built New Safety Guardrails
Because of the model’s growing capabilities, Anthropic added additional safeguards.
Requests involving:
- Cybersecurity
- Biology
- Chemistry
- Model replication
are automatically routed to an older model called Claude Opus 4.8.
Users are notified whenever this happens.
Anthropic said the fallback occurs in fewer than 5% of sessions and was designed to allow faster deployment while maintaining safety controls.

New Data-Retention Policy for Business Users
Anthropic also announced a change affecting enterprise customers.
The company will now retain business-customer data generated through its most advanced models for up to 30 days.
Anthropic says the policy is intended to help identify emerging threats and attacks.
The company emphasized that:
- Data will not be used to train future AI models.
- Information will generally be deleted after 30 days.
- The policy applies primarily to security monitoring.
AI Is Moving Beyond Office Work
Anthropic believes the technology’s future extends well beyond business productivity.
Using Mythos 5 internally, the company says researchers accelerated parts of the drug-development process by roughly ten times.
The company also reported that scientists preferred AI-generated research hypotheses approximately 80% of the time compared with ideas produced by earlier models.
Anthropic noted these findings are based on internal testing and have not yet all been independently verified.
The Bottom Line
The launch of Claude Fable 5 highlights how rapidly artificial intelligence is moving from an experimental tool to a core business technology.
Just as companies once had to learn computers, email, and the internet, executives are increasingly being forced to decide how AI fits into their operations.
With stronger performance, lower pricing, and broader business applications, Anthropic is putting additional pressure on competitors—and on organizations still deciding whether AI should be viewed as a helpful assistant or as a fundamental part of the modern workforce.
JBizNews Desk — Technology
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Amazon-sold infant nursing pillows recalled over potentially deadly suffocation risk
Parents and caregivers are being urged to immediately stop using a brand of infant nursing pillows sold on Amazon due to a severe suffocation risk.
Little Grape Land is recalling roughly 1,430 of its nursing pillows because they violate mandatory U.S. safety standards for infant support cushions.
The U.S. Consumer Product Safety Commission (CPSC) noted the pillows can obstruct an infant’s breathing, posing a serious risk of injury or death.
POPULAR BABY BOTTLES SOLD AT WALMART RECALLED AFTER 135 CHOKING HAZARD REPORTS
The U-shaped pillows were manufactured in China and sold online at Amazon.com from August 2025 through April 2026.
Retailing between $28 and $30, the products were sold in various patterns, including rose floral, alligator, bear, butterfly, cactus, construction truck, forest deer, green leaves, little bunny, spring flower and woodland animal, but do not feature any specific identifying labels or markings.
WALMART WARNS SHOPPERS COULD FACE HIGHER PRICES AS FUEL COSTS SURGE, TAX REFUNDS DRY UP
To date, no incidents or injuries have been reported in connection with the product.
Frisco, Texas-based XJ Evermore LLC, which is doing business as Little Grape Land US, is offering a full refund to affected customers.
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To receive a refund, consumers are asked to destroy the product by cutting the pillow in half and sending a photo of the destroyed item to the company at recall@evermorepartner.com.
Amazon and Little Grape Land did not immediately respond to FOX Business’ requests for comment.
Opinion | Netanyahu Has Lost Middle America
IDF kills Lebanese terrorist who infiltrated Israeli territory, fired at soldiers
Despite extensive IDF soldiers throughout southern Lebanon, a terrorist on Tuesday managed to penetrate the border fence with Lebanon before IDF troops killed him.
The terrorist fired at soldiers from an observation tower in Israeli territory, but was shot by IDF troops and killed immediately.
IDF sources emphasized to The Jerusalem Post that the terrorist did fire on IDF troops from within Israeli territory, but only having just crossed through the border fence, and not any further in.
According to a military investigation of the incident, he was in uniform and armed with a long knife and a handgun.
The IDF said that to date, the terrorist’s affiliation could not be identified. The incident occured only about a kilometer from Margaliyot.
Regardless, the penetration itself into Israeli territory at a time when the IDF nominally has said it has full control of southern Lebanon was a major embarrassment for the military and a public relations win for the Lebanese terror group.
It could also undermine the sense of safety among northern residents, some of whom, in Margaliot, Manara, and Misgav Am, were told to remain in their homes until the situation was resolved at around 6 p.m.
Upon receiving the report, the 91st Division commander, Brig. Gen. Yuval Gaz, and the 769th Regional Brigade commander, Col. Yuval Mazuz, arrived on-site with additional forces to conduct a preliminary investigation and confirm that the incident was isolated.
“We do not rule out the possibility that this was a terrorist who stayed underground or barricaded in a building for a very long time and decided to come out,” one military source said.
IDF struck in southern Lebanon before Hezbollah terrorists infiltrated Israeli territory
Earlier Tuesday, the IDF carried out multiple strikes in the city of Tyre, following statements by Prime Minister Benjamin Netanyahu and Defense Minister Israel Katz, as well as yesterday’s clashes with Iran.
The IDF spokesperson issued a warning to residents of Tire, including those in the Christian neighborhood: “For your safety, we call on you to immediately evacuate your homes in the area shown on the map and move to the north of the al-Zahrani River. Being close to Hezbollah operatives, their facilities, or their weapons endangers your lives.”
According to the spokesperson, because of Hezbollah activity originating from the Christian neighborhood, the IDF may be forced to act against terrorist operations there in the near future.
New Jersey man charged for attempting to aid ISIS, planned US attack on synagogues
A New Jersey man who desired to carry out a terrorist attack against a synagogue or a National Guard site was charged on Monday for attempting to provide material support and resources to ISIS, according to the US Department of Justice and a criminal complaint.
Wayne resident Mohamed Sagha was allegedly a party to an online chat group for ISIS supporters. He has, since December, been participating in conversations in which ISIS supporters discussed potential attacks on US houses of worship and other sites.
The 22-year-old suspect met with a confidential source, reportedly sharing with him the intent to aid one of the other supporters in a plot to attack a religious site. Sagha was allegedly contemplating his own attack, sharing photographs and videos of National Guard and Jewish sites near his residence.
“As alleged, the defendant sought to support ISIS and expressed interest in violence directed at targets within the United States, including places of worship,” New Jersey District US Attorney Robert Frazer said in a statement. “Those who seek to advance the objectives of foreign terrorist organizations should expect a swift and coordinated response from federal law enforcement.”
Sagha attempted to join ISIS in Syria
In March, Sagha had allegedly attempted to join ISIS by traveling to Syria through Canada, but failed to complete the journey and returned home.
“The defendant allegedly wanted to attack targets in the United States in support of ISIS and its hateful ideology, but the FBI detected and put a stop to his violent plans,” FBI Counterterrorism Division Assistant Director Donald Holstead said in a statement.
“This should be a stark reminder to the American people of the FBI’s resolve to pursue anyone who tries to harm Americans and provide material support to terrorist organizations, and we will work with our Justice Department partners to make sure they face justice.”
Billions of British pounds in public funds went to terrorist organizations, gangs – report
Hostile states and groups affiliated with organized crime and terrorism received GBP 28 billion of public funds through government loans and aid payments, according to an investigation from The Telegraph.
The report revealed a hidden government dossier showing that billions of pounds went to organized crime between 2015 and 2021.
The data disclosed vast misappropriation of public funds through foreign aid and COVID relief loans, with millions going to Russia and the Islamic State. Notably, more than GBP 28 billion went to hostile entities in Britain between 2015 to 2021, the report found.
The dossier was commissioned by the UK Cabinet Office but was buried by the previous British government to avoid political embarrassment, according to a report by The Telegraph.
The Telegraph confirmed the document’s existence, which it claimed was the first analysis showing how public funds were diverted to national security threats.
The list included grants given to companies linked to Russia, COVID loans sent to ISIS terrorists, and investment in research for companies linked to the Chinese military.
British public funds reach ISIS, China, Russia
Dr. Rebecca Harding, the CEO of the Center for Economic Security, told The Telegraph that the dossier should be a wake-up call.
“Economic warfare and economic security are more important than ever before – there have been threats from adversaries, state actors, and non-state actors that go through the business system.
“One of the problems is that we have assumed that everybody wants the same thing as us. What we haven’t realized is, when it comes to other countries… [some] want to project their economic power in a way that undermines our economic power,” she said. “It is economic warfare, and we have been naive about all of this.”
Another reported instance involved COVID relief grants being given to ISIS in Syria, and UK counter terrorism funds inadvertently ending up in the hands of anti-Western extremists.
Much of the other funds went to criminal gangs and human traffickers who were claiming housing benefits and disability allowances.
Sources noted they believed there was significant overlap between the gangs and countries hostile to Britain. They added that one organized crime network linked to Eastern Europe made a significant effort to get British public funds.
The aformentioned was reportedly trying to encourage illegal immigration to Britain, and was backed by a hostile country. Sources did not tell the Telegraph which country, however, citing sensitive intelligence.
Some of the money also went to financing terror and domestic threats within the UK.
The report was commissioned by the UK government officials in 2023 and is intended to be shared with other dignitaries. It was ordered after it was found that government relief packages during COVID were riddled with fraud.
‘ATM for terrorists’: Officials warn UK public funds not supervised carefully enough
The Cabinet Office’s findings allegedly revealed widespread issues in the system’s grant process, leading officials to withhold the report.
Tom Keatinge, the founding Director of the Center for Finance and Security (CFS) at RUSI, told The Telegraph in an interview that: “We have a history in the UK, more so probably than anywhere else in Europe, of government and industry respecting each other’s boundaries.”
He added that given the contemporary threat facing the UK, there was “a need to be more cautious about who is involved in projects that the government is funding, clearly. This is repeated and very public advice provided by the security service.”
Keatinge, who researches the financial dimension of security threats, told The Telegraph there were “lots of examples” of the UK’s benefits and grants becoming an “ATM for terrorists,” although he did add that government agencies responsible for distributing public funds had become more alert to the risk.
Professor Nicholas Ryder, a former adviser to the Home Affairs Select Committee and an expert on terrorism financing at Cardiff University, said the findings were “staggering” and that “the link between fraud and terrorist financing is very clear.”
“The major problem with the UK stance is that the government fails to recognize that particular connection between fraud and terrorist financing,” Ryder told The Telegraph.
“It is a threat to national security… the threat is acknowledged, but sadly, at a policy level from successive governments, that link appears not to be joined up.”
In response to the report, a cabinet office spokesperson said that the government was taking new steps to tackle fraud.
“This government is taking unprecedented action to tackle public sector fraud, having saved over £7.5bn of taxpayer money in the past year through aggressive fraud prevention and recovery,” a spokesperson told the Telegraph.
“By using better data and hiring more expert investigators, we are now finding and stopping this fraud faster than ever before.”
The repricing of Iran: Why the Persian Gulf’s economic future runs through Tehran – opinion
For over a decade, the Arab states of the Persian Gulf made a compelling argument to the world – and the world listened.
The message was simple: move here, invest, and stay. Be a part of the community that’s redefining what’s possible not just in the Middle East but the world.
Dubai became a genuine destination, not just for vacationers passing through duty-free but for professionals making real decisions about where to plan their lives. Western executives made Dubai their home, and capital followed them.
Saudi Arabia embarked on its own lofty ambitions with Vision 2030. Its Crown Prince Mohammed bin Salman set his sights high. At the Future Investment Initiative forum in Riyadh in 2018, he famously declared that “the new Europe will be in the Middle East.” It was beginning to look like he might actually pull it off.
Then came the 2026 conflict, culminating in disruptions in the Strait of Hormuz. And with it, a reminder of how quickly it can all unravel.
War – or even the prospect of it – doesn’t just destroy things. It stops things from starting. The professional weighing a Dubai posting decides to wait. The fund moving toward a regional allocation pulls back. The company scouting office space in Riyadh puts the project on hold and then forgets about it.
None of this shows up cleanly in any dataset. But it accumulates. The case for the region was always built on a specific premise: stability here was structural, not situational. That argument got harder to make.
Rebuilding confidence after a shock like this is not a communications problem. You can’t message your way back to where you were. What’s required is the removal of the thing that broke the confidence in the first place – not its management, not its containment, but its resolution.
And that conversation, followed wherever it honestly leads, ends up in the same place every time: Iran.
There is a version of this discussion that treats Iran purely as a security problem, a source of regional instability to be deterred, negotiated with, or, in some formulations, confronted.
That framing is not wrong, exactly, but it is badly incomplete. This is because Iran is also – and this tends to get lost – one of the most economically underperforming countries on earth relative to what it actually has.
We’re talking about a country with a population of 90+ million, vast energy resources, a strategic geography, highly educated people, and a diaspora scattered from Silicon Valley to London to Toronto to Houston. None of it is running anywhere near what it should be. The gap between Iran’s endowments and its output is, by any reasonable measure, extraordinary.
The explanation isn’t complicated: isolation and sanctions. A political system that made both inevitable and then made them worse. Remove those things – actually remove them, not temporarily suspend them – and the trajectory shifts fast.
This is not optimism talking. History showed this. South Korea in the 1960s. China after Deng. India after 1991. Countries with educated populations and productive capacity do not recover incrementally after long periods of restriction. They accelerate. Capital returns. Talent reconnects.
Iran fits that pattern as well as any country you could name. The ingredients have been sitting there. What’s been missing is the political context that would let them work.
Economic logic alone doesn’t drive transitions. What a transition needs is a focal point, a person or institution that can credibly signal that the change is real and lasting.
Crown Prince Reza Pahlavi is the only figure in Iranian political life today who can plausibly play that role.
His standing rests on a few distinct pillars. Recognition, first – he is simply the most widely known Iranian opposition figure in the world, with genuine familiarity across the diaspora and real visibility inside Iran, where his calls to action have produced responses not easily dismissed.
Then there is how he has defined his own position: not as a ruler waiting to reclaim a throne, but as someone who could hold the center of a fractured opposition long enough for Iranians themselves to determine what comes next. That framing matters. Transitions succeed or fail largely on whether participants believe the key actors are invested in the outcome rather than in themselves.
The third dimension
But there is a third dimension here rooted in Iran’s own experience.
In 1971, Mohammad Reza Shah Pahlavi organized the 2,500-year celebration of the Persian monarchy at Persepolis. The event drew heads of state from across the world, generated enormous international press coverage, and served as more than a ceremony. What it actually was, in economic terms, was a signal that Iran was serious, that it saw itself as a country with a future worth engaging, and that the door was open.
Attention came. Capital and tourism followed. Momentum became self-sustaining. Brand is not a soft concept. The way a country presents itself to the world – and who is doing the presenting – shapes decisions that aggregate into real economic outcomes. Iran knew this once.
Today the form would be different, but the function would be identical. A credible transition, anchored by a figure who carries the kind of recognition and legitimacy Pahlavi does, would land not merely as a political development but as a repricing event.
Sanctions relief reconnects Iran to global finance almost immediately. Energy exports scale. Infrastructure draws capital. The basic plumbing of economic participation comes back online. Growth in the first decade would be transformative.
A stable, open Iran – one where human capital, energy wealth, and geographic position are finally allowed to compound – could become one of the world’s significant economies within a generation. A GDP in the range of two to three trillion dollars is not a stretch; it is simply what happens when you stop artificially suppressing a country with Iran’s endowments.
At that scale, Iran would be the largest economy in the Middle East by a considerable margin, a major energy corridor, a manufacturing and engineering hub, and a critical connector between Asian and European markets.
A rising Iranian economy changes the math for the entire neighborhood. The Arab states that have spent years and real money building the infrastructure of a diversified, trade-oriented future would find, on their doorstep, a market and a partner rather than a source of instability, cementing the gains of the last two decades.
Saudi Arabia and its neighbors built something real. The ambition was genuine, the investment was real, and the results – before the shock – were visible. But the ceiling on what the region can ultimately become is not set by what happens in Dubai or Riyadh. It is set, in significant part, by what happens in Tehran.
Containment is not an answer to that. It is a way of not answering it while the costs accumulate.
The path to a Middle East that can finally realize what it has always promised – as an investment destination, as a trade hub, as a place people genuinely want to build their lives – runs through a resolution of the Iran question, not around it.
And the most credible path to that resolution, the one grounded in both historical logic and present political reality, runs through Reza Pahlavi.
The Arab states of the Persian Gulf built something real. Iran could make it permanent.
Amir Reza Oveissi is an international banker and investor with more than 25 years of experience advising companies, financial institutions, and investors across global markets. Follow him on X @AmirRezaOveissi.
Saeed Ghasseminejad is director of the Iran Prosperity Project and a senior fellow at the National Union for Democracy in Iran (NUFDI).
Shas pushes tone-deaf Torah study law while soldiers die in Lebanon, Gaza – comment
Shas chairman Arye Deri’s decision to push forward legislation known as Basic Law: Torah Study is the quintessential example of being tone-deaf.
At a time when soldiers are being killed in southern Lebanon by explosive drones, when troops continue risking life and limb in Gaza, when reservists are serving their fourth, fifth, and sixth rounds of duty, and when thousands of families live with the constant anxiety of a simple knock on the front door, Deri chose this moment to advance a Basic Law designed to anchor the status of yeshiva students in Israeli law.
The original version of the bill included a provision critics said equated long-term Torah study with military service and placed the two on the same plane vis-à-vis rights and benefits from the state. That provision was revised following discussions on Tuesday morning in the Ministerial Committee for Legislation, which determines the coalition’s position on proposed bills.
The brazenness was breathtaking.
In December 2024, columnist Kalman Liebskind wrote that Israeli society was divided, but not in the way traditionally assumed: Right and Left, religious and secular, supporters and opponents of Prime Minister Benjamin Netanyahu.
Rather, it was between those who go to sleep every night worried about sons, husbands, brothers, and fathers serving on the front lines and those who do not live with that fear. Only someone insulated from that fear could imagine this legislation would be received as anything other than a slap in the face.
More than that, equating a day spent in a study hall with the ability to return home safely each night with sleeping in a commandeered house in southern Lebanon – afraid to step outside in daylight because of drones overhead, unable to shower or use basic facilities, and separated from one’s family for months at a time – risks undermining the morale of those making those sacrifices.
Deri’s tone-deaf response to Israel’s multifront wars
These are people giving up comfort, safety, and family life and risking their lives to defend the collective.
Making matters worse, Deri announced his intention to advance the bill while visiting on Sunday, haredi (ultra-Orthodox) draft evaders who had been arrested and jailed for ignoring draft orders.
The setting was almost as significant as the legislation itself.
As Israel continues fighting on multiple fronts, Deri chose to stand alongside draft evaders and announce a legislative initiative designed to strengthen the legal standing of those who do not serve.
The problem is not merely the substance of the bill. It is what the bill reflects: a striking lack of humility and appreciation.
One can believe that Torah study contributes profoundly to the Jewish people and to the State of Israel. Many Israelis do.
But even those who see Torah study as essential should be capable of acknowledging the unique burden borne by those who leave their families, careers, studies, and personal freedom behind to defend the country, and that all-day yeshiva study is not a comparable type of sacrifice.
Even Finance Minister Bezalel Smotrich’s Religious Zionist Party concluded that the bill, in its original form, went too far.
Smotrich, because of a desire to keep this government intact, has been fuzzy on the whole haredi conscription issue, something that has alienated many in the religious-Zionist community, which is disproportionately represented in the IDF’s combat units and among the more than 950 soldiers who have fallen since the October 7 massacre and which understands the value of Torah learning.
Yet even for the Religious Zionist Party, the idea of equating the status and conditions of those who do not serve with those who do proved unacceptable. The party said it would only support a version of the bill recognizing Torah study as a foundational value of the state that removes language comparing yeshiva students to soldiers and reservists.
Faced with that opposition, cabinet secretary Yossi Fuchs said the Ministerial Committee for Legislation had decided that the controversial equivalence clause would eventually be removed. Shas MK Yoav Ben-Tzur similarly said the wording would be altered so that no comparison would be made between yeshiva students and soldiers.
While an improvement, this does not alter the legislation’s broader significance, which is expected to come before the Knesset Plenum on Wednesday for a preliminary reading.
Why is Deri pushing for the Torah study bill to be a Basic Law?
The removal of the comparison clause does not end the controversy, because the legislation’s real significance lies not in the specific wording equating Torah study with military service. The real significance is that it is being advanced as a Basic Law.
This matters enormously, because in Israel’s legal system, Basic Laws have a quasi-constitutional status. They are not ordinary legislation. They form the foundation upon which other laws are interpreted and judged.
By enshrining Torah study as a constitutional value, the coalition would fundamentally alter the legal framework governing future debates over haredi conscription.
Without the original equivalence clause, the law can no longer claim that a yeshiva student is doing the same thing as a soldier. But it would still instruct the courts that Torah study is a supreme national value deserving constitutional protection.
That changes the legal balance. Future courts reviewing draft-exemption legislation would no longer be weighing equality alone and whether granting exemptions is discriminatory against those who do not receive them. The court would instead be required to balance equality against an explicitly protected constitutional value: the state’s recognition of Torah study as a foundational national interest.
In practical terms, the legislation would make it far more difficult for the judiciary to invalidate future arrangements granting deferments or exemptions to yeshiva students.
The coalition understands this. Which is precisely why Shas and United Torah Judaism are advocating the bill.
The goal is not merely symbolic recognition of Torah study. The goal is to create a constitutional anchor that would make future judicial intervention regarding draft exemptions far more difficult.
On the very same day that this law was discussed, another bill restoring daycare subsidies to families whose husbands are not serving in the military, though legally obligated to do so, passed through committee and was readied for a first reading.
The two bills tell a larger story: One seeks to restore benefits lost after the High Court of Justice ruled there was no longer a legal basis for blanket draft exemptions; the other seeks to create a constitutional framework that would make future judicial intervention far more difficult.
Taken together, they represent an effort not merely to preserve the existing arrangement but to entrench it.
To do all this precisely now shows a breathless degree of disconnection from the mood of the nation, or at least from the country’s non-haredi Jewish majority.
Tally Gotliv jeopardized Shin Bet agent’s safety, AG tells Knesset panel
Likud MK Tally Gotliv created a severe security risk by exposing the personal details of a Shin Bet agent (Israel Security Agency) during wartime, Attorney-General Gali Baharav-Miara told the Knesset House Committee on Tuesday during a heated debate over whether to grant Gotliv immunity for the charges.
The A-G presented the agency’s stance in a debate that took place after Gotliv was indicted for disclosing and publishing classified confidential information in violation of the Shin Bet law.
Gotliv spoke for over five hours on the second day of discussions, following a previous day that focused on her claims from the morning into the afternoon. A final vote on whether to issue immunity for Gotliv was postponed to next week on Monday.
The indictment against Gotliv was filed by Baharav-Miara in May for publishing the identity of the partner of protest leader Shikma Bressler, who, according to the indictment, was a Shin Bet employee.
Gotliv requests that the Knesset grant her immunity
Under the Knesset Members’ Immunity Law, Gotliv was able to request that the Knesset grant her immunity from criminal prosecution before the case proceeded to court.
Baharav-Miara presented the committee members with a top-secret document containing a professional opinion issued by the Shin Bet.
MKs who were exposed to the ultra-classified Shin Bet opinion said it stated that Gotliv endangered the life of an agent, as well as his children and family, according to a Channel 13 report.
The main part of the classified opinion detailed real examples of Shin Bet employees whose names were exposed, putting their lives at real and immediate risk, the report added.
Goltiv’s argument to the panel centered around the claim that sharing the identity was warranted.
She told the panel that she did the act knowingly, arguing that it was justified and that she should receive immunity as an MK. She also focused for hours on renewing claims that treason had taken place during the October 7 attacks and presented various theories on the matter.
Her remarks also involved a lengthy personal attack against Baharav-Miara, who had filed the indictment and attended both discussions on the matter.
Goltiv’s argument attacked the Attorney-General
“You’re chasing after us. You are persecuting us – the right-wing government,” Gotliv said directly to Baharav-Miara.
Slamming her further, Gotliv accused the A-G of “behaving like a criminal organization.
“And what you are doing to me will be done to other MKs, unless they are puppets,” Gotliv said.
“מתנהגים כמו ארגון פשע” – ח”כ גוטליב פנתה ליועמ”שית בהרב מיארה: “חרבתם את הייעוץ המשפטי לממשלה במטרה ברורה לחדל את ממשלת הימין ולהלבין את צמרת השב”כ”
🏛️מתוך הדיון בוועדת הכנסת בנושא קביעת חסינות בפני דין פלילי לח”כ טלי גוטליב@TallyGotliv https://t.co/o223xjCYWa pic.twitter.com/OKMGDKwKMN
— ערוץ כנסת 99 (@KnessetT) June 9, 2026
“I stand by my clear immunity. The indictment was filed against me in bad faith. But I have substantive immunity,” Gotliv told the panel.
After Gotliv’s lengthy remarks, Baharav-Miara was allotted time to present her stance, in which she said that “according to the Shin Bet, a risk was created as a result of the exposure of the details of a Shin Bet agent during wartime.”
She also noted that granting immunity to Gotliv would undermine the protection of Shin Bet employees.
“Accepting MK Gotliv’s request would harm the principle of equality before the law,” and she called on the committee to reject Gotliv’s immunity request.
Baharav-Miara noted that Gotliv’s actions were not a single publication or a spontaneous statement made in a momentary deviation.
“The MK repeatedly published it deliberately, justified it, and repeated it. This is not a one-time event but repeated conduct. The MK had other means available to her, for example, initiating a discussion in the Foreign Affairs and Defense Committee,” she said.
היועצת המשפטית לממשלה גלי בהרב-מיארה ביקשה להציג לחברי הוועדה מסמך סודי ביותר של חוות דעת מקצועית מטעם השב”כ – סגן השר אלמוג כהן התפרץ לדבריה ועורר מהומה@almog_cohen08
🏛️מתוך הדיון בוועדת הכנסת בנושא קביעת חסינות בפני דין פלילי לח”כ טלי גוטליב https://t.co/o223xjCYWa pic.twitter.com/xyApCX1RcK— ערוץ כנסת 99 (@KnessetT) June 9, 2026
Gotliv repeatedly clashed with her and opposition lawmakers during the discussion.
Opposition coordinator Yesh Atid MK Merav Ben-Ari told the panel that “in all the hours Gotliv spoke, she did not once address the offense she is here for today.
“Not only did she take no responsibility, but she amplified the offense she committed. She provided no testimony or shred of evidence to support her claims,” she added.
Committee chairman Ofir Katz then halted the discussion as Ben-Ari and Gotliv clashed, and it went to recess.
Katz also criticized the attorney-general during the discussion, despite his role as committee chairperson. Opposition lawmakers repeatedly spoke against Katz’s conduct during the debate. They objected to the fact that he continuously kicked out MKs for interrupting Gotliv, while he allowed Gotliv to interrupt the A-G as she presented her stance to the panel.
היועמ”שית על חשיפת עובד השב”כ: “לרשות חבר כנסת שמעוניין לבקר גוף ביטחוני כזה או אחר יש אמצעים לגיטימיים לעשות כך”: והוסיפה כי היה בידה של ח”כ גוטליב לכנס דיון בנושא בוועדת החוץ והביטחון שבה היא חברה@TallyGotliv @Meravbenari
🏛️מתוך הדיון בוועדת הכנסת בנושא קביעת חסינות בפני דין… https://t.co/SQY06Xn6g9 pic.twitter.com/lrQTXZ2cxk— ערוץ כנסת 99 (@KnessetT) June 9, 2026
MKs were also required to abide by special attendance requirements in the panel to be allowed to partake in the final vote on granting Gotliv immunity.
Lawmakers were not permitted to make interruptions, or they would have been removed from the panel, and the rules stipulated that only MKs who participated in all meetings on the matter would be eligible to vote. Attendance for at least half the duration of a meeting would be considered participation.
Other coalition MKs criticized the attorney-general as well during the discussion. At one point, haredi (ultra-Orthodox) MKs arrived at the panel to launch a personal attack on Baharav-Miara, saying she was persecuting haredim and the Torah.
Though Baharav-Miara had sat through hours of Gotliv’s remarks, making little interruptions, the outburst from the haredi MKs caused her to walk out of the discussion.
Gotliv and numerous other lawmakers from Prime Minister Benjamin Netanyahu’s coalition have repeatedly clashed with Baharav-Miara for years. The government voted to fire the A-G last year amid the rift, but the High Court struck down the decision.
The debate over Gotliv’s immunity began on Monday, despite the renewed conflict with Iran, which began the evening before and continued throughout the day.
This led to sharp criticism from opposition lawmakers over focusing on the contentious matter while the country remained under threat from Iranian missiles, and as all schools were closed nationwide.
“It’s a blessed day,” Gotliv told the panel in her opening remarks, over having the ability to request immunity in the Knesset.
In Gotliv’s lengthy remarks spanning over multiple hours, she also screened a video to the panel with clips that she presented as “evidence of betrayal” during the October 7 Hamas attacks in 2023. She made accusations of treason that she claimed took place during the attacks, presenting various theories to the panel and sparking outrage from opposition MKs.
Yesh Atid MK Vladimir Beliak said, “An insane event is currently taking place in the Knesset House Committee, in which a deranged MK is spreading wild conspiracy theories and accusing the IDF and the Shin Bet of treason.”
The charge listed in the indictment against Gotliv is revealing and publishing confidential information under the Shin Bet law.
‘I acted under the authority of my immunity’ said Gotliv
“Why are you indicting me? Because you do not know what to do with me. I acted under the authority of my immunity. I exposed [anti-judicial reform activist Shikma] Bressler’s partner,” Gotliv told the panel.
Ahead of the Knesset debate on Monday, Baharav-Miara penned a letter to members of the panel, requesting that Gotliv’s immunity be denied.
She explained that the indictment against Gotliv was filed on the basis of “professional, objective, and good-faith discretion,” and that none of the grounds for parliamentary immunity applied in her case.
The indictment against Gotliv was filed in May, based on her publishing on January 24, 2024, a screenshot from the website Edna Karnaval that included the full name of Bressler’s partner and claims tying him to alleged contacts with then-Hamas leader Yahya Sinwar before the October 7 massacre.
Karnaval is described by the indictment as having a “critical and blunt” style, especially toward public officials.
The screenshot, according to the indictment, included a headline alleging that Mossad chief David Barnea had received information from the US that they had intercepted calls between Bressler’s partner and Sinwar four days before October 7. The article further claimed that Barnea had summoned Bressler to a meeting, and that the Prime Minister’s Office had later issued a denial of Gotliv’s earlier statements.
The indictment said that the post received in excess of 400,000 views, 1,000 comments, 1,000 likes, and 500 shares. It said that Gotliv’s X/Twitter account had over 65,000 followers at the start of the relevant period, and over 90,000 by the time the indictment was filed.
Prosecutors alleged that Gotliv revealed and published the name of the Shin Bet employee and his relationship with Bressler “knowingly, deliberately, continuously, demonstratively, and repeatedly.”
The indictment said that the post remained available online from the time of publication until the indictment was filed, and that Gotliv did not remove it from her account.
The indictment further said that Gotliv stood by the publication, repeatedly published similar statements in which she again identified Bressler’s partner as a Shin Bet employee, and publicly stated that she had no intention of removing, or apologizing for, what she had written.
The Mossad denied the claim at the time, calling it a “recycled falsehood” and saying Barnea had “never met, spoken to, or invited Shikma Bressler to a meeting.”
Earlier in May, Defense Minister Israel Katz signed a certificate of confidentiality ahead of the indictment filing, clearing a procedural obstacle that had delayed the case.
Gotliv has repeatedly framed the matter as a political and legal fight over her work as an MK. In her post ahead of the indictment, she wrote that the attorney-general had acted after Katz signed the confidentiality certificate, and said she had not yet received the indictment, adding that she expected to read it “soon at one of [Baharav-Miara’s] mouthpieces.”
Sarah Ben-Nun contributed to this report.
Ministerial committee approves Torah Study bill amid coalition tensions
The Ministerial Committee for Legislation approved on Tuesday the legislation advanced by the haredi parties seeking to enshrine Torah Study into basic law ahead of its expected upcoming preliminary reading in the Knesset plenum.
Leader of the haredi Shas Party, Arye Deri, has demanded that legislation be advanced, and said on Monday that its passage was a condition for party lawmakers to join coalition votes.
The contentious legislation previously contained wording that called for equality of rights between IDF soldiers who serve and haredim who evade military service.
The far-right Religious Zionist Party, led by Finance Minister Bezalel Smotrich, said on Tuesday that it would not support a bill that calls for equality of rights between IDF soldiers who serve and haredim who evade military service.
Though the contentious wording was subsequently removed, the move to enshrine Torah Study into the country’s Basic Law would still have sweeping implications on the status of haredim who evade service in the country.
The expected advancement of the legislation has led to sharp condemnation from lawmakers in Prime Minister Benjamin Netanyahu’s coalition, as well as from opposition party leaders.
Former prime minister Naftali Bennett slammed the proposal, saying that the government was now advancing “an exemption law on steroids.”
‘Bill is desecration of the Torah’
He said the bill was “a desecration of the Torah and a desecration of the honor of IDF soldiers who are currently fighting in Lebanon.”
Haredi party leaders have continuously pushed for Netanyahu’s coalition to advance legislation that would not increase haredi enlistment. The IDF has repeatedly warned of an urgent manpower shortage, notably after more than two years of war.
In March, IDF Chief of Staff Lt.-Gen. Eyal Zamir said the IDF could soon collapse if there is no solution to the manpower shortage.
In a separate decision, the Knesset’s Finance Committee voted to approve ahead of its first reading a bill that aims to change the eligibility criteria for daycare subsidies, basing eligibility solely on a mother’s income. Critics argue that this will encourage state subsidies for parents of draft evaders even amid the IDF’s severe manpower shortage.
The advancement of both bills is reportedly part of an emerging deal between Netanyahu and the haredi parties, ahead of the upcoming Knesset dissolution vote in its second and third readings.
The agreement between Netanyahu and the parties is to push the election date to October 20, rather than hold it in September, as the haredi parties have sought. In return, they would receive advancement on the Basic Law: Torah Study, haredi daycare subsidies law, and the kashrut law, according to a Channel 12 report.
Lawmakers from Shas and UTJ told the Knesset House Committee last week that they wanted to move up the election date to September, before the High Holy Days. Numerous reports have stated that the haredi parties have pushed for this to lead to a better turnout among their voters.
Reportedly, Netanyahu has opposed the move and instead seeks to hold elections in late October, allowing the coalition more time to advance legislation during the Knesset’s final session and potentially achieve military goals.
‘No means no!’ Carolina fans boo Vegas’s Carter Hart at first two games of NHL Stanley Cup finals
Las Vegas Golden Knights goalie Carter Hart had a particularly challenging time during the first two games of the NHL Playoffs in North Carolina last week, as fans of the home team chanted “No means no” at him throughout both games.
The chant was planned on the Caroline Hurricanes fan subreddit before the series began, as a way to get under the goalie’s skin and distract the Vegas team.
Hart was one of five members of Canada’s World Junior Championship gold-medal team to be acquitted of sexual assault charges in 2025, just before signing his contract with the Vegas Golden Knights.
Hart and the additional players were accused of assaulting a woman known as EM in Ontario in 2018, and he was the only one to sign on to the NHL following the trial.
When he was originally signed, the Golden Knights said in a statement on X/Twitter that they “remain committed to the core values that have defined our organization from its inception and expect that our players will continue to meet these standards moving forward”.
“Here’s the thing: whether he is guilty or not, by moral or legal standards, is irrelevant to the Canes (Carolina Hurricanes) fans using it to get under his skin in a Stanley Cup Finals series. You think the players aren’t saying similar s*** (and probably much worse) on the ice?” one fan commented after videos from the Game 1 chant.
“This is definitely the case. I bet [Connor] Bedard still gets chirps about Corey Perry plowing his mom, despite no one actually believing that happened.”
Golden Knights will have to face Canes fans at least one more time to claim victory
Game 2 was no better for the Golden Knights, as the chants continued for each of Hart’s shifts on the ice.
Despite leading the series, it was clear that Hart and the Golden Knights were relieved to be home for Monday’s Game 3, when the roars of the crowd drowned out Canes’ fans’ attempts to keep the chant going.
“Just really fortunate to be here in Vegas,” Hart told reporters. “It’s a great culture of people.”
The Golden Knights are currently leading the series 2-1, with Game 4 set to be held on Tuesday at their home base of T-Mobile Arena. However, as a series continues until one team wins four games, Hart and the Knights will find themselves back in Carolina’s Lenovo Center on Thursday.
Trump canceled last attack on Iran, now Israeli sources fear that green light might never come
There is growing concern in Jerusalem that US President Donald Trump might not give Israel the green light to respond to Iranian attacks, even with a limited or symbolic strike.
Israel might find itself in a situation where it has to confront Iran alone, Prime Minister Benjamin Netanyahu said Tuesday at a meeting of the security cabinet.
“We may have to strike without American backing, despite all the costs involved,” he said. “We do not want to reach that point, but we know we are capable of it.”
During a phone call with Netanyahu on Sunday evening, following the Iranian ballistic-missile attack, Trump did not explicitly say, “Don’t,” regarding an Israeli response, but he conveyed that he wanted a measured reaction.
“We are close to an agreement,” Trump told Netanyahu during the phone call.
Later that evening, Israel struck several targets, including radar systems, air-defense batteries, weapons-production facilities, and a petrochemical plant.
On Monday, Israel had planned a much broader attack on Iran, involving about 50 aircraft and targeting a wide range of sites. The process of giving the strike a green light was about to begin when Trump spoke with Netanyahu and clarified that Tehran had sent a message saying it had stopped firing. He also made clear his opposition to a large-scale Israeli attack, which ultimately led to the operation being canceled.
Main concern is that Trump prioritizes diplomacy
The concern in Israel is that, given Trump’s desire for a diplomatic agreement, he might oppose even a symbolic strike the next time tensions escalate.
“At the beginning of the week, there was noticeable progress between Tehran and Washington regarding a possible agreement,” a person familiar with the matter told The Jerusalem Post.
Trump told reporters an agreement with Iran could be signed “within the next two to three days.”
Trump is frustrated by his inability to establish direct contact with Iranian Supreme Leader Mojtaba Khamenei and by the way the Iranian side is handling the negotiations, The New York Times reported.
Trump has repeatedly backed away from conditions that had already been agreed upon by his negotiating team, the report cited two mediators and another source familiar with the matter as saying.
At Sunday’s cabinet meeting, IDF Chief of Staff Lt.-Gen. Eyal Zamir said the military believes almost any deal with Iran would be a bad agreement.
Earlier on Sunday, US Vice President JD Vance told Fox News: “Israel may like [the agreement we will sign]. They may not like that this is in the best interest of the United States of America.”
Free Palestine party seeks to finalize registry for New Zealand elections
The Palestine Free from the River to the Sea Party, running on a platform dedicated to dismantling Israel, is seeking to finalize its registration for the 2026 New Zealand elections.
Due to an error on digital forms, the party is rushing to reapply almost 600 members to conform with Electoral Commission requirements, party president Paul Hopkinson said Sunday on Facebook. The longtime far-left activist announced the creation of the party, also called the Free Palestine Party, on May 11.
The party has six principles as part of its platform, and five of them relate to Israel and the Palestinians. It calls for a right of return for Palestinians, and the “dismantling of the Zionist structure of the state of Israel” in favor of a “single state in Palestine” that is “bi-national, secular and democratic, with full and equal citizenship for all with ethnic and religious rights protected in a democratic constitution.”
Other principles call for the end of military occupation in the Levant, prosecution for supposed war crimes and “genocide,” and to hold Israel accountable for “gross abuses of Palestinian human rights.”
The party offers “unconditional and complete solidarity” for all forms of Palestinian “resistance,” a euphemism commonly used for Hamas and other terrorist organizations.
The final principle demands that New Zealand withdraw from all security alliances with the US and distance itself from the US and England.
The party said it hopes to advance its objectives in Parliament by winning seats and to develop ties with other global movements.
“The Palestine Free from the River to the Sea Party is committed to contesting parliamentary elections as an independent party and building a mass democratic movement for justice in Aotearoa New Zealand and internationally,” it said on its website. “We aim to change public opinion and put sustained parliamentary pressure on the New Zealand government to uphold its obligations under international law with respect to Palestine.”
Taxpayer money spent on anti-Zionist hate
New Zealand Jewish Council spokesperson Juliet Moses said that the issue for the Jewish community is that if the party were to successfully register, it would receive taxpayer funding to advance an agenda that essentially demands an end to Israel.
Israel Institute of New Zealand co-director David Cumin said it was wonderful to live in a democracy like Israel and New Zealand, where anyone could run for office, but it was disappointing that “500 people support a party with the singular policy of destroying the Jewish state.”
“They will now use taxpayer money to spread their anti-Zionist hate around New Zealand,” he said. “We hope good people will see what they are and not remain silent.”
Hopkinson was an activist who advocated on behalf of the terrorist organization Popular Front for the Liberation of Palestine, Cumin said.
In an April speech, Hopkinson described himself as a “national spokesperson for the PFLP campaign of Aotearoa,” according to footage published on Facebook by the Otautahi Palestine Solidarity Network.
The Electoral Commission said parties are advised to submit their paperwork by June 11 to allow enough processing time before the August 6 deadline. The election is scheduled for November.
Treasuries Advance Before Wednesday’s 10-Year Note Auction as Oil Prices Retreat Further
U.S. government bonds firmed at the short end on Tuesday, June 9, 2026, as traders positioned ahead of a closely watched 10-year Treasury note auction the U.S. Department of the Treasury will hold Wednesday, June 10, while oil prices tumbled and eased worries about inflation.
The moves were small but pointed in the same direction. Treasury yields were largely unchanged Tuesday as bond markets took a breather ahead of more economic data later this week. The 10-year U.S. Treasury note yield — the key benchmark for mortgages, auto loans, and credit card debt — was last down less than 1 basis point at 4.54%, while the 2-year note yield fell 2 basis points to 4.135%. The longer-dated 30-year bond yield rose less than 1 basis point to 5.02%.
When yields fall, bond prices rise, so the dip at the short and middle of the curve means Treasuries edged higher.
Why Oil Is Driving the Bond Market
The biggest force pushing in bonds’ favor was crude oil.
Oil prices fell nearly 4% after the U.S. Energy Secretary said ship traffic through the Strait of Hormuz is increasing. That matters because cheaper oil feeds through to lower gasoline, shipping, and manufacturing costs, helping cool inflation. Lower inflation makes bonds more attractive because it preserves the value of the fixed payments investors receive over time.
The easing in oil ties directly to the Middle East. With shipping moving more freely through the Strait of Hormuz — the narrow waterway that carries a significant share of the world’s oil exports — fears of a supply shock that drove prices higher in recent weeks have begun to fade.
What the Auction Means in Plain English
Here’s the part that sounds technical but is actually simple.
To pay its bills, the federal government borrows money by selling IOUs known as Treasury securities. This week’s schedule includes three major sales:
- 3-Year Treasury Note — Tuesday
- 10-Year Treasury Note — Wednesday
- 30-Year Treasury Bond — Thursday
Investors watch these auctions closely because they reveal how much demand exists for U.S. government debt.
If buyers show up in force, the government can borrow more cheaply, helping keep interest rates lower throughout the economy. If demand is weak, yields rise — and so do borrowing costs for mortgages, auto loans, business loans, and credit cards.
That’s why a calm bond market heading into Wednesday’s 10-year sale is generally viewed as positive.
The Data Wild Card
Bond traders are not only watching oil and Treasury auctions.
They are also bracing for fresh inflation data due later this week, which could significantly influence expectations for the Federal Reserve’s next move.
Markets are currently pricing in roughly a 70% probability of a quarter-point rate increase by December, though the Fed is still widely expected to leave rates unchanged at its next policy meeting later this month.
There were also new trade figures to digest Tuesday. The U.S. goods and services trade deficit totaled $55.9 billion in April, slightly better than economists expected.
Chris Rupkey, chief economist at FWDBONDS, said some of the recent export strength may be tied to energy markets.
“The export growth looks uncertain as much of it appears to be the result of higher energy prices from the Iran conflict,” Rupkey said.
What It Means for Everyday Americans
The thread connecting all of this runs directly to household budgets.
The 10-year Treasury yield heavily influences mortgage rates, making a stable bond market and lower oil prices quietly positive developments for anyone shopping for a home, refinancing a mortgage, financing a vehicle, or carrying other forms of debt.
The risk remains the other direction.
If inflation data comes in hotter than expected, or if Wednesday’s 10-year Treasury auction attracts weak demand, yields could move sharply higher — bringing borrowing costs up with them.
For now, however, falling oil prices and steady demand for government debt are giving financial markets a rare breather, with investors focused on Wednesday’s 10-year auction and the inflation readings that follow.
JBizNews Desk — Markets
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STAT+: Trump’s health care affordability czar takes aim at hospitals
You know that 1980s Dolly Parton hit “9 to 5”? I wonder if RFK Jr. has heard it? He often works in his office from 10 a.m. to 4 p.m., according to the New York Times. Send news tips and ways to make a livin’ to John.Wilkerson@statnews.com or John_Wilkerson.07 on Signal.
Hidden alcohol study revealed
The federal government paid for a report on alcohol consumption. But it refused to publish the results, which show that even people who drink less than one alcoholic beverage a day are increasing their chances of developing a serious illness, Isabella Cueto reports.
The scientists who conducted the study believe the findings were suppressed because they are unfavorable to powerful special interests.
MBA launches forum for reverse mortgages, senior lending
The Mortgage Bankers Association (MBA) on Tuesday announced the launch of a new member forum dedicated to reverse mortgages and other senior-focused mortgage products.
The Senior Mortgage Solutions Network (SMSN) will provide MBA members a venue to discuss emerging trends, policy developments and business challenges tied to lending to older homeowners. Its scope includes Home Equity Conversion Mortgages (HECMs), proprietary reverse mortgages and other home equity products designed for seniors.
MBA said the network will work to identify key policy, regulatory and operational issues affecting senior-focused products and the broader age-based mortgage market. The group is also intended to ensure senior-lending priorities are reflected in MBA’s advocacy agenda, education programming and member engagement efforts.
The inaugural co-chairs — serving two-year terms — are Longbridge Financial CEO Christopher Mayer and Guild Mortgage managing director of reverse Jim Cory.
“MBA has recognized that there’s really an opportunity in supporting senior lending,” Mayer said in an interview with HousingWire’s Reverse Mortgage Daily. “If you want growth, you’re either going to have to help more people buy homes at a younger age — you’re going to have to focus on first-time home buyers — or you’re going to have to focus on seniors, where there’s a lot of demand for using home equity and for products that support seniors in retirement.”
The announcement comes as reverse and proprietary lending expands. In 2025, roughly $4 billion in first-lien reverse mortgages were originated in the U.S., with proprietary (non-HECM) products accounting for about half of all volume — roughly double 2024’s proprietary production.
Major forward lenders including Rate, Guild, and loanDepot have also been moving into the space, Mayer said.
According to Cory, the network is intended for companies already active in, or evaluating entry into, the senior-lending segment. “The challenges and opportunities in this segment are immense, and this network will play a key role in advancing solutions that make a real difference for borrowers and lenders alike,” he said in a statement.
Broader than just reverse
Mayer added that the group was intentionally not branded as a reverse-mortgage forum because it is designed to address the senior demographic broadly, not a single product. He pointed that 1.5 million people age 62 and older applied for a mortgage last year, and 29% — about 450,000 — were rejected, often due to income-related qualification hurdles despite significant home equity.
Mayer also emphasized that SMSN is meant to complement, not compete with, the National Reverse Mortgage Lenders Association (NRMLA). Mayer sits on NRMLA’s executive committee, while Cory co-chairs NRMLA.
“NRMLA does a really good job supporting reverse mortgages, and what MBA is able to bring to the table, that’s additive here, is institutions that don’t offer reverse mortgages,” Mayer said. “This is sort of: ‘How do we grow the pie? How do we bring people in?’”
Participation in SMSN will require MBA membership, and operational details are still being finalized. MBA said the network will meet quarterly — primarily virtually — with at least one in-person meeting each year at an MBA conference. A kickoff call is scheduled for July 8.
“Older borrowers are a vital segment of today’s housing market, and it is important for the mortgage industry to support innovative solutions that will help seniors achieve greater financial security,” said Anthony Siller, MBA’s policy manager for strategic industry engagement and staff lead for SMSN, in the announcement.
Dogecoin Price Hits Multi-Year Low: Is The Elon Musk Narrative Dead?
Dogecoin (CRYPTO: DOGE) is down 13% over the past week and 88% below its all-time high, as the Elon Musk correlation that drove the coin for years has completely broken down.
The Musk Trade Stopped Working And The Catalyst That Replaced It Fizzled
For years, a single Musk post could send DOGE surging double digits. That relationship no longer holds. When Musk reposted an AI-generated video referencing Dogecoin on X in March, the coin barely moved.
The federal Department of Government Efficiency, the political catalyst that sent DOGE to a $61 billion market cap in November 2024, was terminated eight months ahead of schedule.
Moreover, Musk publicly distanced the agency from the coin, calling the similar names a coincidence and stating the government had no plans to use Dogecoin.
Over $47 billion in market cap has been erased since November 2024. The coin that once traded higher than …
Stocks Close Mixed After Trump Vows Response to Iran as Oil Prices Fall
U.S. stocks ended Tuesday, June 9, on an uneven note after President Donald Trump said on his Truth Social platform that the United States “must, of necessity, respond” to Iran, which he accused of shooting down an American military helicopter over the Strait of Hormuz. The post, published Tuesday, sent shares sliding through the afternoon before a late bounce trimmed the damage.
The Nasdaq Composite took the worst of it, falling 0.97% to close at 25,678.82. The S&P 500 slipped 0.26% to 7,386.65. The Dow Jones Industrial Average bucked the trend, edging up 86 points, or 0.17%, to 50,872.11. The small-cap Russell 2000 added about a quarter of a percent after erasing earlier losses.
The immediate catalyst came from Trump, who wrote on Truth Social that the United States “must” respond after what he said was an Iranian attack on a U.S. military helicopter over the Strait of Hormuz. Trump said the two pilots were unharmed and safe. U.S. Central Command confirmed the helicopter went down at 7:33 p.m. ET on June 8, and the two crew members were rescued about two hours later. A U.S. official said early indications pointed to an Iranian drone.
The threat rattled a market that had spent the prior two sessions clawing back from a steep chip-stock selloff. Stocks dropped sharply in the minutes after the post hit, then recovered into the close as traders weighed whether the comment signaled real military action or pressure ahead of the on-again, off-again peace talks Trump has said for weeks are near.
The surprise was oil.
Normally a war scare in the world’s most important shipping lane would send crude soaring. Instead, U.S. Energy Secretary Chris Wright told CNBC that ship traffic through the Strait of Hormuz is “rising very meaningfully” and will keep climbing. U.S. crude oil futures declined 3.4% to close at $88.20 per barrel, while Brent crude lost 2.97% to settle at $91.45. Prices fell even after Trump accused Iran of downing the helicopter. Wright made the remarks at the Atlantic Council Global Energy Forum.
For consumers, that may matter more than the index numbers. Crude oil makes up more than half the cost of a gallon of gasoline, so a falling barrel usually means cheaper fuel at the pump in the weeks ahead, provided the strait stays open. The catch is that prices tend to climb quickly and fall more slowly.
Iran pushed back. Iranian Foreign Minister Abbas Araghchi warned on social media that foreign forces near Iranian territory “are at constant risk,” and said the best way to lower the danger is for them to leave the region. He added that while Tehran prefers diplomacy, it knows “how to speak other languages too.”
Underneath the headlines, the damage was narrow. Only two corners of the S&P 500 finished lower on the day: technology and energy. Tech slid as the chip trade cooled again after last week’s rout, and energy names tracked crude lower. Everything else in the index held up or gained, which is why the Dow managed to finish in positive territory even as the Nasdaq sank.
The backdrop remains the war that began on Feb. 28 between Iran and an Israeli- and U.S.-led coalition. A fragile April truce has been tested repeatedly, and the Strait of Hormuz, the chokepoint for a large share of the world’s seaborne oil, has been effectively closed for months under a dual blockade. Tuesday’s helicopter incident marked the first loss of an Apache since the conflict began.
For investors, the week’s economic calendar may matter as much as the geopolitics. The May Consumer Price Index arrives Wednesday, June 10, providing the latest reading on whether the oil shock and the war have pushed everyday prices higher. The Producer Price Index follows later in the week.
The bottom line: a war scare that could have crushed the market did not, because the one number that hits households hardest—the price of oil—went the other way. Stocks wobbled on the headline, steadied on the details, and now turn to inflation data that could shape the Federal Reserve’s next moves.
JBizNews Desk
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Grocery Prices Are Climbing Again, and the Government Says There’s More to Come
WASHINGTON — The cost of feeding a family continues moving higher in 2026, and federal forecasts suggest grocery shoppers may not see much relief anytime soon.
According to projections from the U.S. Department of Agriculture, overall food prices are expected to rise approximately 3.6% this year, with several common grocery categories projected to increase even faster.
Fresh produce is among the biggest concerns.
The USDA expects fresh vegetable prices to rise significantly during 2026, while fruit prices are also expected to move higher as weather challenges, transportation costs, and supply constraints continue affecting the food system.
Recent inflation data already reflects that pressure.
Grocery prices remain noticeably higher than a year ago, with consumers reporting increased costs across many everyday items found in the average shopping cart.
Fuel costs are playing a major role.
Higher diesel and gasoline prices increase transportation expenses throughout the food supply chain. Products must travel from farms to processors, warehouses, distributors, and eventually grocery stores. Each step becomes more expensive when fuel costs rise.
Economists warn that some of the full impact may not yet be visible.
Because food supply chains operate with delays, higher transportation costs can take weeks or months to fully work their way onto store shelves.
Weather remains another major factor.
Drought conditions and other climate-related challenges continue affecting crop yields in several agricultural regions, particularly for fruits and vegetables.
Not every category is moving higher.
Some forecasts suggest certain products, including eggs and selected dairy items, could experience more stable pricing or even modest declines if supplies improve.
Still, the overall trend remains upward.
For families, grocery inflation is particularly difficult because food is not optional. Unlike many discretionary purchases, groceries represent a recurring weekly expense that cannot easily be postponed.
As prices rise, shoppers are adapting.
Many consumers report purchasing more store-brand products, reducing discretionary food purchases, seeking promotions, and comparing prices more aggressively than in previous years.
The financial strain is becoming increasingly visible.
Consumer surveys show many households reporting greater difficulty paying monthly bills, with food costs frequently cited as one of the largest pressures on family budgets.
The business implications are significant as well.
Grocers typically operate with relatively thin profit margins, limiting their ability to absorb higher costs. Food manufacturers are also facing pressure from higher transportation, labor, packaging, and ingredient expenses.
The result is a delicate balancing act between protecting profits and keeping products affordable enough for consumers.
For shoppers, the practical advice remains familiar: compare prices, utilize store brands, watch for promotions, and plan purchases carefully.
The broader reality, however, is harder to avoid.
With fuel costs elevated, weather challenges persisting, and federal forecasts pointing toward additional increases, grocery prices are likely to remain one of the most persistent sources of financial pressure for American households throughout the remainder of 2026.
JBizNews Desk
© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.
WATCH: Footage shows IDF appearing to shoot seven-month-old Palestinian baby in Hebron
Footage released by leftist organization B’Tselem shows an incident in which IDF soldiers seem to shoot at a Palestinian family’s car in Hebron, killing seven-month-old Sam Abu-Haikal.
In the footage released on Tuesday, soldiers can be seen pointing their guns at the driver of a car at a West Bank checkpoint. Then, the person filming the video turns away as soldiers fire at the car. In the next video, the child’s father can be seen holding his body and trying to keep pressure on the boy’s head wound.
His mother can be seen sitting by the car, holding her cheek, while onlookers and family members appear to call for emergency services.
The baby’s father, Fahad Abu-Haikal, and his mother, Dania, were both injured in the incident.
IDF reportedly kills Palestinian baby in Hebron
The baby’s grandmother told Reuters that the family was driving near a checkpoint when they saw IDF vehicles and soldiers in the distance and stopped the car, initially believing that the shots fired were warning shots.
“One bullet struck my grandson, traversed his face and crossed his head, striking his mother’s cheek where it lodged,” she said.
On Sunday, the IDF said it had opened an investigation into the incident that occurred on Friday.
B’Tselem claimed that after the shooting, the soldiers left the scene without checking the vehicle or offering to help the family.
FDA OKs first new sunscreen ingredient in more than 25 years
WASHINGTON — Federal health regulators on Tuesday signed off on the first new sunscreen ingredient for the U.S. market in more than 25 years, giving Americans access to a skin-protecting chemical long used in Europe and other parts of the world.
The Food and Drug Administration says the ingredient, bemotrizinol, met the agency’s standards for protecting from dangerous ultraviolet rays while causing little irritation or absorption into the skin. The ingredient is safe for adults and children 6 months and older, the agency stated in a release.
Diabetes Association in uproar after members expelled from annual meeting over protest of NIH cuts
It didn’t have to be this way.
The condemnations keep coming four days after security officers escorted five diabetes experts out of the American Diabetes Association meeting in New Orleans for handing out copies of an editorial criticizing federal cuts to biomedical research. Expelling the doctors and scientists has shocked people in the field, and the ADA’s communications explaining it have only made matters worse, leaders in diabetes research and practice told STAT.
Asset managers are reevaluating how security influences long-term property performance
As the real estate sector continues to recover from the stagnation of 2025, asset managers are repositioning themselves to best navigate a softened market. Amid AI-driven trends and shifting investor attitudes, novel priorities are emerging with regard to property performance.
With mortgage rates remaining around 6% and home prices expected to rise by 4% through 2026, asset managers face some uncertainties. To help secure net operating income (NOI), many consultants are reevaluating how security influences long-term property performance.
The value-driving benefits of strong security
Physical security solutions deployed to protect real estate assets are no longer considered purely defensive measures as more stakeholders begin to notice their value-driving benefits.
Data suggests almost 60% of renters prioritize properties with smart home features, namely smart locks and security cameras, with almost 55% expecting such features as standard. In addition, smart security systems have been shown to raise property value by at least 5%, as well as contribute to homes selling up to 8.5 days faster than those without security features.
Properties with strong security features can command higher sale prices and appreciation rates by way of both enhancing the intrinsic value of the asset and limiting operational risks.
Considering that around 2.5 million burglaries are reported across the U.S. in an average year, and that 83% of criminals look for signs of security measures like alarms before attempting break-ins, strong security measures can be attractive features for both investors and buyers.
The link between security and tenant retention
Asset managers are increasingly considering the importance of strong, adaptable and visible security systems installed at rental properties as a way to improve the long-term performance of real estate assets, primarily as features deployed to attract and retain high-quality tenants.
Systems and infrastructure designed to ensure safe and secure living environments continue to rank as top priorities for high-value tenants, with almost 50% of renters ranking safety and security among their top priorities and 66% citing safety concerns as tenancy deal breakers.
Research suggests a clear link between strong property security measures and high tenant retention rates. Physical security technologies like coded entries have been linked to a 40% increase in retention rates, while video intercom systems and access control measures have been shown to improve tenant satisfaction scores by as much as 40% and 24%, respectively.
By facilitating a safe and secure environment for tenants via visible, well-maintained and convenience-focused physical security measures, asset managers can raise the perceived value of real estate assets on the rental market and improve long-term property performance.
How proactive security measures minimize risk
The presence of smart, integrated physical security systems can also be leveraged as a way to minimize operational risks for asset owners. Proactive security measures can be used to lower risk profiles and, in turn, decrease insurance premiums, a major expense area in 2026.
With the average annual cost of home insurance projected to reach over $3,000 by the end of 2026 and premiums expected to surge by 10% or more across some states, asset holders are viewing practical ways to minimize risk as attractive investments in property performance.
Research suggests that proactive security measures such as monitored alarms, surveillance systems and access control solutions can help to reduce insurance premiums by minimizing liability risk, with proactive security measures linked to an 80% reduction in physical security incidents in some instances and as high as a 20% reduction in property insurance premiums.
By leveraging proactive security solutions to lower risk profiles, asset managers can protect the physical asset value of real estate and reduce unexpected repair costs, thereby improving long-term property performance by safeguarding assets against physical damage.
Final word
As asset managers look to make the most of 2026’s housing market reset by implementing strategies to improve long-term property performance, many stakeholders are reconsidering the potential for proactive physical security measures to boost the value of real estate assets.
By installing new and upgrading existing security protections at residential and commercial properties, asset holders can raise property value, meet the needs of high-value tenants and safeguard themselves from risk, helping to positively impact long-term property performance.
Emma Williams is the founder and CEO of seene.online
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: zeb@hwmedia.com.
Asset agility: inside Trinity Family Builders’ fast-track to scale
Trinity Family Builders, a family-owned homebuilder in Central Florida led by the Orosz brothers, earned the title of the fastest-growing homebuilder in the country in 2025, according to HousingWire’s inaugural Homebuilder Rankings.
The builder grew sales volume by an impressive 373.7% in its second year of operations to just over 200 homes in 2025, despite navigating soft Central Florida market conditions.
The results, while impressive, have become standard operating procedure for Co-Presidents/Co-Owners Steve, Andrew and Matt Orosz. Together, they have founded, scaled and sold two other fast-growing homebuilding companies in the Greater Orlando area. Now, the brothers are leveraging the strategy that has proven successful in their earlier ventures to fuel Trinity Family Builders’ growth.
Steve, a CPA by training, acts as the company’s CFO, overseeing finance, lender relationships, cash-flow planning, back-office operations and strategic financial management.
Andrew, an attorney, provides in-house legal counsel, helping with land acquisition negotiations, HOA relationship management, closing matters, loan documentation and other legal and operational matters.
Matt heads up the company’s growth initiatives, with a focus on marketing, sales, land acquisitions and commercial investments.
Together, they lead Trinity Family Builders, the latest chapter in a multigenerational family legacy of homebuilding. Following their landing at the top of the fastest-growing list, the Orosz brothers sat down with HousingWire’s The Builder’s Daily to discuss the company’s origins and the strategy that has propelled them to success in both their current and former homebuilding ventures.
The brothers cited the company’s land strategy, which prioritizes acquiring and developing entitled land through its affiliated land company, as the primary driver of the trio’s achievements over the last 15 years.
The land strategy fueling the company’s growth
The Orosz brothers own another company, Hanover Capital Partners, that handles the land development side of the business. Over the years, the family has developed more than 25,000 residential lots.
“We’ve always been a land company first, and a builder second. I think we’ve been really good at positioning our acquisitions and entitlement to the point where it makes things easy to scale,” Steve said.
This land-leaning business and investment model – not subject to the ticking stopwatch of interest on debt and lot take-down obligations – gives Trinity Family Builders “optionality” to sit patiently on their lots until challenging conditions show signs of improvement. Once that shift occurs, the company can immediately activate fully developed and entitled lots, allowing it to capture demand nimbly as it arises. The brothers likened their operation to “a snake that’s coiled up, and ready to go at all times.”
“Sourcing our own land is a huge advantage. We operate our land company as a completely separate entity. It’s got a different capital structure, and it gives us more flexibility than we’d have otherwise. If we had all of our deals contracted with third parties who were like, ‘Hey, you have a takedown this month,’ this would be a different story,” Andrew said.
“But we have the ability to just … wait this out. We see all these other builders in town burning through their inventory to make up 2% margin, and we would rather save the land and wait for sunnier skies. The ability to control our land pipeline is huge,” Andrew added.
Trinity Family Builders currently sits on about 8,000 lots, with roughly half set aside for its own homebuilding operations, about a quarter for other builders, and a quarter earmarked for a to-be-determined use. The team sells lots mainly to competing public builders.
“Our primary strategy is to sell out the first phase to a public builder, get a big number that returns all your capital in the land deal, and then you have flexibility to wait and see what you want to do,” Steve said.
This land strategy, which enables the flexibility to go at their own pace, is something that the Orosz brothers have successfully leveraged in past business ventures, to great success.
Carrying on a family legacy
The Orosz family homebuilding legacy goes back multiple generations. The brothers’ grandfather, William Orosz, Sr., was a homebuilder in Royal Oak, Michigan. Their father, William Orosz, Jr., moved to Orlando in the 1980s, where he became the President of Catalina Homes, which grew to 1,200 annual home deliveries by the end of his tenure.
In the early 1990s, Orosz, Jr. founded Cambridge Homes, which grew to become the most prominent private homebuilder in Central Florida before being acquired by K. Hovnanian Homes in 2005.
The next generation of brothers, inspired by this family legacy, teamed up to found Royal Oak Homes in 2011. The company grew quickly and earned recognition as one of the fastest-growing homebuilders in the nation before selling to AV Homes, now part of Taylor Morrison, in 2014 for $65 million in cash. Royal Oak Homes had 8 closings in year one, 100 in year two, and 273 in year three.
“We were just three guys who had knowledge of homebuilding, but had never run a company before,” Steve said.
Shortly after selling Royal Oak Homes, the Orosz brothers founded Hanover Family Builders, which the Orlando Business Journal named as Central Florida’s fastest-growing company in 2020.
The company grew exponentially year after year, growing from 98 closings in year one to 535 in the third year. By the time it sold to Landsea Homes, now rebranded along with New Home Company as Risewell Homes, in 2022 for $179.3 million plus the assumption of $69.3 million in debt, the company had grown to 1,250 annual closings.
In just under five years of operations, it had eclipsed the 3,000-home mark.
In their latest move, the Orosz brothers founded Trinity Family Builders in 2024. Even in the throes of a volatile, choppy and air-pocked-filled housing market, they are leaning on the same playbook that proved successful in earlier ventures.
The company got off to a quick start. The builder, which has focused on tertiary markets outside Orlando, opened Trinity Family Builders with eight projects on day one, with a sales team assembled in advance.
“We had all the trades already lined up. Our software system was already done and set. We basically just turned it off for the acquisition, then turned it back on for the new company, and used all the same option codes and everything,” Steve said.
Kickstarting in a challenging market
The brothers officially launched in March 2024, at a time when the Orlando market had already become fickle and uncertain. Like many markets in Florida, the Greater Orlando area saw a surge in population growth during and immediately after the pandemic.
By 2024, however, that population growth had begun to moderate, and so had home prices. According to Zillow’s Home Value Index, the average home value in the Orlando market peaked at $393,500 in 2024 and has since fallen nearly 5% to just over $375,000. Prices have held roughly steady over the last six months but remain below peak levels.
The Orlando market, similar to many other regions in the country, hasn’t been favorable to homebuilders over the last couple of years.
“We’re on the same type of growth trajectory, although the market’s not as complementary as it used to be,” Steve said.
The brothers believe that the market in Central Florida is going to pick up again in about 12 months. When conditions do improve, the company can lean on its land-first formula to quickly capture that demand. For now, though, Trinity Family Builders is focused on keeping its sales pace slow and preserving margins until that improvement materializes.
Running a tight ship
As a private builder, the Orosz brothers understand the importance of running a tight ship, with a strong focus on operational efficiency. One way to compete with the public operators is by being more hands-on with customers and handling customer problems and concerns as soon as possible.
A third-party firm, Woodland, O’Brien & Scott, which the Orosz family contracted while running their previous company, Hanover Family Builders, found that the Orosz-run company had high marks from surveyed customers. This included a 98% approval rating and a 96% willingness to refer rating, which ranked highest among Woodland, O’brien & Scott’s homebuilder clients.
Within their own organization, Trinity Family Builders also hosts monthly interpersonal development programs for both the land and homebuilding teams, as well as trades partners that have decades-long relationships with the Orosz family. Speakers on topics like land development, retirement planning, financial literacy, leadership and business ethics share their insights with the team and partners, fostering continued career development.
Among all of the company’s core operations, its disciplined approach to finance may be one of the most important drivers of its long-term success.
Trinity Family Builders’ financial strategy centers on maximizing return on capital rather than focusing solely on return on equity or closing volumes. A key component of the company’s capital management is looking at cash flow daily for 90 days. This detailed visibility allows the company to optimize construction loan draws, reduce financing costs and identify potential liquidity challenges months before they become problems.
However, Trinity Family Builders views its land strategy as the primary differentiating factor behind its success.
“I think it is why we’ve been a successful acquisition target in the past. We have the flexibility to make a builder look however the buyer wants it to look. We can be on balance sheet, we can be off balance sheet, we can use option contracts, we can develop for you and we can be a land bank. We’ve just got a ton of built-in flexibility by virtue of the land operation,” Steve said.
MISMO updates PaVS procurement dataset for UAD 3.6
MISMO, the real estate finance industry’s standards organization, released an update to its Property and Valuation Services (PaVS) Procurement Dataset Specification on Tuesday, aiming to modernize how valuation services are ordered across the mortgage ecosystem.
The updated specification replaces legacy form-based ordering with a standardized, data-driven framework for exchanging valuation service orders. It is designed to support the industry’s transition to UAD 3.6 and uses structured data elements to streamline communication between lenders, appraisal management companies (AMCs) and valuation service providers such as appraisers.
The intended users are primarily technology teams responsible for integrating order data across those systems.
“The Property and Valuation Services Procurement specification provides a standardized approach to requesting services using the MISMO vocabulary. This enables trading partners to more quickly develop and deploy integrations to transact services without getting bogged down in proprietary approaches,” said Elizabeth Green, SVP of valuation solutions at ServiceLink. “Further, the specification provides for recommendations that support the new UAD 3.6 style of valuation services and includes the GSE recommended elements for ordering without form numbers.”
The standard was developed by the MISMO Property and Valuation Services Community of Practice in response to industry demand for a more data-centric approach to valuation ordering. The group is led by Green as chair and Darlene Swain, executive vice president at Consolidated Analytics, Inc., as vice chair.
MISMO said the specification has reached “Candidate Recommendation” status, meaning it has undergone broad industry review, achieved consensus and is ready for implementation.
The organization is encouraging lenders, AMCs, valuation providers and technology vendors to download and evaluate the standard as adoption efforts move forward.
This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication.
2026 The Thousand: eXp team provides ‘Anchor’ for military families
When Kelli Salter launched Anchor Real Estate in 2020, the military spouse and real estate professional was searching for a better way to serve members of the armed forces who form the backbone of the Jacksonville, North Carolina, housing market.
Six years later, that decision has helped propel Anchor Real Estate to national recognition.
The business earned the No. 16 spot for transaction sides among medium-sized teams in RealTrends Verified’s 2026 The Thousand rankings — closing 285 transaction sides last year and accounting for nearly $86 million in volume.
Anchor has built its business around helping service members and their families navigate frequent relocations, tight timelines and long-distance transactions.
The team’s growth has continued through changing market conditions and affiliation with eXp Realty in February 2025.
“I founded Anchor when I did not see what I needed in the marketplace to support me in growing my business, so we created what I needed,” Salter said. “We certainly appreciate our military families for trusting us with the buying and selling of their homes as they come to our area for to be stationed here and trust us with selling them when they leave.”
Meeting the needs of military families
Jacksonville’s market is heavily influenced by military assignments and transfers, creating a unique environment for real estate professionals.
The city is primarily built around Marine Corps Base Camp Lejeune and the adjacent Marine Corps Air Station New River. They support a massive military community of more than 130,000 individuals — including active-duty personnel, family members, civilian employees and retirees.
Salter noted that market conditions and national events often affect the pace of military relocations and, in turn, local transaction activity.
Despite those variables, Anchor said its production levels last year were consistent with other recent periods.
“Open, transparent communication is so important,” Salter said of working with military clients. Understand that timelines are critical and that those timelines are changing — they’re moving targets. They’re often trusting [real estate agents] with a purchase or sale while they are not local. You need to truly understand what being their fiduciary means, that you are their eyes and ears on the ground.
“They are trusting you with a substantial purchase, and we have to treat it with that kind of importance. In my opinion, there is a much greater level of skill and care that is required when you are working with a client that has extenuating circumstances.”
Why Anchor joined eXp
Salter said the move to join eXp Realty was the result of careful evaluation rather than a sudden change in strategy.
“Anybody who’s ever owned or operated an independent brokerage understands the level of work that comes with that,” she said. “[eXp] provided me, as a broker, with a platform to be able to do what I love, which is coach agents and take care of the consumer without the need to have to deal with back office or with legal accounting and broker compliance support.”
Seeing respected leaders and major franchise operators move their businesses to eXp prompted a closer look at whether an independent model would continue to support long-term growth goals, Salter added.
“Ultimately we decided that we had spent our entire real estate careers ensuring that we were in the right rooms, and it became very apparent that eXp was the right room for us to move to — moving our independent brokerage to the eXp platform,” she said.
The business mindset behind transaction success
While technology has transformed many aspects of real estate, Salter believes many fundamentals remain unchanged.
“Always understand that real estate is a business,” she said. “I oftentimes see agents get in the business for a plethora of reasons, but not truly understand that real estate is a business. I have been known to say, ‘You are the CEO of You Incorporated, so hire, fire and promote accordingly.’
“If you don’t work your business, your business is not going to be where you want it to be or provide the life for your family that you want. As flashy and fun as it is, at the end of the day, it is a business and it is a full contact sport.”
Salter said agents often become distracted by technology platforms, marketing tools and industry trends while overlooking the most important aspect of the profession: relationships.
“The people that win in real estate are the people who talk to the most people who want to buy and sell real estate,” she said. “The tech is great. I have wonderful tech partners that I absolutely love and would consider friends, but your tech, your platform, your broker — all of the tertiary things mean nothing if you don’t actually work your business and go talk to the consumer.”
Advice for agents considering a major move
Having successfully launched an independent brokerage and later transitioned it to a national platform, Salter encourages agents considering major career moves to seek guidance from the right sources.
“Ensure that you explore your options and talk to people that are doing what you want to do,” Salter said. “Go outside of your current peer group to talk to people who are actually at the level that you want to be at and understand that they’re talking to people that are also at the level that they want to be at.
“There are a lot of people who want to reach back and help you on your journey. Ask a lot of questions. In the real estate industry, it’s so important that you ensure that you are talking to people who have a business and live a life that you actually want to live.”
For Anchor Real Estate, that willingness to evaluate options, embrace change and remain focused on serving military families has helped transform a brokerage founded to solve a local need into one of the country’s top-performing real estate teams.
Your guide to Pride in NYC: Parades, parties, and more
When June arrives in New York City, the five boroughs come alive with celebrations honoring the contributions and impact of the lesbian, gay, bisexual, transgender, and queer communities. In today’s political climate, marked by continued attacks and hostile rhetoric directed towards the LGBTQIA+ community, honoring Pride is more crucial than ever. Ahead, here’s a guide to make the most out of Pride Month in the five boroughs, from the iconic Pride March to a vast selection of vibrant parties, live performances, and cultural events.
Official NYC Pride 2026 events
NYC Pride March
Sunday, June 28 at 12 p.m.

Stepping off at 12 p.m. from 26th Street and Fifth Avenue, this year’s NYC Pride March will head south along Fifth Avenue before turning west onto Eighth Street. The procession then continues through Christopher Street past the Stonewall National Monument, turns north on Seventh Avenue, and concludes near 16th Street after passing the NYC AIDS Memorial.
This year’s grand marshals are Bowen Yang, Dominique Jackson, Peppermint, the advocacy group Gays Against Guns, and Bernie Wagenblast, the “voice of the MTA,” according to Gothamist.
The theme of this year’s NYC Pride is “For All of Us,” referencing a quote widely attributed to LGBTQIA+ activist and Stonewall veteran Marsha P. Johnson: “There is no pride for some of us without liberation for all of us.” As transgender and nonbinary Americans continue to face political and legal challenges, organizers say the theme highlights both the legacy of early queer activists and the ongoing fight for equality today.
PrideFest
Sunday, June 28, at 11 a.m., Greenwich Village
As the largest LGBTQIA+ street fair in the United States, PrideFest will take over Fourth Avenue from East 14th Street to East 8th Street in Manhattan for a day of free activities. The all-day celebration features local businesses alongside live entertainment, food vendors, interactive activities, and more.
Re-United Pride 2026
Sunday, June 28, at 3 p.m., HK Hall, 605 West 48th Street
NYC Pride’s official womxn event, Re-United Pride, will once again bring its high-energy celebration of lesbian, queer, trans, and non-binary individuals to HK Hall in Hell’s Kitchen. Hosted by Cynthia Russo, LoverGirlNYC, LasReinasNYC, and NYC Pride, the party spans two floors and features nonstop music, DJs, live performances, dancers, full bars, food, and surprises. Early bird tickets start at $25, while general admission ranges from $30 to $40. More information and tickets are available here.
Youth Pride
Friday, June 26, at 11 a.m., South Street Seaport Museum
The annual Youth Pride event offers a safe and inclusive space for young people to express themselves, connect with others, and celebrate their identities. Hosted at Pier 16, this year’s celebration is expected to attract more than 5,000 queer youth for a day of programming, including free food and snacks, carnival activations, musical performances, DJs, special guest appearances, and more.
Planet Pride: The Great Return
Saturday, June 27, Pacha New York, 140 Stewart Street
Planet Pride, one of the largest Pride parties in North America, returns with a 12-hour celebration spanning two stages and running late into the night and early morning. The event will take over Pacha New York in Brooklyn, an 80,000-square-foot indoor-outdoor venue, with a lineup featuring three announced headliners, one surprise guest, and more than 15 international DJs and performers. General admission tickets start at $109.49 and can be purchased here.
Waack to the Future
Friday, June 26 at 7:30 p.m., 3 Dollar Bill, 260 Meserole Street
Some of the world’s most prominent street dancers are set to converge at 3 Dollar Bill in East Williamsburg for an awe-inspiring night of performances. Born in the Black and LGBTQ+ disco clubs of 1970s Los Angeles, Waacking has since become a global street dance movement known for its high expressivity and theatricality. The theme of this year’s event is “Waack X K-Pop,” shining a spotlight on the ways aspects of Waacking can be seen in the world of K-Pop. General admission tickets cost $45 and can be purchased here.
Dance on the River Cruise
Sunday, June 28, from 7 p.m. to 11 p.m., Pier 83 at West 42nd Street
The official sober event for NYC Pride, the Dance on the River Cruise promises the same level of excitement as other celebrations without the hangover. The alcohol-free cruise departs from Pier 83 at sunset, drifting past the Statue of Liberty and other Manhattan landmarks as guests celebrate Pride and sobriety through dance and celebration. General admission tickets cost $65 and are available for purchase here.
Sports
Legacy of Pride Night with the New York Yankees
Wednesday, June 17, at 7:05 p.m., Yankee Stadium
The Yankees’ “Legacy of Pride” night returns on June 17, when the team takes on the Chicago White Sox. Each ticket comes with a $15 food and beverage voucher and a New York Yankees hat with the Yankees logo in the colors of the Progress Pride Flag. A portion of every ticket sold as part of the special offer will benefit The Stonewall Inn Gives Back Initiative, which awards $10,000 scholarships to student leaders in each borough every year.
New York Mets Pride Night
Friday, June 26 at 7:10 p.m., Citi Field
The Mets’ annual Pride Night returns to Citi Field on June 26 as the team takes on the Philadelphia Phillies. The event will feature DJs, in-game entertainment, Mets Pride-themed merchandise, themed cocktails, and more. The first 15,000 fans will receive a Mets Pride sleeveless jersey, presented by Delta Air Lines, and the night will conclude with Pride-themed fireworks.
Fans can start the celebration early at a free pregame party at Willets Point Brewery on Seaver Way, hosted by Jan Sport from RuPaul’s Drag Race, from 5 to 7 p.m. The party will feature a live DJ, mascot appearances, and performances by the Queens Crew. Tickets to the game are available for purchase here.
Pride Ride 2026
Sunday, June 14, from 3 p.m. to 12 a.m.
The largest single-day queer cycling event and fundraiser in the country is inviting riders to celebrate Pride on two wheels. Hosted by OutCycling, the annual Pride Ride brings together LGBTQIA+ and allied cyclists of all skill levels for a day on the road, with route options of 40, 65, or 100 miles. Each route is fully marked, features rest stops, and is supported by on-course mechanics to help ensure a safe and enjoyable experience for participants. The event concludes with a barbecue, drinks, and a community celebration. Registration costs $149 and includes an official Pride Ride jersey.
Neighborhood & borough Pride
Brooklyn Pride Twilight Parade
Saturday, June 13, from 7:30 p.m. to 10 p.m., Fifth Avenue from Lincoln Place to Eighth Street
The annual Brooklyn Pride Twilight Parade is the only evening Pride parade in the Northeast, capping the end of a full day of festivities in Park Slope. As part of two weeks of Brooklyn Pride events, the streets will be filled with organizations and community members marching in support of Brooklyn’s LGBTQIA+ community. Sidewalks along the parade route tend to fill up quickly, so attendees are encouraged to arrive early to secure a spot.
Da Bronx Pride Festival
Saturday, June 20, from 12 p.m. to 6 p.m., Westchester and Third Avenues
Da Bronx Pride Festival promises an entire day of unapologetic Pride in the heart of the borough, complete with live performances, local vendors, and community programming. This year’s festival is hosted by June Jambalaya from “RuPaul’s Drag Race,” with performers including Safire, Infinite Coles, and JoJo. There will also be dance crews, soccer-themed ball games with prizes, and more.
Brooklyn Youth Pride
Saturday, June 20, from 12 p.m. to 5 p.m., Industry City
Young Brooklynites in the LGBTQIA+ community are invited to a day of celebration and self-expression at Sunset Park’s Industry City. The event, designed as a safe space for youth ages 11 to 19, will feature arts and crafts, a talent show, guest DJs, giveaways, food vendors, carnival games, photo opportunities, and more. RSVP for the free event here.
Harlem Pride
Saturday, June 27, from 12 p.m. to 6 p.m., 12th Avenue
The vibrant LGBTQIA+ community of Harlem comes together for the neighborhood’s signature Pride event. This year’s celebration will feature guest appearances, live performances, food, vendors, and remarks from community leaders, health practitioners, and elected officials.
Flatiron NoMad Partnership
Events throughout June
Returning for its second year, the monthlong Pride celebration “PRIDE: Start with Love” is bringing the Flatiron and Nomad neighborhoods to life with LGBTQIA+ programming and public art. Designed to uplift LGBTQIA+ artists, business owners, and community members, the initiative features installations, local business promotions, and giveaways.
Throughout the month, the clock tower of the New York EDITION building will be illuminated in Pride colors. At Flatiron North Plaza, visitors can take photos in a seasonal Pride frame designed by artist Charlotte Hailstone Wu.
From June 15 to 30, a tape art installation by artist Kuki Go will activate pedestrian extensions along Broadway, guiding visitors along a route that highlights sites connected to LGBTQIA+ history. Beginning June 18, QR codes along the trail will offer chances to win prizes from local businesses, including a grand prize for visitors who check in at all seven locations.
Museums & cultural institutions
NYC Aids Memorial
Events throughout June

The New York City AIDS Memorial has revealed its schedule of Pride events for June. The memorial, which holds deep historical significance for the LGBTQIA+ community, is a notable stop on the NYC Pride March and an important site for remembrance and dialogue.
This year’s programming arrives amid renewed calls for LGBTQIA+ activism and advocacy as legislative and governmental challenges to LGBTQIA+ rights continue nationwide. The memorial will also celebrate its 10th anniversary in December. Events will take place at the Memorial at St. Vincent’s Triangle in the West Village.
On June 20, the Memorial will unveil “Eternal Flame for Scott Burton” by Oscar Tuazon, a new public art commission that will serve as the centerpiece of the memorial’s 10th anniversary programming. The artwork honors artist Scott Burton, an acclaimed sculptor who died from AIDS-related complications in 1989.
Following the unveiling, the memorial will host an open house featuring live music and performances. A floral installation by “Legends of Drag” creators Devin Antheus and Harry James Hanson will anchor the space, inspired by Gilbert Baker’s original 1978 Pride flag. Featured performers include drag icons Barbara Herr, Egyptt LaBeija, and Simone, along with a lineup of DJs.
NYC LGBTQ Historic Sites Project
Events throughout June
June marks a time of celebration for the NYC LGBTQ Historic Sites Project, and its 10th anniversary adds even more to honor. Throughout the month, the organization is hosting a series of tours where participants can learn about LGBTQIA+ history across Manhattan neighborhoods and landmarks.
Featured events include a “Lesbian Herstory” walking tour of Greenwich Village on June 16, an East Village walking tour on June 18, a “Park-to-Park Pride” tour of the Upper West Side, and a June 24 webinar on ongoing efforts to preserve LGBTQ+ historic sites. The month also includes a walking tour of the area surrounding the Stonewall Inn on June 24.
Whitney Museum of American Art
Events throughout June

The Whitney Museum of American Art has a full slate of Pride Month programming, returning with a stacked lineup of events ranging from free admission and live performances to arts and crafts workshops and tours.
On Friday, June 12, visitors can enjoy free admission, art, drinks, and city views from 5 to 10 p.m., while experiencing the fifth edition of Mixtape Vol. 5, hosted by Ms. Carrie Stacks and Ms. Z Tye, who will perform in the museum’s lobby. Earlier that evening at 6 p.m., visitors can join a Queer History Walk through the Meatpacking District to learn about the impact of LGBTQIA+ communities in the area surrounding the Whitney.
On Sunday, June 14, the museum will offer free admission from 10:30 a.m. to 6 p.m. as part of its Free Second Sunday program. At 11 a.m., Spiral Books will lead a storytime in the lobby, while from 11 a.m. to 3 p.m. in the third-floor Artspace, artists can contribute to the Whitney Community Pride Mural, a yearly tradition. At 11:30 a.m. and 1:30 p.m. in the third-floor theater, the museum will welcome the Queer Urban Orchestra for family-friendly performances inspired by works in the 2026 Biennial.
Musical programming continues at 3 p.m. and 4:30 p.m. in the third-floor theater with the return of WICKED on Broadway, where visitors will be immersed in the Land of Oz through performances by Natalia Vivino, Amanda Jane Cooper, and Ryan Mac, followed by a themed figure drawing session led by Whitney educators.
Additional programming includes a guided close-looking-through-dialogue session on June 14 at 3 p.m., and another Queer History Walk at 4 p.m.
Cathedral of St. John the Divine
1047 Amsterdam Avenue at 112th Street
Events throughout June

Morningside Heights’ Cathedral of St. John the Divine is hosting a vibrant lineup of Pride Month festivities, continuing its celebration of LGBTQIA+ voices and stories. Programming includes an “Evensong” service on June 21 featuring LGBTQIA+ composers and performances by the Cathedral Community Choir, and a celebration of Pauli Murray on July 1, hosted in collaboration with the American LGBTQ+ Museum.
Pride & Preservation
Tuesday, June 9, from 6 p.m. to 8 p.m., The J.M. Kaplan Fund, 71 West 23rd Street, #903, Nomad
Presented by the NYC LGBTQ Historic Sites Project, this moderated conversation explores the often-overlooked role LGBTQ individuals played in shaping preservation movements from Virginia to New York City. Spanning the 1930s through the late 20th century, the discussion will focus on preservationists Albert Bard, Thom Bess, and Mary Wingfield Scott. Speakers Anthony C. Wood, John Reddick, and Blake McDonald will examine their lasting influence on preservation work and the relevance of their legacy today. Advance registration is required.
Other events
Criminal Queerness Festival
Wednesday, June 10 to Saturday, June 27, HERE Arts Center, 145 Sixth Avenue
Hosted by the National Queer Theater, the award-winning Criminal Queerness Festival showcases works by artists from countries where queerness is criminalized or censored. First held in 2019, the annual festival provides a platform for artists to share their stories in a safer space while raising awareness and building solidarity.
This year’s lineup includes “Area D” by LOUR; “faggy faafi Cairo Boy” by Bazeed; and “Syrian Soap” by E. Zaalan. Learn more about the festival and purchase tickets here.
Zestyworld: A Pride Celebration
Thursday, June 11, from 6 p.m. to 9 p.m., High Line between 15th and 16th Streets
The Friends of the High Line is collaborating with Zestyworld, a Black- and Brown-centered LGBTQ+ party collective, for a Pride celebration on the iconic elevated park. Taking place on the covered passage on the High Line at 15th Street, the free, 21+ event will feature music, movement, and community programming for LGBTQIA+ attendees and allies. You can RSVP for the 21+ event here.
NYC Dyke March
Saturday, June 27, at 5 p.m., Bryant Park

The annual NYC Dyke March is an important exercise of First Amendment rights and, importantly, a protest rather than a parade. The march is organized by and for the Dyke community, and centers collective advocacy against discrimination, harassment, and violence, while also celebrating its diversity and presence. Anyone who identifies as a Dyke is encouraged to march, regardless of gender expression or identity, sex assigned at birth, sexual orientation, race, age, political affiliation, religion, ability, class, or immigration status.
Queer Liberation March
Sunday, June 28, at 3 p.m., Union Square West

Created to honor the spirit of the Stonewall Riots and elevate the voices and needs of marginalized LGBTQIA+ communities, the annual Queer Liberation March is a major demonstration of LGBTQIA+ advocacy. Organized by the Reclaim Pride Coalition, the march follows the tradition of early Pride events by rejecting corporate sponsorship and police presence.
This year’s theme is “Breaking the Chains of War and Oppression for Trans and Immigrant Rights.” The march will gather at 2:30 p.m. at Union Square West before stepping off at 3 p.m. toward Foley Square.
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The post Your guide to Pride in NYC: Parades, parties, and more first appeared on 6sqft.
How Bitcoin Lost Its Grip On The Crypto Market And What It Means For Altcoins
Bitcoin (CRYPTO: BTC) has long been the undisputed leader of the cryptocurrency market – but its grip is shifting. Bitcoin dominance, a key metric that tracks BTC’s share of the total crypto market capitalizations, has fallen from a peak of 95% in 2013 to 58.1% today – a structural decline that reflects the extraordinary growth of Ethereum (CRYPTO: ETH) and the broader altcoin ecosystem. This article breaks down what BTC dominance vs altcoin trends are telling us, what the numbers mean for the broader crypto market, and why Ethereum’s declining dominance deserves a closer look.
What Is Bitcoin Dominance?
Bitcoin dominance measures the percentage of the total cryptocurrency market capitalization that Bitcoin accounts for. When Bitcoin dominance is high, it means the majority of crypto capital is concentrated in BTC. When it falls, capital is rotating into Ethereum and altcoins – a shift that historically precedes what traders call “altcoin season.”
In the early days of cryptocurrency, Bitcoin dominated the crypto market from 2013 to 2016, with daily Bitcoin dominance averaging between 82.6% and 95% per year. During this nascent period, Bitcoin’s majority dominance of crypto reached a high of 99.1%. The total crypto market was essentially Bitcoin – altcoin dominance accounted for just a fraction of the remaining market.
As new assets launched and the ecosystem diversified, Bitcoin’s share began a long, structural decline. Starting near 100% in 2014, Bitcoin’s dominance dropped below 40% by 2017 as Ethereum’s launch and the ICO boom pulled capital toward altcoins.
By the end of 2017, Bitcoin dominance had fallen to just 42% – a 53.65% decline from 2016 levels – as the rise of …
Peter Schiff: Owning MSTR Is ‘The Worst Way’ To Play Bitcoin
Strategy Inc. (NASDAQ:MSTR) is facing renewed criticism after economist Peter Schiff argued the company’s latest Bitcoin (CRYPTO: BTC) purchase destroyed shareholder value.
“Owning MSTR Is The Worst Way“
In an X post on June 9, Schiff sparked a debate over leverage, dilution and the sustainability of Michael Saylor’s Bitcoin accumulation strategy. He claimed Strategy is already sitting on a loss of more than $6 million from its recent purchase of 1,550 Bitcoin.
Over the past five days, MSTR is down over 8%.
According to Schiff, the acquisition not only lost value …
Stablecoin Supply Is A Weaker Bitcoin Signal Than Traders Think
Crypto traders still watch stablecoin supply like a buy signal. That reading is getting less reliable.
The shortcut was simple. If more USDT or USDC was sitting in the system, there was more cash waiting to move into BTC, ETH or other digital assets.
That shortcut is weaker now.
For trading liquidity, stablecoins still matter. But they are also used for payments, remittances, settlement and dollar access in markets where moving money through banks can be slow, costly or restricted.
That makes the signal harder to read.
A larger stablecoin market does not automatically mean more buying pressure for Bitcoin. The better question is where the coins are moving, who’s using them and whether they are getting closer to trading venues.
The market is no longer small enough to treat stablecoins as one clean crypto signal.
The Federal Reserve said stablecoin market capitalization grew by more than 50% since early 2025, reaching $317 billion as of April 6, 2026.
Citi has also raised its 2030 stablecoin issuance forecast to $1.9 trillion in its base case and $4 trillion in a bull case.
Stablecoin Supply Alone No Longer Tells the Story
Dinis Guarda, Cryptocurrency Expert, Champions Speakers Agency, says:
“Stablecoins are not moving closer to mainstream — they are already there.”
Investors need to absorb this part. Stablecoins are no longer just money parked on exchanges. They are becoming financial infrastructure.
For years, a rise in stablecoin supply often meant capital was sitting near the market and ready to rotate into crypto assets. Does that signal still has value? Yes, when coins are moving onto exchanges and spot volume follows.
However, the read is different if stablecoin growth is happening away from trading venues. It may reflect remittances, payment flows, business settlement, treasury use or demand for digital dollars. Those are useful adoption signals. They are not the same as near-term buying pressure.
The distinction matters for …
Bitcoin Drops Below $62,000 As Ethereum, XRP, Dogecoin Plunge 2.5% Ahead Of Key U.S. CPI Report
Bitcoin fell below $62,000 amid a macro-driven risk-off move that pushed market sentiment deeper into extreme fear on Tuesday.
| Cryptocurrency | Ticker | Price |
| Bitcoin | (CRYPTO: BTC) | $61,677.13 |
| Ethereum | (CRYPTO: ETH) | $1,642.68 |
| Solana | (CRYPTO: SOL) | $64.79 |
| XRP | (CRYPTO: XRP) | $1.13 |
| Dogecoin | (CRYPTO: DOGE) | $0.08476 |
| Shiba Inu | (CRYPTO: SHIB) | $0.054652 |
Notable Statistics:
- Coinglass data shows 132,341 traders were liquidated in the past 24 hours for $449.76 million.
- SoSoValue data shows net outflows of $91.4 million from spot Bitcoin ETFs on Monday. Spot Ethereum ETFs saw net inflows of $82.4 million.
- In the past 24 hours, top losers include Humanity, siren and Venice Token.
Notable Developments:
Jeff Bezos Says the Bottom Half of Earners Should Pay Zero in Federal Income Taxes
NEW YORK — Amazon founder and Executive Chairman Jeff Bezos has reignited debate over taxes, government spending, and economic inequality with a simple but provocative proposal: the bottom half of American income earners should pay no federal income tax at all.
Speaking during a CNBC “Squawk Box” interview with Andrew Ross Sorkin on May 20, comments that resurfaced in business discussions this week, Bezos argued that politicians often spend too much time looking for people to blame instead of solving the underlying problems.
Rather than focusing on villains, Bezos said leaders should approach economic challenges the same way successful companies tackle operational issues: identify the root cause and fix it.
His most attention-grabbing comment involved taxes.
Bezos noted that the bottom 50% of American earners account for only about 3% of federal income tax revenue. Because that percentage is so small relative to the size of the federal budget, he argued the government could eliminate that tax burden entirely.
“It should be zero,” Bezos said.
In practical terms, Bezos was referring specifically to federal income taxes, not payroll taxes, state taxes, property taxes, or sales taxes.
His argument was straightforward: if lower-income households contribute only a small portion of federal income-tax collections, removing that burden could provide meaningful relief without dramatically affecting overall government finances.
The broader point, however, was less about tax policy and more about problem-solving.
Bezos said political leaders frequently fall into the trap of identifying villains rather than identifying causes.
When confronted with a problem, he argued, many people instinctively search for someone to blame. That may generate headlines and political support, but it rarely solves the issue itself.
Instead, Bezos pointed to a management approach long used inside Amazon known as the “Five Whys.”
The method requires repeatedly asking why a problem occurred until reaching its underlying cause. Once the root issue is identified, solutions become clearer and often more permanent.
The philosophy has been widely credited with helping Amazon scale from an online bookstore into one of the world’s most valuable companies.
Whether that same approach can be applied to national economic policy is another question entirely.
The comments arrive amid a continuing national debate about taxes and wealth inequality.
For years, Bezos himself has been a central figure in those discussions.
Critics have frequently argued that billionaires pay too little in taxes relative to their wealth. A widely cited ProPublica investigation published in 2021 reported that Bezos paid no federal income tax in certain years because much of his wealth existed in stock holdings rather than traditional income.
The findings fueled calls from lawmakers, including Senator Elizabeth Warren, for new wealth taxes and changes to the tax code aimed at high-net-worth individuals.
Critics of Bezos’s latest proposal also point out that lower-income Americans already pay significant taxes beyond federal income taxes.
Workers contribute payroll taxes that fund Social Security and Medicare, while state income taxes, sales taxes, gasoline taxes, and property taxes often consume a larger share of lower-income households’ budgets than they do for wealthier Americans.
As a result, some economists argue that focusing only on federal income taxes provides an incomplete picture of the overall tax burden faced by working families.
To his credit, Bezos did not frame his argument as opposition to taxation itself.
During the interview, he acknowledged that reasonable people can disagree about what constitutes a fair tax system.
He also supported certain targeted tax proposals, including New York’s long-discussed pied-à-terre tax on luxury second homes.
His larger concern, he said, was the tendency of political debates to devolve into finger-pointing rather than practical problem-solving.
The timing is notable.
The discussion comes as policymakers in Washington continue debating changes to the federal tax code. Recent proposals have included higher tax rates for top earners, expanded tax credits for working families, and various efforts to reduce budget deficits while addressing affordability concerns.
At the same time, rising housing costs, inflation pressures, and economic uncertainty have left many Americans searching for solutions that could improve household finances.
Whether Bezos’s proposal gains traction is another matter.
Eliminating federal income taxes for the bottom half of earners would undoubtedly provide relief to millions of households, but it would also require lawmakers to decide how to replace the lost revenue or reduce government spending elsewhere.
For now, the comments serve as a reminder that one of the world’s richest individuals views economic challenges through the same lens he applied to building Amazon: identify the root cause, focus on solutions rather than blame, and fix the problem at its source.
Whether Americans see that as practical wisdom or simply a billionaire’s perspective on public policy will likely depend on their own views about taxes, government, and economic fairness.
JBizNews Desk — Economy
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JetBlue Bets on First-Class Seats to Win Back Higher-Paying Flyers
NEW YORK — JetBlue Airways is preparing one of the most significant changes in its history.
For the first time, the airline best known for affordable fares and generous coach seating will introduce a domestic first-class product, marking a major shift in strategy as it seeks to improve profitability and attract higher-paying travelers.
Chief Executive Officer Joanna Geraghty told employees the airline remains on track to launch the new cabin in 2026, with roughly one-quarter of the fleet retrofitted next year and most aircraft completed by the end of 2027.
The move reflects a simple reality.
Premium travel has become one of the most profitable segments of the airline industry.
While many travelers continue searching for low fares, airlines increasingly earn their strongest margins from customers willing to pay more for additional comfort, priority services, and upgraded experiences.
Competitors including Delta Air Lines, American Airlines, and United Airlines have spent years expanding premium offerings.
JetBlue is now trying to capture a larger share of that market.
Industry observers often refer to the planned cabin as “Mini Mint” or “Junior Mint,” a reference to JetBlue’s existing premium Mint product.
The new seats will resemble traditional domestic first-class cabins offered by larger airlines and will be installed across Airbus A220, A320, and A321 aircraft.
The strategy comes with tradeoffs.
To create space for larger first-class seats, JetBlue plans to reduce economy-seat pitch from approximately 32 inches to 30 inches on portions of its fleet.
That may seem like a small change, but JetBlue built much of its reputation on offering more legroom than competitors.
The company is effectively betting that additional premium revenue will outweigh any dissatisfaction among coach passengers.
Geraghty argues demand supports the move.
Travelers increasingly seek premium experiences, yet many remain unwilling to pay the prices charged by larger legacy airlines.
JetBlue hopes to position itself between traditional low-cost carriers and premium airlines, offering upgraded products at more accessible prices.
The first-class expansion is part of a broader premium strategy.
The company has already begun opening airport lounges in key markets including New York JFK and Boston while also investing in enhanced onboard connectivity through partnerships such as Amazon’s Project Kuiper.
Combined with Mint business class and upgraded economy products, the airline hopes to create a full spectrum of travel options.
The financial pressure behind the strategy is substantial.
JetBlue has struggled to return to consistent profitability following the pandemic and has faced setbacks including the collapse of its alliance with American Airlines and the blocked acquisition of Spirit Airlines.
At the same time, higher fuel prices and intense competition continue squeezing margins.
For travelers, the changes create both winners and losers.
Passengers willing to spend more will gain access to a larger seat and premium experience at a potentially lower price than traditional first class.
Budget-conscious travelers may lose some of the extra space that helped distinguish JetBlue from competitors.
Ultimately, the success of the strategy will depend on a simple question.
Can enough customers be persuaded to pay more?
If the answer is yes, JetBlue may finally find a path back to stronger profitability.
If not, the airline risks weakening one of the very features that made customers choose JetBlue in the first place.
After years of financial challenges, the carrier is making a clear bet: the future of airline profits increasingly sits at the front of the aircraft.
JBizNews Desk
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Social Security has less than 10 years before reserves are exhausted, new trustees report warns
The clock is ticking faster for American workers and seniors.
The Social Security Administration’s newly released 2026 Trustees Report confirms that the federal retirement safety net is less than seven years away from fiscal depletion, as the Old-Age and Survivors Insurance (OASI) trust fund will completely exhaust its accumulated reserves in the fourth quarter of 2032.
Once the reserve dries up, ongoing tax revenues will cover only 78% of scheduled retirement benefits, according to the report.
“One Big Beautiful Bill Act (OBBBA): Enacted on July 4, 2025, this law makes permanent the lower income tax rates and adjusted tax brackets originally enacted under the 2017 Tax Cuts and Jobs Act and both increases and makes permanent the larger standard deduction of the 2017 Act,” the report says.
AMERICANS RETHINK SOCIAL SECURITY TIMING AS LONGER LIFESPANS AND INSOLVENCY FEARS RAISE THE STAKES
“The OBBBA also adds a temporary additional standard deduction for taxpayers over age 65,” it says. “As a result, less income tax will be paid on Social Security benefits, and the OASI and DI Trust Funds will receive lower levels of revenue in the future from income taxation of Social Security benefits.”
The nonpartisan Congressional Budget Office (CBO) previously warned about the fund’s insolvency date, explaining that, “because the government would not have the legal authority to make payments in excess of receipts, it would no longer be able to pay the full amounts scheduled or projected under current law.”
Social Security benefits are funded by payroll tax receipts along with the OASI trust fund, and once the trust fund is tapped out, the federal government would only be able to pay benefits equal to incoming payroll tax revenue under current law — meaning benefits would face cuts without action by Congress.
In an interview on the “Moon Griffon Show” Monday, House Speaker Mike Johnson, R-La., said: “The reason we’re in trouble is because over 74% of federal spending is on autopilot — mandatory spending, that is your entitlement programs like Medicare, Medicaid and things like Social Security — they have to be adjusted and fixed.”
“We have a plan to do that next year, and it’s critical, because we’re at $40 trillion-plus in debt. At some point you get into a hole so deep you can’t climb out of it, so desperate times call for desperate measures,” Johnson said.
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The Social Security Administration’s latest trustees report suggests that, if Congress alters the law to allow fund sharing between the retirement and healthier disability insurance system, the total depletion window can be extended to the third quarter of 2034. Following a combined depletion in 2034, 83% of scheduled benefits will be funded by ongoing payroll collections.
“The Trustees recommend that lawmakers address the projected trust fund shortfalls in a timely way to phase in necessary changes gradually and give workers and beneficiaries time to adjust,” says the report. “Implementing changes sooner rather than later would allow more generations to share in the needed revenue increases or reductions in scheduled benefits.”
FOX Business’ Eric Revell contributed to this report.
Powell Warns Political Pressure on the Fed Could Become a Major Threat to Markets
BOSTON — Former Federal Reserve Chair Jerome Powell is warning that one of the biggest risks facing the U.S. economy may not be inflation, recession, or financial instability, but political interference in the nation’s central bank.
Speaking while accepting the 2026 John F. Kennedy Profile in Courage Award on May 31 in Boston, Powell said the independence of the Federal Reserve remains one of the most important pillars supporting confidence in the U.S. economy and financial markets. The Federal Reserve later published the full text of his remarks.
Powell argued that the Fed’s ability to make decisions free from political pressure is a “priceless asset” that took generations to build and could be damaged if elected officials gain greater influence over monetary policy decisions.
His message was straightforward.
If future presidents can remove Federal Reserve officials simply because they disagree with interest-rate decisions, Powell said, investors and the public may eventually lose confidence that monetary policy is being set for the benefit of the country rather than for political advantage.
The warning arrives during an increasingly visible debate over interest rates.
The Federal Reserve was established by Congress in 1913 and was deliberately structured to operate independently from day-to-day political pressures. Governors serve staggered 14-year terms, ensuring that no single administration can completely reshape the institution.
The purpose is simple: allow policymakers to make difficult decisions on inflation, employment, and economic growth without worrying about election cycles.
For financial markets, that independence carries enormous value.
Investors buy U.S. Treasury bonds and hold U.S. dollars partly because they believe the Federal Reserve will act when necessary to keep inflation under control. If markets begin to doubt that commitment, borrowing costs can rise and confidence can weaken.
Powell spent much of his tenure defending that principle.
The award recognized his efforts to maintain the central bank’s independence during years of political criticism and public pressure. While Powell stepped down as Fed Chair at the end of his term, he continues serving on the Federal Reserve Board of Governors and remains a voting member of the Federal Open Market Committee.
His remarks come as the Federal Reserve faces a difficult economic environment.
Inflation remains above the Fed’s long-term target, while higher energy prices linked to instability in the Middle East continue adding pressure to consumer prices.
At the same time, many business leaders, homeowners, and elected officials have argued that interest rates remain too high and are slowing economic activity.
That tension lies at the center of Powell’s concern.
Supporters of an independent Federal Reserve argue that interest rates should rise or fall based on economic data rather than political considerations. They point to historical examples around the world where politically controlled central banks contributed to higher inflation and economic instability.
Others argue that the Federal Reserve wields enormous influence over the economy and should be more accountable to elected officials who answer directly to voters.
The debate is likely to intensify as policymakers consider future interest-rate decisions.
Financial markets are watching closely because perceptions matter almost as much as policy itself.
If investors believe monetary policy decisions are being driven by political objectives rather than economic conditions, long-term borrowing costs could rise as markets demand higher returns to compensate for increased uncertainty.
That could affect mortgage rates, business loans, and government borrowing costs even if the Federal Reserve lowers its benchmark interest rate.
In other words, confidence is part of the system.
Powell’s broader message was that trust in institutions, once lost, is difficult to rebuild.
The former Fed Chair framed the issue not as a partisan argument but as a long-term question about economic credibility and stability.
For everyday Americans, the implications may seem distant, but they ultimately influence everything from mortgage payments and credit-card rates to retirement savings and investment returns.
The Federal Reserve’s next policy decisions will continue attracting attention, but Powell’s speech highlighted a larger question that extends beyond any single meeting or interest-rate move: whether markets continue believing that the central bank is making decisions based on economic realities rather than political pressure.
That confidence, Powell suggested, remains one of the country’s most valuable financial assets.
JBizNews Desk — Economy
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Most 401(k) savers may be short-changing themselves, data shows
You might think that finding the money to contribute to your 401(k) is the hardest part of saving for retirement. But choosing the right investments can also be challenging.
For this reason, many 401(k) savers take the easy way out and let their money land in a target date fund. A good 61% of 401(k) plan participants, in fact, had their money in a target date fund last year, according to Vanguard’s preview of its latest How America Saves report.
But while target date funds can be an effective solution for many savers, if you rely on one, you may end up sacrificing growth potential in your 401(k). That’s something you might regret later.
HOW ETFS CAN BE EFFECTIVE BUILDING BLOCKS FOR RETIREES
Target date funds are designed to be a one-size-fits-most solution. You select a fund based on your expected retirement year, and your assets are shifted automatically based on how close you are to that date.
Target date funds certainly make saving for retirement easy. The problem, though, is that not all savers have the same goals, risk tolerance, or financial situation.
ARE YOU A NEW STOCK MARKET INVESTOR IN JUNE 2026? HERE’S WARREN BUFFETT’S ADVICE
It’s common for target date funds to become conservative as retirement approaches. To be fair, that’s what they’re supposed to do.
But when those funds get too conservative, they can limit growth potential. That could become a problem if it leaves your 401(k) plan underfunded.
Target date funds also don’t account for investments you might have outside of your 401(k). If you have conservative assets elsewhere, you could risk a retirement savings shortfall on a whole.
TAP INTO THE HUMANOID ROBOTICS BOOM WITH THIS ETF
Target date funds are notorious for charging higher fees. Those fees could erode your returns and leave you with a 401(k) balance you’re less than pleased with.
If you’re willing to take a more hands-on approach to your 401(k), you may find that you’re able to score higher returns and reduce your fees at the same time.
Many 401(k) plans provide access to low-cost index funds that track major benchmarks such as the S&P 500. Leaning on these funds could help your money grow at a stronger pace without having to pay for active fund management.
You can also mix and match funds in your 401(k) to get exposure to different corners of the market. For example, if you’re on the younger side and have a greater tolerance for risk, you may want to choose funds that invest in international stocks or small-cap companies.
This doesn’t mean that target date funds are a bad choice for savers universally. They tend to do a great job of promoting portfolio diversification.
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Rather, it’s that if you don’t look outside of a target date fund, you may end up with sluggish returns that limit your spending power in retirement. Taking the time to review your 401(k)’s investment choices could push you to choose more optimal investments that help you meet your retirement goals.
If you’re like most Americans, you’re a few years (or more) behind on your retirement savings. But a handful of little-known “Social Security secrets” could help ensure a boost in your retirement income.
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Why a New Jersey Bank Is Selling $1.4 Billion in New York Apartment Loans
RED BANK, N.J. — Just one week after closing a major acquisition, a New Jersey bank is already shedding one of the largest risks it inherited.
OceanFirst Financial Corp., the parent company of OceanFirst Bank, announced Monday that it has agreed to sell approximately $1.4 billion of multifamily apartment loans acquired through its recent purchase of Flushing Financial Corporation, a transaction that officially closed on June 1, 2026.
The move will dramatically reduce OceanFirst’s exposure to New York City’s heavily regulated apartment market and lower the bank’s overall concentration in commercial real estate.
For investors, regulators, and borrowers alike, the sale highlights how New York housing policy is increasingly influencing decisions far beyond the city itself.
The loans being sold are primarily mortgages backed by multifamily apartment buildings throughout New York City, many of which contain rent-stabilized units. Those properties operate under regulations that limit how much landlords can increase rents and restrict their ability to remove apartments from rent regulation.
OceanFirst inherited the portfolio through its acquisition of Flushing Financial, the parent company of Flushing Bank, one of the largest lenders to multifamily property owners in New York’s outer boroughs.
The acquisition also included a $225 million strategic investment from Warburg Pincus, providing additional capital for the combined institution.
So why sell the loans almost immediately after buying them?
The answer lies in New York’s changing housing landscape.
Since the passage of New York’s Housing Stability and Tenant Protection Act of 2019, many rent-regulated apartment buildings have become more difficult to finance. The law sharply limited landlords’ ability to raise rents and reduced opportunities to increase property values through renovations and unit turnover.
As a result, many lenders have become increasingly cautious about holding large concentrations of loans backed by rent-stabilized buildings.
The uncertainty has only intensified in recent years.
New York City Mayor Zohran Mamdani has repeatedly advocated freezing rent increases for stabilized apartments, a proposal that landlords argue would further reduce building income and make it more difficult to cover maintenance costs, taxes, insurance, and mortgage payments.
For banks holding billions of dollars in apartment loans, those policy debates directly affect risk calculations.
In practical terms, OceanFirst is choosing to reduce its exposure before conditions potentially become more challenging.
The bank noted that it had already anticipated the sale when it announced the Flushing acquisition. The loans were marked down appropriately during the merger process, meaning the transaction is expected to align with previous financial assumptions rather than create an unexpected loss.
According to disclosures made during the merger, the multifamily portfolio consisted largely of relatively conservative loans.
Average loan balances were approximately $1.3 million, and the portfolio carried an average loan-to-value ratio of roughly 55%, meaning borrowers generally had substantial equity invested in their properties.
The concern is less about current borrower performance and more about long-term regulatory risk.
Nearly half of the portfolio was tied to fully rent-regulated buildings, placing it squarely in one of the most politically sensitive segments of New York real estate.
Bank of America has been overseeing the sales process, though OceanFirst has not publicly identified the buyer or buyers involved.
The proceeds will not sit idle.
OceanFirst said it plans to reinvest the funds into highly liquid, investment-grade securities that are expected to generate yields comparable to the loans being sold.
That allows the bank to reduce risk without significantly sacrificing earnings.
The strategy reflects a broader shift occurring across the regional banking industry.
Since the regional banking turmoil of 2023, regulators and investors have paid closer attention to commercial real estate concentrations, particularly among midsize and regional institutions.
Banks with large exposures to office buildings, multifamily properties, or other specialized real estate categories have faced increased scrutiny.
By reducing its commercial real estate exposure by $1.4 billion in a single transaction, OceanFirst is sending a clear message that it intends to pursue growth while maintaining a more conservative risk profile.
The implications extend beyond banking.
When lenders become less willing to finance rent-regulated apartment buildings, financing becomes more expensive and less available for property owners.
That can affect refinancing options, renovation projects, building maintenance, and long-term investment in housing stock.
In that sense, the decision by OceanFirst reflects a broader trend reshaping New York’s housing market.
The regulatory environment is influencing not only who owns apartment buildings but also who is willing to lend against them.
For OceanFirst, the transaction appears straightforward.
The company gains the branches, deposits, customers, and market presence that came with the Flushing acquisition while reducing exposure to one of the most heavily scrutinized segments of New York real estate.
The combined institution now operates approximately 71 branches across the Northeast, stretching from Massachusetts to Virginia, with approximately $23 billion in assets.
Chairman and Chief Executive Officer Christopher Maher has repeatedly emphasized that the Flushing acquisition strengthens OceanFirst’s presence in the New York metropolitan market.
The loan sale suggests the bank’s strategy is equally clear: expand in New York, but do so without carrying the apartment-loan exposure that many lenders increasingly view as a growing source of uncertainty.
JBizNews Desk — New Jersey
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The rabbis attacking Israel’s courts are attacking Religious Zionism – opinion
Last month, a billboard went up across the street from Israel’s Supreme Court. On it was a picture of a sitting justice, Noam Sohlberg, an observant, kippah-wearing Jew – beneath a demand that he take his “Reform hands” off the Chief Rabbinate. His offense: he had ruled that women may sit for the state rabbinate’s certification exams in Jewish law.
The petition had been brought by religiously observant women, steeped in Torah and Halacha. All they were asking for was to be tested in the very body of law they already live by. Nothing in that violates halacha. (Full disclosure: I was among those who brought that petition.)
The billboard was only the beginning. Days later, a group of senior rabbis from the Hardal wing of Religious Zionism – its hardline, “haredi-nationalist” edge, which fuses ultra-Orthodox stringency with religious nationalism – issued a declaration that Jews are forbidden by their religion to obey Supreme Court rulings they deem contrary to Halacha.
Hardal vs mainstream Religious Zionism
This could amount to a call for insubordination. And this week, when haredi (ultra-Orthodox) rioters – from the separate, non-Zionist ultra-Orthodox world, enraged by a different ruling on the military draft – vandalized the courtyard of Sohlberg’s home, rabbis and public figures from the Hardal camp still found it hard to condemn the attack – because Justice Sohlberg sits on the very Supreme Court they oppose.
Looking in from the outside, in Israel and in the Diaspora alike, this seems like more of the old story: religion versus the courts, Judaism versus democracy. It is a tidy narrative. It is also wrong.
Consider who Sohlberg actually is. He is a Religious Zionist: a graduate of the State-Religious school system and of Yeshivat Har Etzion, a conservative jurist from Gush Etzion, today the Deputy President of the Supreme Court and, under Israel’s seniority system, in line to become its next president.
Sohlberg is not alone. Three of the 11 justices on Israel’s highest court are Religious Zionists, roughly double their share of the population. Religious-Zionist men and women fill senior positions throughout the Justice Ministry and the courts. I teach at Bar-Ilan University’s law faculty, where many of my most outstanding students are religious – and some will become the judges of tomorrow.
What this fight reveals is that Religious Zionism is far from being of one mind. Far from it: it is in the midst of a deep-seated internal struggle. The Hardal faction works mainly within religious spaces – through the political party that usurped the very name “Religious Zionism,” the religious media, and the religious schools.
At times it can seem to be the authentic face of the movement. But the mindset of the broader Religious-Zionist community is vastly different. It works outward and is a full partner in building the country – in hi-tech and the economy, in public service, in the army, and in the courts. This is no accident. The very ethos of Religious Zionism is integration: to bridge the sacred and the worldly, and to play an integral role in building the State of Israel.
So when Hardal rabbis brand Sohlberg “Reform”, it’s not just an insult. It is an attempt to oust him from the Religious-Zionist public. But he most certainly belongs – more fully, and more admired and emulated, than they are. Those deliberately separating themselves from the building of Israel as a Jewish and democratic state, and attacking its institutions, are betraying the core principle of Religious Zionism: being a full partner in these efforts.
The radicals are not defending Religious Zionism against a hostile court. They are turning against its success — against the sons and daughters of Religious Zionism who long ago took their place inside the institutions of the state, including its courts.
The writer is the CEO of Kolenu, a Religious-Zionist organization working to support the values of Torah, moral leadership, and social responsibility.
Trump’s relationship with Erdogan a ‘constraining factor for the Turks,’ expert tells ‘Post’
US President Donald Trump’s relationship with Turkish President Recep Tayyip Erdogan is “somewhat” “calming down” the increasingly strained relationship between Jerusalem and Ankara, Dr. Gallia Lindenstrauss, a senior research fellow at the Institute for National Security Studies specializing in Turkish affairs, told The Jerusalem Post earlier this week.
Lindenstrauss spoke with the Post only days after Turkey’s Interior Minister, Mustafa Ciftci, told crowds at the AK Party Corum Provincial Advisory Council meeting he had aspirations to one day govern Jerusalem, and that he hoped “those lands will be ours once again.”
“God willing, they will come under our sovereignty and dominion once more. Because we have a global leader like Recep Tayyip Erdogan at our helm. A world leader,” Ciftci said.
The Ottoman Empire controlled Israel for more than 400 years, ending when it lost to the Allied forces in World War I. In 1918, its leadership signed the Armistice of Mudros, surrendering to Britain.
Ciftci’s comments, which were widely condemned by Israeli officials, add to an “existing tensions,” Lindenstrauss explained.
“While this can one could dismiss this rhetoric as only one of one minister, it has to be seen in the context of other worrying remarks,” she asserted.
Erdogan stance on Israel since October 7 attacks
Erdogan has made numerous inflammatory comments directed at Israel since Hamas launched its October 7, 2023 attacks, dragging Gaza into the war and resulting humanitarian crisis. His condemnation of Israel is particularly notable as Turkey was once the first Muslim country to recognize the Jewish state less than a year after Israel declared independence.
Though Ciftci’s remarks alluded to an Ottoman occupation of Israeli territory, which is considered Palestinian territory for those advocating for a one-state solution, Lindenstrauss said she very much doubted that much outrage would be stirred across the Arab world. However, she cautioned that such a statement could further embroil Ankara in the battle for the country to head the Muslim world. The competition is largely taking place in the Palestinian territories and found in issues relating to the Israeli-Palestinian conflict.
“Turkey’s involvement in east Jerusalem was more dominant in previous years and actually, because of the war, is a little bit less dramatic than it used to be. It’s definitely raised eyebrows both in Saudi Arabia and in Jordan,” she said. “Turkey has been involved both with [giving] support to the Palestinian Authority and also with, what Turkey claims to be only political support but Israel sees as more widespread, support to Hamas.”
Additionally, amid rumors of Qatari plans to expel Hamas leadership during the hostage negotiations between the Iran-backed terror group and Israel, Turkey was largely named as the terrorists’ future host nation, cementing Turkey’s growing position of influence in the region.
Through “balancing” relations with both the PA and Hamas, Ankara has cemented its position as “one of the guarantors to the Palestinian cause in the international arena.”
Holding Turkey back from further entrenching its position as a main Palestinian backer is its NATO membership, she continued, especially as the country is set to host a NATO summit in July. This, combined with Erdogan’s relationship with Trump, has meant that Turkey must delicately balance its Western relationships with its more extremist ones.
Ankara using US relationship to dissolve Kurdish groups
Ankara is also now utilizing those relationships as part of its wider aim to disarm and dissolve Kurdish groups, she continued, referencing reports that Erdogan had asked Trump to abandon his plans to utilize Kurdish militias on the Iraqi border in the war against Iran.
“One of the concerns of military confrontation between the US and Israel with Iran was that indeed the Kurds of Iran would strengthen, perhaps even gain some autonomous rule, and that would also endanger the process Turkey’s leading with the with the PKK on its dissolvement and disarmament,” she explained. “This again goes hand-in-hand with the assessment of what are the Turkish fears of this violent confrontation with Iran. How realistic the plan to involve the Kurds was in the first place, one can question, but we know that definitely Erdogan tried to block it.”
Hit significantly less than other regional countries during the March war, Ankara is also interested in avoiding becoming a target for Tehran. Earlier, it had prepared to absorb Iran’s missiles and an influx of refugees, but was largely spared except economically, she explained.
“Turkey will largely try to remain uninvolved militarily. It will support the diplomatic front. It supported the Pakistan mediation efforts, Qatar mediation efforts, Omani mediation efforts,” she concluded. “So it will remain in this mediation level. It also said it might assist in the crisis surrounding the closure of the Strait of Hormuz, but overall, I believe it will do its best to remain uninvolved militarily and only try to influence the diplomatic front.”
Israel beats enemies on multiple fronts but risks diplomatic setbacks – analysis
Everything has changed for Israel, with Iran, Hamas in Gaza, Hezbollah, and Syria.
Pre-October 7, Israel had no security zones, was afraid of getting into fights with nearly all of its enemies, especially Iran, but had a decent, if not great, diplomatic reputation.
Now, Israel has security zones everywhere, is unafraid to bludgeon its enemies if they look at it in the wrong way, including Iran, but is not using any diplomacy or any compromises to achieve its strategic goals, leading to continually dropping lows in its diplomatic strength. Given that diplomatic strength eventually impacts military strength, especially when it comes to the US, this is not a secondary issue.
Tehran and the new Middle East
Let’s start with Iran.
Most observers forget that Israel and Iran have not fought twice in the last few years, but now rather five times.
It started in April 2024, got worse in October 2024, and then expanded much more in June 2025 and February 2026, with a smaller but not insignificant round (around 25 Iranian ballistic missiles and dozens of IDF fighter jet airstrikes) this week.
In this new Middle East, the constant rounds of big fighting is not between Israel and Hamas, but Jerusalem and Tehran.
In some ways, this new arrangement is worse for Israel, but in some ways it is much better.
It is worse because Iranian ballistic missiles are far more dangerous and scary than Hamas’s low-class rockets.
But it is much better because now when Israel fights, it can directly damage, and in that way, speak to the head of the snake.
When Israel was getting bloodied by Hamas from Gaza, round after round, year after year, Iran did not care that Hamas was losing more fighters than Israel, because the Islamic Republic was sitting pretty drinking Kool-Aid on the sidelines 1,500 kilometers away.
Now Israel has shown it is ready, willing, and able to hold Iran accountable, and that when it does, the Jewish state will come out ahead, and the Islamic regime will lose something, or many things which are valuable.
Until now, Iran has also been under the misconception that Israel might be afraid to strike its nuclear program or ballistic missile program. Now it knows that no matter what paper it signs with the Trump administration, if it crosses certain redlines, the question about Israel striking would not be if, but when.
This may be more terrifying for Israel’s citizens for short bursts of time, but Israel is militarily safer than Iran now that it has rewritten the rules.
Hamas and the Gaza strip
With Hamas, the new threat is not really rockets or being invaded, but legitimacy.
Israel’s legitimacy is the lowest it has been since the 1970s and possibly the lowest ever.
Every month that goes by without rebuilding in Gaza does not just hurt Hamas – it also hurts Israel.
Jerusalem needs to get some amount of disarmament from Hamas to move rebuilding past a certain point and to start partial reductions of its Gaza security zone (say from 50-70% to 30%, while Israel probably only needs 15%), but holding out for complete disarmament before rebuilding starts even in areas under Israeli control is harming long-term Israeli interests in the US, in Europe, and with Israel’s Arab allies. That is only among Israel’s allies. Obviously, with Israel’s enemies, it is providing them with additional public relations ammunition for aggressive disinformation campaigns.
If after October 7, 2023, Israel needed to topple Hamas’s military threat and ensure the terror group could not just rearm in the near future, it has by now done that and then some, but allowed its legitimacy to drop off a cliff – and much farther than was necessary.
While some Israeli officials may want to keep the focus only on Iran, and it was critical to set back the Islamic regime’s nuclear and ballistic missile threats, ignoring Gaza is costing Israel far more than many are admitting.
The balance of power with Hezbollah
The balance of power with Hezbollah is also radically different.
The group went from being able to threaten the whole country with apocalyptic destruction by the sheer immensity of 150,000 rockets and missiles, to basically being a Hamas in the north, which can threaten the nearby northern areas, but not much more than that.
Moreover, anytime Hezbollah might provoke Israel, the air force can now exact harsh revenge without worrying about setting off judgment day, because Hezbollah no longer wields a judgment day-level threat.
Whether Israel can get Hezbollah to at least partially disarm – say, moving its rockets much farther away from Israel and keeping long-range precision rockets down under a certain number – in exchange for a withdrawal or partial withdrawal from southern Lebanon remains an open question.
But as with Gaza, the IDF is likely to hold some kind of security zone in Lebanon for the foreseeable future, since it cannot actually fully disarm Hezbollah.
All quiet in Syria
Israel has had quiet from Syria now for over 18 months.
Syrian ruler Ahmed al-Sharaa has an al-Qaeda background and resume and may be a ‘wolf in sheep’s’ clothing, but it is unclear what Israel would lose by a partial reduction of its huge Syrian buffer zone in exchange for Syria also demilitarizing in areas near Israel.
As long as Israel keeps a partial zone, jihadists should not be able to overrun any Israeli villages as they did from Gaza on October 7. And if al-Sharaa has decided not to fight Israel because he has too many internal problems, then a deal leading to a partial withdrawal for partial Syrian demilitarization
Israel has beaten its enemies, at least in relative terms, on every front. But it has failed to nail down any long-term diplomatic achievements, which would allow it to switch from fighting all the time to some of the time.
No one in Israel is talking about going back to the timid pre-October 7 positions, and Israeli military achievements have made Israel safer in the short and medium term. But if Israel does not remember how to do diplomacy before it is too late, eventually, its ignoring that critical arena will lead to the world, via Trump or others, imposing less desirable conditions on the Jewish state, including on its military abilities.
Most Israelis oppose ending Iran war under current terms as faith in Trump sees decline – poll
A new survey by the Israeli Democracy Institute (IDI) found a sharp decline in the share of Jewish Israelis who believe US President Donald Trump views Israel’s security as a central consideration, alongside broad skepticism about a potential US-Iran agreement and continued dissatisfaction with the government’s handling of Hezbollah.
Only 41% of Jewish respondents said Israel’s security is a central consideration for Trump, down from 64% in March and the lowest figure recorded since the question was first asked in November 2024.
Among Arab respondents, however, the share expressing that view rose from 43% to 59%.
Support for the statement declined across the Jewish political spectrum. Among respondents identifying with the Left, 25.5% said Israel’s security is a central consideration for Trump, compared with 34.5% in March. In the Center, the figure fell from 62% to 32%, while among those on the Right it dropped from 70% to 48%.
The survey also examined public expectations regarding a possible agreement between the United States and Iran.
Preventing Iran from developing nuclear weapons
Respondents were asked whether such an agreement would include provisions preventing the continued development of Iranian nuclear weapons, eliminating the ballistic missile threat, and weakening the regime in Tehran.
A majority (56%) said they believe an agreement would prevent further development of Iranian nuclear weapons. Far fewer believed it would address other concerns. Only 32% said they expect an agreement to eliminate Iran’s ballistic missile threat, while 28% believe it would weaken the regime.
The findings reflect a notable shift from March, when public expectations regarding Israel’s military campaign against Iran were considerably more optimistic.
At the time, about two-thirds of respondents believed the operation would eliminate Iran’s nuclear program and ballistic missile capabilities, while more than half thought it could lead to the fall of the regime.
The survey found that 57.5% of Israelis believe ending the conflict with Iran under the currently discussed framework would not serve Israel’s security interests.
Among Jewish respondents, fewer than one-third in any political camp said ending the war would be in Israel’s interest. The figures stood at 30% on the Left, 26.5% in the Center, and 29.5% on the Right.
Respondents also expressed dissatisfaction with Israel’s handling of Hezbollah in the North.
Only 17.5% of the public rated Israel’s performance as good or excellent. Among Jewish respondents, the figure was 19.5%, compared with 8% among Arab respondents.
Only one-quarter of right-wing Jews gave gov’t positive feedback on handling of Hezbollah
Even among right-wing Jewish respondents, only about one-quarter gave the government’s handling of Hezbollah a positive rating. Support was even lower among respondents on the Left and in the Center.
The survey also examined public attitudes toward Netanyahu’s political future.
A total of 61% of respondents said the prime minister should not run in the next Knesset election.
Among Jewish respondents, 57% opposed another Netanyahu candidacy, while 39.5% supported one. Among Arab respondents, 83% said he should not run, compared with 11% who said he should.
A more detailed breakdown among Jewish respondents showed significant divisions on the Right. About two-thirds of those identifying as center-right said Netanyahu should not run again, while 69% of respondents on the hard right supported another candidacy.
As expected, large majorities on the Left, center-left, and in the Center opposed a future Netanyahu run.
Analysis of voting patterns in the 2022 election found that most coalition-party voters support Netanyahu’s continued involvement in politics. However, roughly one-quarter of voters for Likud, the Religious Zionist Party, and United Torah Judaism said he should not run in the next election.
The Israeli Voice Index for May 2026 was prepared by Prof. Tamar Hermann, Dr. Lior Yochhanni, and Yaron Kaplan. The survey was conducted by the Viterbi Center for Public Opinion and Policy Research at the Israeli Democracy Institute between May 31 and June 5. It included 603 Hebrew-speaking respondents and 150 Arabic-speaking respondents, representing the Israeli population aged 18 and older.
Zamir says strike in Iran was preparation for a heavier blow, will return to bombing if needed
During a visit to Northern Command, IDF Chief of Staff Eyal Zamir said that the IDF’s recent airstrike in Iran was a precursor to a “much more significant and heavy” operation in comments to the press on Tuesday.
He emphasized that the IDF is prepared to strike Iran again if it attacks Israel, while continuing to dismantle terror infrastructure in southern Lebanon, including a base in the Buphor area.
Speaking at a command training exercise in northern Israel, he underscored the IDF’s readiness for ongoing operations.
“The IDF maintained and continues to maintain alertness and immediate readiness to return to fighting in Iran,” he said.
“All our defense and attack arrays were alert and ready. We intercepted the threats fired at us and struck Iran quickly and powerfully. We are ready to strike Iran again with another hard and deep blow. Iran’s attempt to set equations and change reality will fail.”
IDF chief Zamir says military will still strike Hezbollah after ceasefire announced, broken
Addressing the northern front, Zamir said the military will continue operations to target Hezbollah and protect communities near the border.
“IDF forces continue to fight and attack along the front defense line in southern Lebanon, destroying terror infrastructure, including significant underground facilities in the Buphor area, which Hezbollah used as a fire base and command center for combat management.”
Concluding his remarks, the chief of staff highlighted the importance of leadership in warfare.
“During a prolonged multi-theater war, command courses serve as a central anchor in strengthening the IDF’s foundations and allow us to maintain the IDF as a professional army with norms, values, and high standards.
“You have experienced unprecedented combat in IDF history and represent the IDF’s significant command echelon. The leadership and professionalism you demonstrate will determine the IDF’s ability to carry out its complex missions with excellence.”
“Ahead of you lies the most important task: to lead soldiers, defeat our enemies in battle, while adhering to operational norms and IDF values.”
US must respond to Iran’s downing of Apache helicopter, Trump warns
US President Donald Trump announced that America “must” respond to Iran’s downing of a US Apache Helicopter over the Strait of Hormuz on Tuesday.
“Last night, the Iranians shot down one of our highly sophisticated Apache Helicopters while patrolling over the Strait of Hormuz,” Trump described in a post on Truth Social. “The United States must, of necessity, respond to this attack.”
Trump emphasized that both pilots who were in the downed helicopter were safe and uninjured.
The helicopter crashed in the early morning hours on Tuesday while on patrol over the waters near the coast of Oman.
According to US Central Command (CENTCOM), the two pilots were rescued within two hours of the crash and are in stable condition.
This is a developing story.
STAT+: J&J spends $1 billion to enter KRAS race for cancer treatments
Johnson & Johnson said Monday it will purchase the startup Firefly Bio for $1 billion in an effort to expand its work in the suddenly buzzy field of KRAS inhibitors.
The deal comes less than two months after Revolution Medicines showed that a KRAS-targeted drug could nearly double survival in metastatic pancreatic cancer, one of the most intractable tumors known to medicine.
KRAS has long been in the sights of drug developers, because mutant forms of the gene and protein are found in around 30% of all tumors. But before Revolution Medicines, companies had struggled to find molecules that could latch on to and shut down a protein. Chemists compared the protein to a “greasy ball.”
STAT+: Pharmalittle: We’re reading about Lilly and Pfizer obesity drug data, Roche and J&J deals, and more
Good morning, everyone, and welcome to another working week. We hope the weekend respite was relaxing and invigorating because that oh-too-familiar routine of meetings, deadlines, and the like has returned with a vengeance. You knew this would happen, yes? To cope, we are relying, as always, on cups of stimulation. Our choice today is laced with chocolate raspberry. Feel free to join us. Remember, no prescription is required. Meanwhile, here are some tidbits to help you along. Best of luck accomplishing your goals today, and of course, do keep in touch. …
Revolution Medicines’ experimental pancreatic cancer drug has been the star of the oncology field in recent weeks, with new data showing the medicine produced unprecedented outcomes for patients, but its next act — this time as a co-lead — was just revealed, STAT points out. Tango Therapeutics said that in an early-stage clinical trial, a combination of its drug vopimetostat and Revolution’s daraxonrasib led to durable responses in the large majority of pancreatic cancer patients who received both medicines. Tango’s strategy of testing the two targeted drugs is notable because combination approaches in pancreatic cancer often include chemotherapy. The recent successful Revolution trial that has upended the specialty tested daraxonrasib versus chemotherapy as a second-line treatment.
Eli Lilly has already established that its next-generation obesity drug can lead to rapid weight loss, but researchers disclosed new data that provide more details on the safety and tolerability of the closely watched therapy, STAT writes. Lilly previously said that in one late-stage study, retatrutide helped people with diabetes lower blood sugar and lose a significant amount of weight, which is notable since those who have diabetes tend to lose less weight on treatment than those who do not. New data showed seven out of the 403 participants who received retatrutide experienced arrhythmias, and three treated participants experienced major cardiovascular complications, compared with none in the placebo group.
Existing home sales beat estimates, what it signals for 2026
Existing home sales beat to the upside today, which is not shocking for those who follow our Housing Market Tracker, as most of the tracker article headlines have shown that housing demand is holding up this year. The question is whether this growth can last amid higher mortgage rates, and why sales haven’t been hit as much by higher rates in 2026 as in previous years. I do have an explanation for this, so we can make sense of what is going on in 2026.
Existing home sales
From NAR: Existing-home sales increased by 3.2% month-over-month and year-over-year, according to the National Association of REALTORS® Existing-Home Sales report. The report provides the real estate ecosystem—including agents, homebuyers and sellers—with data on the level of home sales, price, and inventory.
First, I want to remind people that NAR tends to have more revisions lately, so when we beat to the upside in a big way or miss estimates to the downside in a big way, there will likely be a minor revision to the number in the next report. Even so, it isn’t shocking to see this growth; our weekly tracker data has been mostly positive all year long.
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We had a series of events that slowed things down early in 2026, including Christmas and New Year’s falling on Wednesday, an epic snowstorm, and higher mortgage rates due to the Iran conflict. Still, housing demand has held up ok this year, as our weekly pending home sales data shows. Mind that this data line takes 30-60 days to reflect in the sales data.
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Our total pending sales data has shown year-over-year growth since the end of March. Mind that the epic snowstorm really did a number on home sales in March for the states that got hit.
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Mortgage purchase application data has been showing growth on a year-over-year basis for almost every week this year.
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Most of the growth in purchase applications is due to better mortgage spreads this year, which have kept mortgage rates below 6.64% for most of the year. Why is that important? Because housing data tends to do better when mortgage rates are below 6.64% and head toward 6%.
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Can it last?
First, let’s bring reality to this picture. Existing home sales are working from the lowest bar ever, so, as I always like to remind people, take any growth you see in context with how low existing home sales are today. We are at the lowest levels of sales ever in history relative to civilian labor force growth.
We tend not to have a calendar year of sales below 4 million after 1996, regardless of what’s happening with the economy. So, 2026 data was working from a low bar, as it should have, because affordability has only slightly improved recently.
As long as wages grow faster than home prices and mortgage rates stay near 6%, this sales growth can last as affordability improves over time. It’s a very slow-moving process, but a process that history shows we can grow sales in the future.
If mortgage rates rise above 6.75% and head toward 7% as they have in the past few years, sales tend to fade, and this conflict isn’t helping. Again, however, better mortgage spreads this year have prevented mortgage rates from being above 7%. If this were 2023, 2024 or even 2025, mortgage rates today would be between 7.20%-7.75%.
Conclusion
Existing home sales beat the estimate today. We have year-over-year growth in sales, and even the first-time homebuyer percentage grew from 30% to 35% — one of the highest first-time homebuyer percentages in the past 10 years. How is that possible? I call it the denominator factor.
When mortgage demand is growing, it tends to increase among first-time homebuyers, since they finance 93% or more of their home purchases. As we have seen mortgage demand grow a little, we have seen a slight increase in first-time homebuyers this month. Try not to make too much of this — I know it shocked a lot of people today but it is more of a denominator factor than real growth.
I’ll be keeping an eye out on weekly data to see if higher rates slow things down, but for now, housing has done ok with higher rates in 2026.
MetroList, Lundy launch AI assistant for real estate professionals
MetroList, northern California’s largest multiple listing service (MLS), has partnered with Lundy, Inc. to introduce nora, an AI assistant designed to help real estate professionals manage daily tasks across multiple business platforms.
Through natural language interactions, agents can manage emails and calendars, search property and market data, answer MLS compliance questions and more.
The platform is also designed to learn user preferences and workflows over time, allowing it to provide increasingly personalized support while handling tasks in the background.
“MetroList has embraced several products from Lundy because we are committed to delivering practical innovation that helps our subscribers succeed,” said Dave Howe, president and CEO of MetroList. “nora represents the next step forward providing agents with a powerful new way to save time, reduce administrative work and stay focused on the needs of their clients.”
By combining MLS-connected intelligence with workflow automation and system integrations, nora is intended to help agents spend less time on administrative tasks, the company said.
“nora was built to give real estate professionals a true AI assistant that can help with the work they do every day,” said Justin Lundy, CEO of Lundy, Inc. “This is another collaboration with MetroList to provide an AI assistant that understands which tasks agents need to succeed.”
The platform operates on a wallet-based payment system powered by Stripe. To encourage adoption, MetroList is providing subscribers with an initial balance that allows them to test the platform and evaluate how it fits into their business operations before deciding whether to purchase additional services.
MetroList Services serves real estate brokers and agents across 15 northern California counties.
This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication.
IBHS adds neighborhood and multifamily wildfire standards for Western builders
The Insurance Institute for Business & Home Safety (IBHS) has expanded its Wildfire Prepared program with new standards for neighborhoods and multifamily buildings and updated requirements for single-family homes, creating a more complete design roadmap for builders in fire-prone communities.
The nonprofit research organization announced the changes in an IBHS release, framing them as the final major pieces of a program aimed at helping the housing industry reduce wildfire losses through design, materials and site planning, rather than relying solely on emergency response.
For homebuilders working in the West and other wildfire-exposed regions, the expanded standards offer a clearer set of design and construction practices that can be applied at the lot, building and community scale. They are intended to complement model codes and may be adopted voluntarily by developers, builders, local governments and HOAs.
What changed in the Wildfire Prepared program
According to IBHS, the program now includes:
- Neighborhood standards that address how homes are sited and spaced, street layout, vegetation management in common areas and edge conditions at the wildland-urban interface.
- Multifamily standards focused on attached and stacked housing types, where shared walls, decks and vents can increase pathways for ember intrusion and structure-to-structure fire spread.
- Updated home requirements for single-family detached homes, refining earlier guidance on roofs, vents, decks, gutters, siding and the immediate 0–5 foot zone around structures.
The neighborhood and multifamily components are meant to “round out” earlier single-family guidance, creating a more integrated framework so that resilience is not undermined by adjacent properties or common spaces, IBHS said.
Why this matters for builders and developers
Wildfire risk has become a core land-use and underwriting issue in much of the West. In California and other high-risk states, insurers have pulled back in some markets, regulators are reassessing property-insurance rules and local governments are tightening building and defensible-space requirements.
For production and custom builders, the IBHS framework may serve several functions:
- Design baseline in high-risk markets: A structured checklist of wildfire-resistant assemblies and site features that can be integrated into standard plans and community design guidelines.
- Risk conversations with capital and insurers: A third-party, research-based framework that can be cited in discussions with insurers, equity partners and lenders about long-term property risk and insurability.
- Differentiation in competitive subdivisions: A way to formalize “fire-wise” or resilience branding through specific standards on lot layout, materials and landscape, rather than general marketing language.
IBHS bases its recommendations on testing at its research facility, where it studies how embers, direct flame contact and radiant heat cause home ignition. The updated program continues to emphasize the vulnerability of the first five feet around a building and details how to treat that zone with noncombustible materials and controlled vegetation.
Key elements for neighborhood and multifamily design
While the press materials do not read like a prescriptive code, they highlight several themes that can be translated into development decisions:
- Building separation and orientation: Guidance on spacing, staggering and orientation to reduce structure-to-structure ignition potential.
- Common-area fuels: Treatment of open space, slopes, greenbelts and recreational areas so they do not become conduits for fire approaching homes.
- Edge conditions: Specific attention to lots that back up to wildland fuels, including fencing, outbuildings and landscaping at the perimeter.
- Multifamily vulnerability points: Details for attached garages, shared attics, exterior stairs and stacked decks/balconies that can otherwise allow fire to move quickly through a building.
For multifamily developers, incorporating these details at the entitlement and early design stages can be less costly than retrofitting later and may support more stable operating costs if insurance markets continue to tighten in wildfire corridors.
How builders can use the IBHS standards
Unlike building codes, participation in the Wildfire Prepared program is voluntary. IBHS positions it as a resource that can be written into:
- Developer design manuals and pattern books
- Architect and engineer scopes of work
- HOA CC&Rs and landscape guidelines
- Local incentive programs for resilient construction
Embedding wildfire-resilient details at the community planning level can also reduce friction with local fire authorities during approvals, particularly in jurisdictions where wildfire evacuation and access are already political flashpoints.
For builders, the practical question is cost and constructability. IBHS materials note that many wildfire-resistant features involve material substitutions (such as ember-resistant vents, Class A roofs and noncombustible surfaces near the home) and site-planning decisions that can be incorporated into standard workflows, rather than bespoke custom solutions.
Regulatory and market backdrop
The expanded Wildfire Prepared program lands amid a broader recalibration of fire risk in the housing market:
- Western states continue to rewrite codes and defensible-space rules as fire seasons lengthen.
- Insurers in California, Colorado and other states have either tightened underwriting or requested rate increases tied in part to wildfire exposure.
- Investors and lenders are asking more pointed questions about physical climate risks to housing assets.
In that context, standardized, research-backed design guidance can help homebuilders and multifamily developers respond consistently across projects, rather than on a jurisdiction-by-jurisdiction basis.
Senate Democrats introduce bill to automatically fund CFPB
All 11 Democrats on the Senate Banking Committee have introduced legislation that would
“automatically and fully fund” the Consumer Financial Protection Bureau, seeking to shield the agency from future funding cuts and political interference.
The bill, introduced June 4 and led by Ranking Member Sen. Elizabeth Warren, would require mandatory transfers to the CFPB equal to at least 12% of the Federal Reserve’s total operating expenses. The Federal Reserve is typically the agency’s primary source of funding.
Funding would continue up to the amount deemed reasonably necessary for the agency to carry out its responsibilities under federal consumer financial laws.
“The Trump Administration launched an assault on the Consumer Financial Protection Bureau, trying to drain it of its resources so it could no longer stop big banks and giant corporations from scamming Americans out of their money,” Warren said in a statement. “Democrats are united in fully funding the CFPB when we take back Congress.”
According to Warren and her colleagues, the CFPB has returned more than $21 billion to consumers through enforcement actions and other remedies since its creation following the 2008 financial crisis.
The legislation is backed by several consumer advocacy groups, including the National Consumer Law Center, Consumer Federation of America, the National Community Reinvestment Coalition and more.
Alys Cohen, director of federal housing advocacy and acting co-director of federal advocacy at the National Consumer Law Center, said restoring CFPB funding is critical as consumers face growing threats.
“The cost of living has skyrocketed, and in the face of growing risks from predatory payday lending apps and crypto scams, this Administration is actively gutting the Consumer Financial Protection Bureau,” Cohen said in a statement.
Adam Rust, director of financial services at the Consumer Federation of America, said the legislation would establish a funding floor and make transfers mandatory, ensuring the agency can continue pursuing enforcement actions against financial firms.
“This bill ensures that invented legal theories cannot sideline the CFPB from protecting people from financial predators. The CFPB’s record speaks for itself. Every dollar the Fed has sent to the CFPB has been returned many times over to consumers through direct remedies and avoided harms,” Rust said.
The backstory
The proposal comes as Democrats accuse President Donald Trump and his administration of weakening the consumer watchdog by restricting its resources. In November of last year, the administration declared that the agency’s funding is unlawful in a court filing and that the agency cannot legally request funds from the Federal Reserve under the Dodd-Frank Act.
Following that filing, a coalition of consumer advocacy groups sued Dec. 5 to block what it described as an effort by acting CFPB Director and White House budget chief Russell Vought to effectively dismantle the agency by cutting off its funding. The coalition’s suit claimed that since February 2025, Vought has not sought new funding for the CFPB, instead relying on reserve funds, which were expected to be depleted in early 2026.
In March, a federal judge ruled that the agency must continue to get its funding from the Federal Reserve as the law requires, ultimately squashing Vought’s public intentions to shut the agency down that he vocalized in October 2025.
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Solana
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Chick-fil-A expands its ‘ghost kitchen’ model with new delivery-only store in Florida
The ultimate test of fast-food physics is arriving in Miami.
Chick-fil-A is expanding its footprint in the Sunshine State with a new delivery-only “ghost kitchen” in Miami’s Wynwood neighborhood, marking a strategic move to bypass the real estate constraints of traditional brick-and-mortar restaurants.
Operating within the CloudKitchens network, the location is the privately held fast-food giant’s first delivery-only kitchen in Florida and just its sixth nationwide, allowing the company to maximize kitchen capacity and meet demand without the overhead costs of a traditional dining room.
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The restaurant is located at 1900 NE Miami Court, and will fulfill orders primarily through third-party delivery platforms, according to a Chick-fil-A press release. It is open Monday through Saturday from 10:30 a.m. to midnight – two hours later than Chick-fil-A’s typical dine-in or drive-thru closing time.
The new Wynwood location is expected to create approximately 30 local jobs, offering hands-on training, mentoring and competitive benefits.
“We know how important fast and reliable delivery is to Wynwood, and we want to meet the community where they are while keeping our signature hospitality,” owner-operator Thomas Overby said in the release.
“Being born and raised in Miami, serving this community is very special to me. Our new delivery kitchen location gives us the opportunity to serve the Wynwood community in a way that works best for them and gives me the privilege to deepen my connection with my hometown,” he continued.
While traditional restaurants face constraints including seating capacity, kitchen square footage and limited hours, a delivery-only kitchen allows the brand to serve a larger customer base and operate at full capacity without paying for prime retail real estate or dining room upkeep.
Partnering with established kitchen infrastructure networks like CloudKitchens allows the company to rapidly deploy its delivery framework into high-density urban areas such as Miami.
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Unlike its publicly traded competitors, Chick-fil-A is a privately held company with no public shareholders and reigns as America’s third-largest quick service restaurant. The slow rollout of its “ghost kitchen” model mirrors similar smaller-scale moves Chick-fil-A has made in recent years, like opening five stores in its first expansion into England and just one in Singapore – a city with more than 6 million people.
Chick-fil-A’s other five delivery-only locations operate in College Park, Maryland; Nashville, Tennessee; Louisville, Kentucky; Boston, Massachusetts; and Northern California.
A Wave of Giant AI Stock Sales Is About to Test Wall Street’s Nerve
Wall Street is heading into a test unlike anything it has faced before.
Three of the world’s most valuable private companies are preparing to sell shares to the public at nearly the same time, creating a historic stress test for investor appetite toward artificial intelligence, advanced technology, and trillion-dollar valuations.
The lineup is remarkable.
SpaceX is preparing to debut Friday at a valuation of approximately $1.77 trillion. OpenAI, creator of ChatGPT, confirmed Monday that it has confidentially filed for a public offering. Rival AI company Anthropic reportedly filed its own paperwork just days earlier.
Together, the companies represent several trillion dollars of private-market value preparing to transition into public markets.
The timing could hardly be more challenging.
Only days ago, the technology-heavy Nasdaq Composite suffered its sharpest decline since early 2025 as investors dumped semiconductor and AI-related shares amid concerns that valuations had become stretched.
The selloff was swift.
The Nasdaq fell more than 4%, while hundreds of billions of dollars in market value disappeared from AI-linked stocks.
Then came Monday’s rebound.
Chip stocks recovered sharply, helping the Nasdaq finish higher and reminding investors that enthusiasm surrounding artificial intelligence remains powerful despite growing concerns about valuations.
That volatility is exactly what makes the upcoming offerings so important.
When a company goes public, investors must find new capital to purchase the shares being sold. With SpaceX alone seeking roughly $75 billion, followed by OpenAI and Anthropic, Wall Street is being asked to absorb an extraordinary amount of new stock in a relatively short period.
If demand remains strong, all three offerings could succeed.
If sentiment weakens, later offerings may face pressure to reduce valuations or raise less capital than expected.
The order matters.
SpaceX is first.
Its debut will provide the market’s first real test of investor appetite for the next generation of AI-era mega-cap companies.
The companies themselves are also in very different financial positions.
SpaceX generated significant revenue but still lost billions of dollars last year.
OpenAI remains one of the fastest-growing companies in history, but it continues spending enormous sums on computing infrastructure and AI development.
Anthropic faces similar questions regarding growth, profitability, and long-term economics.
Investors must decide how much they are willing to pay today for profits that may not arrive until years into the future.
That calculation becomes even more complicated as economic uncertainty grows.
A separate survey released Monday by the Federal Reserve Bank of New York found that Americans are increasingly pessimistic about their personal finances, suggesting consumers may become more cautious in the months ahead.
For investors, the coming wave of offerings represents something larger than individual companies.
The public markets are about to answer a fundamental question:
After years of private funding rounds, soaring valuations, and excitement surrounding artificial intelligence, how much are investors actually willing to pay?
Friday’s SpaceX debut will provide the first clue.
The larger answer will unfold over the months ahead as Wall Street decides which companies deserve their lofty valuations—and which may have benefited from arriving at exactly the right moment.
JBizNews Desk
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