The U.S. stock market split in two directions Wednesday as a sharp drop in oil prices and easing tensions with Iran lifted the Dow Jones Industrial Average even while technology stocks dragged the broader market lower ahead of a closely watched earnings report from memory-chip giant Micron Technology.

The day’s tone was set by energy markets. Oil prices fell sharply after President Donald Trump said Iran had informed him that commercial vessels would be allowed to pass freely through the Strait of Hormuz without tolls or additional charges. The comments reinforced growing optimism that the months-long conflict that has rattled global energy markets may finally be easing.

By the closing bell, the Dow Jones Industrial Average gained 182.06 points, or 0.35%, to finish at 51,848.90. The S&P 500 slipped 0.10% to 7,358.22, while the technology-heavy Nasdaq Composite declined 0.43% to 25,476.64.

The divergence reflected a market wrestling with two competing narratives. On one side, investors welcomed lower energy prices and easing geopolitical risks. On the other, traders continued reducing exposure to some of the year’s biggest technology winners ahead of the next round of corporate earnings.

Rick Gardner, chief investment officer at RGA Investments, described the recent weakness in technology shares as a healthy correction rather than a broader warning sign.

“Many of these stocks simply ran too far, too fast,” Gardner said, noting that investors appear to be recalibrating expectations before earnings season begins in earnest next month.

The Dow also received a boost from index-related news. S&P Global announced that Alphabet, Google’s parent company, will join the 30-stock average next week, replacing Verizon Communications. The move further increases the technology weighting within one of Wall Street’s most closely followed indexes and reflects the growing dominance of large-cap technology companies across the U.S. economy.

Market Movers

Wednesday’s biggest gains came from a mix of corporate announcements, earnings-driven trades, and renewed interest from retail investors.

Wendy’s surged approximately 23.7% after naming former Potbelly executive Steven Cirulis as chief financial officer and chief strategy officer. The announcement coincided with increased buying activity from retail traders targeting heavily shorted stocks.

Solar installer Sunrun climbed roughly 22%, while building-products supplier Builders FirstSource advanced about 9.7%.

On the downside, Hertz Global Holdings plunged 27.3%, extending a volatile stretch for the rental-car operator as investors digested recent financing moves and ongoing concerns about used-vehicle values.

AI chipmaker Cerebras Systems, which recently entered public markets, fell approximately 16.1%, while convenience-store operator Casey’s General Stores declined 6.8%.

Meanwhile, newly public SpaceX slipped 1.61% to close at $153.60, continuing the volatile trading pattern that has followed its record-setting market debut earlier this month.

Technology stocks remained under pressure throughout the session.

The semiconductor sector, one of the market’s strongest performers this year, has experienced a notable pullback. The VanEck Semiconductor ETF, widely viewed as a benchmark for chip stocks, has declined more than 5% over the past five trading sessions.

Investors are increasingly focused on Micron Technology, whose earnings report after the closing bell is widely viewed as one of the most important technology events of the week.

Micron recently reached an all-time high and has become a major beneficiary of the artificial-intelligence infrastructure boom. The company’s results are expected to provide fresh insight into demand for memory chips, one of the most critical components supporting AI systems.

Jay Woods, chief market strategist at Freedom Capital Markets, cautioned that expectations have become elevated after the stock’s remarkable run.

“When a stock rises this far, this fast, expectations become very difficult to satisfy,” Woods said.

Commodities and Volatility

Oil markets delivered the biggest macroeconomic development of the day.

Brent crude, the international benchmark, fell 4.33% to settle at $73.74 per barrel, while West Texas Intermediate dropped 3.92% to $70.34. Both benchmarks traded at their lowest levels since before the U.S.-Iran conflict escalated earlier this year.

For consumers and businesses, lower oil prices could provide meaningful relief.

Cheaper crude often translates into lower gasoline prices, reduced transportation costs, and less inflationary pressure across the economy. Industries ranging from manufacturing to logistics stand to benefit if energy prices continue moving lower.

Treasury markets also reflected the calmer geopolitical environment.

The yield on the 10-year Treasury note fell back below 4.5%, easing pressure on borrowing costs that have weighed on housing, commercial real estate, and corporate financing activity.

Gold moved lower as well.

August gold futures dipped below $4,000 per ounce for the first time in months, trading near $3,987, as investors reduced safe-haven positions amid signs of improving stability in global energy markets.

Politics remained part of the market conversation.

Appearing on CNBC, Senator Elizabeth Warren argued that Federal Reserve Chair Kevin Warsh faces a difficult path on interest rates as inflation concerns, economic growth, and political pressure continue colliding.

The Federal Reserve last week maintained its benchmark interest-rate range at 3.50% to 3.75%, signaling continued caution while offering little clarity regarding the timing of future rate cuts.

All eyes now shift to Micron.

A strong earnings report could reignite enthusiasm across the semiconductor sector and provide fresh momentum for technology stocks. A disappointing result, however, could deepen the recent pullback and raise new questions about valuations throughout the AI-driven technology rally.

For investors, Wednesday’s mixed finish captured the market’s current mood perfectly: relief over falling oil prices, optimism that geopolitical risks may be easing, and growing caution toward technology stocks that have already delivered extraordinary gains.

JBizNews Desk | New York
© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

AARP, the nation’s largest nonprofit organization dedicated to serving older Americans, on Wednesday announced more than $8 million in grants across the country. The funds aim to make communities more livable, with specific targets toward improving housing, public spaces, transportation and digital connectivity.

As part of the 10th anniversary of the nonprofit’s Community Challenge grant program, AARP awarded $8.3 million in funds across 750 projects in all 50 states, as well as Washington, D.C., Puerto Rico and the U.S. Virgin Islands. About half of these projects are in rural communities and the record level of funding came amid record demand as AARP received 5,100 applications this year.

The funds also come at a time when the U.S. population is aging rapidly and seniors are overwhelmingly expressing a desire to age in place in their current homes.

Reverse mortgage professionals may be uniquely positioned to serve these needs through home equity-based financing solutions as clients seek to improve their homes with technology and live in neighborhoods with helpful amenities. Baby boomers also represent the largest shares of today’s home buyers and sellers, and they may be able to use reverse for purchase programs to remain in or relocate to senior-friendly communities.

“America is aging, and most older adults want to stay in the communities they know and love. There are a lot of things that localities can do to support residents of all ages,” Nancy LeaMond, AARP’s executive vice president and chief advocacy and engagement officer, said in a statement.

“AARP Community Challenge grants help transform local ideas into real improvements — from safer sidewalks and improved transportation options to public spaces that bring neighbors together and enhance community connections. As we celebrate the program’s 10th year, we’re proud to double our investment so even more communities can become great places to live for people at all stages of life.”

At a virtual meeting with reporters on Wednesday, AARP officials and two mayors whose cities have benefited from the grant funding spoke about the importance of making aging in place a national priority.

AARP noted that by 2034, Americans 65 and older are expected to outnumber children under 18 for the first time. The Community Challenge grants aim to create practical infrastructure — such as housing modifications, transportation and digital access — for older adults to remain independent.

The grants are also designed to move quickly as projects typically come to fruition in months, not years. The group has set a goal to improve the lives of 25 million seniors and support 100,000 community projects by 2028.

“Our health and well-being is shaped by whether or not we can safely cross the street, whether our home meets our needs as we age, whether we feel connected to the people and places around us,” AARP CEO Myechia Minter-Jordan said.

Mayors speak to local project impact

Mayor Paul TenHaken of Sioux Falls, South Dakota, said that his city previously benefited from a Community Challenge grant that funded pedestrian safety efforts — including repainted crosswalks and traffic-calming measures.

TenHaken said the changes reduced traffic speeds in the impacted areas by about 20%, leading Sioux Falls to make a related pilot program permanent. Sioux Falls was the first city in South Dakota to join the AARP Network of Age-Friendly States and Communities, which the group describes as an effort to connect elected officials, local leaders and organizations as they assess needs, plan and implement projects and evaluate their effectiveness.

“Creating livable, age-friendly cities … isn’t just a one-time thing where you spike the football, and you say, ‘Hey, we did that, all right, we’re good, move on.’ It’s an ongoing commitment,” TenHaken said.

“These Community Challenge grants, they really just provide a starting point for conversation about how we continue to enhance livability and provide community-based projects, and about the important role that we as policymakers in government play in establishing this sort of thing.”

Mayor Tim Keller of Albuquerque, New Mexico, said that his city has been part of the AARP Network since 2017. Albuquerque was a prior recipient of grants that, in part, paid to rehabilitate a number of homes with basic senior-centric safety features like wheelchair ramps, grab bars and handrails.

Keller said the funding has helped to stabilize the city’s aging housing stock and has extended the ability of some seniors to age in place by another five to 10 years. Albuquerque is also building new senior housing at a rapid rate and has made public transit free to all residents.

“This also helps us with our broader housing issue, because we don’t have empty houses turning over in the middle of neighborhoods, so it helps stabilize some of our older neighborhoods as well,” he said. “We don’t want people to have to leave behind their neighborhood, their independence or their sense of purpose or their family, just because of their age.”

Housing design grant recipients

Mike Watson, AARP’s director of livable communities, said that the grants are primarily funded through the nonprofit’s social mission budget. The remainder comes from corporate partnerships with Toyota, which funds pedestrian safety projects, and Microsoft, which funds digital connectivity projects.

One of the grant categories supports housing design competitions, with AARP allocating funds to 13 cities in 2026. Examples include:

  • Tucson, Arizona: The city’s planning and development services department is leading a design competition that seeks to increase access to middle-housing options that are smaller and more appropriate for seniors.
  • Fort Collins, Colorado: Officials at Colorado State University are working to produce age-friendly designs for accessory dwelling units (ADUs).
  • Cedar Rapids, Iowa: City officials are embarking upon an ADU project that will focus on universal design and education, with a specific emphasis on aging-in-place support.
  • Henderson, Nevada: The Las Vegas suburb is promotion a design to create mixed-use, transit-oriented housing concepts that would be built on city-owned land.
  • Rhode Island: The state’s Executive Office of Housing will launch a statewide ADU design competition for preapproved housing plans as it seeks to reduce costs and offer more choices for senior residents.

“A lot of what is needed and what we see in this grant program are some of these really basic core necessities, and I think providers that are applying for grants and receiving them are also wrapping in some of those smart home devices,” Watson said, referring specifically to tools that detect falls and monitor the overall health of seniors.

“We wanted to build something that would meet immediate needs … not multiyear planning projects, but quick, on-the-ground, visible demonstrations of livability. They’re going to help communities build momentum and jumpstart change.”

This post was originally published on here

For a decade, the housing industry has waited for a “silver tsunami,” a wave of homes released as older owners downsize or pass away. The wave has not arrived on schedule, and recent data suggests it may never break the way it was predicted. But the homes that trickle on to the market have something in common. They tend to arrive at the market in poor condition to sell and full of a lifetime of belongings. Estate sales have always played a role in clearing those homes.

What is changing is the scale: as the owner base ages, that work is becoming a routine part of the listing process rather than an occasional one, and it deserves to be planned for accordingly.

The stats are real

The demographic weight here is real, even if the inventory predictions were overstated. Adults 65 and older now own roughly a third of all owner-occupied homes in the United States, and homeowners 55 and older own more than half, according to analysis of Census Bureau data by the National Association of Home Builders.

Baby Boomers alone hold an estimated $17 trillion or more in home equity, the largest share of any generation, based on figures reported by Realtor.com and LendingTree. Boomers were also the largest group of home sellers last year, accounting for 53% of all sellers, according to the National Association of Realtors. A meaningful share of listings, in other words, already originates with an older owner, and that share will grow for years.

The friction is in the condition of the homes

More than half of the homes owned by Boomers were built in 1980 or earlier, and many have not been meaningfully updated since, according to housing market analyses of Boomer-owned inventory. When one of these properties reaches the market through an estate or a senior transition, it usually cannot simply be listed. It has to be emptied, sorted and prepared first, and that work often falls to an adult child who lives in another state, holds a job, and is managing the process during a period of grief or crisis.

This is where transactions stall. For a real estate professional, that delay is lost momentum on a listing. For the family, it is weeks of stress with no clear sequence. The property may carry real equity, but that equity sits frozen behind a logistical problem no one has owned.

An estate sale, run well, is one of the tools that unfreezes it

Clearing a home of decades of furniture, collections and household goods is not a side errand to the sale. It is a precondition for it. Increasingly, real estate agents are working alongside estate sale professionals, probate attorneys, and senior living advisors on the same transactions, because preparing an inherited or downsized home is now a multidisciplinary job, not a weekend event advertised with a sign on a corner.

Here is the obstacle. The estate sale industry is not built to plug into that process smoothly. It remains highly fragmented, with thousands of small operators, uneven standards, limited online presence, and, for families, almost no reliable way to tell a professional company from an unvetted one. A real estate agent who wants to refer a client to a trustworthy estate sale provider often has no better tool than a web search and a phone call. That is a weak link in a transaction that increasingly depends on it.

That gap is solvable, and the fixes are practical rather than aspirational. Three are worth naming.

First, treat estate clearing as a scheduled phase of the listing, not an afterthought. When an agent identifies early that a property needs estate liquidation, the clearing timeline can be planned alongside inspection, repairs and staging, rather than discovered after the listing agreement is signed. This is a sequencing change agents can make on their own, today.

Second, build standing referral relationships between real estate professionals and vetted estate sale companies, rather than relying on improvised searches. Knowing in advance which providers carry verifiable credentials, background-checked staff, and a consistent track record turns a risky handoff into a dependable one.

Third, the estate sale industry has to meet this demand with the professionalism the rest of the housing transaction already operates under: clear online presence, transparent pricing, verifiable standards and digital tools that let families and agents evaluate providers the way they evaluate everything else.

The silver tsunami may turn out to be a gentle, decades-long wave. But every home in it still has to be cleared before it can be sold. Estate sales have always done that work. The industry can keep treating them as a service off to the side, or it can plan for them as a standard part of the listing pipeline and build the standards and connections that make that pipeline work. The professionals who plan for it will be ready. The ones who do not will keep losing time in the gap.

About the Author: Simone Kelly is the founder and CEO of Estate Sales Near Me (ESNM), a digital marketplace connecting consumers with estate sale and online auction professionals. She has worked in the estate sale industry for more than two decades, including founding and franchising an estate sale company, and focuses on housing-transition services tied to downsizing, probate, and inherited property.

Simone Kelly is the founder & CEO of Estate Sales Near Me.

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

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

This post was originally published on here

The Federal Housing Finance Agency (FHFA) has proposed replacing its existing Duty to Serve (DTS) regulation with an outcome-based framework that would change how Fannie Mae and Freddie Mac support manufactured housing, affordable housing preservation and rural housing.

The proposal, released in a notice of proposed rulemaking on Wednesday, would emphasize chattel loans, broaden how Low-Income Housing Tax Credit (LIHTC) activities are treated and expand “high-needs” coverage, FHFA said. Public comments are due July 24. Any final rule is expected to take effect by Jan. 1, 2028, but could be extended.

FHFA said the current regulation, in place since 2016, has produced a “compliance-centric” approach focused on detailed benchmarks rather than market impact.

“The proposed rule aims to encourage and enable the Enterprises to better serve the needs of very low-, low-, and moderate-income families in the underserved markets through greater innovation and with less administrative burden,” the regulator stated.

Manufactured housing creation

The proposal would place new emphasis on chattel loans, which FHFA estimates account for 70% to 80% of new manufactured homes. These loans are often used when borrowers do not own the underlying land, including in land-lease communities.

Chattel borrowers face a denial rate of 65.6%, compared with 8.8% for site-built home loans, according to FHFA. Approved chattel borrowers pay an average interest rate of 9.24%, versus 6.63% for traditional mortgages. FHFA characterized this “financing gap” as offsetting the lower purchase price of manufactured homes.

“The chattel lending market remains underdeveloped, with limited liquidity, the absence of a securitization infrastructure, and a lack of robust performance data,” the FHFA stated.

Despite chattel lending being designated as an “extra credit” activity, neither GSE has purchased chattel loans for Duty to Serve purposes. But under the proposed framework, chattel lending would no longer be an optional bonus category, and Fannie and Freddie would be expected to develop “robust, responsible” initiatives.

Affordable housing preservation

The proposed rule also responds to growing pressure on affordable rental stock. Between 2014 and 2024, the U.S. lost a net 2.5 million rental units with rents below $600 per month, according to FHFA.

More than 500,000 LIHTC properties are scheduled to exit their compliance periods between 2025 and 2038, increasing the risk that restricted units will convert to market-rate housing, the agency estimates.

Under the new framework, the GSEs could receive DTS credit for subordinate liens on multifamily properties for any purpose, removing the existing restriction that limited such liens to energy or water efficiency improvements.

LIHTC equity in all underserved markets could be eligible for DTS credit, not just in rural areas, FHFA said. The agency also proposed allowing permanent construction take-out loans to be used across all DTS evaluation areas.

Rural housing and Indian areas

FHFA noted that home prices in rural areas rose more than 35% from March 2020 to March 2023, and that the annual income needed to afford a median-priced rural home has more than doubled since 2019.

The agency cited Freddie Mac’s HeritageOne product, which is designed to provide conventional financing in Indian areas, as an example of how current rules can constrain GSE activity.

Because widespread poverty depresses area median income in many Indian areas, borrowers who are clearly low income on a national or state basis may not qualify as “low income” under existing DTS definitions, FHFA said.

To address this, FHFA proposes to revise income calculations so lenders can use the highest of county, state or national median income figures. The agency also proposes to explicitly expand the definition of “high-needs rural regions” to include Indian areas, reversing its 2016 position that such a change would be “over-inclusive.”

This post was originally published on here

Oil prices tumbled again, with U.S. crude falling below $70 a barrel and approaching levels last seen before the U.S.-Iran conflict began, as a growing number of tankers resumed passage through the Strait of Hormuz and diplomatic efforts continued reducing fears of a prolonged supply disruption.

The decline marks a dramatic reversal from the panic that gripped energy markets earlier in the conflict.

Brent crude, the global benchmark, slipped below $74 per barrel, while West Texas Intermediate dropped beneath $70. Both benchmarks now sit far below the wartime highs reached when traders feared a lengthy shutdown of Middle Eastern energy exports.

The Strait of Hormuz remains the world’s most important oil chokepoint.

Under normal conditions, roughly one-quarter of global seaborne crude oil passes through the narrow waterway connecting the Persian Gulf to international markets. Any disruption immediately affects energy prices worldwide.

At the height of the crisis, tanker traffic slowed dramatically as concerns over security risks mounted. Hundreds of vessels faced delays, shipping costs surged, and traders feared a prolonged interruption to global energy supplies.

Those fears are now easing.

Shipping activity has steadily improved, and exporters throughout the Gulf region are restoring operations closer to normal levels. Energy traders increasingly believe the worst-case scenarios that once dominated headlines are becoming less likely.

Diplomatic developments have contributed significantly to the recovery.

Negotiations involving regional governments and international mediators have helped reduce immediate tensions, while agreements designed to ensure safe maritime transit have encouraged shipping companies to resume operations through the strait.

The impact extends far beyond oil markets.

Lower crude prices generally translate into cheaper gasoline, lower transportation costs, reduced pressure on manufacturers, and potentially slower inflation. Businesses throughout the economy benefit when energy costs decline.

Consumers stand to gain as well.

Fuel prices often respond quickly to major moves in crude oil markets, and sustained declines could provide relief at the pump after months of elevated costs.

Not everyone believes the risk has disappeared.

Several analysts caution that current supply conditions are being supported in part by inventory drawdowns and strategic stockpiles rather than a complete recovery in production. Once those inventories are depleted, markets could again face tighter conditions.

Others point to continuing geopolitical risks throughout the region.

Tensions involving Iran, Israel, and various regional actors remain unresolved, and any renewed disruption could quickly reverse recent gains.

Even so, markets appear increasingly convinced that the immediate threat of a major supply shock has diminished.

That shift in sentiment has been enough to send oil sharply lower and restore a measure of stability to global energy markets.

For households, businesses, and investors, the message is straightforward.

After months of uncertainty, energy markets are beginning to price in a future that looks far less disruptive than many once feared.

JBizNews Desk | New York
© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

The Supreme Court on Tuesday issued a ruling that limits the use of a federal law to hold U.S. corporations liable for human rights abuses abroad when it dismissed a lawsuit that accused Cisco Systems of aiding the Chinese government’s religious persecution of the Falun Gong movement.

The 6-3 ruling reversed a lower court’s decision that had allowed a lawsuit filed by Falun Gong members in 2011 under the Alien Tort Statute of 1789. 

The suit alleged that Cisco knowingly developed technology that enabled China’s government to surveil and persecute Falun Gong members.

The Alien Tort Statute had been effectively dormant for nearly 200 years before lawyers started to use it in the 1980s to bring international human rights cases, and the Cisco suit questioned whether it can be used to hold corporations liable if they “aid and abet” human rights abuses through “accomplice liability.”

TRUMP ADMINISTRATION PLANS NEW TARIFFS ON 60 TRADING PARTNERS OVER FORCED LABOR IMPORT ENFORCEMENT FAILURES

The Falun Gong movement was founded in China in 1992, and was banned by the Chinese Communist Party (CCP) in 1999, after thousands of the group’s members appeared at the central leadership compound in Beijing to stage a silent protest. The group has called for its members to denounce the CCP and has been heavily critical of its leadership in China.

Justice Amy Coney Barrett authored the majority opinion which supported Cisco’s argument that the law doesn’t support holding companies liable for aiding and abetting human rights abuses.

“Courts cannot create new rights of action to remedy violations of international law, so there is necessarily no liability for aiding and abetting such violations,” Barrett wrote as the ruling dismissed the claims against Cisco.

The Supreme Court’s ruling split the justices along ideological lines, with the six conservative justices in the majority and the three liberals dissenting.

COMPUTER WARS HEAT UP AS CHINESE SUPERCOMPUTER TOPS ALL US MACHINES IN SPEED FOR FIRST TIME SINCE 2017

Paul Hoffman, a lawyer for the plaintiffs, said they were disappointed with the ruling and called for Congress to take action and create a law “so that victims of serious human rights violations at the hands of U.S. corporations may hold those corporations accountable in U.S. courts under the Alien Tort Statute.”

Additionally, the Supreme Court issued an 8-1 decision that a similar law known as the Torture Victim Protection Act of 1991 didn’t permit a group of plaintiffs to move forward with a lawsuit that sought to hold two Cisco executives liable for allegedly aiding and abetting torture.

GORDON CHANG: US SHOULD EXPAND SANCTIONS ON CHINA-LINKED NETWORKS TO HIT IRAN OIL REVENUE

Plaintiffs accused Cisco of knowingly designing and implementing the “Golden Shield,” which is an internet surveillance system used by the CCP to target dissidents, and they say China used the system to track and torture Falun Gong members.

FOX Business reached out to Cisco for comment. The company has called the allegations unfounded and offensive.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The decision by the Ninth Circuit Court of Appeals that was reversed by the Supreme Court had held the plaintiffs demonstrated plausible claims that Cisco provided technical assistance to the CCP and permitted it to proceed to discovery in advance of a trial. The Supreme Court’s decision dismissed the lawsuit.

Reuters contributed to this report.

This post was originally published here

Americans are seeing their doctors, getting hospital procedures, and filling prescriptions more frequently than economists and budget experts anticipated. Weight loss drugs, in particular, have morphed into their own special category of spending and are pushing budgets across the country to their limits.

Combining an increased amount of care with the country’s high baseline of prices has resulted in the health care system taking up more of the economy, new data show — findings that again reflect people’s widespread discontent with how unaffordable health care has become.

The country spent $5.7 trillion on health care in 2025, a 7.3% increase from 2024, according to the latest government figures published in the journal Health Affairs on Wednesday. That amounted to almost $16,500 per person. 

Continue to STAT+ to read the full story…

This post was originally published here

The pharmaceutical giants behind the monumentally successful weight loss drugs Wegovy and Mounjaro have been teasing an expansion into other aesthetic fields like hair loss or skin care. 

Now, one of them is making a move, investing in a small startup developing a medication to spur hair growth, and potentially also treat endometriosis. 

On Wednesday, Absci announced that it raised $50 million from a group led by Eli Lilly. Lilly brought the lion’s share of the funding, handing over $40 million in exchange for equity in Absci, which is publicly traded on the Nasdaq. 

Continue to STAT+ to read the full story…

This post was originally published here

Northeast Ohio real estate agent Tracy Jones is setting a top-ranked transaction pace after overcoming some of life’s most difficult circumstances. Today, her Keller Williams-affiliated real estate team ranks No. 1 in Ohio among medium teams for transaction sides on RealTrends Verified’s rankings — with 300 sides and $56.4 million in volume in 2025.

The Tracy Jones Team, headquartered in Strongsville and covering surrounding Ashland, Mansfield, Richland County and Huron County counties, also landed at No. 13 nationally for sides among medium teams.

For a business founded in 2019, that trajectory represents a steady climb built on accountability, systems and a willingness to learn from mistakes.

“Every year we’ve been going up, so we’re kind of a slow burn,” Jones told HousingWire. “I’ve got a good solid team, and every year we do just a little bit more, so every year is our best year.”

Her latest results come as the real estate industry adjusts to market conditions following the post-pandemic boom. While some operations have struggled with volatility, the Tracy Jones Team has continued its upward momentum.

“Honestly, it’s about coaching and training, holding our agents to a high level, accountability, and we have systems and processes,” said Jones. “I mean, it’s no secret, it’s just hard work. We have standards. [Agents’] are expected to sell a minimum of 26 transactions, and/or 3.5 million [in volume] a year to qualify to stay on the team.”

Overcoming steep challenges

Jones entered real estate a little more than a decade ago in 2017, but her path to that career was anything but conventional.

She and her husband, Ryan, met in a 12-step program while both were recovering from addiction. By 2008, she was an auto worker at General Motors making nearly $100,000 a year in skilled trades. She could not relocate when asked to do so — and chose instead to pursue education as a displaced worker, receiving 99 weeks of unemployment and a full ride to college.

“Because I was such a slacker in high school, and I partied — that was when I was still partying quite a bit through my 20s — I didn’t have any kind of education,” Jones said. “I had to get a lot of the basic classes out of the way, and I was sitting in there with a lot of high school juniors and seniors.”

She worked her way to a bachelor’s degree in business administration with a finance focus while carrying mail and working factory jobs after unemployment benefits expired. Ryan supported Jones in getting through school, and she later put him through college in return.

In 2017, while working third shift at a factory and selling real estate during the day, she was logging about 100 hours a week between two jobs.

Her husband encouraged her to quit the factory job and pursue real estate full time.

Jones’ goal in her first full year; sell 52 houses, enough to match the weekly paycheck of her blue-collar job. She sold 64.

“I gave up a job at Newman Technology making about $70,000 a year, full benefits and a 401k,” she said. “I had two children in high school, a husband in college, two car payments and a mortgage — and [my family] was like, ‘Yeah, let’s quit that factory job and have you go full time into a 100% commission job, because we believe in you.’”

Building a team

By 2019, Jones was with Howard Hanna and drawing attention for her productivity. Jose Medina, who owns several nearby Keller Williams brokerages, recruited her, warning that she would burn out without leverage.

“He thought it would be a good idea if I would hire people to help me, and what I heard was, ‘You need to start a team,’” Jones said. She started the team that year — and made mistakes.

“I did everything wrong,” said Jones. “My first hire was a buyer’s agent and not an admin. I was our first transaction coordinator. I was our first listing coordinator, and as we got a little bit further in, I hired a part-time transaction coordinator, and just built the processes and systems.

“Slowly but surely, we got it down to where we had real systems. It was not easy and it took a while.”

In 2020, Ryan graduated college as a physical therapy assistant but lost his patient load when elective surgeries were canceled at the height of serious COVID cases. Jones had signed him up for real estate school without telling him — and within two months, he had made his entire annual salary from the previous year.

Ryan Jones is now the team’s director of sales, coaching all agents. Every Monday at 1 p.m., the team holds a sales class covering objections, social media and other skills.

“Our team is in our office all the time, they’re all here all the time. We’re just more like a family than we are a team,” Jones said.

Advice for others

For those looking to enter real estate or scale a team, Jones emphasized patience and outside perspective.

“Slow down to speed up, hire a coach and learn from everyone else’s failures,” she said. “I can tell you every single thing I did wrong, and I’m willing to be completely transparent.”

The team handles clients across all price points — from first-time buyers to luxury sellers. Jones said the key is consistent service regardless of transaction size.

“Speak to people on their own level and meet people where they’re at,” she said. “If they’re luxury, meet them at that luxury level. If they’re buying a first home, meet them at that level. Don’t talk down to people, don’t try to talk over people and don’t try to be somebody you’re not. Be authentic, and people will work with you.”

A personal milestone

In May, Jones walked across the stage to receive her MBA with a finance concentration. She had paused the master’s program years earlier to get her real estate license and finally returned to finish it.

“That finance concentration is extremely rare, because it’s the most difficult MBA path, which is why I did it. That’s kind of strange, but it’s relative and it helps with the business,” Jones said.

She will mark 20 years of sobriety on Sept. 11 — a milestone that, like her business success, came through consistency and accountability.

“I have a mentor and a coach, two people that hold me accountable on a weekly basis,” said Jones. “I also have a personal trainer. I have a sponsor. I have people that I surround myself with that hold me to a higher standard.

“I don’t think it’s right to lead people if you don’t have someone leading you and holding you accountable.”

This post was originally published on here

Before Tesla became a $1.3 trillion company and one of the most influential businesses in the world, its future rested on a simple but controversial belief: batteries—not engines—would transform transportation. The engineer who championed that idea, JB Straubel, is now reflecting on the gamble that helped reshape the auto industry.

Speaking at Fortune’s Brainstorm Tech Conference in Aspen, Straubel recalled that his first meeting with Elon Musk in 2003 was not about building electric cars at all. Yet Musk was convinced enough by the young Stanford engineer’s vision to write a check, launching a partnership that would eventually change the automotive world.

Straubel is one of Tesla’s five co-founders and served as the company’s Chief Technology Officer until 2019. While Musk became the public face of Tesla, Straubel was widely regarded as the architect of the company’s battery strategy—the technology that made long-range electric vehicles commercially viable.

At a time when electric cars were widely dismissed as impractical, Straubel focused on developing battery systems that could deliver both performance and scale. He also helped pioneer Tesla’s Gigafactory model, designed to manufacture batteries in massive volumes while driving down costs.

Years before Tesla’s rise, Straubel spent his spare time building solar-powered vehicles as a hobby. That passion eventually led him to electric transportation and the conviction that batteries would become the foundation of a new energy economy.

Looking back, Straubel said entrepreneurs must be willing to pursue ideas that many people believe will fail.

“You have to be willing to dive into something,” he said, noting that innovators should expect critics and skeptics along the way.

That conviction has proven valuable. Tesla’s energy-storage division has become one of its fastest-growing businesses. During the third quarter of 2025, Tesla’s energy segment generated more than $3.4 billion in revenue, representing over 12% of company sales and highlighting Tesla’s evolution from an automaker into a broader energy company.

Straubel stepped away from day-to-day operations at Tesla in 2019 but remains on the company’s board. His attention is now focused on Redwood Materials, the battery recycling and materials company he founded in 2017.

Based in Nevada, Redwood seeks to create a closed-loop battery ecosystem by recovering lithium, cobalt, nickel, and other valuable materials from used batteries and turning them back into new battery components. The strategy is aimed at reducing America’s dependence on foreign supply chains while supporting the rapid growth of electric vehicles, renewable energy, and AI-driven power demand.

Investors have embraced the vision.

Redwood raised more than $1 billion in a funding round co-led by Goldman Sachs Asset Management and funds advised by T. Rowe Price, followed by another $350 million investment round backed by Nvidia. The company also secured a conditional $2 billion Department of Energy loan to support expansion near Reno, Nevada.

Major industry partners include Panasonic, Ford, General Motors, and BMW, underscoring the growing importance of battery supply chains across the automotive sector.

The company is also positioning itself for a future where batteries are needed far beyond electric vehicles. The rise of artificial intelligence, data centers, and grid-scale energy storage is creating enormous demand for battery infrastructure capable of supporting increasingly power-hungry technologies.

That opportunity comes amid a changing political landscape. The expiration of the federal $7,500 electric vehicle tax credit and broader reductions in clean-energy incentives have slowed parts of the EV market. Yet demand for energy storage continues to rise as utilities, technology companies, and data-center operators seek reliable power solutions.

The common thread between Tesla and Redwood is the same belief Straubel held more than two decades ago: batteries are becoming the foundation of modern transportation and energy systems.

From a lunch meeting in 2003 to helping build one of the world’s most valuable companies, Straubel’s early bet on batteries continues to shape industries worth trillions of dollars—and may prove just as important in the decades ahead.

JBizNews Desk | New York
© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

Raed Abu Al-Qian, a civilian contractor with the IDF, was killed by a building collapse in the Gaza Strip on Wednesday, the military announced.

The contractor, a resident of Hura, had been working on engineering projects in Gaza on behalf of the Defense Ministry, the military added.

The IDF noted that the victim’s family has been notified.

On Tuesday, defense officials told Walla that the IDF had achieved operational control over 70% of the Gaza Strip.

A security source noted that the area under Israeli control could grow over the coming months, while “Hamas is allegedly dragging its feet, entrenching itself in the field, recruiting operatives, and preparing for war with Israel.”

The defense officials told Walla that the Southern Command conducts daily assessments across the Gaza Strip, combining IDF and Shin Bet intelligence to coordinate operational responses to emerging threats.

Walla: Israeli firms in talks over Gaza demolitions, rubble removal

Earlier on Wednesday, Walla reported that Israeli companies have begun negotiations regarding the large-scale demolition of Gaza’s structures.

Sources described the negotiations as unprecedented in scope, Walla noted.

“The peace government has a desire to advance the reconstruction process, but it is not meeting reasonable timelines or the scope they want,” a security source told Walla.

“We are talking about enormous amounts of destruction that they want to turn into recycled construction materials, to transport a large part of it, and at the same time to level the area in order to build new homes on it, and all this is happening even before Hamas has been disarmed and the Strip has been demilitarized,” the source added.

Amir Bohbot contributed to this report.

This post was originally published on here

The greatest and most dangerous weapon of our enemies is not missiles or drones. It is the division within us.

National resilience during wartime relies first of all on unity. The State of Israel is deep into the third year of a multi-front existential war. Our shared destiny is tested every day in cemeteries and rehabilitation wards. In a week where we bury fighters and cry alongside families whose worlds have been destroyed, we must remember what allows us to live here.

When I returned from the shiva of the late Nave Habshoosh in Geva Binyamin, his father told me a sentence that stuck with me. He demanded that we, the elected officials, stop using politics to tear and divide. He demanded that we know how to respect everyone in our discourse. This respect does not ask us to blur disagreements. Quite the opposite. Disagreement is a natural thing. Debate is a vital tool in a healthy democracy.

I want to see MK Yisrael Eichler and MK Gilad Kariv sit down, discuss matters of religion, and come to an understanding. I believe MK Yitzhak Pindrus and Knesset Speaker Amir Ohana can find common ground on shared ways of life. I also expect Minister Yitzhak Goldknopf to sit with me on the draft issue and reach real agreements together. This is possible.

The red line is crossed the moment one side forces its lifestyle on the other. Driving on Shabbat is a personal choice. Blocking the entrance to a street or paralyzing the country’s roads in pirate protests, as we saw this week, led by extremist factions, is a violent strike against freedom of movement.

There is a very fine line between maintaining a lifestyle and coercion. Haredi politics tramples that line over and over.

The aggressive show of force that flooded the country’s roads expresses a complete detachment from Israeli reality. While an entire nation fights for its existence, certain leaders choose to make it clear that the walls of sectarian isolation are more important to them than any national solidarity. The violent attempt to disrupt daily life is an open extortion attempt. The goal is clear: granting absolute immunity to draft dodgers and fortifying political privileges.

This escalation is a direct result of the haredi parties’ failure. They tried to pass the original draft of the exemption law, designed to perpetuate a sweeping sectarian exemption. I strongly opposed it. It was pushed back thanks to the firm stance of a group of Zionist Knesset members from within the coalition. The haredi representatives realized that the direct route to draft evasion had been blocked. In response, they pulled out bypass laws.

We saw the Daycare Law, designed to guarantee government subsidies even for draft refusers. We also saw the Basic Law: Torah Study. These are moves that seek to disconnect the eligibility for benefits from the duty of military and civil service. They grant infuriating excess benefits to those who choose to shirk the state’s defense. This is a cold and cynical attempt to get through the back door what the High Court of Justice and the public completely and justly rejected at the front door.

A danger to Israeli society

The worldview of the current haredi political leadership is dangerous to society, as it is based on exploiting the political system to secure large budgets. Religion has deeply entered politics and has become a financial burden on all Israeli citizens.

The haredi leadership demands we fund a separate lifestyle for one group at the expense of the values and lifestyle of the majority. The burden is divided in a distorted way. Our wonderful reservists are called up again and again to fight. While one sector protests for its right to dodge the draft, the public that actually serves in the military pays unimaginable prices. Families collapse. Businesses close. A combination of demanding that a serving public sacrifice its lives, alongside passing budgets that encourage draft evasion, is a moral distortion.

We are losing our direction. The State of Israel was founded on democratic and Western principles. We are gradually becoming a classic Middle Eastern country where the tribe holds central power. Blind tribal loyalty replaces statesmanship.

This tribalism encourages division, tears society apart, and weakens us from within. Knesset members from both sides of the aisle fall into this trap. They deepen the nation’s tear for narrow political gain.

My vision is different. I want every person, in their own private space, to live their life exactly as they choose. Secular or religious, Jewish or Muslim. One person’s choice will respect another’s living space. Reality forces us to lead a deep structural change.

I say this out of reverence for the Torah and heritage, but with great pain: Israel must promote a separation that disconnects government institutions and public budgets from extortion. Turning religion into a tool of coercion and political wheeling and dealing fuels hatred. Israel must conduct itself as a modern, liberal democracy based on equal rights and an equal share of the burden of national service.

The only way to secure our future is by establishing a broad unity government. A right-wing government, resting on a solid Zionist majority that served in the military. A government free from dependence on extortionist fringe parties from both ends of the political spectrum. This will pave the way for a national leadership that will bring equality and justice. The public that serves in the IDF has proven it is the overwhelming and determined majority of this country. It is time we prove to our enemies that their weapon has failed, and that we choose true unity.

The writer serves as Israel’s deputy foreign minister.

This post was originally published on here

The New York Democratic primaries were a big coming-out for the party’s leftmost flank — and a wake-up call for Jews in the city and beyond.

As a series of congressional candidates backed by progressive anti-Zionist New York City Mayor Zohran Mamdani notched victories, including over two pro-Israel incumbents, the future for the party’s relationship with Israel has never seemed more in question. With one of those winners, Brad Lander, being Jewish, left-wing Jews are also celebrating a new champion and a boost in electoral power.

At the same time, a new, smaller crop of pro-Israel victors could seek to carry the mantle for the liberal Jewish vote, while Jewish establishment leaders are navigating the changing political landscape.

Here are a few big Jewish takeaways from Tuesday night:

Are Jewish centers of power shifting?

Establishment Jewish figures and their allies were reading the tea leaves of the results Wednesday as voters seemed to shift further away from pro-Israel positions. Some downplayed any broader significance.

“Last night’s primaries indicate that DSA, Mamdani-backed candidates can win in different areas of New York City,” Halie Soifer, CEO of the Jewish Democratic Council of America, told the Jewish Telegraphic Agency. “But I don’t think that those same candidates could win anywhere else.”

Soifer’s pro-Israel group had offered a rare primary endorsement to Rep. Dan Goldman, who was routed by former New York City Comptroller Brad Lander. She added, “We know that Jewish voters feel very conflicted about the issue of Israel and the role that it’s now playing in Democratic politics.” 

She demurred on whether her organization could find a pathway to work with Lander, saying he “chose to use Israel as a wedge issue in this election, dividing Jewish voters.” In contrast to Goldman’s clearer support for Israel, Lander has called for ending aid to Israeli defense systems including the Iron Dome, a stance Soifer specifically noted would be a roadblock to collaboration. Lander describes himself as a liberal Zionist.

Other Jewish leaders were sounding notes of alarm Wednesday.

“We are deeply concerned by public leaders who vilify Jews and others who support Israel, including many who also strive for peace, support Palestinian rights, and mourn the suffering of innocent civilians,” Rabbi Jonah Pesner, director of Reform Judaism’s Religious Action Center, said in a statement.

“We reject the false choice between Jewish safety and Palestinian dignity. We will work with leaders across political and ideological lines when they share our values, and we will speak out forcefully when their words or actions undermine Jewish safety, demonize supporters of Israel, or deny Israel’s right to exist and thrive in security.”

House Minority Leader Hakeem Jeffries, whose own endorsed candidates mostly lost on Tuesday, congratulated Lander in an interview with NY1 and gave a “salute” to Goldman. The Brooklyn lawmaker also congratulated pro-Israel centrist Democrat Cait Conley (whom he did endorse) for her win in a suburban district held by Republican Rep. Mike Lawler that Jeffries hopes to flip.

A spokesperson for Democratic pro-Israel Rep. Ritchie Torres, who’d chased off a would-be pro-Palestinian primary challenger before the race got underway, declined to comment to JTA on what the race’s results mean for Jewish leaders.

“I think we’re in a moment of a lot of uprooting of conventional beliefs and conventional norms,” Goldman told the media following his loss. Contrasting Democrats with “1600 Pennsylvania Avenue,” he added, “The more internal division and divisiveness, internal fighting that we have, means that they’re going to continue to push forward with their agenda.”

Some Jewish pundits were more explicit about what they saw as the political threat. David Frum, a center-right columnist for The Atlantic, said before results came in that the primaries were a “test of power of Mayor Mamdani’s anti-Jewish messaging.”

Does this leave Jewish progressives in a moment of confusion — or ascension? New York Jewish Agenda, a left-leaning Jewish advocacy group whose previous director was appointed as Mamdani’s antisemitism czar, told JTA the answer might lie somewhere in the middle.

“We’re going to need to stretch in new and interesting ways in order to be effective,” Rabbi Margo Hughes-Robinson, the group’s director, said of NYJA’s coalition-building work. “There’s going to be unexpected bright spots and new areas of alignment in really unlikely places.” Lander and Lasher are former NYJA board members.

Hughes-Robinson acknowledged that, in the wake of wins in other congressional districts, such as that of former encampment organizer Darializa Avila Chevalier, Jews “may not receive the same warm invitation” from some of their progressive counterparts going forward. Still, she insisted, Jews should “try to be in the room and get work done.”

The results, she said, also showed that “there’s a diversity of Jewish voices, and I actually think that’s a really good thing.”

IfNotNow, though, was ebullient — and eager to anoint a new standard-bearer for the Jewish community. 

“Brad’s win is a blueprint for the future for both the Jewish community and the Democratic Party,” the pro-Palestinian Jewish group, which heavily boosted Lander, wrote on social media. “He ran a bold, unapologetically Jewish campaign that rejected pro-war lobbies like AIPAC and the endless flow of US weapons to Israel. And his vision won resoundingly.”

Zohran Mamdani’s influence

The anti-Zionist mayor made a big push for political influence in Tuesday’s primaries, and his bets paid off. All three congressional candidates Mamdani stumped for, who hit the campaign trail with fierce criticism of Israel as one of their major commonalities, prevailed in their contests and are virtually assured seats in the House in November given the Democratic makeup of their districts. The victories further cemented Mamdani’s status in the minds of many political analysts as a new center of power for progressive Democrats.

Mamdani-backed victories include state lawmaker Claire Valdez, the democratic socialist who bested Brooklyn Borough President Antonio Reynoso for the open seat in New York’s 7th Congressional District. The Associated Press called the race for Valdez early, with her pulling 56% of the vote to Reynoso’s 35% as of press time. The district’s retiring representative, Nydia Velázquez, had backed Reynoso.

“I will continue to call for Palestinian liberation,” Valdez said during her victory speech, to cheers. “We will stand up to the genocide. We will refuse to abide by apartheid. And we will use our money to improve lives here instead of destroying them abroad.”

Chevalier, the former Columbia University encampment organizer who had attended a pro-Palestinian rally at which support for Hamas was expressed on Oct. 8, 2023, also shocked the political establishment by squeaking out a win over incumbent Rep. Adriano Espaillat in the 13th district. “Free Palestine” chants broke out at her victory celebration, which was also attended by Palestinian activist Mahmoud Khalil. (Chevalier, like Valdez, was backed by the DSA.) 

And in a matchup between two Jews that the Jewish political establishment watched closely, Lander, a frequent Mamdani surrogate, trounced Goldman, the incumbent. 

“The mayor showed that he knows how to pick winners,” Manhattan Borough President Brad Hoylman-Sigal, who is Jewish, told JTA on Tuesday night. “I think that’s a big takeaway, and his popularity is transferable. And that’s more power to his coalition; those who doubted his reach should rethink their assessment.”

As the mayor helps push Democrats further to the left on Israel, he has also contributed to a coarsening of political rhetoric for Jews. 

Mamdani, at his rally last week backing his preferred candidates, triggered backlash from Jewish corners for comparing pro-Israel lobbyists AIPAC to “monsters.” Jewish leaders (including, in the primary’s final hours, the Union for Reform Judaism and Anti-Defamation League CEO Jonathan Greenblatt) criticized his language. 

But none of it seemed to hurt his candidates or his reach.

Who will carry the torch for pro-Israel Jews in Congress?

One notable race in which Mamdani hadn’t intervened was his own congressional district: the 12th, which is also the most Jewish in the country. There, Jewish State Assembly member Micah Lasher won the race to succeed his former boss, progressive Rep. Jerry Nadler, himself a fixture of liberal Jewry. The mayor did not reveal whom he had voted for.

Lasher, who said during the race that he was “exhausted” with how the electorate seemed to be “obsessed with Israel,” will aim to thread the needle for liberal pro-Israel Jews as Nadler once did — but at a much more challenging moment for pro-Israel politics. He has pushed for “Hamas out of Gaza and Netanyahu out of the Knesset,” while also seeking protections for Jewish college students and on other fronts.

Unlike in the other races, though, Lasher’s did not explicitly pivot on Israel — making it hard to draw conclusions about his voters’ tolerance for more critical views. (One of his major sticking points with his leading primary opponent, Alex Bores, was over artificial intelligence.) Lasher’s strong bonds with the local Jewish community will also position him for a potentially crucial interlocutor role for local Jews, some said.

“I think that Micah is going to be a bridge between the Jewish community and the current city administration,” Hoylman-Sigal told JTA. “I think he’s someone who can work with the mayor, but I think he can also represent the community in a way that’s going to make us all proud.”

Conley’s victory in the suburbs, meanwhile, could bring another pro-Israel Jewish torchbearer to Congress as the body becomes a lonelier place for that demographic population. The 17th district has a large pro-Israel Orthodox population, and is currently represented by Lawler, though Democrats are bullish on their prospects in November. Lawler is regarded as one of the most vulnerable House Republicans in the country. 

Although Conley bested a Jewish opponent, Beth Davidson, in the primary, the military veteran ran a staunchly pro-Israel campaign and has said she sees the country as a key US national security ally. How Democrats, and their Jewish leaders, rally behind her in their efforts to flip the seat will serve as a telling sign of whether the party can still sell itself to pro-Israel swing voters.

For all the attention AIPAC attracted in New York City this election cycle, one could be forgiven for assuming the lobbyists were spending on candidates there like crazy.

Mamdani’s now-infamous “monsters” comment preceded a Brooklyn cafe rejecting Goldman’s business on the grounds that his money for a cup of coffee was “probably coming from AIPAC” — which had endorsed Goldman. 

The progressive victors Tuesday night railed against the pro-Israel group in their speeches, but in fact, AIPAC appeared to be less involved than most progressives charged. Following accusations from Valdez that a new super PAC backing her opponent was being secretly funded by AIPAC, the PAC’s own supporters denied the charge. 

In general, the AIPAC lobbyists appear not to have funneled the kinds of primary cash into the New York-area races that they have in other cycles. The exception, a large donation to Chevalier’s opponent Espaillat, backfired with a Chevalier victory.

In its own statement on the race, AIPAC congratulated Jeffries and touted its endorsed candidates who had won elsewhere in New York and other states — many of whom ran with no serious opposition.

“While disappointed that some of our endorsed candidates did not prevail, our community is proud to support pro-Israel Democrats and Republicans who stand for our values, and we are encouraged that voters in races across the country this primary season continue to choose serious, thoughtful leaders who support a strong US-Israel partnership,” the group wrote.

Liberal pro-Israel lobby J Street’s brand fared slightly better. The group congratulated Lander, whom they had endorsed — while also cross-endorsing Goldman — as well as Lasher and Conley. 

In a statement to JTA, J Street director Jeremy Ben-Ami said of Lander, “We look forward to working with him toward a peaceful future for Israelis and Palestinians.”

Are progressives splitting over Israel divisions?

Even among a broader victory for Mamdani’s lane of progressivism, there were some signs of strain. 

Sen. Bernie Sanders, who is Jewish, endorsed Lander and Valdez — but not Chevalier (although he spoke at a joint rally for her and the other candidates). In a since-deleted X account, Chevalier years ago had knocked Sanders for his “liberal Zionism,” the New York Post reported. New York Rep. Alexandria Ocasio-Cortez, another progressive superstar with an often rocky relationship with Jewish communities, also did not endorse Chevalier.

Meanwhile, New York’s first lady Rama Duwaji, whose social media activity has long suggested even more strident pro-Palestinian views than her husband, urged her followers to vote for Valdez and Chevalier, the two DSA-backed candidates — but she did not mention Lander, the lone Jewish candidate and most positive toward Israel of the three Mamdani endorsees. 

Lander, despite being Mamdani’s most visible Jewish ally, also showed signs of frustration with the movement during his campaign. He wouldn’t defend the mayor’s AIPAC comments, instead pushing for “a spirit of unity and humanity.” 

In the campaign’s waning hours Lander also spoke out against what he described as “over-the-top toxic” attacks that his opponent, Goldman, faced on the campaign trail, adding, “I’m pleading with people to turn it down.” Though Lander didn’t specify which kinds of attacks, Goldman’s most visible antagonists made no secret of their disdain for his pro-Israel views.

The spectrum between Lander and Chevalier suggests that in addition to support for Israel becoming a liability in the Democratic Party, another fault line could soon emerge over whether to express basic civility toward pro-Israel colleagues.

Joseph Strauss contributed reporting.

This post was originally published on here

Five senior Senate Democrats are demanding congressional hearings into a $500 million investment made by an Emirati-backed group into a cryptocurrency company tied to the Trump family, escalating scrutiny of one of the largest foreign investments connected to a presidential family business.

In letters sent Tuesday to Republican committee chairmen, Sens. Elizabeth Warren, Richard Blumenthal, Gary Peters, Dick Durbin, and Ron Wyden called for hearings examining the investment, the company’s foreign ties, and whether subsequent U.S. policy decisions involving the United Arab Emirates created potential conflicts of interest.

The investment centers on World Liberty Financial, a cryptocurrency venture associated with Donald Trump Jr., Eric Trump, and other partners.

According to reports and documents cited by lawmakers, an investment vehicle known as Aryam Investment 1 acquired a 49% stake in the company through a deal signed on January 16, 2025, just days before President Trump’s inauguration.

The investment group is linked to Sheikh Tahnoon bin Zayed Al Nahyan, the UAE national security adviser, brother of the country’s president, and one of the most influential figures in the Gulf state’s technology, intelligence, and sovereign wealth sectors.

The senators argue that the transaction deserves additional scrutiny because of policy developments that followed.

Within months of the investment, the United States approved frameworks that expanded the UAE’s access to advanced artificial-intelligence semiconductors and other strategic technologies that had previously faced restrictions due to national-security concerns.

Lawmakers are seeking testimony from administration officials and have also urged a review by the Committee on Foreign Investment in the United States (CFIUS).

At the center of the controversy is the question of whether a foreign government-linked investment in a company associated with a sitting president’s family could create the appearance of influence over U.S. policy decisions.

The business implications stretch beyond politics.

World Liberty Financial is connected to USD1, a dollar-backed stablecoin that is reportedly backed by short-term U.S. Treasury securities. The cryptocurrency venture has attracted attention across financial markets as digital assets become increasingly intertwined with traditional banking, payments, and international finance.

The same Emirati investment network has also been linked to major investments in the broader cryptocurrency ecosystem, including projects involving artificial intelligence and blockchain infrastructure.

Supporters of the administration reject allegations of wrongdoing.

White House officials have stated that no conflicts of interest exist and argue that President Trump is not directly involved in operational business decisions associated with the venture.

Representatives connected to the company have also stated that appropriate legal and ethical safeguards are in place.

Whether hearings ultimately occur remains uncertain.

Because Republicans control the relevant committees, Democratic lawmakers can request hearings but cannot compel them.

Even so, the letters ensure the issue is likely to remain a topic of debate on Capitol Hill as lawmakers continue examining the intersection of cryptocurrency, foreign investment, national security, and presidential business interests.

JBizNews Desk | New York
© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

Prime Minister Benjamin Netanyahu completed his testimony in his criminal trial on Wednesday, after 98 hearing days on the witness stand since December 2024.

The prosecution’s cross-examination began on June 3, 2025, after nearly six months of direct examination, and ended on June 16 after 59 hearing days.

Netanyahu’s final appearances were limited defense re-examination, meant to clarify matters raised in cross-examination rather than reopen the evidence.

The trial will now continue with the remaining defense witnesses. After the evidence phase ends, the parties will submit summaries before the three-judge Jerusalem District Court panel issues a verdict.

The 2020 indictment contains three separate affairs.

Netanyahu is charged with fraud and breach of trust in Case 1000, over gifts from businessmen, principally Arnon Milchan, and in Case 2000, over recorded conversations with Yediot Aharonot publisher Arnon “Noni” Mozes.

In Case 4000, the Bezeq-Walla affair, he is charged with bribery as well as fraud and breach of trust over the alleged exchange of regulatory benefits for favorable treatment at Walla.

Netanyahu had an answer in every case; cross-examination was about whether those answers could survive contact with the evidence around them: the gifts and official assistance sought by Milchan in Case 1000, the Walla requests and Bezeq decisions in Case 4000, and the recorded Mozes conversations in Case 2000.

One recurring defense

Throughout the testimony, Netanyahu described the conduct as ordinary: friendship with Milchan, a political battle with Mozes, and hostile coverage at Walla that prosecutors had recast as a media-for-regulation deal.

The prosecution argued that the events only looked ordinary when viewed in a single file. Put together, it said, they showed a prime minister whose personal relationships, media interests, and official decisions repeatedly met in the same place.

Memory was another recurring fault line. On the first day of cross-examination, prosecutor Yonatan Tadmor said Netanyahu had answered that he did not remember 1,788 times during police questioning in Cases 1000 and 2000.

Netanyahu replied that he was not trying to evade questions, saying: “Everyone has memory lapses from time to time, even me.”

That issue resurfaced throughout the testimony. Prosecutors treated gaps in Netanyahu’s recollection as part of the credibility problem they were trying to establish, while Netanyahu maintained that he was answering honestly when he could not recall a detail.

Case 1000: When does friendship become a conflict?

Netanyahu did not deny that he and Milchan were friends, but insisted that the gifts were part of a relationship that continued even when he was out of office: “It was not about my position – it was friendship.”

This friendship was not something the prosecution needed to disprove. Tadmor instead focused on the scale of the gifts, Milchan’s access to Netanyahu’s staff, and the assistance sought.

The legal fight centered on whether Netanyahu could treat the gifts as private while being asked to use public power in matters affecting the man who gave them.

Netanyahu insisted he did not provide exceptional treatment, saying during one hearing, “I’m not a dog. I don’t come when people whistle.”

The judges must decide whether the relationship remained private or crossed into a conflict created by public office.

Case 4000: Did the fragments add up?

Case 4000 was the hardest file because neither side could point to one clear exchange.

The prosecution instead asked the judges to connect alleged coverage requests, contacts involving Netanyahu’s advisers, the alleged meeting with former Communications Ministry director-general Shlomo Filber – a former Netanyahu aide who became a state witness – and regulatory decisions involving Bezeq into one alleged arrangement.

Netanyahu’s answer was equally consistent: Walla was “a very hostile website.” He denied directing coverage, knowing of improper intervention, or giving Filber the alleged instruction.

“I did not say anything to Filber,” Netanyahu told the court. “I did not speak to him about this at all.”

In the final re-examination, defense attorney Amit Hadad said the defense had reviewed 315 coverage items with Netanyahu in direct examination, while the prosecution had focused on roughly 14 or 15.

The defense said the prosecution selected a handful of items from a much larger picture of hostile coverage. Prosecutors said those episodes show the “unusual responsiveness” alleged in the indictment.

This is why Case 4000 was the most demanding. The prosecution did not have one recording in which Netanyahu and Shaul Elovitch explicitly traded coverage for regulation.

It rather asked the judges to infer an arrangement from Filber’s account; contacts with the Prime Minister’s Residence; aides’ requests; the conduct of Shaul Elovitch, then Bezeq’s controlling shareholder and Walla’s owner, and his wife, Iris; regulatory decisions affecting Bezeq; and the coverage itself.

Netanyahu’s credibility matters because that chain repeatedly returned to the same question: What did he know, what did he direct, and when?

Case 2000: The recordings are just the beginning

Case 2000 is different because the conversations between Netanyahu and Mozes were recorded.

The dispute was not whether they spoke about Israel Hayom and coverage; it was whether Netanyahu was genuinely negotiating the proposed exchange or merely stringing Mozes along.

According to the indictment, Mozes offered improved coverage of Netanyahu and worse coverage of his political rivals in return for steps that would restrict Israel Hayom.

Prosecutors said Netanyahu discussed a softened Israel Hayom bill to keep Mozes from launching an all-out campaign before the 2015 election.

Netanyahu said he was managing a political and media rival, not negotiating a criminal arrangement. He described the strategy as trying to keep a “cold war” with Mozes from becoming a “hot war.”

Unlike Case 4000, the conversations themselves were not reconstructed from surrounding evidence – they were on tape. That made the dispute narrower, but not simpler: the judges must decide whether Netanyahu’s words show real bargaining or political theater.

Case 2000 also became a way to test the defense in Case 4000. Prosecutors argued that Netanyahu’s willingness to discuss Mozes’s business interests weakened his claim that Elovitch never spoke to him about Bezeq. Netanyahu called that a false comparison.

The calendar became its own story

For much of the year, the cross-examination had a second subject: whether it would take place at all.

War, illness, travel, security and diplomatic demands, government business, official ceremonies, and confidential material all shortened, delayed, or canceled hearings.

Some requests involved security material that the judges reviewed in closed session, while others led to open friction.

The result was a trial heard in fragments, where the court repeatedly had to decide whether the demands of a sitting prime minister outweighed the need to maintain a continuous criminal proceeding.

Netanyahu’s request for a presidential pardon, submitted while Case 4000 cross-examination was underway, added a separate track to the legal process. It did not halt the proceedings, and its timing did not prove what the defense thought about the evidence.

But it made the dual nature of the case impossible to ignore: the court continued testing the indictment, while a parallel public and political discussion considered whether the case should end without a verdict.

The clock now matters

The immediate next stages are remaining defense evidence, summaries, and then judgment.

But Friedman-Feldman is due to retire in March 2028, creating a practical pressure point for the panel as it tries to move the case forward.

What the end of testimony means

Netanyahu’s testimony is now on the record. His lawyers can call witnesses and argue that prosecutors have misunderstood the evidence, but any later argument will be measured against the account he gave from the witness stand.

The judges are left with three versions of the same broader story. Netanyahu says the prosecution criminalized friendship, political self-defense, and ordinary government conduct. The prosecution says those labels obscure the use of public power around him.

The verdict will depend on which description better fits what the court has heard.

This post was originally published on here

The Chinese self-driving technology company Momenta moved a major step closer to going public on Tuesday, June 23, 2026, filing fresh paperwork with the Hong Kong Stock Exchange after clearing its listing hearing — the final approval needed before selling shares to the public. The company, which counts General Motors and Tencent Holdings among its biggest backers, is expected to start measuring investor interest as soon as this week. China’s securities regulator signed off on the listing earlier this month.

Momenta is aiming to raise about $1 billion, in a deal that would value the company at roughly $9 billion, according to people familiar with the plans. That would make it one of the larger technology listings in Hong Kong this year. The company was valued at more than $5 billion in its last private fundraising round, so a successful debut would mark a sharp step up.

For readers who have never heard of it, Momenta builds the software “brain” that lets cars drive themselves. Its technology comes in two forms. One is the driver-assistance system — the kind that handles highway lane-keeping and parking in everyday cars you can buy today. The other is full self-driving for robotaxis, robovans, and even self-driving trucks that operate with no human at the wheel.

The company has quietly become a giant in its field. Its systems are now installed in close to 700,000 vehicles, with design wins across more than 170 car models. In China’s market for third-party urban self-driving software, Momenta holds an estimated 65% share. Its customers and partners read like a roll call of the global auto industry: Mercedes-Benz, BMW, Audi, Toyota, and SAIC Motor among them.

The General Motors tie is central to the story. The Detroit automaker invested $300 million in Momenta in 2021 to help develop self-driving features for the cars it sells in China, the world’s largest auto market. For GM, the stake is both a financial bet and a way to keep a foot in China’s fast-moving self-driving race without building everything itself.

Momenta originally wanted to list in New York and confidentially filed there in 2024. Those plans fell apart as tensions between Washington and Beijing made it harder for Chinese technology firms to go public in the US. So the company pivoted to Hong Kong, joining a growing line of Chinese tech and robotics names choosing the Asian financial hub instead. Rivals Pony.ai and WeRide both listed there last year.

The timing reflects a boom in Hong Kong share sales. Companies raised about $21 billion in the city in the first five months of 2026, more than double the amount over the same stretch a year earlier. After a long dry spell, Hong Kong is once again a magnet for big technology offerings — and Momenta would be one of the headline names of the year.

There is a catch buried in Momenta’s impressive investor list. Several of its backers — including General Motors, Toyota, Mercedes-Benz, and SAIC Motor — are rival carmakers that are also its customers. Over time, analysts warn, those automakers may not want to depend on an outside supplier that serves their competitors, and many are racing to build their own self-driving software in-house. Momenta’s strength today rests partly on a window that could narrow as the industry matures.

For everyday drivers, the listing is a sign of how fast self-driving is moving from science fiction toward the showroom. The same technology Momenta sells to automakers is what increasingly decides how safe, smart, and hands-free new cars feel. And for American companies like General Motors, the deal is a reminder that much of the cutting-edge work in autonomous driving is now happening in China — a fact with real weight as the US and China compete for the lead in artificial intelligence.

If all goes to plan, Momenta could formally launch its offering around the end of June. Whether public investors reward it with the $9 billion price tag it is seeking will depend on how its progress stacks up against listed rivals like Pony.ai and WeRide, which already trade on the open market. For now, one of China’s best-funded self-driving startups is finally ready to test what the public thinks it is worth.

JBizNews Desk

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

Sales of newly built homes fell unexpectedly in May, marking the second consecutive month-over-month decline, according to a June 24 report from the Census Bureau.
New home sales fell 7.3 percent in May to a seasonally adjusted annual rate of 580,000, down from 626,000 in April, following a 5.7 percent drop the previous month. The sales level is far below market expectations of about 640,000 for May.
The May new home sales also declined by 6.8 percent from the May 2025 rate of 622,000.
Rising mortgage rates and inflation, along with economic uncertainty, may have kept many new home seekers out of the market in May, according to Bill Owens, chairman of the National Association of Home Builders (NAHB)….

This post was originally published here

Just in time for those trillion-dollar IPOs, a unique trophy penthouse will be up for auction this summer. Set into the iconic golden cupola atop the Sohmer Piano Building at 170 Fifth Avenue, adjacent to the Flatiron Building, this renovated penthouse condo has pride of place on the New York City skyline. The commanding sky palace, spanning over 5,000 square feet on two floors with a private roof deck, is asking $14.9 million. In an upcoming auction, bids are expected to start between $6 million and $9 million.

Built in 1898, the 13-story Beaux Arts building is considered to be among architect Robert Maynicke’s most dramatic contributions to this stretch of Fifth Avenue. As 6sqft previously reported, the duplex was last listed in 2024, asking a hefty $25 million.

The penthouse duplex has been thoroughly renovated, retaining much of its Gilded Age charm. Interiors have an open design with ceilings stretching skyward, wrapped by windows with skyline views. The entire roof deck forms a private patio for outdoor skyline-gazing.

“This is the type of trophy asset that transcends traditional luxury real estate,” Chad Roffers, CEO and Co-Founder of Concierge Auctions, said.

“Positioned atop one of Manhattan’s most iconic landmark buildings with panoramic views of the city’s skyline on prestigious Fifth Avenue, the residence offers a level of rarity and provenance that resonates with collectors and discerning buyers worldwide.”

Two grand foyers bookend a circular limestone staircase below 80 feet of greenhouse-style solarium windows.

The standout feature, of course, is the golden dome cupola. Within it, a magical lounge enjoys 360-degree views that include the Empire State Building, the Flatiron Building, and Madison Square Park.

A pristine eat-in kitchen serves open living, dining, and entertaining areas. A built-in banquette and marble-topped island invite casual dining.

The private roof deck is another opportunity to enjoy dramatic Manhattan skyline vistas. Just in view is the building’s golden pinnacle.

On the lower floor of the duplex, a corner primary suite enjoys three exposures, endless closet space, and a suitably luxurious bath. Three more bedrooms are large, luxurious, and filled with light.

Bidding opens July 15 at ConciergeAuctions.com and closes July 29. Notably, 100 percent of sale proceeds will benefit the Gorongosa Project, a conservation and community-development organization in Mozambique.

[Listing details: The Sohmer Piano Building, 170 Fifth Avenue, #PH at CityRealty]

[At Sotheby’s International Realty by Lawrence Treglia and Claire Groome]

RELATED:

The post $15M penthouse in a gold cupola high above Fifth Avenue heads to auction this month first appeared on 6sqft.

This post was originally published here

Americans heading out for summer vacations are paying significantly more to travel this year, with airfare, fuel, hotels, and other travel-related costs climbing as global energy markets continue feeling the effects of the Iran conflict.

According to data from the Airlines Reporting Corporation, average domestic round-trip airfare reached approximately $623 in April, the highest level in nearly four years.

Government inflation data tells a similar story.

The Bureau of Labor Statistics reported that airfares have risen roughly 27% over the past year, while hotel and motel rates are up about 5% and restaurant prices have increased approximately 3.5%.

At the center of the price surge is fuel.

The conflict that began on February 28 involving the United States, Israel, and Iran disrupted global energy markets and drove jet-fuel prices sharply higher. During the height of the crisis, jet-fuel costs roughly doubled compared with pre-conflict levels.

For airlines, fuel remains one of the largest operating expenses.

Hayley Berg, lead economist at travel platform Hopper, notes that jet fuel typically accounts for between 20% and 30% of an airline’s total operating costs, making fuel-price fluctuations one of the biggest drivers of airfare changes.

The situation was compounded by disruptions in the Strait of Hormuz, one of the world’s most important shipping corridors and a route through which roughly one-fifth of global oil supplies normally pass.

As fuel costs climbed, airlines moved quickly to protect profitability.

Several carriers raised ticket prices, increased baggage fees, reduced route frequencies, and adjusted capacity forecasts.

United Airlines recently lowered portions of its 2026 outlook as elevated fuel costs weighed on operating expenses.

In Europe, Lufthansa faced billions of dollars in additional fuel costs and responded by reducing flight schedules and cutting capacity across parts of its network.

Meanwhile, the collapse of budget carrier Spirit Airlines reduced low-cost competition in the domestic market, giving surviving carriers greater pricing power during the busy summer travel season.

Drivers have also felt the impact.

Gasoline prices surged above $4 per gallon in many areas this spring, well above levels seen a year earlier.

Analysts at GasBuddy warned that prices could approach $5 per gallon in some regions if disruptions to global energy supplies persisted through the summer.

For families planning road trips, higher fuel prices translated directly into increased travel budgets.

Filling a family SUV often costs substantially more than it did before the conflict began.

There are signs that some relief may be approaching.

As diplomatic efforts between Washington and Tehran progressed and shipping activity through Hormuz began normalizing, oil prices retreated significantly from their wartime highs.

The challenge for consumers is timing.

Industry analysts note that declines in crude-oil prices do not immediately translate into lower airline ticket prices or cheaper jet fuel. The process can take weeks or even months to filter through supply chains.

In many cases, fees introduced during periods of higher costs — particularly baggage charges and ancillary travel fees — tend to remain in place even after fuel prices moderate.

Travel experts continue encouraging consumers to book trips as early as possible and remain flexible when selecting destinations.

Some travelers are responding by choosing shorter trips, driving instead of flying, or selecting destinations closer to home to offset rising costs.

The travel-price surge is also contributing to broader inflation pressures across the economy.

Consumer prices remain elevated, one reason the Federal Reserve under Chair Kevin Warsh has maintained a cautious stance on interest rates rather than moving aggressively toward cuts.

For travelers, the outlook remains mixed.

While energy prices have begun easing and supply chains are stabilizing, vacation costs remain well above last year’s levels.

The good news is that the worst of the fuel shock may be over.

The bad news is that many families will still feel the impact when they book flights, reserve hotels, and fill up their gas tanks this summer.

JBizNews Desk | New York
© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

For years, warnings about artificial intelligence focused on factory workers, truck drivers, and warehouse employees.

The reality unfolding across corporate America in 2026 looks very different.

The workers increasingly finding themselves squeezed are middle managers — the supervisors, coordinators, and team leaders who sit between frontline employees and senior executives.

A recent Korn Ferry survey of approximately 15,000 professionals worldwide found that 41% of employees reported their organizations had reduced management layers over the past year. The trend has become so widespread that workplace analysts have given it a name: “The Great Flattening.”

At the center of the shift is AI’s growing ability to perform many of the tasks that traditionally justified large management structures.

Much of a middle manager’s role has historically involved collecting updates, coordinating projects, preparing reports, monitoring workflows, assigning tasks, and communicating information between executives and staff.

Increasingly, software can perform many of those functions automatically.

Modern AI systems can summarize meetings, track projects, generate reports, monitor performance metrics, organize workflows, draft communications, and provide executives with real-time operational visibility that previously required multiple layers of human oversight.

As those capabilities improve, companies are questioning whether they need as many managers as they once did.

The numbers suggest many organizations have already started answering that question.

A study by workplace-training firm Lepaya found management headcount at public companies declined 6.1% between 2022 and 2025, with major corporations including Meta, Amazon, Google, and Intel reducing management layers as they streamlined operations.

Research firm Gartner projects that through 2026, one in five organizations will use AI to flatten corporate structures, eliminating more than half of current middle-management positions.

Retail giants are moving in the same direction.

Target CEO Michael Fiddelke recently said the company had accumulated too many overlapping management layers that slowed decision-making and complicated operations.

Meanwhile, Walmart has largely frozen overall workforce growth while integrating AI tools across numerous business functions, particularly within white-collar roles.

The appeal for employers is obvious.

Fewer management layers can reduce costs, accelerate decision-making, improve communication, and create leaner organizations.

But the transition comes with risks.

The same Korn Ferry research found that 37% of employees whose managers were eliminated reported feeling less supported and less certain about organizational direction.

Nearly half of senior executives surveyed expressed concern about absorbing the additional responsibilities previously handled by middle managers.

Removing management positions does not eliminate the work those managers performed.

Coaching employees, resolving conflicts, mentoring future leaders, communicating priorities, and translating executive strategy into day-to-day execution still need to happen.

In many organizations, those responsibilities are simply being redistributed to already stretched senior leaders or junior employees who may have little management experience.

Human-resources professionals say the uncertainty has contributed to increased employee anxiety and disengagement, including a growing phenomenon known as “doomjobbing” — workers quietly searching for new opportunities while remaining employed because they are uncertain about their future within the organization.

The shift may also reshape career advancement.

For decades, middle management served as the primary pathway toward executive leadership.

Employees learned how to manage teams, oversee budgets, handle performance issues, and develop leadership skills before moving into senior positions.

As those opportunities shrink, the traditional corporate ladder becomes narrower.

Research from the National Bureau of Economic Research suggests managers within flatter organizations often earn less than their counterparts in more traditional corporate structures while carrying broader responsibilities.

Not everyone believes middle management is disappearing entirely.

Many workplace experts argue the role is evolving rather than vanishing.

Instead of spending time on administrative coordination and reporting, future managers may focus more heavily on leadership, employee development, coaching, strategic planning, and relationship building — areas where human judgment remains difficult to automate.

Others warn companies could move too aggressively.

Anthropic CEO Dario Amodei has cautioned that widespread adoption of AI could lead to significant disruption across white-collar professions if organizations fail to carefully manage the transition.

Critics argue that eliminating management layers too quickly may create invisible costs through weaker communication, lost institutional knowledge, reduced mentorship, and declining employee engagement.

What is clear is that the transformation is no longer theoretical.

For millions of office workers, the question is no longer whether AI will change the workplace.

The question is what happens when the middle of the organizational chart — the traditional stepping stone to leadership — becomes increasingly difficult to find.

JBizNews Desk | New York
© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

The newest wing at New York’s oldest museum officially opened this week following a 71,000-square-foot expansion. Completed just in time for the nation’s 250th birthday, the $175 million Tang Wing for American Democracy at The New York Historical, designed by Robert A.M. Stern Architects (RAMSA), marks the first expansion of the landmarked campus in nearly a century. The new wing adds space for exhibitions, programming, and democracy education, including the first dedicated home for the American LGBTQ+ Museum, the institution’s Patricia D. Klingenstein Library collection, a courtyard, and a rooftop garden with Central Park views.

Founded in 1804, The New York Historical (formerly the New-York Historical Society) is New York City’s first museum, established when the United States was still an emerging nation. The museum was originally located in Lower Manhattan before relocating to the Upper West Side at 170 Central Park West in 1908, where it gradually expanded its membership and programming, according to the New York Times.

The museum continues to grow, prompting an expansion. While momentum for the project has increased in recent years, the groundwork was first laid in 1937, when the society’s board purchased the adjacent lot at the rear of the landmarked building, as 6sqft previously reported.

The Klingenstein Family Gallery

Approved by the city’s Landmarks Preservation Commission in 2021, the six-story addition was crafted with granite sourced from a quarry in Deer Isle, Maine, the same quarry that supplied the stone for the existing building 114 years ago.

The Stuart and Jane Weitzman Shoe Museum, located on the first floor of the Tang Wing for
American Democracy at The New York Historical

On the first floor, the new Klingenstein Family Gallery serves as a flexible space for events and exhibitions, housing the Historical’s American art collection and rotating exhibitions. One exhibit, the Stuart and Jane Weitzman Shoe Museum, documents two centuries of American women’s lives through historical footwear.

Another installation celebrates the country’s first public folk art collection, displaying weathervanes, chalkware, paintings, and other highlights.

Other exhibitions include an exploration of the history of the International Ladies’ Garment Workers’ Union, a timeline of LGBTQ+ civil rights, and a photo display capturing moments of queer joy and visibility on stage, on screen, on the dance floor, and in the streets.

The galleries are also displaying special exhibitions for the nation’s semiquincentennial. On view through August 16, “House Made of Dawn” showcases artistic expression and modernist practices by artists of Indigenous heritage.

“Old Masters, New Amsterdam,” on view through August 30, uses paintings by Rembrandt and his peers to envision life in the Dutch settlement before it became the metropolis we know today. On view through October 25, “Revolutionary Women” explores how the American Revolution impacted New York’s women and examines the ways they played an active role in the event.

“Democracy Matters,” on view through November 1, unites art and historical objects from the Historical’s collection to examine how the concept of democracy has evolved throughout key moments in the nation’s history.

“You Should Be Dancing: New York, 1976 and Beyond,” on view from October 2 through April 4, 2027, highlights how New York’s youth in 1976, when the city was in crisis, helped revitalize the five boroughs and emerge from this transformative era. The exhibit features music, fashion, instruments, photographs, and original documents.

The institution’s renowned Patricia D. Klingenstein Library also finds new storage space in the wing. As one of the country’s oldest research libraries, the facility holds the Robert A. Caro Archive, the Time Inc. Archive, the Billie Jean King Archive, and millions of manuscripts, maps, photographs, and prints documenting the history of the five boroughs.

The Leni and Peter May Conservation Studio

Additionally, the Tang Wing features the Leni and Peter May Conservation Studio, allowing for the on-site preservation of rare documents and other materials from the collection. Designed by Samuel Anderson, a prominent architect of conservation studios, the space houses a team of four museum and library conservationists working with advanced technology.

The Dorothy Tapper Goldman Center for Teaching Democracy will offer space for teachers, scholars, and museum professionals to delve into history, political theory, and “engaging pedagogy.”

The Gund Democracy Classroom

The wing also provides new space for the Chang Chavkin Academy for American Democracy, a classroom initiative that educates 6th graders on gaps in their understanding of American history. The expansion will increase the number of participating students from 3,000 to 30,000 annually.

Participating NYC public school students will receive a DTG Freedom Pass, which provides one year of family-level membership access to the Historical.

The Sculpture Court

The project also included renovations to more than 30,000 square feet of existing museum space. A sculpture court provides a quiet area for relaxation or special events, while a new rooftop terrace offers views of Central Park. The project pursued LEED Gold certification and includes HVAC equipment designed to reduce energy consumption.

The rooftop terrace

The fourth floor will host the first permanent home for the American LGBTQ+ Museum, building on a partnership that began in 2019. A year-long study engaging more than 3,200 LGBTQ+ people nationwide found widespread support for the museum. Officially announced in July 2021, the space is expected to open in 2028.

“New York’s cultural institutions tell our stories, strengthen our communities and power our tourism economy,” Gov. Kathy Hochul said.

“For more than two centuries, the New York Historical has preserved the history of our state and nation, and the new Tang Wing will ensure that millions of visitors, students, scholars and families can continue to learn from that history for generations to come,” she added.

The project received $9.25 million from Empire State Development, along with $5 million from the New York State Council on the Arts.

“This tremendous achievement will expand and elevate the discussion of our nation’s history for generations to come,” Erika Mallin, executive director of the State Council on the Arts, said. “For over 200 years, the New York Historical has continued to inspire learners of all ages, celebrating our triumphs and examining our struggles.”

“The Tang Wing for American Democracy continues that commitment to our rich and complex history, ensuring every American can walk through these doors and find themselves represented here,” she added.

To mark the new wing’s opening, the Historical is offering expanded hours until 8 p.m. on Thursdays through Saturdays through July 4. Admission during these hours will be pay-as-you-wish from 5 p.m. to 8 p.m.

The museum is also offering a range of special programming and family activities to commemorate the new wing. “Songs of America” brings a lineup of live music from across American history to the museum in collaboration with Jazz at Lincoln Center, with performances free with pay-as-you-wish admission during expanded hours through July 4.

A rare copy of the Declaration of Independence, which has been in the museum’s possession for generations, will be on temporary view through July 5. One of the few broadside printings of the document, it lacks the printer’s name, though it is believed to have been printed in the aftermath of July 4, 1776.

On June 28, historian and author Doris Kearns Goodwin will lead “Leadership for a More Perfect Union: Lessons from America at 250.” The event will be held in person and streamed online. Tickets start at $30 for members and $40 for nonmembers.

Festivities conclude on July 9, the anniversary of the date when the Declaration of Independence was read aloud to New Yorkers.

Upon hearing the declaration, soldiers and colonists famously pulled down a statue of King George III in Bowling Green. At the Historical, guests of all ages will be invited to watch as a life-size replica of the statue is ceremonially pulled down, with fragments of the original statue on view as well.

“The opening of the Tang Wing for American Democracy marks a defining milestone for New York’s first museum as we commemorate the nation’s semiquincentennial,” Dr. Louise Mirrer, president and CEO of the New York Historical, said.

“This inaugural program invites the public to engage with the ongoing evolution of our democracy through exhibitions, live music, and family friendly activities. We’re thrilled to offer our visitors expanded hours and pay-as-you-wish admission during this moment of reflection and commemoration of our nation’s continuing story.”

RELATED:

The post New York Historical opens $175M democracy wing designed by Robert A.M. Stern Architects first appeared on 6sqft.

This post was originally published here

New home sales pulled back in May as elevated mortgage rates, sticky inflation and consumer uncertainty again tested the upper limit of what buyers can afford, the latest U.S. Census and HUD report shows.

Sales of newly built single-family homes fell 7.3% from April to a seasonally adjusted annual rate of 580,000 units, according to the U.S. Census Bureau and the Department of Housing and Urban Development. That pace was 6.8% lower than in May 2025, the National Association of Home Builders’ Eye on Housing blog reported.

For builders and their lenders, the data confirms that demand is highly rate-sensitive and that the industry is still operating in an affordability-constrained, not inventory-constrained, environment. The pullback also complicates land and spec strategies heading into 2027 pipelines, particularly in the South and West where production is most concentrated.

Inventory climbs, but not to a healthy balance

Total new single-family inventory in May was 496,000 units, up 2.3% month over month but 1.4% lower than a year earlier. At the current sales pace, that translates to 10.3 months of supply, up from 9.7 months a year ago and well above the 5 to 6 months that typically signals a balanced market.

By contrast, when new and existing home inventory are combined, total months’ supply is 5.2 months, Eye on Housing noted, as resale listings have gradually improved. That widening gap between new and existing inventory underscores why builders have been forced to lean on incentives and rate buydowns while still managing starts carefully.

On a not seasonally adjusted basis, there were 115,000 completed, ready-to-occupy new homes available at the end of May, unchanged from a year earlier. Completed homes accounted for roughly 25% of total new home inventory, while homes under construction represented 53%. About 24% of homes sold had not yet started construction when contracts were signed.

Why this matters: A 10.3-month new-home supply number might suggest oversupply at first glance, but the product is heavily skewed toward higher price points and under-construction units. Builders and capital providers need to read this as a warning against overextending on speculative luxury offerings rather than a signal to sharply cut overall production.

Prices stay firm, but the entry-level is still missing

Despite weaker sales, prices have not cracked in a meaningful way. The median new home sale price was $424,900 in May, up 2% from April and essentially flat year over year.

Sales were concentrated in the middle price tiers:

  • 50% of new-home sales were priced between $300,000 and $499,999
  • Only 15% were priced below $300,000
  • The remaining 35% were priced above $500,000

This distribution underlines the long-running structural issue: the industry has not been able to profitably produce enough homes under $300,000, especially in higher-cost regulatory and labor markets. With rates still elevated, the absence of a true entry-level product segment keeps many first-time buyers sidelined and forces move-up buyers to trade down in size or location to make payments work.

For builders and developers: The flat median price in the face of weaker sales suggests that most operators are still defending margins through incentives rather than cutting base prices. Over the next few quarters, maintaining this posture will require continued value engineering, smaller footprints, and using attached or higher-density product where zoning allows.

Regional story: Weakness concentrated in the big production regions

Regional performance in May was mixed, but the biggest pain is still in the regions that matter most for volume.

Month over month:

  • Midwest: Sales rose 16.2% from April
  • Northeast: Sales increased 3%
  • South: Sales declined (exact count not provided, but down on the month)
  • West: Sales dropped 26.9%, the sharpest monthly decline

Compared with May 2025:

  • Northeast: Up 17.2% year over year
  • Midwest: Down 3.7%
  • South: Down 5.4%
  • West: Down 17%

On a year-to-date basis, the pattern remains similar. New home sales were up 4.2% in the Midwest and 1.9% in the Northeast. They were down 8.2% in the South and 11.4% in the West, meaning the weakness is concentrated in the nation’s largest homebuilding regions.

Why this matters for builders and land players:

  • In the West, the year-to-date 11.4% decline, combined with the sharp 26.9% May drop, supports tighter specs, slower land takedowns and more aggressive use of buydowns on surviving projects. It also raises pressure to pivot to smaller, more attainable formats where local codes allow.
  • In the South, demand is still there but more rate-sensitive. Builders may need to moderate start volumes, particularly in outer-ring suburban locations where commute cost plus rate cost stretches affordability.
  • The Midwest and Northeast data reinforce why national builders have been shifting more capital into these regions: comparatively lower price points, less extreme pandemic-era price inflation, and more resilient demand profiles.

What this means for strategies in the back half of 2026

The May numbers reinforce several practical takeaways for homebuilders, their lenders and investors:

  1. Affordability, not demand, is the constraint. The quick reaction of sales to rate and inflation movements shows there is substantial latent demand, but buyers are at the edge of their payment capacity. Product design and incentive structures, not just more marketing, will determine who wins share.
  2. Spec strategy needs to be region-specific. A 10.3-month national new-home supply figure masks wide regional differences. Overbuilding in the South and West is a bigger risk than in the Midwest and Northeast, where the data supports a measured but ongoing appetite for starts.
  3. Entry-level and attainably priced move-up remain the growth lanes. With just 15% of sales under $300,000, builders who can profitably deliver below that line — through smaller lots, townhomes, duplexes or value-engineered detached product — have a clear competitive opening, especially in FHA and VA buyer segments.
  4. Lenders should stress-test absorption assumptions. The shift from roughly balanced total inventory (5.2 months) to elevated new-home-only supply means absorption risk is creeping up on some new-home-heavy portfolios, especially in Western markets. Loan structures and covenants will need to reflect that.

For now, the Census data suggests a market that is cooling at the margins rather than collapsing — one where builders who manage price points, incentives and regional exposure with discipline can still grow, but where assuming 2021-style absorption or appreciation will be increasingly costly.

This post was originally published on here

The Landmarks Preservation Commission on Tuesday reviewed a proposal to make a Morris Adjmi-designed Soho project larger in exchange for nearby subway station upgrades. United American Land released plans in 2023 to build a 13-story building with 100 apartments at 277 Canal Street, which the city’s Landmarks Preservation Commission approved that year. The revised plan presented to the LPC on Tuesday calls for a 21-story building with 159 units, made possible if granted a floor area bonus from the city in exchange for accessibility upgrades to the Canal Street subway station. The commission sent the 277 Canal team back to the drawing board after some commissioners took issue with the building’s increased height.

Also known as the Oltarsh Building and alternatively addressed as 422 Broadway, the three-story structure was built in 1927 as a theater and has since housed a variety of retailers. The building sits at the corner of Canal and Broadway in the Soho Cast Iron Historic District, directly above the Canal Street station.

UAL tapped Morris Adjmi to design the project for his reputation of taking a “respectful approach” to historic districts, as 6sqft previously reported.

The project’s first iteration called for transforming the building into a 13-story mixed-use structure with 100 housing units, 25 percent of them designated as affordable under the city’s Mandatory Inclusionary Housing program.

Adjmi retained the historic building’s existing red brick facade and ensured a “contextually designed” exterior using brick, metal, and terracotta materials.

Following a June LPC hearing in which the commission recommended a series of revisions, Adjmi increased the cornice depth and profile to emphasize the building’s crown, addressing feedback that also called for signage to be “more playful” and reflective of Canal Street.

Since its initial approval, UAL has proposed expanding the building using the city’s Zoning for Accessibility (ZFA) program. Created in 2021, the program offers developers density bonuses of up to 20 percent or easements that can increase project size in exchange for funding accessibility upgrades at nearby transit stations.

The developer now seeks to increase the project’s height, adding 18 stories atop the existing Oltarsh Building instead of 10. The proposal includes roughly 139,370 square feet of residential space and 6,510 square feet of retail.

The transit improvement bonus would allow the developer to build 159 total apartments, 31 of which would be made affordable.

Existing conditions of the Canal Street station entrance.
Proposed modifications to Canal Street station entrance.

In exchange for the density bonus, UAL would upgrade the Canal Street station, served by the N, Q, R, and W trains. The proposed modifications would relocate the center bay entrance to the northern bay, making room for an elevator that provides direct access to the platform.

They would also create a new fare control area and mezzanine connecting to the platform, doubling the size of the current easement area.

In Tuesday’s LPC presentation, the applicants argued that the existing building is not representative of the key period of significance for the broader historic district, which is primarily characterized by 19th-century cast-iron storefront and loft buildings.

Defending the height increase, they said that because the structure was originally designed as a theater—a use that does not relate to the district’s commercial and manufacturing history—and because its height does not define its typology, a large vertical extension would not detract from the building’s architectural style or the character of the historic district.

Additionally, the team pointed to other projects in the district that set a precedent for vertical building extensions constructed “in plane” with the original building base.

Finally, they noted that Broadway and Canal Streets are wider than other corridors in the district and feature corner buildings that are significantly larger than those on side streets, allowing taller heights to fit within the scale of the surrounding streetscape.

However, the substantial increase in the project’s height proved to be a major sticking point for some LPC commissioners. Although many commissioners approved of the project in principle, the LPC ultimately took no action and said additional modifications to the building’s height would be required in order to gain approval.

Commissioner Michael Goldblum began discussion following the hearing, calling it a “really interesting project” that he could accept “nearly as it is,” except for a few alterations to its height and shaft continuity.

“The floor increase on the upper floors, except for the top three, is gratuitous and doesn’t add to the experience of the building,” Goldblum said.

“It wouldn’t hurt anybody to knock off those extra six or seven feet off the building. I would suggest that they regularize the floors. I think that you could keep the top three floors to have a different height, but I think the shaft should be continuous,” he added.

Vice Chair Angie Masters said that while she was “compelled” by previous arguments from the applicants to consider the need for additional affordable housing in the project’s expanded height, the presentation lacked enough information and detail to justify the vertical extension.

“The crux of this is the vertical height. That is what should’ve been emphasized in the design,” Masters said. “I know that it is on the boundary of a historic district and there are other buildings in the neighborhood that might be comparable, but for me, that really needs to be emphasized, given that, going through the public testimony, there were a lot of concerns about the height.”

“I think that a taller building here could certainly be justified, but I’m not sure that we have the story yet to justify it,” she added. “I’m willing to be flexible, even if it’s taller than anything else in this historic district, but I think we do need a little more justification here.”

LPC recommended the design return at a later date after considering recommendations regarding the building’s height.

RELATED:

The post Morris Adjmi’s Soho tower could rise to 21 stories in exchange for Canal Street subway upgrades first appeared on 6sqft.

This post was originally published here

Israeli highways reopened Wednesday evening after haredi (ultra-Orthodox) demonstrators blocked highways 1 and 4 in mass nationwide anti-IDF draft protests.

N12 News announced that the protests concluded after thousands of haredim, including MK Yitzhak Goldknopf (United Torah Judaism) and MK Michael Malkieli (Shas), participated in Wednesday’s demonstrations, which lasted over four hours.

Earlier on Wednesday, Israel Police observed protesters exiting their vehicles at Harel Interchange on Highway 1 and entering traffic lanes on foot. Officers noted that this was contrary to the agreed-upon method of protest with the organizers and have since deemed the protests illegal. 

Heavy traffic was also reported on 28 other major roads, according to Maariv.

Highways 2, 6, 7, 20, 40, 41, 57, 65, 70, 443, 444, and 531 also experienced heavy traffic disruptions related to the protests.

According to organizers, the convoys traveled along major routes, including highways 1, 4, and 6; the Aluf Sadeh Interchange and the Ganot Interchange in the Center; Bar Ilan Street and the Chords Bridge area in Jerusalem; and the Elad Junction.

The convoys departed from Jerusalem, Elad, Ashdod, Tiberias, Betar Illit, Beit Shemesh, Bnei Brak, Givat Ze’ev, Haifa, Hatzor Haglilit, Modin’in Illit, Nof Hagalil, Netanya, Arad, Safed, Kiryat Gat, and Rehovot.

Traffic halts as haredi protests begin across Israel, June 24, 2026. (credit: Marc Israel Sellem)

Vehicle convoys departed from dozens of locations for the demonstration, which was organized by Agudat Yisrael, part of the UTJ Knesset faction, as other groups within the haredi community, including the Jerusalem Faction (Peleg Yerushalmi), are expected to join the widespread protest on major roads and highways.

Channel 12 also reported that protesters in Ashdod blocked a bus carrying IDF soldiers. 

Violent scuffles break out at ultra-Orthodox anti-draft protests

Footage emerged earlier on Wednesday of several physical altercations between haredi protesters and passersby. In one fight, a passerby attempted to prevent a demonstrator from blocking a road.

In Arad, protesters and local secular citizens scuffled. In one video seen on social media, a secular citizen of Arad can be seen trying to whip draft protesters with what appears to be a phone charger. 

According to Maariv, Deputy Mayor of Beitar Illit and Chairman of the Hasidic faction, Rabbi Gedaliyahu Eisenstein, was among those attacked at the incident in Arad. 

Arad Mayor Yair Maayan then called on residents to “act with restraint and mutual respect, and to refrain from violent activity among residents.”

In a separate incident, a pregnant woman was seriously injured on Highway 1 after her vehicle hit a protester’s vehicle, Israeli media reported.

In another video, an Israel Police officer physically confronted haredi protesters after they blocked a tunnel, causing major traffic delays.

Additional haredi draft evader protests could break out well into the evening

Police sources do not rule out the possibility that the haredi Jerusalem Faction may also attempt to hold impromptu protests this evening, in light of an unofficial message circulating on social media.

The stated goal of the protest was to bring about the “immediate release of all detainees of the Torah world,” to halt the arrests, and to revoke what they define as “decrees against Torah students and their families,” according to a statement released by the organizing committee. 

“We will not sit idly by while our brothers are behind bars for the crime of studying Torah,” the statement added. 

The convoy organizers called on the haredi public and its supporters to join the protest, which they said was intended to send a sharp message to the government and the defense establishment regarding enlistment policy.

Sources in the defense establishment maintain that this is the enforcement of existing law, as determined by government decisions and court rulings.

This post was originally published on here

US Central Command (CENTCOM) killed a “senior ISIS leader” in a Friday airstrike in northwest Syria, CENTCOM confirmed on Wednesday.

The “leader” was identified by CENTCOM as “Ali Husayn al-‘Ulaywi.”

The Pentagon stated that Ulaywi was killed as part of “ongoing US efforts” to disrupt and kill terrorists who are “seeking to attack Americans abroad or the US homeland.” CENTCOM is working “alongside regional partners” in order to achieve these goals, it said.

“CENTCOM and our partners remain committed to rooting out remaining remnants of ISIS to ensure its enduring defeat,” CENTCOM Chief Adm. Brad Cooper said.

“We will continue to defend the US homeland, our service members, and allies and partners across the region,” Cooper added.

Treasury Department’s OFAC designates Islamic State-linked financial networks, facilitators

Meanwhile, the US Treasury Department’s Office of Foreign Assets Control (OFAC) designated three individuals and six entities across Europe, the Middle East, and West Africa for “facilitating financial transactions on behalf of ISIS,” OFAC announced on Monday.

This includes France-based Miloud Abderrahmane, who conducted transactions with known ISIS-affiliates, including in Syria, as well as providing “instructional and manufacturing information on explosives” to ISIS supporters, OFAC stated.

Former Dutch national, Abdelhakim Boukich, was also sanctioned by OFAC. Boukich is based in Syria, and “controls and directs Bitcoin Xchange,” which OFAC describes as a “Syria-based money service business” that is used to transfer money from various Western countries, including the US and the Netherlands, to ISIS terrorists, OFAC said.

Additionally, the Treasury Department sanctioned Nigeria-based Islamic State terrorist Mukhtar Adamu Muhammad, who facilitated money transfers on behalf of Islamic State West Africa Province (ISWAP).

This post was originally published on here

Pro-Israel candidate Adrian Boafo won Maryland’s Democratic primary to fill longtime Rep. Steny Hoyer’s seat on Tuesday, after waging a campaign supported by the American Israel Public Affairs Committee at a time when other members of his party are disavowing the pro-Israel lobbying group.

Boafo, 32, is a state delegate who entered the contest with low name recognition. Hoyer hand-picked his former staffer, who managed some of Hoyer’s recent campaigns. 

The octogenarian worked hard to get his protege past the finish line in Maryland’s 5th Congressional District, garnering the support of much of the state’s Democratic establishment and appearing in an ad for him. Hoyer, who was for decades the number two Democratic leader in the House, is a staunch Israel advocate and AIPAC ally who will retire this January after 45 years.

Boafo won with 32% of the vote in the crowded Democratic field, with 68% of votes counted on Wednesday morning. AIPAC poured $5.7 million into his campaign through its super PAC, United Democracy Project.

As Mamdani’s three New York candidates sweep, Boafo’s victory offers hope for pro-Israel Democrats 

Boafo thanked his supporters and Hoyer late Tuesday night and said that he was Hoyer’s natural successor. “At first glance it might not seem obvious, but our stories are actually very similar,” he said. “Steny and I are both the sons of immigrants. We grew up believing in an America that drew our parents from across the sea.” Boafo’s parents are Ghanaian and Hoyer’s father was Danish.

His victory offered a glimmer of hope to the party’s pro-Israel wing, coming on the same night that three progressives who ran hard against AIPAC and the war in Gaza swept New York’s primaries, toppling powerful pro-Israel Democrats. Boafo sent a message that AIPAC still has the power to buoy Democratic candidates even as criticism of Israel surges in the progressive wing of the party and the Democratic electorate. The lobby, once seen as a necessary bipartisan stamp of approval, has become a stand-in for Israel’s influence on U.S. politics.

Boafo pledged during the campaign to “strengthen the US-Israel alliance” and “mobilize humanitarian aid for Palestinian civilians,” as well as to “ensure Israel has the security assistance it needs.” Military aid packages to Israel have increasingly divided Democrats amid the deeply unpopular wars fought by Israel in Gaza and Iran.

AIPAC celebrated Boafo’s victory on Tuesday night. “Boafo has made clear his vision to carry forward the strong pro-Israel legacy of Congressman Steny Hoyer, one of Congress’s most steadfast champions of the U.S.-Israel relationship,” the group said on X, adding that it was proud to “help ensure this seat remains represented by pro-Israel leadership.”

Boafo also benefited from crypto money. Protect Progress, a super PAC affiliated with the crypto industry, spent $5.5 million on the race largely to boost Boafo, who previously worked as a federal lobbyist for the technology firm Oracle.

Some Democrats have taken a stand against AIPAC spending 

The deluge of outside spending sparked a rebuke from Boafo’s opponents during the race. Candidates Harry Dunn, Quincy Bareebe and Rushern Baker teamed up to denounce the outlays last week, with Baker saying on a press call, “Special interests don’t spend money out of civic goodwill. They spend the kind of money that we see because they expect someone to work for them.”

Maryland Democratic Sen. Chris Van Hollen also criticized the spending this month and accused the pro-Israel and crypto groups of attempting to “buy this congressional seat.” 

“Voters need to understand that these groups are not investing in this race out of charity,” Van Hollen said in a press conference this month. “They are spending because they believe the beneficiary of their spending — in this case, one candidate, Adrian Boafo — will be a dependable vote in support of their special interests.”

Boafo will face small business owner Chris Chaffee, the winner of the Republican primary, in November’s general election. Boafo is all but assured to win the deep-blue district.

This post was originally published on here

US Secretary of State Marco Rubio arrived in the United Arab Emirates on June 23. During his visit, he made an important statement about the role of Iranian-backed militias in Iraq. The statement was posted by the Department of State and other accounts linked to the US administration. By calling out Iraq, he is sending an important message. The United States wants Iraq to rein in the militias.

“You can’t have the end of hostilities and conflict in the region as long as Iranian proxies are launching missiles and drones from Iraq and are participating in terrorism… It is an issue that will be gotten to at the appropriate time in these negotiations,” Rubio said. Kurdish media in the Kurdistan autonomous region of northern Iraq also noted the comments.

The US has been increasing pressure on the Iranian-backed militias in Iraq. Washington has used a combination of sanctions, terrorist designations, and rewards for information on militia leaders.

The campaign has targeted some of the most powerful armed groups within Iraq’s Popular Mobilization Forces as the US seeks to deter attacks on American personnel and facilities. The PMF has dozens of militias within it. Many are linked to Iran, and they are composed of Shi’ite fighters. They received more support when the PMF became an official Iraqi paramilitary group in 2018.

The militias were also boosted in 2014, during the war against ISIS. Some of them are historic, such as the Badr Organization. Some were founded more recently.

US previously sanctioned PMF-related commanders, placed bounties in the millions of dollars

In April 2026, the US Treasury sanctioned commanders linked to Kataib Hezbollah, Asaib Ahl al-Haq, Kataib Sayyid al-Shuhada, and Harakat Hezbollah al-Nujaba. The sanctions followed months of militia attacks in Iraq. Treasury Secretary Scott Bessent said the US would not allow Iran-backed militias to threaten American lives or interests.

Meanwhile, the US State Department’s Rewards for Justice program unveiled a series of bounties. Rewards of up to $10 million were offered for information on Kataib Hezbollah leader Ahmad al-Hamidawi, Kataib Sayyid al-Shuhada leader Abu Ala al-Walai, Harakat Ansar Allah al-Awfiya leader Haydar al-Saidi, and Harakat al-Nujaba leader Akram al-Kabi.

Rubio calling out Iraq and Iranian proxies there is important. These groups have threatened the Kurdistan Region, attacked Americans, and kidnapped a US journalist and a Princeton researcher; they have attacked Saudi Arabia and Kuwait, as well as Israel, Jordan, and Syria. In January 2024, for instance, Kataib Hezbollah attacked Jordan and killed three American service members. 

This post was originally published on here

A little more than a year ago, thousands showed up for the annual Paul Feig z”l Tikkun Leil Shavuot at the Marlene Meyerson JCC Manhattan, an all-night bonanza of eclectic Jewish learning. The program featured dozens of rabbis, scholars, journalists and artists. Yet the unquestioned star of the night was Ritchie Torres, the congressman from the Bronx who has become a beloved figure in the pro-Israel community.

Hundreds packed the gym to hear from Torres, with many others turned away at the door. Eventually the discussion turned to the upcoming mayoral primary that was just weeks away. Many in the crowd were alarmed by the surging popularity of Zohran Mamdani, but still skeptical that a staunchly anti-Israel lawmaker could be elected in the city with the world’s largest Jewish community outside of Israel.

Instead of reassurance, Torres, who was backing former New York Gov. Andrew Cuomo in the mayoral primary, issued a warning: If Mamdani pulled off his improbable upset, it would quickly become open season on pro-Israel Democrats like himself.

As it turned out, Torres didn’t have to worry. He won his primary race Tuesday night in a landslide, securing around 70% of the vote in New York’s 15th Congressional District against an anti-Israel challenger. But his prediction was still spot on: The primaries were a Mamdani wave, with all three of the mayor’s endorsed congressional candidates winning their primaries – and knocking off two solidly pro-Israel incumbents, Dan Goldman and Adriano Espaillat, in the process.

Many districts are staunchly pro-Israel, but backing the Jewish state as a politician is no longer easy

In November, Mamdani’s ascension to City Hall felt like a political earthquake, putting an exclamation point on the reality that being staunchly anti-Israel was no longer a road block to success in Democratic politics. Yet Tuesday’s results feel more seismic – this is the first time that incumbent congressmen have lost their seats in campaigns in which they were repeatedly attacked for being too supportive of Israel.

Whatever other issues were at play in the individual races, the success of candidates with an outsized focus on criticizing the Jewish state and groups that support it – in particular, the American Israel Public Affairs Committee – sends the message that their approach is a winning strategy.

There are still plenty of districts where Democrats can win with pro-Israel positions and pro-Israel support, for example the congressional seat being vacated in Maryland by pro-Israel stalwart Steny Hoyer. Hoyer’s pick to succeed him, Adrian Boafo, won Tuesday in a crowded 24-candidate primary with major backing from AIPAC.

But suddenly, for a widening swath of the Democratic congressional caucus, backing Israel has gone from being the politically safe move to a potential career-ender.

Goldman, who won his first reelection primary with about 65% of the vote in 2024, ended up on the wrong side of a similar landslide this time around in his race against former City Comptroller Brad Lander. Espaillat, who has served in Congress for nearly a decade and is chair of the Congressional Hispanic Caucus, lost to Darializa Avila Chevalier in New York’s 13th Congressional District, which includes Upper Manhattan and parts of the Bronx.

Following Mamdani’s lead, Lander and Avila Chevalier both sought to turn their opponent’s support for Israel into a defining moral failure and painted backing from AIPAC as the dictionary definition of being in the pocket of special interests.

Lander kicked off his campaign by making clear he wouldn’t be “doing AIPAC’s bidding” and made Goldman’s support from the pro-Israel lobby group a central issue throughout the campaign. Though Lander describes himself as a liberal Zionist, he repeatedly accused Israel of committing genocide in Gaza and promised to oppose US weapons sales to Israel.

Just last year, Cuomo and then-Mayor Eric Adams thought Mamdani’s stance on the Jewish state was a major political liability, so they did all they could to play up his anti-Israel bona fides in their race against him.

In a sign of how quickly the political winds have shifted in New York, Goldman this spring sought to minimize his differences with Lander on Israel, noting that they both received endorsements from J Street, the dovish group that advocates for more US pressure on Israel to achieve a two-state solution. Goldman, in the final debate, even offered his own criticism of AIPAC, saying the pro-Israel group “has some real problems and is harmful in many ways.”

In contrast, Espaillat took aim at Avila Chevalier on Israel. “She went to celebrate the death of innocent people in Israel right after the attack,” Espaillat said during a recent televised debate, referencing her participation in an anti-Israel rally, which the Democratic Socialists of America had promoted, the day after Hamas’ Oct. 7, 2023, attack.

Like Mamdani, Avila Chevalier’s early anti-Israel activism was a key aspect of her political biography: She was part of the Students for Justice in Palestine group during her years as an undergraduate at Columbia University and later helped organize the school’s pro-Palestinian encampment as an alumna in 2024. During the campaign, she criticized Espaillat for his response to the detainment of Columbia University encampment leader Mahmoud Khalil, whose arrest last year became a rallying point for pro-Palestinian activists.

Anti-Zionism seems to be sticking with voters, this years’ elections show

What should really alarm the pro-Israel community, however, is that this progressive playbook contributed to victories in two very different races. In the case of Lander versus Goldman, you had two Jewish self-described Zionists running in a very Jewish district. Avila Chevalier, on the other hand, was a non-Jewish anti-Israel challenger taking on a non-Jewish incumbent with strong pro-Israel credentials in a district with relatively few Jews (at least by New York’s standards).

As Mamdani’s handpicked squad heads to Washington, the pressure on other congressional Democrats to speak out strongly against Israel and back measures such as end to US arms sales will only intensify. That was clear from the election night victory speeches.

During Avila Chevalier’s speech, the crowd erupted into cheers of “Free Palestine.” She couched her victory as a rejection of funding from AIPAC, crypto and other corporate interests.

Lander promised in his victory speech to be “one of the Jewish members of Congress most willing to stand up loud for Palestinian human rights.”

“We cannot keep paying for Netanyahu’s wars with our tax dollars,” he added. “Democratic voters across the country are saying this loud and clear.”

It’s possible that Lander’s wrong and that Mamdani’s rise and coattails are an only-in-New York thing. But based on several other results this election cycle and polling in upcoming races, that hope increasingly feels like betting against the Knicks.

For the pro-Israel community, there’s at least one bright spot: At least for now, they still have Ritchie Torres.

This post was originally published on here

NEW YORK — A judge temporarily blocked federal prosecutors in Texas from getting access to the medical records of transgender patients treated at New York hospitals on Wednesday, saying they were part of an improper government effort to “demonize and eradicate an entire population of transgender” people.

Judge Katherine Polk Failla ruled a day after hearing oral arguments in Manhattan, calling the government’s pursuit of the most sensitive medical records of a “uniquely vulnerable group” of patients treated over a six-year period to be “most egregious” and unconstitutional.

Read the rest…

This post was originally published here

Small investors accounted for nearly one-third of single-family home investor purchases in the United States in 2025, the highest share in 15 years, while large institutional investors continued to retreat, according to a June 23 Realtor.com Investor Report.
Meanwhile, investor purchases in the housing market remained steady.
“The investor market has found a new equilibrium,” Realtor.com senior economist Hannah Jones said in the report. “The dynamics shaping competition in entry-level housing are shifting—but that competition hasn’t gone away, particularly in affordable Midwest and Sun Belt markets.”
The data show that investors of all sizes scooped up 11.3 percent of all home purchases in 2025—an uptick from 11 percent in 2024. Nearly 534,000 homes were bought by investors last year, representing a 0.7 percent year-over-year increase. However, investors sold just 442,000 properties—a 1.5 percent decline from 2024….

This post was originally published here

With his time in Washington running out, Republican Sen. Bill Cassidy of Louisiana is making a final push to address Social Security’s looming funding crisis before automatic benefit reductions affect millions of Americans.

The urgency stems from a warning issued by the program’s trustees earlier this month. On June 9, trustees projected that the Old-Age and Survivors Insurance Trust Fund could be depleted by late 2032, at which point Social Security would be able to pay only about 78% of promised benefits unless Congress acts.

In an interview published Tuesday, Cassidy argued that lawmakers can no longer afford to delay.

“The longer we wait, the harder the solution becomes,” he warned.

Cassidy’s effort comes as he enters the final months of his Senate career.

The Louisiana Republican lost his primary election earlier this year to a Trump-backed challenger and will leave office when his term expires on January 3, 2027. With retirement approaching, Cassidy is taking on one of Washington’s most politically sensitive issues.

Social Security remains one of the nation’s most relied-upon programs, with surveys showing approximately 88% of Americans expect to depend on benefits during retirement.

Cassidy’s proposal, which he has dubbed the “Big Idea,” would create a government-backed investment fund designed to generate long-term returns capable of helping close the program’s financing gap.

Under the outline, the federal government would borrow approximately $1.5 trillion over five years — about $300 billion annually — and place the funds into a separately managed investment portfolio holding stocks and bonds.

The investment returns would then be used to help support future Social Security obligations.

Cassidy has compared the concept to sovereign wealth funds operated by countries such as Norway and to the investment structure used by the pension system serving U.S. railroad workers.

Unlike many proposals frequently discussed in Washington, Cassidy’s plan does not rely primarily on benefit reductions or payroll tax increases.

Instead, it attempts to generate additional investment income to help offset demographic pressures that continue weighing on the system.

Those pressures are significant.

Approximately 10,000 baby boomers reach retirement age each day, while birth rates have declined and Americans are living longer than previous generations. When Social Security was created in the 1930s, average life expectancy was approximately 62 years. Today it approaches 80 years.

As a result, fewer workers are supporting a growing number of retirees receiving benefits for longer periods.

Trustees estimate that without legislative action, Social Security recipients could face automatic benefit reductions of roughly 22% to 23% once the trust fund becomes depleted.

Despite the urgency, Cassidy faces long odds.

The proposal remains an outline rather than formal legislation, and any major Social Security reform would likely require bipartisan support and at least 60 votes in the Senate.

Cassidy has been working with a bipartisan group that includes Democratic Sens. Dick Durbin and Tim Kaine, along with Republican Sen. Thom Tillis. Several members of the group are also leaving the Senate, adding further uncertainty to the effort.

Political disagreements remain substantial.

Many Democrats support increasing taxes on higher-income earners to strengthen Social Security finances. Many Republicans favor raising the retirement age. Cassidy opposes increasing the retirement age and instead continues promoting the investment-fund approach.

Critics have raised concerns of their own.

Borrowing $1.5 trillion to invest in financial markets would introduce market risk into a program traditionally funded through payroll taxes. Some economists also warn that borrowing at that scale could place upward pressure on government borrowing costs and bond yields.

Cassidy acknowledges that investment gains alone would not fully eliminate the funding shortfall. Additional reforms would likely still be required.

Even so, he argues that beginning the process now is preferable to waiting until benefit cuts become unavoidable.

Whether Congress embraces the proposal remains uncertain.

But with Social Security’s funding challenges moving closer and Cassidy’s Senate career nearing its end, the Louisiana senator is making one final effort to force a conversation Washington has spent years avoiding.

JBizNews Desk | New York
© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

New home sales tanked this morning and had a slightly lower negative revision. But the bigger story is that demand is the main reason housing construction hasn’t been growing for years, and we simply have too much completed supply for sale for construction growth to ramp up. Let’s remember this lesson as we are on the verge of seeing the ROAD to Housing Act signed into law: builders need more demand to get housing construction going.

Let’s take a look at the report today.

From Census: New Home Sales: Sales of new single-family houses in May 2026 were at a seasonally-adjusted annual rate of 580,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 7.3 percent (±13.3 percent)* below the April 2026 rate of 626,000, and is 6.8 percent (±12.8 percent)* below the May 2025 rate of 622,000.

The new home sales sector hasn’t really gone anywhere for years. We get a few positive reports that grow sales for a few months and then a few that take sales lower but when you look at the chart of new home sales over the past 10 years, we have basically been stuck in a sales channel range for a long time. The builders have done their best to sell homes using their profit margins to buy down mortgage rates. Imagine if they didn’t have that option — sales and housing construction would be worse today.

chart visualization

Now, if new home sales start to tank more from this level, then my key economic labor data, residential construction labor, will take a bigger hit, and when we look at previous economic cycles, it’s never a good thing when this labor pool starts to fall.

So, given the demand data above, it’s not surprising that the chart below shows a negative trend in housing permits and starts for years now.

chart visualization

One slightly positive note

My theme forever has been that the builders aren’t the March of Dimes so they need to make money and make sure supply doesn’t surge on them. Historically, they really pull back on building if completed units for sale exceed 120,000. Here is the January of every year going back decades, which illustrates this point.

chart visualization

Now, in this report, we see a bit of progress here — the completed units for sale is not growing anymore but slowly moving lower. If we can get new home sales growing again, then we can get the chart below falling and more housing permits will be issued.

chart visualization

Conclusion

This report shows more of the same when it comes to new home sales, but the fact that completed units for sale aren’t growing is a positive sign that if mortgage rates can just get low enough to create more consistent demand, then we can build more homes again. The best way to deal with inflation in the long term is always supply; demand destruction is a short-term tool, not a good long-term one.

This post was originally published on here

More than 1 in 10 primary listing photographs on the nation’s four largest real estate portals show evidence of digital alteration — and over 90% of those images carry no visible disclosure, according to a new study.

The analysis by real estate intelligence platform Coraly examined just under 40,000 primary listing images from Zillow, Redfin, Realtor.com and Homes.com during the first quarter.

Researchers found that 10.8% — 4,330 images — showed indicators of digital manipulation, ranging from sky replacement to virtual staging and object removal.

Sky replacement alone appeared in 69% of altered images, making it the single most common editing technique.

Findings arrive as California Assembly Bill 723, which took effect Jan. 1, requires licensed real estate brokers and salespersons to conspicuously disclose digitally altered images and provide access to original, unaltered versions.

The law, among the first known real estate specific statutory disclosure obligations for altered listing images, applies to licensees rather than the portals that distribute listings.

Alterations focus on exteriors

Data shows that editing concentrates heavily on exterior photography, where 13.1% of images showed alteration, compared with 4.5% for interior shots — a nearly threefold gap.

Living rooms and bedrooms followed at 6.4% and 5.9%, driven overwhelmingly by virtual staging. Kitchens registered 0.7% alteration, while bathrooms showed effectively zero across all four portals.

“The split is consequential for policy: a manufactured sky carries a different risk profile than a concealed defect,” the report stated.

Among the four portals, Homes.com had the highest alteration rate at 12.4%, followed by Redfin at 11.2%, Zillow at 11.0% and Realtor.com at 8.7%.

Researchers cautioned that differences between portals may reflect listing mix, MLS feed composition, agent demographics or platform AI tool deployment rather than portal policy.

Virtual staging, object removal raise concerns

Virtual staging — the digital insertion of furniture and decor — appeared in 10% of altered images.

The study found that 88.8% of staged images were applied over existing furnished spaces.

A smaller but higher-risk category involved object removal, accounting for 1.5% of altered images. Researchers identified 66 images where items such as satellite dishes or utility meters had been digitally removed.

Coraly identified 218 images that appeared to be CGI renders or architectural imagery presented as real property photographs — characterized as “the most extreme consumer experience gap category.”

Compliance gap attributed to workflow, not will

More than 90% of altered images showed no visible disclosure language on the image itself, in captions, listing descriptions or adjacent text, according to the study.

Researchers characterized the compliance gap as “not a will problem, but a workflow problem.”

“An agent engages a photographer who delivers JPEGs with no metadata, no record of what was altered,” the report said. “The original files stay on the photographer’s hard drive — sometimes deleted after delivery. The agent often cannot comply — not because they are unwilling, but because the workflow was never built to support it.”

California’s AB 723 covers alterations to “elements outside of, or visible from, the property,” which may include sky visible above a property’s roofline.

The report recommends that regulators issue guidance on sky replacement, consider portal obligations in future regulatory guidance and explore a national working group for consistent AI image disclosure standards.

Coraly said it has developed a compliance workflow in partnership with San Diego MLS that operates at listing submission, scanning images for alteration and generating publicly accessible proof pages with stable URLs and QR codes.

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

This post was originally published on here

Beijing has built up the use of the yuan for the oil market and other international trade, giving Iran and Russia a way to evade Western sanctions

This post was originally published here

A second day of Israel-Lebanon negotiations has begun in Washington on Wednesday, a US State Department official told The Jerusalem Post.

According to the official, the goal of the talks is to “continue to advance a comprehensive peace and security between the two countries.”

Present at the talks are an Israeli delegation, headed by Israeli Ambassador to the US Yechiel Leiter, and a Lebanese delegation led by Lebanese Ambassador to the US, Nada Hamadeh Maawad, as well as former Lebanese ambassador to Washington, Simon Karam.

Hezbollah threat one of main issues to be discussed

US Secretary of State Marco Rubio, speaking to reporters in Kuwait on Wednesday, emphasized that the threat posed by Hezbollah will be one of the main topics of discussion. 

“The only reason Israel is in Lebanon is because Hezbollah launches rockets and drones from there,” Rubio stated. “If Hezbollah wasn’t launching against them, they wouldn’t be there.”

He expressed hope that, through the mechanisms established during the US-mediated talks, “the legitimate sovereign Lebanese government will continue to be able to control and secure more and more of their own territory.”

“The more of that area the Lebanese Armed Forces is able to secure, the less of it’s in Hezbollah’s control, the less Israel will be in Lebanon,” Rubio added.

Israeli, Lebanese delegations encountered sticking points during first day of talks

The fifth round of discussions between the two nations kicked off on Tuesday and focused on the creation of “pilot areas” in southern Lebanon from which IDF troops would withdraw, allowing Lebanese military forces to take their place.

US Ambassador to Lebanon Michael Issa reportedly told Lebanese news outlet Al-Jadeed TV that some difficulties arose on the first day of talks, but added that he hoped the sticking points would be resolved through further discussions.

According to an Axios report on Wednesday, the first day of talks ended with no progress. Two sources briefed on the negotiations told Axios that there was a sense that the discussions resulted in more regression than steps forward.

Before Tuesday’s talks started, Leiter expressed concern regarding the direction of the talks.

“This is the fifth round of talks, and I must say, we are heading toward a train wreck… that train is in danger of derailing,” he said.

He shared his worry that Iran-funded Hezbollah may be given “a new lease on life” under a recently signed US-Iran Memorandum of Understanding, warning that it may allow Tehran to continue to funnel resources to the Lebanese terrorist group.

Tobias Holcman and James Genn contributed to this report. 

This post was originally published on here

Israel needs a government that doesn’t serve the interests of the ultra-Orthodox leaders, opposition party heads stated as thousands took to the streets to block roads in protest of the haredi draft on Wednesday.

“Israel needs a new agreement, a fair agreement between the government and its citizens – an agreement that says we are all building this country together,” Opposition head Yair Lapid said, slamming Netanyahu for his refusal to cease funding those who do not serve in the IDF.

“While soldiers are being killed every day in Lebanon, he keeps giving them more and more of the working and serving public’s money so that they will not enlist in the IDF.”

Former IDF chief of staff Gadi Eisenkot stated Netanyahu’s legacy would be allowing the non-working and non-serving public to paralyze the country, shutting down the working and serving sector at the end of the workday.

“The next government will act according to the national interests of the State of Israel, not according to the interests of Deri, Gafni, and Goldknopf,” he said.

Other opposition leaders also slammed the protests

Former prime minister Naftali Bennett criticized the protesters while stuck in traffic on the way to celebrate his daughter finishing preparatory school.

“I have been in traffic for two and a half hours. I am here because of a group of evading privileged people, I and every taxpayer are funding them because they decided to bury the country,” he told Kan Reshet Bet.

“The operatives of Shas and United Torah Judaism are holding the Haredi public hostage. They are turning the broader public against them,” Yisrael Beytenu chairman Avigdor Liberman stated.

“Those responsible for the traffic jams and road blockages during rush hour are the same leaders who are concerned with securing power, prestige, and money for themselves. Once again, the price is being paid by those who serve, work, and pay taxes.”

Leader of the Democrats party Yair Golan called to “block every shekel that finances draft evasion,” as well as blocking institutions that incite against service, and rabbis, activists, and elected officials who encourage haredim against joining the IDF.

“In the world they have built here, there is no equality before the law. There is no obligation to serve. There is no education that gives children the tools they need for life. There is no basic Israeli solidarity. There is a wall. They built a wall,” he wrote, noting how the haredi youth is denied core studies from a young age, and are raised in a system of “poverty, ignorance, dependence, and the denial of professional opportunities.”

“They are blocking roads now; tomorrow, we will block the money, the political deals, and send the Haredi power brokers into the opposition to do some deep soul-searching. That is a promise.”

This post was originally published on here

Israeli officials assess that even if US pressure on Prime Minister Benjamin Netanyahu to withdraw from the areas held by the IDF in southern Lebanon may intensify at this stage, a full withdrawal is almost impossible for him politically.

“Such a withdrawal would be political suicide for Netanyahu,” said the officials, who spoke on the condition of anonymity.

According to them, the prime minister is facing heavy electoral constraints, and after presenting the hold on the security zone as a strategic achievement, he cannot afford to be seen as folding under American-Iranian pressure. In this context, they also point to a familiar Netanyahu pattern: when he knows he will have to concede on one front, he hardens his positions on another.

In their assessment, after refraining from launching a broad offensive war in Lebanon and effectively agreeing to conduct the campaign at a more limited level of intensity, he is now insisting even more strongly on maintaining the security zone. The estimate is therefore that Netanyahu may agree to limited tactical steps, local adjustments, point-specific transfers, or changes in deployment, but not to a full withdrawal.

Officials reject that IDF deployment in Lebanon serves no purpose

Officials also reject the claim that the IDF presence in southern Lebanon serves no purpose. Security sources say the IDF continues to clear infrastructure, destroy facilities, and hold areas of strategic value to Hezbollah.

They also say there is, according to estimates, a large underground Hezbollah compound in the area, one of strategic importance to the organization, and that Israel is operating around it cautiously and gradually. “Every additional day there is worth security,” officials explained.

Americans aim for regional calm

Behind the American insistence, Israeli officials assess, lies a broader interest of the administration: regional calm, stability, quick diplomatic gains, and the opening of the door to economic projects. Senior American officials have already invested significant political capital in the move toward Iran, and according to the sources, it is hard to see them backing away from it quickly or returning to a full confrontation policy.

Still, Israeli officials understand that the diplomatic clock is ticking. The international community will not accept a prolonged Israeli presence on Lebanese soil, Hezbollah will not accept it either, and in Lebanon itself, there are already claims that Iran is effectively speaking on behalf of Lebanon and weakening the Lebanese state’s standing.

Israeli officials assess that if a full withdrawal does take place, it may come only later, perhaps after the elections, and not as a result of Netanyahu making an immediate concession under pressure.

From Israel’s perspective, the issue has already gone far beyond a nuclear deal or a ceasefire. The concern in Israel is about a deeper shift in US policy: Iran, which until recently was presented as a threat that had to be contained, is now becoming a party that is being dealt with in connection with Lebanon.

This post was originally published on here

A clinical trial testing two drugs against the Bundibugyo ebolavirus, which is driving a fast-moving outbreak in Central Africa, is set to begin next week, World Health Organization officials said Wednesday. 

The clinical trial — which will test both Gilead Sciences’ antiviral drug remdesivir and MappBio’s monoclonal antibody MBP-134 — will be conducted in the Democratic Republic of the Congo. The trial is designed to test whether either of the therapies is effective against this form of Ebola, and whether using the two in combination would be a more effective way to combat the disease.

Read the rest…

This post was originally published here

Incoming board member Lauren Tyler has more than 30 years of leadership experience in the finance world, which could help Centene navigate the challenging operating environment facing insurers.

This post was originally published here

Walmart said Tuesday it has agreed to acquire Vibe.co, a Paris-based platform that lets businesses buy and create streaming-television ads, as the retail giant pushes deeper into the fast-growing, high-margin business of selling advertising.

In a June 23 release, the company said Vibe.co’s self-serve connected-TV platform will fold into Walmart Connect, its commerce media business, making TV advertising more accessible and measurable for small and mid-sized businesses. Ryan Mayward, the senior vice president who runs Walmart Connect U.S., said the goal is to make TV advertising “more measurable and easier to activate for advertisers of all sizes.”

Terms were not officially disclosed, though one trade publication reported a price near $1.4 billion.

The deal reflects a quiet but profound shift in how Walmart makes money. Best known as one of the nation’s biggest retailers, Walmart is increasingly looking to become a major seller of advertising too. Grocery and general-merchandise sales carry thin margins; advertising is far richer. When Walmart sells ad space — on its site, in its app, on store screens, and now on streaming TV — the profits help keep shelf prices low while still growing earnings.

It is following the path Amazon blazed in turning ads into a profit engine.

Vibe.co fills a specific gap. Connected TV can reach huge audiences, but buying those ads has traditionally been complicated and costly, often putting it out of reach for smaller businesses. Arthur Querou, Vibe.co’s chief executive and co-founder, said the company was built to make streaming-TV advertising work more like paid social media — fast, measurable and optimized — and that joining Walmart lets it bring “performance TV advertising to one of the most powerful commerce media ecosystems in the market.”

Querou and co-founder Franck Tetzlaff are expected to join Walmart Connect.

The acquisition builds directly on Walmart’s $2 billion purchase of Vizio, which closed less than two years ago. Vizio gives Walmart a foothold in millions of living rooms and a stream of viewing data. Vibe.co gives it the tools to sell ads against that audience and prove they work.

Because Walmart can tie an ad to a later purchase through its “closed-loop” measurement system, it can offer advertisers something most media companies cannot: a direct link between a commercial and a sale.

The biggest target is small business. Many of Walmart’s third-party marketplace sellers are small and mid-sized brands that would never buy a national television commercial. By making streaming ads cheaper and easier to use, Walmart can sell advertising to those sellers and other small brands — a vast pool bigger media platforms often overlook.

For Main Street businesses, it could mean access to television-style advertising once reserved for large corporations.

For shoppers, the trend is double-edged. More sophisticated advertising means the products promoted on their televisions and phones are increasingly tailored to them, drawing on what Walmart knows about shopping habits and purchasing behavior. That can make ads more relevant, but it also extends the reach of a company that already tracks an enormous share of American consumer spending.

Roughly 280 million customers visit Walmart’s more than 10,900 stores and websites each week, creating a trove of consumer data few rivals can match.

The transaction is subject to antitrust review under the Hart-Scott-Rodino Act and is expected to close by the end of Walmart’s 2027 fiscal year, with no impact to sales or operating-income guidance.

It came a day after Walmart said it was consolidating its advertising operations into a single framework — a sign of how central the ad business has become to a company most Americans still think of simply as a place to buy groceries.

As retail media becomes one of Walmart’s key growth engines, deals like this show how the line between a retailer and a media company continues to blur.

JBizNews Desk | New York

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

Seattle’s LGBTQ community members say they hope that this Friday’s World Cup “Pride Match” between Egypt and Iran, two countries where homosexuality is criminalized, can be an opportunity to change minds.

Seattle revels in its reputation as a welcoming place and Pride flags are visible all over the city, all year round. Its June Pride weekend is one of the biggest in the United States.

So, ahead of December’s World Cup draw, it was only natural that local organizers designated the June 26 match to be held in the city as a “Pride Match.”

Then the draw happened — and the two teams scheduled to play the game were Egypt and Iran.

Egypt’s Football Association urged global soccer governing body FIFA to prevent any Pride-related activities, arguing such events clashed with the Muslim-majority country’s cultural and religious values. The governing body in Iran, where same-sex relations can carry the death penalty, filed an objection with FIFA.

Some in Seattle have doubts over the teams in the ‘Pride Match’

But in Seattle, there is no question that the Pride Match will go ahead as planned.

“The World Cup is going to come and go in three weeks,” Hedda McLendon, from Seattle’s local World Cup organizing committee, told Reuters. “The Pride celebration … has happened on this weekend for 50-plus years.

“It is going to happen this weekend, it is going to happen long after the World Cup.”

Some in the city’s LGBTQ community had mixed feelings given the participants, said Jon Cairns, 49, manager of local LGBTQ+ club Kremwerk.

Cairns, however, said his own view was that it provided a platform to promote acceptance that only the world’s biggest sporting event could offer.

“My reaction is let’s have them,” he told Reuters. “International sports is one of the biggest brokers historically of social change and individual rights and freedoms worldwide, including in the U.S.”

He cited black U.S. sprinter Jesse Owens’ four gold medals at the 1936 Olympic Games in Nazi Germany and Tommie Smith and John Carlos’ raised-fist protest in 1968 as moments where “only international sports could reach that big of an audience.”

“They’re not going to turn off the World Cup on state television in Iran or Egypt to block out a Pride flag in the audience,” Cairns said.

The Pride Match is “a host city initiative” and separate of FIFA, a spokesperson for soccer’s governing body told Reuters.

Seattle’s LGBTQ community sees an opportunity 

Egypt and Iran’s involvement in the Pride Match is not the first time the World Cup has grappled with stark differences in attitudes between hosts and visitors.

In 2022 World Cup host Qatar, the emir said visitors should “respect our culture” when asked about gay people attending the tournament.

FIFA threatened yellow cards for captains wearing the “OneLove” armband, citing its rules against political slogans. Teams including England and the Netherlands that had been planning to wear the armbands to protest Qatar’s laws against same-sex relationships abandoned the plan.

For Ryan Webster, a 40-year-old lifestyle manager who was at Kremwerk the weekend before Pride, Seattle’s “Pride Match” was an opportunity to show solidarity with people in countries where their sexuality was outlawed.

“I’m choosing to believe that this is our moment to allow the members of the LGBTQ community that come from those countries to have the opportunity to celebrate themselves in totality that they might not have otherwise,” he said outside the club, which will host a watch party for Friday’s game.

Inside, ‘Venus Fengz’ lip-synced to Cher’s “Believe” before introducing fellow drag performers to the stage, clapped and cheered by a raucous crowd.

Fengz, who only wanted to provide their stage name, said Pride coinciding with the World Cup would bring increased visibility, anticipating perhaps some new audience members.

“I think it’s always great for us to be able to share space and share places with people who don’t have the same experiences as us,” they told Reuters.

“Sometimes you just have to be the bigger person and show grace where you can and know that everyone is a human learning (from) different experiences, but also it can get hard — because you’re on the shorter end of the stick, always trying to have to explain yourself around people who don’t grow up with the same worldview.”

This post was originally published on here

Incoming board member Lauren Tyler has more than 30 years of leadership experience in the finance world, which could help Centene navigate the challenging operating environment facing insurers.

Zillow has notched what it is calling a legal win in the consolidated Real Estate Settlement Procedures Act (RESPA) lawsuit filed against it last September. 

On Tuesday, Seattle-based Federal Court Judge James Robert approved a motion filed in March by defendants The Real Brokerage and the Real-brokered The Frano Team to compel arbitration between the two parties and the plaintiffs in the Taylor lawsuit. In addition, the judge stayed the suit until the arbitration is completed. 

Zillow had also previously asked that the suit be stayed. 

In a statement published on its Front Porch blog, Zillow called the ruling “yet another setback for the plaintiffs,” adding that the ruling “just offers further proof that plaintiffs have simply been throwing new theories and parties at the wall without any substance behind them.” 

The court is still considering Zillow’s motion to dismiss the lawsuit. 

Originally filed in mid-September 2025, the lawsuit claims that the portal tricks consumers into using agents affiliated with Zillow through its Flex and Premier Agent programs, resulting in inflated home purchase prices.

In December 2025, the lawsuit was consolidated with a second suit known as the Armstrong suit, which was first filed in early November, claiming that Zillow pressures agents in its Premier Agent and Flex lead programs to steer buyers to Zillow Home Loans for their purchase mortgage pre-approval. Allegedly, agents who send more clients to Zillow’s mortgage arm for their pre-approvals received extra or higher-quality leads in exchange.

In a first amended complaint filed in the consolidated lawsuit in early January, the plaintiffs again claimed that Zillow tricks consumers into using agents affiliated with Zillow through its Flex and Premier Agent programs, resulting in inflated home purchase prices. The complaint also added Real and The Frano Team as defendants. 

In a second amended complaint filed in April, the plaintiffs added eXp Realty as a defendant, accusing it of supporting Zillow’s “fraudulent business enterprise” by allegedly steering clients to Zillow Home Loans for their financing needs.

This post was originally published on here

President Donald Trump on Wednesday abruptly canceled a planned signing ceremony for a bipartisan housing bill, saying he would withhold action on the measure until Congress passes the SAVE America Act, a sweeping election bill that has become a centerpiece of his second-term agenda.

Trump was scheduled to sign the 21st Century ROAD to Housing Act on Wednesday afternoon, less than 24 hours after the bill passed the House of Representatives after clearing the Senate.

The housing package, which passed the House in a 358-32 vote, seeks to lower the cost of homeownership and expand the nation’s housing supply while reflecting priorities shared by Congress and the White House.

But in a post on Truth Social on Wednesday morning, Trump announced that the housing bill signing would not move forward.

“Today’s Housing News Conference and Signing is hereby cancelled until such time as we pass the desperately needed SAVE AMERICA ACT, which I consider to be a National Emergency,” Trump wrote in his post.

The president has repeatedly urged lawmakers to pass the SAVE America Act, which would establish nationwide election standards and impose new voter identification and proof-of-citizenship requirements. The House approved the SAVE America Act in February, and the measure has garnered widespread support among Republicans.

But without backing from Democrats, the party lacks the 60 votes required to overcome the Senate filibuster and advance the legislation.

James Harris, CEO of real estate software firm Breezy, said in a statement that “housing affordability is one of the biggest issues facing Americans today. Anything that helps increase supply and improve affordability is a step in the right direction. Delaying action only makes homeownership more challenging for buyers who are already struggling with high prices and mortgage rates.”

According to analysts at Keefe, Bruyette & Woods, the final version of the bill represents a “broad yet incremental, supply-oriented housing package focused on incentivizing new construction, modernizing federal housing programs, and expanding financing access.

“Overall, the bill emphasizes zoning reform, streamlined permitting, and federal incentives to increase supply, while pairing these with modest tenant protections and programmatic expansions, suggesting a constructive but balanced outcome for residential real estate sectors,” the analysts wrote on Wednesday.

The 21st Century ROAD to Housing package was negotiated by congressional leaders from both parties, including Sens. Tim Scott (R-Fla.) and Elizabeth Warren (D-Mass.), as well as Reps. French Hill (R-Ark.) and Maxine Waters (D-Calif.).

If Trump neither signs nor vetoes the bill within 10 days, excluding Sundays, while Congress remains in session, the bill automatically becomes law.

Earlier Wednesday morning, Trump downplayed the significance of the housing legislation in a separate social media post, describing it as “of minor importance” before returning his focus to the SAVE America Act.

In that post, Trump criticized Warren and referred to the legislation as a “Warren-centric housing bill,” despite the measure’s bipartisan backing.

“This has to be the most unsavvy political move I’ve ever seen,” Stephen Kent of the Consumer Choice Center said in a statement. “Voters are telling pollsters again and again that access to housing and the price tag on new single-family homes and apartments is the number one issue underlying concerns over ‘affordability.’”

“What we’re witnessing is one of the biggest slaps in the face to consumers and American families in recent memory,” Kent added. “Americans, particularly young people, have all but given up on this foundation block of the American Dream — home ownership. It means something to people, the same people who voted President Trump into office. It’s a real betrayal to hold up this legislation, and we can only hope that a veto is not what comes next.”

This post was originally published on here

Americans are moving less. In 2024, about 7.15 million people relocated across state lines, according to a recent StorageCafe analysis. The number, representing 2.1% of the U.S. population, is the lowest interstate mobility rate in more than a decade and a clear step down from 2.5% in 2022 and 2.3% in 2023.

The rapid reshuffling that defined the early 2020s has cooled, easing the demographic momentum that often influences housing demand and broader commercial real estate activity. Yet the slowdown does not mean stagnation: regional winners and losers are still emerging; family, jobs and affordability remain central drivers; and generational patterns are reshaping who moves and where they settle.

Gen Z accounts for the largest share of interstate movers

Gen Z leads all generations in interstate moves, accounting for roughly 2.2 million relocations. That reflects life-stage mobility: early careers, education transitions and rental housing flexibility.

Millennials remain relatively mobile as well, with 2 million moving to a different state during the same period. However, rising home prices, mortgage rates and the natural progression toward a different stage of life have obviously altered decision-making related to moving. With borrowing costs elevated and many homeowners locked into lower mortgage rates secured before 2022, discretionary relocation has slowed.

Texas and Florida still lead in net gains, but growth has tempered significantly

Despite the broader slowdown in interstate mobility, Texas and Florida remain the top two states for net domestic migration in 2024. Texas recorded approximately 76,000 net inbound domestic migrants in 2024. That total, while enough to secure the No. 1 position nationally, represents a sharp decline from 2023, when the state added roughly 136,000 net newcomers. Florida followed with about 68,000 net new residents in 2024, down significantly from the roughly 126,000 it gained the year prior.

South Carolina posted around 54,000 net gains, and Arizona added about 51,000. Nevada, North Carolina, Georgia and Tennessee also ranked among the top states for net migration.

Nevada stands out in particular. With over 45,000 newcomers, the state more than doubled its net domestic migration compared with the previous year, marking one of the strongest year-over-year accelerations in the country. Tennessee follows the same trend, increasing net migration by 19% to receive 33,000 newcomers, incentivized by a still-affordable housing market.

The Midwest is starting to emerge as an attractive moving destination

Among the top 10 states for net migration in 2024, only one falls outside the South and Mountain West. Ohio recorded approximately 29,000 net domestic migrants, marking a meaningful reversal from prior years of population loss.

Ohio’s surprising inclusion in the top 10 signals an emerging shift. As housing costs have climbed in traditional Sun Belt destinations, some households are broadening their search. States in the Midwest are benefiting from lower home prices and stable employment bases, which are drawing movers seeking affordability without sacrificing economic opportunity. Looking beyond the top 10 states for net migration, Michigan and Wisconsin are also showing signs of capturing interest from Americans moving long distance.

While the Midwest does not yet rival the South in total inbound numbers, its relative improvement suggests we might soon see a far more diverse migration landscape.

Smaller states lead per-capita migration gains

Population-adjusted migration reveals something raw totals can’t: where growth is most concentrated relative to the existing base. That distinction matters because structural shifts in housing demand, labor supply and local economic activity are driven by growth intensity, not volume, and, on that measure, smaller states dominate the rankings.

By that measure, Vermont ranks first nationally, adding just over 20 net domestic migrants per 1,000 residents in 2024 – roughly 2% population growth from interstate moves alone. The composition of that inflow sharpens the picture further: 86% hold at least a bachelor’s degree and 36% are Gen Z. For a small state, that level of concentrated, education-driven in-migration can meaningfully reshape local labor markets, housing demand and the commercial activity that follows both.

North Dakota and Wyoming each added more than nine net newcomers per 1,000 residents, but the two states tell different stories. North Dakota’s arrivals skew younger and more rental-oriented – only about 31% purchased a home shortly after moving. Wyoming’s movers, by contrast, transitioned predominantly into homeownership, suggesting financially established households with a different footprint on local services and retail activity.

West Virginia and Idaho round out the top five at roughly eight and six net newcomers per 1,000 residents respectively. In both states, Gen Z represents the largest incoming cohort, reinforcing the growing role of affordability and lifestyle considerations in shaping where younger Americans are choosing to settle.

California heads high-cost states that continue to see net migration losses

The migration map in 2024 still shows a clear divide between high-cost coastal states and lower-cost interior markets.

California remains the largest net exporter of residents. The state recorded a net domestic migration loss of more than 263,000 people in 2024, marking the 10th consecutive year of net migration losses. While departures are no longer at the extraordinary levels seen in 2021 and 2022, when remote work flexibility accelerated exits, the overall trend has not reversed.

New York follows with a net domestic loss of approximately 129,000 residents. Unlike California, however, New York’s outflow slowed meaningfully compared with the prior year, with about 50,000 fewer net departures. The state continues to face housing affordability constraints, but the pace of relocation appears to be stabilizing as labor markets in finance, media and technology regain momentum.

Illinois and New Jersey also remain in negative territory. Illinois saw a net loss of roughly 81,000 residents in 2024, while New Jersey recorded about 61,000 more departures than arrivals. Both states improved slightly year over year, yet the longer-term direction remains outward.

Self-storage adjusts to the slower migration cycle

Self-storage demand closely follows mobility. Even with interstate migration slowing to 2.1% of the population in 2024, more than 7 million Americans still changed states, sustaining a solid baseline of relocation-driven storage use.

During the peak migration years, many inbound states expanded aggressively. Storage inventory now sits well above the national benchmark of 7.4 square feet per resident in key growth markets: 11.4 square feet in Texas, 11.7 in Nevada, 9.8 in Florida and 13.2 in Oklahoma.

As migration cooled, markets began differentiating. In states where inbound flows eased, such as Texas and Florida, street rates adjusted modestly, down 0.9% and roughly 1.5% respectively. In contrast, Nevada, where net migration more than doubled year over year, saw rates hold steady despite elevated supply. Oklahoma recorded a 1.1% rate increase alongside stronger net migration.

The takeaway is balance. Storage markets are aligning with local migration fundamentals rather than broad national momentum. For operators, that means performance increasingly depends on disciplined market selection and supply management. For renters, it generally means greater choice for self-storage services and pricing affordability and stability.

This post was originally published here

The U.S. Energy Department said Tuesday it will provide up to $17.5 billion in loans to jump-start construction of 10 large nuclear reactors, an effort to meet the soaring electricity demand from artificial-intelligence data centers. Energy Secretary Chris Wright, on a call with reporters June 23, cited “tremendous interest” from data-center developers that would buy the power, as well as utilities and energy companies.

“This is the start,” Wright said, adding he’d be “very surprised” if dozens more were not built once a supply chain is running.

The plan works like this. The government is offering as many as five conditional loans for utilities and energy companies that will each build two reactors, using designs from Westinghouse Electric Co. The loans run about $3.5 billion per project, with utilities and Westinghouse expected to contribute up to $5 billion in equity in total. Westinghouse has signed letters of intent with seven potential partners, each with an identified site, and the department declined to name the utilities until final selections are made.

The push responds to a power crunch. Data centers used 4% to 5% of the nation’s electricity in 2024, a share that could nearly triple by 2028, and some analysts expect total U.S. electricity use to rise as much as 20% over the next decade, with data centers a big reason. The country has struggled to add generation: most U.S. nuclear plants were built between 1970 and 1990, with Georgia Power’s Plant Vogtle expansion a rare — and famously over-budget — recent example.

For the nuclear industry, this could be a turning point. Building large reactors in the U.S. has lost money for decades, plagued by overruns and delays. Wright said the loans could speed each project by up to three years and lower construction costs, with a goal of having all 10 under construction by 2030 and generating power in the mid-2030s. He called the financing “very, very low risk to the American taxpayers.”

That claim is where the debate begins. Government-backed nuclear financing carries real risk: the last generation of U.S. reactors ran years late and billions over budget, and taxpayers or ratepayers often covered the gap. Supporters counter that nuclear offers what data centers need most — large amounts of steady, around-the-clock power that does not depend on weather, unlike wind or solar. For tech companies racing to power AI, reliable supply matters more than almost anything.

The move also fits a broader political calculation. Rising electricity bills have become a flashpoint before the November midterms, and the administration has searched for ways to expand supply without further inflaming household costs. By steering new generation toward data centers — and pressing tech firms to help pay for it — the White House is trying to satisfy AI’s appetite for power while shielding consumers from the bill.

The announcement came a day after Trump signed an executive order on quantum computing, part of a wider effort to court the tech sector.

The business ripple effects could be significant. A revived reactor program would mean orders for Westinghouse, work for construction firms and equipment makers, and thousands of skilled jobs in the regions where plants rise. It would also deepen the financial ties between Big Tech and the power industry, as data-center operators increasingly sign long-term deals to buy electricity from specific plants.

Whether the projects come in on time and on budget — the chronic weakness of American nuclear construction — will determine if Tuesday’s announcement is a genuine revival or another costly false start.

JBizNews Desk | New York

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

You’re reading the web edition of STAT’s AI Prognosis newsletter, our subscriber-exclusive guide to artificial intelligence in health care and medicine. Sign up to get it delivered in your inbox every Wednesday. 

I’m writing to you from a hotel room in San Diego, four hours before this newsletter is scheduled to send.

I’m also still reeling from this absolutely crazy story my colleague Lizzy Lawrence wrote. Imagine STAT executive editor Rick Berke reading of the top of the story out loud to a group of STAT reporters over dinner at a waterfront restaurant, and my jaw dropping as I realize what’s going on.

Continue to STAT+ to read the full story…

This post was originally published here

Israel might not be able to push for Iran or Hamas’s collapse in Gaza, due to the fanaticism that keeps the group in power, Dr. Col. (res.) Michael Milstein, a senior researcher at the Dayan Center at Tel Aviv University and a former head of the Palestinian arena in Military Intelligence, said in a 103FM interview on Wednesday.

“Has the enemy been beaten on all fronts, and especially Hezbollah? That is completely clear. But have we broken its personal motivation and ideology? I think we do not always decipher the enemy’s logic or its basic thinking. There is nothing to be done,” he explained.

“These are groups that, even after taking terrible blows, still remain very fanatical. That is why, although we desperately wanted to see the collapse of a regime or the collapse of Hamas in Gaza, it did not really happen. I am not sure it is possible. I think that if there is any change, it will happen only because of an Arab Spring in those countries. I do not see how Israel, with the tools it has, can engineer the consciousness of the other side,” Milstein added.

Dangers of agreement between US, Iran

He later discussed the agreement signed in Switzerland, warning about its implications for the northern border and Hezbollah’s strategic reading of the situation.

“You read the news about another round of talks, and you begin to understand that this is cosmetic, a supposedly attractive shell that is meant to be the real event. The real event is what kind of arrangement there will be between Israel and Hezbollah, not between the Lebanese government,” he said.

“I look at Hezbollah in the last 48 hours, mainly at what happened in Switzerland yesterday, that crisis solution that was formulated without Israel, and when they see the worried voices in Israel and Vance’s stammering, Naim Qassem said two days ago: ‘I continue to emphasize two things. How am I being told that there is an Israeli withdrawal, not tactical, from Beaufort or certain pockets? And second, he talks about a return to the October 2023 equation.’

“In other words, it will not be a situation in which Israel can attack whenever it wants, but a situation in which there is no more Israeli activity against Hezbollah. All these discussions will continue until Thursday. I assume Trump will want some kind of framework so he can say, ‘Here, I brought you an agreement.'”

Hezbollah understands it has no room to start softening

“Hezbollah is an organization that reads us all the time. It does not always assess things accurately, but it reads us all the time.

“Even from the broadcasts from today or from last night, it sees the frustration among the heads of the local authorities in the North, the frustration in the IDF, it sees the stammering in the US, and when it sees that, it understands that there is no room to start softening. You can see that they are insisting,” Milstein said, regarding the conduct of the negotiations.

Milstein also mentioned Qatar’s involvement.

“One of the things Hezbollah is very proud and happy about is that a new card has been added to the deck, and it is called Qatar. The country that drove us crazy in the Gaza arena is apparently returning here too, to the Lebanese arena, also here as a mediator, also here as a factor that the Americans thank for the work it is doing.”

This post was originally published on here

The biggest casualty of the US-Iran deal may not be Israel’s Iran strategy, but the political brand Prime Minister Benjamin Netanyahu spent decades constructing as the Israeli leader who could uniquely bend Washington to his will on Iran, analysts, former US officials, and diplomats say.

Netanyahu built his political identity on an audacious assertion: that he alone could keep the US and Israel in strategic lockstep on Iran. Cultivating Republican support, he cast himself as the only Israeli leader capable of influencing successive US presidents and insisted that only sustained military pressure could contain Tehran.

At the height of his power, he was described by diplomats as the “American whisperer” – the Israeli leader who could pick up the phone and ensure Washington’s strategic calculus aligned with that of Israel. No other Israeli prime minister, they note, addressed Congress as often or built such enduring political capital across the American political system.

But analysts say Washington and Tehran’s interim pact to end the war that the US and Israel launched in February shows how that narrative has been reversed. Rather than shaping Washington’s Iran policy, Netanyahu is now forced to accept it, as US President Donald Trump pursues a settlement that increasingly treats Israeli objections as constraints.

At home, the reckoning is equally stark, said former US official Dennis Ross. Netanyahu is increasingly boxed in between a US president intent on ending the conflict and a domestic base resistant to concessions, particularly in Lebanon, he said. Withdrawal risks political backlash, while escalation risks confrontation with Washington.

The war Netanyahu hoped would cement his legacy as the leader who confronted Iran may instead be remembered as the conflict that dismantled a central source of his power. Isolated abroad, constrained by his closest ally and vulnerable ahead of an autumn election, he now finds the political asset on which he built his career has become his greatest liability.

At the outset of the war with Iran, Netanyahu promised ultimate victory. He delivered neither the collapse of Iran’s ruling system, nor the defeat of Lebanon’s Hezbollah, nor a safe return for residents of northern Israel.

“The US-Iran deal is a decisive blow to Netanyahu,” said Aviv Bushinsky, a former Netanyahu adviser. “Not only did he lose the war with Iran, he has also lost Trump as a friend. He is now isolated not only internationally, but locked in a major dispute with Trump,” he said.

Netanyahu’s office did not respond to a request for comment. In a press conference this month, the Israeli premier described his relationship with Trump as one between partners who “agree many times and sometimes disagree.” There had been a systematic campaign to diminish Israel’s “huge achievements” against Iran and its proxies, he said.

A White House official said Trump and Netanyahu had a strong relationship and that Israel’s military forces had been “incredible partners” in a war that had “decimated the Iranian regime’s military capabilities.”

US-Israel rift spreads beyond personal ties

The disagreement between the US and Israeli leaders, analysts say, extends beyond personal ties to a growing divergence in goals: Trump seeks to disengage from another Middle East war, while Netanyahu views continued pressure on Iran and its ally Hezbollah as essential to Israel’s security.

Washington has negotiated directly with Tehran, folded Lebanon’s conflict between Israel and Iran-backed terrorist group Hezbollah into a broader framework, and created mechanisms to manage ceasefire disputes – moves that, according to three regional diplomatic sources, have increasingly sidelined Israel from key decisions.

The country that once viewed Netanyahu as an indispensable interlocutor is now, the regional sources say, treating him as an obstacle to an agreement it is determined to protect.

Trump has publicly rebuked Israel’s military conduct in Lebanon, while US Vice President JD Vance has underscored the conditional nature of the relationship, warning Israeli critics of the deal against “attacking the only powerful ally they have left in the world.”

Two Israeli officials familiar with Netanyahu’s thinking said he was not concerned that public remarks by Trump and Vance would translate into meaningful shifts in US policy toward Israel, such as delays in arms deliveries, even if Israel continues military operations in Lebanon.

Trump has signaled that he is prepared to override Israeli priorities in pursuit of US interests. In a TV interview this month, he said that if he tells Netanyahu “to do something, he does it.”

Israel losing Republican support safety net

Iran will seek to widen the emerging gap between the US and Israel by portraying any Israeli military action in Lebanon as an attempt to sabotage Trump’s diplomacy, forcing the White House to choose between backing its ally or preserving the deal, said Ali Vaez of the International Crisis Group.

What makes Netanyahu’s position so precarious, US analysts say, is the loss of his safety net.

For years, he cultivated Republican backing, using it as a counterweight to offset tensions with Democratic administrations, and openly denouncing former president Barack Obama’s 2015 Iran nuclear deal from a congressional podium. But Republicans will not break with Trump for Netanyahu, they said.

Against this backdrop, the implications of the US-Iran deal also extend to Netanyahu’s core strategic bets. He staked his political future on two objectives: weakening, if not toppling, Iran’s theocratic leadership and securing normalized relations with Saudi Arabia by expanding the Abraham Accords.

Neither has materialized. Iranian leaders have emerged

from the conflict entrenched, while the Saudi handshake remains out of reach.

Across the region, a recalibration is already visible. Countries Netanyahu once hoped to draw closer – with Saudi Arabia as the crown jewel – are now hedging, slowing normalization with Israel while cautiously reopening channels with Tehran.

According to Gulf sources, the logic that underpinned the Abraham Accords has been eroded by the Gaza war, the unresolved question of West Bank annexation, and a growing perception that Netanyahu’s Israel may be more of a liability than an asset in any emerging regional order.

An Iranian official said Netanyahu’s push to expand the Abraham Accords has been blunted, with several countries now seeking a place in an emerging Iran-aligned framework.

“This is not just a victory for Iran. It’s a failure for Netanyahu,” the official said. The Islamic Republic has not just survived – it has emerged as a more influential regional player.

This post was originally published on here

US Vice President JD Vance is leading US talks with Iran. He is also drawn into discussions about Lebanon, in part because Iran has tried to salvage Hezbollah’s role there. Vance has taken a keen interest in Christians in Lebanon. To understand why Vance’s outreach matters, it’s worth looking at history.

Historically the majority community, Christians in Lebanon have suffered setbacks in the last century. For instance, they lost out in the Lebanese civil war and after the Taif Accords they saw their traditional role running the presidency slightly weakened in favor of a Sunni-held prime minister’s office.

In recent years the Christian community has been split between some who supported Hezbollah and some who oppose Hezbollah. Former President Michel Aoun allied with Hezbollah in the early 2000s. He led his Free Patriotic Movement into this relationship for a variety of reasons.

One was that he may have believed Hezbollah could better protect Lebanon from extremists, such as jihadists during the era of Al Qaeda and ISIS. However, this also led to the Christian political camp being divided. Other Christian smaller groups such as the Frangieh bloc and its Marada movement also worked with Hezbollah.

Lebanese Christians suffer under Hezbollah repression – Geagea

Historic Christian parties such as Kataeb movement and its Lebanese Forces, mostly backed by Maronite Christians, did not back Hezbollah. Samir Geagea has been a key figure in this movement for decades. A key figure in the Lebanese civil war he became a politicians in the 1990s but was imprisoned under accusations from the civil war.

He spent 11 years in prison, most of it in solitary confinement, only to finally be released after the Syrian regime was forced out of Lebanon in 2005. Since then he has risen again to leadership.

L’Orient Today noted this week that “the unprecedented comments made on Saturday by U.S. Vice President JD Vance regarding Christians in Lebanon sparked reactions from both ends of the political spectrum in the country. The leader of the Lebanese Forces (LF), Samir Geagea, sent a letter Monday to the US official, thanking him for his statements and urging him to completely separate the Lebanese issue from negotiations with Iran.”

The report goes on to note that “on Saturday, during an interview on American television, JD Vance addressed Lebanese Christians, assuring them they have ‘many friends in the American government who want to bring peace.’” Vance noted that Hezbollah had hid among Christians in Lebanon.

Geagea noted in his post about Vance that “Lebanese Christians have, throughout modern Lebanese history, and will continue to constitute, an element of stability, openness, moderation, and cultural and civilizational prosperity in this East. Lebanon has distinguished itself, thanks to its pluralism, public freedoms, open system, and cultural and economic role, with a unique status that has made it a space of radiance in a turbulent environment.”

He went on to note that “it is true that the past four decades have been among the most difficult stages experienced by the Lebanese in general, and Christians in particular, as a result of the establishment of ‘Hezbollah,’ as a military and security organization, which has usurped national decision-making, weakened legitimate institutions, prevented the establishment of an effective and capable state, and furthermore, embroiled Lebanon in conflicts and wars linked to Iranian agendas that do not represent the interests or aspirations of the Lebanese.”

“This has had a negative impact on the Lebanese economy, reduced job opportunities, and driven large numbers of Lebanese, including a significant proportion of Christians, to emigrate in search of safety, stability, and opportunities for a dignified life.”

He concluded that “on my behalf and on behalf of a broad segment of the Lebanese people in general, and Christians in particular, who aspire to the establishment of an effective and capable state in their homeland, my deepest thanks and appreciation for the friendship and concern you have shown toward the Christians of Lebanon, hoping that the United States of America will remain a key partner in helping Lebanon reclaim its natural role as a model of freedom, pluralism, and peace in the Middle East.”

This dialogue is important and it shows that Vance is also listening to Lebanese Christians. What comes next may hinge on this. 

This post was originally published on here

Oman and Iran have agreed to pursue discussions on the potential future administration of the Strait of Hormuz, asserting their “sovereignty and sovereign rights over their territorial waters in the Strait of Hormuz,” the two countries said in a joint statement following talks on Tuesday.

The statement marks a notable shift for Oman, which has largely remained silent amid a stream of declarations by Iranian officials regarding Tehran’s claims over the waterway and proposals for shared administration with Muscat.

The two countries emphasize “their sovereignty and sovereign rights over their territorial waters in the Strait of Hormuz” and “agreed to maintain their dialogue on this issue through a joint working group between the two foreign ministries in order to reach agreement on the future administration of navigation in the Strait of Hormuz and the services that will be provided in this regard and the costs associated with them in accordance with international standards.”

Unlike Tehran, which has demanded navigational fees and other payments throughout the conflict, Omani Foreign Minister Badr Albusaidi said the countries were committed to “toll-free safe passage” in Hormuz.

US President Donald Trump said on Wednesday that Iran told the United States that no tolls were being sought from ships traveling through the Strait of Hormuz.

As previously reported by The Jerusalem Post, experts like military historian Dr. Lynette Nusbacher have claimed that Iran’s attempts to push for a navigational fee for the safe crossing of Hormuz are simply a legal cover for the regime to charge a toll.

Under Articles 38 and 44 of UNCLOS, bordering Iran and Oman cannot suspend, impede, or charge tolls for vessels passing through the Strait, even though Iran is not a signatory to the convention, though the convention permits countries to charge fees for services provided.

Despite this, Trump claimed on Wednesday that “Iran has informed the US that, despite troublemaking Fake News reporting to the contrary, there are ‘NO TOLLS, NO INSURANCE COSTS, & NO OTHER CHARGES OF ANY KIND BEING SOUGHT OR RECEIVED BY IRAN ON SHIPS TRAVELING THE STRAIT OF HORMUZ… If this is false information, negotiations would end immediately!”

Iran’s rules and regulations for Strait of Hormuz

In conflict with Trump’s statements are the current terms published in Iran’s Persian Gulf Strait Authority ‘PGSA Passage Rules and Regulations,’ which ship owners are expected to agree to before being given permission to cross the strait, according to Iranian demands.

Viewed by the Post, the regulations insist that Iran “reserves the right to enforce penalties, revoke permissions or take further legal action” if ships fail to comply with PGSA orders, and that the “PGSA reserves the right to introduce insurance fees in the future.”

Prof. Michael Clarke, a prominent British defense analyst, academic, and former director-general of the Royal United Services Institute, told the Post earlier this week that such plans would be illegal under international law.

Speaking to the Post on Wednesday, Emma Salisbury, a senior fellow in the Foreign Policy Research Institute’s National Security Program and an associate fellow at the Royal Navy Strategic Studies Center, said that the talks between Oman and Iran do not mean that the countries have reached a legally settled framework.

“As the two coastal states bordering the Strait of Hormuz, Iran and Oman do have a recognized role in managing navigation services, but the strait is subject to right of passage under UNCLOS and under customary international law binding on all states. Any arrangement that imposes conditions, fees, or selective access requirements on shipping would face a serious legal challenge,” she asserted.

Notably, the PGSA has previously stated it would prohibit ships with ties to Israel, which may in itself be a violation of UNCLOS.

Operations in Strait of Hormuz will change

Outside of the financial benefits that administering Hormuz could provide Iran, should it pursue tolls, navigational fees, or private insurance from vessels, Salisbury told the Post that Iran could be handed “a legitimate institutional basis for requiring advance notification, identification, and routing compliance from commercial shipping, data that would be operationally significant in any future confrontation.”

She noted that during the recent conflict, Iran exploited its “positional awareness to target and board vessels selectively.”

“Embedding that capability within a governance framework rather than exercising it through naked coercion would make it far harder to contest legally or diplomatically, and would also complicate US naval operations in a conflict scenario by blurring the line between civilian maritime administration and military-intelligence activity,” she warned.

Though Iran’s constant insistence on Oman’s involvement in the administration of the strait has been documented, Salisbury said it could also be “genuinely stabilizing” for a region currently fearful that the Islamic Republic would close Hormuz as a pressure tactic as frequently as it may like.

“Oman has a material and strategic interest in keeping the strait open, it has historically maintained working relationships with both Iran and Western powers, and its participation creates at least some external constraint on Iran’s freedom of manoeuvre,” she explained, but warned that “Oman cannot compel Iranian behaviour, and Tehran will retain the physical and military capacity to close or coerce the strait regardless of any administrative arrangement.”

This post was originally published on here

Ahead of the 2026 Maccabiah Games, an event often called the “Jewish Olympics” and the largest Jewish sporting competition in the world, which are set to begin next week, social media influencer, dancer, and singer, Montana Tucker expressed her excitement to be hosting the delegation parade at the event and said that the games were taking place at a critical point for the global Jewish community.

“Israel has gone through a lot, Israelis have gone through a lot, Jews have gone through a lot around the world,” Tucker told The Jerusalem Post on Tuesday. “What’s going on is not just happening in Israel; it’s really happening all around the world with our Jewish community. So, an event like the Maccabiah Games is showing the world that we are strong, we are united, and we don’t give up, and we keep fighting.”

According to Maccabiah, the games bring together more than 10,000 athletes from at least 80 countries in Israel every four years to compete in over 45 sports. The Maccabi World Union says the games are the second-largest sporting event in the world after the Olympics.

The 2026 Maccabiah Games, the 22nd of their kind, were initially scheduled for last year but were postponed due to the security situation involving Iran and its regional proxies. 

“This was supposed to happen last year, and about a month away, we had to cancel it due to the war,” Tucker recalled. “And so I am so grateful that it is happening this year, because we truly do need this now more than ever.”

She also said she was excited to debut her new song “We’re Not Strangers” at the event.

“It’s all about unity and building bridges and bringing people together. And some of the lyrics say ‘we may pray to different saviors, but we’re not strangers,’” she told the Post. “Our world is so divided right now. I think that we really just need to come together and have more unity and compassion and understanding of one another. And if we really talk to people who look differently than us, act differently than us, have a different religion than us, we’ll realize we’re actually more similar than we think.”

Montana Tucker: Sport ‘truly unites the world’

Sports, she said, was an ideal method to build these bridges, adding she viewed it as something that “truly unites the world.”

The Maccabiah Games this year, though, will be the first since the Hamas-led massacres in southern Israel on October 7, 2023. The attacks sparked a regional eruption with Israel fighting wars against Hamas in Gaza, Hezbollah in Lebanon, and the Islamic regime in Iran.

“We always have to talk about what happened on October 7,” Tucker said. “We should never stop talking about it. And I think it is so important that Maccabiah is utilizing this platform to talk about it. I know they actually have a former hostage, Daniella Gilboa, who’s going to be performing, which is so powerful.”

Tucker also highlighted the value of the games, saying they were a powerful tool to dispel disinformation about the Jewish state.

“What’s shown on the news nowadays is just all the negativity. Most of it is just propaganda and lies about what Israel is, and I think the Maccabiah just debunks every possible propaganda and lie about Israel,” she said. “When people say the word ‘Israel,’ it comes with so many different connotations, and I think we can show them this. This is Israel. This is what being Jewish means.”

A key element in showing the world what Israel and being Jewish mean, she reiterated, meant showcasing Jewish unity at a time when, in the wake of the October 7, the global Jewish community has faced a worldwide rise in antisemitism.

The games themselves are being held under the slogan, “More Than Ever,” according to Maccabiah, to emphasize “the importance of strengthening the bond between [Jewish] communities worldwide and the State of Israel.”

This post was originally published on here

The European Union’s diplomatic service has proposed a three-year military and civilian mission to advise and train Lebanese forces, including in border and maritime security, according to a document seen by Reuters on Wednesday.

The proposal stems from the EU studying ways to strengthen Lebanon’s Internal Security Forces to help free up the Lebanese army to focus on disarming the terrorist group Hezbollah.

Discussion over a possible EU mission comes as the mandate of the UN Interim Force in Lebanon is set to expire at the end of 2026, when it is expected to begin a year-long drawdown and withdrawal.

The EU is not considering replacing UNIFIL, but rather strengthening Lebanese forces. Any such mission would require approval from the EU’s 27 member countries.

Mission to focus on strengthening border regiments, maritime security

In a document dated June 17 and circulated to EU member countries, the European External Action Service said a potential mission would “have an initial mandate duration of three years” and “would support the Lebanese authorities in reinforcing territorial control and border security through strengthening the capacities of the LAF and the ISF,” referring to the armed forces and security forces.

“To this end, the Mission would focus on strengthening land border regiments; Mobile Force and Regional Gendarmerie Units; enhancing Intelligence Surveillance and Reconnaissance (ISR) capabilities; and reinforcing maritime security capacities, including border and port security governance,” it added.

The proposal is complicated by the presence of Israeli forces, which have seized a swathe of southern Lebanon land after Hezbollah attacked Israel in support of Iran.

A ceasefire has largely ​held since Sunday, but Israeli forces are still deployed deep inside southern Lebanon, ⁠citing the need to shield northern Israel from Hezbollah assaults.

This post was originally published on here

Negotiations have begun with Israeli companies regarding the large-scale demolition of structures in the Gaza Strip, Walla reported on Wednesday, with sources describing them as unprecedented in scope.

“The peace government has a desire to advance the reconstruction process, but it is not meeting reasonable timelines or the scope they want,” a security source said.

“We are talking about enormous amounts of destruction that they want to turn into recycled construction materials, to transport a large part of it, and at the same time to level the area in order to build new homes on it, and all this is happening even before Hamas has been disarmed and the Strip has been demilitarized,” the source continued.

Sources said the plan envisions vast quantities of rubble being converted into recycled construction materials, with significant portions transported elsewhere.

At the same time, areas of the Strip would be leveled in preparation for future housing development, even before Hamas is disarmed and Gaza is demilitarized.

Security official warns of broader consequences

A security official warned that the pace and scope of developments could carry broader consequences.

“At this rate, there will be no choice but to resume fighting in order to disarm it and cut off its underground infrastructure, where it is hiding, managing its preparations for war with Israel, operating a production line of weapons, and hiding weapons depots,” said the official.

The official added that if the current trajectory continues, there would be no alternative but to renew fighting in order to dismantle Hamas’s underground infrastructure, which the source described as a network used for concealment, weapons production, operational planning, and storage of arms.

This post was originally published on here

Israel must close down the Palestinian Authority (PA) as a first step toward restoring its long-term security visa vise Judea and Samaria, new Bithonistim Chairman and Brig. Gen. (res.) Erez Wiener told The Jerusalem Post in an interview on Tuesday.

Wiener took over the right-leaning security NGO from Brig. Gen. Air Avivi on June 1 and is already throwing himself into the new role to try to impact Israeli policy and facts on the ground wherever possible.

With around 26 years in the IDF, as a former senior IDF southern command planning commander during the Israel-Hamas War, and as a former top aide to former IDF chief Gabi Ashkenazi, Wiener has been in the room when many of the most crucial war decisions were made.

He also admittedly has concluded his reserve duty in the IDF, at least in part over differences with the IDF high command, which he viewed as not taking an aggressive enough approach to Hamas in Gaza (there were also some controversies related to the handling of certain privileged military information.)

Going in depth into his argument regarding the PA, he said, “It is a negative. It educates children toward terror. It arms our enemies.”

Pressed that the PA never entered the 2023-2026 wars against Israel in any serious way, ” he responded, “Even if it has not been attacking recently or at this moment, if we do not protect them, Hamas will throw them off the rooftops. Abu Mazen says he will hold an election – let’s see.”

“The battle over who will succeed him will be very large. So the PA is a burden. The time has come to say Oslo failed. The IDF needs to retake Areas A and B and to take apart the PA. It can remain in a civilian capacity, which was the original plan.”

It was unclear whether he was in favor or opposed to PA police carrying small handgun style weapons, since in that area he said the key question was whether, collectively, whatever weapons the PA police would have could lead to them constituting a broader threat to Israel as opposed to just keeping the peace among local Palestinians.

“But an even better plan would be like the UAE, to keep the peace using tribal gangs, which is also like Israel is doing in parts of Gaza. We brought in the PA as an ‘alien’ entity of sorts,” Wiener urged. 

Next, Wiener was questioned about the clear US (and almost the whole world) opposition to dismantling the PA.

According to Wiener, “If the IDF chief says the PA is a threat and the Shin Bet says this also, this could change the public view and then help convince the Americans. This is the agenda.”

“We cannot fight with everyone on all fronts all of the time, but we are putting facts on the table. I am not naïve. There are going to be elections, and officials worry about their electability, but Bithonistim will declare the correct security policies and statements,” he said in terms of how realistic it is for his recommendations regarding the PA to be taken up in the near future. 

‘We fail at public relations:’ Wiener says attitude is at fault for some issues

What about if Israel changing its messaging does not convince Washington, and someone like US President Donald Trump, who holds grudges and can radically turn on a dime against a former ally, would be ready to completely freeze weapons transfers to the Jewish state.

Wiener stated, “Israel needs to define what is best for it. Regarding the PA, Israel never said clearly what is right. It is clear to most of the political spectrum that a Palestinian state is a threat to Israel, so what do we do?” 

“We fail at public relations. Take the violence by Jewish settlers. I wrote a long article on this with [Col. (res.)] Professor [Gabi] Siboni. We proved the numbers. There is violence by about 300 offenders and we need to deal with them. But [Shin Bet Director David] Zini was asked about dealing with them, and he said, ‘this is a police problem, not a terror problem.'”

He continued, “There are also hundreds of illegal migrants in Tel Aviv. And there is a big problem with polygamy in the Negev. We have lots of sovereignty problems. Some of the offenders need to be arrested and some need to be handled as social welfare cases. They have also rebelled against their parents and teachers, but it all starts with public relations messaging.”

Moreover, even if the PA is not directly involved in violence against Israelis, he said, “Palestinians violence [from the West Bank] is very substantial and is almost constant, with incitement also all the time.”

Further, he warned about “terror financing. Trump did understand this at the start when he stopped giving funds to the Palestinian Authority. We can do something, but it has to start with us.”

Ripple effect dangers from Bedouin, Arab theft, weapons smuggling

Moving on to another issue which Bithonistim wants to highlight, he said, “There are too many illegal stolen and smuggled weapons in the South from Israeli-Bedouins or Israeli-Arabs. Some weapons also get smuggled to Gaza and to the Palestinian Authority” in the West Bank.

He cautioned that this could lead to “70,000 armed fighters from the PA who could march over from Tulkarem and other places into Kfar Saba, Netanya, and other places in Israel and just take over. It can all happen. The IDF fights terror [on a case by case basis], but no one looks at [the broader] phenomenon in terms of the danger of a larger dangerous event.”

In addition, he stated, “We have a substantial project to help strengthen voluntary local security terms for villages in Judea and Samaria. But we need a more complete security response,” to be ready in the event of an invasion.

Mixed Jewish-Arab cities’ gangs pose a danger

Wiener also expressed concern about security in certain rougher mixed Jewish-Arab cities like Lod and Ramle saying, “[Islamic Movement Northern Branch leader] Raed Salah recently announced that he had performed a ‘Sulha’ [truce] for all the Israeli-Arab and Israeli Bedouin crime families after a string of murders. But if he accomplished a Sulha with them, we need to be very worried that he might also be able to activate them to carry out a wave of terror.”

“True, for three years we did not see much active terror against the State from this sector. But there has still been lots of violence. When my son try to go running in Lod, they throw rocks at him,” he continued.

Next, Wiener stated, “There was no rerun of [the] 2021 [Israeli-Arab gang riots] because the State undertook the issue as a major project, and this war was so horrible that if they [the gangs] had made a problem, we would have opened the gates of hell on them. So nothing big happened. I hope this will continue, but none of that means we can ignore it and not deal with it.”

“90% of the violence in Israel comes from the stolen weapons problem. This could, god forbid also get to the rest of the country,” beyond the Israeli-Arab sector, he warned.

Security challenges in Lebanon

Addressing security challenges in Lebanon, Wiener said, “The Lebanese government cannot handle Hezbollah alone. If Israel weakens Hezbollah, then the government of Lebanon could take control. But the way things are today, this could not happen. We need to push for this, even if it has not happened yet.” 

He noted that in March, mid-war, Bithonistim issued a position paper on Lebanon, recommending that, “We need a wider buffer zone, and not just a mere security strip, to provide peace to the northern residents. It needs to extend to the Litani River and the Nabatieh area [10 kilometers into Lebanon]. This is the area where the headquarters are for the Azizi ,Nasr, and Badr units – the three main southern Lebanon divisions of Hezbollah, which need to be taken apart.”

During the current war, he stated, “The IDF moved too slowly at first, and then moved in recent weeks toward Nabatieh, a little bit too late. See what we found at the big headquarters! See what Hezbollah built with Iran and North Korean help over the years.”

“We need to destroy terror infrastructure like the model in Gaza. We will not stay there forever and can leave if Hezbollah disarms, but otherwise may need to hold it for years,” he said.

Pressed that many of his ideas in the Lebanon arena also go against clear US policy, he responded that Israel must be ready to fight for its interests, adding that during the Gaza war, he was present when Prime Minister Benjamin Netanyahu pushed back on IDF concerns about shaking up relations with the US.

According to Wiener, Netanyahu responded, “worrying about the US is for me and not for you. We will also be ready to disagree with America,” with Wiener adding, “Trump is not Biden, and he is a friend, and he did a lot for us,” but fundamental Israeli interests come first. 

How did Wiener come to replace Amir Avivi who has run Bithonistim since its founding?

He said Avivi approached him to replace him, wanting himself to retire from the group, with expectations that he will be entering politics.

Wiener said Bithonistim’s mission is also to identify the metaphorical threat of “October 8,” meaning the threat that Israel has not yet prepared for.

With its 55,000 members, including many former senior defense officials, he said the group will continue to, “run programs at pre-IDF academies and for the police. We need more of this and even better programs. Rani Gvili is helping to campaign to get more funds for this. We also do education in high schools. All of these programs need to be expanded.”

This post was originally published on here

Darryl Davis Seminars Inc. has filed a multi-million dollar federal trademark infringement lawsuit against Epique Realty, accusing the virtual brokerage of unlawfully using the POWER AGENT® brand in its nationwide operations, according to an announcement on Thursday.

The complaint, filed in the U.S. District Court for the Southern District of New York, alleges that Houston-based Epique Realty adopted the POWER AGENT name and “built an entire brand architecture around it” despite being put on notice and asked to stop, according to the announcement.

Darryl Davis Seminars is seeking injunctive relief to bar Epique from using the POWER AGENT mark, disgorgement of profits, treble damages for alleged willful infringement and attorney’s fees.

In addition to Epique Realty, the lawsuit also lists Joshua Miller, Janice Delcid, Christopher Miller, XYZ Corps 1-10 and John and Jane Does 1-10 as defendants. 

Darryl Davis Seminars says it has used the POWER AGENT mark continuously since 1993 through The POWER Program, which it describes as the real estate industry’s oldest and longest-running agent training and coaching platform.

“Our members identify as POWER AGENTS,” said Darryl Davis, CSP, CEO and founder of Darryl Davis Seminars. “It stands for a particular standard of integrity, honesty and a commitment to serving people, not selling to them. They carry that designation into their markets. They are listed in the national referral directory and follow a Code of Ethics. When someone takes that name and uses it to mean something else, our members feel it. And so do I.”

Prior enforcement included Zillow’s rebrand to Premier Agent

Darryl Davis Seminars said it has enforced its POWER AGENT trademark “dozens of times” and claims to have prevailed in every instance. One cited example is a prior challenge to Zillow, which initially launched its agent advertising program under the “Power Agent” name before rebranding it as “Premier Agent.”

The company frames Zillow’s subsequent growth of Premier Agent under a different name as evidence of the strength and enforceability of the POWER AGENT mark.

“Every time we’ve had to defend this mark, we’ve won, and each time our rights have only gotten stronger,” Davis said in the announcement. “We are confident the courts will rule in our favor again. We will always fight for this brand. Always. Any company that uses POWER AGENT without our authorization knows we will aggressively defend our ownership, and we will win. That’s more than a prediction; it’s a track record.”

Epique Realty did not immediately return HousingWire’s request for comment regarding the allegations.

This article was written by Brooklee Han and generated with the assistance of HousingWire Automation, then reviewed by a HousingWire editor before publication.

This post was originally published on here

The lucky orange bag that followed the New York Knicks throughout their historic playoff run is now on view at the Guggenheim Museum. Designed and carried by Jordyn Woods, fiancée of Knicks star center Karl-Anthony Towns, the Tux Clutch Mini bag became a viral good luck charm during the team’s 13-game playoff winning streak and its Game 5 Finals-clinching victory. Woods even carried the bag during last week’s ticker-tape parade held by Mayor Zohran Mamdani. The accessory is on display at the museum’s Café Rebay for five days only, through June 28.

“New York City means so much to Karl and me, so being able to lend a piece of history—and luck—back to the city is truly an honor,” Woods said.

“The Guggenheim is one of my favorite places, and I never imagined that something I designed would one day be on view at the museum,” she added. “So many of us are still in shock over the Knicks’ historic run, and seeing the bag at the Guggenheim somehow makes it all feel real.”

The bag is now synonymous with the Knicks’ first NBA Finals victory in 53 years. Notably, Woods brought it to every game during the team’s 13-game playoff winning streak, but it was absent from Game 3 of the Finals at Madison Square Garden because of a no-bag policy in place for the visit of President Donald Trump.

Following the Knicks’ record-breaking 29-point comeback in Game 4 of the NBA Finals, a 107-106 victory over the San Antonio Spurs that marked the largest comeback in Finals history, Towns posted a video on Instagram where he joked the “bag did its thing tonight” and that “we’ve got to put this in the Whitney or the Guggenheim.”

Now, his wish has come true. The bag, a Tux Clutch Mini from the Woods by Jordyn brand, has truly lived up to its “clutch” name.

“When I heard Karl-Anthony Towns say that maybe the lucky bag should come to the Guggenheim, I was thrilled,” Mariët Westermann, director and CEO, Solomon R. Guggenheim Museum and Foundation, said. “People have always found meaning in objects that embody profound cultural moments, and they often go to great lengths to see them.”

She added, “That is one reason museums exist. Like art, basketball at the stratospheric level of the Knicks thrives on discipline, creativity, and teamwork—and on bringing people together.”

The presentation builds on the Guggenheim’s ongoing exploration of the connection between art, culture, and sports. At its 2025 Gala, the museum honored both the NBA and the NBPA alongside artist Rashid Johnson and highlighted the shared values of “discipline, innovation, and resilience that unite artists and athletes.”

The museum is further embracing New York’s summer of sports through the presentation of “Zidane, a 21st century portrait” (2006), a film portrait of French soccer star Zinédine Zidane by Douglas Gordon and Philippe Parreno.

It is also hosting a pop-up World Cup activation at its Wright Restaurant, rebranded as “Frank’s Pub,” and livestreaming select soccer matches on Friday afternoons.

RELATED:

The post ‘Clutch’ orange bag of Knicks playoff run on view at the Guggenheim first appeared on 6sqft.

This post was originally published here

Apollo Global Management is again limiting how much money investors can withdraw from its largest private credit fund for individual investors, underscoring growing pressure inside one of Wall Street’s fastest-growing investment sectors.

In a regulatory filing published Monday, Apollo’s Apollo Debt Solutions fund said it would cap withdrawals at 5% of outstanding shares after investors requested redemptions equal to approximately 16.8% of the fund, or roughly $2.4 billion. It marks the second consecutive quarter that the fund has imposed withdrawal limits.

The fund, which manages roughly $26 billion in assets, is part of a rapidly expanding category known as private credit. These funds make loans directly to companies outside the traditional banking system and have become increasingly popular among wealthy individuals seeking higher yields than those available from conventional bonds.

Unlike publicly traded mutual funds or stocks, however, investors cannot redeem their money at any time.

Apollo Debt Solutions operates as a “semi-liquid” vehicle, allowing withdrawals only during specific quarterly windows and retaining the ability to limit redemptions if requests exceed predetermined thresholds.

That safeguard is now being tested.

Investors requested withdrawals totaling 16.8% of shares, up sharply from 11.2% the previous quarter. Under the fund’s structure, only a small portion of those requests can be honored immediately.

Apollo expects to process approximately $700 million in withdrawals while receiving roughly $300 million in new inflows, resulting in net outflows of about $400 million.

The redemption activity also revealed a geographic divide.

U.S.-based investors requested withdrawals equal to approximately 4.3% of shares, while international investors accounted for roughly 12.5%, suggesting concerns may be more pronounced among offshore investors.

The pressure comes despite relatively strong performance.

Since launch, Apollo Debt Solutions has generated a total return of approximately 8.1%, and Apollo says demand from large institutional investors such as pension funds and insurance companies remains healthy.

Still, concerns have emerged throughout the private-credit industry.

Investors have increasingly questioned portfolio transparency, underwriting standards, and exposure to sectors facing potential disruption from rapidly advancing technology. Particular attention has focused on lending to software companies and how those borrowers may be affected by the widespread adoption of AI-powered tools.

Apollo executives have signaled that redemption pressure may not be temporary.

Speaking at an investor conference last month, Apollo President Jim Zelter warned that redemption activity could continue as investors attempt to navigate withdrawal limitations and changing market conditions.

“I don’t think it was a one-shot,” Zelter said, suggesting the firm expects continued turbulence.

Apollo is not alone.

Partners Group, one of Switzerland’s largest private-markets firms, recently warned it could impose similar limits across several private-asset funds as redemption requests rise.

The broader issue stems from a structural challenge facing many private-credit products.

These funds promise investors periodic access to their money while holding underlying assets that are inherently difficult to sell quickly. When investor sentiment changes and redemption requests surge, managers often have limited flexibility.

Sunaina Sinha Haldea, global head of private capital advisory at Raymond James, recently warned that the era of simply packaging private credit for retail investors and expecting unlimited demand may be ending.

Industry analysts caution that weaker funds could face increasing withdrawal restrictions, declining investor interest, and reduced access to distribution channels.

The implications extend beyond Wall Street.

Private-credit investments have been aggressively marketed to affluent households and, increasingly, to everyday investors through financial advisers. The appeal has been relatively stable income and returns that often exceed traditional bond markets.

The tradeoff is now becoming more visible.

When markets become uncertain and investors want their money back, access can be limited.

For many investors in Apollo Debt Solutions, that reality is now front and center. Most of those who requested withdrawals this quarter will receive only a portion of their money and will have to wait until the next redemption window to try again.

It serves as a reminder that in investing, higher yields and immediate liquidity rarely come together.

JBizNews Desk | New York
© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

It is one of the oldest mysteries in medicine: Why do fundamentally healthy people drop dead? Sudden cardiac arrest kills upward of 350,000 people a year in the U.S., a fate that is particularly tragic because it’s preventable with an implantable defibrillator.

The challenge is figuring out who needs one.

A study published in Nature Wednesday uses artificial intelligence to identify those people, and pinpoints a possible reason why they so often evade detection. It reports that a culprit once considered relatively benign — cardiac fibrosis, or scar tissue scattered throughout the heart — is commonly present in people with the highest risk of sudden death.

Continue to STAT+ to read the full story…

This post was originally published here

The projects mark the latest step by Prime Minister Mark Carney’s Liberal government to accelerate infrastructure projects aimed at capitalizing on its natural resources, and the construction of new trade corridors to sell its goods to non-U.S. markets.

This post was originally published here

Shipping giant UPS is putting more money behind the part of its business it is betting its future on. On Monday, June 22, United Parcel Service announced a $48 million investment to build 27 temperature-controlled freight cross-dock facilities around the world, a direct play for the booming trade in drugs that must be kept cold, including GLP-1 weight-loss injectables.

“Our global cross-dock facilities strengthen our end-to-end cold-chain capabilities to ensure critical treatments are delivered safely and reliably to patients around the world,” said Kate Gutmann, the company’s executive vice president and president of international, healthcare and supply chain solutions.

The new facilities, spread across the Americas, Europe and Asia, are built to hold shipments at strict temperature bands — 2 to 8 degrees Celsius, 15 to 25 degrees Celsius, and frozen — during the riskiest moment in a drug’s journey: the handoff between air and ground transport. That transfer point is where so-called temperature excursions are most likely, and where a single lapse can ruin a shipment. Industry-wide, cold-chain failures are estimated to cost up to $35 billion a year, and the World Health Organization blames them for up to half of all vaccine waste.

The timing tracks a clear shift in medicine. A new generation of treatments — cell and gene therapies, mRNA platforms and GLP-1 drugs like those driving the weight-loss boom — must stay within tight temperature limits from factory to patient. Demand for shipping temperature-sensitive biologics is projected to grow about 8.3% a year through 2033, reaching roughly $39.1 billion, according to Growth Market Reports.

“Biologics and personalized treatments are driving better, more targeted care for patients,” said John Bolla, president of UPS Healthcare.

The cold-chain push is the clearest sign yet of how UPS is remaking itself. Under chief executive Carol Tomé, the company has deliberately walked away from low-margin volume, cutting shipments for Amazon, long its largest customer, by more than half. By the end of June, UPS will have shed about 2 million Amazon packages a day and some $5 billion in revenue in under two years. To replace it, the company is chasing higher-paying business in healthcare, small business and B2B.

Healthcare is the centerpiece. UPS crossed $3 billion in quarterly healthcare revenue for the first time in early 2026 and has set a target of $20 billion in annual healthcare revenue. Tomé has singled out the rise of drugmakers shipping GLP-1 medicines straight to consumers, rather than to distributors, as a fresh opening.

The pivot has been painful elsewhere: UPS eliminated roughly 48,000 positions and closed 93 buildings in 2025, and plans to cut about 30,000 more jobs and shut additional sorting centers this year. First-quarter 2026 revenue slipped 1.4% to $21.2 billion, though adjusted earnings of $1.07 a share still beat Wall Street.

Analysts are watching whether the trade-off pays off. Barclays equity analyst Brandon Oglenski has noted that UPS expects roughly flat domestic operating income this year despite the steep volume decline — a far better outcome than past downturns, when profits fell much faster than volumes.

The new cross-docks, backed by UPS’s acquisitions of healthcare-logistics firms including Bomi Group, Frigo Trans and Andlauer Healthcare Group, are meant to lock in specialized, high-margin work that ordinary parcel rivals cannot easily copy.

The bet is straightforward: as everyday package delivery grows slower and more crowded, the medicines that need careful handling become the prize. UPS reports its next quarterly results in late July, when investors will look for proof that healthcare and other premium segments are filling the hole left by Amazon. Monday’s $48 million is small against the company’s roughly $89 billion in expected annual revenue, but it points squarely at where UPS believes its growth now lives.

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

Wall Street steadied on Wednesday, June 24, 2026, clawing back a slice of the prior day’s brutal technology selloff as traders braced for Micron Technology’s quarterly results due after the closing bell — the report Wall Street is treating as the make-or-break event of the week. Shortly after the open, the S&P 500 gained 0.35%, the Nasdaq Composite advanced 0.62%, and the Russell 2000 rose 0.41%, while the Dow Jones Industrial Average slipped 0.17%.

The rebound came after Tuesday’s drubbing, when the S&P 500 sank 1.44% to 7,365.46 and the Nasdaq dropped 2.21% to 25,587.04, with the Dow off 45.87 points to 51,666.84.

All eyes are on one company. Micron makes the memory chips inside phones, laptops and AI data centers, and the stock has been on a tear — it hit an all-time high Monday and ended Tuesday at $1,051.77 a share. It has gained more than 300% this year. Analysts polled by FactSet expect earnings of $20.83 a share on revenue of $35.75 billion. But the run cuts both ways: Jay Woods, chief market strategist at Freedom Capital Markets, warned the stock could fall after the report, while Louis Navellier, chairman of Navellier & Associates, called it the grand finale to a stunning earnings season.

The pressure started overseas. A sell-off in memory giants SK Hynix and Samsung Electronics in South Korea, both down more than 12%, dragged the benchmark Kospi to a 10% loss earlier this week. On Wednesday the Kospi recovered 3.3%, helping limit losses across Asia. Stoking caution, SK Hynix is planning a nearly $30 billion U.S. listing, one of the largest of its kind, which would add more supply to the AI memory group.

There’s a shake-up coming to the most famous gauge in the market, too. Alphabet will replace Verizon in the Dow Jones Industrial Average, S&P Global said Tuesday, further expanding big tech’s footprint in the blue-chip average.

Market movers

The morning’s standout was a name straight off the dinner menu. Wendy’s soared about 23% in premarket trading, driven by a new CFO appointment and a wave of retail-investor “meme” enthusiasm in heavily shorted shares. The burger chain said it named former Potbelly executive Steven Cirulis as chief financial officer and chief strategy officer, and the stock jumped on heavy volume.

Among other gainers, Sunrun climbed 19.1% and Churchill Downs rose 7%.

Housing offered a bright spot. KB Home added 3% after posting fiscal second-quarter revenue of $1.11 billion, topping the $1.10 billion analysts expected, per LSEG.

On the downside, Hertz Global Holdings tumbled 22%, Silgan Holdings fell 9.5%, and Cerebras Systems lost 9.1%. Cerebras slid after its first earnings report since its May IPO, in which it forecast a decline in core gross margin.

Analysts were active. IBM posted roughly 5% gains this week after an upgrade to overweight from neutral at JPMorgan Chase, with the analyst citing greater confidence in software acceleration in the second half. On Wednesday morning, UBS reiterated a Buy rating on Bloom Energy with a $322 price target, while KeyBanc analyst Bradley Thomas kept a Sector Weight rating on Best Buy.

Commodities and volatility

Falling energy prices kept easing pressure on households. Brent crude dropped another 3% Wednesday morning, with the August contract slipping below $75 a barrel. The slide tracked progress in U.S.Iran talks; President Donald Trump said Tuesday that “Iran has fully and completely agreed to highest level Nuclear inspections long into the future.”

Gold cracked a key line. Gold futures dipped below $4,000 for the first time in seven months, last trading around $3,987.30 — the first time under that level since Nov. 18, 2025. Silver fell 5% as the dollar strengthened.

What’s ahead Wednesday

The calendar carries reports that hit households directly. May new-home sales are due, alongside the Federal Reserve’s annual bank stress-test results, with earnings later from Micron, Paychex and Jefferies Financial. The stress-test outcome matters for savers, since banks that pass often raise their dividends.

But the day belongs to one report. As TheStreet’s James “Rev Shark” DePorre put it, the morning’s bounce sets up Micron as the most important single event of the week and arguably the next month. A strong number could steady the chip trade that has whipsawed markets for days; a weak one could reignite the rout.

JBizNews Desk | New York
© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

Want to stay on top of the science and politics driving biotech today? Sign up to get our biotech newsletter in your inbox.

Good morning. Several of my colleagues are at the BIO conference in San Diego this week (and two of them have dispatches below). Say hi if you see them!

The need-to-know this morning

  • Regenxbio said it will apply for accelerated approval for its gene therapy for Duchenne muscular dystrophy, amid industry hopes the FDA is showing renewed openness to rare disease treatments.

Ophthalmology startup catches investors’ attention

Ollin Biosciences has raised $330 company in a Series B round, one of the largest such rounds for a biotech company in the last two years.

Continue to STAT+ to read the full story…

This post was originally published here

The Jerusalem Film Festival has announced the international program for its 43rd edition, which runs from July 9-19, and which features some of the most talked-about films of the past year.

These will include the winners of the Palme d’Or at Cannes and the Golden Bear at the Berlin International Film Festival, as well as top prize winners from other major festivals, including San Sebastián, Toronto, Tallinn, SXSW, Tribeca, and Rotterdam.

The international lineup, which includes feature films, documentaries, animated films, and experimental works, will be screened in the four auditoriums of the Jerusalem Cinematheque and at Lev Smadar. The full program will be available on the festival website, and ticket sales will open on June 26.

More than three-quarters of the international films on the program will be shown exclusively at the Jerusalem Film Festival, meaning they do not yet have Israeli distributors and may not be shown again in Israeli theaters.

The festival will also host more than 20 international guests, including directors, producers, and actors from around the world.

Among the highlights of the international program is Fjord, directed by Cristian Mungiu, the Romanian filmmaker who made 4 Months, 3 Weeks and 2 Days. The film, which won the Palme d’Or at Cannes, stars Oscar nominees Sebastian Stan and Renate Reinsve, who also appears in Sentimental Value, currently playing in theaters across Israel.

Other Cannes prizewinners include Paweł Pawlikowski’s Fatherland, which was one of the winners of the Best Director Award, and La Bola Negra, an epic drama produced by Pedro Almodóvar, which was the co-winner of the directing award for Javier Ambrossi and Javier Calvo.

Other Cannes award winners include The Dreamed Adventure, which won the jury prize, and A Man of His Time, a drama about the Vichy regime during World War II, which won the screenplay award, are Cannes award winners.

The lineup will also feature Paper Tiger, the new film by Jewish-American director James Gray, starring Adam Driver and Scarlett Johansson, which was in the official competition at Cannes, and The Samurai and the Prisoner, the latest film by Japanese master Kiyoshi Kurosawa, which was also an official selection at Cannes.

The Golden Bear winner from Berlin, Yellow Letters, directed by Ilker Çatak, whose 2023 film, The Teachers’ Lounge, was nominated for an Oscar, will be screened, as will A New Dawn, an anime film from the Berlin competition.

Other titles will include Falling Hercules, which won both the debut film award and the international critics’ prize (FIPRESCI) at the Tallinn Black Nights Film Festival and which stars Dar Salim of Game of Thrones.

Barrio Triste, the debut feature by Stillz, best known as the music video director for Bad Bunny, from the Orizzonti program at Venice, and Skateboarding Is Not for Girls, which won the Nora Ephron Award at the Tribeca Festival, will also be shown.

Israeli musician Noga Erez will be the subject of Noga, a documentary that was also shown at the Tribeca Festival.

Documentary highlights include Robert Richardson: The White Devil, about the legendary cinematographer of Kill Bill, Platoon, and Shutter Island; Silent Flood, winner of the cinematography award at IDFA; and No Mercy, a documentary examining films made by women directors over the years, featuring Céline Sciamma, Catherine Breillat, Ana Lily Amirpour, Alice Diop, and others.

Classics to be screened at the Jerusalem Film Festival

The Classics section will include a tribute to Roberto Rossellini, the legendary neorealist director who made Open City, which will feature the new documentary Roberto Rossellini: Living Without a Script, winner of the Donatello Award, alongside four of his films: India: Matri Bhumi, Germany Year Zero, Fear, and Journey to Italy, which starred Ingrid Bergman.

The section will also feature new restorations of the classic 1957 Western 3:10 to Yuma, based on a novel by Elmore Leonard and starring Glenn Ford and Van Heflin; Andrzej Wajda’s Oscar-nominated The Promised Land, and the lost Soviet cult film Dead Mountaineer’s Hotel.

The festival will open on July 9 at the Sultan’s Pool amphitheater, in front of an audience of about 6,000 spectators, with a screening of Moshe Rosenthal’s new film, Tell Me Everything, which had its world premiere at Sundance.

As always, the Jerusalem Film Festival will offer audiences a first look at many of the year’s most important Israeli movies, alongside its extensive international lineup. The festival was founded by Israel Prize laureate Lia van Leer, who also founded the Jerusalem Cinematheque, and it is considered Israel’s leading film festival.

It is expected to attract about 70,000 moviegoers and guests from Israel and abroad. The festival director is Roni Mahadav-Levin, who is also the CEO of the Jerusalem Cinematheque, and the artistic director is Orr Sigoli.

For more details, go to the festival website at https://jff.org.il/en

This post was originally published on here

Diplomats running the International Criminal Court’s oversight body have decided that prosecutor Karim Khan had an inappropriate sexual relationship with a junior staff member and should be fired, two copies of its decision showed.

It is the first time details of the decision on accusations of misconduct brought by a female lawyer in 2024 against Khan, a 56-year-old British barrister, have been reported, including the recommendation that he be dismissed.

The decision by the executive bureau of the ICC’s governing body will inform a vote on his fate by the ICC’s 125-member Assembly of States Parties in New York on July 24. It is unclear which way the vote will go.

Khan has repeatedly denied wrongdoing. “The decision is unlawful, procedurally unfair and unsupported by evidence,” his lawyers said in comments sent to Reuters on Tuesday. They cited a review by judges that found the evidence was insufficient to prove the allegations “beyond a reasonable doubt.”

Majority vote at ICC required for dismissal

The bureau set aside the advisory opinion by the three external judges and concluded that it did have enough evidence to make a decision, citing the report of a specialized yearlong UN investigation commissioned by the court.

“The evidence establishes beyond a reasonable doubt that the prosecutor (…) engaged in a sexual relationship with (the victim),” a copy of the June 8 decision reviewed by Reuters said. The relationship started in March 2023 and “escalated over time and that, in the context of that power imbalance, a sexual relationship could never be appropriate.”

The 27-page document, shown to Reuters by two independent sources, said Khan committed a serious breach of duty and serious misconduct.

“His behavior escalated over time resulting in him engaging in non-consensual sexual contact with her in his office, at his private residence and whilst on mission,” the document quoted the UN report as having found.

The bureau recommended “removal from office of the elected official, prosecutor Karim Khan,” the document said.

At least 63 of the 125 member states of the world’s criminal court of last resort are required to pass his dismissal.

Dismissal would not impact warrants

A former defense attorney who took up the top job at the court five years ago, Khan has been suspended by the ICC and by Britain’s independent regulator for court lawyers, which will consider his future in coming weeks.

A spokesperson for the ICC declined to comment. The bureau, a core group of 21 member states tasked with reviewing the case, did not respond to a request for comment.

The allegations against Khan and the findings of the court body have deepened the prolonged crisis at the war crimes court, which is also under US sanctions over investigations into the United States and Israel.

Khan’s supporters have suggested that he has become a political target for seeking arrest warrants in 2024 ​for Israeli officials over Israel’s conduct in its war in Gaza.

The US has imposed sanctions on 11 ICC judges and prosecutors, including Khan, citing the ICC’s ​arrest warrants against Prime ​Minister Benjamin Netanyahu ⁠and former defense minister Yoav Gallant, and for a past probe into US troops in Afghanistan.

The warrants will remain even if Khan were to be dismissed because they were confirmed by ICC judges. Khan’s deputies have run the prosecutor’s office since he went on voluntary leave last May.

This post was originally published on here

The IDF announced on Wednesday that IDF Chief of Staff Lt.-Gen. Eyal Zamir had held a meeting the day before with a variety of unnamed leading rabbis from leading religious zionist Hesder Yeshivot to address the ongoing controversy over a pilot program to integrate women into the IDF Tank Corps.

While several prominent Hesder Yeshivot rabbis were present, The Jerusalem Post has learned that rabbis from one-third of Hesder Yeshivot who have announced a boycott of the move were not present.

It was unclear whether opposition rabbis were absent because they were not invited or because they declined the invitation.

In general, Zamir and the IDF have sought to engage in dialogue with the opposition rabbis, but to date, these rabbis have made cutting off contact on the issue part of their strategy and a sign of their resolve to resist the change. 

Regarding the rabbis present, Zamir told them about the IDF’s desperate need for additional soldiers from any sector of society, noting that women are a critical part of the pool of soldiers in Israeli society.

The IDF chief emphasized that it was his strategy and goal to ensure that women, religious zionists, haredim, and other sectors could all serve in the IDF, even if some special pathways of service have been and will continue to have to be developed to enable the military to accommodate the special needs of certain sectors.

According to the IDF statement, the rabbis present praised Zamir for his efforts to walk the complex tightrope required to make the IDF accommodating of different groups.

They also presented anecdotes and systemic issues that their yeshiva student graduates have encountered during  IDF service and which they requested Zamir help address.

Also present at the meeting was IDF Deputy Chief Maj. Gen. Tamir Yadai, IDF Military Advocate General, Maj. Gen. Itay Offir, IDF Chief Rabbi, Brig. Gen. Rabbi Eyal Karim, senior IDF Human Resources Command official, Brig. Gen. Shai Tayev, and others.

Unusually, the Post has learned that IDF Human Resources Command Chief Maj. Gen. Dado Bar Kalifa, who is primarily responsible for many special sector issues, was absent due to an unexplained personal matter.

IDF’s pilot program for women to serve in tank units

On June 17, Zamir announced that the pilot program to try out women serving in tank units will begin in November as scheduled, despite opposition from around one-third of the Hesder Yeshivot, which provide significant numbers of religious zionist combat soldiers.

Zamir said that at most, the female tank pilot will lead to a company of tanks run by women, a relatively small number out of the multiple brigades of tanks, each of which is made up of multiple battalions, each of which is made up of multiple companies.

He also warned that the female tank soldiers must live up to the general physical standards for serving in the unit, and also that past pilot programs in other areas had seen an unusual number of injured women during training processes, which he said should be avoided.

On June 11, 25 Hesder Yeshivot said they would ban their orthodox religious zionist male students from joining the tank corps in protest of the pilot program.

According to the IDF, the program is only a pilot program, and it is unclear whether it will lead to placing women permanently in the tank corps.

Further, the pilot program involves establishing women-only tank units, such that neither secular nor religious men would be serving with women within the same tank or unit, the primary concern of the religious zionist institutions that are protesting.

From their perspective, it is improper modesty and could lead to problematic mingling between men and women in such a small, secluded space if men and women were to serve in the same tank or tank units.

Traditionally, religious zionist hesder graduates serve in male-only units, and usually in units that are overwhelmingly only hesder students or at least men from orthodox backgrounds.

IDF must offer equal opportunities to men and women

The IDF appreciates the hesder program because virtually all of the program’s students, though they serve less time than other Israeli societal sectors, serve in combat units, and many go on to become mid and high-level officers.

But the IDF was ordered by the High Court of Justice on April 13 that it was under a legal duty to implement, as far as possible, equal opportunity for women and men in access to combat roles, including beginning its long-delayed pilot integration of women into the tank corps by the November 2026 draft cycle.

Moreover, given that the government has failed to integrate haredim into the IDF both before and since October 7, 2023, and the IDF has lost up to around 25,000 soldiers to physical or emotional harm in recent years, leaving a massive gap in human resources, the IDF has been pushing hard to fill combat roles with women.

One woman was even recently accepted to the elite Sayeret Matkal special forces, and women have taken on relatively new ground combat command roles as brigade and battalion commanders, and even a missile boat commander.

Despite the IDF putting out a public response earlier in June, noting the various ways it is still protecting hesder students from serving with women in tank units, the number of institutions barring their students nearly doubled on June 11 from an original 13.

That said, two-thirds of the hesder yeshivot have not yet pulled out, and Tuesday’s meeting showed that Zamir is working hard to maintain their support. 

Some may be waiting to see how the pilot program pans out and whether the IDF keeps its promise to maintain separate tank units for women, whereas artillery and infantry units now have mixed male and female units.

Women in IDF slam rabbis’ protest of tank unit pilot

Meanwhile, hundreds of female officers wrote to Zamir and Defense Minister Israel Katz on Wednesday, demanding that they halt the intervention of religious Zionist rabbis about women’s participation in the Tank Corps.

Presumably, all or most of the objections were directed at the rabbis who opposed women’s integration into tank units, rather than at the rabbis who met with Zamir in a supportive manner on Tuesday. The officers, including six brigadier generals and 35 colonels and lieutenant colonels, warned that the current dynamic could encourage insubordination.

They said that the IDF could be viewed as surrendering to outside pressure, which could lead to the idea of “the people’s army” imploding from within. The officers wrote, “Female soldiers are not a matter for debate or a problem to be stopped, but a set operational fact and a strategic asset.”

The initiator of the letter, Moren Zer Katzenstein, a former officer and a candidate in the Democrats party primary, said the command of the IDF must remain in the hands of commanders alone. 

Amir Bohbot contributed to this report.

This post was originally published on here

At the premiere of his new movie, Tuner, in Tel Aviv on Tuesday night, Fauda star Lior Raz said, “We are simply not afraid,” when asked about being an Israeli actor in Hollywood these days.

Raz has a key supporting role in the movie as an Israeli gangster in New York who enlists Niki (Leo Woodall), a piano tuner and prodigy with perfect pitch, to join his crime gang as a safecracker. Niki works with an older musician and tuner, Harry, played by Dustin Hoffman.

Raz’s character is ruthless and clever, and much of the comedy in the movie comes from his dark sense of humor, and the interplay between him and his other Israeli partners. The movie opens in theaters throughout Israel on Thursday.

Raz, who has starred in a number of international movies and series following his success in Fauda, the popular counterterrorism drama series, said he met the director of Tuner, Daniel Roher, in Los Angeles. Roher won an Oscar in 2023 for the documentary, Navalny, and offered Raz the role, without asking him to audition. 

‘Of course you say yes’ when offered a role, Raz says

“So, when someone offers you a part in a film like this, of course you say yes. I really believe in this film. It has comedy, drama, and music, and New York is amazing in it. It was really fun to work on this movie,” Raz said. “And besides me, there are two other Israeli actors in the film who appear with me — Gil Cohen and Nisan Sakira. They are wonderful actors.”

Asked about working with two-time Oscar winner Dustin Hoffman, one of the world’s leading actors, Raz mentioned that Hoffman’s son, director Jake Hoffman, is married to an Israeli woman and has visited Israel a number of times.

He went on to say, “Dustin really has a good soul, and you can see that in his acting. We learned a lot just from watching him, from seeing how he works. In the end, he works from a place of complete quiet. He really is a very special person. I think his humility comes through in his acting.”

While he noted he did not have scenes with Hoffman, he said he stayed on set and watched while Hoffman acted and spent time talking to him on the set. “He is simply enjoyable and fun… No matter how famous or great actors are, when they are in the room acting opposite another person, it does not matter who you are. Once the scene starts, none of that matters.”

Speaking about what it is like to be an Israeli actor in Hollywood these days, he said, “I think that right now, in the world, it is not simple. But in the end, if someone loves you, they love you. You keep moving forward. We are simply not afraid. We are not afraid to be who we are, and we are not afraid to say who we are.”

Finally, when he was asked to give advice to young actors in the audience, he said, “I can say about myself that I did not succeed for many, many years as an actor. I think that the moment I started initiating things, things started happening. As an actor, you cannot just sit and wait. You have to act, to give of yourself, and to recognize opportunities.”

The fifth season of Fauda, which he co-created with Avi Issacharoff, covers the October 7 massacre by Hamas and its aftermath, and is currently showing on Yes Action and Yes VOD in Israel. It is set to be released around the world on Netflix in a few months. 

This post was originally published on here

India has sent ships back through the Strait of Hormuz for the first time since February, marking a significant step toward restoring one of the world’s most important trade and energy corridors after nearly four months of disruption.

Speaking in New Delhi on Tuesday, Randhir Jaiswal, spokesperson for India’s Ministry of External Affairs, confirmed that two Indian vessels have now crossed into the Persian Gulf, while additional India-bound ships have successfully navigated the waterway as commercial traffic slowly resumes.

The development comes after months of turmoil triggered by the conflict involving the United States, Israel, and Iran, which effectively shut down one of the global economy’s most critical shipping routes.

The Strait of Hormuz connects the Persian Gulf to international waters and serves as a major artery for global energy supplies. Before the conflict, roughly one-quarter of the world’s seaborne oil and approximately one-fifth of global liquefied natural gas exports moved through the narrow passage.

For India, one of the world’s largest energy importers, the route is particularly vital.

Much of the country’s crude oil, fuel products, and fertilizer shipments travel through Hormuz, making uninterrupted access critical for economic stability and agricultural production.

That access was severely disrupted after hostilities erupted on February 28.

During the conflict, merchant vessels faced attacks, naval mines were deployed, and commercial shipping activity was dramatically reduced. At various points, hundreds of vessels became stranded on both sides of the waterway as governments and shipping companies searched for safe alternatives.

India spent months coordinating diplomatic efforts to help protect and evacuate vessels connected to its shipping network while monitoring the safety of Indian crews operating in the region.

Conditions began improving following a preliminary agreement reached between the United States and Iran on June 17.

Under the arrangement, commercial vessels were granted a 60-day period of secure passage through the strait while broader negotiations continue. The agreement also included commitments aimed at restoring normal maritime traffic and improving navigation safety.

Since the announcement, shipping activity has gradually increased.

According to Indian officials, 11 India-bound vessels have already crossed the strait, including multiple crude-oil tankers carrying approximately 285,000 metric tons of oil each, an LPG carrier, additional energy shipments, and several bulk cargo vessels transporting fertilizer.

The latest crossings mark an important milestone because traffic is now moving in both directions rather than solely evacuating vessels from the region.

Jaiswal said approximately 10 Indian-flagged ships remain in the Gulf from before the conflict began, but the successful return of outbound traffic suggests confidence is slowly returning to the route.

The economic implications extend far beyond India.

The disruption of Hormuz contributed to higher global energy prices throughout the spring, increased transportation costs, and added inflationary pressure across major economies. As more vessels return to normal operations, pressure on oil prices, shipping rates, and supply chains has begun to ease.

For India, the reopening is particularly important as energy imports stabilize and fertilizer shipments resume ahead of key agricultural seasons.

Regional diplomatic efforts involving Qatar and Pakistan have also helped facilitate discussions aimed at restoring commercial activity and reducing tensions in the shipping corridor.

Despite the progress, significant risks remain.

The broader agreement between Washington and Tehran has not yet been finalized, and the current arrangement remains temporary. Iran has also indicated it may seek transit-related fees after the initial toll-free period expires, a proposal that faces opposition from both the United States and Gulf nations.

Shipping companies and marine insurers continue to monitor conditions closely, and many operators remain cautious about fully restoring pre-conflict traffic levels.

Still, after months in which India’s focus was largely on moving ships out of the Gulf, vessels are now moving back in.

For one of the world’s most important trade routes, it is an early sign that global commerce may finally be beginning to return to normal.

JBizNews Desk | New York
© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

The Real Brokerage Inc. has surpassed 35,000 agents across the United States and Canada as the publicly traded cloud brokerage marks its 12th year in business, the company announced Wednesday.

Real now ranks among the top five U.S. brokerages by transaction side count and sales volume, according to the 2026 RealTrends Verified Brokerage Rankings, and has added more than 15,000 agents since the start of 2024. More than 3,200 agents joined in the first half of 2026 alone, the company said in its announcement. 

“Since our founding in 2014, our mission has been simple: build a company that serves agents better than anyone else in the industry,” Tamir Poleg, Real’s chairman and CEO, said in the release. “Surpassing 35,000 agents is an incredible milestone, but more importantly, it’s validation that agents are looking for a partner that puts their success first.”

Real has also leaned into putting current or former agents in leadership roles. Recent appointments include:

  • Ken Pozek, a former agent and team leader, to the board of directors
  • Dusty Oglesby as vice president of agent learning and development
  • Jason Cassity as chief growth officer

“Agents today are looking for more than traditional brokerage support,” Cassity said. “They want access to innovative technology, meaningful professional development, a supportive community and opportunities to build long-term wealth.”

Real said it now has a presence in all 50 states and Canada. It cautioned in the release that its growth outlook is subject to risks including real estate market slowdowns and its ability to attract and retain agents.

In April, Real announced its proposed acquisition of REMAX, which would add roughly 145,000 agents and 8,500 offices to the cloud-based brokerage’s roster. 

The all-stock and cash deal values REMAX at roughly $880 million and will create a new holding company called Real REMAX Group that will support more than 180,000 real estate professionals across over 120 countries and territories. The deal is expected to close in the second half of 2026. 

This article was written by Brooklee Han and generated with the assistance of HousingWire Automation, then reviewed by a HousingWire editor before publication.

This post was originally published on here

Fannie Mae will soon announce initiatives to expand its title waiver pilot program, Federal Housing Finance Agency (FHFA) Director Bill Pulte said Tuesday.

The program, announced by President Joe Biden during his March 2024 State of the Union address, aimed at reducing closing costs as part of a broader “war on junk fees.” It allows approved lenders to use automated title review processes during loan manufacturing and prior to loan purchase.

Currently, the program is limited to certain refinance loans with loan-to-value ratios of less than 80% in specific geographic areas.

“Fannie Mae is working actively to expand its title pilot program, especially on title insurance for home refinancings,” Pulte wrote in an X post on Tuesday. “As long as it is safe and sound, our team is pushing for efficiencies and lower costs in title insurance.”

Pulte also posted that Freddie Mac is “hyper focused on reducing costs up and down the home closing chain.”

Top U.S. lenders, including United Wholesale Mortgage (UWM) and Better, joined the program in late 2024, paving the way for other companies to follow.

However, analysts at Keefe, Bruyette and Woods (KBW) noted on Wednesday morning that the initiative’s impact has been limited so far.

“The title pilot remains very small, and it is only for refinances, which account for under 10% of revenues,” the KBW analysts wrote. “So, we don’t think an expansion of the program will be meaningful to title insurance earnings.”

The program faced headwinds in its inception. The title industry, rejecting the “junk fees” label, argued that the waiver introduces unnecessary risk to the housing market. Industry advocates hoped the Trump administration would halt its advancement, and a bipartisan group of lawmakers previously urged the FHFA to pause the program until it could undergo a more thorough public review.

Doma and Westcor Land Title Insurance Co. serve as the title vendor partners for the pilot. In April, Opendoor agreed to acquire the closing and escrow operations of Doma Holdings. If approved, the acquisition will feature a three-way partnership involving Opendoor, Doma and Fannie Mae to further support the program.

This post was originally published on here

For most of this year, the story of the U.S. dollar was weakness. It started 2026 near a four-year low, and many forecasters expected it to keep falling. That outlook has changed dramatically. The dollar has surged to its strongest level of the year, putting pressure on currencies, stock markets, and economies across the developing world.

The clearest signs emerged Tuesday in Asia. The People’s Bank of China set its official reference rate at 6.8170 yuan per dollar, marking the third consecutive day it guided the currency lower and the weakest setting since June 8. In India, the central bank injected liquidity into the banking system as the rupee slipped to a six-day low, with the dollar climbing to roughly 94.92 rupees. Meanwhile, the U.S. Dollar Index, which tracks the dollar against a basket of major currencies, rose above 101 for the first time since last May.

Two major forces are driving money back into the dollar.

The first is fear. A global selloff in technology and semiconductor stocks sent investors searching for safety, and the U.S. dollar remains the world’s preferred safe-haven asset. When investors sell riskier assets in markets such as South Korea, Brazil, and India, much of that money flows into dollar-denominated investments. The result is a stronger dollar and weaker local currencies. South Korea’s Kospi index fell roughly 10% Tuesday, although it remains up nearly 95% for the year.

The second factor is interest rates. The Federal Reserve, led by Chair Kevin Warsh, has adopted a more hawkish tone, with markets increasingly expecting a rate hike before the end of the year rather than a cut. Higher U.S. interest rates make Treasury bonds and dollar-based savings more attractive, drawing capital away from emerging markets and back into the United States.

That trend reverses one of the biggest drivers behind last year’s rally in developing-market stocks, when a weakening dollar encouraged investors to seek higher returns abroad. Meera Chandan, co-head of global currency strategy at J.P. Morgan, noted that the dollar is benefiting from renewed confidence in U.S. assets, particularly the continued strength of American technology companies.

A stronger dollar creates challenges for emerging economies because much of their debt is denominated in dollars. As the dollar rises, those debts become more expensive to repay in local currencies. Imported goods such as oil, food, and industrial equipment also become more costly, adding inflationary pressure. At the same time, foreign investors see their returns reduced when local gains are converted back into a stronger dollar, making developing markets less attractive.

The pressure was visible across currency markets Tuesday. The euro fell to a new low for the year, slipping below $1.14. The notable exception was the Japanese yen, which remained relatively stable after Japan’s finance minister highlighted discussions with U.S. Treasury Secretary Scott Bessent. The Bank of Japan’s recent interest-rate increase also provided support for the currency. Meanwhile, the offshore Chinese yuan traded within a relatively narrow range between approximately 6.75 and 6.80 per dollar.

The dollar’s rise also creates a political challenge. President Trump has repeatedly argued that a weaker dollar helps American exporters compete overseas. A dollar trading at its strongest level of the year works against that objective. While a stronger dollar lowers the cost of imports and makes international travel cheaper for Americans, it can hurt large U.S. corporations that generate significant revenue overseas, since earnings earned in weaker foreign currencies translate into fewer dollars when brought home.

For now, the move has been swift. Only a few months ago, investors were debating how much further the dollar could fall and how much higher emerging-market stocks could climb. Whether this becomes a short-term flight to safety or the beginning of a longer-term dollar rally will likely depend on two key factors: how severe the global technology selloff becomes and whether the Federal Reserve follows through with additional interest-rate increases.

JBizNews Desk | New York

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

Mortgage applications increased 1.0% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey for the week ending June 19, 2026. This week’s results include an adjustment for the Juneteenth holiday.

On an unadjusted basis, the index decreased 10% compared with the previous week.

The refinance index increased 3% from the previous week and was 17% higher than the same week one year ago. The seasonally adjusted purchase index decreased 1% from one week earlier, and the unadjusted purchase index decreased 12% compared with the previous week and was 3% higher than the same week one year ago.

“Mortgage rates changed little over the course of last week, despite the more hawkish tone from the FOMC at its June meeting,” said Mike Fratantoni, MBA’s SVP and chief economist. “Purchase application volume edged slightly lower, while refinance activity posted modest gains. Despite the elevated mortgage rates and overall economic uncertainty, mortgage application volume is running 8% above year-ago levels.”

The refinance share of mortgage activity increased to 41.5% of total applications from 40.3% the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 8.2% of total applications.

The Federal Housing Administration (FHA) share of total applications increased to 17.9% from 17.5% the week prior. The U.S. Department of Veterans Affairs (VA) share of total applications decreased to 12.3% from 12.9% the week prior, while the U.S. Department of Agriculture (USDA) share of total applications increased to 0.5% from 0.4%.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($832,750 or less) decreased to 6.59% from 6.60% and rates for 30-year fixed-rate mortgages with jumbo loan balances (greater than $832,750) decreased to 6.52% from 6.62%.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA remained unchanged at 6.25% and the average contract interest rate for 15-year fixed-rate mortgages remained unchanged at 6.02%. The average contract interest rate for 5/1 ARMs decreased to 5.68% from 5.86%.

Xactus Mortgage Intent Index

Xactus‘s Mortgage Intent Index — which analyzes aggregated, anonymized credit-pull activity across the Xactus Intelligent Verification Platform — decreased week over week to a reading of 119.1, a change of -10.38%.

chart visualization

“The Xactus Mortgage Intent Index declined approximately 10% from the prior week, largely reflecting the impact of the Juneteenth holiday. On a year-over-year basis, the index was approximately 2% lower than the same week last year, which may also have been influenced by the holiday creating a long weekend,” said Thomas Lloyd, Xactus’ chief strategy officer.

Lloyd continued, “Overall, mortgage intent remains subdued as interest rates have remained relatively unchanged over the past month, providing little catalyst for a meaningful increase in borrower activity.”

This post was originally published on here

US President Donald Trump confirmed that inspectors from the International Atomic Energy Agency (IAEA) and the US will be allowed to enter Iran to locate enriched uranium in a phone call with Fox News’s Trey Yingst on Wednesday. 

According to Yingst, Trump also claimed that there is “no rush” regarding when the inspections will be carried out. 

IAEA head Rafael Grossi also confirmed on Wednesday that inspections are “going to happen,” according to the Associated Press.

Grossi emphasized that the recently signed US-Iran Memorandum of Understanding “says explicitly that the nuclear activities that are going to be carried out with regards to the nuclear material facilities will be supervised by the IAEA.”

This is a developing story.

This post was originally published on here

Top of the morning to you. The middle of the week is upon us and, since you made it this far, why not forge ahead? After all, there is always light at the end of the proverbial tunnel. You never know what you may accomplish. So please join us as we celebrate this notion with a cup or three of delicious stimulation. Our choice today is pistachio. As always, you are welcome to join us. Meanwhile, we have assembled the latest menu of tidbits to help you along. So please dig in. Have a smashing day and please feel free to forward any secrets you come across. Our “in basket” is always open.…

White House policy aide Heidi Overton is among the final candidates being considered by the Trump administration to lead the U.S. Food and Drug Administration, Bloomberg News reports. No final decision has been made, though, and it is unclear whether Overton has the support of U.S. Health and Human Services Secretary Robert F. Kennedy Jr. Overton is a deputy assistant to the president for domestic policy at the White House working on health issues. She previously worked at the think tank America First Policy Institute. Overton is a medical doctor and has a doctorate in clinical investigation from Johns Hopkins University. She also was a White House fellow in the first Trump administration.

Eli Lilly expects to launch its weight loss pill in Europe and the U.K. in the second half of 2026 or early ​2027, with the drugmaker targeting the out-of-pocket telehealth market as it ‌has done in the United States, Reuters says. Lilly still plans to pursue public reimbursement from European governments where possible, even as new U.S. drug pricing policies complicate negotiations with health authorities. And the company will do so in ways that are consistent with its interpretation of the Trump administration’s “most-favored nation” framework, which links prices to U.S. net prices ⁠adjusted ​for countries’ income levels.

Continue to STAT+ to read the full story…

This post was originally published here

The U.S. Department of Justice on Tuesday announced one of the largest healthcare fraud crackdowns in American history, charging 455 defendants, including 90 physicians, nurse practitioners, pharmacists, and other licensed medical professionals, in alleged schemes involving more than $6.5 billion in false Medicare and Medicaid claims.

The nationwide operation, known as the 2026 National Health Care Fraud Takedown, spans 56 federal districts and 45 states and territories, with participation from 50 state Medicaid Fraud Control Units, marking the largest coordinated Medicaid enforcement effort ever undertaken by federal authorities.

Announcing the results in Washington, Deputy Attorney General Todd Blanche called the operation a historic effort to protect taxpayers and patients from large-scale healthcare fraud.

Officials said the cases involve a wide range of alleged criminal activity, including fraudulent billing schemes, illegal kickbacks, unnecessary medical procedures, opioid-related offenses, identity theft, and organized efforts to exploit federal healthcare programs.

The sheer scale of the alleged fraud stunned investigators.

According to the Justice Department, the schemes collectively sought to generate more than $6.5 billion in fraudulent claims submitted to Medicare, Medicaid, and other healthcare programs funded by American taxpayers.

Several of the cases involved staggering amounts.

In one Arizona-based investigation, prosecutors allege a healthcare executive orchestrated a scheme involving more than $1 billion in taxpayer-funded reimbursements tied to wound-care products and skin graft treatments. Authorities claim some patients were billed more than $1 million each, while proceeds allegedly funded luxury homes, high-end vehicles, jewelry, and overseas investments.

Federal prosecutors also announced charges against multiple defendants connected to alleged fraudulent billing involving amniotic wound allografts, an area that investigators say became a major source of abuse within Medicare reimbursement programs.

Officials estimate one company alone generated more than $4 billion in Medicare billings through alleged fraudulent activity.

Beyond the criminal charges, federal officials emphasized the direct financial impact on taxpayers.

Healthcare fraud ultimately increases costs throughout the healthcare system, contributing to higher government spending, increased taxpayer burdens, and rising costs borne by beneficiaries.

According to investigators, some of the alleged fraudulent billing was so extensive that it threatened to increase healthcare costs across the Medicare system if left unchecked.

The operation also showcased a growing shift in how healthcare fraud is being investigated.

Federal agencies increasingly rely on advanced data analytics, machine learning, and artificial intelligence systems to identify suspicious billing activity before payments are issued.

Officials said those tools helped prevent more than $4 billion in fraudulent claims from being paid out.

The Centers for Medicare & Medicaid Services (CMS) reported issuing approximately 1,000 payment suspensions during the first half of 2026 alone, representing a dramatic increase compared with prior years.

Authorities also seized more than $182 million in cash and assets, including luxury vehicles, real estate, jewelry, bank accounts, and other property allegedly connected to the schemes.

Among the items seized were a Maserati, luxury watches, and high-value jewelry purchased with proceeds investigators say originated from fraudulent healthcare reimbursements.

Health and Human Services Secretary Robert F. Kennedy Jr. said some defendants allegedly placed profits ahead of patient care by ordering unnecessary tests, prescribing unneeded products, and exploiting vulnerable patients to maximize billing revenue.

CMS Administrator Dr. Mehmet Oz said the agency is increasingly focused on preventing fraud before taxpayer dollars leave the system.

“CMS is done playing catch-up,” Oz said, pointing to new technology-driven enforcement efforts that allow regulators to identify suspicious activity in near real time.

Federal officials say the crackdown reflects a broader shift away from simply recovering stolen funds after fraud occurs and toward preventing fraudulent payments before they are made.

The FBI, HHS Office of Inspector General, CMS, DEA, and numerous state and federal agencies participated in the operation.

FBI Director Kash Patel described the takedown as one of the most significant anti-fraud operations ever conducted, warning healthcare criminals that federal authorities are using increasingly sophisticated technology to track suspicious financial and billing activity.

For ordinary Americans, the stakes extend far beyond the courtroom.

Medicare and Medicaid serve tens of millions of seniors, disabled individuals, and low-income families. Every dollar lost to fraud is a dollar unavailable for legitimate patient care and a cost ultimately borne by taxpayers.

Federal officials say the message from Tuesday’s announcement is clear: healthcare fraud remains one of the government’s highest enforcement priorities, and the use of advanced analytics and AI is making it increasingly difficult for fraud schemes to avoid detection.

JBizNews Desk | New York
© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

President Donald Trump claimed energy companies are engaging in fuel price gouging and said that he has ordered the U.S. Justice Department to investigate.

“The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil. Those prices are dropping like a rock! In other words, customers are being ‘gouged,'” Trtump asserted in a Truth Social post.

“I have instructed the DOJ to immediately start looking into this. Gasoline prices better start going down a lot faster than what I’m seeing!” he declared.

OIL TANKER TRAFFIC THROUGH STRAIT OF HORMUZ HITS HIGHEST LEVEL SINCE CONFLICT BEGAN BUT MINES REMAIN

Americans have been facing higher fuel prices during the Iran war.

The AAA national average for regular gas is $3.928 as of June 24, down from the month-ago average of $4.515, though still significantly higher than the year-ago average of $3.224.

INFLATION ROSE AGAIN IN MAY AS ELEVATED ENERGY PRICES SQUEEZE CONSUMERS

WTI crude oil futures are around $71 as of Wednesday morning, but were even lower before the start of the war. 

U.S. crude closed at $73.21 Tuesday, only $6.19 more than the day before America attacked Iran earlier this year, NBC News reported.

TRUMP VISITS MACK TRUCKS PLANT IN BATTLEGROUND PENNSYLVANIA DISTRICT TO TOUT ECONOMIC AGENDA AS MIDTERMS LOOM

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Trump signed a Memorandum of Understanding related to Iran last week.

This post was originally published here

The same artificial-intelligence boom rattling the stock market this week is hitting Americans in a quieter place: their electric bills. The point was underscored Tuesday, when the U.S. Energy Department announced $17.5 billion in loans to build new nuclear reactors to meet the skyrocketing power demand from massive data centers. Behind that lies a problem households already feel. According to the U.S. Energy Information Administration, residential electricity prices have risen more than 36% since 2020, to 17.44 cents per kilowatt-hour, and are expected to reach 19.01 cents by September 2027 — faster than inflation.

The culprit, in part, is the explosion of data centers — the warehouse-sized buildings of computer servers that power AI. The International Energy Agency estimates data centers accounted for roughly 50% of all growth in U.S. electricity demand last year. The Energy Department says data centers used 4% to 5% of the nation’s electricity in 2024, a share that could nearly triple by 2028. Building the plants and lines to serve them costs money — and much of it lands on ordinary ratepayers.

Here is how, in plain terms. When a giant new electricity user plugs in, the local utility often must build new infrastructure. Under the rules in most regions, those costs are spread across everyone on the system, not just the company that created the demand — so even households that never touch an AI chatbot help pay for it. In the mid-Atlantic grid known as PJM, which covers 13 states, prices have risen dramatically as data-center demand has increased.

The dollars are real. The consultancy PowerLines found utilities requested more than $30 billion in rate increases last year, affecting 81 million Americans, and that power bills have risen about 40% since 2021. A Bloomberg analysis found electricity costs in areas near data centers jumped as much as 267% over five years. One Manassas, Virginia, homeowner told Consumer Reports his monthly bill spiked to $281 in January from about $100 the month before.

There is a striking imbalance in who pays. A Yale Climate Connections analysis found that between 2020 and 2024, residential electricity prices rose about 25%, while commercial prices rose far less and industrial users actually paid lower prices. Families running air conditioners and refrigerators have absorbed steeper increases than the big users driving much of the new demand. In industry parlance, ordinary consumers are “captive ratepayers” because, in many states, they cannot shop for a cheaper provider.

That has made electricity a political flashpoint before November’s midterms. President Trump has embraced AI as a growth engine but increasingly sees electricity prices as a threat, and secured a promise from Microsoft that its data centers would not drive up prices. Major operators including Amazon, Google, Meta and Microsoft have signed pledges to build or buy their own power so the cost does not fall on neighbors.

It would be wrong to pin the entire increase on AI. Analysts note bills were climbing well before the boom, driven by an aging grid, higher gas and equipment costs, coal and gas plant closures, and outdated utility profit models. Goldman Sachs analyst Manuel Abecasis estimated higher electricity prices will add about 0.1% to core inflation through 2027 and warned the drag falls hardest on lower-income households, for whom power is a bigger share of spending.

For investors, the same surge has a flip side: utilities, long treated as sleepy stocks, are being valued for growth as they spend billions to serve data centers and recover the cost from customers. That is the uncomfortable knot at the center of the AI build-out. The technology promises enormous gains, but a large share of its immediate cost is showing up on the monthly bills of households that had no say — a tension now driving policy fights in more than 30 statehouses and shaping the midterm campaign.

JBizNews Desk | New York

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

Larry the cat has officially outlasted a sixth UK prime minister with the resignation of Keir Starmer, adding to his list, which consists of David Cameron, Theresa May, Boris Johnson, Liz Truss, and Rishi Sunak.

Larry, the nearly 20-year-old chief mouser to the Cabinet Office, has spent the past 15 years catching mice at Number 10 Downing Street, the British prime minister’s official residence.

Larry is a tabby cat who was adopted from Battersea Dogs and Cats Home in February 2011 by then-prime minister David Cameron and his wife, Samantha.

The chief mouser has charmed the hearts of the British and international public, and the internet has taken great delight in the first feline being the only constant in the revolving door of 10 Downing Street.

“Larry the cat should be the next UK prime minister,” one user wrote on X/Twitter, with commenters noting that he has more experience in the political realm than many career politicians.

“The only stable thing about the UK government is Larry the cat. We had 6 prime ministers in the last 7 years, it’s embarrassing,” another wrote.

Cats have held position in UK government since 16th Century

The earliest record of a cat residing with English leadership was during King Henry VIII’s reign, when Cardinal Thomas Wolsey allowed his cat to serve alongside him as lord chancellor.

Larry is currently the second-longest serving chief mouser, just behind Peter III, who served from 1947 – 1964 under Clement Attlee, Winston Churchill, Anthony Eden, Harold Macmillan, and Alec Douglas-Home.

Larry’s tenure began after multiple rat sightings on the steps of Number 10 Downing Street in early 2011, causing a “pro-cat faction” within Downing Street to lobby for an expert to be brought in to handle the issue.

Larry is currently nearly 100 in human years but shows no sign of slowing down, and will continue to carry out his duties as Starmer begins transitioning out of Number 10 Downing Street.

This post was originally published on here

Authorities earlier this month confirmed the final resting place of a US military submarine that has been lost since WWII.

The final resting place of the USS Herring was officially confirmed by the United States’ Naval History and Heritage Command’s (NHHC) Underwater Archaeology Branch, 82 years after being lost.

“The wreck represents the final resting place of sailors who gave their lives in defense of the nation and should be respected by all parties as a war grave,” according to NHHC’s statement in early June.

Herring was launched on January 15, 1942, at Portsmouth Naval Shipyard in Kittery, Maine, and commissioned five months later, on May 4 of that year.

During WWII, Herring completed eight war patrols across the Atlantic and Pacific theaters and is credited with sinking seven enemy ships throughout her service.

She was one of five submarines sent to the Mediterranean ahead of Operation Torch, the Allied invasion of French North Africa during World War II. Stationed off Casablanca, on November 8, she succeeded in sinking the Vichy French cargo ship Ville du Havre.

Afterward, Herring returned to Scotland before departing for her second war patrol on December 16, 1942. While she did not sink anything during this patrol, her third patrol saw her sinking a Nazi U-163.

During her fourth and fifth war patrols, she did not achieve any more kills. However, Herring’s sixth war patrol was set to change this. 

On November 15, 1943, following months of training at Pearl Harbor, Herring joined the effort to decimate Japanese shipping and the nation’s economy in the Pacific arena. There, she succeeded in sinking the Japanese cargo ships Hakozaki Maru and Nagoya Maru. 

Herring’s success failed on her seventh patrol, when she stalked an aircraft carrier but was detected and forced to flee before managing to attack. 

Herring goes missing on June 1

She was last seen by submarine USS Barb on May 31, 1944, off of the Kuril Islands, when the two submarines met to divide patrol areas. 

On June 1, Herring came upon two Japanese merchant ships, the Hiburi Maru and Iwaki Maru, which were anchored off Matsuwa Island, attacking and sinking them both. 

Barb’s crew at the time recorded the sound of depth charges exploding in the distance, attributed to an attack associated with the Herring.

Later, Japanese shore batteries reported sighting and firing at a grounded submarine near the site of the two sunken merchant ships. Records of the strikes show that the submarine suffered two direct hits to its conning tower before managing to escape. 

Herring and her 83 crew were presumed lost after failing to report to Midway on July 13, 1944.

She was stricken from the Navy Register four months later, on November 13, and her fate remained unknown for decades.

Wreckage suspected to be Herring found by Russian expedition

In 2017, a joint expedition led by the Russian Geographic Society (RGS) and the Russian Military led to the discovery of a submarine wreckage in the area. It was reported as the Herring based on its location and its appearance.

Five years later, in 2022, a subsequent expedition returned to the wreck to extensively document the wreckage and honor the crew lost when she sunk.

Now, using data collected and provided by the Russian Geographic Society (RGS), and analyzed by two US volunteer researchers and a third Japanese researcher, the suspected wreckage has been officially confirmed to have belonged to Herring. 

Her wreckage sits upright on its keep at a depth of over 300 feet, maintaining a “high degree of integrity,” NHHC said in its statement. 

Evidence of both her grounding and the hits taken to the submarine’s conning tower are visible on the Herring’s surviving wreckage. 

For her service, she was awarded the European-African-Middle Eastern Campaign Medal with two battle stars, the Asiatic-Pacific Campaign Medal with three battle stars, and the World War II Victory Medal.

Herring’s discovery is a powerful reminder that we have an obligation to the sailors and Marines who gave their lives in service to our nation,” NHHC Director Samuel J. Cox said in a statement to Military.com’s Ryan Thomas LaBee. “It is also a testament to the value of international collaboration in uncovering and preserving the truth of our shared history.”

This post was originally published on here

State Comptroller Matanyahu Englman warned on Wednesday that Israel has not properly prepared for several economic risks that affect everyday life: whether the country will have enough gas to produce electricity, whether homebuyers are taking on mortgages they can afford, and whether government money is being spent under proper oversight.

In a package of 12 economic audits, Englman found a repeated pattern: government ministries and regulators had made decisions, announced reforms, or received previous warnings, but had not completed the practical work needed to make those policies function.

The most serious finding concerned natural gas, which provides about 70% of Israel’s electricity.

Government must decide where to allocate natural gas

Israel currently produces gas from three offshore fields, and nearly half of the gas extracted in 2024 was exported to Egypt and Jordan. Exporting gas brings revenue and can strengthen regional ties. But it also means the government must decide how much gas to keep for Israeli homes, businesses, and power stations in the coming decades.

According to the audit, the government has not yet finalized that policy.

A committee examining the issue recommended reserving 440 billion cubic meters of gas for Israel’s domestic needs. But the comptroller found that this was 75 BCM below the committee’s own forecast of how much Israel may need through 2048.

The gap could widen because the forecast did not fully account for higher electricity use by data centers or more extreme weather, both of which can increase power demand. Under those conditions, the amount recommended for domestic use could last only about 20 years, the report said.

The problem is not only how much gas Israel has, but whether it has a backup plan.

Israel has no facility to store natural gas for emergencies. That means that if supply from an offshore field is interrupted, the country has no domestic reserve that can simply be drawn on while the problem is resolved.

The Energy Ministry has also not adopted a long-term plan explaining what Israel will do when its gas reserves decline or run out, the comptroller found. That plan would need to address whether Israel will import gas, rely more heavily on renewable energy, or use other fuel sources.

“There is a need already now to prepare and examine the steps required to ready the energy economy for the day when Israel no longer has natural-gas resources,” Englman said.

He called on the Energy Ministry and the interministerial committee to complete their work, decide how much gas should remain available for Israelis, and advance plans for storage, imports, and future energy sources.

Another audit examined mortgages, the largest financial commitment for many Israeli households.

Total mortgage debt in Israel reached about NIS 630 billion in 2025. The average mortgage rose from about NIS 779,000 in 2020 to around NIS 1 million in 2025, while the average monthly repayment on new mortgages increased from NIS 4,200 in 2019 to NIS 5,776 in 2025.

The comptroller found that a growing share of mortgages fell into the Bank of Israel’s higher-risk category. These are loans in which buyers borrow a large part of the home’s value or in which repayments take up a relatively large share of their income.

That share rose from 20% in early 2022 to 31% in mid-2025.

The report also warned about contractor promotions that allow buyers to pay only a small amount when signing for an apartment and delay most of the payment until later. Such offers can make a purchase appear more affordable at first, but buyers may face a much larger problem when they eventually need to secure a full mortgage.

Englman also found that many borrowers were not comparing enough mortgage offers before signing, despite reforms meant to make bank proposals easier to understand. Mortgage advisers, meanwhile, are not regulated by law, leaving clients exposed to aggressive sales methods, excessive fees, or advice that may not be fully independent.

“A mortgage is not merely a banking product,” Englman said. “It is a foundation for the financial stability of Israeli households.”

He called on the Bank of Israel and the Capital Market Authority to improve oversight, encourage more competition between lenders, and regulate mortgage advisers.

The audit on government budgeting focused on what happens at the end of the year, when ministries often ask to move money from one part of the budget to another or to add funding for new needs.

These changes are meant to be reviewed by the Knesset Finance Committee. But Englman found that in December 2024, the committee approved 77 budget-transfer requests worth NIS 30.4 billion. Thirty-one additional requests, worth NIS 4.6b., were submitted before the end of the year but were not discussed or approved in time.

The comptroller said this left ministries unable to plan properly and, in some cases, resulted in money being spent without an approved budget.

“These findings raise concern about circumventing the law,” Englman said.

He urged the Finance Ministry to submit budget changes earlier in the year, reduce their number and scale, and give the Knesset enough time to meaningfully review them before money is spent.

Israel’s truck fleet is continuing to age

The report also found that Israel’s transition to cleaner transport remains incomplete. Air pollution from vehicles caused an estimated NIS 10.9b. in damage in 2024, including harm to health, the environment, infrastructure, and agriculture.

The comptroller said Israel’s truck fleet is continuing to age, no new clean-air zones have been created since those established in Haifa and Jerusalem, and electric-car infrastructure has not kept pace with the number of vehicles on the road.

Public charging points could serve only about four-point-nine-percent of Israel’s electric vehicles at the end of 2024, the report found. Rules governing chargers in apartment buildings and the recycling of large electric-car batteries have also not been completed.

Englman called on the relevant ministries to remove those barriers, expand clean-air zones, and turn existing plans into measurable action.

This post was originally published on here

The first high-level US-Iran talks in Switzerland did not produce a final agreement, but they did mark a step in transforming a fragile memorandum of understanding (MoU) into a structured diplomatic process. 

Meeting at Bürgenstock, overlooking Lake Lucerne, American and Iranian delegations agreed to continue technical negotiations under the framework of the Islamabad MoU, with Qatar and Pakistan acting as mediators.

The talks brought together US Vice President JD Vance and other senior American envoys, while Iran was represented by Foreign Minister Abbas Araghchi and other high-level officials. Qatar and Pakistan helped shape the process, issued the joint statement, and positioned themselves as mediators in a broader effort to shift the crisis from military escalation to managed de-escalation.

According to the joint statement issued by Qatar and Pakistan on June 22, the talks produced a high-level committee to provide political oversight and working groups focused on nuclear issues, sanctions, monitoring, and dispute resolution, and a roadmap toward a final deal within 60 days.

The United States and Iran also agreed to establish a direct communication channel to prevent incidents and misunderstandings in the Strait of Hormuz, as well as a de-confliction mechanism involving Lebanon, the two parties, and the mediators to help support the cessation of military operations in Lebanon.

Meeting in Switzerland marks shift within US foreign policy

The Swiss meeting was more than a bilateral negotiation between Washington and Tehran.

It reflects a wider regional recalibration in which the United States appears to be relying not only on its traditional coordination with Israel, but also on a broader network of partners, including Gulf states and Pakistan, to manage the political and security consequences of the crisis.

For Washington, the challenge is now twofold. It must test whether Iran is prepared to accept meaningful nuclear monitoring and further technical arrangements, while also preventing the regional issues linked to the crisis, Lebanon, maritime security, sanctions relief, and frozen assets, from derailing the process.

For Tehran, the Swiss talks offer a chance to preserve leverage while obtaining economic and political concessions, but also require it to enter a more formalized process of implementation and verification.

The return of international nuclear inspectors is one of the most sensitive elements under discussion. Vance said Iran had agreed to invite International Atomic Energy Agency inspectors back into the country, framing this as a first step toward addressing Washington’s concerns over Iran’s nuclear program.

But Tehran has been careful to avoid presenting this as a unilateral concession, insisting that any final arrangement will depend on implementation, sanctions relief, and decisions by Iran’s senior political and security institutions.

Contrasting information is coming from Washington and Tehran

The sanctions issue is equally delicate. Iranian officials have suggested that oil and petrochemical export restrictions have been waived, that the blockade has been lifted, and that some frozen assets have been released.

US officials have been more cautious in their phrasing, emphasizing mechanisms, waivers, and restrictions on how any unfrozen funds may be used. This gap between political messaging and enforceable implementation is likely to define the next stage of the talks.

For Gulf countries, however, the immediate question is less about the optics of victory and more about whether the agreement can reduce regional risk.

The crisis had placed maritime routes, energy markets, Lebanon, and Gulf security under pressure. For Riyadh, Abu Dhabi, Doha, and other regional capitals, the test is not whether Washington or Tehran can claim success, but whether escalation can be contained.

Broader concerns in the Gulf around the impacts of a return to conflict with Iran

Abdulaziz Alshaabani, a Saudi political analyst, said the agreement is being viewed with measured hope in Saudi Arabia.

“From a Saudi perspective, the US-Iran agreement is viewed with cautious optimism, as it reduces the risk of military escalation and gives the region an opportunity to move away from a period of heightened tensions and uncertainty,” Alshaabani told The Media Line.

“For Gulf countries, the key issue is not who won or lost, but whether the agreement can contribute to regional stability, secure maritime routes, and create a more favorable environment for economic development and investment,” he said.

His assessment reflects a broader Gulf concern that the region cannot afford another cycle of escalation around Iran, Lebanon, Israel, and the Strait of Hormuz.

The Gulf economies depend on stability, investment confidence, maritime security, and energy flows. Even a partial disruption to the Strait of Hormuz can produce international consequences far beyond the immediate conflict zone.

Alshaabani said the competing narratives around the agreement remain important, but they are not the decisive factor.

“Some observers argue that Iran has managed to preserve important strategic leverage, while the United States demonstrated its military capabilities without fully translating them into decisive political outcomes,” he said. “However, the more significant point is that both sides ultimately chose negotiations over open confrontation.”

That point is central to understanding the Swiss talks. The agreement neither erases the imbalance of trust between Washington and Tehran, nor resolves the disputes over Iran’s nuclear program, sanctions, Lebanon, or Israel’s security concerns. However, it does create a mechanism through which those disputes can be managed before they trigger another direct confrontation.

“In my view, the real measure of success will not be the signing of the agreement itself, but its ability to produce lasting de-escalation, strengthen Gulf security, and prevent future crises that could threaten regional stability and the global economy,” Alshaabani said.

“For this reason, Saudi Arabia and other Gulf states are likely to focus less on the political narratives of victory and defeat, and more on the practical implementation and long-term outcomes of the agreement.”

Pakistan’s role in the process is significant. Islamabad has long offered itself as a possible channel between Washington and Tehran, but the Swiss talks suggest a more active diplomatic function.

Pakistan is not simply offering symbolic “good offices,” it is helping facilitate communication, lower misperceptions, and support mechanisms aimed at preventing escalation.

Pakistan’s involvement in the diplomatic process is a sign of increased credibility

Mohammad Ali Zafar, a political risk consultant, told The Media Line that Pakistan’s recent diplomatic activism in US-Iran mediation can be understood as part of a broader chain reaction that elevated Islamabad’s credibility in Washington.

“Analysts have noted that Pakistan’s cooperation with the United States in facilitating the handover of the alleged Abbey Gate attack mastermind, Sharifullah, was widely interpreted as a signal of renewed counterterrorism alignment,” he said, adding that this was followed by Pakistan’s calibrated but firm military response to India, which drew renewed American attention to Pakistan.

The Sharifullah case remains legally complex. US authorities charged Mohammad Sharifullah over alleged ISIS-K support linked to the 2021 Abbey Gate attack, but a later jury verdict did not establish direct responsibility for the deaths at Kabul airport. Still, in diplomatic terms, the case was widely interpreted as a moment of renewed counterterrorism contact between Islamabad and Washington.

Zafar said Pakistan’s role in the US-Iran channel represents a shift in posture “from merely offering ‘good offices’ to playing a more active role in de-escalation.”

In his view, Pakistan has positioned itself as a middle power willing to assume greater responsibility “by helping reduce misperceptions, facilitating communication, and supporting mechanisms aimed at lowering tensions,” adding that “this emerging role, while still evolving, has contributed to the broader international effort to prevent escalation and promote a pathway toward lasting peace.”

Pakistan’s role is also shaped by its relations with key regional powers. Islamabad has strong ties with Turkey and Saudi Arabia, maintains links with Iran, and has an interest in avoiding a regional conflict that could spill across South Asia and the Gulf.

The role of middle powers in conflict management in the Middle East

Its participation alongside Qatar also reflects a broader trend, that middle powers are increasingly central to conflict management in the Middle East.

Qatar’s role is more established. Doha has spent years positioning itself as a mediator in sensitive regional and international files, from Gaza to Afghanistan and the US-Iran channels.

Its involvement in the Swiss talks fits that pattern. But the joint Qatar-Pakistan mediation format is notable because it combines Doha’s established diplomatic brokerage with Islamabad’s strategic geography, military weight, and renewed relevance in Washington.

Zafar said Pakistan’s regional coordination matters, but he cautioned against interpreting the mediation as bloc politics. “Pakistan enjoys strong and historic relations with Turkey, Saudi Arabia, and Egypt, and it has increasingly coordinated its diplomacy with these regional partners,” he said.

“However, the current US-Iran mediation effort is focused primarily on achieving lasting peace between Washington and Tehran, two states that have been in confrontation for decades. Pakistan’s role here is not about bloc politics but about acting as a responsible middle power capable of lowering tensions and preventing wider regional instability.”

This distinction is important. The Swiss talks do not mean Pakistan is entering an anti-Israel, anti-US, or pro-Iran bloc. Nor do they mean Gulf states are aligning with Tehran.

Rather, the talks show that the US is being pushed by the crisis to diversify its regional diplomatic architecture. Israel remains central to American security calculations, but Washington is also relying on Qatar, Pakistan, and Gulf coordination to manage issues that Israel alone cannot resolve.

Significance of the involvement of Lebanon in cessation of hostility with Iran

Lebanon is the clearest example. The creation of a de-confliction cell shows how the US-Iran talks have expanded beyond the nuclear issue. Iran sees Lebanon and Hezbollah as central to its regional leverage, while Israel views Hezbollah as a direct security threat. Gulf states, meanwhile, want to avoid a broader regional war that could destabilize markets and maritime routes.

The result is an agreement that seeks to integrate nuclear diplomacy, sanctions relief, Lebanon, and the Strait of Hormuz into a single de-escalation framework.

That approach may create opportunities, but it also carries risks. The more issues are attached to the US-Iran process, the more vulnerable the process becomes to spoilers.

A new Israeli strike in Lebanon, a Hezbollah attack, a maritime incident in Hormuz, or a disagreement over frozen Iranian assets could all test the durability of the Swiss framework before technical negotiators reach a final deal.

For Pakistan, the mediation also raises questions about whether diplomatic credibility gained in one arena could later affect other regional disputes, including Kashmir. “On the question of Kashmir, Pakistan has consistently welcomed any constructive role the United States may play,” Zafar said.

“Linking the present US-Iran talks directly to Kashmir would be premature. … Yet, once the US-Iran issue stabilizes, new diplomatic openings could emerge. In international politics, goodwill and credibility earned in one arena can sometimes translate into influence in another. 

“Diplomacy is ultimately the art of the possible, and Pakistan remains committed to pursuing a peaceful, lasting solution to the Kashmir dispute, one that reflects the aspirations and concerns of the Kashmiri people,” he said. 

The memorandum of understanding has given a timeline, not a final agreement

For now, the immediate test remains the US-Iran track itself. The Swiss talks created a process, not a settlement. They gave negotiators a timetable, not a guarantee.

They showed that Qatar and Pakistan can help convene and facilitate, but they cannot, by themselves, force implementation. They also showed that the United States is adjusting to a regional environment in which military power alone does not determine political outcomes.

This is where the agreement’s deeper significance lies. Iran appears to have preserved some strategic leverage. The United States demonstrated military capability and diplomatic reach, but still has to negotiate through regional mediators.

Gulf states are focused on stability, maritime security, and economic continuity. Pakistan is attempting to convert crisis diplomacy into international credibility. Qatar is reinforcing its role as a key diplomatic broker. 

The Swiss track, therefore, marks not only a potential opening in US-Iran relations but also a shift in the regional balance of mediation.

The coming weeks will show whether that shift can produce enforceable de-escalation, or whether the same unresolved conflicts that brought the parties to Switzerland will pull them back toward confrontation.

This post was originally published on here

US President Donald Trump said on Wednesday that Iran has told the United States that no tolls were being sought from ships traveling through the Strait of Hormuz.

The two countries, which ended ‌a first round of negotiations in Switzerland on Monday, have offered conflicting accounts about financial incentives for Iran, control of the Strait of Hormuz and Israel’s parallel war in Lebanon – all major aspects of their framework deal signed last week aiming to end the war.

Trump has faced criticism over the deal domestically, including from hardliners in his Republican Party.

“Iran has informed the U.S. that, despite troublemaking Fake News reporting to the contrary, there are ‘NO TOLLS, NO INSURANCE COSTS, & NO OTHER CHARGES OF ANY KIND BEING SOUGHT OR RECEIVED BY IRAN ON SHIPS TRAVELING THE STRAIT OF HORMUZ’ Trump wrote in a social media post.

“If this is false information, negotiations would end, immediately!”

Rubio discusses Iran deal with UAE president

US Secretary of State Marco Rubio discussed the memorandum of understanding with Iran, safe transit through the Strait of Hormuz, and the importance of peace in the region in a meeting with United Arab Emirates President Mohamed bin Zayed Al Nahyan, the State Department said on Wednesday.

This is a developing story.

This post was originally published on here

The word “proxy” has done heavy duty lately. We use it to describe Hamas and Hezbollah as instruments of Iran, and the label fits. Their ideology, their strategy, and their ultimate aim are indistinguishable from Tehran’s: the destruction of Israel, pursued without regard for the cost to their own people.
 
They take direction from the patron that funds and shelters them, and they execute it faithfully. That is what defines a proxy – not an ally with shared interests, but an actor whose agency has been surrendered to someone else’s ends.

By that definition, we should be alarmed at what Israel is becoming.

Reassured for years that America is committed above all else to the safety of the Jewish state, Israel has allowed its own strategy to be quietly subordinated to Washington’s priorities. Our decisions increasingly serve American financial and geopolitical interests – the price of oil, control of global energy routes, the architecture of the Abraham Accords – more than they serve Israeli security. And when those interests collide with our survival, it is our survival that gives way.

The collision is no longer theoretical. On June 14, after Hezbollah fired on northern Israel and the IDF struck a Hezbollah command center in Beirut, US President Donald Trump did not stand with the country he claimed to protect. 

He faulted Israel publicly, calling the attack it had answered “very small and meaningless,” insisting “nobody was hurt, injured, or killed,” and warning that Israel’s response “should not disrupt this important process.” The process he had in mind was his emerging deal with Iran. The targeting of Israeli civilians and the killing of Israeli soldiers did not register. The deal did.

Asked soon afterward whether he could keep Israel from striking Lebanon at all, the president was unguarded: “They have a lot of respect for me, and they do as I say.” It is hard to describe a patron-and-proxy relationship more plainly – except that here, the president of the United States described it about us.

From ally to proxy?

For more than two years, the north has been left to fend for itself: communities emptied, families living without any sense of security, soldiers killed almost daily – and we have been urged to absorb it quietly, so as not to disturb an American negotiation.

That negotiation has now produced the Islamabad Memorandum between the United States and Iran. Read it closely. It says nothing about Iran’s ballistic missiles – the very arsenal Washington once vowed to neutralize – and nothing about Tehran’s network of terror proxies. 

It defers every meaningful question about Iran’s nuclear program to a later round of talks that may never conclude. What it does do is commit its signatories to ending the war “on all fronts, including Lebanon.” Iran has seized on that clause to demand an Israeli withdrawal from Lebanon as a precondition – before it will concede anything real on the nuclear file. 

Israel, which never signed the document, is nonetheless expected to be bound by it. We have been reduced to a pawn on a board where we are not even seated as a player.

Which brings us to the question now consuming our politics: who serves, and why. The fight over drafting Haredi yeshiva students fills the headlines daily, but the deeper question is owed to every Israeli family, religious and secular alike. We ask our sons and daughters to place their lives in the hands of the state. That is a sacred contract, and it runs in both directions. 

The nation may demand sacrifice only if it is genuinely prepared to defend those who make it – to secure the borders, to finish the job, to put Israeli security first and answer to no one else for it.

Can we honestly say that it does? If our strategy is dictated in Washington and our deterrence is bargained away to serve someone else’s deal, then we owe our children an answer before we send them to the front. A sovereign nation asks its young to risk everything for its own survival. A proxy asks them to risk everything for someone else’s.

Israel cannot be a proxy.

The writer is a serial entrepreneur and seasoned investment professional specializing in disruptive technologies and financial analysis. He is a researcher at the Jerusalem Center for Security and Foreign Affairs (JCFA).

This post was originally published on here

A new round of Israel-Lebanon talks began in Washington on June 23. The talks look to be taking place in a complex environment.

This is because Iran is trying to salvage its Hezbollah proxy. Iran has tied the conflict in Lebanon to the Iran talks in Switzerland. As such, the US had pressured Israel to adhere to a real ceasefire with Hezbollah. In the past, the ceasefires were only in name, and Israel continued strikes on Hezbollah, and Hezbollah continued attacks on the IDF in Lebanon.

When the talks began on June 23, there appeared to be considerable pessimism on the Israeli side. However, there is now a chance that something good can come from the pessimism.

One thing that might happen is that Lebanon could be pressured to ensure that its army can administer areas from which the IDF withdraws.

This kind of “pilot” project has been under discussion for a month or more. In addition, the US has discussed possibly supporting the Lebanese Armed Forces by vetting certain units to improve them.

Lebanese Army proves incapable of disarming weakened, cut-off Hezbollah

So far, it’s just talk.

The Lebanese Army proved incapable of disarming Hezbollah in 2025. In 2025, it had a real opportunity, its biggest chance in decades, to actually do something.

Hezbollah was weakened and cut off from Iran. Iran suffered blows from Israel and the US in June 2025. Hezbollah could have been disarmed, possibly in some areas.

The Lebanese Army preferred to claim it was doing things, but not actually do anything. It squandered a huge opportunity.

Now there is a chance to try again. Arab News noted on June 24 that “talks between Israel and Lebanon include discussion of a US-backed proposal for Israeli forces to hand over some of the territory they have invaded during the war with Hezbollah to the Lebanese military, according to Israeli and Lebanese officials.”

The report said that “the Israeli officials said the Lebanese troops involved would undergo US training and vetting to ensure they are not linked to Iran-backed Hezbollah, while Israel would maintain a military presence in a buffer zone along the ‌border.”

This is a big deal. The concept of the pilot project would be a revolution for Lebanon. It is now supposed to be discussed in the coming days.

Consolidation of ceasefire underway, nitty-gritty discussed

“Lebanese President Joseph Aoun confirmed that determination of the model areas remains under discussion ‘pending approval from the Israeli side,'” Arab News noted.

“Work is underway to consolidate the ceasefire in the south, to be followed by the withdrawal of Israeli forces, the deployment of the Lebanese army, the return of the residents, the release of prisoners, and the start of the reconstruction process,” the Lebanese Presidency said.

Now the nitty-gritty has to be discussed. “Asked about the Israeli officials’ comments, a senior Lebanese security official said discussions were ongoing in Washington ⁠and that Wednesday would see specific military-to-military discussions, ‌including on the pilot zones,” Arab News noted.

“The ‌Lebanese official said the discussions would focus on a timeline ‌for withdrawal and that any plan would emerge only after ‌the final day of talks on Thursday. The official did not respond to a request for comment on the Israeli officials’ account of US vetting of Lebanese troops.”

Al-Ain news in the UAE, Reuters, and others have reported essentially the same information. It remains to be seen if this will actually happen. 

This post was originally published on here

American manufacturers cut jobs in June at the fastest pace since 2009 — outside the early-pandemic collapse of 2020 — even as their factories produced goods at the strongest rate in years.

The contradiction emerged from a survey released Tuesday by S&P Global, whose flash U.S. Manufacturing Index climbed to 55.7 for June, up from May and above the 54.8 consensus estimate, even as job cuts ran near their highest level since 2009 excluding the pandemic collapse.

“Most worrying was the further fall in employment, notably in the manufacturing sector,” said Chris Williamson, chief business economist at S&P Global Market Intelligence, adding that “factory job cuts are running at the highest since 2009 if the pandemic is excluded.”

How can production rise while payrolls shrink?

Much of June’s strength came not from rising demand but from stockpiling. Manufacturers built inventories at a pace approaching the survey’s all-time high — surpassed only by the 2025 tariff-driven inventory surge — as companies rushed to protect themselves from supply-chain disruptions and cost spikes tied to the Middle East conflict.

Factories were busy filling warehouses, not necessarily responding to stronger customer demand, while continuing to reduce staffing to control costs.

The squeeze comes from prices.

Input costs remain historically elevated, with manufacturers citing higher steel and aluminum prices, tariffs, and petroleum-related inflation linked to the conflict. Facing those pressures and an uncertain demand outlook, many companies chose to trim headcount rather than expand payrolls.

Williamson said the data point to an economy “struggling to grow much faster than a 1% annualized rate” in the second quarter — sluggish by recent standards.

The weakness is not confined to factories.

The services sector expanded only modestly, posting a flash reading of 51.3, with the survey citing customer resistance to higher prices and continued weakness in consumer confidence.

Meanwhile, the broader labor market has shown additional warning signs. Lucid Motors announced its second major layoff of the year on Monday, cutting approximately 1,500 workers, or about 18% of its workforce, as demand in the electric-vehicle sector cools.

Outplacement firm Challenger, Gray & Christmas reported more than 97,000 announced U.S. job cuts in May alone.

It is important to keep perspective. According to official Bureau of Labor Statistics data, manufacturing employment has actually increased by approximately 23,000 jobs in 2026, with strong gains in four of the year’s first five months.

The S&P survey measures hiring direction among roughly 800 surveyed companies rather than precise employment totals, and one month does not establish a trend. Some of the decline also reflects automation, with manufacturing-technology hiring increasing modestly over the past year.

Still, June’s reading represents a sharp reversal at an awkward moment.

Companies remain caught between stubborn inflation — with energy costs elevated by the war — and a Federal Reserve under Chair Kevin Warsh that is weighing potential rate increases or, at minimum, delaying rate cuts until geopolitical conditions stabilize.

Higher borrowing costs would make expansion and hiring even more expensive for manufacturers.

For workers, the message is unsettling.

Factory jobs have long provided a pathway to middle-class wages without requiring a college degree. When manufacturers stop adding shifts or begin trimming staff, the effects ripple through entire communities. Local restaurants, suppliers, trucking companies, and retailers often feel the impact as well.

The one bright spot was confidence.

Williamson noted that “brighter news out of the Middle East has helped restore some confidence among US businesses in June.”

If that stability holds and energy prices continue easing, some of the pressures driving job cuts could fade.

For now, however, June’s report delivers a clear warning: a factory sector that looks strong on the surface while quietly shedding the workers who keep it running.

JBizNews Desk | New York

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

Regenxbio said Wednesday it will apply for accelerated approval for its gene therapy for Duchenne muscular dystrophy — just a month after the company said regulators wanted to see another trial and that it would hold off on an application.

The announcement comes as the Food and Drug Administration seemingly reverses course on a slew of drugs it recently rejected or spurned. On Monday, Regenxbio said the FDA agreed to reconsider a Hunter syndrome gene therapy that it rejected just four months ago, when Marty Makary and Vinay Prasad were still at the agency’s helm. Both officials have left the FDA in recent weeks.

Wednesday’s announcement is unusual, however. In a press release, the company gave no indication reviewers had changed their stance on the company’s Duchenne gene therapy.

Continue to STAT+ to read the full story…

This post was originally published here

Mortgage rates are stuck in place.

The average rate on a 30-year fixed home loan was 6.47% in the week ending June 18, according to Freddie Mac, down from 6.52% the week before and well below the 6.81% level of a year ago. Daily trackers on Tuesday ranged from the mid-6.3% area to about 6.6%, depending on the lender and methodology, a sign that rates are drifting sideways rather than breaking decisively in either direction.

Behind the stalemate is a tug-of-war between two powerful forces.

Pulling rates down is the cooling of the U.S.-Iran conflict. As the two sides moved toward a deal and the Strait of Hormuz began reopening to shipping, oil prices and bond yields fell, easing pressure on borrowing costs. Because mortgage rates closely track the 10-year Treasury yield, lower yields have helped keep rates contained.

Mike Fratantoni, chief economist at the Mortgage Bankers Association, said inflation concerns pushed rates higher earlier this month, but growing optimism surrounding the reopening of Hormuz brought them lower again by week’s end.

Pushing the other way is the Federal Reserve.

At its June meeting, the central bank under Chair Kevin Warsh held rates steady but struck a hawkish tone, with most policymakers now expecting a rate increase later this year rather than a cut as inflation remains well above the Fed’s 2% target.

That stance has effectively placed a floor beneath mortgage rates.

Most economists expect 30-year mortgage rates to remain above 6% throughout the rest of 2026, with Fannie Mae projecting roughly 6.4% and the Mortgage Bankers Association forecasting around 6.5% into 2027.

For homebuyers, today’s rates are stubborn but not crushing.

Rates near 6.5% remain far above the sub-3% mortgages many homeowners locked in during 2020 and 2021, contributing to the ongoing “lock-in effect” that discourages owners from selling and keeps housing inventory tight.

Still, current rates remain below the near nine-month high of 6.65% reached in May, offering modest relief as the summer homebuying season reaches its peak.

The math remains daunting.

A borrower taking out a $300,000 30-year mortgage at roughly 6.45% would pay approximately $379,000 in interest over the life of the loan. Even a quarter-point reduction can save thousands of dollars over time, which is why brokers continue encouraging borrowers to compare offers from multiple lenders.

Demand remains soft.

Mortgage applications fell 3.8% during the week ending June 12, continuing a recent downward trend, while refinancing accounted for roughly 40% of all applications. The recent decline in rates has tempted some borrowers to refinance, although most homeowners with older low-rate loans still have little incentive to do so.

The biggest wildcard remains oil.

If the ceasefire holds and shipping through Hormuz continues normalizing, energy prices could keep easing, reducing pressure on inflation and interest rates. If the 60-day agreement collapses, however, crude prices could surge again and push borrowing costs back toward spring highs.

Sam Khater, chief economist at Freddie Mac, noted that consumers remain resilient, with retail spending improving and home purchase demand showing modest strength despite current borrowing costs.

For now, buyers face a housing market defined by one reality: mortgage rates are no longer rising rapidly, but the Federal Reserve is giving little indication that they will fall quickly either.

JBizNews Desk | New York
© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

Rabbis and public leaders from the religious community have approached MK Yuli Edelstein and former justice minister Ayelet Shaked to discuss creating a new political framework, sources familiar with the matter told Walla on Tuesday.

The new framework would be geared towards mainstream Right-wing voters who are disappointed by the current coalition, as well as modern Orthodox Israelis who do not align themselves with Finance Minister Bezalel Smotrich’s Religious Zionist Party.

According to the sources cited by Walla, the initiative would explore establishing a new party that would unite different constituencies on the Right and center-right ahead of the next election.

When asked if Israelis could expect to vote for her in the upcoming election, Shaked told The Jerusalem Post, “You’ll have to wait.”

Edelstein did not respond to the Post’s request for comment.

Right-wing voters search for a new party to support

Earlier this month, Yoaz Hendel told the Post that his Reservist Party is expected to join a political alliance ahead of the upcoming elections, as the party is not expected to pass the electoral threshold on its own.

Hendel describes himself as a right-wing, liberal nationalist and is generally considered center-right.

Additionally, former Israeli UN ambassador Gilad Erdan stated last month that he intends to establish a new right-wing party to contend against Prime Minister Benjamin Netanyahu’s Likud.

In an interview with Army Radio, he said he’d work to create a party that “would not rely on extremists.” 

With elections to be held in October, there is still no clear picture of what the running parties will look like.

This post was originally published on here

Iran stands with Hamas against Israel, and is raising the issue of Israeli aggression in Gaza with the US during talks, Iranian Foreign Minister Abbas Araghchi told senior Hamas official Basem Naim on Tuesday, the Islamic Revolutionary Guard Corps-affiliated Tasnim News Agency reported.

Araghchi said the Iranian negotiation team, of which he is a senior member, will “raise the issue of the occupiers’ ongoing aggression against Gaza,” with Washington, the report noted.

Naim praised Iran’s steadfast support for the Palestinian people “against the Israeli regime,” in a phone call with Araghchi.

He also thanked Iran for its “consistent and firm position regarding the Palestinian cause,” Iranian state media, Press TV, reported.

Press TV reported that Araghchi also thanked Hamas for supporting the IRGC, and reaffirmed the country’s support for an international political movement of support for the Palestinian people.

The Islamic Republic of Iran stressed that the recent memorandum of understanding (MoU) between the US and Iran stresses the cessation of aggression on all fronts.

The US-Iran memorandum of understanding

On June 17, US President Donald Trump and Iranian President Masoud Pezeshkian signed an MoU, beginning a 60-day negotiation period.

The immediately relevant points in the MoU are an end to hostilities on all related fronts, including in Lebanon, the reopening of the Strait of Hormuz, and access to Iran’s frozen assets.

The MoU also allows for further discussions regarding Iran’s nuclear program and commitments to neither develop nor acquire nuclear weapons.

Iran funds and influences international anti-Israel protests and attacks

A wave of antisemitic attacks in the UK was claimed by an alleged Iranian front group, Harakat Ashab al-Yamin al-Islamia. After the stabbing in Golders Green in April, Prime Minister Keir Starmer said the government required “stronger power to tackle the malign threat posed by states like Iran, because we know for a fact that they want to harm British Jews.”

In December 2025, after the shooting at the Bondi Beach Chanukah celebration, Israel launched an investigation into Iranian involvement in the attack. 

Four months before the Bondi Beach attack, Australian Prime Minister Anthony Albanese announced that the IRGC was behind at least two major antisemitic arson attacks in Australia, leading to the Iranian Ambassador being kicked out of Australia.

Iranian regime actors are engaging in influence campaigns to stoke and fund anti-Israel protests in the United States of America, Director of National Intelligence Avril Haines warned in July 2024.

Haines said that many of the American citizens who participated in the anti-Israel protests were expressing their views on the Israel-Hamas war in good faith, but it was important to warn of foreign actors seeking to exploit domestic political debates for malicious purposes.

“Americans who are being targeted by this Iranian campaign may not be aware that they are interacting with or receiving support from a foreign government,” said Haines. “We urge all Americans to remain vigilant as they engage online with accounts and actors they do not personally know.”

This post was originally published on here

The British Medical Association has passed a motion calling for an investigation into the use of the International Holocaust Remembrance Alliance (IHRA) definition of antisemitism within the NHS, arguing that it may restrict free expression by healthcare workers.

The BMA’s annual representative meeting brings together representatives from the BMA’s constituent bodies to debate motions on medical ethics, health, and NHS structure. The NHS is the UK’s free medical service.

This year’s conference, which began on Monday, featured just one Israel-related motion on Agenda 1 (the motions prioritized for debate), unlike last year’s conference, which had five. There are ten anti-Israel motions on Agenda 2.

On Tuesday, the BMA passed Motion 55 in its entirety.

The motion expresses “grave concern” about the adoption of the International Holocaust Remembrance Alliance (IHRA) definition of antisemitism in the NHS “without proper consultation or risk assessment.”

Call upon BMA to investigate IHRA definition’s impact, chilling effect on speech

It calls upon the BMA to immediately investigate the impact of IHRA definition adoption on NHS staff, particularly regarding the “chilling effect on legitimate political speech and professional expression of ethical concerns about Israel’s actions in Palestine.”

It also requires NHS England and all NHS organizations to conduct comprehensive risk assessments before implementing any speech-related policies, ensuring compliance with Article 10 ECHR (freedom of expression) and Section 6 of the Human Rights Act 1998 (public authorities must act compatibly with Convention rights).

The motion also – and perhaps most controversially – asks the BMA to provide urgent support to members who face disciplinary action or professional detriment for expressing their views about Palestine/Israel.

It also asks the BMA to lobby the government and NHS England to revoke the mandatory adoption of the IHRA definition across the NHS until “proper safeguards, consultation processes, and clarity on implementation are established” and urges the BMA to work with other healthcare unions and professional bodies to “challenge any attempts to use the IHRA definition to suppress legitimate debate about human rights violations, war crimes, or colonial practices in international conflicts.”

The core argument of the motion is essentially that the IHRA definition, as applied in the NHS, may be used to restrict legitimate criticism of Israel and discussion of Palestine, and therefore requires closer scrutiny and stronger protections for free expression.

Opponents of this view typically argue that the IHRA definition is intended to help identify antisemitism and protect Jewish staff and patients from discrimination, rather than suppress legitimate political debate.

Jewish people in NHS experience routine ostracism, antisemitism

This comes less than a month after the publication of the UK government advisor on antisemitism, Lord John Mann’s review of antisemitism in the NHS.

As part of the review, Mann heard that Jewish people in the NHS experience “routine ostracism”, with Jewish staff being the only religious group in the latest NHS Staff Survey for whom discrimination from colleagues is rising rather than falling, resulting in some considering leaving the NHS.

He found that antisemitism extends to patients, too, as some Jewish patients reported they did not wish to present for treatment or put off receiving important care.

“It is well-evidenced that racism is persistent in the NHS,” Mann said, adding that “the case for taking action to combat antisemitism and other forms of racism in the NHS is clear.

This post was originally published on here

Prime Minister Benjamin Netanyahu reiterated his comittment to phase out American military assistance to Israel during a meeting with reservists at a combat officers’ course in Gush Etzion last Thursday, the Government Press Office (GPO) announced on Tuesday.

“Right now, we are standing against Iran and its proxies. We have dealt them blows. It is not over yet, but it depends on our strength. Where we will be 30 years from now depends on our strength. Therefore, what we are doing right now is building great strength,” said Netanyahu.

“I want armaments independence. I deeply appreciate the support we have received, and which I have also brought over the years, from our American friends. Today I say: We need our own independent armaments network. We must manufacture our own armaments,” he added.

The prime minister continued, “To break free from dependency, to build more and more power, to integrate more and more technology, and to train more and more generations of commanders like you, because that is what will ultimately determine where we will be. With God’s help and with your help, we will be in a good place.”

The comments come after a proposal was filed in Congress by Rep. Marlin Stutzman (R-Indiana), introducing a resolution calling for negotiations on a new memorandum of understanding (MoU) between the United States and Israel that would phase out an annual $3.8b. of military assistance to Israel, aiming to replace it with a new framework of cooperative defense and trade.

Israel must stand on its ‘own two feet,’ US-Israel relationship one of mutual interest, independence

Stutzman said that Netanyahu expressed support for the proposal in a letter following a meeting between the two last month.

“The time has now arrived for us to move from aid recipient to partner,” the prime minister said in the letter.

According to Stutzman, Netanyahu argued that “it was important to them that they stand on their own two feet and that the relationship between the United States be of mutual interest, independent countries standing together.”

The congressman stressed that ending direct military assistance would not weaken the alliance but instead redefine it around shared strategic interests.

“One of the things that we want to, first of all, acknowledge is that the relationship between the United States and Israel is strong,” he said, adding that the future partnership would be built around “mutual defense projects and joint economic investments and projects.”

The measure has already begun attracting support among congressional Republicans, according to its sponsors, and Stutzman argued that the proposal appeals to both fiscal conservatives and traditional supporters of Israel.

Amichai Stein contributed to this report.

This post was originally published on here

In the basement of a dilapidated building in Yemen’s capital, Sanaa, Nasser Sharhan, 46, sits under the dim light of a candle.

A former government employee whose salary was cut off years ago, he now lives on the brink of starvation, unable to afford even a sack of flour for his five children.

Just a few kilometers from Nasser’s cold bedding, internet servers operated by the Houthis are humming with activity, mining and channeling millions of digital dollars through cyberspace, directing them entirely toward the war effort and the interests of senior Houthi figures.

Traditional sanctions are no longer sufficient to curb this financial machine. The UN Panel of Experts’ latest report on Yemen, submitted to the Security Council in October 2025, said financial sanctions had only limited effectiveness.

This was largely due to the Houthis’ growing reliance on alternative channels and sophisticated smuggling networks, coupled with their complete control over Yemen’s telecommunications sector, which generates substantial revenues that are directed straight into financing the war.

Global trading loopholes allow the Houthis to run a crypto network

This virtual financial system would not have expanded without significant loopholes in global trading platforms.

Investigative reports published by The New York Times, The Wall Street Journal, and Fortune in late 2025 revealed internal documents indicating that Binance, the world’s largest cryptocurrency exchange, facilitated large financial flows benefiting entities linked to Iran because of compliance gaps.

Documents obtained by these media outlets showed that Hexa Whale, a Hong Kong-registered cryptocurrency trading firm, transferred approximately $500 million in Tether to a network connected to Iran, while total transfers from two Binance-linked accounts exceeded $1.7 billion.

Part of these funds reportedly reached digital wallets linked to Iran’s Islamic Revolutionary Guard Corps and the Houthis.

Amin Jameel, a digital analysis and networks engineer, told The Media Line that the Houthis do not operate randomly in cyberspace. Instead, they rely on carefully designed financial architecture centered on the TRON network and the stablecoin Tether or USDT.

According to Jameel, the choice of this network and currency is driven by two main factors. The first is the low transaction costs and high processing speed compared with the Bitcoin network. The second is that Tether is pegged to the US dollar, protecting Houthis funds from the extreme volatility of cryptocurrency markets and providing flexibility similar to cash dollars, but within a virtual environment beyond the oversight of international banking systems.

Jameel added that the laundering and liquidation cycle of these funds comprises three technical stages.

The process begins by receiving transfers via temporary digital addresses that are regularly created and rotated to avoid detection and tracking. The funds are then routed through exchanges operating under limited regulatory oversight or platforms that do not require strict identity verification procedures.

The third and final stage is “cashing out on the ground,” where local and international exchange networks serve as a critical link, converting digital tokens into cash in local or foreign currencies and distributing them directly to support frontlines, purchase weapons, or acquire real estate and foreign citizenships for Houthis abroad.

To understand how this network operates in practice, a technical officer at YemenNet, the public telecommunications company in Sanaa, who spoke on condition of anonymity, said that the Houthis directly exploit the company’s infrastructure and servers by directing computing power and large volumes of data traffic toward Bitcoin and cryptocurrency mining operations for the benefit of influential figures and Houthi entities.

Wider impact of this digital money laundering network on Yemen

This intensive and unlawful use of network resources has further strained an already fragile infrastructure. According to the officer, it is the real reason behind the continued deterioration of internet quality and the cripplingly slow connection speeds experienced by Yemenis.

It has also diverted electricity originally allocated to telecommunications infrastructure to power the mining facilities attached to it.

It is worth noting that technical teams from the Chinese telecommunications company Huawei are present in Yemen to maintain and upgrade telecommunications networks under commercial contracts.

The officer alleged that this technical cover may, in some cases, be used to equip servers capable of handling the massive data loads required for mining operations without attracting suspicion. However, these specific allegations could not be independently verified as of the publication of this report.

The Houthis digital activities are not limited to external financial support. Their financial machine has extended into international shipping routes in the Red Sea and the Bab al-Mandab Strait.

Reports from international media, including Germany’s Deutsche Welle public news broadcaster, suggest that the Houthis have imposed what it describes as “safety fees” on certain cargo vessels, shipping agents, and insurance companies in exchange for guarantees that they will not be targeted by drones or missiles.

The significance of this scheme lies in the requirement that payments be transferred directly to temporary digital wallets, providing the group with immediate liquidity that is difficult to trace or freeze through the conventional SWIFT banking system.

The Houthis employ extortion and blackmail to maintain the network

Faheem Hassan, a local cryptocurrency broker and trader in Sanaa, told The Media Line that the Houthis have imposed strict oversight on the digital wallets of businesspeople and local traders operating in areas under their control.

According to Faheem, they are regularly subjected to extortion, forced to pay levies, and to surrender portions of their profits under threat of asset confiscation or arrest.

Hassan added that the Houthis now possess extensive information about local traders in the cryptocurrency market and did not rule out the possibility that some may be recruited for future operations.

At a time when the United Nations classifies Yemen as the location of one of the world’s worst humanitarian crises, invisible blockchain networks have been sustaining a parallel reality, one in which hundreds of millions of dollars in cryptocurrency flow through digital channels to finance drone manufacturing and purchase weapons.

It is perhaps the starkest paradox of Yemen’s war: a population living below the poverty line while a de facto authority accumulates transnational wealth at the click of a button and directs it toward the war effort.

This post was originally published on here

Prime Minister Benjamin Netanyahu stepped down from the witness stand on Wednesday after taking the stand on 98 hearing days since his testimony began in December 2024.

Throughout that period, Netanyahu regularly moved between the courthouse, security briefings on the ever-changing local and regional developments, and the Knesset, including amid efforts to stabilize his frayed coalition.

The prosecution completed its cross-examination last week, after 59 hearing days. Netanyahu’s final appearances were part of the defense’s limited re-examination stage, intended to clarify issues that arose during cross-examination rather than to reopen the evidence more broadly.

At the start of Wednesday’s hearing, Netanyahu’s attorney Amit Hadad again complained about the limits the court had placed on his questioning. He argued that the restrictions had prevented the defense from fully addressing what it saw as discrepancies between Netanyahu’s testimony and that of other witnesses.

Presiding Judge Rivka Friedman-Feldman responded that the defense’s argument had been recorded throughout the proceedings and had not disappeared from the case. Judge Moshe Bar-Am added that no improper impression had been created because the material remained before the court.

Netanyahu testimony now complete, defense continues presenting witnesses

Hadad then returned to Case 4000, the Bezeq-Walla affair. He noted that the defense had reviewed 315 coverage items with Netanyahu during his direct testimony, while the prosecution had focused on roughly 14 or 15 items during cross-examination.

Prosecutor Yehudit Tirosh objected, saying Netanyahu’s answers had already been clear. The judges allowed him to respond.

Netanyahu said Walla had been “a very hostile website” and argued that the few items cited by the prosecution did not establish favorable coverage or the “unusual responsiveness” alleged in the indictment. He said the prosecution had omitted what he described as thousands of negative articles about him.

With Netanyahu’s own testimony now complete, the defense will continue presenting its remaining witnesses. Those hearings will take place at the Jerusalem District Court; Netanyahu’s testimony alone was moved to a Tel Aviv District Court venue for security reasons.

That will be followed by the summary stage, in which the defense and prosecution will submit their closing arguments before the court eventually issues a verdict. No timetable has been set, and the remaining proceedings could still take years.

Netanyahu’s trial concerns three separate cases; he was indicted in 2020.

In Case 1000, known as the gifts affair, he is accused of fraud and breach of trust over expensive cigars, champagne, and other gifts he received from wealthy friends, including businessman Arnon Milchan. Netanyahu has said the gifts were part of longstanding personal friendships and that he did not advance Milchan’s interests.

Case 2000 centers on recorded conversations between Netanyahu and Yediot Aharonot publisher Arnon “Noni” Mozes. Prosecutors allege that Mozes offered Netanyahu more favorable coverage in Yediot and Ynet in exchange for steps that could restrict the rival free daily Israel Hayom. Netanyahu is charged with fraud and breach of trust, while Mozes is charged with offering a bribe. Netanyahu has argued that he never intended to act on any proposed arrangement.

Case 4000 concerns allegations that Netanyahu advanced regulatory decisions benefiting Bezeq owner Shaul Elovitch while seeking favorable coverage and editorial intervention at the Elovitch-owned Walla news site. Netanyahu denies wrongdoing and has rejected the prosecution’s claim that there was an improper exchange between regulatory decisions and media coverage.

‘They did not look for a crime, they looked for a person’

At the close of his testimony on Wednesday, Netanyahu delivered a broad denunciation of the investigations and prosecution, saying law enforcement authorities had spent a decade trying to build a case against him rather than examining evidence objectively.

“They did not look for a crime; they looked for a person,” Netanyahu told the judges. “They wanted Netanyahu’s head.”

He said investigators had pursued leads in countries including the Philippines, Mexico, the United States, Europe, and Australia, at what he described as a cost of hundreds of millions of shekels, but had “found nothing, because nothing happened.”

Netanyahu alleged that the investigations had also harmed his associates and their families, accusing authorities of using improper methods to pressure witnesses and locate evidence against him.

“Because they did not find regulatory favors, they invented an offense,” he said, referring to the prosecution’s allegations in Case 4000.

Turning to Case 2000, Netanyahu said he still did not understand the basis of the allegation against him. He argued that he had acted against Mozes’s interests rather than advancing them and said he had been willing to risk his government in opposing legislation that he believed would benefit Mozes.

“To this day, I do not understand what I am charged with in Case 2000,” Netanyahu said. “I understand the fictitious construction in Case 4000, but with Noni Mozes, I do not even understand the construction.”

On Case 1000, Netanyahu reiterated his position that the gifts he received from Milchan were exchanged within a longstanding friendship and did not constitute a conflict of interest. He said he had acted against Milchan’s economic interests and accused prosecutors of trying to turn personal gifts into a criminal breach of trust.

“A breach of trust is extorting witnesses, threatening them,” Netanyahu said. “We are not a police state.”

“After 10 years of hell,” Netanyahu said, “the only thing that can be restored is the truth.”

Hadad then thanked the judges for their patience in conducting the proceedings.

This post was originally published on here

Russian Foreign Minister Sergei Lavrov said on Wednesday that Russia remained committed to understandings reached between presidents Vladimir Putin and Donald Trump at a summit in Alaska last August and was not willing to take any other interim decisions or bend to ultimatums.

Russian officials regularly refer to the so-called “Spirit of Anchorage,” shorthand, say analysts, for what Moscow interpreted as a possible agreement that would see Ukraine’s forces withdrawing from the remainder of Donbas they do not control in return for Moscow freezing the battle lines elsewhere. Kyiv has repeatedly made clear it will not hand over any of its territory to Russia without a fight.

“In August last year, the leaders of Russia and the United States reached a number of understandings regarding political ways out of the Ukrainian crisis. We remain committed to those understandings,” said Lavrov.

Russia expects negotiations with US over Ukraine to resume when Iran deal finalized

The Kremlin said on Wednesday that US envoys Steve Witkoff and Jared Kushner were busy with other issues, but that it expected contacts with them over Ukraine would resume once they became available.

Kremlin spokesman Dmitry Peskov made the comment when asked if other envoys could be brought in for discussions on Ukraine while the pair were otherwise engaged. Witkoff and Kushner are part of the US team negotiating a peace deal with Iran.

“We understand that contacts will continue,” Peskov said. “Naturally, they are occupied with other matters right now, but at some point they will become available, and we are counting on further work.”

He said Russia was grateful to the envoys for their efforts on Ukraine, which he described as “highly constructive. They are willing to listen to all sides, that is especially valuable right now.”

The positive comments followed accusations from senior Russian officials earlier this week that the United States was failing to follow through on “understandings” reached between presidents Vladimir Putin and Donald Trump at a summit in Alaska last August.

This post was originally published on here

Nearly 1,500 journalists from at least 65 countries have received emergency support from Reporters Without Borders after being forced into exile since 2021, according to data released June 19 ahead of World Refugee Day. Afghanistan accounted for almost half the cases.

Reporters Without Borders, known by its French acronym RSF, said it supported 1,468 journalists between 2021 and 2025 who fled threats, imprisonment, or threats to their lives. Over the same period, the number of countries from which journalists fled rose from 19 to 40. In 20 of those countries, at least 10 journalists were forced to leave.

Afghanistan was the largest source country, with 677 journalists supported by RSF since the Taliban returned to power in August 2021. Russia was next, with 160 journalists supported by RSF, while 101 Burmese journalists supported by RSF fled Myanmar after the military seized power in 2021.

RSF said the trend has also expanded across Sub-Saharan Africa, especially the Sahel and eastern Democratic Republic of the Congo, and in parts of Latin America, where political violence and organized crime have made independent reporting increasingly dangerous.

The organization warned that the forced exile of journalists weakens access to reliable information and creates openings for disinformation, including in the context of Russia’s war against Ukraine.

Vianney Loriquet, data journalist and head of the World Press Freedom Index at RSF, said the figures show a growing global pattern of repression.

“The exile journeys of journalists supported by RSF paint a global picture of repression year after year,” he said. Referring to the number of reporters forced to flee over the past five years, he said, “This is a staggering figure, yet it represents only a fraction of a much larger phenomenon.”

Loriquet said the dangers often continue after journalists leave their home countries, citing risks including extortion, deportation, and administrative abuse. He urged governments to strengthen protections for exiled journalists through emergency visas, residence permits, resettlement pathways, and safeguards against refoulement, the forcible return of people to countries where they may face persecution.

Victoria Lavenue, head of RSF’s Assistance Office, also warned that exile does not guarantee safety.

“When a journalist is forced to flee his or her country, exile does not put an end to the threats,” she said. “Precarious living conditions, isolation and transnational repression often compound administrative and linguistic difficulties in host countries.”

She said protecting exiled journalists is necessary to safeguard access to reliable information and democratic debate, and called on states to provide stronger reception and integration measures. RSF has recommended that host countries improve legal protections, offer financial assistance, and help exiled journalists continue their work.

Celia Mercier, head of RSF’s South Asia Desk, told The Media Line that Afghan journalists have fled the country since the Taliban takeover because of severe press freedom restrictions, censorship, arrests, detention, torture, and persecution.

Exile does not ensure journalists’ safety

She said exile has not ensured their safety, with many journalists facing insecurity, legal uncertainty, harassment, financial hardship, and transnational repression. Around 200 Afghan journalists in Pakistan are at risk of arrest, extortion, and forced deportation, she said.

Mercier said the forced exile of journalists represents a global threat to democracy and the right to information because it deprives societies of independent reporting on corruption, conflict, and human rights abuses.

RSF supports exiled journalists through emergency relocation grants, administrative assistance, advocacy against forced returns, and limited financial and capacity-building support for media outlets continuing their work abroad, Mercier said.

Iqbal Khattak, RSF’s representative in Pakistan, told The Media Line that the crisis facing exiled journalists is approaching a critical point.

“If this trend continues, it will have disastrous consequences for journalists and citizens who will be deprived of independent and reliable information,” he warned.

Khattak said criticism of ruling elites is increasingly being criminalized in some countries, while restrictions on public access to information deny citizens basic rights. He said Pakistan must sharply improve conditions for journalists so they can work independently and professionally.

He attributed the global rise in journalist exile to state pressure, authoritarian practices, and conflict, and called for collective international action and stronger support systems for at-risk media workers.

“RSF is doing its part by highlighting unsafe countries and supporting those in exile. We advocate for safe relocation with governments and provide training to help them continue their journalism from abroad,” Khattak said, adding that strong political will is essential to sustain independent journalism.

For Afghan journalists, the dangers are particularly acute. Azita Nazimi, a veteran Afghan journalist and former television presenter for TOLOnews and other prominent outlets, was among the women journalists who challenged Taliban chief spokesman Zabihullah Mujahid after the group seized power in 2021.

“That interview exposed the group’s true mentality,” Nazimi told The Media Line. “I saw first-hand that they were systematically oppressive toward women’s inclusion in society.”

“As the regime cracked down, female journalists became primary targets. My home was raided multiple times, but I managed to escape,” Nazimi recalled. “Because I was a recognizable face on television, concealing my identity was impossible. Fear and absolute uncertainty forced me to flee to Pakistan.”

Nazimi said exiled Afghan journalists in Pakistan and Iran face severe security risks, including persistent threats of deportation. “They remain deeply vulnerable, knowing the Taliban commands significant local support in both host countries,” she said.

She said the logistical challenges of exile are compounded by the psychological toll of being separated from home and family.

Abdul Haq Hamidi, a former Afghan journalist now based in Nice, France, previously served as editor-in-chief of the Gardish-e-Etilaat news agency and worked with several media outlets in Kabul. He told The Media Line that after the Taliban takeover, conditions in Afghanistan made his work increasingly dangerous.

Safety does not erase the trauma of exile

In January 2024, he said, he was detained for three days, beaten, tortured, and humiliated. The experience left him fearful and helpless, he said, while continued surveillance and pressure further threatened his professional freedom and personal safety.

“The threats ultimately forced me to leave Afghanistan to protect my life and family. I sought refuge in Pakistan, where I lived for nearly two years in uncertain and exhausting conditions under fear of deportation,” he explained, adding that with RSF’s support and financial assistance, he was able to relocate to France in February 2026.

Hamidi said reaching safety in France has not erased the trauma of exile. “It is not easy,” he said, “to escape the shadow of fear, memories of torture, psychological pressure, and the sorrow of losing one’s homeland.”

He said exiled journalists often carry the daily burden of professional displacement, instability, and the loss of a life built over many years. Even in safer countries, he said, many do not feel fully secure.

Selsela, an exiled Afghan female journalist identified only by her first name for security reasons, said she was targeted by Taliban officials over her critical reporting. After evading multiple arrest attempts, she fled Afghanistan, only to face the threat of deportation in her host country.

“In exile, we face multiple hardships, including uncertain legal status, the threat of deportation, economic difficulties, limited employment opportunities, and the psychological burden of separation from family and an uncertain future,” Selsela said.

Anxiety among exiled Afghan journalists has grown following the recent deportation of a senior Afghan journalist from Turkey.

“For journalists in limbo, safety requires more than surviving the initial escape. True security exists when a person has legal residency, the ability to continue their professional work, and confidence that they will not be sent back to a place where their life may be at risk,” she said.

This post was originally published on here

Countries are accelerating efforts to build sovereign artificial intelligence (AI) capabilities as governments move to secure the data centers, chips, and energy supplies needed to operate advanced artificial intelligence systems. 

According to Ezra Gardner, co-founder of Varana Capital and who has worked extensively in global technology infrastructure, the shift reflects a growing recognition that AI capacity is now inseparable from national security.

In an interview with The Jerusalem Post, Gardner said the emerging Pax Silica Initiative shows how governments are reorganizing around the demands of AI. 

The Pax Silica coalition is led by the United States and joined by partners including Japan, South Korea, India, the United Kingdom, Israel, the United Arab Emirates, and Qatar, as well as several EU member states. Membership is expected to reach 24 countries, with Argentina, Chile, Costa Rica, Kazakhstan, and Panama also set to join. 

The coalition aims to strengthen supply chains for critical minerals, semiconductor manufacturing, and high‑density data centers, all of which are required to support large‑scale AI models.

According to Gardner, “The map is being redrawn as to who our allies are,” noting that access to chips and the infrastructure that powers them has become a strategic priority. 

He described data centers as “the new backbone of national resilience,” with governments increasingly viewing them as essential to defense planning, intelligence operations, and economic stability.

The push for sovereign AI has intensified over the past year as nations seek to reduce reliance on foreign technology providers. Governments in Europe, the Middle East, and Asia have announced plans to build domestic AI clouds, secure long‑term chip supplies, and expand energy‑intensive data‑center capacity. 

The concentration of advanced chip manufacturing in a small number of countries, combined with rising geopolitical tensions, has pushed governments to diversify production and invest heavily in domestic infrastructure.

The European Commission recently presented a tech sovereignty package to boost homegrown technologies and reduce dependency on American and Chinese companies. Currently, Europe imports most of its tech services from companies like Google or Amazon, and the package places a significant focus on sovereign cloud infrastructure, AI services, open source, and chips.

The Netherlands’ entry into Pax Silica places ASML, the world’s most important chip‑manufacturing equipment supplier, at the center of new AI supply‑chain coordination. This move comes amid ongoing tensions over export controls on ASML’s advanced lithography tools to China, Gardner explained.

“We live in a world where geopolitics and technology are inseparable. Those who champion technological innovation will shape the future, and we must ensure that Europe plays a leading role in this,” European Commission Executive Vice President Henna Virkkunen was quoted by Euronews as saying.

Energy: The new strategic bottleneck

Gardner argues that the energy crisis behind AI is becoming just as strategically important. Training frontier‑level models requires vast amounts of electricity; the physical grid is struggling to keep up, and the global AI boom is now colliding with a hard physical limit: energy. 

Data centers are also overwhelming regional grids. For example, reliance on more than 10,500 diesel generators in Virginia has triggered environmental and regulatory pushback that threatens to slow new AI infrastructure. Energy resilience has become a core pillar of sovereign AI planning.

At the Datacloud Global Congress in Cannes, Israeli firm Phinergy introduced an aluminum‑air backup system positioned as a zero‑emission replacement for diesel. The technology delivers instant response, 48 hours of continuous power, and multi‑day operation through hot‑swappable aluminum plates. Google and Microsoft shared the stage with Phinergy’s CEO, signaling that clean backup power is becoming a strategic priority for the cloud industry.

Phinergy’s system is now being validated by the Net Zero Innovation Hub, led by Google and Microsoft, through a 500 kW, 10 MWh deployment. Global operators such as Japan’s Nippon Telegraph and Telephone Corporation (NTT) have highlighted aluminum‑air systems for long‑duration storage, with the backup‑power market projected to hit $150 billion to– $200b. within five years. The technology has already proven itself in crisis conditions, reinforcing clean, resilient energy infrastructure as a new requirement for national AI sovereignty.

National AI strategies

Israel, the UAE, and South Korea have each launched national AI strategies that include dedicated sovereign compute clusters designed to ensure that sensitive data and critical models remain under domestic control. 

The Pax Silica framework, announced by participating governments as a long‑term economic and security partnership, seeks to coordinate investment across the entire AI ecosystem – from critical minerals to fabrication plants to the data centers that host AI models. Officials involved in the initiative have said the goal is to ensure that allied nations can build and deploy advanced AI systems without disruption.

Speaking to the Post in January,  US Under Secretary of State for Economic Affairs Jacob Helberg said that “we want to focus on the arteries of the supply chain with logistics. We want to focus on the muscle on industrial capacity and the fuel – energy and capital – that will ultimately be propellent for everything else.”

Gardner noted that the scale of infrastructure required for modern AI is driving unprecedented levels of investment. Training frontier‑level models demands vast amounts of electricity, specialized chips, and secure facilities capable of handling sensitive data.

Ezra Gardner (credit: Varana Capital)

Quantum tech a priority

Quantum is also a matter of national security, he said, adding that “America and China have already stolen each other’s data. They just can’t crack the code to read it yet.”

Quantum computers have the potential to solve computational problems at breakneck speeds, making the technology a priority for countries.

Earlier this week, US President Donald Trump signed two executive orders for the US to maintain a strategic technological advantage in this field. The executive orders give the American government six months to update the country’s National Quantum Strategy and establish a more cohesive approach to the commercialization and deployment of quantum technology.  It also aims to work to mitigate future cyber threats that could come from these computers.

As countries continue to expand their AI capabilities, Gardner said the competition will increasingly center on who can build and protect the infrastructure that makes AI possible. He described the current moment as a global realignment, with governments moving quickly to secure the physical foundations of their technological future.

For Gardner, the next 12 months will see a “rapid sequence of events” for quantum, AI, and energy infrastructure. 

“If something is going to happen, it’s going to happen this year,” he said. “Stay tuned; this is just the preview.”

This post was originally published on here

Electric-vehicle maker Lucid Group is shrinking again. In a filing with the Securities and Exchange Commission on Monday, June 22, the company said it will cut roughly 18% of its U.S. workforce — about 1,500 jobs — and eliminate the role of chief operating officer as it scrambles to slow its cash burn and match production to weak demand. It is the second round of deep cuts this year, following a 12% reduction in February, and the first major move by new chief executive Silvio Napoli, who took the top job on June 1.

The reductions hit full-time employees, contractors and hourly factory workers, and come paired with a decision to eliminate the second production shift at Lucid’s AMP-1 plant in Casa Grande, Arizona, its largest factory. The company expects about $32 million in one-time severance and transition charges and roughly $158 million in annual savings once the plan is finished, which it expects by the end of the third quarter. “These are difficult decisions taken to align production with demand, reduce inventory, and adapt to declining market conditions,” a Lucid spokesperson said.

The same filing confirmed that chief operating officer Marc Winterhoff is leaving immediately, with his role scrapped entirely. Winterhoff had served as interim CEO for more than a year before Napoli, a former chairman and chief executive of Swiss elevator maker Schindler Group, took over. His exit adds to a long run of departures in Lucid’s executive ranks and underscores how sharply the new boss is reshaping the company in his first weeks.

The cuts reflect a brutal stretch. Lucid lost about $2.7 billion in 2025 on revenue of just $1.35 billion, and burned through roughly $3.8 billion in cash. In the first quarter of 2026, revenue rose about 20% from a year earlier to $282 million, but the company produced 5,500 vehicles while delivering only 3,093, leaving costly inventory on the ground, and its gross margin ran deeply negative. Lucid has suspended its 2026 production guidance — once set at 25,000 to 27,000 vehicles — and says it will give a fresh outlook at its second-quarter earnings. It started the year with roughly 9,000 employees worldwide.

Investors have already punished the stock. Lucid shares fell about 4% on Monday to around $5, and are down roughly 50% in 2026, trading near a 52-week low of $4.47 after touching $33.70 over the past year. Wall Street is cautious but not hopeless: of 11 analysts tracked by TheStreet, eight rate the stock a hold, two a sell and one a buy, with an average 12-month price target near $9.75 — a figure that implies large upside only if Napoli’s turnaround takes hold.

Lucid’s troubles are partly its own and partly the industry’s. U.S. EV demand has cooled after the $7,500 federal tax credit was eliminated under the Trump administration and several major automakers pulled back their electric plans. Survival has leaned heavily on Saudi Arabia’s Public Investment Fund, Lucid’s majority owner, which has poured in billions. The company is betting its future on two coming mass-market models — the Cosmos crossover, expected to start near $50,000 and rival the Tesla Model Y, and the larger Earth — along with a robotaxi partnership with Uber and Nuro slated to launch later this year.

For now, the message from Napoli is retrenchment. By cutting headcount, idling a shift and stripping out a layer of management, Lucid is buying time to reach the mass-market launches it hopes will finally bring scale. Whether that is enough to outrun the cash burn — without leaning even harder on its Saudi backer — is the question investors will be asking when the company reports second-quarter results.

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

FIRST ON FOX: Bank of America is expanding its signature “Museums on Us” program for the July 4th weekend, offering eligible cardholders free admission to 250 museums and cultural institutions nationwide as the U.S. marks its 250th anniversary.

Bank of America, Merrill and Bank of America Private Bank credit and debit cardholders can receive free general admission to 250 cultural and civic institutions on July 4 and July 5 by presenting an eligible card and a government-issued ID, the financial institution said.

“Visiting one of these museums is an opportunity to celebrate the people, places and institutions that have shaped our country and continue to define our communities,” Meghan Hughes, head of arts and heritage at Bank of America, said in a statement. “As people travel and gather for July 4th weekend, we’re encouraging cardholders to take advantage of Museums on Us and to experience these additional programs celebrating our nation’s history.”

BANK OF AMERICA TO HIRE NEARLY 4,000 SUMMER INTERNS AND CAMPUS RECRUITS

“Museums on Us” typically gives eligible Bank of America, Merrill and Bank of America Private Bank cardholders free general admission during the first full weekend of each month. This July, the bank is expanding the program to 250 participating institutions as part of its broader support for America 250.

Bank of America is also providing grant support to the National Archives in Washington, D.C., allowing the institution to extend its operating hours until 10 p.m. through July 5. The bank said the extended hours are intended to give more visitors the chance to view the Declaration of Independence.

The company is backing additional America 250 programming in several major markets.

In Boston, Bank of America is supporting free access to the MA250 + Boston Pops Fireworks Spectacular, described as one of the country’s oldest and largest Fourth of July events.

TRUMP ADMIN TO TELL BANKS IMMIGRATION STATUS MAY BE CONSIDERED IN MORTGAGE, CREDIT DECISIONS

In Detroit, the bank is supporting The Henry Ford’s Salute to America and the Michigan Science Center’s “Science of Safety” initiative.

In Miami, the Freedom Tower will join “Museums on Us” and offer free admission throughout the duration of the FIFA World Cup 2026.

Bank of America is also supporting presidential history initiatives, including the Theodore Roosevelt Presidential Library, which is scheduled to open July 4 in Medora, North Dakota. The bank has made a $5 million founding gift to the library, which will focus on Roosevelt’s presidency, conservation and civic responsibility.

The company has also announced support for the Smithsonian’s National Portrait Gallery through an Art Conservation Project grant to assess and conserve 110 presidential portraits and frames.

STANDARD CHARTERED CEO WALKS BACK COMMENTS ABOUT REPLACING ‘LOWER-VALUE HUMAN CAPITAL’ WITH AI

In New York, Bank of America has committed to raising $500,000 and matching those funds for a total of $1 million in support of the Intrepid Museum’s mission of honoring service members.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The bank has also partnered with Vet Tix to offer thousands of free FIFA World Cup 2026 tickets to veterans, current military members and first responders.

A full list of participating museums is available at BankofAmerica.com/MuseumsonUs.

This post was originally published here

Asia’s biggest oil buyers, having stocked up aggressively during the four-month war that choked off Persian Gulf crude, are now in no hurry to resume buying from the Middle East—even as the Strait of Hormuz reopens and tankers begin moving again.

The reluctance is one reason oil prices have kept falling rather than spiking, and it points to a lasting change in how the world’s energy trade is wired.

The U.S. Energy Information Administration recently cut its 2026 global demand forecast, saying high prices and reduced availability have curbed consumption, particularly in Asia. EIA Administrator Tristan Abbey said any return to pre-conflict trade flows must account for “the partial restructuring of the global oil market that has already occurred.”

The clearest example is India.

According to a Bloomberg report, Indian refiners currently hold enough crude to last about two months, leaving them in no rush to buy Middle Eastern cargoes now able to flow through the reopened strait. Middle Eastern producers have approached Indian buyers to resume long-term contract volumes, but the buyers have been reluctant, and the Indian government has not yet authorized Indian tankers to sail to the Persian Gulf to load those cargoes.

India’s hesitation reflects a broader shift that took place during the conflict.

Historically, India was one of the largest buyers of Gulf crude because of its proximity to the region. But when tanker traffic through the Strait of Hormuz became unreliable, refiners rapidly diversified supply sources and turned heavily toward Russian oil, aided by sanctions waivers and discounted pricing.

Russian crude flows to India averaged approximately 1.76 million barrels per day in May, about 63% higher than in February, according to shipping data.

The wartime demand collapse across Asia was dramatic.

Chinese seaborne crude imports fell by roughly 3.6 million barrels per day between February and April. Major declines were also recorded in Japan, South Korea, and India.

Combined crude imports into China and Japan fell by roughly 40%, representing nearly 6 million barrels per day of reduced demand. Because Gulf producers normally supply about 60% of Asia’s imported crude, refiners were forced to slash processing rates, draw down inventories, and secure alternative supplies from Russia, the United States, and Atlantic Basin exporters.

Now the market faces a very different problem.

More than 60 million barrels of delayed crude shipments aboard nearly three dozen supertankers are expected to head toward Asia in the coming weeks as the Strait of Hormuz returns to normal operations.

But many refiners are already well supplied.

The combination of full storage tanks and a fresh wave of incoming cargoes is weighing on prices rather than lifting them.

Oil markets have responded accordingly.

Brent crude has fallen sharply from its wartime highs as fears of a prolonged disruption faded. Major banks have also reduced their forecasts.

Morgan Stanley now expects Brent to average around $80 per barrel during the fourth quarter, down from an earlier forecast of $100. Goldman Sachs has cut its fourth-quarter outlook to $80 from $90, while predicting tanker traffic through the Strait of Hormuz will fully normalize by the end of July.

The decline represents a dramatic reversal from the fears that dominated markets when the conflict began. At the height of the crisis, some analysts warned that oil could reach $200 per barrel if Gulf exports remained disrupted.

Instead, one of the worst supply shocks in modern energy history has produced the opposite result.

For consumers, the reason is simple: Asia already has the oil it needs.

The stockpiles accumulated during the conflict, combined with softer demand and alternative supply routes, have reduced the urgency to purchase additional barrels from Gulf producers.

The larger story is who gained and lost market share.

During the disruption, Russia and the United States stepped into the gap left by Gulf exporters. Traders increasingly believe some of those gains could prove permanent if Asian refiners continue prioritizing supply diversification rather than returning to old buying patterns.

The next major signal for oil markets may come from China, the world’s largest crude importer. Many analysts view a return to China’s pre-war import pace of more than 10 million barrels per day as the event most likely to tighten global supplies and support higher prices.

Until then, Gulf producers are finding that reopening shipping lanes does not automatically bring customers back.

After months of scrambling to secure energy supplies, Asia’s refiners have inventories, alternatives, and time on their side. Their patience is quietly reshaping global oil flows—and helping keep energy prices lower than many expected.

JBizNews Desk | New York
© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

The IDF on Wednesday struck four rocket-firing positions that Hamas has newly constructed in Gaza since the October 2025 ceasefire.

In fact, according to the IDF, Hamas constructed these platforms relatively recently.

This could indicate that Hamas is now working harder than before to redevelop rocket firing capabilities on Israel to intimidate the Jewish state into heeding its demands.

Since October 2025, Hamas and Israel have been in a standoff with the Gaza terror group demanding that Israel allow substantial moves for rebuilding Gaza before it takes any disarmament actions, while Jerusalem has said it would only allow broader rebuilding once Hamas at least significantly enters the disarmament process.

While months ago there were rumors and reports that Hamas had agreed to partial disarmament in stages, since then, and especially since Iran was seen as pushing back on American power in the region, there has been little progress.

IDF strikes a Hezbollah launch position in Gaza (video credit: IDF Spokesperson’s Unit)

Increased pace of targeted killings of senior Hamas officials

Israel has also protested to the US that the 600-plus trucks per day of aid into Gaza are more than is needed and are just enriching Hamas, but Washington to date has rejected any reductions.

In the meantime, in recent months, the IDF, clearly with a green light from the US, has increased its pace of targeted killings of senior and mid-level Hamas officials.

After two consecutive military chiefs of Hamas were killed in mid-May, only weeks apart, the Gaza group has not even named a new leader.

This post was originally published on here

“Israel has no choice but to fully withdraw from all Lebanese territory, without retaining an inch,” Hezbollah chief Naim Qassem said on Tuesday, in his second speech delivered in recent days.

“We will cooperate with the Lebanese Army to the utmost extent, just as we cooperated previously, and Israel has no right to interfere in Lebanon’s internal affairs,” the terror chief said, seemingly ignoring recent accusations from more than 400 Lebanese officials in recent days insisting that Iran cease its interference. “The political authority in Lebanon has a mere guarantee named the Resistance.”

“We exercised patience for 15 months; this patience was part of our strategy. Don’t mistake it for retreat. When we saw that the opportune moment arrived on March 2nd, we seized this opportunity and fought this battle,” he said, referencing the day Hezbollah dragged Lebanon into a renewed conflict with Israel in response to the assassination of Ayatollah Ali Khamenei.

Ceasefire in Lebanon is a key condition in the Memorandum of Understanding

While Beirut discussed a ceasefire and security measures in a Washington-brokered agreement, Iran has pursued a ceasefire in Lebanon as a key condition in its Memorandum of Understanding with the United States. “A Call to Save Lebanon,” endorsed by political and religious leaders in Lebanon, has asserted that such an agreement must be pursued by the legitimate state, not Iran.

The renewed conflict left 20% of Lebanon’s population displaced, and researchers have assessed, based on the growing attempts to establish political Shi’ite alternatives to Hezbollah, its dwindling numbers at rallies and public opinions expressed in Lebanese media that the war has severely damaged support for the group.

Qassem’s statement came as Israel and Lebanon shared another round of talks on a potential pilot solution, according to international reports.

While the Hezbollah official insisted that Israel would withdraw from the country according to an established “timeline,” Israeli officials have demanded the continued presence of a buffer zone along the border and the training and vetting of Lebanese troops to monitor Hezbollah’s adherence to a ceasefire agreement.

Hezbollah has frequently decried the diplomatic talks with Israel, even seemingly threatening to return the country to a state of civil war in May.

A senior Lebanese security official told Reuters that Wednesday’s discussions would focus on specific military-to-military issues, including on the pilot zones. He affirmed that a timeline for Israel’s withdrawal would be decided, but added that it would only emerge after the talks conclude on Thursday.

This post was originally published on here

Amid growing concerns over a potential kidnapping attempt in southern Lebanon, Israeli security officials said Tuesday that senior officials reviewed the situation involving dozens of Hezbollah terrorists trapped in the village of Tebnit.

The IDF recently succeeded in cornering dozens of Hezbollah terrorists in an underground complex in Tebnit. Shortly thereafter, troops managed to seal off the entrances to the underground system, and messages were subsequently relayed to Israel through various mediating parties in an effort to secure the safe exit of those inside.

According to a security source, “Israel’s response to all mediating parties was clear: surrender or be killed inside the underground system.”

Additional sources involved in the details of the negotiations told Walla that under the current ceasefire framework, the militants have the option to surrender to the IDF, but at this stage, they are choosing to remain inside the underground system

“Things can change in an instant, but until then, it is important to understand that Israel sees significance in an effective model that will enable the demilitarization of the area from militants and Hezbollah terror infrastructure. Therefore, the focus is on a pilot program,” a source familiar with the details told Walla.

The source added that a similar scenario previously unfolded with Hamas operatives who were trapped in Rafah, and who ultimately were forced to emerge and either fight or surrender.

Concern that Hezbollah will take IDF soldiers hostage to negotiate for their trapped comrades

Meanwhile, concern is rising among Israeli forces operating in southern Lebanon that Radwan Force operatives in the area, who are currently avoiding direct confrontations and close-range engagements with Israeli troops, may attempt to identify an operational opportunity on the ground and carry out a kidnapping attack against IDF soldiers in order to facilitate negotiations.

Troops on the ground have been briefed and instructed to move in pairs or groups of three at all times, and to ensure rapid coordination between air and ground forces in the event of an attempted attack or assault on a tank, armored vehicle, jeep, or building.

A military source told Walla that “Some of Hezbollah’s underground systems in southern Lebanon could be intended to facilitate a kidnapping attack during an assault on IDF soldiers and assist in escape or holding captives.” The source emphasized that most of the entrances to the underground systems are camouflaged and difficult to locate.

This post was originally published on here

A startup developing treatments for eye diseases has raised $330 million from investors as it readies for late-stage testing.

Ollin Biosciences is about to begin a Phase 3 trial of a treatment for both diabetic macular edema and wet age-related macular degeneration. The conditions affect millions of Americans and can lead to vision loss. 

Ahead of the trial, Ollin told STAT it had raised the Series B funding from an assortment of established biotech investors, a pension fund, and even crossover investors — a breed of private investors who will take a stake in a company shortly before it moves over to the stock market. TCGX and ARCH Venture Partners co-led the funding round, which was one of the largest Series B rounds for a biotech company in the last two years. 

Continue to STAT+ to read the full story…

This post was originally published here

Commerce Secretary Howard Lutnick signaled that the Trump administration is preparing for a potential crackdown on heavily subsidized Chinese robotics imports, warning U.S. business leaders that the global race for robotics dominance is rapidly becoming a national-security issue.

Speaking at a closed-door meeting with top executives from SpaceX, Boston Dynamics, JPMorgan Chase, Goldman Sachs, Siemens, and Rockwell Automation, Lutnick said the Commerce Department is reviewing Chinese state-backed robotics imports and could take action once that review is completed.

“This is the arms race that is coming,” Lutnick reportedly told attendees, according to a Politico report citing participants in the meeting.

The comments mark one of the clearest signals yet that Washington may be preparing to expand its technology confrontation with Beijing beyond semiconductors and artificial intelligence into the rapidly growing robotics sector.

China currently dominates much of the global robotics supply chain. The country deployed approximately 1.8 million industrial robots in 2023, roughly four times the U.S. total, and analysts project Chinese companies could control nearly 80% of the global humanoid robot market by mid-2026.

Humanoid robots—machines designed to walk, lift, carry objects, and perform tasks traditionally handled by people—are increasingly viewed as the next major phase of automation. Chinese companies including Unitree, Inovance Technology, and Tuopu Group have emerged as leading players, aided by substantial government support and lower manufacturing costs.

According to attendees, Lutnick framed the issue as both an economic and national-security challenge. One executive reportedly warned that allowing critical industries to depend on foreign robotic systems could leave the United States with “an American brain and a Chinese body,” a scenario participants described as strategically dangerous.

The warning comes as congressional concern over Chinese robotics accelerates.

Just one day before the meeting, the House Select Committee on the Chinese Communist Party raised alarms over Chinese robotics manufacturer Unitree, which has been designated by the United States as a Chinese military company. Committee Chairman Rep. John Moolenaar and other lawmakers have pushed for restrictions on Chinese-made humanoid robots entering the American market, including sales through major online retailers.

The Commerce Department has already begun laying the groundwork for possible action.

Earlier this year, officials convened a robotics supply-chain roundtable, and on April 30 the department launched a national-security review examining Chinese drones and robotics systems. The review is expected to evaluate whether subsidized imports could undermine domestic manufacturing capabilities or create security vulnerabilities.

Potential responses under consideration reportedly include:

  • Favoring U.S.-made robotics systems in federal procurement.
  • Restricting Chinese robotic systems from sensitive infrastructure and government facilities.
  • Creating supply-chain standards that prioritize domestic and allied-country manufacturers.
  • Expanding financial support for American robotics startups and advanced manufacturing projects.

The Pentagon is also reportedly exploring financing options aimed at strengthening the domestic robotics industry.

The robotics debate arrives amid a broader escalation in U.S.-China trade tensions.

On the same day as Lutnick’s remarks, China’s Ministry of Commerce expanded export restrictions on ten American companies, including MP Materials and USA Rare Earth, two firms central to U.S. efforts to build an independent supply chain for rare-earth magnets and minerals.

Those materials are essential components in electric motors, industrial robots, military equipment, and advanced manufacturing systems.

The dispute highlights a challenge facing policymakers: while Washington wants more robotics manufacturing at home, China continues to dominate many of the raw materials needed to build those machines.

Business leaders at the roundtable also noted domestic hurdles that go beyond foreign competition. Executives cited permitting delays, financing challenges, and workforce shortages as major obstacles to expanding robotics manufacturing in the United States.

Some analysts believe sweeping restrictions may still be months away. Experts note that the administration remains focused on multiple trade, national-security, and election-year priorities, potentially limiting the speed of new policy actions.

Still, Lutnick’s remarks leave little doubt about the administration’s direction.

After years of battles over semiconductors, artificial intelligence, telecommunications equipment, and rare-earth minerals, robotics is emerging as the next major front in the competition between the world’s two largest economies.

For manufacturers, technology firms, investors, and workers, the message from Washington is increasingly clear: the future of automation is no longer just a business issue—it is becoming a matter of national policy.

JBizNews Desk | New York
© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.

Massachusetts’s highest court has blocked a statewide rent stabilization initiative from the November 2026 ballot on a technicality.

A single religious exemption in the measure violated the state’s constitution, the court ruled.

In a unanimous ruling Tuesday, the Massachusetts Supreme Judicial Court killed a petition that would have capped annual rent increases statewide at either the rate of inflation or 5%, whichever is lower.

The decision lands at a fraught moment in the national housing debate. Tenant advocates have pushed rent stabilization to the forefront of affordability politics in some of the country’s most expensive markets. New York City Mayor Zohran Mamdani won in large part on promises to expand rent stabilization. In Massachusetts, the failed petition would have applied automatically in all 351 cities and towns – one of the most sweeping state-level proposals in the country.

Problems with rent stabilization

Economists and real estate investors warned that the effort would choke off new development of the housing supply needed to bring rents down over time, citing St. Paul, Minnesota, and Montgomery County, Maryland, as examples of rent stabilization deterring apartment development.

“Because it was thrown out on a technicality and not on substance, rent control advocates will surely just regroup and run it back at some point in the near future,” apartment industry economist Jay Parsons wrote on LinkedIn. “That will keep most development capital on ice, and for good reason.”

Providence, in neighboring Rhode Island, still has rent stabilization in the offing. Incumbent Mayor Brett Smiley vetoed a measure the city council passed this year, siding with the supply-side argument. The council couldn’t override the veto. But challengers for Providence city council seats support rent stabilization, keeping the issue alive.

Legislative compromise

Had the Massachusetts question made it to the ballot, state leaders would have lined up to sell voters on opposing it. But rent stabilization isn’t completely off the table in Massachusetts. Gov. Maura Healey, Boston Mayor Michelle Wu and Somerville Mayor Jake Wilson have been pushing for a legislative compromise.

A bill circulating on Beacon Hill would allow individual Massachusetts cities and towns to opt into a limited form of rent stabilization rather than impose a statewide mandate.

“Too many renters live with the fear that one rent increase, one lease renewal, or one building sale could force them out of their home,” Wilson said in a statement last week. “We believe in helping tenants stay in their homes whenever possible – and reasonable rent regulation is one critical tool in the toolkit to help make this happen.”

This post was originally published on here