Billionaire Home Depot cofounder Bernie Marcus’s foundation donates nearly $30 million toward stem cell research for heart attacks
Before Bernie Marcus cofounded the now $343 billion home-improvement chain Home Depot, he dreamed of becoming a doctor.
Marcus, who died in November 2024 at age 95, enrolled in pharmacy school when his family couldn’t afford to send him to medical school. He would often skip classes to sell Amana freezers door-to-door, according to a memoir published by Home Depot, but he still received his degree from Rutgers University.
After college, he worked his way up through various leadership positions at manufacturing companies, and he had a career-defining moment in 1978 when he was fired from a now defunct home-improvement store called Handy Dan. That’s when he decided to reinvent himself and cofounded Home Depot. He was worth an estimated $11 billion when he died.
Marcus’s legacy lives on, and his philanthropic foundation now nods to one of his original passions: medicine.
The Marcus Foundation, established in 1989 by Bernie and his wife, Billi, donated $28.7 million to Dr. Chuck Murry, director of the University of Southern California’s Stem Cell Center, to advance clinical trials of stem-cell-based therapies to regenerate damaged tissue after a heart attack.
“Murry and his team have advanced gene-edited cellular therapy to the point that the time is right to support cells as living medicine in this new form of treatment,” Jonathan Simons, chief science officer of the Marcus Foundation, said in a statement.
The gift is the largest the Marcus Foundation has given to USC and one of the largest it has given to academic medicine. In 2024, the Marcus Foundation donated $25.9 million for stroke research at Emory University School of Medicine and Grady Health System’s Marcus Stroke and Neuroscience Center, and in 2019 gave $20 million to establish a Department of Integrative Medicine and Nutritional Sciences at Jefferson’s Sidney Kimmel Medical College.
The Marcus Foundation’s dedication to medical research
The USC gift fits a decades-long pattern of giving for the Marcus Foundation. Since Bernie and Billi Marcus established the foundation in 1989, it has granted more than $2.7 billion through more than 3,500 grants, spanning medical research, Jewish causes, free enterprise, veterans, and children’s welfare.
Medicine, though, was always a main focus. The foundation calls itself a U.S. leader in biomedical research philanthropy, with an emphasis on five areas: stem cell research and regenerative medicine, earlier cancer detection and treatment, autism diagnosis and treatment, integrative medicine, and cardiovascular disease, including stroke.
The foundation’s first grant, roughly $110,000, went to Emory’s Egleston Children’s Research. Marcus put up initial funding to launch Autism Speaks in 2005—and built the Marcus Stroke and Neuroscience Center at Grady, the Marcus Autism Center at Children’s Healthcare of Atlanta, and the Marcus Institute for Brain Health at the University of Colorado Anschutz Medical Campus, which treats veterans and retired athletes with traumatic brain injuries.
His giving has always been deliberate.
“We decided to narrow the field to those things that I was really, truly interested in,” Marcus told Philanthropy Roundtable in 2012, describing his move away from what he called a “buckshot approach.”
“People may not understand how hard it is to do this,” said Mike Leven, a Marcus Foundation trustee. “People are coming at you all the time, good people with good causes. Unless you discipline yourself, you’re going to over-give and underachieve. Bernie’s better at it than anybody I know.”
This story was originally featured on Fortune.com
Peter Pan takes flight in Tel Aviv with dazzling cast, costumes, and Neverland magic – review
The summer break is coming to an end, and as kids across Israel are prepping to go back to school, there is still one activity that they can do before the academic year starts.
Peter Pan is now being performed at the Tel Aviv Performing Arts Center throughout the rest of the month. I watched the production’s early afternoon show with two friends last Sunday; it featured impressive sets and costumes, and a cast of actors who dazzled on stage with their physicality and choreography.
The audience was mostly parents and children, who responded enthusiastically to the performances and the immersion into Neverland.
This particular adaptation of J. M. Barrie’s classic story initially premiered in 1988, with the titular character having been played by Hanoch Rosen, who now takes the director’s chair in this year’s production.
He co-wrote the show with Uri Paster, who initially directed the 1988 production and also wrote the lyrics, while Ilan Gilboa composed the music, resulting in all original songs being in Hebrew.
Who’s who in Tel Aviv Performing Arts Center’s Peter Pan?
Lee Biran plays the Peter Pan of 2026, while Sasson Gabbay plays Captain Hook, reprising his role from the 1980s production. Other actors include Meshi Kleinstein as Wendy, Linoy Cohen as Tiger Lily, and Ofir Weil as Smee.
Biran is charismatic as the lead, bringing the energy throughout the show. Kleinstein will be remembered most for her angelic voice, most notably in the first song performed in the show, “He Must Come.” Weil’s character, Smee, shines as Hook’s right-hand man, as his mannerisms drew much laughter from the crowd. Cohen, as Tiger Lily, shines in her dancing and stage physicality. Gabbay has amazing stage presence as the musical’s villain, stealing every scene he’s in.
And, of course, this production only further proves the iconic phrase: “There are no small parts, there are only small actors,” as the entire ensemble is given much to do throughout, playing multiple characters, performing numerous choreographed dances, and portraying evil pirates in Hook’s crew or one of the tribespeople under Tiger Lily.
What also caught my eye were the costumes and sets, as well as how the production managed to pull off the crocodile that torments Hook.
This production also uses unique flight technology brought from abroad to Israel, taking Biran’s and Kleinstein’s performances to new heights.
Even if you don’t speak Hebrew, your familiarity with the story, the songs, and the actors’ performances is enough to keep you entertained throughout its runtime. You can buy tickets until August 28 here.
The writer is a studio producer for The Jerusalem Post.
Israeli grandmaster Yahli Sokolovsky wins European Under-20 Chess Championship
Israeli grandmaster Yahli Sokolovsky went unbeaten in Montenegro, scoring seven points from nine rounds and winning his final three games to claim the European title.
Israeli chess celebrated a major achievement as grandmaster Yahli Sokolovsky, a 2006-born member of the Kiryat Ono Chess Club, was crowned the 2026 European Under-20 champion.
Sokolovsky finished atop the standings with seven points from nine possible, recording five wins and four draws without suffering a single defeat throughout the tournament.
The championship was held from Aug. 6-15 in Cetinje, Montenegro, and was organized by the European Chess Union and the Montenegro Chess Federation. The Swiss-system competition featured nine rounds of classical chess.
Sokolovsky entered the championship as the top seed, with an international rating of 2541. While he was considered one of the leading contenders for the title, the road to the championship was challenging, with the Israeli facing grandmasters, international masters and FIDE masters among Europe’s leading young players.
Display of impressive consistency claims title
After opening the tournament with a victory, Sokolovsky continued to display impressive consistency. The decisive stretch came in the final three rounds. In the seventh round, he defeated Anton Zlatkov of North Macedonia. He then beat Armenian grandmaster Emin Ohanyan, who was ranked second in the tournament, with the black pieces in the eighth round.
Sokolovsky entered the ninth and final round knowing that a victory would put him in an excellent position to claim the title. He delivered, defeating Armenian international master Vah Sukiasyan to secure his seventh point, move to the top of the standings, and clinch the European Under-20 championship.
Sokolovsky’s performance throughout the nine rounds translated into a performance rating of 2584, well above the 2541 rating with which he entered the competition.
Israeli Chess Federation CEO Gil Boruchovsky praised Sokolovsky’s achievement, saying, “Yahli is one of the hottest names in the Israeli Chess Federation and will be one to watch in the coming years. This impressive victory demonstrates his tremendous talent and his place among the leading players of the next generation of Israeli chess.” Israeli Chess Federation chairman Dr. Zvika Barkai added, “This is an outstanding achievement and a direct continuation of the successes of Israeli chess on the international stage.”
European title marks significant career milestone
The European title marks another significant milestone in Sokolovsky’s developing career and further establishes him among the leading young chess players in Europe. Beyond the individual accomplishment, his victory represents another proud moment for Israeli chess and another indication of the country’s standing on the international stage.
Arik Kaplan, president and CEO of the Ayelet Association, the umbrella organization for Israel’s non-Olympic sports, called Sokolovsky’s victory “a tremendous and moving achievement for Israeli chess, praising the young grandmaster for displaying “exceptional talent, consistency, determination and the composure of a champion, especially in the decisive moments.”
“Yahli is a great source of pride for all of us and an example for the young generation of chess players in Israel,” Kaplan added. “We congratulate him on his impressive European title and are confident that many more international achievements await him.”
Ofra Yitzhaki talks to ‘Post’ about new albums focusing on monumental musical figures – interview
Ofra Yitzhaki – an internationally acclaimed Israeli pianist, artistic director of the Upper Galilee Chamber Music Festival at Kfar Blum, and a highly regarded faculty member at the Tel Aviv Academy of Music – has long established herself on world stages as a prominent interpreter of modern and avant-garde music.
Above all, the Juilliard graduate has emerged as one of today’s leading champions of Israeli art music.
Over the span of just 18 months, Yitzhaki released three distinct albums, each focusing on a monumental figure in Israeli composition.
Josef Tal and Mordecai Seter, she noted with enthusiasm, are two of the greatest composers Israel has ever produced, and they stand firmly on the global stage.
The third album features the complete piano works of Josef Bardanashvili, widely regarded as one of Israel’s greatest living composers.
Although released in rapid succession, the overarching project took years the develop.
“The initial spark occurred about eight years ago, when I was invited by the Berlin Orchestra to perform Tal’s Piano Concerto No. 1 (1944),” Yitzhaki recalled.
“It gripped me so intensely that I asked myself: How is it possible that I don’t know his piano music? It’s simply outstanding.”
Shortly after, a German record label invited her to record a comprehensive selection of Tal’s piano works – an invitation she eagerly accepted.
Part I: Josef Tal – Uncompromising innovation
Tal belongs to the founding generation of Israel’s classical music. In 1934, at the age of 23, he fled Nazi Germany, leaving his parents behind. In his memoir, he recalled them sitting near the railway station like two statues, waving goodbye as his train departed. His father was later murdered in Auschwitz.
Settling in British Mandate Palestine, Tal established himself as a fierce artistic pioneer. Yet for decades, much of his piano music remained tucked away in archives or preserved only in sporadic historical recordings.
Yitzhaki’s album, Josef Tal: Piano Works 1936-2000, released on the premier German label NEOS, finally brings this repertoire to a global audience under the guidance of a dedicated interpreter.
“Knowing where our local classical scene stands regarding native repertoire, it didn’t surprise me culturally,” Yitzhaki admitted regarding the German release.
In Germany, Tal remains deeply revered, making the recording process feel, as she put it, “like bringing his piano music back to where it truly belonged.”
Tal’s legacy raises compelling questions about identity. Arriving in Mandate Palestine in the 1930s, he faced a web of aesthetic expectations to write music with explicit Jewish or Israeli folk themes.
Coming from an assimilated German-Jewish background, Tal resisted these demands, viewing them as an artificial imposition on his mature compositional technique.
While some scholars view his refusal to incorporate “Mediterraneanism” (Middle Eastern modes and traditional motifs) as a political statement or an expression of Eurocentric cultural commitment, Yitzhaki saw it more straightforwardly: “It is only natural to stay true to who you are.”
Tal did not ignore his surroundings entirely. His First Symphony references “By the Rivers of Babylon,” his Piano Sonata references Yehuda Sharett’s “Rachel,” and he frequently drew on extra-musical themes linked to his Jewish-Israeli identity.
However, he refused to alter his core compositional language – a balance musicologist Prof. Jehoash Hirshberg famously termed “national individualism.”
Tal’s achievements extend far beyond local influences. In 1961, he established the first electronic music studio in Israel, opening new horizons parallel to visionaries like Karlheinz Stockhausen.
His ability to integrate the acoustic idiom of the piano with emerging electronic media remains a landmark. He was also among the first to introduce avant-garde serialism, including his own treatment of Arnold Schoenberg’s 12-tone technique, to Israeli art music.
Moreover, while his earlier works are exceptional, original examples of modernism, in his later works Tal cultivated a unique musical idiom that challenges professional and non-professional musicians alike.
“He possessed immense creative freedom and intellectual curiosity,” explained Yitzhaki. “Even in his late 90s, he remained curious about new compositional techniques. That openness laid the groundwork for later modern and avant-garde Israeli composers.”
Part II: Mordecai Seter – Transcendental introspection
Yitzhaki’s commitment to capturing overlooked repertoire continued with Mordecai Seter: Late Works, released on the Israel Music Institute (IMI) label.
The project originated in 2024, when she curated a concert titled Still Seter: Intimate Sounds to mark 30 years since the composer’s death.
Performing Seter’s early pieces alongside his late, rarely heard compositions, Yitzhaki was struck by how deeply listeners connected to those final, austere pieces.
“Musicians, students, and general listeners were spellbound by his late works,” she said. “I felt compelled to capture this unique universe on record.”
Describing her experience performing this repertoire, Yitzhaki spoke of being absorbed into Seter’s meditative mysticism – a deeply philosophical worldview translated into sound that sits stylistically between the sparse stillness of Morton Feldman and the coloristic intensity of Olivier Messiaen.
Part III: Josef Bardanashvili – A living dialogue
Completing this trilogy is the complete piano works of Josef Bardanashvili, released on the German label TYXArt. Interpreting a living composer presented a stark contrast to recording Tal or Seter.
“With historical composers, it’s just me and my artistic choices,” Yitzhaki explained. “Here, the composer is in the booth, saying, ‘Try that again,’ or ‘I envisioned this differently.’ It becomes a true partnership.”
In an interview regarding this project, Bardanashvili echoed this sentiment: “Ofra takes my ideas and makes them entirely her own.”
The album highlights Bardanashvili’s striking versatility. It ranges from his early First Piano Sonata (1974), written when he was deeply influenced by Arnold Schoenberg, to his Second Piano Sonata (1990), which draws on Neo-Baroque textures inspired by Carl Philipp Emanuel Bach.
The collection also features works written for theater and film – offering a window into his communicative, semi-popular style – alongside his popular Piano Fantasy, which seamlessly weaves synagogue cantillations, Georgian folk songs, and Soviet avant-garde techniques.
Though Bardanashvili draws heavily on liturgical themes, he noted that his settings of Georgian-Jewish melodies reflect a rich tapestry of traditions, spanning Sephardi, Russian Ashkenazi, and Lithuanian Ashkenazi roots brought together in Georgia.
When asked about his primary influences, he pointed to Soviet giants Dmitri Shostakovich, Alfred Schnittke, and Giya Kancheli.
Reflecting on her trilogy, Yitzhaki resisted labeling her project as an explicit political statement.
“My primary drive is simply to record music I believe in deeply, on an artistic level,” she said. “It just so happens that this superb music is Israeli. I feel a need to bridge the songs I grew up listening to with the classical repertoire I play on stage.”
As Bardanashvili aptly put it, Yitzhaki’s dedication is “a gift to everyone – to the audience, to the history of music, and especially to composers.”
Israeli teen’s IOI gold medal revoked after displaying Israeli flag at awards ceremony
A 17-year-old Israeli student had his gold medal win disqualified at the 2026 International Olympiad in Informatics (IOI) in Uzbekistan, after wearing the Israeli flag during the awards ceremony.
Yotam Budnik, from Rehovot, raised the flag during the live-broadcast TV ceremony, despite knowing that Israeli symbols were not allowed.
Since October 7, IOI hosts have forbidden Israeli contestants from competing with national symbols. As a result, the education minister advised against sending a team. This year, however, it was agreed the students would go as independent contestants, without representing Israel specifically.
Team leader Ron Ryvchin told The Jerusalem Post on Tuesday that despite the rules, “Yotam basically felt that this entire situation is quite absurd because the decision to forbid us from showing the flag was accepted without us being able to defend ourselves.
“Even in 2024, we competed online, and then they erased the name of Israel from the ceremonies. They even erased the name of Israel from the map, and they did not mention our online contestants at all.
“So he felt, year after year, Israeli students are erased from their national identity or even erased completely. So he decided that as an act of protest, he wouldn’t follow this rule. He showed the flag on the stage.”
Afterward, the international committee disqualified him because he did not follow the rule.
Yotam refused to hand over medal until teammates received theirs
The president of the IOI went to Yotam to take his medal, but he “refused to hand it over” until his friends received their medals.
“He was really, really, really brave. It was amazing to see a 17-year-old boy talking so well to them. He told them this rule is nonsense and that they just discriminate against people based on their country. And that he thinks that in an organization that should be focused on informatics and on bringing people together from various nations, fostering friendships, there is no place for these politics.”
According to Ryvchin, the organizers told Yotam that he still must follow the rules.
“They said that he made the first mistake when he showed the flag, and now he’s making the second one, that it’s better for him to return [the medal].”
They then removed him from the international IOI website, and he no longer appears in the ranking.
“They changed his score to zero. So, like officially, he’s not an IOI gold medalist.
“But, of course, we all think he earned his medal by himself. He worked very hard; he’s super talented. I think he deserves this medal.”
Ryvchin: ‘Really great’ competition despite incident, Israelis win four medals
Aside from this incident, Ryvchin said the competition “was really great,” and three Israeli students won gold, and one bronze.
“It was the first IOI for everyone. So it really is very impressive because it’s very difficult in the first competition under pressure to perform so well.”
He told the Post he hopes the IOI will realize that the best way to really foster friendship and encourage young students everywhere to study informatics “is to leave the politics out because it’s kind of absurd.”
Mostly, he wanted to congratulate the “amazing Israeli students” again, who didn’t even know in advance they would participate, but trained really hard anyway.
“I’m really proud of them,” he said.
Iranian envoy visits four nationals detained for three months in Kuwaiti prison
Iran’s ambassador to Kuwait met four Iranian nationals who have been detained in Kuwait for three months, state media quoted Iran’s embassy in Kuwait as saying on Tuesday, a few days after an Iranian military official accused Kuwait of withholding information about their fate.
This is a developing story.
Wells Fargo funds rural housing with $1.5M Habitat partnership
Wells Fargo is investing $1.5 million in Habitat for Humanity to scale modular and other innovative home construction approaches in rural and small-town communities across the U.S., the organizations announced Monday at the Iowa State Fair.
The initiative comes as the U.S. faces a severe housing shortage that has pushed home prices and rents beyond the reach of many households, particularly in rural markets where development capital and construction labor are limited. For housing professionals, the investment signals continued momentum behind factory-built and off-site construction as a tool to expand the for-sale housing stock.
According to the announcement, $1 million of the Wells Fargo funding will go to Habitat for Humanity International to advance housing innovation, including modular construction. The remaining $500,000 will support Greater Des Moines Habitat for Humanity’s work to expand affordable homeownership in central Iowa towns and rural communities such as Perry and Indianola.
“Housing affordability is a growing challenge in Iowa and across the country,” Jason Rosenberg, head of public affairs at Wells Fargo, said in the release. “Through our partnership with Habitat for Humanity, we’re advancing growth-focused solutions so communities across the nation, greater Des Moines and rural Iowa can continue to thrive.”
Habitat will use the funding to grow the use of modular homes — an off-site building technique in which major components are constructed in a factory and transported to a permanent foundation. Modular strategies can shorten build timelines, standardize quality and reduce onsite labor needs, which is particularly relevant for smaller markets where both volunteer and contractor availability can be inconsistent.
Habitat emphasized that modular homes must meet or exceed local and state building codes, providing a path to scale without sacrificing safety or durability. By shifting more work offsite, affiliates may be able to increase annual unit production even with flat or declining volunteer hours.
“Along with our traditional home building model, modular homes are an added solution to the housing affordability crisis,” said J. Edwin Hensley, director of U.S. construction at Habitat for Humanity International. “This is a national push. With the support of Wells Fargo, we have the opportunity to prove this can work in rural, suburban and urban communities.”
The grant structure reflects two distinct goals: seeding national learning around alternative construction methods while directly funding new affordable homeownership opportunities in a specific rural-focused region. For lenders, builders and local governments, the effort will provide additional data points on costs, cycle times and consumer acceptance of modular homes in non-urban settings.
Beyond the capital investment, Wells Fargo employees volunteered with Greater Des Moines Habitat for Humanity at the Iowa State Fair to build wheelchair ramps for local homeowners. The ramps support “aging in place” and accessibility for residents with disabilities, a strategy Habitat and other housing nonprofits increasingly view as a complement to new construction in addressing housing stability.
“Homeownership creates stability for families and strengthens communities,” Lance Henning, CEO of Greater Des Moines Habitat for Humanity, said. “For far too many Iowans, homeownership feels out of reach. Everyone should be able to afford to live in the community where they work and where their kids go to school. This investment from Wells Fargo will help support new affordable homeownership opportunities right here in Iowa and all across the country.”
Local and federal officials have increasingly linked housing supply constraints to broader economic development challenges, particularly in rural markets that are trying to retain and attract workers. The announcement highlighted that perspective with comments from Rep. Ashley Hinson, R-Iowa, who represents many of the communities targeted for support.
“This generous investment to Habitat for Humanity will make a real difference for families in rural communities like Indianola and Perry. In smaller towns, every new home means another family can put down roots, build a future, and contribute to the community they love and call home,” Hinson said. “I’ll keep working across the aisle to make the American Dream of home ownership attainable again.”
For the housing industry, the partnership extends more than three decades of collaboration between Wells Fargo and Habitat for Humanity. Since 2015, Wells Fargo & Co. and the Wells Fargo Foundation have donated more than $105 million to Habitat for Humanity International and local affiliates, according to the announcement. That support has funded new home construction, repairs, aging-in-place modifications, neighborhood revitalization and disaster response efforts.
The latest investment underscores how large financial institutions are experimenting with targeted grants to de-risk newer construction methods such as modular, panelized and other off-site approaches. If Habitat affiliates in Iowa and other regions can demonstrate that modular homes can be delivered faster and at lower total development cost while meeting consumer expectations, local governments and private developers may be more likely to include factory-built options in their own pipelines.
For builders, lenders and real estate agents operating in rural markets, the program bears watching as a potential model for blending philanthropy, public support and private financing to increase attainable homeownership at scale.
Anthropic’s $6 Billion Israel Deal Mints Three Billionaires
Anthropic, the American company behind Claude, is in the final stages of buying Israeli AI startup Decart, a deal expected to create at least two new billionaires and bring one of the world’s largest AI developers into Israel for the first time.
The reason the payday is so large comes down to one number: the founders never gave away control. Dean Leitersdorf and his team still hold about 64% of Decart — roughly two-thirds of the company — worth about $4 billion on paper. With Dean’s brother Orian joining last year as chief scientist, each of the three founders stands to collect an estimated $1 billion to $1.5 billion, just below the roughly $2 billion apiece taken home by the founders of Wiz when Google bought it in March.
They could have had more. Nvidia offered $7 billion to $8 billion, more than Anthropic put on the table. Anthropic capped its bid at $6 billion and paid mostly in stock — only a few hundred million in actual cash, with the rest handed over as Anthropic shares. Decart’s shareholders took the smaller number because they expect the paper to be worth more later: Anthropic is preparing what would be the largest public offering in history, at a $2 trillion valuation, with annual revenue projected to reach $100 billion to $120 billion by year end, according to Fortune.
That choice creates a tax puzzle in Israel. The founders’ stake is valued at about NIS 12 billion, which points to roughly NIS 4.2 billion for the state at a 30% capital gains rate plus a 5% surtax. But shares are not cash. “Receiving shares in lieu of cash is subject to tax, even though the founders receive an illiquid asset,” said Racheli Guz-Lavi, head of the tax department at law firm Amit Pollak Matalon, noting that the tax event can be deferred until the shares are actually sold if certain conditions are met. If Anthropic goes public and the stock climbs, Israel eventually collects on a bigger gain; if it falls, the state collects less.Most of the investors are American — Benchmark, Sequoia, Radical Ventures and Zeev Ventures, with Michael Eisenberg’s Aleph fund holding a small Israeli piece. Those backers are expected to split more than $2 billion.
For Anthropic, the point is engineering, not just talent. Decart is expected to run as an R&D center focused on making Anthropic’s models run more efficiently across different chips — Nvidia’s graphics processors, Google’s TPUs and Amazon’s Inferentia. The company has 89 employees in Israel and 17 in the United States, and the acquisition would mark Anthropic’s first operation on Israeli soil after years of covering the market through salespeople based in Ireland. It would become the company’s second research site outside the U.S., alongside a 15,000-square-meter London center staffed by 200 people.Rival OpenAI is expanding on its own track toward a Wall Street listing, hiring senior salespeople away from Amazon’s cloud unit in the U.S. and Europe, but sources close to that company say it has no plans to open in Israel or hire anyone to run operations there.
JBizNews Desk | New York
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STAT+: The White House declares ‘promises made, promises kept’ on lowering drug prices. Nice try
The Trump team can’t help itself.
In recent days, the White House has been crowing about the fact that the latest Consumer Price Index showed prescription drug prices had recorded the “steepest monthly drop in more than 60 years.”
To wit, the Bureau of Labor Statistics reported that drug prices fell 3.1% over the last 12 months ending in July, which was the steepest annual decline since 1963, and fell 0.8% from June to July, marking the third straight monthly drop.
Not surprisingly, President Trump has been given all the credit by his aides. A hearty thanks went to the TrumpRx consumer website, as well as to executive actions he is said to have engineered.
But like so much else in life, nothing is that simple.
Israel to request information on US F-47 sixth-generation fighter jet, may seek to acquire for IAF
Israel intends to request information about Boeing‘s secretive F-47 fighter jet, amid regional diplomatic developments and a global arms race, Walla has learned.
For years, the United States has refused to sell the F-22 Raptor fighter jet to any foreign country, preserving an aircraft that gives it air superiority over other militaries. However, despite the secrecy surrounding the future F-47, senior White House officials have hinted that Japan may be allowed to participate in the project.
Israel’s defense establishment remains uncertain whether those comments were intended as a diplomatic signal amid growing tensions with China or reflected a genuine US willingness to involve allied countries in the program.
Against this backdrop, the Defense Ministry and the IDF intend to request information about the F-47 and its capabilities alongside ongoing procurement efforts for F-35 and F-15 fighter jets, Walla has learned.
Israeli defense officials also plan to conduct an initial assessment of US policy toward the aircraft and determine whether Washington’s approach will differ from the restrictions imposed on the F-22.
Israel to request secret US F-47 fighter jets
The US F-47 project is being developed under an especially heavy veil of secrecy. The sixth-generation aircraft is expected to use a newly developed engine, which is currently facing development challenges, partly because of the unusual requirements set by the US Defense Department compared with previous aircraft.
Among those requirements is the ability to generate thrust without fuel, allowing the aircraft to extend its operational range to at least approximately 2,000 kilometers, a distance comparable to the operational radius needed to reach Iran, Iraq, and the Houthis in Yemen. Other requirements include a sixth-generation engine and the ability to carry significantly more weaponry than the F-35.
The price of each aircraft will depend on the size of the US Defense Department’s eventual order and on Washington’s policy regarding the participation of additional countries in the program.
F-47 to feature remote-operation capabilities, advanced AI, onboard drones
Walla has also learned that the F-47 is expected to feature advanced artificial intelligence capabilities, as well as the ability to operate robots carried inside the aircraft, including UAVs. Western experts have suggested that, in certain configurations, the entire aircraft could potentially be operated remotely.
Another area receiving significant US attention is connectivity with parallel systems in the air, at sea, on land, and in space. Particular emphasis has also been placed on the aircraft’s aerodynamic capabilities and on a stealth profile considered unique worldwide.
US seeks to keep down F-47 operating costs compared to older jets
The US is also seeking to reduce the aircraft’s maintenance costs compared with those of the F-22 and F-35.
The F-47’s first flights are expected to begin in 2028, according to US media reports.
Edinburgh Fringe venue admits to discrimination and canceling Jewish comedian
The Banshee Labyrinth – used as an Edinburgh Fringe Festival venue – has admitted to discriminating against Jewish comedian Philip Simon by canceling his show last year over his identity and views.
The venue issued an apology and accepted responsibility following legal scrutiny regarding the decision to drop Simon from the festival lineup. The cancellation happened after venue staff reviewed Simon’s social media activity concerning the conflict in Gaza.
In a statement given to British comedy website Chortle at the time of the 2025 cancellation, the venue asserted that Simon had expressed views online that “align with the rhetoric and symbology of groups associated with humanitarian violations”.
In response to the cancellation at the time, Simon publicly addressed the decision on social media, expressing shock that a performer could be dropped simply for being Jewish while advocating for peace and the release of hostages.
Maintaining that he was targeted due to his Jewish background and personal views rather than any valid operational reason, Simon subsequently decided to take formal legal action against the venue, filing a claim alleging religious discrimination under the Equalities Act.
Owner concedes liability
The legal breakthrough occurred on Monday during an Edinburgh Sheriff Court hearing, where the venue owner, Morrison Bros Ltd, operating The Banshee Labyrinth, conceded liability on the eve of trial.
David Welsh, representing Simon as his legal counsel, informed the court that “the defender conceded that the defender discriminated against the pursuer, contrary to the provisions of the Equalities Act,” as reported by Chortle and the BBC.
Sheriff Roderick Flinn noted during the proceedings that the venue had acted unreasonably by delaying the concession until August 5.
‘Fighting against performers being canceled for their religion’
Commenting on the outcome in a statement published on Instagram on Monday, Simon stated, “Following today’s ruling in court, I’m pleased Banshee Labyrinth have eventually admitted they discriminated against me and that this draws a line under part of a stressful ordeal that I’ve endured for over a year now.”
Simon added, “For me this has never been about money. It has been about fighting against the idea that a performer can be canceled because of their religion. It is about speaking up about how it is deemed acceptable to treat Jewish comedians and artists in a way that wouldn’t be tolerated if it was any other race or religion.”
Speaking in an interview with LBC News on Monday, Simon elaborated on the ordeal, stating that “this venue looked at my social media and decided my politics didn’t align with theirs,” and noted that “they didn’t look at anyone else’s social media, they just looked at mine because I’m Jewish and they didn’t like what they saw.”
Simon also shared the broader impact on his career, telling LBC that “I feel like I’ve lost my August home,” and explained that he had performed at a welcoming venue for three or four years in a row, but now felt that “there’s now an entire street in Edinburgh I just don’t feel safe walking down.”
UK Green Party members discussed ‘killing zionists’ in leaked WhatsApp messages
Leaked internal communications from a private WhatsApp group used by UK Green Party members featured discussions regarding “killing Zionists” and descriptions of British Jews as a “weapon” for Israel, according to a report published by The Times.
The chat group, named Greens Against Imperialism, was established by Sophus Magill, a Green Party parish councilor in Wootton Bridge on the Isle of Wight. During an online exchange in July, Magill wrote that “Zionism has to go, it’s ultimately an apartheidal, ethnosupremacist ideology [sic].”
When another member of the group asked what that meant in practical terms, Magill replied, “That it needs to go. The only solution is one equal state.” Prompted further by a member of the group who asked if that meant wanting Israel “wiped off the map, in essence,” Magill responded, “Yes, I would like that,” and added later in the conversation, “I don’t think it’s violent to want an illegitimate apartheid state gone from all maps, like Rhodesia.”
Magill also stated in the WhatsApp group, “Obviously I believe Israeli citizens who are not war criminals and who agree to peacefully coexist with Palestinians have a right to live in Palestine, as everyone should have the right to live wherever they want in the world so long as they are not a threat to the safety of others.”
The WhatsApp group, which members and activists used to coordinate party campaigning, conference motions, and foreign policy discussions, also contained remarks targeting British Jews.
‘British Jews are a brilliant weapon for the Israeli state’
In June, another member of the WhatsApp group wrote, “I think a lot of British Jews have been heavily exposed to the propaganda. It’s a common thing for them to go stay in Israel for a while before going to university … I remember a lot of my dad’s students did it. It’s unfortunate, but British Jews are a brilliant weapon for the Israeli state to help with the use of antisemitism as a justification in the UK, one of their strong allies.”
Additional messages captured in the leak included comments from an account using the initials “AT” within the WhatsApp group, which The Times noted had previously been identified as Ashley Tubb in a report by the Jewish Chronicle on opposition to banning Iran’s Islamic Revolutionary Guard Corps.
Tubb had stood for election to the Green Party’s campaigns committee. In June, Tubb described Iran’s Islamic Revolutionary Guard Corps in the WhatsApp group as “by definition part of a national liberation movement,” and wrote that “they liberated themselves from a US puppet regime of the Shah in 1979” and claimed that recent protests against the Iranian regime “were instigated and armed by the Americans and the Zionists.”
Other members of the WhatsApp group discussed the implications of extreme anti-Zionist rhetoric. In August, a member of the WhatsApp group wrote, “I suppose an extreme anti-Zionist could mean that you support killing Zionists. But that is not specifically racist any more than believing in capital punishment for traitors or ‘terrorists’ is. Wrong but not necessarily racist,” and added, “Considering the genocide, it is not surprising some anti-Zionists, particularly those living in, or having relatives in Palestine, are anti Jews, lumping all Jews in with the majority of Israeli Jews as genociders [sic]. Wrong but understandable.”
Logs show local party organizers participating in anti-Zionist rhetoric
The leaked logs showed that individuals holding formal organizational positions within the party also participated. Animah Kosai, the membership officer for Global Majority Greens, an official Green Party special interest group that includes deputy leader Mothin Ali, reached out to the chat members about conference preparations.
Kosai wrote in the WhatsApp group, “I know I’ve asked this before – who wants to join the GMG & Allies review of the motions. Basically it’s for this group too, but given that GMG is a formal special interest group, we are happy to provide cover.”
Kosai also promoted Motion A3, titled “Zionism is Racism,” encouraging members by posting in the WhatsApp group, “Motion A3 Zionism is Racism is open now for co-proposers!” and noted, “As a proposer of two motions, I unfortunately only have 2 to spare – one has gone to Zionism is Racism, and I’ll consider my fourth.”
When approached by The Times reporters for comment regarding the messages, Magill, Tubb, and Kosai did not dispute the exchanges, while a Green Party spokesperson reportedly stated, “We do not comment on internal party forums or discussions on WhatsApp groups that are not official party group channels.”
A spokesperson for Campaign Against Antisemitism said in a statement to The Jerusalem Post: “These messages are not only utterly repugnant, but certain posts to the group may constitute criminal offenses which our lawyers are currently reviewing. This is a matter that should be sufficiently serious to concern the police, especially given the talk of what seems to be a vehicular mass-casualty attack on British Jews.
“The Green Party has glibly declined to comment because the group was not ‘official,’ but that is not good enough, not least because the group was created by one of their Councillors. The Green Party is increasingly rife with this kind of invective and incitement, and those responsible must be expelled.”
A spokesperson for the Board of Deputies of British Jews responded to news of the group messages, in a statement to The Jerusalem Post, saying, “When members of a mainstream political party can reportedly discuss the killing of ‘Zionists’, rationalise hostility towards Jews, and fantasise about Israel’s destruction, the danger is not theoretical. Such rhetoric lowers the threshold for intimidation and violence against Jews in Britain. The Green Party must suspend those involved now, investigate urgently, and expel anyone found to have advocated violence or antisemitic hatred.”
Pentagon Gives 30 Universities Two Weeks to Report Foreign Research Ties
The Pentagon told 30 American universities on Monday to go through their own books, identify every research project, payment and partnership they hold with a list of Chinese, Russian and Iranian institutions the government treats as security risks, and report back by the end of the month. Schools have until Aug. 31 to submit their findings and any fixes — including ending collaborations judged too risky — or lose eligibility for future federal research funding.
That gives the schools roughly two weeks, in the middle of August, to complete work that normally takes compliance offices months.
The reviews cover ties to entities named under Section 1286 of the 2019 defense authorization law, along with organizations linked to rebranded Confucius Institutes. That list names 130 academic and research institutions in China, Russia and Iran that the government says engage in activity making it more likely U.S. taxpayer-funded research gets misappropriated. It runs from civilian technical universities to military and defense academies and laboratories — Bauman Moscow State Technical University, the China Academy of Engineering Physics, the Chinese Academy of Sciences, and Imam Hussein University in Iran among them. The roster was last updated on July 23, when more than 30 Russian institutions were added.
The financial stakes are the point. Federal research dollars underwrite laboratories, graduate students and entire departments at large universities, and the department is treating that money as leverage. Beginning in fiscal 2026, the Pentagon is barred from funding fundamental research involving any partnership with a listed organization — joint projects, shared use of equipment, even work involving an employee of a listed entity.The department did not identify the 30 universities, or say how many of the notices involved China rather than Russia or Iran.
Fox News reported that Harvard and New York University were among the recipients. A House Select Committee report found Harvard researchers had co-authored more than 140 papers with counterparts at a group of Chinese universities, and that the school reported taking in more than $600 million from Chinese sources under federal foreign-gift disclosure rules — more than any other American university.
The Iranian side of the list carries added weight with the war ongoing. Nine Iranian institutions appear on it, including Sharif University of Technology, Malek Ashtar University and the Supreme National Defense University.“The Department of War has zero tolerance for academic partnerships that compromise our national security,” said Emil Michael, under secretary of war for research and engineering.
What the schools actually have to produce is narrow and concrete. Each must audit the flagged collaborations, determine whether sensitive or export-controlled research was exposed, and put mitigation steps in place — up to terminating the relationship. Researchers were warned separately that working with anyone affiliated with a listed entity could hurt their own ability to win federal grants down the road.
For university administrators, the practical question over the next fourteen days is not whether the partnerships were legal when they were signed. It is whether they can document what left the building, and how fast they can shut off what remains.
JBizNews Desk | Washington, D.C.
© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.
STAT+: Real-world psilocybin data suggest need for close monitoring
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Good morning. We’ve got a fair number of data readouts for a summer Tuesday, so let’s get right into it.
Amylyx reports success in a pivotal trial
Amylyx this morning said that, in a pivotal trial, its experimental drug significantly helped patients who experience sudden drops in blood sugar after bariatric surgery.
Broadway Week is back with discounted tickets for 25 shows
With summer about to take its curtain call, New Yorkers can start planning for fall. Tickets for the semi-annual Broadway Week are now on sale, offering 2-for-1 deals on select shows, New York City Tourism + Conventions announced. Running from September 8 through September 20, this year’s event includes 25 shows, from longtime favorites like “The Lion King” and “The Book of Mormon” to newcomers “Schmigadoon!” and “Titaníque.”

In partnership with The Broadway League, the city’s tourism agency first launched Broadway Week in 2011. According to Julie Coker, president and CEO of New York City Tourism + Conventions, the program, which happens just twice a year, has sold more than three million tickets and generated over $222.2 million in revenue for Broadway.
“With 2-for-1 tickets across participating shows and select opportunities to upgrade seats, this twice-yearly program continues to open the doors to some of the world’s most celebrated theater experiences,” Coker said in a statement.

The following shows are participating in NYC Broadway Week Fall 2026:
- “& Juliet”
- “Aladdin”
- “The Book of Mormon”
- “Buena Vista Social Club”
- “Chicago”
- “The Great Gatsby”
- “Hadestown”
- “Harry Potter and the Cursed Child”
- “Just in Time”
- “The Lion King”
- “The Lost Boys”
- “Maybe Happy Ending”
- “MJ the Musical”
- “Oh, Mary!”
- “Operation Mincemeat”
- “The Outsiders”
- “Paranormal Activity”
- “The Rocky Horror Show”
- “Schmigadoon!”
- “School Girls; Or, The African Mean Girls Play”
- “Six”
- “Stranger Things: The First Shadow”
- “Titaníque”
- “Two Strangers (Carry a Cake Across New York)”
- “Wicked”
“NYC Broadway Week is about opening the door for more people to experience the remarkable range of productions on Broadway,” Jason Laks, president of The Broadway League, said.
“We’re proud to continue our partnership with New York City Tourism + Conventions to help audiences discover the excitement of live theatre.”
Tickets are subject to availability, and some blackout dates may apply. On the Broadway Week website, search participating shows by genre, Tony Award winners, last chance, and by musical or play. Use code 241BWSHOW for 2-for-1 seats or upgrade seats for $135 with discount code UPBWSHOW.
The post Broadway Week is back with discounted tickets for 25 shows first appeared on 6sqft.
States accuse Meta of targeting children for Facebook, Instagram addiction: ‘The young ones are the best ones’
Meta faced accusations of targeting children for addition to Facebook and Instagram in federal court on Tuesday.
Deputy California Attorney General Meghan O’Neill launched her case against Meta in a trial that could reshape how Facebook, Instagram and other social media platforms are operated.
O’Neill told the jury that Meta’s business model was all about trying to “hook the users, hold them for as long as they can, harvest their data, and then hide the truth from the public.”
She said children were particularly susceptible to Meta’s algorithms and that Meta was aware of and sought to exploit that fact, pointing to an internal report at Meta titled, “The Young Ones are the Best Ones.”
WE GREW UP BEFORE SCREENS TOOK OVER. OUR KIDS DESERVE THAT CHANCE TOO
California, Colorado, Kentucky and New Jersey are leading a bipartisan group of 29 states suing Meta.
The states argue that Meta’s addictive platforms resulted in such harms as anxiety, depression and even suicide, and misled consumers about the platforms’ safety.
“Meta needed kids, and it needed to reassure the people who cared about those kids that the kids are safe,” O’Neill said.
WHEN IS A MENTAL HEALTH CRISIS TOO SEVERE FOR TELEHEALTH? WARNING SIGNS FAMILIES SHOULDN’T IGNORE
Meta co-founder and CEO Mark Zuckerberg and Instagram chief Adam Mosseri are expected to testify in the weeks-long trial.
Meta faces steep financial penalties depending on the outcome of the trial, with attorneys general stating last week that it could cost the company around $200 billion.
Representatives for Meta have denied wrongdoing and pointed to measures they put in place to protect teens and keep younger children off of their platforms.
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“The AGs offer no proof anyone in their states was misled, claim benign features like having an additional Instagram account somehow harmed their residents, and attempt to penalize Meta for industry-wide challenges like age verification,” A Meta spokesperson said before the trial this week. “Rather than sticking to the facts or the law, the states have instead decided to chase an outlandish payout.”
Reuters contributed to this report.
Traders Put Democrats at 88% to Win the House
Bettors wagering real money on the November midterms now give Democrats roughly seven-in-eight odds of taking control of the House of Representatives — and rate the Senate close to a coin flip.
On Polymarket, the largest prediction market, the question of which party wins the House in 2026 is priced at an 88% chance for Democrats. About $9.4 million has changed hands on that single market. The Senate sits far tighter, with Democrats at 53%.
Prediction markets work differently from polls. Traders buy shares in a yes-or-no outcome priced between zero and 100 cents, and each share pays out a dollar if it proves correct and nothing if it doesn’t. The price is the implied probability. At 88 cents, a correct $100 bet returns about $114 — a thin payoff that tells you how lopsided the crowd has become.
Polls ask people what they think. Markets ask them to put money behind it, which is why traders and corporate planners watch them. They are not infallible. Volume on political markets is small next to real financial markets, prices can be moved by a handful of large bets, and the crowd has been badly wrong before. An 88% reading means the market expects an outcome, not that the outcome is settled.
The starting point is history. All 435 House seats are on the ballot on November 3, along with a third of the Senate. The party holding the White House has lost an average of 26 House seats in midterm elections, and Republicans are defending a narrow majority. That structural pull is doing most of the work in the price.
Several things this year have pushed it higher. Democrats have held a steady single-digit lead on the generic congressional ballot. On August 5, the Democratic Congressional Campaign Committee expanded its target list by 12 districts, a signal of where the party believes it can go on offense. Inside Elections moved several districts toward Democrats, and an April Supreme Court ruling in Louisiana v. Callais forced the state’s legislature to redraw its maps and postpone primaries. The Cook Political Report shifted Texas’s 15th district toward Republicans in July while moving California’s 45th and New York’s 19th the other way.
For businesses, the number that matters is not which party wins but what a split Washington does to the rules they operate under. A Democratic House with a Republican White House means legislation largely stops. Tax changes that require an act of Congress stall. Spending fights get louder, and the odds of shutdown standoffs go up. Regulatory agencies keep writing rules, but they do it under subpoena from committees now run by the other party, which slows decisions and eats executive time.
Tariffs are the exception worth understanding, because that is where most companies are feeling policy right now. Trade measures imposed under presidential authority do not need congressional approval and would not automatically change hands with the House. A new majority can hold hearings, demand documents and attempt legislation, but the tariff schedule itself stays where it is unless the White House moves it or the courts intervene.
Markets have historically been comfortable with gridlock, on the simple logic that a government that cannot pass much also cannot pass anything that upends the tax code or a sector’s economics overnight. The flip side is that anything requiring new legislation — health subsidies set to lapse, expiring tax provisions, infrastructure authorizations — becomes a negotiation between two sides with no incentive to hand the other a win before 2028.
The practical takeaway for anyone budgeting past January: plan on the current statutory framework holding, plan on more noise around funding deadlines, and treat anything that depends on new legislation as unlikely rather than delayed. There is still a full campaign between now and the vote, and 88% is a price, not a result — but it is the price the money is paying today.
JBizNews Desk | New York
© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.
STAT+: Leaders of Mass General, Dana-Farber among hospital execs who got big raises in 2024
Compensation for the chief executives of major health care systems in Massachusetts rose to new heights in 2024, according to newly released records.
Many health care CEOs received big pay raises while their hospital systems grappled with rising expenses after the pandemic, narrow operating margins, and statewide upheaval following the collapse of Steward Health Care. Those increases reflected market rates for health care leaders amid tumultuous times, specialists said.
“Compensation is high in absolute terms, but these are very large and complex organizations to run,” said David E. Williams, president of Health Business Group, a Boston management consulting firm. “They have to attract talent in a national market, which is the main reason salaries go up.”
After 44 years: IDF finds, returns remains of Yehuda Katz, who went missing in First Lebanon War
After 44 years, Israel has located and returned the remains of fallen IDF soldier Yehuda Katz during a covert operation in Lebanon overnight, based on joint Mossad and IDF intelligence collected over several years, the military confirmed on Tuesday.
“In an operation led by the Military Intelligence and a joint community effort with the Mossad, the remains of Yehuda were located and brought to Israel,” the IDF said. “After they were brought to Israel, an identification process was conducted at the Military Rabbinate’s Center for the Identification of Fallen, in cooperation with the Medical Corps and the Israel Police.”
Katz was declared missing during the First Lebanon War, following the Battle of Sultan Yacoub on June 11, 1982. Two other soldiers, Zachary Baumel and Zvi Feldman, were declared missing alongside Katz.
Baumel’s remains were recovered in 2019 with Russia’s help, and Feldman’s remains were recovered in 2025 in a covert Mossad operation.
The IDF explained that the information that led to the operation to locate Katz’s remains started to come in only in recent months. Currently, the IDF cannot share the location of the operation.
More information on the operation and the findings will be released once the IDF has had more time to discuss the findings with the family, who were informed this morning.
IDF sources hinted that the remains found did not include Katz’s complete body, but rather body parts that could be analyzed to confirm Katz’s identity.
Netanyahu: I promised the families that we would bring them home
Prime Minister Benjamin Netanyahu commented on the operation later on Tuesday, saying that he had promised the families of Katz, Baumel, and Feldman that Israel “would never stop working to bring them home.”
“Today, all of us, the entire people of Israel, embrace the Katz family,” said Netanyahu. “His dear parents, Sarah and Yosef, of blessed memory, never stopped working to locate him and bring him home, and sadly, they have already passed away. To you, his siblings Avi and Perachia, we return your beloved Yehuda – to you and to the soil of the Land of Israel that he loved so much.”
Netanyahu concluded his statement by quoting the prophet Jeremiah: “There is hope for your future, declares the Lord, and your children shall return to their own border.”
‘Why wasn’t Yehuda returned?’
Katz’s nephew, Yochai Heiman, said that his family has received information on the findings, but will not draw conclusions until they independently verify the details.
“In our experience, you cannot trust a blind person,” Heiman stated. “After we verify the information, we will know how to respond to the results. It is too early to ask questions about funerals and graves.”
In an interview with KAN Reshet Bet in 2024, Katz’s sister, Parachia, shared that Syrian forces had taken her brother’s tank and tank commander. The commander’s remains, she said, had been buried in a Jewish cemetery in Damascus before eventually being returned to Israel.
“If Yehuda was in the same situation, why didn’t they return him? Why didn’t they announce him? Where did he go? After all, the tank was in their hands,” she had told KAN at the time. “They returned the tank commander. So where did Yehuda go? Who is looking for him anyway?”
“I only see what I can’t see, and that is the videos of prisoners who are released after 40 and 50 years from prisons in Syria,” Parachia said, referring to the hope that her brother was still alive. “And we have been claiming for years that this is possible and not just a dream.”
Closing a long-open circle
Finance Minister Bezalel Smotrich praised the IDF’s efforts in locating Katz’s remains, sending his condolences to his family in a Tuesday morning statement.
“There is no other nation or state in the world that has, for so many years, refused to give up and bring its missing soldiers to eternal rest in the grave of Israel,” Smotrich said. “On behalf of the entire people of Israel, I embrace the Katz family and Yehuda’s fellow soldiers who fought in the Battle of Sultan Yacoub in these moving and emotional moments.”
Former deputy defense minister Major (res.) Rabbi Eli Ben Dahan, who fought alongside Katz in the Battle of Sultan Yacoub, said he felt “chills this morning” upon hearing the announcement of the discovery.
“The circle of the great effort to save the armored battalion that was caught in a Syrian ambush has closed. No one is left behind,” Dahan said. “The eternal people are not afraid of a long road.”
Shas Party leader Arye Deri said on Tuesday that he was “moved by the news of the return of Major General Yehuda Katz’s remains, 44 years later.”
“There is no one like the Jewish people, who once again prove their sacred commitment to their sons,” he said. “They do not abandon a single soldier and do everything to bring [them] to the grave of Israel, even after decades.”
Deri thanked the IDF and those involved in the operation “to bring him [Katz] home.”
“May his memory be blessed,” Deri said.
Liora Goldberg-Stern and Jerusalem Post Staff contributed to this report.
Katz’s plan to shift West Bank settler cases to police not coordinated with IDF, may be blocked
Defense Minister Israel Katz’s announced proposal last week to transfer authority for handling extremist Jewish activists’ problems from the IDF to the police was not coordinated with the relevant authorities and may yet be blocked, The Jerusalem Post has learned.
Katz did not clear the issue with a number of top relevant IDF authorities before making the announcement, to the extent that until a meeting on Monday, many of them did not even understand what he was proposing.
While Katz, in statements last week and on Monday, tried to present the change as a done deal, the Post understands that several issues could block his proposal from happening, limit its impact, or delay it for months.
For years, the legal and operational situation in the West Bank has been messy.
Under international law, no matter what Katz proposes, the IDF Central Command head is the “sovereign” over the West Bank and, at most, could delegate some responsibilities, but would still have ultimate responsibility on behalf of the State of Israel.
The reason is that Israel’s position on the West Bank, unless it some day decides to annex it – something which still appears impossible due to opposition in Israel, and by both US Republicans and Democrats and globally – is that it holds a “belligerent occupation” of the area.
The legal term “belligerent occupation” has nothing to do with the politicized term “occupied” and merely refers to the fact that until the disputed territories’ status is resolved by negotiation between the parties, Israel has certain legal responsibilities and rights as the “temporary” sovereign.
Despite the IDF having primary responsibility for security and maintaining public order, the Shin Bet (Israel Security Agency) and the police have also always played parallel roles in the West Bank.
The Shin Bet has handled aspects of both Palestinian terror and, on a much smaller basis since the phenomenon is much smaller, Jewish terror.
The police have handled arrests of Palestinians and Jews falling below a certain terror threshold and provided the evidentiary basis for indicting each side when relevant.
Cases against Palestinians are handled in the IDF’s West Bank Courts, while cases against Jews are handled by Israel’s civil courts, other than administrative orders.
Theoretically, the IDF’s West Bank Courts could also handle all Jewish cases, but decades ago the Attorney-General’s Office decided it made more sense for them to be handled in civil courts.
Palestinians cannot be brought to trial in civil courts because this would violate the principle that they are “foreign” residents who cannot be treated fairly in Israel’s foreign courts.
Of course, much of the world has criticized whether the IDF’s West Bank Courts treat the Palestinians fairly, but in principle, military courts are mandated for a temporary military belligerent occupation.
Katz’s idea could throw off this balance
All of this balance could be thrown off by Katz’s idea.
If the police were to take over all issues for the IDF operationally, would this lead to Palestinians being tried in civil courts?
Probably not, but there are many other issues.
One is that much of the world is seeing Katz’s move as a dangerous political move to give National Security Minister Itamar Ben-Gvir control over the issue when almost no one globally or in Israel’s security establishments trusts him to properly handle extremist Jews.
In fact, since Ben-Gvir took office in 2023, virtually all IDF and Shin Bet officials have slammed him for blocking or hindering the arrest and prosecution of extremist Jews who have perpetrated violence and vandalism against Palestinians.
There could be diplomatic pressure against the change, including from the US, though such issues usually are viewed as more technical and internal.
All of the above issues are likely to lead the IDF legal division, the attorney-general, and human rights NGOs to oppose some or all of the changes behind the scenes, and also potentially before the High Court of Justice.
Besides these issues, there are practical problems
Besides these issues, there are practical problems.
Many of the security problems in the West Bank in recent years have not been separate Palestinian or Jewish extremist incidents, but have involved both sides.
Even in the most extreme case, Katz would want the IDF to continue to handle Palestinian issues.
How will the IDF arrive at a scene of conflict where Palestinians and Jews are mixed in conflict and only deal with the Palestinians?
How will the police arrive at the same scene and only deal with Jews?
Certainly, it could be possible to increase police resources so more police can arrive at these scenes along with the IDF, but even then, the practical issue remains.
Potentially, the IDF could handle more violent issues initially, and then the police could be on the scene to step in to handle arrests immediately after, which should already be happening.
But given Katz’s attempt to get out of handling Jewish extremism, critics are worried that the defense minister would merely prevent the IDF from stopping Jewish extremists and that the police would also not handle the issue.
More likely than not, the various parties will negotiate some smaller shift in responsibilities in very specific circumstances which will not radically change the situation.
Such negotiations could easily take months, if not longer.
Also, finding and shifting police resources to increase their West Bank presence could take months or longer.
Given the October 27 elections, if another government is elected, Katz’s hopes to change the authorities between the IDF and the police will likely never get off the ground.
However, if the government is reelected, there could be moderate changes in responsibilities after extensive negotiations, increased police resources, and High Court petitions.
In fact, in the distant past, there were legal scholars who thought it made more sense for the police to handle many of the Palestinian issues in the West Bank as well, but since various terror waves, this view is less widely held.
Instead, most view Katz’s move as a way to avoid engaging in conflict with the settler movement.
‘October 7, haredi-lite list’: Eisenkot, Bennett, opposition leaders react to Likud’s primaries
Opposition party leaders on Tuesday seized on the Likud primary results as campaign ammunition, attacking the party over responsibility for October 7, haredi influence, the loss of statesmanship, and the makeup of its electoral slate.
Within hours, the primary results had become campaign material for parties in the bloc opposing Prime Minister Benjamin Netanyahu. Their leaders chose different lines of attack while also signaling which voter groups they hope to draw away from the Likud in the election.
Gadi Eisenkot appealed directly to disappointed Likud voters, Avigdor Liberman attacked haredi influence, Yair Lapid focused on the character of the party, and Yair Golan portrayed the slate as grounds for optimism in his own political camp.
Yashar chairman Gadi Eisenkot issued one of the harshest responses, calling the slate the “October 7 list.”
“No celebratory announcement or ‘victory’ parties will hide” the fact that these are the same people who, he claimed, were part of the leadership that brought Israel to disaster.
Eisenkot also referred to “five members of the failure cabinet” who, he said, were there on the eve of the war, and argued that Likud members “enabled mass draft evasion during wartime.”
אף הודעה חגיגית ומסיבות “ניצחון” לא יסתירו את העובדה שרשימת הליכוד לכנסת ה-26 היא בפועל רשימת השבעה באוקטובר.
אלו הם בדיוק אותם האנשים שחילקו את החברה הישראלית בלי בושה, שהובילו בעיוורון את ישראל לאסון החמור ביותר מקום המדינה, ביניהם גם חמשת חברי קבינט המחדל שהיו שם ערב המלחמה…
— Gadi Eisenkot – גדי איזנקוט (@gadi_eisenkot) August 18, 2026
He added that members of the slate “do not know how to lead Israel to victory,” “cannot unite Israel,” and “are not worthy of continuing to lead the country.”
He concluded by appealing directly to Likud voters: “To Likudniks who have had enough of leadership built on lies and corruption, I want to say: You have a home.”
Lapid targets Likud leadership, Liberman focuses on haredi influence
Opposition leader Yair Lapid chose a broader message about the character of the party. He wrote that in the past, he would congratulate Likud members before primaries and would also call those who lost.
“No more. Who am I supposed to call? Silman? Karhi? I don’t have any friends left there,” he wrote.
Lapid argued that even “the idea of normal relations between political rivals” had disappeared, saying that he even “misses the hypocrisy,” referring to a period when, in his view, political rivals at least made an effort to maintain basic standards of discourse.
He linked the slate to October 7, corruption, the “disgraceful surrender to the haredim,” and an effort “to trample democracy,” concluding: “Likud needs a break from power.”
The party, he said, should move into the opposition “for at least four years.”
Yisrael Beytenu chairman Avigdor Liberman focused on haredi influence and the draft issue.
“It is clearer than ever: Likud = a haredi-lite party! A real Likudnik votes only Liberman,” he wrote.
היום זה ברור יותר מתמיד:
מחל = מפלגה חרדית לייט!
ליכודניק אמיתי מצביע רק ליברמן🇮🇱— אביגדור ליברמן (@AvigdorLiberman) August 18, 2026
“The current Likud is haredi-lite. The people who decided the result were groups of haredim who do not vote Likud in the Knesset election,” he said in a separate interview with 103FM.
Liberman linked this to what he called Netanyahu’s “draft evaders’ alliance” with Arye Deri and Yitzhak Goldknopf, and argued that Netanyahu also shaped the slate to prevent an internal opposition from emerging against him after the election.
Opposition parties compete for disaffected Likud voters
Naftali Bennett and Chili Tropper also targeted the same pool of voters from different angles, focusing on Israelis who serve and on the Likud’s relationship with the haredi parties.
During the day of voting, Bennett argued that the Likud is “dependent on anti-Zionist parties,” and is therefore, in his words, “committed to the draft evaders and abandoning those who serve.”
Tropper told 104.5FM: “I wish the Likud would return to an alliance with those who serve, rather than with the draft evaders.”
He called for the formation of a “Zionist government” that would not depend on either haredi or Arab parties.
Democrats chairman Yair Golan responded sarcastically. He ostensibly congratulated the Likud on an “excellent slate,” adding that from his perspective, it was a slate “that guarantees the Likud’s defeat and the victory of the democratic and liberal camp.”
Golan attacked the composition of the slate, describing it as “a list of convicted criminals, suspects awaiting a decision by the State Attorney’s Office, political operatives, TikTok loudmouths who have done nothing for the citizens of Israel or even for their own voters.”
He concluded: “Good luck in the opposition.”
ברצוני לברך את הליכוד על רשימה מצוינת שנבחרה היום.
רשימה שמבטיחה את תבוסת הליכוד ואת ניצחון המחנה הדמוקרטי והליברלי.
רשימה של עבריינים מורשעים, של חשודים שממתינים להכרעת פרקליטות, של עסקנים, של צעקני טיקטוק שלא עשו דבר למען אזרחי ישראל ואף לא למען הבוחרים שלהם.
בהצלחה…
— Yair Golan – יאיר גולן (@YairGolan1) August 18, 2026
Members of Golan’s party also attacked the primary turnout. The Democrats had held their own primary in July, in which Naama Lazimi secured the second slot on the party list, and Gilad Kariv finished third.
Kariv wrote that “only half of Likud members bothered to vote in the Likud’s corrupt primaries,” arguing that “the free public has turned its back on the party of abandonment and draft evasion.”
“This is what a party looks like when it has lost not only the trust of the broader public, but even that of its own members and registered party members,” he wrote.
Lazimi noted that she herself received more votes in the Democrats’ primary than the total number of voters who participated in the Likud primary.
She ended with a jab: “Go. We’ll take it from here.”
The attacks come as the opposition parties compete for position ahead of the election, with recent election polling showing Eisenkot’s Yashar challenging Likud while the Democrats and Yisrael Beytenu also seek to increase their support.
At least six killed in IDF strike on Gaza City cafe targeting Hamas commanders
Several Hamas terrorists were targeted in an airstrike in northern Gaza City on Tuesday, the IDF announced.
In the statement, the IDF said that it targeted Hamas commanders in the Shati area and that the terrorists were planning to carry out attacks against Israeli troops.
“We targeted four terrorists in Gaza – Hamas commanders who gathered at the cafe. One of them is a company commander, and three others are platoon commanders,” a security official told Army Radio.
Notably, the Hamas-run Gaza Health Ministry told Reuters that six people were killed in the airstrike near the fishing seaport in western Gaza City.
Army Radio reported that six people were killed, with an additional 10 wounded in the strike, which they say occurred at a cafe on the Gaza City coast.
Recent restrictions on strikes in Gaza
Prime Minister Benjamin Netanyahu recently gave in to US pressure by demanding that strikes be restricted in Gaza via a new policy that requires them to receive approval from IDF Chief of Staff Lt.-Col. Eyal Zamir.
This comes with the exception set by the prime minister for immediate threats to IDF soldiers or Gaza border communities, in which case IDF troops are authorized to act to remove the threat.
מדיניות ישראל בעזה, כפי שהובהרה לצה”ל על ידי רה”מ בנימין נתניהו ועל ידי, ברורה: מסירים איומים, מחסלים מחבלים ונפרעים מכל מי שנטל חלק בטבח השביעי באוקטובר.
כך פעל צה”ל היום בחיסול מחבלי החמאס וכך ימשיך לעשות בעוצמה כדי להגן על חיילינו ולהבטיח את השקט ביישובי הדרום – מתוך אזור…
— ישראל כ”ץ Israel Katz (@Israel_katz) August 18, 2026
“Israel’s policy in Gaza, as clarified to the IDF by Prime Minister Benjamin Netanyahu, is clear: Remove threats, eliminate terrorists, and exact retribution from anyone who took part in the October 7 massacre,” said Defense Minister Israel Katz in a post on X/Twitter.
He continued, “This is how the IDF acted today in eliminating Hamas terrorists, and this is how it will continue to act with force to protect our soldiers and ensure quiet in the southern settlements – from the security zone.”
Reuters and Avi Ashkenazi contributed to this report.
Kite bearing Arabic writing found near Gaza border as authorities call incident ‘crossing red line’
A kite bearing Arabic writing was found in Simhoni Forest in the Gaza border area on Tuesday afternoon, according to reports, prompting security personnel to the scene to investigate the incident.
Earlier this month, a kite that entered Israel from the Gaza Strip was found in Moshav Shuva. According to Sdot Negev Regional Council head Tamir Idan, the kite was not carrying an explosive device.
Idan responded sharply to the kite’s entry into the regional council’s territory, describing the incident itself as “crossing a red line.” He warned that similar devices could be used in the future to carry explosives.
“Today, it is a kite without an explosive device. Tomorrow, the same means could carry explosives, and later, the threat could also come by drones or other means,” he said. “We have already learned this lesson at far too heavy a price.”
Idan called on the state to respond forcefully to the incident and said that, as far as the regional council is concerned, there is no room for a policy of containment toward threats originating in the Gaza Strip.
Sdot Negev council head warns against return to past security reality
“We will not accept any reality in which the security of Sdot Negev residents and residents of the Gaza border communities is once again put to the test. We will not accept a trickle of incidents or a gradual return to the security reality we knew in the past,” he said.
In interviews with Walla, residents of Gaza border communities expressed concern over Hamas growing stronger.
“We are concerned about Hamas growing stronger, and we expect the army to act on the matter,” said Ilanit Sweisahf, a resident of Kibbutz Kfar Aza. “Some people still have not returned to Kfar Aza, myself among them, and because of all the recent reports, there is currently concern about returning.”
Gaza border residents voice renewed security concerns
Yael Raz Lahiani, a resident of Nahal Oz who has returned to her home, said that the residents of the south returned to a pre-October 7 reality.
“We have returned to a reality in which things are happening. The residents’ sense of security is declining. On the one hand, there is a reduction in the military presence, and on the other hand, Hamas is growing stronger,” she said.
“It looks as though we are heading in a bad direction. Am I afraid there will be another October 7? Probably not. But could terrorists infiltrate a community in the future? Possibly. Our sense of security has not improved since October 7. I had hoped that after three years, we would feel differently.”
Terrorism-supporting signs, inciting items confiscated from Mea She’arim warehouses
Signs and other items inciting and supporting terrorism were confiscated in Jerusalem’s haredi (ultra-Orthodox) neighborhood of Mea She’arim, the Israel Police announced on Tuesday.
The items were discovered in two separate warehouses during an operation conducted by Jerusalem District Police officers from the Lev HaBira Police Station.
Additional items seized by police included Palestinian flags, a hat with a Hamas-affiliated design, spray paint cans and a paintball rifle.
The Israel Police said the owners of the items have yet to be determined.
The officers transferred the confiscated items to Lev HaBira Police Station’s Investigations Unit for further processing, noting that the investigation remains ongoing.
Inciting materials confiscated from West Bank UAWC offices
Such operations are not uncommon in Israel. In December, security forces confiscated inciting materials at the Ramallah and Hebron offices of the Union of Agricultural Work Committees (UAWC) in the West Bank, the IDF said at the time.
Eight wanted individuals were arrested as part of the operation, along with 14 others who had been summoned for questioning, the military added.
Fraidy Moser contributed to this report.
Treat weapons smuggling for what it is: Terrorism – opinion
Serving for years as a combat officer in the IDF means growing accustomed to the sound of gunfire. It is an inevitability of the profession that many, including myself, chose.
But that familiarity is not something that our children are supposed to have, ever. And yet, this is the reality for thousands upon thousands of children in the Negev. Night after night, they hear the sounds of gunfire from nearby Bedouin communities.
This is one of the end results of the illegal smuggling of hundreds of thousands of weapons into Israel that we have to label as what it is – not a criminal threat but a national security threat, a terror threat.
Such weapons smuggling, rising crime rates, and reckless driving on the Negev’s roads are examples of the total loss of control by the government over Israeli territory. For me, this is not a political issue; it is daily life.
I live on a kibbutz in the Negev. For myself and my neighbors, this embodies the risk of crime, the constant danger on our roads, the sound of gunfire at night, and dear friends who have decided to relocate.
How can this be allowed to happen here?
None of this is inevitable. It is a result of failed policy. When it comes to tangible action plans that are being implemented on the ground, this government simply does not have any. The statistics bear this out: in 2025, there were 46 murders in the South, a 119% increase from the period of the previous government led by Naftali Bennett.
Ask my neighbors under which government they felt safer, and you will receive a clear answer. Under Bennett’s government, significant progress was made in combating crime and restoring sovereignty in the Negev. Having done it before, there is no doubt that with such leadership, a new government can do it again. Doing so begins with making two fundamental decisions.
Arms trafficking as an act of terror
First, acknowledging that weapons smuggling is not a criminal issue but a terror threat, then committing to fighting it as such. Second, implementing a detailed action plan that has been carefully designed with leading regional experts in counterterrorism, law enforcement, and social policy.
Beyond simply bringing the Shin Bet (Israel Security Agency) into the fight – an important first step but not enough on its own – our underlying principle has to be using what is referred to as the Al Capone method, which is an “all of the above” approach leveraging all enforcement mechanisms at our disposal.
This includes financial law enforcement and ending protection rackets, with the goal of choking off funding for criminal syndicates. Then we need to double police presence and impose strict sentences for criminals.
Also required is a crackdown on illegal construction alongside investment in accelerated development within recognized communities. That last piece is just one element of what we need to do to address social gaps in Bedouin communities that ultimately provide a vacuum in which crime thrives.
On that front, we must also bring the education system in Bedouin communities truly in line with Israeli standards and values. Moreover, we must use all the legal and financial tools at our disposal to eradicate polygamy, incentivize Hebrew studies, and provide pre-army preparatory programs for youth.
Finally, we must provide better employment opportunities by opening more industrial zones.
Taken together, the approach the Negev needs and that we are offering is simple: sticks and carrots – carrots for those in Bedouin communities who choose to be a law-abiding part of Israeli society, and an uncompromising stick for those who choose to break the law.
In the last few years, my neighbors and I have found ourselves, like many Israelis, fending for ourselves. But with the right plans and the right team, we can fix this. We have to address this problem with the urgency of meeting what it truly is: a threat to Israel’s security and sovereignty.
Both as a public servant and a resident of the Negev myself, I will measure the next government’s success and hold myself accountable based on simple metrics: Are fewer illegal weapons circulating? Are crime rates down? Are roads safer? And can the children in communities like my own sleep quietly through the night, without the echoes of gunfire?
The writer is the former CEO of Aharai, a reserve IDF officer, and a B’Yachad candidate for the Knesset.
Netanyahu comes out on top in Likud primaries, but voters want more – analysis
The Likud primaries are over, the results are in, and the big winner – according to most political pundits – is Prime Minister Benjamin Netanyahu.
Those he favored prospered – Amir Ohana, Amichai Chikli and Almog Cohen. Those with whom he had clashed floundered – David Bitan, Tali Gotliv and Nir Barkat.
But in compiling a list of winners and losers, it is worth looking beyond the personalities and focusing instead on the trends inside the party. History is one reason not to read too much into a list of individual winners.
Such a list would likely begin with Eli Cohen, who received the most votes after Netanyahu, and Ohana, who came in third. Rounding out the top five, excluding Netanyahu, were Yariv Levin, Miri Regev, and Ofir Katz.
But before crowning them as winners simply because they finished at the top of the list, it is instructive to look back at the last four Likud primaries, going back to 2008.
Of the 15 people who occupied one of the top five slots during that period – some of them more than once – nearly half later left the party, either temporarily or permanently.
The reasons varied. Some clashed with Netanyahu ideologically, while others felt they had nowhere left to advance. Yoav Gallant, Yuli Edelstein, Moshe Kahlon, Benny Begin, and Gilad Erdan all eventually left the party. Silvan Shalom left public life under the cloud of scandal, while Gideon Sa’ar left the Likud because he felt his path to advancement was blocked, only to return later.
The lesson is that today’s winners – meaning those who finished in the top five – are not even guaranteed to be competing in the party’s primaries the next time around.
That being the case, the more revealing question is not which politicians won or lost, but which trends did.
Primaries showed the importance of loyalty to Netanyahu
Tuesday’s primaries showed the importance of loyalty to Netanyahu, with Cohen and Ohana the prime examples. Both men have consistently supported the prime minister while carefully avoiding presenting themselves as immediate alternatives. As a result, they are not seen as a threat.
Unlike previous top finishers such as Erdan, Sa’ar and Edelstein, Cohen and Ohana have never suggested that they intend to challenge Netanyahu, either now or in the immediate future.
Likud voters rewarded them for that. Paradoxically, by showing no eagerness to push Netanyahu aside, they have established themselves as clear front-runners to inherit the party leadership whenever the post-Netanyahu era begins.
Winning a general election requires electoral pragmatism
The results also suggest that the Likud rank and file understands that it is not enough to hold a primary. The party must then win the general election, and that requires candidates who can appeal beyond the die-hard Likud faithful.
Polarizing figures such as Tali Gotliv and May Golan do not fit that bill. Gotliv was relegated to the 20th slot on the list, while Golan – currently a minister – failed to secure a realistic position.
This upends, or at least complicates, the narrative that the party has been completely hijacked by its fringe. The voters appear to have understood the danger of alienating moderate right-wing and swing voters, and chose a slate in which the most prominent firebrands were either demoted or pushed out of realistic positions.
The Likud’s base did not abandon the Right
The strong showing of Cohen, Ohana, and Levin does not mean that the Likud base has moved toward the ideological center. It still wants a right-wing agenda, but it wants that agenda advanced by disciplined, experienced politicians.
Levin is the clearest example. His agenda is no less ideological than that of the party’s loudest firebrands. The difference is in style and method. He represents the determined, methodical pursuit of the Right’s judicial ambitions, rather than the shouting matches associated with Golan and Gotliv.
The base did not abandon the Right. It chose politicians it believes can translate ideology into policy over those who merely shout into microphones.
Voters do not want chaos populism
The voters also showed that they do not want political firebrands who pick undisciplined fights – often with members of their own camp – and rant on social media and in interviews, turning off many voters in the process.
Gotliv’s demotion and Golan’s failure to secure a realistic slot show that the Likud base does have an internal system of checks. The shock value of their rhetoric may generate attention and likes on TikTok, but the voters apparently concluded that the kind of political mayhem they sow is ultimately an electoral liability.
Those who seemed to be independent from Netanyahu paid a price
The results again showed the price paid by anyone who displays too much independence from Netanyahu. Bitan did so in this primary through his repeated criticism of the prime minister, just as in the past Gallant paid a price for independent thinking regarding military policy, and Edelstein over the haredi draft issue.
The primaries placed Bitan in the Likud’s borderline 23rd slot, as the polls are generally giving the party between 21 and 23 seats. Gallant and Edelstein never made it to the primary.
Those elevated to the top positions generally toe the party line – or, more precisely, Netanyahu’s line. There is room for differences on the margins, but little tolerance for dissent on issues important to the party leader.
The message is clear: Independence is acceptable only until it collides with Netanyahu.
Under Netanyahu, rising politicians and potential successors are perceived threats
A high primary finish in the Likud is a double-edged sword. It demonstrates grassroots popularity, media visibility, and support inside the party – precisely the qualities needed by anyone hoping eventually to lead it. But under Netanyahu, those same qualities can turn a rising politician into a perceived threat.
Sa’ar, Erdan and Edelstein all encountered this problem. Their strong positions inside the party made them look like possible successors, but also complicated their ability to advance under Netanyahu.
Sa’ar eventually left after concluding that his path was blocked, only to return after October 7. Erdan was sent to the UN – a prestigious appointment, but one that removed him from the domestic political arena. Edelstein, despite repeatedly finishing near the top of the Likud list, was gradually pushed to the margins.
The trap is obvious: To become a potential successor, a politician must build an independent base of support. But the stronger that base becomes, the more threatening he may appear to the man he hopes one day to succeed.
That helps explain the success of Cohen and Ohana. Both have demonstrated popularity, political ability, and leadership potential without behaving like immediate challengers. They have positioned themselves for the post-Netanyahu era by making clear that they are prepared to wait for it.
The bottom line is that Tuesday’s primary results show a party more disciplined than its critics sometimes suggest. The rank and file pushed down some of the loudest and most polarizing figures, favored candidates with broader electoral appeal, and did so without moving the party toward the ideological center.
At the same time, the primaries strengthened Netanyahu’s control. History suggests that neither Cohen nor Ohana should become too comfortable. If either begins turning his popularity into an independent power base, the same qualities that made them winners in Tuesday’s primaries could quickly make them a threat. Just ask Erdan, Edelstein, and Sa’ar.
In Netanyahu’s Likud, reaching the top of the list is only half the challenge. The other half is remaining there without appearing too eager to reach for the crown.
$15 Billion Pipeline Could Let Iraqi Oil Bypass Hormuz Entirely
Iraq is moving toward a major new oil pipeline across Syria that could eventually carry roughly 2 million barrels a day to the Mediterranean, creating an alternative export route that would bypass the Strait of Hormuz entirely.
The project would cost at least $15 billion and require about four years to build, according to people directly involved in the planning. The proposed system would connect Iraq’s southern and northern oil fields through a central hub at Haditha before continuing west to Syria’s Mediterranean port of Baniyas.
That would give Iraq something it does not have today: a large-scale export route that can send crude directly toward Europe without forcing tankers through the Persian Gulf and Hormuz.
The urgency behind the project is obvious.
Before the latest regional conflict, roughly one-fifth of the world’s oil and liquefied natural gas moved through the Strait of Hormuz. The waterway has since become one of the most serious vulnerabilities in the global energy system, with disruptions forcing producers, governments and traders to rethink how dependent Gulf exports should remain on a single chokepoint.
Iraq already had a pipeline linking Kirkuk with Baniyas, but the old system is considered too damaged and outdated to simply restart at the scale now being discussed.
That means the current plan is effectively a new infrastructure project rather than a routine rehabilitation.
Chevron is among the companies supporting technical and financial feasibility work, together with TI Capital and Qatar-based UCC Holding. The Iraqi government has also approved preliminary agreements covering several alternative pipeline routes, including connections toward both Syria and Turkey.
If built at the proposed scale, the Syrian route would dwarf the old Kirkuk-Baniyas system, which carried about 300,000 barrels a day.
Two million barrels a day would represent a substantial share of Iraq’s export capacity and could materially change the way its crude reaches global markets.
The business implications extend far beyond Iraq.
A functioning Mediterranean outlet could reduce the risk premium attached to Iraqi oil during Hormuz disruptions. It could also create new demand for pipeline construction, pumping stations, storage terminals, port infrastructure, security systems and financing across Iraq and Syria.
For refiners in Europe, the route could shorten and simplify access to Iraqi crude compared with shipments that must first sail out of the Gulf.
But the project is nowhere near completion.
Construction could take four years even after final agreements are reached, and major questions remain around financing, land rights, security and clearing infrastructure along the Syrian route.
That timeline is important because Washington has increasingly promoted pipelines as a way to reduce the strategic importance of Hormuz much sooner.
The engineering reality is considerably slower.
What is changing already, however, is the thinking.
For decades, the Strait of Hormuz was treated as an unavoidable feature of Gulf oil exports.
Now governments and energy companies are spending billions to build around it.
If Iraq ultimately completes a 2-million-barrel-a-day route to the Mediterranean, the consequences would reach well beyond one pipeline.
It would begin changing the physical map of the global oil trade.
JBizNews Desk | Baghdad
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Americans’ Card Debt Nears Record as 1 in 8 Dollars Runs Late
Americans put another $21 billion on their credit cards between April and June, pushing total card balances to $1.26 trillion — within reach of the $1.28 trillion record set late last year, according to the Federal Reserve Bank of New York’s quarterly report on household debt released Aug. 11.
The rest of the household ledger actually shrank. Total debt fell $13 billion to $18.8 trillion, held down by mortgages, which dropped $74 billion to $13.1 trillion, and student loans, which fell $7 billion to $1.65 trillion. Auto loans went the other way and set a record of their own, rising $28 billion to $1.71 trillion. Home equity lines added $13 billion to reach $459 billion.
So the story is not that families are borrowing more overall. It is where the borrowing is happening. Mortgage debt is cheap, fixed and tied to a house. Credit card debt carries the highest interest rate most households will ever pay, and it is the one line that keeps climbing.
The number drawing the most attention is 12.8% — the share of card balances that are more than 90 days past due. That figure has climbed from 7.6% in late 2022, which works out to roughly 1 in 8 dollars owed on cards now sitting three months or more unpaid, up from about 1 in 13 four years ago. It is the worst reading since the years following the 2008 crash.
The Fed’s own researchers, though, urge caution on that figure, and the distinction matters for anyone trying to read the health of the American consumer. The 12.8% measures the pile of debt already stuck. A separate measure tracks how many accounts newly fall behind each quarter — and that one has barely moved in almost two years. In other words, the number of households getting into trouble is not rising; the households already in trouble are staying there longer, so the balance keeps accumulating.
“Delinquency rates across most products have held steady over the past two years,” said Joelle Scally, economic policy advisor at the New York Fed. “Still, new delinquencies for auto loans and credit cards remain at elevated levels, a trend we’ll continue to monitor.”
Lenders are not pulling back. Total credit limits on cards rose $85 billion in the quarter, up 1.1%, meaning banks are extending more room to borrow even as balances rise. Of the roughly 175 million Americans with a credit card, about 60% carry a balance from month to month rather than paying it off — that is roughly 105 million people paying interest on everyday purchases.
Fed researchers describe the result as a K-shaped economy: one group of households riding rising wages and home values, another with almost nothing between one paycheck and the next. For families in the second group, the practical takeaway is straightforward. Card interest is now the most expensive money in the household budget, and the fastest available relief is moving that balance onto a lower-rate personal loan or credit union line before the interest compounds further.
JBizNews Desk | New York
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Colombian Growth Hits 3.5%, a Lift for the New President
Colombia’s economy grew 3.5% in the second quarter compared with the same three months a year earlier, the national statistics agency DANE reported Aug. 18 — a sharp pickup from the 1.9% recorded in that period of 2025, and faster than most banks had penciled in. Against the first quarter, output rose 1.3%, and growth for the first half of the year came in at 2.9%. Banco de la República had projected 3.2% and Bancolombia 3.1%; only Banco de Bogotá called it exactly right at 3.5%.
The number lands eleven days into the presidency of Abelardo De La Espriella, who was sworn in Aug. 7 in Cali for a four-year term after defeating Iván Cepeda by roughly 250,000 votes, about one percentage point.
Here is the part that complicates the celebration: most of the growth was paid for by the government he inherited. The fastest-expanding piece of the economy was public administration, defense, education and health, up 10% on the year, with public administration and defense alone rising 15.1%. Government consumption spending jumped 12.2%. Household spending helped too — final consumption was up 4.4% — but the state did the heavy lifting. De La Espriella campaigned on shrinking that state by as much as 40%, and his finance minister, Miguel Gomez, has said the fiscal deficit is running at 7% to 8% of national output, higher than the outgoing government acknowledged. Cutting spending that hard would remove the engine that just produced the 3.5%.
The farms tell a different story. Agriculture shrank 2.1%, with crop output down 4.4% — bananas, plantains, flowers and cassava leading the decline. Information and communications slipped 0.1%. Exports fell 1.0% while imports climbed 7.5%.
That matters at American checkout counters. Colombia supplies about 20% of the coffee shipped to the United States, second only to Brazil, and its growers provide roughly 60% of the cut flowers sold here, sending nearly 80% of their production to the American market. Since July 24, an additional U.S. duty on Colombian flowers, apparel and manufactured goods has stood at 12.5%, up from 10%, though coffee, bananas, oil and coal remain excluded. Shrinking farm output plus a higher border tax is the arithmetic behind more expensive roses next Valentine’s Day.
The new administration’s answer is to change what drives the economy rather than keep funding it from the treasury. Gomez has said the government will bring a growth-focused tax overhaul, and De La Espriella has pledged austerity alongside a revival of the oil and gas sector. Vice President José Manuel Restrepo, a former finance minister, is leading a push to deepen trade, investment and security ties with Washington after years of friction between Bogotá and the Trump administration.
For now the numbers give the new president room he did not have to earn. The test comes when the spending that produced them starts getting cut.
JBizNews Desk | Bogotá
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See How the Disney-FCC Fight Has Unfolded
Bitcoin Whales End Selling Spree, Adding $2.9 Billion in 60 Days
Bitcoin’s largest investors are buying again, reversing months of heavy selling and quietly absorbing billions of dollars worth of the cryptocurrency even as prices remain well below their previous highs.
Large Bitcoin holders — commonly known as “whales” — have added roughly $2.9 billion worth of Bitcoin over the past 60 days, according to on-chain market data tracking major wallets. The shift marks a notable reversal from earlier this year, when large holders were among the sources of selling pressure weighing on the market.
The change matters because whales control enough Bitcoin to influence the amount of supply available for trading. When those investors sell, large quantities of Bitcoin can hit the market and pressure prices. When they accumulate instead, coins effectively move out of circulation and into longer-term holdings.
The buying is occurring during an unusual period for Bitcoin. The cryptocurrency has spent more than two months trading largely sideways, while trading volume has weakened and many smaller investors have reduced their exposure.
At the same time, institutional demand has begun showing signs of recovery. U.S. spot Bitcoin exchange-traded funds recently recorded their strongest weekly inflows since April, attracting more than $850 million in a single week.
That creates a potentially important change in Bitcoin’s supply-and-demand equation: some of the market’s largest holders are accumulating at the same time that fresh institutional money is returning.
There are still significant sources of selling pressure. Bitcoin miners, corporate holders and some investment funds have sold coins this year, while U.S. Bitcoin ETFs remain in net outflow territory for 2026 despite their recent rebound.
But the end of sustained whale selling removes one major headwind.
For everyday investors, the $2.9 billion accumulation does not guarantee Bitcoin prices will rise. It does, however, suggest that some of the market’s biggest players increasingly view current prices as an opportunity to accumulate rather than an opportunity to exit.
JBizNews Desk | New York
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Trump-Backed Crypto Firm Linked to Platform Selling Restricted Chinese AI
World Liberty Financial, the cryptocurrency venture backed by President Donald Trump and his family, is linked to a Hong Kong-based artificial-intelligence platform that offers access to dozens of Chinese AI models, including systems developed by companies that have faced U.S. national-security restrictions and scrutiny.
The platform, WorldClaw, accepts World Liberty’s cryptocurrency tokens as payment and offers users access to roughly 90 AI models from companies in the United States, China and elsewhere.
A significant portion of those models were developed by Chinese technology companies including Alibaba, Baidu and Z.ai.
That creates an unusual policy contrast.
The Trump administration has been pushing allies and technology companies to reduce dependence on Chinese AI infrastructure, advanced chips and strategic technology supply chains. At the same time, a crypto business tied to the president’s family is connected commercially to a platform giving customers access to Chinese-developed AI systems.
The relationship is not itself illegal.
WorldClaw also provides access to American models, including systems developed by OpenAI and Anthropic, and multi-model platforms increasingly allow customers to switch among competing AI systems depending on cost and performance.
World Liberty has said WorldClaw is an independent company and that offering models from several countries is common in the industry.
The White House has separately said there is no conflict between the president’s official responsibilities and his family’s private business interests.
The business significance goes beyond politics.
AI platforms are increasingly becoming marketplaces rather than single-model products. Instead of committing to one provider, businesses can purchase access to multiple models through a single interface and choose whichever system works best for a particular task.
Cryptocurrency is beginning to intersect with that model by providing an alternative payment infrastructure for global AI services.
That is where World Liberty enters the picture.
Its tokens can be used within the WorldClaw ecosystem, extending the utility of World Liberty’s crypto products beyond trading and financial speculation and into payments for technology services.
But the China connection makes the arrangement more sensitive.
Washington has spent years tightening restrictions around advanced Chinese technology over concerns involving military applications, data security and technological competition.
As those restrictions grow, companies operating across both U.S. and Chinese AI ecosystems may increasingly find themselves caught between commercial opportunity and national-security policy.
WorldClaw illustrates how difficult that separation can become.
Artificial intelligence, cryptocurrency and global payments are increasingly crossing borders faster than governments can draw clean regulatory lines around them.
And when a company connected to the president’s family sits at the intersection of those markets, the commercial relationship is likely to receive considerably more scrutiny than an ordinary technology partnership.
JBizNews Desk | Washington / Hong Kong
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Apple Builds Its Own China-Specific AI Model With Alibaba
Apple is taking a much more direct approach to artificial intelligence in China, developing its own large-language model specifically for the Chinese market with technical support from Alibaba as it prepares to bring Apple Intelligence to one of its most important overseas markets.
The move represents a significant change in strategy.
Apple had previously been expected to rely primarily on Chinese partners to provide the underlying AI models required to operate inside China. Instead, the company has now trained a proprietary model designed specifically for Chinese users while continuing to incorporate technology from local partners including Alibaba.
Alibaba’s Qwen model is also expected to be integrated into Apple Intelligence across iPhones, iPads, Macs and Vision Pro devices sold in mainland China.
The arrangement gives Apple considerably more control over the final AI experience while still complying with China’s requirement that generative-AI services operating in the country meet local regulatory standards.
That regulatory barrier has been one of Apple’s biggest problems in China.
Major U.S.-developed AI systems including ChatGPT are not freely available there, leaving Apple unable simply to replicate the version of Apple Intelligence offered in other countries.
Instead, it has had to build a separate technology stack for China.
China’s cyberspace regulator already registered Apple Intelligence for use in the country in July, clearing one of the most important regulatory hurdles before launch.
Apple’s own China-specific model now gives the company another tool for competing against domestic smartphone makers that have been moving aggressively into AI.
Huawei, Xiaomi and other Chinese manufacturers have increasingly marketed artificial intelligence as a central feature of their newest devices, while Chinese consumers buying iPhones have so far received a more limited AI experience than customers in many other markets.
That puts Apple in an unusual position.
China remains both a major consumer market and a critical part of Apple’s manufacturing and supply chain, but it is also one of the few large markets where the company cannot simply deploy the same AI products it develops at home.
Building a separate model shows how important Apple considers the market.
It also underscores Alibaba’s growing role in the global AI industry.
Alibaba is not merely supplying Apple with access to Qwen. It has reportedly helped Apple train the proprietary model itself, giving the Chinese technology company a significant role inside one of the world’s largest consumer-electronics ecosystems.
Apple is expected to use a combination of its own model and Chinese partner technology rather than handing the entire AI experience to one outside provider.
That hybrid approach could eventually become a template for how Western technology companies operate in markets where governments impose local AI requirements.
For Apple, however, the immediate objective is simpler.
The company needs to close the AI gap between iPhones sold in China and increasingly sophisticated devices from domestic competitors.
The company has already cleared a major regulatory hurdle.
Now it is building the technology specifically for the market rather than waiting for someone else to provide it.
JBizNews Desk | Cupertino, California
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South Carolina Becomes Latest State to Push Back on Media Censorship
New Law Protects Taxpayer Dollars from Funding Politically Biased Media Blacklists
COLUMBIA, SC— The Independent Media Council (IMC) today applauded South Carolina Gov. Henry McMaster and state lawmakers for taking a strong stand against media censorship by including a provision in the 2026-27 budget that prohibits taxpayer-funded advertising from being filtered through politically biased media-monitoring systems. Gov. McMaster signed the budget into law on Monday.
As a result, state agencies cannot contract with firms that use media monitors such as NewsGuard, Ad Fontes Media, and the Global Disinformation Index (GDI) when placing state-funded advertising.
“South Carolina lawmakers deserve credit for recognizing the growing threat media blacklists pose to free speech and a free press,” said Christine Czernejewski, spokesperson for the IMC.
“Taxpayer-funded advertising should not be filtered through ideological gatekeepers masquerading as neutral watchdogs. South Carolina’s action sends a clear message that government should not subsidize private censorship schemes. We applaud Gov. McMaster for signing this provision into law. “
South Carolina joins a growing movement against media blacklists and censorship-by-proxy:
- Florida renewed similar protections through its state budget for a second consecutive year.
- West Virginia enacted comparable safeguards through its First Amendment Preservation Act earlier this year.
- Congress adopted related language in the National Defense Authorization Act (NDAA), restricting the Pentagon from using advertising agencies that employ misinformation-monitoring systems when placing military recruitment ads.
- The Federal Trade Commission’s consent order involving the Omnicom-IPG merger prohibits the combined company from coordinating with third parties to steer advertising away from publishers based on ideological viewpoints.
- The FTC has also secured consent decrees from major global advertising agencies, including WPP, Publicis, and Dentsu, addressing concerns that coordinated “brand safety” and exclusion-list practices may have been used to discriminate against media outlets based on their political or ideological content.
Recent reporting found that NewsGuard continues to assign higher credibility scores to certain Chinese state-controlled media outlets than to several prominent American conservative and independent news organizations.
“When state-sponsored media operating under the authority of the Chinese Communist Party can receive more favorable treatment than legitimate U.S. news organizations, it exposes the fundamental flaws in these blacklisting systems,” Czernejewski added.
South Carolina’s action reflects a growing national movement to ensure taxpayer resources are not used to support censorship of independent and conservative media. As policymakers continue examining the influence of media blacklists on advertising markets, public communications, and artificial intelligence tools, the IMC expects additional states to pursue similar protections.
***
The Independent Media Council (IMC) is a non-profit group of conservative and independent media outlets and aligned organizations that stand for free speech and a free press. Members regularly reach over 75 million Americans. The IMC believes the antidote to misinformation and disinformation is more speech, not censorship and works to protect the speech of all media outlets and content creators.
In Fort Greene, 240 Willoughby combines green space, community, and culture
New Yorkers are used to dealing with trade-offs when it comes to finding an apartment, weighing a prime location against views or amenities against outdoor space. A new rental in Fort Greene aims to make the decision a little easier. Located directly on Fort Greene Park, 240 Willoughby offers easy access to not only one of Brooklyn’s best parks but also 30,000 square feet of amenities and sweeping city views, all while being at the heart of one of the city’s best neighborhoods for community and culture.

This article is part of a paid partnership, which helps support our editorial work. 6sqft maintains editorial control over all content.
Developed by Fetner Properties, 240 Willoughby is a new development with two 32-story towers located across from Fort Greene Park. The 30-acre public green space dates to the Revolutionary War and later redesigned by Frederick Law Olmsted and Calvert Vaux, the duo behind Central Park and Prospect Park. Today, parkgoers enjoy tennis courts, a basketball court, a playground, and weekly programs and activities.


Clad in glass with a gold-colored grid framework, 240 Willoughby has 463 apartments, ranging from studios to two bedrooms. The well-designed residences feature premium finishes, flexible layouts, floor-to-ceiling windows, and custom integrated Bluetooth speaker systems.
Most units even come with a private outdoor terrace or balcony, making indoor-outdoor living possible. Residents of the penthouse homes that take up the top four floors enjoy 360-degree views.



The building offers more than 30,000 square feet of amenities for residents of all ages, from a fitness studio and business lounge to an arcade and video game room and children’s playroom. For pet owners, there’s a dog run and a pet spa.


Other impressive perks include on-site parking and a landscaped roof deck with barbecue grills.
Residents of 240 Willoughby are never far from art and live music, surrounded by New York City institutions like the Brooklyn Academy of Music (BAM), Barclays Center, Brooklyn Paramount, the Museum of Contemporary African Diasporan Arts (MoCADA), and more.
All within a small area are over a dozen subway lines, making exploring the rest of the borough and the city a breeze.
Beyond the cultural offerings, the neighborhood offers a convenient lifestyle, with tons of neighborhood retail and dining options. City Point is home to DeKalb Market food hall, Trader Joe’s, Target, and Alamo Drafthouse, and discount grocery stores Aldi and Lidl opened on Fulton Street in the last year.
Fort Greene is home to some of highly regarded restaurants and cafes, too, including Sailor, Miss Ada, Los Burritos Juarez, and Habana Outpost.
Apartments at 240 Willoughby currently start at $3,476/month for a studio.
See the list of full availabilities and learn more about living at 240 Willoughby here.
The post In Fort Greene, 240 Willoughby combines green space, community, and culture first appeared on 6sqft.
Reed Hastings says he learned why companies aren’t families after laying off one-third of Netflix: ‘You would never lay off two of your kids’
Long before becoming a Hollywood mainstay with a market cap of over $315 billion, Netflix was struggling to stay afloat. After the dot-com bust, the then-DVD rental company was forced to make its first major round of layoffs in 2001, cutting roughly one-third of its workforce.
For Netflix cofounder Reed Hastings, the experience drove home a lesson about how to think about a company: It may be a tight-knit team, but it isn’t a family.
“People respect great teams, and they respect families and how we operate,” Hastings recently told Semafor. “But if you describe yourself as a family at a company, you better not ever do a layoff. You would never lay off two of your kids, right? Then people get very cynical if you say it’s a family but don’t operate that way.”
Netflix soon found a path forward, capitalizing on the rise of DVD players—pivoting to a subscription-based DVD delivery service—and going public in 2002. But Hastings argued that getting too close makes employees feel protected, even when their performance falls short.
“We realized, wow, maybe we should do a one-third layoff every year,” the 65-year-old said. “And of course that’s impractical—but we said, how about if we keep the bar high and really think about us as a championship sports team rather than a family.”
Hastings, who has an estimated net worth of $4.4 billion, served as Netflix’s CEO from 1999 to 2023. He then became chairman but stepped down earlier this year.
Netflix managers use a ‘keeper test’ to identify top talent—and ‘part ways quickly’ with employees they wouldn’t fight to keep
Like most major companies, Netflix has endured rounds of layoffs throughout its history. But Hastings said the goal hasn’t been simply to cut costs or reduce headcount. It’s about making sure the company has the right roster to compete—and making changes when it doesn’t.
“If you say it’s like a championship sports team and we’ve got all these competitors and we want to win the championship, then people understand why the coaches make changes throughout the year to try to do their guess of the best way to win the championship.”
Today, Netflix defines success by performance, not seniority, tenure or loyalty. Managers are also expected to regularly apply what Netflix calls its “keeper test” to their employees.
“We expect leaders to be strong developers of talent,” it says on the Netflix website. “And to ensure they have the right player at every position, we ask them to apply what we call the ‘keeper test’—asking ‘if X wanted to leave, would I fight to keep them?’ Or ‘knowing everything I know today, would I hire X again?’ If the answer is no, we believe it’s fairer to everyone to part ways quickly.”
Netflix pairs high expectations with flexibility. Salaried employees aren’t bound to traditional 9-to-5 work schedules or even a prescribed vacation calendar. Netflix also offers unlimited paid time off and parental leave.
“While time away may be observed differently depending on your location and role, we believe in taking the time you need so you are bringing your best to work,” Netflix’s website says.
From Airbnb to Shopify, CEOs are pushing back on the ‘company as family’ mentality
Hastings is hardly alone in concluding that the family-business metaphor can create problems—particularly when companies have to make difficult decisions about their workforce.
Airbnb CEO Brian Chesky has admitted he learned that lesson during the pandemic. As he laid off roughly 25% of his workforce, he told employees he had a “deep feeling of love for all of you.” Looking back, he said he realized the language blurred an important distinction.
“I wrote that letter fairly quickly,” Chesky said on the ReThinking podcast in 2024. “I didn’t have a lot of time, and so I wrote what I felt, and that’s what I felt, and I was pretty emotional when I was writing it. And it is true that a company’s not a family. In fact, we had to make that pivot.”
“We used to refer to ourselves as a family, and then we did have to fire people, or they’d have to leave the company, and you don’t fire members of your family,” he added.
Shopify CEO Tobi Lütke reached a similar conclusion. In 2021, he warned managers against describing the e-commerce company as a family, arguing that doing so could make it harder to hold employees accountable.
“The very idea is preposterous. You are born into a family. You never choose it, and they can’t un-family you,” he said in a letter published by Business Insider.
Lütke specifically pushed back against employees using the term “Shopifam,” especially among younger employees.
“The dangers of ‘family thinking’ are that it becomes incredibly hard to let poor performers go,” he added. “Shopify is a team, not a family.”
This story was originally featured on Fortune.com
Six Thai workers injured after undetonated mine explodes in northern Israel
Six Thai workers were injured after an undetonated mine exploded on a farm near Metula on Tuesday.
Two workers in their 40s suffered serious injuries, one was moderately hurt, and three sustained light injuries, Magen David Adom said
The seriously and moderately injured workers were airlifted to Ziv Medical Center in Safed, while the other three were transported to the same hospital by ambulance.
Mine was reportedly part of a cluster munition
According to Ziv Medical Center’s spokesperson, one of the seriously injured workers was urgently admitted to the operating room, and the other is undergoing medical assessments.
N12 News reported the ordnance was the head of a cluster munition. The Jerusalem Post has reached out to the IDF for confirmation.
Police have begun investigating the circumstances of the explosion.
German court convicts Ukrainian man over parcel bomb plot linked to Russia
A German court convicted a Ukrainian man on Tuesday over what prosecutors described as a plot linked to Russian intelligence to detonate parcels in Europe designed to cause damage and undermine public confidence in security.
Three Ukrainians were involved in sending two packages with GPS trackers and spare auto parts from Germany to Ukraine using a Ukrainian parcel service in an operation initiated by an unnamed Russian state entity, the Higher Regional Court in the southwestern city of Stuttgart said in a statement.
For the Russian organizers of the plot, these shipments were designed to scope out potential opportunities for future acts of sabotage, the court said.
A 30-year-old was sentenced to one year and three months in prison for acting as an agent for the purposes of sabotage, but will not be jailed as he is considered to have served his sentence in pre-trial detention. The two other defendants were acquitted due to a lack of evidence that they were knowingly involved in a plot to commit such attacks.
The Russian embassy did not immediately respond to a request for comment.
Europe says Russia waging ‘hybrid war’
European governments have accused Moscow of a sustained campaign of sabotage attacks as part of a “hybrid war” against countries that supported Ukraine after Russia’s full-scale invasion in 2022. Russia has repeatedly called such allegations groundless.
The 30-year-old “intentionally participated in scouting potential sabotage targets for a Russian state entity,” the court said.
“At the behest of an acquaintance from Russian-occupied Mariupol, he organized the shipment of GPS trackers that transmitted location data during transit from Germany to Ukraine.”
Mariupol, a Ukrainian port city on the Sea of Azov, was devastated in the early months of the war and fell to Russia in May 2022, though it has since become a target for Ukrainian drone strikes.
“Among other things, the fact that the convicted defendant’s actions were carried out well in advance of the actual execution of sabotage was taken into account when determining the sentence,” court spokesperson Lars Kemner told reporters.
Martin Heising, a lawyer for one of the acquitted defendants, said his client could face negative consequences if he returned to Ukraine after a politically sensitive trial.
European officials: Russia behind series of exploding parcels
“The Federal Prosecutor’s Office has filed charges against my client that were truly on very thin ice, knowing full well that this will likely ruin his future in Ukraine for the rest of his life. That’s the worst part,” he said.
Germany and other European countries have repeatedly pointed the finger at Moscow in other instances.
In a previous case, European security officials suspect Russia was behind a series of exploding parcels that were shipped from Lithuania in 2024 and detonated in Germany, Poland and Britain. Moscow has always denied allegations that it was involved in any such operation.
Earlier this month, in Germany, officials found a drone carrying explosives at Leipzig/Halle Airport. German Interior Minister Alexander Dobrindt called it a hybrid attack but did not assign blame. Russia has dismissed suggestions by German politicians and media that it could be responsible.
Dobrindt returned to this theme on Tuesday as he opened a new drone center in the eastern state of Saxony-Anhalt.
“The aim of these hybrid attacks is to defeat us politically and socially. That is the underlying concept: hybrid threats acting as a driver for the erosion of public trust in the state,” he said.
“What we are witnessing today is the shadow war of the 21st century,” he added.
IDF still uses Chinese-made vehicles at Kirya despite security concerns
The security unit at the IDF’s Kirya headquarters in Tel Aviv still uses Chinese-made electric MG ZS vehicles to patrol inside and around the military base as of mid-August, despite the military’s broader shift away from Chinese vehicles over security concerns.
The vehicles, manufactured by the Shanghai-headquartered and state-owned SAIC Motor Corp., Ltd., were purchased about five years ago and remain in use at the base housing the IDF General Staff, Israel Air Force headquarters, IDF Intelligence Directorate headquarters, and the Defense Ministry.
Their continued use is notable given the measures the IDF took after security concerns arose over Chinese-made vehicles and communications equipment.
IDF officers are prohibited from possessing mobile phones made by Chinese companies, and the military does not purchase Chinese communications equipment. Nevertheless, the IDF leased hundreds of Chery Tiggo 8 vehicles for officers, as Walla revealed, even though the vehicles were equipped with cameras, microphones, and their own cellular communications systems.
It took the IDF time to realize the security implications of the vehicles it had leased. The military eventually disconnected their communications equipment, instructed officers not to discuss classified matters inside the vehicles, and prohibited them from entering especially classified bases or classified areas within other bases.
The IDF and Defense Ministry ultimately decided to stop leasing Chinese vehicles. The Chery fleet remained an isolated case and was replaced by Mitsubishi Outlanders.
IDF issues generic response to Walla’s request for usage of Chinese vehicles in Kirya HQ
The IDF Spokesperson’s Unit declined to directly address the use of Chinese vehicles at the Kirya and instead issued a general response.
“The IDF operates in accordance with binding security regulations and standards in the areas of force building, including in the fields of weapons, vehicles, technology, and digital components. Systems that meet the security requirements and standards may be considered for integration into the IDF, subject to the relevant directives and approval processes. Systems that do not meet the requirements will be required to make the necessary adjustments, and if they do not meet the conditions, they will not be approved for use in the IDF,” the military said.
However, the continued use of Chinese-made MG ZS vehicles at the Kirya stands out, particularly given that the base houses some of Israel’s most sensitive military and defense institutions.
Concerns of Chinese-made technology found on British Royal Navy unmanned vessels – report
The concerns surrounding Chinese-made technology were highlighted again after Chinese-made components installed in security cameras aboard Britain’s Royal Navy’s unmanned vessels transmitted data to an IP address in China, The Telegraph revealed at the beginning of the month.
The incident raised serious concerns among senior defense officials in London over the military supply chain.
The breach was identified by the British Defense Ministry during a routine cybersecurity inspection. The inspection found that cameras installed on K3 Scout autonomous boats, a fleet worth about £12 million and used by British commando and marine units, contained Chinese chips that independently communicated with servers in China.
British company Kraken Technology Group supplied the boats and purchased the cameras from a third-party supplier.
According to reports, the cameras transmitted “heartbeat” signals, technical data confirming that the device is active and connected to the network. Such signals could also reveal the vessel’s location. The military’s main concern was the potential leakage of sensitive information about special forces movements and operational activities.
Britain’s Defence Ministry immediately disconnected the cameras from the internet, but said: “A comprehensive investigation found no evidence that classified information or internal systems were breached or leaked.”
High Court weighs petition against NIS 460m. coalition fund transfers during election recess
The High Court of Justice on Tuesday heard a petition by Hiddush and Democrats MK Naama Lazimi challenging the transfer of roughly NIS 460 million in coalition funds after the Knesset entered its election recess.
The petition, filed against the Knesset, Knesset Finance Committee chairman MK Hanoch Milwidsky, and Knesset Speaker Amir Ohana, was heard by a three-justice panel consisting of Justices David Mintz, Khaled Kabub, and Ruth Ronnen.
The court questioned why the same budget requests included both matters that fell under the definition of “special cases” and matters that did not, and why Ohana had no authority to approve a hearing on the latter.
Dr. Yifat Sollel, who represented the petitioners, told the court that this was “like putting matzah on the Passover table, surrounding it with pitas, and saying the matzah makes the entire table kosher.”
The court proposed releasing only the urgent funds and returning the rest to the Finance Ministry, which would determine which transfers were urgent and which were not.
Toward the end of the hearing, the finance minister, through the State Attorney’s Office, asked to present his position and called on the court not to split the budget requests. He asked the court to decide immediately whether to leave the interim order in place or lift it with respect to all the funds. The court will issue its decision later.
The hearing followed a High Court order temporarily freezing nearly all of the disputed budget transfers on August 5, after questions were raised over the procedure used to convene the Finance Committee during the election recess. Ahead of Tuesday’s hearing, the Knesset asked the court to allow the frozen transfers to proceed.
Petitioners accuse government of unlawful transfers
Sollel, Hiddush’s deputy director and legal adviser, said: “The finance minister’s notice to the court sounds like a statement by a mafioso, and that is how all the budget requests unlawfully approved by the Finance Committee should also be viewed, transferring hundreds of millions of shekels in public funds to two sectors the government wishes to favor.”
Lazimi said: “The finance minister is behaving like a mafioso toward the High Court judges, demanding that important budgets be held hostage together with coalition funds for sectors close to the government, as an election bribe in every sense of the word.
“Smotrich is trying to threaten the court and prevent it from making the most logical decision: The government and the Knesset must justify the urgency of transferring every shekel of public money on the eve of the elections, as required by Knesset procedures. We will not allow the continued erosion of the Knesset’s standing and the transformation of public funds into a private bank for the coalition parties.”
The petition argues that the Knesset Finance Committee was “unlawfully convened on August 4, 2026, after the Knesset had already entered its election recess on July 18, 2026, despite the fact that the Agreements Committee had not consented to that meeting, and while using the coalition’s power in violation of the duty of restraint and moderation imposed on the government and the Knesset during an election period.”
At the August 4 meeting, the Finance Committee approved hundreds of millions of shekels in budget transfers, including funding for haredi institutions, while opposition lawmakers challenged the legality of convening the panel during the recess.
The petitioners claimed that at the allegedly unlawful committee meeting, “large-scale budget transfers were approved, including approximately NIS 460 million in coalition funds and hundreds of millions of additional shekels for political purposes that were not classified as coalition funds, all in violation of the legal framework established for the Knesset recess, in the Knesset Law and in a decision by the Knesset House Committee that established an initial framework allowing for one Finance Committee meeting, intended primarily to complete deliberations that began before the Knesset entered its election recess, which took place on July 29, 2026.”
They further claimed: “Despite demands by the petitioners and others before the committee was unlawfully convened, no legal opinion establishing and validating the legal basis for convening the committee was placed before it. On the day it convened, the committee chairman stated orally that the legal source was a decision by Ohana. If such a decision was issued in writing, it was not placed before the committee or provided to its members.
“The petitioners will argue that the committee chairman decided to convene the Finance Committee without a lawful source of authority permitting it to meet, and that Ohana, insofar as he permitted and/or ordered the committee to convene, exceeded his authority without being presented with a detailed, substantive, and professional factual basis establishing that the issues on the requested meeting’s agenda and the decisions the chairman sought to advance fell within the exception for ‘special cases.’”
Knesset, Finance Ministry reject petitioners’ claims
Milwidsky and Ohana, for their part, argued through Yitzhak Bart of the Knesset Legal Department: “There was no defect in the decision that would justify judicial intervention in an internal parliamentary decision. The committee convened in accordance with the Knesset Rules of Procedure and in a manner consistent with past practice during election periods. All the budget requests were transferred to the Finance Committee by the Finance Ministry after being approved by all relevant government bodies, including legal advisers, and therefore comply with the procedures.”
They further argued that “the Israeli government is not a caretaker government. The elections have not yet taken place, and the government has not resigned.”
The Finance Ministry, represented by the State Attorney’s Office, similarly argued that there was no legal impediment, from the standpoint of government operations, to considering the transfer of the coalition funds, while noting that professional reviews of the matter were still underway.
The dispute comes after the government approved billions of shekels in coalition funds as part of the 2026 state budget, including hundreds of millions of shekels earmarked for haredi institutions.
Kushner has opened the door: Now Israelis and Palestinians must walk through it – opinion
Something potentially historic happened in Egypt this week.
Hamas leaders met directly with Jared Kushner, the US Special Envoy for Peace, and reaffirmed their commitment to disarm and demilitarize Gaza. Kushner reportedly made clear that statements and promises would not be enough: Hamas must begin taking tangible steps to dismantle its weapons and military infrastructure, surrender governing authority to a Palestinian technocratic administration, and accept that it will have no armed role in Gaza’s future.
If implemented, this will not merely constitute progress in a diplomatic process. It could mark the beginning of the end of one of the darkest chapters in the history of Palestinians and Israelis.
For nearly three years, more than two million Palestinians in Gaza have endured death, displacement, hunger, destruction, and living conditions that no human being should experience. Israelis, meanwhile, have lived with the trauma of the massacres in Israel on October 7, 2023, the anguish of the hostage crisis, and the continuing threat of another war.
Demilitarizing Gaza offers both peoples a way out. For Palestinians, it would open the door to reconstruction, functioning government, economic recovery, and the restoration of ordinary life.
For Israelis, it would provide the security assurances necessary to begin withdrawing forces and turning away from permanent war. For the region, it would remove one of the principal sources of instability and create new space for cooperation, normalization, and peace. This is why Kushner’s meeting with Hamas was so important.
Diplomacy requires more than carefully written statements and meetings between people who already agree. It sometimes requires the courage to sit across from those whose actions we reject, speak with absolute clarity, and offer them a choice between continued destruction and a different future.
Kushner demonstrated that courage. His approach combined direct engagement with firm conditions. He reportedly told Hamas that disarmament was not open to negotiation and that Israel’s distrust could be overcome only through actions on the ground.
At the same time, he offered a reciprocal path: If Hamas begins disarming, the United States will work to ensure that Israel takes corresponding steps, including facilitating the deployment of an International Stabilization Force, accelerating humanitarian relief, enabling reconstruction in Rafah, and discussing initial troop withdrawals.
This is serious diplomacy. It recognizes that progress cannot be built on declarations alone, but also that demands must lead to a realistic political horizon.
Kushner is emerging as a Kissinger of the 21st century – not because the two men share the same worldview, but because Kushner understands that transformative diplomacy requires personal engagement, strategic patience, and the willingness to enter rooms others prefer to avoid. The reported outcome of this 90-minute meeting demonstrated both his courage and his considerable diplomatic ability.
I believe Hamas understands the decision now confronting it better than anyone.
Its military project has brought catastrophe to Gaza and has lost the ability to deliver anything resembling a political or national achievement. Attempting to preserve weapons as symbols of resistance at the expense of saving the lives and restoring the future of two million Palestinians would be morally indefensible and politically suicidal. Demilitarization is therefore not only an international demand. It is a Palestinian necessity.
Hamas began as a political and social movement and developed its military wing later. Giving up that military structure could become its rescue boat – allowing it to abandon armed activity and reconstitute itself as a purely political organization operating under one law, one legitimate authority, and one national political system.
This transformation also has direct implications for the Palestinian elections expected at the end of November. If Hamas verifiably disarms, accepts the authority of the future Palestinian government, and meets the legal requirements for participation – particularly recognition of the agreements signed between Israel and the PLO – I would support allowing it to compete in those elections. That should include international acceptance and an Israeli commitment not to obstruct its peaceful political participation.
Looking toward the future
As the head of Masar Jadid (New Path), a newly established Palestinian political party committed to democracy, accountable government, nonviolence, dialogue with Israel, and a politics that improves people’s daily lives, it might appear electorally convenient for me to wish that Hamas were excluded.
But that would be shortsighted. After Hamas disarms and transforms itself into a political party, Palestinians must be allowed to choose freely among all legitimate political alternatives. We need elections conducted on a level playing field – not elections engineered to guarantee a predetermined result.
Palestinians must be given, for the first time in a generation, the opportunity to test every political program at the ballot box: armed confrontation or peaceful influence; ideological slogans or practical government; isolation or engagement with the region and the world. The Palestinian people – not weapons, foreign powers, or unelected factions – must decide the future of Palestinian politics.
The same responsibility will soon confront Israeli voters. If the second phase begins before Israel’s elections on October 27, the next Israeli prime minister and government could take office with Hamas’s demilitarization already underway.
Rather than inheriting the seemingly impossible burden of beginning this process from zero, the new government would have the opportunity to move immediately toward security arrangements, reconstruction, regional cooperation, and a credible political horizon. It would be a fresh start, not only for a new Israeli government, but also for both peoples.
We should nevertheless remain clear-eyed. Hamas’s public statement after the meeting referred to a permanent ceasefire, Israeli withdrawal, humanitarian assistance, and reconstruction, but did not explicitly mention disarmament. The real test will therefore be implementation: weapons decommissioned, military infrastructure dismantled, governing authority transferred, and armed groups prevented from rebuilding.
Israel must then fulfill its corresponding obligations. Reciprocity does not mean moral equivalence. It means creating a process in which each verified step produces the next step, making compliance more rewarding than obstruction. This moment is larger than Hamas, Gaza, or any single diplomatic meeting.
Approximately 14 million Palestinians and Israelis share this land. Their futures cannot be separated, no matter how many walls, checkpoints, rockets, settlements, or political slogans are placed between them.
Kushner may have opened a door to a safer and more hopeful future for all of us. Walking through it will require courage from Palestinian and Israeli leaders – and, very soon, wise choices from Palestinian and Israeli voters.
In October and November, millions of people on both sides will have an opportunity to vote not merely for competing parties, but between two futures: another cycle of fear, bloodshed, and paralysis, or a new political era based on security, dignity, dialogue, and reconstruction.
We must vote for change. Thank you, Jared, for helping bring us to the threshold. Now it is our responsibility – Palestinians and Israelis alike – to cross it.
The writer is a Palestinian political leader from Jerusalem and the founder and head of Masar Jadid (New Path), a new Palestinian party committed to democracy, nonviolence, accountable government, dialogue with Israel, and improving the daily lives of Palestinians. He is a longtime advocate of a negotiated two-state solution and sustained engagement between Palestinians and Israelis.
Pentagon demands audit of 30 universities, investigating Russian, Chinese, Iranian research ties
The US Defense Department formally notified 30 domestic academic institutions, directing them to immediately review their “academic, financial, and research collaborations with foreign entities of concern,” the department announced on Monday.
The “foreign entities of concern” are defined as institutions listed under Section 1286 of the Fiscal Year 2019 National Defense Authorization Act, “as well as organizations associated with the rebranded Confucius Institutes,” the Defense Department said.
The list includes 130 research institutes based in Russia, China, and Iran, including civilian universities.
The 30 US universities must “complete a comprehensive audit of all identified foreign collaborations, assess the exposure of sensitive or export-controlled research, and implement strict mitigation plans, including the termination of problematic partnerships,” the department said. All findings must be submitted to the Defense Department by August 31, it said.
The department did not publicly name the 30 institutions. However, a US official listed the institutions to Fox News.
US universities under review includes Harvard, UC Berkeley, MIT, NYU, official tells FOX News
According to the official, the institutions are: Georgetown University, Massachusetts Institute of Technology, University of California, Berkeley, University of California, San Diego, University of Texas at Austin, Emory University, Harvard University, Oklahoma State University, Penn State University, University of California, Los Angeles, University of Cincinnati, University of Minnesota, University of North Carolina, Chapel Hill, University of South Carolina, University of Southern California, Virginia Polytechnic Institute and State University, Worcester Polytechnic Institute, Bryant University, Cornell University, Drake University, Duke University, Illinois Institute of Technology, Johns Hopkins University, New York University, Northeastern State University, Tahlequah (Oklahoma), Portland State University, Southern Illinois University, Carbondale, Stony Brook University, University of Delaware, and University of Illinois, Urbana-Champaign.
The department is making its efforts alongside “partners in Congress,” including the “House and Senate Armed Services Committees, the House and Senate Appropriations Committees, and the House Select Committee on the Chinese Communist Party,” it noted.
This coordination allows the Defense Department to “continue to build a robust research ecosystem that protects critical discoveries from exploitation,” it added.
“This action is designed to protect American taxpayer-funded research investments from unauthorized technology transfer, intellectual property theft, and adversarial exploitation,” the department said.
“The Department of War has zero tolerance for academic partnerships that compromise our national security,” Undersecretary of War for Research and Engineering, Emil Michael, said.
“Institutions that receive funding from American taxpayers must uphold the highest standards of research security, and these mandated audits will ensure accountability across the board,” Michael added.
“Universities are critical partners in executing a wide range of Department of War research programs, and the Department must therefore ensure that our research investments are well protected from foreign exploitation,” Assistant Secretary of War for Science and Technology, Dr. Joseph Jewell, said.
Since the start of fiscal year 2026, the Pentagon cannot fund “fundamental research” with any organization on the list. Under the 2026 National Defense Authorization Act, the Trump administration downgraded China to the US’s second-ranked threat.
However, this recent clampdown comes amid ongoing intensity in the Pentagon’s scrutiny of how China can use American research and technology to improve its military capabilities.
This includes a review of how China’s military researchers used outputs from US artificial intelligence models to train domestic systems, published by Reuters in June.
US repeatedly investigating Harvard for ties to Chinese research, academics
Additionally, an investigation into Harvard University, which is one of the institutions named by the US official to FOX News, stated that Harvard failed to safeguard research collaborations with Chinese institutions, according to FOX.
The Ivy League school also allegedly received over $600m. from China under the federal Section 117 foreign-gift disclosure system, FOX reported. This would constitute more than any other US university, according to an Education Department dashboard cited in a report from the House Select Committee on the Chinese Communist Party.
Further, Harvard-affiliated researchers allegedly co-wrote work with academics from China’s National University of Defense Technology, Beihang University, and Nanjing University of Science and Technology, as well as other Chinese institutions that are tied to the Chinese military, according to an investigation led by the Republican Party.
The investigation, reported by the South China Morning Post, a Hong Kong-based English-language outlet whose website is blocked in mainland China, cited the investigation, adding that the Republican Party’s findings also accused Harvard of lacking the centralized infrastructure needed to identify and vet foreign research partnerships.
Is This Market Overbought and Due for a Correction?
Earnings remain strong, but perhaps the stock market has become a bit overbought in the near term, so don’t be surprised if it backs and fills a bit. We still have many great stocks announcing earnings and revenues, like last Tuesday’s report from Super Micro Computer (SMCI), whose latest quarterly revenue surged 96.5% to $11.1 billion compared with $5.7 billion in the same quarter in 2025. The analyst community expected revenues of $11.2 billion and operating earnings of $1.59 per share, so Super Micro Computer posted a slight revenue miss and a positive (7%) earnings surprise. Looking forward, the company raised its quarterly revenue guidance to a range of $14.5 billion to $15.5 billion, which is substantially higher than analysts’ consensus estimate of $11.9 billion….
Home Depot customers stick to smaller projects as housing costs stay high
Home Depot customers are still spending on their homes, with smaller projects supporting demand as Americans contend with elevated mortgage rates and high home prices.
The home improvement retailer said Tuesday that second-quarter sales rose 5.7% from a year ago to $47.9 billion, while comparable sales increased 1.7%. Comparable sales in the U.S. climbed 1.3%. The results came as consumers continued to favor smaller-scale home improvement work over larger projects.
“Our second quarter results exceeded our expectations. We saw broad-based demand across the business as customers continued to engage in smaller projects,” Home Depot Chief Financial Officer Richard McPhail said.
Shoppers also spent more per transaction. Home Depot’s average ticket rose 2.8% from a year earlier to $92.50, while comparable customer transactions declined 1%.
IS MIAMI REALLY COSTLIER THAN NEW YORK CITY? WHY TOP DEVELOPERS SAY THE MATH STILL FAVORS FLORIDA
The spending pattern comes as the housing market remains constrained by affordability pressures, potentially limiting demand for larger renovations that are more likely to require financing.
Existing-home sales fell 1.7% in July from the previous month to a seasonally adjusted annual rate of 4.06 million, according to the National Association of Realtors. Meanwhile, the median existing-home price rose 2% from a year earlier to $434,100.
Borrowing costs also remain elevated. The average rate on a 30-year fixed mortgage was 6.67% as of Aug. 13, according to Freddie Mac, up from 6.58% a year earlier.
High borrowing costs and home prices can raise the hurdle for home purchases and larger renovation projects, even as homeowners continue spending on smaller projects around the house.
Home Depot reported second-quarter net earnings of $4.8 billion, or $4.79 per diluted share. Adjusted earnings were $4.92 per share.
CLICK HERE TO GET FOX BUSINESS ON THE GO
Despite the uneven housing environment, the Atlanta-based retailer reaffirmed its fiscal 2026 outlook. Home Depot continues to expect total sales growth of approximately 2.5% to 4.5% and comparable sales growth ranging from flat to 2% for the year. The sales guidance is consistent with the outlook Home Depot issued earlier in fiscal 2026.
New York Republican congressman rips Hochul policies for sending businesses ‘don’t come here’ message
New York’s business climate is back in the spotlight after Gov. Kathy Hochul’s pause on new hyperscale data centers added to a broader debate over whether the state’s energy and economic policies are pushing investment elsewhere.
Rep. Mike Lawler, R-N.Y., joined FOX Business’ Cheryl Casone on “Mornings with Maria” to discuss New York’s energy policies, business climate and continued taxpayer out-migration.
Hochul announced a statewide moratorium of up to one year on July 14 on new hyperscale data centers while New York develops a regulatory framework intended to protect utility ratepayers and address the facilities’ energy and infrastructure demands. The pause applies to state environmental permits for new hyperscale data centers.
Lawler argued the move sends the wrong message to companies considering investing in New York.
“What she is saying is, don’t come here. Go do your business elsewhere, which is why New York State leads the nation in out-migration,” Lawler said. “It’s why it is a terrible place to do business and why people are expanding in Florida and Texas and Tennessee and North Carolina and South Carolina and elsewhere. We have the highest tax burden and the worst business climate.”
TRUMP WARNS NEW HOCHUL, MAMDANI PIED-À-TERRE TAX COULD ACCELERATE NYC WEALTH EXODUS
New York has experienced net out-migration among part-year resident tax filers every year since 2015, according to state Comptroller Thomas DiNapoli’s office. In 2024, 134,913 part-year resident filers left the state while 121,251 moved in, resulting in a net loss of 13,662 filers. The pace, however, slowed considerably from the pandemic-era surge.
Lawler also tied the state’s business challenges to its energy policies, pointing to nuclear plant closures, restrictions on natural gas and pipeline projects and electrification requirements.
“If you want to address these problems, you need to have a coherent economic and energy policy,” Lawler said. “And that is fundamental if New York is going to prosper moving forward.”
Amtrak completes first phase of East River tunnel project amid LIRR disruptions
A 15-month rehabilitation of one of two East River tunnels is complete. Amtrak on Monday announced the completion of phase one of the project, which began last year to repair two of the four tunnels damaged during Hurricane Sandy in 2012 that carry trains in and out of Penn Station and are also used by the LIRR and NJ Transit. The agency shut down one tunnel at a time despite MTA calls for a rush-hour service approach, which officials said curtailed LIRR service by forcing too many trains to share the remaining tunnels.


Owned by Amtrak, the four tunnels first opened in 1910. Among the busiest passenger rail tunnels in the Western Hemisphere, they carry 450 daily Amtrak, LIRR, and NJ Transit trains. Two of the tunnels required significant repairs after floodwaters entered the passageways during Hurricane Sandy, according to Amtrak.
During the last year, work crews demolished, removed, and replaced much of the deteriorated infrastructure and installed new bench walls designed to enhance safety, maintenance access, and performance. More than 24,000 feet of rail, 8,000 tons of ballast, 8,000 wooden rail ties, and 20,000 cubic yards of bench wall concrete were removed and replaced.
The new Line 2 tunnel features brighter lighting to improve visibility for train operators, as well as a larger drainage system to more efficiently remove water.


When the project was first announced, the MTA suggested Amtrak implement a “repair in place” approach, scheduling work for nights and weekends while maintaining service during rush hours to minimize commute disruptions.
However, the agency opted to completely shut down one tunnel at a time, forcing the three rail agencies to share the remaining three tunnels. MTA officials’ concerns were realized in May, when a track fire temporarily shut down two of the remaining tunnels, leaving the three rail agencies to share a single tunnel.
A month earlier, an LIRR train traveling through one of the tunnels was disabled after hitting debris, further worsening delays as workers inspected the tracks, according to Gothamist.
During Monday’s press conference at Penn Station, MTA Chair and CEO Janno Lieber called the project an “important milestone” while criticizing Amtrak for what he said was its impact on LIRR riders.
“This project forced the Long Island Rail Road to reduce its peak hour service into Penn by 20 percent,” Lieber said. “That’s a lot of trains, and it meant customers experienced a lot more crowding into Penn.”
“Given that impact and the risk to the customers of things going wrong in three remaining operational tunnels, we did insist that Amtrak take additional precautions,” he added.
Amtrak said the tunnel reconstruction could not have proceeded without fully suspending service. Earlier this year, Amtrak Vice President of Infrastructure Project Delivery Warren LeBeau told Gothamist that the MTA’s suggested approach would have “taken years to complete,” with “significantly more impact to riders.”
The agency also said it is “committed to minimizing passenger impacts,” adding that investments in infrastructure hardening, combined with mitigation measures, helped limit service delays during the outage.
“This milestone reflects the progress Amtrak is making to rebuild critical infrastructure while maintaining service for the millions of customers who rely on the Northeast Corridor every year,” Amtrak Interim President Byl Herrmann said.
“Reopening Line 2 of the East River Tunnel restores a vital transportation link and positions it to serve rail passengers for another 100 years,” he added.
Phase two of the $1.6 billion project, which will shut down the second tunnel, Line 1, will begin this fall and is expected to be completed by the end of 2027. Amtrak officials said the project will remain within budget.
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The post Amtrak completes first phase of East River tunnel project amid LIRR disruptions first appeared on 6sqft.
Trump declares Strait of Hormuz as ‘new US territory,’ day after MoU deadline expires
US President Donald Trump announced on Tuesday in a Truth Social post that he was declaring the Strait of Hormuz a new US territory.
Later on Tuesday, Trump said that there are “no talks or conversations going on, or scheduled, with the Islamic Republic of Iran.”
“The Naval Blockade remains in full force and effect. The Hormuz Strait is open and operating. All water mines have been removed or detonated,” Trump wrote in a Truth Social post.
The announcement came after reporters asked Trump in the Oval Office on Monday whether he intended to make such a declaration. “I think it’s an excellent idea. We control it through the blockade, and I like the idea of declaring it our territory,” he replied.
Trump also pointed to what he described as the effectiveness of the US military’s naval blockade. “We’re taking out millions of barrels of oil a week. If you look at the numbers we’re getting, the strait is open, oil prices are going down, and they’ll continue to go down, unless we decide to do something much more drastic than what we’re doing now.”
Addressing the possibility of reaching an agreement with Iran, Trump said that “Tehran wants to make a deal, but they’re not going to make the kind of deal that I think is necessary.”
Trump: Iran cannot have nuclear weapon
He added, “They cannot be allowed to have a nuclear weapon. And right now, after what we did previously with the B-2 bombers, it will take them a long time to build one.”
When asked whether he was working to extend the Memorandum of Understanding (MoU), Trump declined to answer and shook his head no.
Qatari Foreign Ministry spokesperson Dr. Majed al Ansari said on Tuesday that mediators were waiting for Oman and Iran to reach a bilateral agreement on Hormuz before returning to broader talks between the US and Iran.
An agreement on the Strait of Hormuz would make resuming the talks “much easier,” he added.
2 Penn State frats were main suppliers in ‘upper level trafficking’ cocaine ring, authorities say
Thirteen former or current Penn State University students were criminally charged Monday on allegations they participated in a cocaine-trafficking ring that involved two fraternities, authorities said.
Two of them, who were the main suppliers, made routine trips to Philadelphia and New York to get large amounts of cocaine, according to the Pennsylvania Attorney General’s Office. The cocaine was then packaged mainly at the Sigma Chi and Delta Upsilon fraternity houses off-campus and distributed primarily to Penn State students, the office said.
Part of the operation included indoctrinating some pledges who were joining the fraternities by having them cut and bag the cocaine, Pennsylvania Attorney General Dave Sunday said Monday at a news conference.
“This is very serious criminal conduct. There was nothing junior or childlike about this type of conduct,” Pennsylvania Attorney General Dave Sunday said Monday at a news conference. “This was an upper level trafficking organization for this region in Pennsylvania.”
A total of 14 defendants — 13 of whom were Penn State University students at or around the time of the alleged crimes in 2023 and 2024 — were charged Monday. At least four of the defendants are current students, according to the attorney general’s office.
Four defendants face charges of felony corrupt organizations, conspiracy and other offenses, while a fifth is charged with felony conspiracy and other crimes. Eight other student-aged defendants are charged with misdemeanor counts, like possession. One defendant, who is the father of a student, is accused of tampering with evidence and hindering the investigation.
Penn State University said in a news release that the university is placing Delta Upsilon on interim suspension while the college investigates the incident.
Sigma Chi is not recognized and operates outside of Penn State’s oversight, according to the university.
Delta Upsilon Executive Director Justin Kirk said in a statement that the international fraternity was aware of the allegations and that those involved who had ties to Delta Upsilon were expelled or suspended if they did not resign.
“We will continue to work closely with the university on any investigative efforts,” Kirk added.
The Sigma Chi headquarters in Evanston, Illinois, did not immediately respond to a request for comment.
The majority of defendants facing felony charges were arraigned Monday morning, Sunday said at the news conference.
This story was originally featured on Fortune.com
Ben-Gvir unveils hanging facility, viewing booths for terrorists in Israeli prison
An execution facility for the hanging of convicted terrorists is being built within the already-constructed death row prisoner wing in central Israel, National Security Minister Itamar Ben-Gvir‘s office announced on Tuesday.
“I promised to worsen the conditions of terrorists in prisons – we kept it,” said Ben-Gvir. “I promised to pass the Death Penalty for Terrorists Law – we did. And now the death row and hanging facility are also starting to take shape.”
According to the announcement, the facility will include viewing booths for terror victims and their families to witness the hangings, “as is customary in many countries,” with visitors’ permits available for members of bereaved families.
“We are making history,” Ben-Gvir emphasized. “Our terrorists deserve only one thing – death by hanging.”
In June, Ben-Gvir appointed six bereaved family members from the Choosing Life Forum as official inspectors under the Death Penalty for Terrorists Law, which was passed by the Knesset plenum in March, and later added to the West Bank’s security regulations by IDF Central Command chief Maj.-Gen. Avi Bluth in May.
Ben-Gvir said the inspectors will be central to overseeing the conditions of those terrorists given death sentences and will be granted supervisory powers regarding the law’s implementation.
“No one is more deserving than families who have paid the heaviest price in the fight against terrorism to be part of the oversight mechanism for implementing the law, Ben-Gvir said. “This appointment reflects recognition of the pain of terror victims and their right to be partners in the struggle for justice and deterrence.”
Israeli-Arab lawmakers challenge terrorist death penalty law
Earlier in June, several Israeli-Arab lawmakers sought to join a petition against the death penalty law, which was filed with the High Court of Justice in April.
The petition claims the new law is unconstitutional and asks the court the strike it down on the grounds that it violates the rights to life, dignity, equality, and due process.
It further claims that the law discriminates against Palestinians, noting its application in West Bank military courts.
Shir Perets, Sara Ben-Nun, Keshet Neev, and Sam Halpern contributed to this report.
Female migrants in Spain’s Ceuta face constant threat of sexual violence
Some women who entered Spain’s North African enclave of Ceuta on July 30 as part of a mass migrant crossing say they are experiencing hardships as they wait to be registered, compounded by the threat and fear of sexual harassment.
More than a dozen women have set up camp on a wooded roadside running up to the barbed wire fencing that surrounds the government-run migrant reception center, near the urban beach of El Trampolin. The facility is sheltering about 700 people, 200 more than capacity, according to local authorities.
Camped outside, the women are sleeping in the open air along with hundreds of other Moroccan, sub-Saharan and South Asian migrants.
Reuters spoke to three women there, who said that some men, also staying in the vicinity, are harassing them.
Authorities say that between 5,000 and 8,000 people remain in the enclave, more than two weeks after 72,000 people crossed from Morocco in a deadly border surge.
Most migrants were young men, but women, children crossed too
Most of them were young men, and many have returned to Morocco, but a significant number of women and children also made the crossing. Police and social services say they are scrambling to expand limited reception facilities in Ceuta, and as of Tuesday, 2,168 children have been registered, along with 500 adult asylum applications as of last week.
Wafae Atid, a soft-spoken 28-year-old from the northern Moroccan city of Taza, told Reuters that as she waits for the Spanish authorities to look at her case, she and more than a dozen other women had set up a makeshift camp with cardboard boxes, inflatable mattresses and blankets as close as possible to a police van stationed at the center’s entrance for safety.
“It’s really bad … A lot of guys are trying to attack the girls every night, sometimes just when you go to the toilet. They follow you,” Atid said.
“It’s different nationalities, Africans, Arabs.”
The SUP, Spain’s largest police union, said 15 sexual assaults of varying degrees of severity had been reported in Ceuta since July 30, the significant majority of whose victims were underage. In a statement to Reuters, it said the majority of alleged assaults occurred on the beach and in wooded zones where migrants were concentrated. It suggested that many crimes would be difficult to prosecute because of the “generic” information provided by victims.
Women who reported assaults had been attended to by police, judicial and health authorities, SUP added, and they were now being housed in a new center for sexual assault victims provided by local social services. It called for the expansion of Ceuta police’s women and families unit and more civilian safety patrols of the makeshift camps.
Spain’s Interior Ministry and police declined to confirm the figure or give further details.
Sexual assault cases
In a statement last week, Ceuta’s court authorities confirmed they had processed three cases of sexual assault of migrant women allegedly committed by Moroccan migrants who arrived in the city during the mass influx.
Two of the cases involved victims who were minors: one who was allegedly sexually assaulted by penetration and forced to sell drugs, and another who was indecently touched. In both cases, the accused men have been jailed on remand, while in a third case, an adult woman alleged that she was indecently assaulted, and the alleged assailant’s deportation was ordered by the judge.
The deportation of another man who broke into a private home and climbed into the bed of a local woman in his underpants was also ordered on a charge of breaking and entering.
Spanish Interior Ministry figures for 2024, the latest full year for which data is available, show there were 42 sexual assaults and five rapes reported in Ceuta, a landmass that is a third the size of Manhattan and has 84,000 inhabitants.
Services under pressure
Spain’s Interior, Migration and Equality Ministries did not respond to Reuters questions about the allegations of sexual violence and threat.
Spain’s Health Minister Monica Garcia confirmed that medical services had treated five women for sexual violence, and said the most urgent healthcare challenge was putting a roof over migrants’ heads.
“The best way to protect women and children is to ensure they are in safe spaces,” she said.
On Monday, Migration and Social Security Minister Elma Saiz, also visiting the enclave, said authorities and the Red Cross were distributing 4,000 meals daily along with female hygiene kits, and that temporary reception centers with 1,500 further places were being set up.
The government was committed to providing humanitarian attention, she said.
Several human rights organizations operating in Ceuta or specialized in sexual violence, including Save the Children, the UN children’s agency Unicef and Amnesty International, have warned of the extreme vulnerability of migrant women and particularly girls in Ceuta and called for urgent measures including safe housing and specialist support.
“When large volumes of displaced persons are together in overcrowded spaces, these situations of sexual violence arise,” said Lucila Rodriguez-Alarcon, director-general of the PorCausa Foundation, adding it was necessary to segregate toilets and showers by gender and apply the same safety protocols as in refugee camps.
Calling for help
Atid said she was unable to sleep at night because she was afraid, instead resting between 7 a.m. and noon in the relative safety of daylight. The women had no access to separate showers, and her periods had stopped with the stress of her situation, she added.
Nonetheless, she said she would rather live on the street in Spain than remain in Morocco, which she said she left because her religious family did not accept her lack of belief in Islam.
Atid’s neighbor at the camp, Dikra Tetouan, 20, crossed into Ceuta with her 17-year-old sister Aya. She said women in their improvised camp faced repeated harassment and sexual assault.
“We try to protect ourselves by screaming so that people gather around us,” Tetouan said.
Tetouan said police had told the women there was little they could do. Spain’s Interior Ministry declined to comment, and neither the national police nor the Civil Guard immediately responded to requests for comment.
Scientists use AI to create viruses not found in nature, simultaneously raising alarms, enthusiasm
Researchers at Stanford University used artificial intelligence to create 16 functional viruses not found in nature earlier this month.
Some may feel as though they are at the start of a dystopian film, wondering why scientists would meddle with something as dangerous as new deadly viruses. However, these scientists have good reason, and while the viruses may be deadly to their intended targets, they have the potential to be life-saving for humans around the world.
The viruses created in the Stanford Lab are bacteriophages, and as the name suggests, these are viruses that exclusively target bacteria. As antibiotic resistance rises worldwide, chemical engineer Brian Hie and Samuel King began studying a potential solution involving the bacteriophage ΦX174 (pronounced “FYE-ex-1-7-4”), which targets E. Coli bacteria.
Antibiotic-resistant E. Coli found to pose threat to Israeli society
Researchers in Israel raised the alarm about antibiotic-resistant E. Coli bacteria in the past. A study published by the Health Ministry and Tel Aviv University in 2021 found that infections caused by the bacteria placed an “extremely high” burden on the public health system.
Researchers called for immediate action, including the development of prevention strategies and long-term control of antibiotic resistance.
Hie, using EVO 2, a generative AI model he created that generates new DNA sequences to solve biological challenges, may have the start of a solution.
Using ΦX174 as a template, the AI designed thousands of new genomes. The research team chemically synthesized and tested nearly 300 in the lab and came up with 16 that were viable and effective.
They were different from any natural phages, completely new viruses.
New phages could lead to new effective antibiotic medications
Hie explained that multiple phages could be used to create a more effective antibiotic medication.
“If the bacteria gain resistance to a single phage, it’s game over for the medication,” Hie said to the Stanford Report. “But if you have multiple genetically distinct phages in a mixture, it would be harder for the bacteria to develop resistance to the entire cocktail.”
The researchers found that a mixture of the designed phages was able to overcome the ΦX174-resistant E. coli strains when a mix of naturally sourced ΦX174-like phages could not.
While the innovations have great potential, many have also expressed concern over the potential dangers of using artificial intelligence to create viruses.
EVO 2 is open source, meaning anyone can download the AI and design new genomes themselves.
The Stanford researchers addressed biosafety and biosecurity considerations directly in their paper, encouraging any future researchers to consult with safety and security professionals and writing that all experiments were performed at the biosafety level appropriate for research with bacteriophages.
Additionally, safeguards were put in place by limiting the data used to train the AI. With the data given to it, EVO 2 was unable to generate any virus genomes capable of targeting animals (including humans), plants, or fungi.
Hie acknowledged that the tool could potentially be used for dangerous purposes but argued that the open availability is necessary to expedite research and the vast potential benefits to health and humanity.
Hie also claimed these viruses were safer than many naturally occurring viruses, as designed viruses were subject to more oversight in production.
Others have taken a more cautious approach.
Scientists call for tighter oversight, new legal framework
In a paper written in response to King and Hie, scientists from John Hopkins University’s Center, Thomas Inglesby and Moritz Hanke for Health Security warned that while the Stanford researchers limited the AI’s training data it would not be difficult for a different user to discover a way around the limitations, opening the possibilities for viruses designed to infect humans, animals, or plants in ways we cannot yet counter.
Inglesby and Hanke called for national and global oversight on future research, writing that the mechanisms in place are not enough.
Countries such as the US and Israel have laws that govern the research of dangerous biological agents, including bacteria and viruses.
In Israel, researchers must be granted approval by the official Council for Research into Biological Disease Agents before working with certain dangerous pathogens.
However, these laws are all designed with known pathogens in mind and do not cover new artificially designed viruses.
International policies, such as the World Health Organization’s global guidelines, also do not cover risks from AI-generated pathogens.
Additionally, while King, Hie, and the other researchers called for the providers of synthetic nucleic acids, which are used to create the newly designed viruses, to screen customers’ orders and be wary of potential bad actors, Inglesby and Hanke called for the practice to be mandated by law.
“The question is no longer whether generative viral genome design will exist. It is whether society can build oversight that allows its benefits to unfold while preventing it from enabling serious harm,” they wrote.
Class Valuation acquires Allstate Appraisal
Nasdaq Falls 1% as 30-Year Treasury Yield Hits 19-Year High
Stocks slid for a third straight session Tuesday morning, and the reason sits in the bond market: the U.S. government now has to pay more to borrow money for 30 years than at any point since 2007. When safe government bonds pay that much, investors have less reason to hold expensive stocks — and the most expensive stocks, the technology names, get sold first.
The 30-year Treasury yield rose about two basis points to 5.32%, a 19-year high. The 10-year note, the benchmark that sets mortgage and auto loan rates, sat near 4.73%. The two-year, which tracks Federal Reserve policy most closely, held around 4.19%.
The Nasdaq Composite led the decline, falling roughly 1%. The S&P 500 was off about 0.5% and the Dow Jones Industrial Average traded near flat to down 150 points. On Monday the Dow closed at 53,459.78, the S&P 500 at 7,745.06 and the Nasdaq at 26,644.91. That leaves all three lower on the week after the S&P set a record above 7,800 five sessions ago.
Oil is the second pressure point. Brent crude climbed above $91 a barrel and U.S. West Texas Intermediate topped $85, both rising for a third consecutive day. The 60-day understanding between Washington and Tehran expired Monday without an extension, and President Trump said he is not interested in renewing it. Iranian officials responded that Tehran may shift to a fully offensive posture if talks fail. Trump also warned Oman against interfering with U.S. plans for the Strait of Hormuz, which remains effectively closed. Every dollar oil gains flows into shipping, food and airfare costs weeks later, which is why the bond market treats it as an inflation story.
Among the movers, Caterpillar fell 2.9% and Nvidia dropped 1.9%, with Meta, Tesla and Oracle down as much as 3%. Goldman Sachs and JPMorgan traded lower as higher rates squeezed lending economics. On the winning side, Johnson & Johnson rose 2.3%, IBM added 1.4% and Chevron gained 1.4% on the oil move. Klarna plunged more than 20% after trimming its guidance.
Home Depot was the morning’s bright spot, gaining about 1% after beating on both sales and profit. The retailer reported second-quarter sales of $47.86 billion, up 5.7% from a year ago, with net earnings of $4.8 billion, or $4.79 per diluted share, against $4.58 a year earlier. Adjusted earnings came to $4.92 per share, ahead of the $4.73 Wall Street expected. Comparable sales rose 1.7%, the company’s best figure since late 2022.
The detail worth reading twice: shoppers spent more per visit but came in less often. The average ticket rose 2.8% to $92.50 while transactions slipped 1%. Chief Financial Officer Richard McPhail described the backdrop as frozen housing conditions. Homeowners sitting on 6.5% mortgages are not selling — they are fixing what they already own. Home Depot also collected $730 million in tariff refunds during the quarter and put $685 million of it straight toward lowering product costs, which is how the company held its full-year outlook steady despite higher fuel and energy bills.
Gold eased and the dollar was little changed. Behind the yield move sits a fiscal problem more than an inflation one: strategists point to the widening federal deficit and the flood of new corporate debt from artificial intelligence companies, all competing for the same buyers. Last week’s Treasury auctions told the story — 10-year notes cleared at 4.683%, a 19-year high, and 30-year bonds stopped at 5.216%, the worst in a quarter century.
Walmart, Target and Lowe’s report later this week, and minutes from the Fed’s last meeting are due. After July retail sales fell 0.6% and consumer sentiment dropped to 51.0 from 55.2, those results will say more about the American household than any index level does.
JBizNews Desk | Wall Street
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STAT+: Government workers feel the squeeze on health care
You’re reading the web edition of D.C. Diagnosis, STAT’s twice-weekly newsletter about the politics and policy of health and medicine. Sign up here to receive it in your inbox on Tuesdays and Thursdays.
I’d like to welcome Margaret Manto, who will be reporting on the FDA, and welcome back Nick Florko, who launched this newsletter in 2019, invented STAT’s commercial determinants of health beat, and will be pioneering a new beat covering declining trust in science. Send news tips and tearful reunions to John.Wilkerson@statnews.com or John_Wilkerson.07 on Signal.
GENEROUS deadline approaches for states
States have until Sept. 30 to decide whether to take part in a federal program giving them “most-favored nation” drug prices in Medicaid.
Home Depot rides America’s housing affordability problem to sales increase on home DIY projects
Home Depot’s sales improved during its second quarter as customers focused on smaller projects during the summer months with the U.S. housing sector still mired in a slump.
Revenue increased to $47.86 billion from $45.28 billion, edging out the $47.24 billion that Wall Street had expected, according to a survey by FactSet.
Globally, sales at stores open at least a year, a key indicator of a retailer’s health, climbed 1.7%. In the U.S., comparable store sales rose 1.3%.
“We saw broad based demand across the business as customers continued to engage in smaller projects,” Chief Financial Officer Richard McPhail said in prepared remarks Tuesday.
Customer transactions slipped 1% in the quarter, but the amount shoppers spent rose to $92.50 per average receipt from $90.01 a year earlier.
Healthy spending on smaller projects during the quarter is encouraging, said Neil Saunders, managing director of GlobalData.
“From our data, the number of smaller projects undertaken during the quarter increased by 1.5% over the prior year,” Saunders said in an email. “This may sound unimpressive, but it represents a step change from the declines of previous periods.”
But Saunders also pointed out a potential weakness that is impacting almost all businesses where credit is sometimes required.
“The number of bigger-ticket projects undertaken remains down, falling by 2.1% over last year,” he said. “Concerns around financing and a previous lack of moving activity both remain major drags on the bigger-ticket segment.”
Homeowners that are currently considering taking out loans using home equity are realizing that it is considerably more expensive now compared with the ultra-low rates Americans could count on in the early 2020s. A home project that seemed within reach at a 4% to 5% borrowing rate looks a lot more daunting at 8% or higher.
While the average long-term U.S. mortgage rate fell slightly for the first time in six weeks, it is still up from last year and borrowing costs remain steeper than they were a year ago.
The U.S. housing market has been in a slump dating back to 2022, the year mortgage rates began climbing from historic lows that fueled a homebuying frenzy at the start of this decade.
Sales of previously occupied U.S. homes slowed again in July as record prices and the highest mortgage rates in a year prove to be an insurmountable hurdle for many prospective buyers. Existing home sales fell 1.7% last month from June, the National Association of Realtors said last week.
Home prices continue to rise and hit unprecedented levels for the month of July, NAR said. The U.S. median sales price increased 2% from a year earlier, to $434,100.
For the three months ended Aug. 2, Home Depot earned $4.77 billion, or $4.79 per share. A year earlier the home improvement retailer earned $4.55 billion, or $4.58 per share.
Excluding one-time items, earnings were $4.92 per share. That’s much better than the $4.73 per share that Wall Street predicted.
Home Depot also announced Tuesday that it is launching express delivery nationwide. The service will get orders to customers within three hours or less. It will be available for a small flat fee in the U.S., with no subscription or membership required.
The Atlanta company has posted solid back-to-back quarterly performances this year though many Americans have struggled to buy a home. Despite the solid performance, Home Depot stuck with its earlier sales growth guidance for fiscal 2026 of between 2.5% and 4.5%. It also left unchanged its expectations that comparable sales will be flat to up 2%.
Home Depot said that its outlook includes tariff refunds, which are expected to partially offset higher fuel, energy, and other product input costs throughout the year. Last year, the company said that it didn’t expect to raise prices because of tariffs, but executive Billy Bastek said at the time that some products that were on Home Depot shelves may disappear.
The company’s stock rose 2% before markets opened.
This story was originally featured on Fortune.com
‘Lessons were drawn’: IDF confirms soldiers numbered Palestinian suspects in West Bank operation
IDF soldiers wrote numbers on the bodies of Palestinian suspects during a Monday operation in the West Bank village of Kabatiya near Jenin, Army Radio reported on Tuesday morning.
In response, the IDF told Army Radio that “security forces marked suspects who were being interrogated as part of the operation.”
Following this, the commanders explained, “the seriousness of the act was explained to the soldiers, and lessons were drawn from the matter.”
On Monday, the IDF announced that it had detained two terrorists and raided more than 100 houses in the area of Kabatiya.
The two terrorists are suspected of planning and promoting terrorist plots to harm the citizens of the State of Israel and the IDF, the military said.
The IDF has come under heavy scrutiny for its actions in the Palestinian village of Kusra near Nablus.
West Bank civilian enforcement to transfer from IDF to police
Also on Monday, Defense Minister Israel Katz announced that the military will present a plan for the transfer within the next two weeks, after initially announcing its intention to transfer the authority on Friday.
“We will not allow violence or unauthorized parties to take the law into their own hands,” Katz said.
In his response, National Security Minister Itamar Ben-Gvir hailed Katz’s decision, noting it to be a “significant step toward [implementing] Israeli sovereignty in the West Bank.
Ben-Gvir said he had requested that all responsibility for the area be transferred from the IDF to the Israel Police, including handing over responsibility for the Border Police’s Judea and Samaria Division from the military to the police, “in accordance with the coalition agreement that has so far been violated.”
Darline Graham met with Netanyahu during his US visit, vowed to continue standing with Israel
US Sen. Darline Graham (R-South Carolina) vowed to carry on the legacy of her late brother, Sen. Lindsey Graham, in her support for Israel during an interview with Fox News on Tuesday.
She told Fox Carolina anchor Justin Dougherty that she met Prime Minister Benjamin Netanyahu and his wife, Sara Netanyahu, when they visited the US for Lindsey Graham’s funeral last month.
According to Graham, they had a “really good conversation,” during which they discussed Lindsey Graham’s friendship with Netanyahu and his allyship with Israel.
Netanyahu reportedly emphasized his deep appreciation for the late Graham’s friendship and support.
While Graham stated that she had not discussed what her relationship with Israel would look like if she were elected to the Senate, she affirmed to Netanyahu that she would continue to stand with Israel.
Sen. Darline Graham says in @foxcarolinanews interview that she told Israeli PM Netanyahu at Sen. Lindsey Graham’s DC funeral last month that she will be an ally to Israel in the Senate like her late brother.
Graham to @DoughertyJC: “I have met with the prime minister and his… pic.twitter.com/16Q3an2l2l
— Emily Jacobs (@emilyfjacobs) August 18, 2026
Lindsey Graham left behind legacy of staunch Israel support
Graham was appointed as senator by South Carolina Governor Henry McMaster in July after Lindsey Graham passed away suddenly on July 12.
Lindsey Graham’s funeral was held on July 28.
At a memorial dinner held the night prior, Netanyahu spoke about his personal and diplomatic relationship with Lindsey Graham, stating that “America has lost a great patriot. Israel has lost one of its greatest friends and supporters. And I have lost a dear friend.”
Lebanon’s Aoun seeks extension of UNIFIL mandate, despite failure to prevent Hezbollah activity
Lebanon’s “first option” is to extend the mandate of the United Nations Interim Force in Lebanon (UNIFIL), which is due to expire at the end of the year, Lebanese President Joseph Aoun told a delegation of 20 lawmakers, Lebanese media reported on Monday.
“If the mandate is not extended, the second option would be to adopt a formula ensuring the continued presence of international forces in the south, within an appropriate legal framework, alongside and in coordination with the Lebanese Army,” Aoun said, stressing that UNIFIL’s presence was essential for stability in the country’s south.
UNIFIL criticized for failing to take action against Hezbollah’s military buildup
Despite Aoun’s support for the UN peacekeeping forces, UNIFIL has long been criticized for failing to take action against Hezbollah’s military buildup in southern Lebanon, Resolution 1701, which was adopted in August 2006, called for the peacekeepers to assist the Lebanese Armed Forces “in taking steps towards the establishment between the Blue Line and the Litani river of an area free of any armed personnel, assets and weapons other than those of the Government of Lebanon and of UNIFIL deployed in this area.”
Lebanese Prime Minister Nawaf Salam also reportedly told UN Secretary-General Antonio Guterres that Lebanon wants the mandate extended, and Lebanese media said Guterres said he understood the need to maintain the UN’s work.
Human rights organizations have also spoken out against plans to end UNIFIL’s presence. Louis Charbonneau, UN director at Human Rights Watch, said last week that “Pulling the plug on UNIFIL without a robust international force in place would effectively abandon millions of Lebanese civilians to an uncertain and potentially disastrous fate.”
“UN missions may not be a lasting solution,” Charbonneau added, “but the peacekeepers are a crucial deterrent against attacks on civilians and human rights abuses.”
Tropper, Hendel rule out joining any Netanyahu government, seeks Zionist coalition in 2026 election
Zionist Home-The Reservists Party chairman Chili Tropper formally ruled out joining a government led by Prime Minister Benjamin Netanyahu in an X/Twitter post on Tuesday.
“We will not sit in a Netanyahu government,” wrote Tropper, who further outlined his party’s principles, saying it would seek to join a Zionist government while working to broaden the coalition.
In a July interview with 103FM, Tropper similarly said his party would not help form a government headed by Netanyahu.
He added that he would not join a coalition that depends on parties he does not consider Zionist.
During the interview, Tropper addressed his party’s rise in the polls, the possibility of political alliances ahead of the elections, his relationship with Gadi Eisenkot, the question of evacuating communities in Judea and Samaria, and his criticism of the Religious Zionist Party.
Tropper said he had made his position on Netanyahu clear.
“I have not hidden my opinion of Netanyahu. I am not among those who hate or despise him, but everyone who was there on October 7 needs to finish their term,” Tropper said.
He added that he would not provide Netanyahu with the 61 seats needed to secure a Knesset majority, arguing that such a government would rely on non-Zionist forces. “I cannot be part of such a coalition,” Tropper said.
Tropper considers political partnerships for Israel’s 2026 elections
Tropper did not rule out political cooperation ahead of the elections, but said no concrete alliance was currently under discussion.
“If there are relevant alliances, we will join forces. I am not closing any door, but right now there is nothing specific on the table.”
He also criticized the current government while discussing the type of coalition he would like to see, arguing that it “chose an alliance with the draft dodgers,” while reservists continue to be sent to the front again and again.
Israeli settler extremist confronts Palestinian-American at his besieged West Bank home
Palestinian American Loui Ridi raised a giant American flag over his West Bank home, hoping it might deter extremist settlers besieging the property. But it wasn’t enough to stop one of them from walking onto Ridi’s land on Tuesday, during a tense face-off.
Ridi arrived in Kusra late on Monday after traveling from the US, fearing he could lose the property to Jewish settlers who have encircled three Palestinian homes in the village for more than a week, prompting US condemnation.
Ridi, who grew up in the village in the West Bank, was taking a morning walk among his cherry and fig trees on Tuesday when a settler approached from the hill above, in an encounter filmed by Reuters, the only media outlet present.
“You came to make a mess, ha?” the settler said in Hebrew as he approached, holding what appeared to be a Torah in one hand and filming Ridi with a mobile phone.
“You are a terrorist settler, you know that?” Ridi said, also filming with his mobile.
Palestinians confront extremists who encroach onto their property
An IDF vehicle drove by a few times before soldiers approached and spoke to the extremist, telling him it was a closed military area.
“I’ll leave if they leave. There are a lot of guys here. We’re all just guarding our territory. If they go inside the house, we’ll leave,” the settler told the soldiers.
The settler eventually retreated up the road before he was joined by two more settlers, and did not respond to a question from Reuters on what he was doing there. Eventually they ambled up the hill and out of sight.
“Just be inside, they go, and you’ll be inside. Don’t talk to each other, ok? I’ll solve this problem,” an IDF soldier told Ridi, instructing him to enter his home.
Ridi told the soldiers the settler’s presence was illegal, and he should be arrested.
The confrontation captured tensions in the village where settlers began besieging the homes more than a week ago, part of what rights groups say is a wider effort by settlers to seize more land from Palestinians, further eating into territory where they aim to establish a state.
The IDF has said it has deployed forces in the area to try to rein in the settlers and maintain security for residents.
But with settlers still outside, the families are afraid to leave their homes. Ridi hoisted the US flag over his property after arriving.
“I decided I want to raise this flag. If, God forbid, I’m unable to protect this house and the settlers end up here, they’re going to raise (their) flag. But before they raise their flag, they have to move the American flag, and that’s the message.”
Violence by Jewish settlers in the West Bank has been on the rise, some of whom are emboldened by the government of Prime Minister Benjamin Netanyahu, who has spearheaded a push to increase the number of settlements in the West Bank.
One of Ridi’s neighbors, Ibrahim Hassan, who, like the vast majority of Palestinians, does not hold US citizenship, told Reuters he was forced to flee his home last month after settlers accompanied by men in green military garb smashed the windows of his home, entered, and beat him.
The IDF did not immediately respond to a Reuters request for comment.
US officials have estimated that tens of thousands of Americans live in the West Bank, many of them in a cluster of villages between Ramallah and Nablus, where Kusra lies.
In the nearby village of Turmus Ayya, about 7 k.m. southwest of Kusra, local officials say that 80% of the town’s population holds US citizenship.
Yaser Alkam, 58, a spokesman for the village’s Palestinian American community, said there were several reasons he and many others in the village fly American flags over their houses.
“It’s a form of security, a form of protection. It provides deterrence not only to the settlers but also to the IDF,” he said.
He also said it sent a direct message to the administration of US President Donald Trump.
“Here’s an American citizen being attacked in the West Bank by an American tax-funded army, American weapons used to attack Palestinian Americans in the West Bank,” Alkam said.
The US Ambassador to Israel Mike Huckabee — a strong supporter of Jewish settlement in the West Bank — on Thursday condemned settlers besieging Ridi’s home as “Israeli terrorists.”
A US official and an Israeli official said on Friday that White House officials are pressing Netanyahu to publicly condemn the settlers’ actions.
Netanyahu has not commented on the siege in Kusra.
Florida congressional race set between anti-Zionist democratic socialist, staunch Israel supporter
Democratic primary voters in Florida’s newly drawn 25th Congressional District are choosing on Tuesday between an anti-Zionist member of the Democratic Socialists of America and one of Israel’s staunchest supporters in Congress.
The race offers a test of whether the Democratic Party’s progressive insurgency can extend to a district that includes Delray Beach, Boca Raton, and Miami Beach, and an electorate that is roughly 25% Jewish, highlighting the party’s widening divisions over Israel.
Redistricting has transformed what had been solidly Democratic territory into a district US President Donald Trump would have carried in 2024. The new lines pit Oliver Larkin, a DSA member who has accused Israel of genocide and called for ending US military aid to the country, against Jared Moskowitz, a two-term congressman who backs continued US military aid even as support for it has eroded within his party.
Polling from Moskowitz-aligned firms has shown him with a lead of 30-plus percentage points, while a more recent poll from a Larkin-aligned outlet this month put the two in a statistical dead heat.
Larkin’s language has alarmed some Jews, including his labeling of modern-day Israel as a “religious supremacist” country and his call for Israel to become a “secular” state. “I do not support a religious supremacist regime, whether it be in Israel or Saudi Arabia, or any other country,” Larkin told Fox News.
Larkin backs Mamdani on goal of arresting Netanyahu
Larkin supports a complete arms embargo on Israel, and told JTA that that should be “the minimum standard for anyone claiming to support democracy.” Asked by Fox News if he supports selling defensive weapons to Israel, Larkin responded, “I do not make a distinction between offensive and defensive weaponry.” He also backed New York City Mayor Zohran Mamdani’s goal of arresting Prime Minister Benjamin Netanyahu. Larkin doubled down after Mamdani backed down from the stance, saying, “I believe that the United States, any federal or otherwise law enforcement entity that has the legal jurisdiction to arrest Benjamin Netanyahu for his war crimes – that should be enforced.”
Larkin has courted support from left-wing, anti-Zionist Jews who support his platform and says that he has spoken out against antisemitism on the campaign trail.
“Our campaign believes in collective liberation for all people, and that includes the liberation of Jewish South Floridians and Jewish people the world over from antisemitism,” Larkin said in a statement to the Jewish Telegraphic Agency. He said that there is a rise in fascism across the US and that we “must recognize the link between antisemitism, Islamophobia, anti-Black racism, xenophobia, transphobia, and more and build a coalition to unite together to defeat these forces.”
Larkin said he supports a “one-state solution with equal and democratic rights for all people.”
Progressive, pro-Palestinian candidates with similar platforms have won the Democratic nomination this midterm cycle in deep-blue districts around the country. Larkin, who worked on Vermont Sen. Bernie Sanders’ 2016 presidential campaign, is betting he can match their success even in a heavily Jewish district that leans more to the center.
Moskowitz, who is endorsed by AIPAC and Democratic Majority for Israel, outright accused Larkin of fueling antisemitism, telling the Sun Sentinel editorial board in a letter that his opponent “has embraced the support of individuals and organizations that have repeatedly trafficked in antisemitic rhetoric and hostility toward the Jewish community.”
Last month, a Boca Raton rabbi encouraged Republican congregants to register as Democrats so they could cast their votes for Moskowitz. The far more moderate Democrat has refused to debate Larkin, saying that his opponent is contributing to antisemitism.
Moskowitz has also claimed that Larkin is “running against me solely on my religion.” The Sun Sentinel board rated Moskowitz’s claim “demonstrably untrue” and, in an unusual move, said it would not endorse him for reelection after he declined a joint interview with Larkin. The paper decried what it described as Moskowitz’s “lack of respect for voters.” Moskowitz’s campaign did not respond to a JTA request for comment.
Moskowitz has outraised Larkin 11-to-1, according to local media estimates. The American Israel Public Affairs Committee has raised $667,200 of Moskowitz’s $2.5 million through June 30, according to campaign finance analyses done by the website Open Secrets.
Anti-Zionist groups rooting for Larkin
Donna Nevel, a member of the South Florida chapter of the anti-Zionist group Jewish Voice for Peace, believes Larkin can win.
“There are thousands and thousands of us, from Jewish communities and all across South Florida, who are doing everything we can to make sure that Oliver will be our congressperson,” Nevel said to a cheering crowd, during a fundraiser held in New York City earlier this month.
She also said that “many Zionist organizations think that South Florida is their backyard.” She continued, “And we say, ‘Hell no!’”
In an email to JTA, Nevel said there are a “large and growing” number of Jews in the district supporting Larkin, including “well over a hundred Jewish canvassers on a regular basis.” Larkin joined a JVP-hosted Shabbat dinner with Michigan Rep. Rashida Tlaib and Florida’s left-wing US Senate candidate Angie Nixon on Friday.
Larkin has said that we “should not be supporting or allowing AIPAC to influence our elections.” He told the South Florida Sun Sentinel that the group has a “corrupting influence” and that it only supports Congress members “on the condition, in my estimation, that they support wholesale US military aid to Israel.”
Left-wing streamers Hasan Piker – a staunch Israel critic who’s drawn antisemitism accusations – and Michael Beyer, who was suspended from Twitch after calling Jews a “demon ethnicity,” have both fundraised for Larkin.
Asked about their support, Larkin told the Sun Sentinel that both figures have used “language that I personally have not used and will not use,” and said that as a candidate it is important “that I speak in respectful terms and based in fact.”
“But I believe that when those individuals have made those references it’s been towards members of the Israeli government,” Larkin said, as well as Israeli settlers in the West Bank.
“So certainly they’re not politicians, and they don’t speak in political terms, and I don’t condone language that dehumanizes any individual,” he said. “I do think that they have legitimate criticism – even if it is rather unvarnished in how they convey it – of what the Israeli government has done.”
Can we all agree on zero tolerance for all political violence, even among our allies? – opinion
Fighting violence selectively is like fighting pollution on only one side of a border; artificial distinctions cannot contain either – while both ultimately threaten you, too. That’s why we must go back to basics and proclaim zero tolerance for all terrorism.
Israel outlaws all political violence – whether committed by Palestinians or Jews, right-wingers or left-wingers, in the territories or in major cities. Shouting “there’s more of them” from that group, or “there’s so few of them” from my group, is ludicrous. It breeds lawlessness, arrogance, and chaos.
And in Israel, such hypocritical sifting violates Zionism’s great achievement in re-establishing Jewish sovereignty in our homeland after 2,000 years. Any government purposely failing to crush Israeli-initiated terrorism risks obscuring the chasm between Zionist morality and the barbaric addiction to violence woven into the heart of the Palestinian national movement – and its Progressive enablers.
America’s Department of Homeland Security defines terrorism “as a premeditated threat or act of violence, against persons, property, environmental, or economic targets, to induce fear or to intimidate, coerce or affect a government,” or “the civilian population … in furtherance of political, social, ideological, or religious objectives.”
The definition is politically, geographically, and religiously neutral. It bans the crime and the politicized motivation, regardless of the perpetrator’s partisan stance. It doesn’t ask on which side of the Green Line you live, whether you’re Palestinian or Jewish, or for whom you’re voting.
That Israel’s stalwart friend, American Ambassador Mike Huckabee, feels compelled to condemn “Israeli terrorists” should embarrass every Israeli. Clearly, our government has failed to solve the particular growing problem of certain settlers acting illegally – repeatedly.
The shame is compounded if Prime Minister Benjamin Netanyahu’s dismissive CNN comments are correct. He blamed “150 or so, what you call, juvenile delinquents … brought into the West Bank.” If so, doesn’t the surging phenomenon expose stunning governmental impotence?
The IDF and security establishment tracked 405 “nationalistic crimes” in Judea and Samaria in 2025’s first half, then 660 such attacks in 2026’s first six months, with the IDF estimating 300 repeat offenders at the core. Moreover, settler attacks on Israeli security personnel – defending us! – jumped to 45 assaults, with 140 Palestinians wounded and six killed.
Tolerating such thuggery hurts Israel, and not just our image. Vigilantism anywhere encourages vigilantism everywhere. It coarsens the collective soul while fraying the social fabric.
Political Science 101 teaches that, beyond individuals compelled to defend themselves, states must maintain their monopoly on violence, only trusting authorized police officers and soldiers to fight when necessary to maintain order and defend the country. Countries that lose control of their streets or indulge violent gangs become “failed states.”
Israel’s founding prime minister David Ben-Gurion understood that Jewish sovereignty – “mamlachtiyut” – required one army, one government, and one law.
Defining Jews’ adjustment challenge after millennia of powerlessness, he proclaimed: “We must learn to think like a state.” Similarly, even after Ben-Gurion’s forces shelled Menachem Begin’s men on the Altalena, Begin remained committed to “the national interest as a whole, which demands fighting unity of all soldiers.”
Israel needs a government committed to governing. That means stopping those settlers, those haredi (ultra-Orthodox) protesters, those left-wing demonstrators, those right-wing goons, those Bedouin and Arab racketeers, and those Palestinians threatening individuals, the public order, and the Zionist enterprise.
The word “those,” not “the,” targets violent outlaws, not entire groups.
Preventative steps
Administrative detention is not the answer – it threatens basic civil liberties. But Israel must be more creative – and aggressive – with travel bans, especially in Judea and Samaria, because so much of it is under military control. Travel bans should also punish haredim and other protesters who keep blocking traffic.
Two Australian states recently passed anti-disruption laws imposing heavy fines and up to two years’ imprisonment for protesters illegally blocking roads, ports, and bridges. Facial recognition software can catch repeat offenders.
Meanwhile, intelligently applied anti-conspiracy laws can break the manipulators planning constant, disruptive protests. In 2024, Great Britain imprisoned five climate activists for “conspiracy to cause a public nuisance” because of a planning call on Zoom, not the act of blocking the highway.
German authorities broke the “Last Generation” global warming protesters by dispersing autobahn blockades quickly, then invoked Polizeigebührenordnungen – police cost regulations. Protesters were charged the transactional costs of the police response, from towing charges to the officers’ hourly rates.
Courts modified it. But fees should be collected immediately, with interest compounding. Authorities should also fine the organizations conspiring to stop traffic, harass individuals, and destroy homes.
Paradoxically, policing political hooliganism aggressively is the best way to protect free speech. Such laws should be applied neutrally without ever indicting peaceful, law-abiding protesters – or maybe even first-time offenders, unless they’ve behaved violently.
But effective governments and healthy democracies accept passionate protected protest while punishing illegal actions that disrupt public order, especially when certain thugs keep repeating their crimes.
Similarly, democracies don’t judge partisan lawbreakers by their tribal affiliations or political inclinations. They’re punished for illegal actions, with extra penalties added if the motives are particularly heinous or socially threatening.
Many of us fear that this October’s election losers will respond violently – whomever they are. Thirty-nine percent of Israelis told INSS pollsters that internal violent conflict is one of Israel’s great threats – alongside a nuclear Iran.
President Isaac Herzog, fearing the “dangerous violence rearing its head,” keeps reminding “the people of Israel” that “elections are not a civil war. Disagreement and criticism are the lifeblood of our democracy, but our belonging to this place, and our responsibility for our shared future here… are the highest priority.”
Beyond failing miserably to contain political violence on many fronts, this government includes ministers fomenting some of it. Whatever our politics, we cannot let this situation deteriorate further, on any front.
The writer is an American presidential historian and a senior fellow in Zionist thought at the Jewish People Policy Institute (JPPI) in Jerusalem. He recently published, with David Suissa, 250 Reasons to Thank America, and with the JJPI, The Essential Guide to the US-Israel Partnership, the 250th Anniversary Edition. He is also a professor and Distinguished Scholar of North American History at McGill University.
Uber Wants Drones Making One Million Food Deliveries a Day
Uber is betting that the next major shift in food delivery will happen above the road, not on it.
The company is partnering with Zipline to bring drone delivery to Uber Eats in the United States, with the first service expected to begin later this year and an ambitious target of reaching 1 million drone deliveries a day by the end of 2029.
Uber is also investing in Zipline, giving it a financial stake in the company building the delivery system.
The move is important because it changes the economics of the last mile.
Today, a restaurant delivery usually depends on a driver, bicycle or motorcycle moving through traffic, finding parking and carrying one order at a time. A drone can potentially bypass congestion, travel a direct route and handle repeated short-distance deliveries with far less labor.
That does not mean drivers disappear.
Dense urban areas, apartment buildings, weather conditions, restricted airspace and larger orders will still require traditional delivery. But for suburban neighborhoods, hospitals, campuses and communities with predictable drop zones, drones could eventually handle a large share of routine orders.
Zipline has already spent years building autonomous delivery systems for medical supplies, food and retail products.
Its aircraft are designed to carry relatively small packages over short and medium distances, with automated systems managing navigation and delivery rather than requiring a human pilot for each trip.
For Uber, that creates another way to increase delivery capacity without adding a corresponding number of drivers.
The company already operates one of the world’s largest delivery networks, but every additional order currently requires labor, transportation and time. Autonomous delivery changes that equation.
If a drone can make multiple trips per hour with relatively low operating costs, the economics of delivering a $15 meal could become far more attractive than paying a driver to sit in traffic.
There is also a bigger competitive question.
DoorDash, Amazon, Walmart and other major delivery companies are all testing different forms of automation, from drones to sidewalk robots.
The first company that can make autonomous delivery work reliably at scale could gain a major cost advantage.
Uber’s target of 1 million drone deliveries per day shows how seriously it is taking that possibility.
The number would equal hundreds of millions of deliveries annually and would move drone delivery from experimental technology into mainstream logistics.
The biggest obstacles remain regulation, weather, noise, public acceptance and the practical challenge of delivering safely in crowded neighborhoods.
But the direction is becoming clear.
Uber began by replacing phone calls to taxi dispatchers with an app. It then expanded into food, freight and other transportation services.
Now it is preparing for a future in which some of those deliveries may no longer need a road at all.
JBizNews Desk | San Francisco
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Biden’s favor to Trump on cheaper drug prices includes a largely forgotten law to make Medicare more powerful
President Donald Trump has been taking credit for new federal data that shows U.S. prescription drug prices fell 0.8% in July and are down 3.1% from a year ago, the steepest year-over-year drop since 1963.
The plunging prices, the White House said, resulted from the Republican president’s “most favored nation” drug deals with pharmaceutical firms and the TrumpRx website, which it said are “delivering real relief to American families and putting patients first.”
The real picture is more complicated, said drug pricing experts, who noted that other factors, including a law from Democratic President Joe Biden’s time in office that allowed Medicare to negotiate with pharmaceutical companies, are potentially more significant contributors to the latest consumer price index figures.
Also at play, they said, are generic and biosimilar products that have come onto the market, offering competition that drives down the price of expensive brand-name and biologic drugs. In addition, the prescription drug price index measured by the Labor Department and released last week doesn’t directly reflect how much consumers pay — it measures how much pharmacies get paid for the drugs, both by insurers and consumers.
“It’s difficult to know in one number what’s going on beneath the hood,” said Juliette Cubanski, a vice president and director of the Program on Medicare Policy at the healthcare research nonprofit KFF. “I don’t think we can attribute this price reduction to any one specific policy change or initiative.”
Here’s what to know about the decline in prescription drug prices:
Competition and policy both contribute to changing prices
Drug pricing experts said both market competition and various policy changes have influenced prescription drug prices in recent years.
On the market side, “when big blockbuster products face generic competition, their prices fall,” said Dr. Benjamin Rome, a health policy researcher at Harvard Medical School.
For example, he said, various biosimilar drugs have arrived on the market to treat the same autoimmune conditions as the brand-name drug Humira, offering similar treatment at a lower cost.
Similarly, competition has led to price reductions for Stelara, a popular biologic medicine that treats chronic inflammatory conditions, said Stacie Dusetzina, a professor of health policy at Vanderbilt University School of Medicine.
Biden-era federal policies also likely played a role — most notably the 2022 Inflation Reduction Act, which for the first time allowed Medicare to haggle with drugmakers over the cost of the top-selling prescription drugs in the program.
New prices for the first 10 of those negotiated drugs launched in January, a change Cubanski, Rome and Dusetzina all said likely made an impact on aggregate prices. The Trump administration has carried forward those negotiations, as mandated by law, and projects additional savings on prescription drugs in the years ahead.
A new Trump administration policy lowering the price of GLP-1 weight loss drugs for certain eligible Medicare enrollees could also be playing a role in driving down prices, the experts said. But that went into effect in July, so only its first month is reflected in the data.
It’s hard to measure the impact of MFN deals and TrumpRx
Trump has sought to attribute the drop in prescription drug prices to his “most favored nation” deals to bring U.S. pharmaceutical prices to the same level as other developed countries.
Drug pricing experts said the actual impact of those deals so far is unclear, since the contracts with drug companies have not been made public and the models designed to put MFN policies into practice in federal health programs have not gone into effect yet.
“These policies are under development and have not affected payers in the index,” Dusetzina told The Associated Press in an email. “Ultimately, I believe that the change is likely to be more directly related to the IRA’s policies and the Medicare drug price negotiation program than it is to current policies.”
Experts lauded TrumpRx, the White House’s website funneling Americans to the best deals on a variety of prescription drugs, for bringing a helpful resource and more price transparency to the public.
But they said it’s unclear how many Americans are making use of the service. In addition, many of the brand-name drugs it has featured are cheaper with insurance or have lower-cost generic versions sold elsewhere.
The White House said the website has generated $700 million in savings for patients but didn’t explain how it reached that figure. Democratic Sen. Elizabeth Warren of Massachusetts last week questioned that claim in a letter to the Trump administration, saying Health Secretary Robert F. Kennedy Jr. has admitted that TrumpRx doesn’t store patient, health or prescription information.
“Without this information, the accuracy of any claim of savings made by the Trump administration is unreliable,” she wrote.
Many consumers still face high drug costs – and rising health costs overall
Even as the consumer price index shows a year-over-year drop in drug prices, experts warned consumers aren’t necessarily seeing that in their budgets.
That’s because the Labor Department’s figures measure not what consumers pay directly but what pharmacies are paid by insurers and consumers. Insurers often eat much of the cost, and what patients pay can depend on a variety of factors, including whether they are insured and what plans they have. Plus, some Americans still rely on expensive drugs that don’t have cheaper alternatives yet.
Higher health spending and federal policy changes are also resulting in higher insurance premiums and out-of-pocket costs for many Americans. That could mean even as drug prices decline, they’re paying more for healthcare than they once were.
“A price measure like the CPI is not going to adequately capture consumers’ experience with healthcare and prescription drugs and other hospital services, the same way it would for groceries and gas and other tangible services that people go and pay for at the store,” Rome said.
This story was originally featured on Fortune.com
Prescription Drug Prices Fall 3.1%, Biggest Annual Drop in More Than 60 Years
Prescription drug prices in the United States are doing something consumers almost never see in health care: moving sharply lower.
Prices fell 0.8% in July and 3.1% from a year earlier, according to the latest Consumer Price Index, marking the steepest annual decline in prescription-drug prices in more than six decades. Prices have not risen in any month so far this year, an unusually persistent stretch of flat or declining costs. (Axios)
The decline matters because prescription drugs have historically moved in the opposite direction. Consumers are accustomed to paying more each year for medication, while insurers, Medicare and employers absorb even larger increases behind the scenes.
This time, several forces are pushing the other way.
One is Medicare’s new negotiated pricing system. The first negotiated prices for 10 high-cost drugs took effect in January, with reductions reaching as much as 79% below previous list prices for some medications. Because Medicare Part D payments are included in the government’s prescription-drug inflation calculation, those reductions can show up directly in the CPI. (Axios)
Another is the steady arrival of cheaper generic drugs as patents expire on blockbuster medicines. When a branded drug loses exclusivity and multiple generic competitors enter the market, prices can fall quickly enough to pull the broader index lower.
The Trump administration has also pointed to TrumpRx, its program designed to connect consumers with discounted cash prices for certain medications, as contributing to the decline. Health economists, however, say the program likely explains only part of the movement because many of those discounts already existed and TrumpRx primarily makes them easier to find. (Axios)
The White House and supporters of the Biden-era Inflation Reduction Act are now competing over who deserves credit.
That political argument is separate from what consumers are actually paying, and the answer there is more complicated than the headline number.
The Bureau of Labor Statistics does not simply measure the sticker price printed on a drug. Its prescription-drug index tracks the total reimbursement received by the pharmacy from the patient and eligible payers, including private insurance and Medicare Part D. That means a lower CPI reading can reflect savings captured by Medicare or insurers even if every patient does not immediately see a 3.1% reduction at the pharmacy counter. (Bureau of Labor Statistics)
Insurance design still matters enormously.
A patient with a fixed $20 copay may see no change at all even if the underlying cost of the medication falls. Someone paying coinsurance based on the drug’s price could benefit more directly. A patient with a large deductible or paying cash could see something different again.
And not every medicine is getting cheaper.
The 3.1% figure is an average across the prescription-drug market. Individual branded medicines can still increase in price even while falling costs for generics and negotiated Medicare drugs pull the overall index lower.
That makes this a meaningful shift, but not yet a universal one.
Prescription drugs were also one of several categories helping hold overall inflation down in July. The broader Consumer Price Index rose just 0.1% for the month, while prescription medication costs moved lower alongside gasoline and hotel prices. (Reuters)
For consumers, the bigger question is whether this turns into a lasting change rather than an unusual six-month stretch.
More Medicare-negotiated prices are scheduled to enter the system over time, additional major drugs will lose patent protection, and competition from generics and biosimilars continues to expand. If those forces keep pushing in the same direction, prescription drugs could become one of the few major household expenses providing meaningful relief instead of adding to inflation.
But the pharmacy counter remains the ultimate test.
A historic decline in the national price index is significant. For millions of Americans taking medication every day, what matters is whether that decline eventually reaches the number they are actually asked to pay.
JBizNews Desk | Washington
© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.
The finance skills that are becoming more and more critical in the AI age
Good morning. Finance skills are topping the list of what companies need most as AI takes center stage.
Executive search firm Heidrick & Struggles has released its 2026 Skills Index, unveiling a top 15 most in-demand skills list based on its proprietary data. Financial controls, accounting, and audit rank first, followed by project management, then financial planning, analysis, and modeling. Program management office leadership, and process optimization round out the top five—a lineup that reflects what companies need most during leadership change, transactions, and transformation: clarity, execution, and stability.
“The external environment is certainly a major factor behind financial controls, accounting, and audit ranking as the number one most in-demand skill,” Sunny Ackerman, global managing partner of on-demand talent at Heidrick & Struggles, told me. Companies are navigating economic uncertainty, a highly selective capital environment, market volatility, and rapid technological change driven by AI, Ackerman said.
“When companies are managing many competing priorities at once, financial leadership becomes critical,” she said. Experienced leaders who can strengthen financial operations, improve visibility, and create greater confidence in the numbers and how to move the business forward are in demand.
It stood out to me that no AI-specific skill appears anywhere in the top 15 most in-demand list, even though the report names “turning AI ambition into operating results” as a top business priority. However, that’s not a sign companies have deprioritized AI. It’s a sign AI is being built into every function.
“This is one of the most interesting findings in the data,” Ackerman said. “Organizations are no longer approaching AI as a standalone technology initiative.”
AI’s success depends on more than the technology itself—it requires strong data foundations and clear governance, she explained. In looking at the skills experiencing the fastest growth in the firm’s 2026 Skills Index, “AI” doesn’t emerge as a distinct category. Heidrick & Struggles sees advanced analytics increase by 350%, database architecture and data management grow by 150%, and process optimization and transformation rise by 147%.
“The biggest takeaway is that organizations aren’t simply looking for AI specialists,” Ackerman said. “They’re looking for leaders who can connect data, technology, and business operations to drive outcomes.”
That means companies aren’t asking “who understands AI?” so much as “who can use it to make analytics sharper, data more reliable, and operations more efficient?” AI has moved from a hiring category to an operating expectation.
Finance’s growing role as the interim fix
The index also points to a broader shift toward interim leadership, and finance sits at the center of it. Heidrick & Struggles’ 2026 High-End Independent Talent report found that interim CFO roles account for 51% of all interim leadership requests—by far the largest share of any C-suite function.
“This underscores the critical role finance leaders play during periods of uncertainty and change,” Ackerman said, “because of their ability to provide the visibility, financial discipline, and strategic guidance organizations need to navigate complexity with confidence.”
Read together, the data tells a consistent story: execution, not experimentation, is what companies are staffing for. And increasingly, that means finance leaders who can fold AI into the fundamentals rather than treat it as a separate initiative.
Sheryl Estrada
Sheryl.Estrada@fortune.com
This story was originally featured on Fortune.com
The Buss family wants an ‘exit gracefully.’ Jeanie Buss says no
Los Angeles Lakers governor Jeanie Buss is legally contesting her siblings’ plan to sell the family’s remaining 17.8% minority ownership stake in the team to Josh Kushner and Bob Iger, according to a letter obtained Monday by The Associated Press.
ESPN and The Athletic first reported that the siblings had voted to sell the family trust’s remaining interest in the 17-time NBA champion team purchased by their father, Jerry Buss, in 1979. The decision would end Jeanie Buss’ tenure as the Lakers’ governor because that job requires at least 15% ownership of the team.
Jeannie Buss’ attorney, Adam Streisand, wrote to representatives for her five siblings to state that any decision to sell the family trust’s ownership stake could not be “effectuated without approval of the current co-trustees, Jeanie, Janie and Joey Buss.”
The letter further states that the co-trustees “are bound to vote the Los Angeles Lakers, Inc. shares to ensure that the minimum 15% ownership requirement is maintained in order to ensure that Jeanie Buss may remain Controlling Owner. Any attempt by the co-trustees to do otherwise, and any attempt to aid or abet the co-trustees as such, would constitute a breach of trust, breach of fiduciary duty and be in contempt of court.”
Jeanie Buss has been the Lakers’ governor since Jerry Buss’ death in 2013, and she led the family’s decision to sell a controlling stake in the Lakers to Dodgers owner Mark Walter last year at a valuation of $10 billion. Walter, who is under federal investigation for tax issues, abruptly reached a deal earlier this month to flip the Lakers to Kushner and Iger at a valuation of $12.5 billion, another record for a pro sports team.
Venture capitalist Kushner and former Disney CEO Iger are reportedly buying about 65% of the team from Walter. They would own about 83% if they reach a deal with the Buss siblings — and Jeanie Buss would lose the governor role that she had been slated to keep at least through 2030 under the deal with Walter.
The Buss siblings have been in frequent conflict since their father’s death, with Jeanie firing Jim from his job as the Lakers’ head of basketball operations in 2017, followed a week later by a lawsuit against her brothers amid an attempt by Jim and Johnny to oust Jeanie from her role as the Lakers’ controlling owner.
Not all of the six Buss siblings were in favor of the sale to Walter, and Joey and Jesse were fired from their front-office jobs with the team last November.
The siblings say they voted this month to sell their family’s remaining interest in the Lakers, but Jeanie Buss claims any vote is void. ESPN reported that Jeanie Buss was the only sibling who didn’t support the final sale.
“We have decided as a family to sell the remaining Buss Family Trust shares to the Bob Iger group as part of the ongoing transaction,” the Buss family said in a statement. “We love the Lakers, Laker fans and will continue to support Los Angeles, but it is time to use this opportunity to move on and exit gracefully while we still can.”
In his letter, Streisand said Joey and Jesse Buss have leaked information to ESPN for many years “for the malicious purpose of doing harm to the Los Angeles Lakers so long as Dr. Buss’s chosen successor, Jeanie Buss, carries out her father’s wishes.”
Jerry Buss was a chemist and real estate investor who bought the Lakers, the NHL’s Los Angeles Kings and the Forum arena from Jack Kent Cooke for $67.5 million. The Lakers quickly entered a renaissance in which they became known for their flashy “Showtime” style of play while winning five NBA titles between 1980 and 1988 behind Magic Johnson and Kareem Abdul-Jabbar.
While the NBA and professional sports became increasingly more corporate, the Lakers remained essentially a family business despite their massive profile and steady success. Jerry Buss and the Lakers have employed many of the basketball world’s greatest players and coaches of the past five decades, and Kobe Bryant led the Lakers to five additional championships between 2000 and 2010 before LeBron James added the 17th in 2020.
The sale agreement with Kushner and Iger still must be approved by the NBA’s board of governors, and the process could take months.
This story was originally featured on Fortune.com
STAT+: Prominent AI startup rolls out virtual cell model in race to speed up science
Imagine Google Earth, but for a human cell. Zoom in closely enough, and instead of streets and buildings, there are proteins and strands of RNA and DNA. Then knock out a gene, or drop in a drug, and you’d see the system predict how the cellular landscape changes.
That’s the idea behind AIDO Cell, a new virtual cell system unveiled Tuesday by Palo Alto, Calif., startup GenBio AI. If Google DeepMind’s AlphaFold sought to predict the structure of individual proteins, AIDO Cell is taking much broader aim: predicting how the molecular machinery of an entire cell behaves.
“With AlphaFold, you’re predicting the structure of one house or learning about one person in that city, whereas in AIDO Cell, you’re sort of predicting how that whole city works,” said David Baker, a University of Washington scientist who co-founded GenBio AI and shared the 2024 Nobel Prize in chemistry with the makers of AlphaFold for his work in computational protein design.
Meet OpenAI’s ChatGPT for Teens, which doesn’t talk about sex or suicide and gives you homework help instead
OpenAI is launching a version of ChatGPT designed for teenagers — the first generation to grow up with artificial intelligence — who are already using it for schoolwork, questions about daily life and even companionship.
The San Francisco-based company says ChatGPT for Teens, which launches Tuesday, is tailored for kids aged 13 to 17 with stronger protections including content restrictions around things like suicide, self-harm and romantic or sexual chats. It also provides homework and study support designed to help students learn rather than spit out answers and school essays.
The idea is to guide teens toward healthy AI use in an age-appropriate environment, the company said.
“We want to treat teens like teens, which means that we have to make sure that we’re showing up with the right developmental stage when we’re not either talking down to them or treating them like kids, but we’re also making sure that they’re not exposed to material that they shouldn’t be exposed to,” said Ann O’Leary, vice president of global policy at OpenAI.
Risks abound in widespread teen usage of AI chatbots
Parents, educators and child development experts have been sounding alarms over children’s use of AI chatbots, which have been blamed for facilitating cheating on schoolwork and even suicide. And while even adults can fall victim to anthropomorphizing AI and developing unhealthy relationships with it, teenagers’ brains are not yet fully developed and they can be particularly vulnerable.
Last year, research from a watchdog group found that ChatGPT would tell 13-year-olds how to get drunk and high, instruct them on how to conceal eating disorders and even compose a heartbreaking suicide letter to their parents if asked. In interactions with researchers posing as vulnerable teens, ChatGPT typically warned against risky activity but went on to deliver startlingly detailed and personalized plans for drug use, calorie-restricted diets or self-injury.
In the U.S., more than 70% of teens are turning to AI chatbots for companionship and half use AI companions regularly, according to a 2025 study from Common Sense Media, a group that studies and advocates for using digital media sensibly.
OpenAI CEO Sam Altman has said that the company is trying to study “emotional overreliance” on the technology, describing it last year as a “really common thing” with young people.
For users of ChatGPT for Teens, the chatbot is prevented from suggesting it has personal feelings toward the user or implying that it is conscious or experiences emotions, according to OpenAI. That’s in addition to blocking romantic or sexual chats.
“We went through and identified what are the hypothetical cues that a model could give that might make a teenager kind of develop a relationship to it,” said Allison Mishkin, head of child development at OpenAI.
A new version of the chatbot expands safety protections
OpenAI doesn’t verify users’ ages, but it already uses age assurance to estimate if someone is under 18 based on factors such as their types of queries. If someone is identified or identifies themselves as a minor, they are automatically placed into the teen version of the chatbot. This is similar to Meta’s approach to teen accounts on Instagram, which have stricter content, chat and privacy restrictions than regular accounts.
To use parental controls, both the teen user and their parent or guardian have to opt in. But O’Leary said the idea with the teen chatbot is to “make sure that this is safe, even if you don’t use parental controls.” Parents with linked teen accounts can set “quiet hours” when their teen can’t access ChatGPT, and receive safety notifications in limited high-risk situations, such as the possibility of a user hurting themself.
“We are adding additional notifications related to eating disorders, while limiting what is shared and focusing on moments when offline support may matter most,” OpenAI said.
For homework help, OpenAI said the teen chatbot is designed not to give easy answers but to guide students to come up with answers on their own. The company already offers a version of ChatGPT for teachers, and tailoring a model to help kids with studying and homework could give OpenAI more ways to bring its product to schools.
“We continue to also invest in expanding interactive learning because research shows that people learn more effectively when they actively engage and struggle with concepts,” Mishkin said.
This story was originally featured on Fortune.com
Kindergarten vaccine exemptions are climbing
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STAT+: Pharmalittle: We’re reading about a setback for Eyepoint, a win for Amylyx, and more
Top of the morning to you. Gray skies are hovering over the Pharmalot campus right now, but our spirits remain sunny, nonetheless. Why? We will trot out a bit of insight from the Morning Mayor, who would say “Every new day should be unwrapped like a precious gift.” To celebrate the notion, we are brewing still more cups of stimulation and inviting you to join us. Our choice today is blueberry cobbler, a summer treat. Meanwhile, here is the latest menu of tidbits. Hope you have a smashing day, and of course, do stay in touch. …
Eyepoint disclosed that patients administered its experimental treatment for a common cause of age-related blindness failed to maintain vision with less frequent injections compared to a standard treatment — meaning a Phase 3 clinical trial had fallen short of its primary goal, STAT says. The setback imperiled plans to seek regulatory approval for the drug, Duravyu, and caused its stock price to plummet. Shares of Ocular Therapeutix, which plans later this year to seek regulatory approval for its competing treatment, rose in reaction. Both companies are developing drugs to maintain vision in people with wet age-related macular degeneration.
Novartis will not pursue reimbursement in Canada for Vanrafia, its newly approved treatment for a rare kidney disease, due to the current “access environment,” CityNews Toronto reports. Drug companies have to follow a complex process that can take years after getting Health Canada approval before making it into pharmacies and medicine cabinets. Data available through the Canada Drug Agency reveals that fewer than 50% of medicines approved by Health Canada proceed to the next stage, limiting its availability through hospitals, and private and public insurance.
‘The negotiations are very intense and delicate’: Carney, Trump hold crunch talks to avoid midnight 50% tariff deadline
The U.S. and Canada are negotiating in an effort to reach a truce on tariffs before a 12:01 a.m. Wednesday deadline set by U.S. President Donald Trump.
If no deal is reached, Trump has threatened to impose 50% tariffs on $20 billion worth of Canadian products, ranging from hockey sticks to tongue depressors.
″We are negotiating,” Canadian Prime Minister Mark Carney told reporters Monday, speaking in French. “The negotiations are very intense and delicate. This is not the time to talk about negotiations in public.”
The two countries have wrangled for decades over trade, poking each other over sore spots like Canadian softwood lumber imports and U.S. access to Canada’s protected dairy market.
Somehow they still managed to remain friends, allies — and trading partners. Canadian soldiers fought alongside Americans in Afghanistan after 9/11. The 5,525-mile U.S.-Canada border is undefended, and nearly 330,000 people and $2 billion dollars’ worth of goods cross it every day; 800,000 Canadians live in the United States.
Trump’s belligerent approach to dealing with Canada marks an extraordinary departure from the traditionally cooperative relationship between the two countries. Trump has hit Canadian goods with tariffs — in a push to bring manufacturing back to the United States — and has repeatedly made inflammatory comments about turning Canada into America’s 51st state.
The Canadian public is fed up. A petition to expel the U.S. ambassador, a Trump ally, has collected nearly 218,000 signatures since July 21. It accuses Ambassador Pete Hoekstra of having “normalized’’ Trump’s talk of annexing Canada, among other things.
Looking for an off ramp
Nearly 72% of Canadian goods exports last year went to the United States. And the Trump administration might be wary of imposing a hefty new tariff — paid by U.S. importers who try to pass along the cost to consumers via higher prices — ahead of November’s midterm elections. American voters are already frustrated with the high cost of living.
“I don’t think either side really wants these tariffs to come into effect,’’ said Ryan Majerus, a partner at King & Spalding and a former U.S. trade official. “There’s a pretty strong push on both sides to find an off ramp here.’’
Majerus said the United States is aiming to get Canada to buy more U.S. military equipment, including F-35 fighters; to take part in Trump’s “Golden Dome’’ missile defense; and to give the United States more access to critical minerals, thereby reducing America’s reliance on tenuous supplies from geopolitical rival China.
The Canadians would like relief from U.S. tariffs on steel and aluminum as well as softwood lumber, which America says receives unfair government subsidies.
Trump relies on Smoot-Hawley to go after Canada
Trump has made tariffs the centerpiece of his second-term economic agenda. Last year, he imposed double-digit import taxes on almost every country on earth, justifying them by declaring the longstanding U.S. trade deficit a national emergency. The Supreme Court in February ruled that he’d overstepped his authority, striking down those tariffs and setting the stage for the federal government to pay refunds to importers.
Trump immediately looked for other ways to rebuild his tariff wall. Last month, he imposed import taxes of 10% to 12.5% on 59 countries and the European Union — which together account for 99% of U.S. imports — for allegedly failing to have or to enforce restrictions on imports made from forced labor.
Then he reached back to the Great Depression to find a cudgel with which to whack Canada, one of his favorite targets.
Trump invoked Section 338 of the Tariff Act of 1930 to impose 50% tariffs on products that account for about 5% of Canadian exports to the United States.
Nearly a century ago, with the U.S. and world economies in collapse, Congress passed the 1930 tariff law, imposing hefty taxes on imports from around the world. Known as the Smoot-Hawley tariffs, for their congressional sponsors, they are notorious among economists and historians for limiting world commerce and making the Great Depression worse.
Section 338 tariffs have never been used before. U.S. trade negotiators traditionally have favored another tool, Section 301 of the Trade Act of 1974 — the provision Trump invoked for last month’s forced-labor tariffs.
Section 338 authorizes the president to impose tariffs of up to 50% on imports from countries that have discriminated against U.S. businesses. Unlike Section 301 sanctions, no investigation is required. Nor is there any limit on how long the tariffs can stay in place.
In announcing the Section 338 tariffs, Trump claimed that Canada discriminates against American exports of autos, alcohol and cheese. Trump is angry because Canada and China were the only countries that punched back with retaliatory tariffs of their own when he slapped levies on their products last year.
“If a country retaliates against us, we’re obviously not going to tolerate that,” U.S. Trade Representative Jamieson Greer told reporters Friday at the Iowa State Fair. “We’ll take action. My sense is the Canadians, they want to have a more conciliatory approach, but we’ll see.”
New leverage to renegotiate USMCA
The U.S. is renegotiating a North American trade pact — the US-Mexico-Canada Agreement — that Trump strong-armed America’s neighbors into accepting in his first term. The threat of Section 338 tariffs gives the United States leverage to seek fresh concessions from Ottawa.
“From Carney’s perspective, you need (USMCA) to be renegotiated,” said Christopher Gundermann, fellow in the economics program at the Center for Strategic and International Studies. ”You can’t renegotiate it with a massive trade war going on.”
But the Canadian public’s furor over Trump’s policies may limit Carney’s ability to cut a deal. Canada could retaliate again if the new 50% tariffs take effect, potentially aggravating a trade fight.
Canada’s government “cannot look like it is simply caving to the Trump administration’s demands,’’ said Daniel Béland, a political science professor at McGill University in Montreal. “Making further concessions without getting something meaningful in exchange would probably lead to a strong backlash … The risk is for the Carney government to make Canada look weak and, therefore, even more vulnerable to future trade and geopolitical bullying on the part of the Trump administration.”
Dominic LeBlanc, Canada’s minister for U.S. trade, met with Greer on Monday. He was tight-lipped afterward.
“The work is continuing,’’ he said. “We continue to do our job.’’
____
Gillies reported from Toronto.
This story was originally featured on Fortune.com
The gift of a garden: How Facebook’s Buy Nothing helped a teacher reinvent herself as an urban flower farmer for free
When Marisa Mender-Franklin walks through any of the nine flower farms she runs in Memphis, Tennessee, her first thoughts are of gratitude. Partly for the flowers and the bees, but mostly for the support of her neighbors.
That’s because members of her local Facebook Buy Nothing group shared their unused yards and gardens with her, allowing her to achieve her dream of owning a flower shop and working as an urban flower farmer.
“None of this would be possible without an immensely supportive community,” she said.
Her post read, ‘Flowers in need of a garden’
In 2020, at the height of the COVID-19 pandemic, Mender-Franklin was a teacher planning her wedding.
“I thought it would be fun to grow and design my own wedding flowers,” she said. So, the lifelong gardener planted “every square inch” of the tiny yard in front of her rental home with seeds and added pots along the walkway and on the porch.
The experience fortified her lifelong dream of working with flowers, she said, “but I didn’t own land or have a path to owning land.”
As a member of the Buy Nothing group, she had noticed members offering unwanted furniture, household goods and other items free to people who needed them.
“Somebody once posted looking for a French horn for their kid, and within six hours, they had one,” she said. “If the group can do that,” she reasoned, “then certainly there’s someone who has a garden they can’t use and would let me grow flowers there.”
In her post, she expressed her desire to grow and sell flowers, and promised to be a good tenant and provide the owner with weekly bouquets. “Within 5 minutes, my phone started pinging like crazy,” she said. Within a week, she had received 40 offers of free places to grow flowers.
That first year, 2021, Mender-Franklin selected four plots. Members of the online group began dropping off cardboard and vases on her porch.
“People even volunteered to help weed or plant,” she said.
Today, she runs her flower business full-time. She owns the Midtown Bramble and Bloom flower shop, oversees the nine farm plots of various sizes and employs 10 people. Last year, the business held 57 workshops, and provided flower arrangements for 44 weddings and large events.
The inspiration was a Canadian flower gardener
Mender-Franklin said she knows of similar land-share situations in other cities. She was inspired by the example of Sarah Nixon, who, from 2001 to 2021, planted flowers in neighbors’ yards in Toronto and sold weekly flower-bucket and arrangement subscriptions. Nixon also sold flowers at farmers’ markets and a specialty grocery store, and provided flowers for weddings.
She started her business, My Luscious Backyard, the analog way, by leaving letters of introduction in neighbor’s mailboxes that proposed the barter of land use in exchange for upkeep of their gardens.
“I was obsessed with growing flowers for my own enjoyment, and my own backyard was full,” said Nixon. “But I noticed some of my neighbors begrudgingly mowing their lawns and not seeming to use their properties.”
The arrangements can be mutually beneficial
In Memphis, Mender-Franklin’s team transformed the lawns and neglected gardens into beds and rows of flowers. Along with the bouquets and other perks, the homeowners are able to enjoy flower gardens without the responsibility of maintaining them.
The agreements are formalized with leases that spell out everything from boundaries to water costs.
Karen Golightly, who owns one of Mender-Franklin’s original plots, said she didn’t hesitate when she saw the post on the Buy Nothing group. The weekly bouquets she receives are lovely, she said, “but the biggest benefit is that it created a community for me.”
“We have a garden walk in the neighborhood, and I’ve come to know other neighbors and gardeners that I wouldn’t otherwise know. And, of course, there’s Marisa’s staff and Marisa, as well,” Golightly said.
One of the first plots that Mender-Franklin worked on came with no water source, she said. She offered to pay the homeowner next door to run a water line over from his faucet, and he, a gardener, set it up for her.
“People like to help make dreams come true. It’s that feeling of connection that we all really need,” she said. “So often when we talk about community, we view it in terms of helping other people. And we forget that being part of an equal community means that you also have to ask for help.”
To give back, Mender-Franklin launched the Flowers for Good program, which donates flowers to local organizations, schools and charities. Her shop has a free seed library for vegetables and native wildflowers.
“It’s such a gift to the community to have their land turned into a farm,” said Nixon. “And all the pollinators, birds and wildlife change the area.”
“It’s also a lot of work,” she added.
Mender-Franklin knows that to be true. “We run on community,” she said. “Well, community and LaCroix and an unhinged belief in our ability to figure it out.”
How you can start a land-sharing network
If your flowers or vegetables are in search of a garden, these online resources can help:
Regional and local gardening groups and buy-nothing groups on social media can link neighbors willing to share tools, harvests or garden beds.
Matchmaking services such as Shared Earth and My Gardens Spot connect those seeking land on which to farm or garden with landowners seeking to share property.
___
Kristin M. Hall contributed to this story from Memphis, Tennessee.
___
Jessica Damiano writes weekly gardening columns for The Associated Press. She publishes the Weekly Dirt Newsletter. Sign up here for weekly gardening tips and advice.
This story was originally featured on Fortune.com
One guinea pig helped her son heal. Now she has to feed 400 every day, running America’s biggest Guinea Pig Sanctuary
Kimie Smothermon begins each day greeted by the squeals, chirps and purrs of nearly 400 guinea pigs.
Depending on who you ask, tending to the daily barrage of guinea pig needs can be either a fairy tale or a horror show. For Smothermon, it’s often a mix of both.
“If I could figure out how to get out of this at this point, I probably would,” Smothermon joked. “But I do believe that to a certain extent, I probably wouldn’t get out of bed if I didn’t have this.”
Smothermon is the owner of the Guinea Pig Sanctuary, in Salisbury, Massachusetts, roughly 40 miles (64 kilometers) north of Boston. On any given day, 350 to 400 guinea pigs are housed in a modest workspace, split into cages stacked from the floor to ceiling.
The space is cramped and chaotic as volunteers and visitors squeeze past each other between the rows of cages in a converted office space. People constantly move throughout the space cleaning out cages and checking on any sick animals.
But there’s also joy. The squeals from the little piggies about to eat lettuce and other vegetation often spark laughter, while others cuddle and comfort some of the guinea pigs. Each animal has a name prominently displayed outside their cage, as volunteers tick off their personalities.
Maui is friendly and gives kisses. Gritty is older, but shy. Rio has spunk and likes to run around. They all remember the smell of their caretakers and gravitate toward their favorites.
“They’re very sensitive animals,” said Janet Woodman, a volunteer at the nonprofit. “I personally think they are probably the best therapy animal next to a horse.”
Smothermon’s operation is one of the handful of animal rescues in the U.S. devoted solely to taking in abandoned guinea pigs — filling a need as people become overwhelmed with the responsibilities required to take care of these pets. The sanctuary additionally offers boarding for guinea pigs when their owners are traveling, as well as encouraging rehoming of the animals when they can.
Measuring between 8-10 inches (20.32-25.4 centimeters) long, these small beasts originally came from South America derived from the Cavia porcellus species, according to the Smithsonian’s National Zoo. After being domesticated in 5,000 B.C., there are now 13 different breeds that are distributed as both pets and for food.
According to Smothermon, guinea pigs often need to be adopted in pairs. They’re social and can’t be kept in cages full time.
Within minutes of opening the sanctuary earlier this year, an older woman walked through the door carrying two cages needing to “surrender” her guinea pigs. The woman’s husband had become sick, she explained to Smothermon, and she couldn’t properly take care of both him and her pets.
Smothermon hugged the woman and waived the usual fee.
“I tell people, just bring them here,” she said. “If that’s what you need to do, I’ll take on the responsibility.”
Other days, Smothermon is fielding calls from across the U.S., asking if she can take 11 piggies from Illinois, seven from Texas, and 97 from New York — where nearly half are expected to have babies.
It’s a constant stress that Smothermon never imagined would consume her life. It initially began when her grandson, Alex, brought home a guinea pig. Alex had fallen into a fire as a child and experienced health problems, causing him to avoid most animals up until he was 12, when he discovered it was safe to interact with guinea pigs.
From there, Smothermon said, her family became a resource to take in abandoned guinea pigs. The family ran the rescue out of their New Hampshire house until a fatal fire burned it down in 2019. The fire resulted in the loss of Smothermon’s other grandson, two dogs and dozens of guinea pigs.
The tragedy sent Smothermon into a depression, but when her family was living out of a hotel as they looked for a new home, people still kept dropping off guinea pigs that needed help.
Seeing the need gave Smothermon and her family the focus and motivation to continue Alex’s dream, and eventually they relocated to Massachusetts.
Smothermon says the work is hard. She only gets a handful of days off a year, but the constant drumbeat of needing to take care of hundreds, if not thousands, of guinea pigs keeps her grounded.
“If I don’t get up, they don’t eat and they can die. So even though it’s not a choice, I have to,” she said.
This story was originally featured on Fortune.com
Economists Now Expect the Fed to Leave Rates Alone Through the End of 2026
The threat of another Federal Reserve rate increase is fading quickly, giving consumers some breathing room after months of uncertainty over whether borrowing costs were about to move higher again.
In a Reuters poll conducted August 12 through 17, 94 of 104 economists said they expect the Federal Reserve to leave its benchmark rate unchanged at 3.50% to 3.75% at its September meeting. Roughly 80% expect the Fed to keep rates at that level through the end of 2026.
That is a significant shift from only a few weeks ago, when persistent inflation and higher energy prices had made another rate increase look increasingly likely.
The change has come from three places at once: consumers are spending less, inflation has cooled and the labor market has weakened.
Retail sales unexpectedly fell 0.6% in July, the first decline in nine months. Consumer inflation rose only 0.1% for the month, while the unemployment picture deteriorated enough to make another rate increase harder to justify.
Markets have reacted accordingly.
Traders now put the probability of a September rate increase at roughly 31%, down from about 55% only a week earlier. That does not mean a hike is impossible. It means investors increasingly believe the Fed can afford to wait.
For households, that distinction matters.
The federal funds rate does not directly set the interest rate on a mortgage, credit card or auto loan, but it sits near the center of the borrowing-cost system. When the Fed raises rates, variable-rate debt generally becomes more expensive and banks tend to demand higher returns on new lending.
Another pause would therefore remove one immediate source of pressure.
Credit-card borrowers are among the most exposed. Most card rates are variable and closely linked to the prime rate, meaning another Fed increase can work its way into monthly interest charges relatively quickly.
The same applies to many home-equity lines of credit and other variable-rate loans.
Auto loans and mortgages work differently. Their rates are influenced by broader bond markets, lender competition and expectations about future Fed policy, so a Fed pause does not automatically produce cheaper financing the following morning.
That is already visible in mortgages.
Long-term Treasury yields remain elevated even as expectations for a September Fed increase have fallen. Investors remain concerned about inflation, government borrowing and the amount of debt hitting the market, meaning consumers should not assume that a Fed pause will suddenly restore the low mortgage rates of several years ago.
In other words, “no hike” and “lower rates” are not the same thing.
The Fed itself remains divided.
At its July meeting, policymakers voted to keep rates unchanged at 3.50% to 3.75%, but three officials dissented and wanted a quarter-point increase. Several policymakers continue to argue that inflation remains too far above the central bank’s 2% target to declare victory.
Inflation is still running above target, and elevated energy costs have left policymakers with little room to become complacent.
That makes the next several economic reports unusually important.
The Fed will see another employment report and additional inflation data before its September meeting. A sudden rebound in hiring or renewed acceleration in prices could reopen the case for another increase.
But the burden of proof has changed.
Only weeks ago, the question was whether the Fed would need to raise rates again to control inflation. The emerging consensus among economists is now that the central bank may be able to sit still for the rest of the year and let its existing rate level do the work.
For consumers carrying debt, that does not make borrowing cheap.
It does mean the cost of borrowing may finally stop getting worse.
JBizNews Desk | Washington
© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.
The most important AI habit I have is making one phone call a day
Once a day now, I force myself to make an old-fashioned phone call.
Not a Zoom. Not a Teams meeting. Not a recorded conversation with an AI notetaker quietly humming in the background.
Just a phone call.
I do it because afterward I have to reconstruct the conversation from memory. I have to remember what was said, identify the themes, connect the dots, and then summarize it for my AI agents. In other words, I make myself do the work first. The technology comes second.
It’s a small habit, but one I’ve adopted because I’m thinking a lot about the doom-and-hype cycle we’re in with AI. Every conversation seems to swing between extremes. AI is either the second coming of the Industrial Revolution—unlocking unprecedented productivity and entirely new industries—or it’s about to eliminate every job, drain our resources, and leave us hiding on remote ranches while robot towers patrol the horizon.
The truth, as it usually is, is somewhere in the middle.
Oddly enough, I’ve been thinking about all of this through the lens of a novel I just finished, Yesteryear.
The book follows a social-media “trad wife” who suddenly wakes up in 1855 and has to become a real one. What struck me wasn’t the time travel. It was the way the novel exposes our tendency toward extremes.
It presents two narratives for a woman’s life. Devote yourself entirely to your family and lose yourself in the process. Or climb the corporate ladder, answer to men in power, sacrifice everything for your career, and end up just as depleted.
As the CEO of a company—and the mother of seven—I know firsthand that neither story has to be true.
Ironically, it was my 19-year-old daughter, Sofia, who urged me to read the book. We came away with the same conclusion: there has to be a middle path.
You can see her generation searching for one.
If my generation graduated hoping for internships at Merrill, McKinsey or Morgan Stanley,, hers is starting businesses that pressure-wash garbage cans. The start-up ideas they come up with are rarely glamorous. But that’s the point. They’re optimizing for autonomy—for control over their schedules, their work, and their lives. I sometimes wonder whether it was our obsession with extremes that pushed them toward the middle.
A few weeks ago, Fortune published two essays from the two of us, side by side. We wrote them independently and didn’t read each other’s until they were finished.
Mine was titled, “Three Times the CEO I Was a Year Ago.” Hers: “I Don’t Want AI to Think for Me.” She was deeply skeptical of AI. I was unabashedly optimistic.
In the weeks since our essays ran, I found myself thinking less about what AI will do to the economy and more about what it might do to me.
What parts of my own thinking am I outsourcing?
What skills, painstakingly developed over decades, could quietly begin to atrophy?
For me, the answer is listening.
Throughout my career, my greatest advantage has never been that I took the best notes. It was that I listened deeply enough to synthesize ideas in real time—to hear patterns, connect concepts, and ask the next question.
Today, every meeting can be recorded. Every conversation can be transcribed, summarized, analyzed, and critiqued by AI.
The temptation is to stop paying full attention because the machine is.
That’s the habit I’m trying to resist.
So once a day, I go analog.
I make a phone call that isn’t recorded. Then I force myself to reconstruct it afterward before I ever ask AI for help. I’m the one who has to remember. I’m the one who has to summarize. I’m the one who has to explain the through-line.
Only then do I hand it over to my agents.
It’s my way of exercising a cognitive muscle I don’t want to lose.
Because the most human part of listening isn’t transcription. It’s noticing. It’s sensing hesitation. It’s recognizing what wasn’t said. It’s connecting ideas before anyone else sees the pattern.
If we all stop participating because AI will “catch us up later,” who is actually left in the conversation?
Perhaps that’s the middle path AI is asking us to find.
Not rejecting the technology.
Not surrendering to it.
But using it in ways that make our own thinking stronger instead of weaker.
The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune.
This story was originally featured on Fortune.com
210 interns. 115,000 applicants. Here’s what Citadel Securities’ 0.18% actually have in common
AI is transforming how work gets done, automating or accelerating many of the tasks that have long defined the early years of a professional’s career. That shift is playing out across even the most technologically advanced industries, including ours.
It raises questions every employer should be asking: what will we expect from early-career talent, and what will they expect from us?
At Citadel Securities, our answer starts with how we already work. From day one, we ask new colleagues to own hard problems, form a view, and drive it – not to shadow, not to wait their turn. AI amplifies that model. It clears away the mechanical parts of the job and puts more of the interesting work – judgment, ownership, building – into the hands of the people just starting out.
That’s why what increasingly separates the 0.18% who get an offer from everyone else isn’t coding ability, or GPA, or which quant competitions they’ve won. It’s something AI can’t replicate, but something AI can accelerate – building.
Builders are people who identify problems no one assigned them to solve, organize people and ideas around solutions, and take responsibility for making things happen. Those qualities have always mattered – and in the age of AI, they’re becoming even more important, particularly for new graduates.
Of course, technical excellence still matters. Our work depends on outstanding engineers, quantitative researchers, and traders. But as AI becomes increasingly capable, technical expertise alone is no longer enough to stand out. Employers are now evaluating early-career candidates the way they have long evaluated leaders: based on curiosity, problem-solving ability, communication skills, and the initiative to build.
So how should students prepare for this new environment?
Build something.
The specific pursuit matters less than the fact that you chose it yourself. Build a business. Create an app. Launch a campus organization. Organize a community initiative. Pursue original research. Turn a hobby into something bigger. The common thread is self-direction.
Projects like these teach lessons that classroom assignments rarely can – they require you to navigate ambiguity and persist without someone else defining every step. Those experiences build judgment, resilience, and confidence.
Pursue mastery.
The strongest candidates aren’t the ones with the longest list of activities. They’re the ones with genuine passion who go deep because they cared enough to keep improving.
Employers notice people who have challenged themselves, overcome setbacks, and demonstrated the discipline to keep learning and improving over time.
Use the tools.
Use AI tools every day – just as much in your extracurricular pursuits as your core classroom work. The goal is not simply proficiency with AI. The goal is to use it to create, experiment, and solve problems on a scale that simply wasn’t possible before.
In doing so, you will develop the judgment to know when to rely on AI tools, when they will fall short, and how to combine these capabilities with your own thinking to produce better outcomes – qualities employers will increasingly look for as they recruit new talent.
That’s why I believe we are entering the golden age of builders.
As AI takes on more routine work, talented people will have more leverage than ever before. They’ll be able to test ideas faster, solve larger problems earlier in their careers, and create meaningful impact with fewer barriers to getting started. That means more interesting work from the outset, a shorter path from idea to implementation, and earlier opportunities to lead.
That’s what makes this moment so exciting. Every industrial revolution has reshaped the workforce while also creating entirely new opportunities for those willing to adapt. The professionals who succeed in this environment will be the builders – and their advantage will only grow.
Builders have always stood out. Today, AI is giving more people, earlier in their careers, the opportunity to become one.
The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune.
This story was originally featured on Fortune.com
Tehran readies to crush renewed unrest, risking war to maintain control in Strait of Hormuz
Tehran has already begun positioning itself to suppress potential domestic unrest and weather the prolonged economic hardship that could result from an extended US blockade or a return to more active conflict with the US, according to international experts. At the same time, reports indicate that Tehran remains open to negotiations, provided any agreement meets all of its demands, including leaving the Strait of Hormuz under Iranian control.
The Institute for the Study of War assessed that hardliners within Iran’s Supreme National Security Council could support a deal with the US, provided it meets Tehran’s terms, notably including continued Iranian control over the vital waterway. The assessment was based on an Axios report, later confirmed by a spokesperson for the Iraqi Kurdistan presidency to Iran International, that IRGC Commander Ahmad Vahidi had maintained indirect contact with the US and preferred to resolve the conflict through negotiations.
Despite this preference, a senior Iranian official told Reuters on Monday that Iran would shift to a “fully offensive” posture after Washington ruled out extending a temporary ceasefire agreement.
“Iranian entities must be prepared to escalate tensions in the Strait of Hormuz and wider region, as Iran will be ready to make decisions and take action on difficult decisions,” the Iranian official said, adding that Tehran would conduct a “timely and precise” military attack to break the US naval blockade if diplomacy failed.
IRGC unlikely to support deal that cedes control of Hormuz
The continued attacks on vessels crossing the Strait of Hormuz without coordinating with Iran’s Persian Gulf Strait Authority suggest that Vahidi would be unlikely to accept an agreement that did not leave the waterway under Iranian control, the institute assessed.
Notably, the memorandum of understanding signed between the US and Iran, which included a 60-day window that expired on Monday, required under its fifth clause that Iran allow safe and free passage for commercial vessels through the Strait of Hormuz during that period. Tehran interpreted the provision as leaving Hormuz under Iranian control, which largely contributed to the agreement’s collapse, and the dispute over control of the waterway ultimately contributed to the renewal of a US blockade that has further strained Iran’s already struggling economy.
Although the economic crisis had already triggered protests in December, which escalated in January into widespread calls to end the Islamic regime’s rule, the institute assessed that Vahidi’s hardline faction was willing to accept the financial consequences of a prolonged blockade, as well as regional instability and domestic unrest.
Human rights organizations reported that upwards of 30,000 people were killed by regime security forces during the January demonstrations, while thousands were arbitrarily detained. The Islamic regime has also continued to execute individuals accused of participating in what it described as foreign-backed riots. Iran’s months-long internet blackout, which further damaged the country’s economy, also made it difficult for international rights groups to monitor the situation, UN officials acknowledged at the time.
Iran’s year-on-year inflation rate remains above 80%, ISNA reported on Saturday. Mehdi Pirsalehi, head of the country’s Food and Drug Administration, said on Sunday that around two-thirds of medicines in Iran had increased in price because of difficulties accessing raw materials and the higher cost of transporting them by air rather than sea. Numerous reports from Iranian diaspora and domestic media have also pointed to a cost of living crisis leaving Iranians unable to afford basic goods and services and the Islamic Republic failing to pay out social welfare benefits.
Iranian First Vice President Mohammad Reza Aref separately said on Sunday that the Islamic Republic needs to confront US economic pressure through proper planning and policies, calling on Tehran to prepare for “worst-case scenarios,” which the institute suggested referenced a return to demonstrations.
Acknowledging that it remains unclear whether Vahidi would make concessions in exchange for economic relief to avoid such a situation, the institute noted that he may instead prefer to further securitize Iranian society and continue investing in land-based shipment routes, despite officials warning that they cannot replace maritime transportation.
Tehran is preparing to resume its suppression of dissent
Roger Macmillan, a security analyst and former director at Iran International, noted that the regime recently appointed Hossein Taeb as commander of the Basij paramilitary force. Taeb previously headed the IRGC’s Intelligence Organization.
Taeb was known for his role in crushing the 2009 demonstrations that erupted after a disputed presidential election. Thousands were arbitrarily arrested, dozens were killed on the streets or in detention, and many protesters reported being tortured, according to human rights organizations.
Like many analysts, Macmillan interpreted Taeb’s appointment as a sign that Tehran is preparing to resume its suppression of dissent.
“Vahidi does not have to choose between holding the line against Washington and crushing dissent at home,” he told The Jerusalem Post. “You need to watch the sequence… This has run before: protests will develop, state media brands protesters ‘rioters’ and ‘terrorists,’ the internet goes dark, mass arrests follow, the judiciary declares zero leniency, and executions are used explicitly to restore fear as deterrence.”
Earlier this week, a high-profile student at Sharif University of Technology was expelled for allegedly hanging a mouse doll from a tree during protests, a reference to the mocking nickname “Moush-Ali,” or “Mouse Ali,” used for then-Supreme Leader Ayatollah Ali Khamenei.
Likewise, the Iranian legal network Dadbaan reported that authorities closed a number of coffee shops and restaurants after accusing them of allowing “gambling, norm-breaking, promoting corruption, and failing to observe Islamic norms,” according to the office of the Public and Revolutionary Prosecutor of Qaenat. The network also reported that women were being denied access to public services for failing to wear the hijab, while the Sunday Times reported that Iran’s morality police were resuming patrols.
Macmillan noted that the stalling of oil exports, along with the Central Bank of Iran’s issuance of the country’s largest banknote in history, were signs that the pause in intense strikes on Iran had not allowed the regime to recover.
“It is running out of road, and it knows it. Every week without a settlement pushes Iranian households closer to the conditions that produced the January uprising. And every week, Vahidi’s newly reshuffled command structure gets more ready to meet them,” he continued. “They have been emboldened by the apparent failure of the US/Israeli bombing campaign to reduce and remove their capability to produce drones [and] there have been reports that they are back to their pre-war stock levels… So they are ready to resume [fighting].”
Macmillan said Tehran was preparing for a prolonged conflict, believing that US President Donald Trump’s low approval rating, interceptor shortages and the approaching midterm elections could give Iran an advantage.
Who are the Likud ministers, MKs unlikely to make it into 26th Knesset? – explainer
Likud published its full primary list for the 26th Knesset elections, scheduled for October 27, on Tuesday, with several ministers and current MKs placed in unsafe, borderline, and unrealistic positions in the hierarchy.
Likud is currently projected to receive between 20-25 seats in the Knesset based on polls published in the first two weeks of August. The party held 36 seats in the 25th Knesset, dissolved in July, including four MKs who were elected under Foreign Minister Gideon Sa’ar’s New Hope-United Right party.
Economy and Industry Minister Nir Barkat, who has been critical of Prime Minister Benjamin Netanyahu’s leadership, ranked 24th, after reserved places on the list are taken into account. Barkat, however, may fall victim to Netanyahu’s authority to swap candidates against reserved slots, which allows the PM to potentially push rivals, including Barkat, down the list.
Barkat hired private investigators to attend primary election locations to monitor suspected voter fraud, sources familiar with the matter told Walla on Monday.
Innovation, Science, and Technology Minister Gila Gamliel placed 25th on the list. Gamliel is therefore the third-highest-ranking woman on the list, after Transportation Minister Miri Regev and MK Tally Gotliv.
Gotliv, a firebrand reportedly targeted by pro-Netanyahu factions hoping to push her down the list, placed 20th, making it likely she will be re-elected, but she is not in as safe a position as she may have hoped. Regev placed 8th and is, therefore, almost guaranteed a spot in the next Knesset.
Three current ministers finish below 35th on Likud primaries list
Agriculture and Food Security Minister Avi Dichter, Environmental Protection Minister Idit Silman, and Women’s Advancement and Social Equality Minister May Golan all finished outside the top 35 places, once reserved spots are accounted for.
Pressure is growing among senior Likud officials on Netanyahu to use the “swap” provision approved before the primaries to move Dichter into a realistic position on the party slate. This message is now being conveyed to Netanyahu primarily because of Dichter’s status as a former Shin Bet (Israel Security Agency) chief and concerns that Likud could enter the election without a senior security figure in a realistic position.
Dichter was pushed outside the realistic range in the primaries, and the result has raised concern among senior Likud officials. Following the retirement of Yoav Gallant, Dichter is considered the most prominent security figure among the party’s senior members, and Likud officials believe his presence on the slate has electoral importance in an election campaign in which security issues are expected to play a central role.
Additionally, MK David Bitan has been placed 22nd on the list. Bitan, one of Netanyahu’s main opponents from within Likud during the 25th Knesset, is therefore also borderline for re-election, but still in a strong enough position to remain an MK, despite efforts to remove him politically.
Foreign Affairs and Defense Committee Chair MK Boaz Bismuth placed 23rd, placing them in a borderline position for the upcoming election based on current polling.
MK Ze’ev Elkin placed 32nd, and Avichay Boaron placed 35th, making their likelihood of entering the Knesset tenuous.
Nine other current MKs placed below 35th on the list, making it highly unlikely that they will be re-elected. These are: Hanoch Milwidsky, Nissim Vaturi, Shalom Danino, Eli Dalal, Keti Shirit, Ariel Kallner, Eti Atiah, Osher Shekalim, and Sasson Guetta.
Likud satisfied with primaries result, party says
Meanwhile, Likud said that Netanyahu was “very satisfied” with the results and that the party will claim a “big victory” in the elections.
“This is the only way to prevent a leftist government of [Gadi] Eisenkot, Yair Golan, [Avigdor] Liberman, and the Arab parties,” Likud added.
The primaries turnout reached 53.5%, with 75,177 members voting at 501 polling stations across 107 locations.
Some senior party officials reportedly expected a higher turnout due to the significance of the limited number of realistic places in the upcoming election.
Anna Barsky and Liat Ron contributed to this report.
Supreme Court rejects Verizon effort to get $46.9M FCC fine refund in location data case
The Supreme Court has denied Verizon’s request for rehearing in its fight over a $46.9 million Federal Communications Commission penalty tied to the telecom giant’s former customer location data program.
The justices denied the petition Monday without explanation, leaving the court’s earlier judgment against Verizon in place, according to the court’s Aug. 17 order list.
The denial closes off Verizon’s effort to alter the disposition of a June Supreme Court ruling that upheld the FCC’s forfeiture process against a Seventh Amendment challenge.
The court found that an FCC penalty order does not automatically force a company to pay. If a company refuses, the government must go to federal court to collect, where the company can fully challenge the case before a judge or jury.
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In that June 4 ruling, the Supreme Court left the lower court’s decision against Verizon in place but sent AT&T’s separate case back to the Fifth Circuit for further review. That difference in how the two cases were resolved became central to Verizon’s rehearing request.
The FCC imposed the nearly $47 million forfeiture in 2024 after finding that Verizon failed to adequately protect customer location information made available through a program involving third-party location service providers.
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Verizon paid the penalty under protest and challenged the FCC’s order in federal court. The Second Circuit rejected the company’s challenge last year, including its argument that the device-location information at issue fell outside the customer-information protections of Section 222 of the Communications Act.
In its rehearing petition, Verizon argued that the FCC’s forfeiture order appeared to impose an immediate obligation to pay within 30 days, while the government later maintained before the Supreme Court that carriers could decline to pay and instead await enforcement action.
The Supreme Court’s June opinion did not decide whether the carriers had been misled into paying or whether a refund could be appropriate. The justices said they expressed no view on the merits of that argument, what relief might be available or in what proceeding.
Verizon then asked the Supreme Court to send the case back to the Second Circuit so the appeals court could consider whether the company had been misled into paying the penalty and whether it should receive a refund.
The Supreme Court’s denial Monday leaves the Second Circuit judgment affirmed and Verizon’s requested remand off the table.
FOX Business reached out to Verizon and the FCC for comment.
The broader dispute over the FCC’s authority remains active. T-Mobile and Sprint have separately asked the Supreme Court to review their own location data penalties, challenging, among other issues, whether the location information at issue falls within the Communications Act’s definition of protected customer proprietary network information.
Their petition was filed June 22 and remains pending.
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The continuing litigation could have implications for how the FCC applies federal customer data protections and structures large civil forfeitures against telecommunications companies.
This post was originally published here
Mark Walter looking to unload Chelsea stakes days after selling Lakers to Josh Kushner, Bob Iger: report
Mark Walter, who already sold his majority stake in the Los Angeles Lakers just one year after purchasing the NBA team, might be selling off yet another sports asset.
Walter and business partner Todd Boehly are reportedly looking to sell their stakes in Chelsea Football Club of the English Premier League, according to the Financial Times.
Walter and Boehly are hoping to sell their stakes to Clearlake Capital, the majority owner of one of the most popular soccer teams in the entire world.
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Clearlake Capital reportedly has had some friction with the two minority stakeholders after they purchased a piece of the club four years ago. The outlet reported there have been negotiation talks for years between both sides, but no deal was made.
Walter and Boehly bought stakes in Chelsea in May 2022, as BlueCo, a consortium run by Boehly, and Clearlake Capital bought the club from Roman Abramovich.
BUSS FAMILY AGREES TO SELL REMAINING LAKERS OWNERSHIP STAKE TO JOSH KUSNER, BOB IGER GROUP
The news is quite interesting, though, as Walter agreed to sell the Lakers to Josh Kushner and Bob Iger for a record $12.5 billion after just purchasing the ownership stake from the Buss family for $10 billion last year.
In June 2025, the Buss family decided to sell the Lakers to Walter for $10 billion. There was, however, some in the Buss family who felt misled by Jeanie Buss in what they characterized as a rushed sale, per ESPN. They felt pressured to vote for the sale to go through.
In the end, all six siblings said “yes” to the sale, which closed in October 2025. The sale gave each sibling $500 million post-tax. After the sale to Walter, Buss was allowed to remain the governor of the Lakers given the 17.8% ownership stake still intact.
Word came out Monday that the Buss family is now looking to tack onto the deal with Kushner and Iger to sell their remaining shares in the NBA team, which would give the new ownership group a whopping 83% majority in one of the most iconic basketball franchises in the world. However, new reports indicate Jeanie was the only sibling that did not wish to relinquish ownership, and will be fighting the decision made, per multiple outlets.
Walter’s surprise sale of the Lakers comes amid a federal investigation into the Guggenheim Partners CEO. It was reported that the FBI recently seized Walter’s phone and laptop, as well as a high-ranking Guggenheim Investments executive’s this past year.
Some are viewing the Lakers’ sale as a quick way to liquify assets for Walter with potential legal problems ahead, and now Chelsea could be yet another way to do so.
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Chelsea was sold to the group for a total 2.5 billion pounds back in 2022. An extra 1.75 billion pounds was committed for future investment in the signature Stamford Bridge stadium, the Chelsea academy, the women’s team and the Chelsea Foundation.
The current valuation of Chelsea is estimated to be around 5 billion pounds.
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‘Only idiot startup founders stay in Cali’: Mark Cuban rips billionaire tax—and opens a rift inside the Democratic Party
Billionaire entrepreneur Mark Cuban didn’t hold back in a public squabble with Rep. Ro Khanna about the proposed wealth taxes in California—cracking open a feud between one of the wealthiest Democratic Party supporters and the left wing of the party. The two sparred over a proposed wealth tax that would ask the state’s richest residents to hand over billions of dollars to fund healthcare and other public programs.
Cuban, long a self-identified “libertarian-at-heart,” has been more closely affiliated with Democrats in recent years, as a high-profile surrogate for Kamala Harris in the 2024 presidential race and endorsing Hillary Clinton in 2016. However, the born-and-raised Pittsburgh native turned adoptive Texan has always remained staunch on his stance on wealth taxes — against.
Cuban has remained one of the wealthy’s largest advocates against taxes on wealth, specifically on unrealized gains. For instance, in response to a 2021 ProPublica investigation on the ultrawealthy avoiding or lowering their tax liability, Cuban said “it makes for great headlines… but they’re not being honest about the whole thing.”
Over the weekend, Cuban got into it with Khanna as the representative promoted his signature policy, Proposition 40, a ballot measure that would impose a one-time tax of up to 5% on the covered assets of people and trusts with more than $1 billion. The measure is scheduled to go before California voters in November.
“The California Democratic Party and the California Labor Movement just stood with Bernie Sanders and me in supporting a five percent wealth tax on 250 California billionaires,” Khanna said in a video posted on X. “Passing this ballot initiative will ensure that millions of working-class and middle-class Californians don’t lose their health care.”
But Khanna’s post ignited a seven-part back-and-forth between Cuban and Khanna, turning into a debate over whether California’s billionaire tax will drive entrepreneurs out of the state.
Cuban argued that the proposal misunderstands how startup wealth works. Many entrepreneurs may look like billionaires on paper due to their company valuations, but have relatively little cash available to pay a tax based on their net worth. Cuban warned that imposing the tax would encourage founders and investors to leave California.
“A unique feature of these 10b startups is that even if they raise a billion, little, if any of that money goes to the founders, who are now worth billions of dollars overnight,” wrote Cuban on X. “They are the definition of cash poor, stock rich.”
The issue is particularly relevant in California, which is home to hundreds of billionaires and the headquarters of the venture capital company, where many built their fortunes through technology companies. The state’s Legislative Analyst’s Office notes that billionaire wealth can consist of stocks, businesses and other investments rather than cash, making a wealth tax fundamentally different from an income tax.
Cuban questioned how founders could really come up with potentially hundreds of millions of dollars to pay the tax without selling, taking money out of their growing companies, or even selling stakes.
“How are you going to tax them?” Cuban asked, seemingly hypothetically. “Make them borrow money against their shares, if they can?”
The prominent investor warned that if the measure passes, he himself would avoid investing in California startups completely unless they move out of state. “If this passes, only idiot startup founders stay in Cali,” Cuban wrote. “I’ve done it before and will do it again. Dallas. Pittsburgh. Indiana. I will make NOT being in California a prerequisite for an investment.”
Khanna responded with a proposal under which founders could pledge their shares to the state and receive a government loan to pay the tax. The loan would be non-recourse, meaning the founder would not be liable if the company ultimately fails, and the loan could run for a limited period such as 10 years.
At the end of the loan period, Khanna said, the founder would either repay the loan in cash or the government would assume the pledged shares.
Cuban was unimpressed. “Ro, that’s insane,” he wrote.
This proposal would essentially mean California lending money to founders so the founders can immediately hand that money back to the state, he pointed out. If the founder can’t repay in this scenario, he reasoned, the state could ultimately become a shareholder in a private company, “and I’m sure the investors in those companies will be thrilled about their new partners,” he added sarcastically..
Khanna argued that most billionaires would not face that problem. He said the private founders Cuban was describing represent a narrower category of “true paper billionaires with illiquid assets.” In those cases, he said, the government could benefit if the company succeeds.
“The government would still collect from the vast majority of billionaires who are not illiquid,” Khanna wrote, “72 percent of their wealth is in public stock.”
California’s Proposition 40 is expected to generate tens of billions of dollars over several years, according to the Legislative Analyst’s Office. Ninety percent of the revenue would be dedicated to healthcare, with the remainder going toward food assistance and education-related programs. But this has already caused billionaires to threaten to leave and even fight the proposal. Six total billionaires have already uprooted their status as California residents ahead of the January 1st deadline.
And this is not the first time Khanna had entered a public feud with a notable wealthy figure over the proposal. Palmer Luckey, co-founder of Anduril Industries, entered a similar grudge-match with the congressman on X surrounding the same proposed wealth tax.
Khanna challenged Cuban to consider the issue from the perspective of ordinary Californians, asking the billionaire personality to travel around California, Pennsylvania and other parts of the country with him and ask the Americans what they think about a billionaire tax.
“Most say, I promise you, why only 5 percent?” Khanna wrote.
But Cuban rejects the notion. In a profanity-induced post on X, he wrote “this is the biggest f*** you in the history of entrepreneurship. Ever.” (Fortune has edited his profanity for posterity.)
“There is a huge difference between someone with liquidity, running a huge public company, and someone who has dedicated every minute of who knows how many years, to building a company, to finally have a dream financing come true, only to be insulted by a politician,” he continued. “‘We will sell your shares for you.’ GTFO.”
This story was originally featured on Fortune.com
Financial adulthood has moved to the 30s: ‘the decade when people come to terms with where they are in life’
For most of American history, financial adulthood arrived with a recognizable set of keys: the house keys, the car keys, the filing cabinet where you kept the insurance paperwork. The timing was fairly predictable—late 20s, early 30s at the outside. Then it took a while longer to get the keys.
A new survey from fintech company Chime, which commissioned a poll of 3,000 U.S. adults as part of its Millennial Money Report, suggests the answer is yes, in a specific and measurable way. Eighty-four percent of millennials say their 30s triggered a fundamental shift in how they think about money: what success means, how to measure it, and whether the old benchmarks still apply. The mindset recalibration that used to accompany the first mortgage and the first kid now arrives on its own schedule, decoupled from the milestones that used to produce it automatically.
“Eighty-four percent of millennials said that their 30s prompted a reevaluation of objectives and goals,” Aaron Terrazas, an independent economist who led the survey, told Fortune.
The report spans 2,000 nationally representative millennials, divided into three equally sized cohorts — elder, core and younger — with comparison samples of 500 Gen X and 500 Baby Boomers. Terrazas described the split within the millennial generation itself as one of the sharpest findings. Both ends of the generation are technically the same generation. But on nearly every financial attitude measured, they behave like different ones.
The fault line runs through 2008
Millennials born before 1991 came of age directly into the financial crisis and those born after watched it happen as kids. The divergence in outcomes is visible in the data, according to Terrazas and the Chime study.
Older millennials are far more likely to have taken on extra income out of pure survival instinct—42% of elder millennials say a single paycheck simply wasn’t enough, compared to 31% of younger ones. About one-third of what the report calls “post-1991 millennials” lean into “peer solidarity,” the study says, finding they say they feel about the same as everyone, but only 23% of their recession-scarred older counterparts feel that way.
Core millennials, born from 1987 through 1991, sit at the hinge. Too young to have entered the workforce at the crash’s trough, they nonetheless came of age during the long, grinding recovery — then hit parenthood, mortgage decisions and peak career years just as the pandemic and rising interest rates arrived. They are the generation for whom the old sequence of education, advancement and homeownership may have still looked plausible, until it didn’t.
Younger millennials, born from 1992 through 1996, are more likely to describe renting as freedom — 31% compared with 24% of elder millennials — and more likely to retain faith in the traditional career ladder, at 27%. But they are also the most likely cohort to report that a job loss or debt reality check triggered their financial mindset shift in their 30s: 33%, compared with 24% of elder millennials. The optimism is real. So is the math.
Census Bureau and CDC data on delayed marriage and first births similarly reframe a single generational story is, on close examination, two overlapping financial cultures split by a crisis. Median age at first marriage has risen steadily, now over 30 for men and 28 for women, up from the early 20s in 1975, according to the most recent Census data. First births show a parallel, if not identical, postponement: The mean age of first-time mothers rose from 26.6 in 2016 to 27.5 in 2023, per the CDC. That widening interval between adulthood’s traditional milestones—school, work, housing, marriage and children—has become one of the clearest measures of how financial insecurity is reshaping family formation.
On the housing front, Harvard Joint Center for Housing Studies has documented how sharply the cost-burden of housing has risen, finding a record high of cost-burdened renter households in 2024. Total U.S. household debt reached $18.8 trillion as of the most recent New York Fed data, with mortgage debt at $13.1 trillion, auto loans at $1.7 trillion, and credit card balances at $1.26 trillion.
The first-time homebuyer median age has also risen, to the remarkable number of 40 years old as of 2025, per National Association of Realtors data—while first-time buyers accounted for just 21% of purchases, the lowest share in the survey’s history. Buyers increasingly rely not only on savings but on retirement assets and help from family or friends to make a down payment. Fortune has previously reported younger millennials trying to save for a home disproportionately cite student loans, high rent and credit-card debt as obstacles—a three-way squeeze that many older millennials were able to navigate before housing costs and borrowing rates rose further.
The counterintuitive part
What makes the Chime survey surprising is what it says about where the delay actually leads. Forty-nine percent of millennials say they’re better off financially than they were five years ago—more than Gen X (43%) or baby boomers (40%). Thirty percent describe themselves as financially successful by their own definition, a modest but real edge over both older generations (25.8% for Gen X and 26.6% for baby boomers). Only 14% flatly say they are not financially successful, compared with 24% of Gen X and 26% of boomers.
“The surprise in this report,” as the Chime authors put it, “isn’t the math. It’s that most of them don’t quite believe it yet.” These findings align with consumer confidence data from the Conference Board, which found earlier this month that baby boomers and Gen Xers are far more miserable about the economy than younger generations.

That dissonance runs just below the surface. Forty-one percent of millennials say their financial reality frequently fails to match how their life appears to others—the highest of any generation. The two most common words millennials volunteer to describe their current financial situation are “behind” and “overwhelmed” (both at 20%), though “cautiously optimistic” runs close behind at 19%. The gap lives almost entirely in backward comparison: 24% say they’re behind where their parents were at their age, while just 14% say they’re ahead. When measured against their peers, the largest group says they’re doing about the same, which suggests the anxiety is not about actual standing but about a template that no longer fits.
The 30s are where the template breaks. Terrazas pointed to an unpublished cross-tab from the survey he found revealing: The share of millennials who said they had stopped comparing themselves with others rose from about 9% among the youngest cohort to 15% among core millennials and 17% among the oldest.
“This is the decade when people come to terms with where they are in life,” he said.
A different definition of winning
Part of what changes is the definition of success itself. Asked to name their top marker of financial achievement, 39% of millennials chose “supporting loved ones”—ahead of homeownership (32%). For baby boomers, the top answers are growing investments (33%) and a fully funded emergency fund (32%): private accumulation, essentially.
The one aspiration that hasn’t moved is homeownership. Millennials still rank it as the single biggest status symbol among people their age (40%), well ahead of work flexibility or a nice car (both 26%). Only 14% say they never wanted to own a home—lower than Gen X (24%) or baby boomers (19%). Terrazas sees no near-term relief.
“I don’t think millennials should reasonably expect easing housing pressure” even as they move into their 40s, he said. The oldest baby boomers turn 80 this year, and won’t typically start downsizing until their mid-80s, meaning the inventory constraints that have locked millennials out of the market have another decade to run.
The soup, not the salad
Asked for a simple explanation, Terrazas resisted.
“The explanations are more soup than salad,” he said. “You can’t disentangle the specific pieces. They all kind of blend together.”
Higher long-term interest rates, a changing labor market, the pandemic’s disruption of early career formation, the demographic drag of a graying population—each is real, none is sufficient alone. What is consistent across all of them, he said, is the external triggers that used to produce financial adulthood—a first mortgage, a first child, navigating your family’s health insurance for the first time—now arrive later, and the internal shift follows.
“It’s not just those experiences,” he said. “It’s how you had to navigate health care for a newborn or pediatric care,” or learn to do your own taxes, deal with your mortgage. “There are these two sources that shape our views: formative experiences and our stage of life.”
Thirty percent of millennials say they’re financially successful by their own definition. Twenty-four percent say they’re behind where their parents were. Both numbers are true at the same time, which is perhaps the most accurate summary of where this generation actually stands: rewriting the scorecard mid-game, not quite sure yet whether they’re winning by the new rules, and not fully convinced the old ones are gone.
For this story, Fortune journalists used generative AI as a research tool. An editor verified the accuracy of the information before publishing.
This story was originally featured on Fortune.com
OpenAI builds dedicated ChatGPT experience for teens with parental controls and study features
ChatGPT-maker OpenAI on Tuesday announced that it’s creating a new portal for teenagers between the ages of 13 and 17 as it looks to address concerns about online safety for young people.
The company made the announcement exclusively on-air with Fox News’ “Fox & Friends” on Tuesday morning and outlined how the platform looks to address the potential for the misuse of the platform by children.
The ChatGPT for Teens portal will serve as the default experience on the artificial intelligence (AI) chatbot for users between the ages of 13 and 17 and will come with new safeguards aimed at fostering the safe use of the platform and supporting teens’ critical thinking skills.
OpenAI said that most teen users of ChatGPT use it for homework and help with their studies, so the new platform is intended to allow for study aides without giving the answers away and was designed with Stanford University.
OPENAI UNVEILS CHATGPT WORK TO AUTOMATE WORKPLACE TASKS AS AI RACE INTENSIFIES
It will feature quizzes and responsible-homework reminders that redirect teens toward collaborative problem-solving, as well as a Study Hours feature that allows teens or parents to set Study Mode as a default during certain time periods.
The new platform includes stronger default safeguards addressing self-harm, violence, eating disorders, dangerous activities and explicit sexual or graphic content through age-appropriate interventions.
There will be teen-specific onboarding to the platform with warnings that discourage users from uploading private or sensitive images.
5 MOST EXPLOSIVE CLAIMS FROM FLORIDA’S LAWSUIT AGAINST OPENAI, SAM ALTMAN
It also looks to address parental concerns about teens forming an emotional dependency or relationship with new safeguards barring the use of language that could suggest romantic feelings, as well as claims of sentience of personal feelings by ChatGPT.
The platform will also restrict the chatbot from framing ChatGPT as being more important than family, friends, educators, mentors or other trusted people in the life of the tool’s teenage user.
The platform is also set to include default settings that provide more guardrails against the overuse of the program and healthier usage patterns.
OPENAI ROLLS OUT CHATGPT PARENTAL CONTROLS WITH HELP OF MENTAL HEALTH EXPERTS
It will have default settings that encourage users to take breaks more frequently, along with reminders about the platform’s settings for Study Hours and Quiet Hours.
Additionally, the new platform will provide the user with cues to reinforce that ChatGPT is a tool and not a person or a replacement for human relationships.
The new safeguards for OpenAI’s ChatGPT for Teens platform following incidents in which teenage users turned to the platform during mental health crises.
Ozempic Is Creating a New Food Industry — and Nestlé Wants In
Nestlé is turning one of the biggest threats facing packaged-food companies into a new business opportunity.
The company is developing foods and nutritional products specifically for people taking GLP-1 weight-loss drugs such as Ozempic, Wegovy, Mounjaro and Zepbound, using artificial intelligence and nutrition research to design products around the way those medicines are changing how millions of Americans eat.
Roughly 16 million Americans are currently taking GLP-1 drugs, according to data cited by Reuters, creating a consumer group large enough to reshape grocery shelves, restaurant menus and food-company research budgets.
At first, the rise of GLP-1 drugs looked like a direct threat to companies like Nestlé.
The medicines suppress appetite, and that means users often eat less, snack less and buy fewer high-calorie foods. Investors have worried for years that widespread adoption could permanently reduce sales of packaged meals, sweets, snacks and beverages.
Nestlé now sees another side of the equation.
People losing weight rapidly may need more protein, hydration and certain nutrients to help preserve muscle mass and maintain adequate nutrition. Nestlé says it is using AI to analyze clinical research, identify useful nutrient combinations and help reformulate products for those consumers.
That work is already influencing products across brands including Vital Proteins and Boost, with the company exploring higher-protein formulations, collagen and other targeted nutrition products.
The opportunity is potentially much larger than selling smaller frozen meals.
If GLP-1 use continues expanding, food companies could build an entirely new category around people taking weight-loss medication — much the way the industry created dedicated markets around sports nutrition, low-carbohydrate diets and plant-based foods.
But this one could be different because the behavioral change is being driven by prescription medicine rather than a temporary diet trend.
GLP-1 users have been shown to consume significantly fewer calories and spend less on groceries and fast food, forcing food companies to rethink not only ingredients but portion sizes, packaging and marketing.
Nestlé is betting that consumers who eat less may still spend more on foods they believe provide the nutrients they need.
That could shift competition away from simply selling more calories and toward selling higher-value nutrition in smaller quantities.
The company has already been adapting. Nestlé previously introduced products aimed specifically at GLP-1 users, while other food companies have added high-protein meals, smaller portions and products positioned around fiber and digestive health.
The bigger business story is that obesity drugs are no longer only disrupting pharmaceutical companies and healthcare.
They are beginning to reorganize the food industry itself.
For years, packaged-food companies made money by convincing consumers to eat more.
The next growth market may be figuring out how to profit when millions of customers are deliberately eating less.
JBizNews Desk | Vevey, Switzerland
© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.
Israel Sets Rules to Put Driverless Taxis on Roads by 2027
Israel expects to allow self-driving vehicles on public roads in the second half of 2027, after a United Nations standards body cleared the last obstacle that had kept the country’s own rules stuck in draft form for more than five years.
The holdup was never the technology. Israeli ministries had been writing autonomous-vehicle regulations since the start of the decade, but there was no agreed international standard to write them against and no settled answer on who is legally responsible when a car with no driver makes a mistake. At the end of June, the UN’s vehicle standardization body approved the first comprehensive international rulebook for fully autonomous systems, and officials at Israel’s Ministry of Transport describe it as the breakthrough that speeds everything up.
The new rulebook covers what the industry calls Level 4 autonomy — vehicles that drive themselves in a defined area with almost no human involvement. It sets a single benchmark for safety: the manufacturer must show the system drives at least as safely as a skilled human driver. It also requires a data recorder in every vehicle, continuous fault monitoring and mandatory reporting of safety incidents, and it creates a licensing path for vehicles built without a steering wheel or pedals at all.
For Israel, the practical effect is that the standard arrives ready-made. Because the country adopts European vehicle standards automatically, the Transport Ministry does not have to build its own approval regime from scratch. It gets a basis for issuing import permits for Level 4 vehicles without waiting on further legislation. What remains unresolved is insurance — it is still unclear how Israeli insurers will price or write policies for a car that drives itself.
The first vehicles on the road are unlikely to be private cars. Industry expectations point to commercial fleets running fixed, marked routes: robotaxis, autonomous cranes moving cargo at ports and dedicated bus lines. Cross Israel is already advancing a tender for a trial run of autonomous shuttles serving communities in the Golan Heights, starting with a safety driver on board and moving to no driver at all in a later phase.
For American readers, the sequence is the reverse of what has happened here. U.S. robotaxi services in cities including Phoenix, San Francisco and Austin were built city by city under state rules and company-by-company permits, with no national standard behind them. Israel is skipping that stage and importing a finished international framework, which means its rollout is likely to arrive later but on firmer legal footing — and it gives European and Israeli manufacturers a single approval to build toward rather than a patchwork.
The commercial stakes for Israeli companies are substantial. Mobileye, the Jerusalem-based self-driving unit spun out of Intel, has been supplying the technology for robotaxi programs abroad while its home market had no rules permitting the vehicles at all. A 2027 opening would let it operate on the roads where it does its engineering.
JBizNews Desk | Jerusalem
© JBizNews.com All Rights Reserved. Reproduction or distribution without written permission is prohibited.
Current price of oil as of August 18, 2026
As of 6:45 a.m. Eastern Time today, oil is trading at $92.42 per barrel, based on the Brent benchmark we’ll explain in a bit. That’s 89 cents above yesterday morning’s level and $25.68 higher than where it stood a year ago.
Will oil prices go up?
No one can say for sure where oil prices will go next. Many forces shape the market—but at the core, it’s still about supply and demand. When risks like a potential recession or war ramp up, oil prices can change direction quickly.
How oil prices translate to gas pump prices
When you buy gas at the pump, you’re covering more than the cost of crude oil. You’re also paying for every step in the process, including refineries, wholesalers, taxes, and the markup your local gas station adds.
Even so, crude oil has the biggest influence on what you pay, often making up more than half the cost per gallon. When oil prices jump, gas prices usually climb right along with them. But when oil falls, gas prices often slip much more slowly—a pattern sometimes called “rockets and feathers.”
The role of the U.S. Strategic Petroleum Reserve
If an emergency hits, the U.S. keeps a backup supply of crude oil called the Strategic Petroleum Reserve. It’s mainly there to protect energy security during crises, such as sanctions, catastrophic storm damage, even war. It can also help cushion the blow when supply shocks send prices soaring.
It’s not meant to solve long-term problems. Instead, it provides quick relief for consumers and helps keep vital parts of the economy moving, like essential industries, emergency services, and public transit.
How oil and natural gas prices are linked
Oil and natural gas are two of the world’s primary energy sources. A big change in oil prices can affect natural gas by extension. For example, if oil prices increase, some industries may swap natural gas for some segments of their operations where possible, which which increases demand for natural gas.
Historical performance of oil
When looking at how oil performs, two main benchmarks stand out:
- Brent crude oil is the main global oil benchmark.
- West Texas Intermediate (WTI) is the main benchmark of North America.
Of the two, Brent gives a better picture of global oil performance because it prices a large share of the world’s traded crude. It’s also the go-to for tracking oil’s historical trends. In fact, even the U.S. Energy Information Administration now relies on Brent as its primary reference in its Annual Energy Outlook.
If you look at the Brent benchmark over several decades, oil has been far from stable. It has experienced sharp rises tied to wars and supply cuts, along with steep drops linked to global recessions and oversupply (called a “glut”). For example:
- The early 1970s delivered the first major oil shock when the Middle East slashed exports and placed an embargo on the U.S. and others during the Yom Kippur War.
- Prices fell in the mid-1980s due to lower demand and an influx of non-OPEC oil producers joining the market.
- Prices surged again in 2008 as global demand grew, but then crashed alongside the global financial crisis.
- During the 2020 COVID lockdown, oil demand plummeted like never before—pushing prices below $20 per barrel.
To sum up, oil’s historical performance has been anything but smooth. Again, it’s heavily influenced by wars, recessions, OPEC whims, shifting energy policies, and much more.
Energy coverage from Fortune
Looking to stay up-to-date regarding the latest energy developments? Check out our recent coverage:
- U.S. strategic reserve drawdown may damage the underground caverns storing American oil
- Trump’s Venezuela fixer is promoting ‘America First’ oil deals
- Covert mideast oil flows are keeping global prices in check
Frequently asked questions
How is the current price of oil per barrel actually determined?
The current price of oil per barrel depends largely on supply and demand, including news about potential future supply and demand (geopolitics, decisions made by OPEC+, etc.). In the U.S., prices also move based on how friendly an administration is to drilling, as it can affect future supply. For example, 2025 saw the Trump administration move to reopen more than 1.5 million acres in the Coastal Plain of the Arctic National Wildlife Refuge for oil and gas leasing, reversing the Biden administration’s policy of limiting oil drilling in the Arctic.
How often does the price of oil change during the day?
The price of oil updates constantly when the “futures” markets are open. A futures market is effectively an auction where people agree to buy or sell oil in the future. As long as people and companies are trading contracts, the oil price is changing.
How does U.S. shale oil production affect the current price of oil?
In short, shale is rock that contains oil and natural gas. Think of shale as energy yet to be tapped. The more shale the U.S. accesses, the more energy we’ll have—and the more easily oil prices can keep from spiking as much thanks to a greater supply.
How does the current price of oil impact inflation and the broader economy?
When oil is expensive, it tends to make everyday items cost more. This can be related to energy (your heating, gas utilities, etc.), but it’s also due to the logistics involved with making those items accessible to you. Shipping, for example, can affect the price of things at the grocery store, as it’s more expensive to get those products from warehouses and farms onto the shelf.
This story was originally featured on Fortune.com
Two-thirds of religion-based hate crimes in 2025 were against Jews, FBI report reveals
Almost two-thirds of all religion-based hate crimes in the US in 2025 were against Jews, the Federal Bureau of Investigation (FBI) revealed in its newly released Reported Crimes in the Nation (RCN).
According to the data, there were 1,528 antisemitic hate crime incidents recorded last year, constituting 63% of the total. The number of hate crimes targeting Jews was over seven times higher than the next highest target: anti-Muslim crimes (205 incidents).
The FBI recorded 1,685 antisemitic offenses, which meant some incidents involved more than one criminal act. It also recorded 1,746 victims of antisemitic hate crimes, and 1,591 offenders.
This marked a decrease across the board compared to 2024, when there were 1,938 antisemitic hate crime incidents, 2137 offenses, and 2,237 victims.
Nevertheless, 2025 marked the third-highest year on record of anti-Jewish hate crimes.
Over 150 anti-Jewish assaults in 2025, over 500 acts of intimidation
The FBI also released details of the types of offenses committed.
Violent acts remained high, with 162 anti-Jewish assaults (50 aggravated and 112 simple assaults) in 2025, along with three anti-Jewish murder/non-negligent manslaughter offenses and 505 acts of intimidation targeting Jewish victims. There was also one listed incident of antisemitic rape.
More than half of the offenses – 920 – involved destruction of property, vandalism, or other forms of damage.
“Behind every one of these numbers is a person who was targeted simply for being Jewish, whether through vandalism, intimidation, or violence,” said Jonathan Greenblatt, ADL CEO.
“In 2025, that hate turned deadly, not just here at home, but around the world. 2025 was the deadliest year for antisemitic attacks in the Jewish diaspora in more than three decades, with 20 people murdered globally simply for being Jewish.
“We cannot allow a modest yet positive decline in the topline domestic numbers to obscure the reality that antisemitism remains one of the most persistent and dangerous forms of hate in this country and beyond.”
Hate crime sends message of fear to entire community
“When a hate crime occurs, the damage extends far beyond the victims and sends a message of fear to an entire community,” said Carla Hill, Vice President of Research and Investigations, ADL Center on Extremism.
“Hate crimes are deeply personal, harmful, and traumatizing, not only for the individual targeted, but for the entire community. Addressing them requires a whole-of-government, whole-of-society response that centers victims and the needs of those impacted.”
American Jewish Committee CEO Ted Deutch said: “While we acknowledge the drop in anti-Jewish hate crimes, this offers limited comfort to the many American Jews who feel that violence, harassment, and discrimination against Jews is too often excused and normalized, and therefore likely not reported to the fullest extent.
“We are urging all those in positions of power across society to work with us to continue this momentum and take new, concrete action to stand against anti-Jewish hate.”
The new FBI data is based on aggregation from 16,791 law enforcement agencies, representing 86% of agencies enrolled in the hate crime data collection program.
Who are Hamas’s adversaries in Gaza? – opinion
Hamas’s internal security and counter-intelligence apparatus in Gaza includes a specialized unit known as the Radaa Force. It is focused on monitoring threats to Hamas from rival factions and on identifying dissidents, suspected informants, and “collaborators” working with Israel.
The size, command structure, and exact responsibilities of the Radaa Force are uncertain; Hamas has revealed few details about it. Its name derives from an Arabic root meaning “deterrence” or “prevention.”
On August 6, Radaa issued an appeal to the Gazan public in general, and to members of anti-Hamas militia groups in particular, urging them to assassinate the leaders of those bodies.
“We say to all members of the collaborator gangs,” ran the Radaa Force statement, “that assassinating senior collaborators in these groups will be your salvation – before us, and before your people.”
What are these anti-Hamas militia groups, and who are their leaders?
The most internationally visible, and arguably most consequential, of the anti-Hamas armed networks in Gaza is known as the “Popular Forces.” Originally led by Yasser Abu Shabab until his death in December 2025, it is now under the leadership of Ghassan Duhine, his deputy. It is the only anti-Hamas force that appears to have reached battalion-scale strength. Estimates range up to 700 fighters.
The Popular Forces emerged in southern Gaza, especially around Rafah. On June 5, 2025, in a video statement responding to allegations by former defense minister Avigdor Lieberman, Prime Minister Benjamin Netanyahu acknowledged that Israel had “activated” and supported clans in Gaza opposed to Hamas.
Subsequent reporting by the Associated Press and other outlets identified Abu Shabab’s Popular Forces as one of the groups receiving such support.
Reported assistance included weapons, intelligence, logistical support, access to Israeli-controlled areas, and protection from Hamas. The reported activities of the Popular Forces include an attack on a Hamas facility near Khan Yunis that the group alleged was being used to store aid confiscated by Hamas.
They also participate in intelligence gathering against Hamas, securing aid convoys and routes near Israeli-controlled areas, and protecting access routes to aid distribution points.
Unlike Fatah, the Popular Forces do not prioritize Palestinian nationalism or a state-building ideology. Abu Shabab publicly condemned the brutal onslaught on October 7, 2023, and argued Hamas had brought catastrophe on Gaza.
Politically, this group is the least clearly ideological of the major formations. Its motivations seem to combine anti-Hamas hostility, tribal autonomy, economic interests, personal power, and dependence upon Israeli patronage. Its principal political proposition is effectively that Hamas must be removed and that local Palestinian actors should assume control.
The Popular Forces’ politics are moved partly by clan interests. The Abu Shabab clan is a large family network in the Rafah area of southern Gaza, connected to the larger transborder Tarabin tribal network, which extends into Sinai. Its priorities are protecting its local influence, its territory, economic resources, and clan autonomy.
Hamas has traditionally sought to subordinate armed groups and local power brokers to its own authority. During periods when Hamas’s control has weakened because of war, some clans – the Popular Forces among them – have sought to expand their own security and political roles.
Meet Hussam al-Astal’s CTSF
The second particularly important anti-Hamas organization in Gaza is the Counter-Terrorism Strike Force (CTSF), centered on Khan Yunis and commanded by Hussam al-Astal. Al-Astal has a security service background within the Palestinian Authority, and his opposition to Hamas is more political and institutional than purely tribal.
The declared objective of the CTSF (sometimes known simply as the Anti-Terror Force) is the removal of Hamas and the establishment of an alternative security authority. Al-Astal portrays his organization as an independent Palestinian anti-Hamas force, though there is significant evidence of operational cooperation with Israel.
The group crossed an important threshold on January 12, 2026, when gunmen killed Mahmoud al-Astal, a senior Hamas police officer. Hussam al-Astal’s organization publicly claimed responsibility. Hamas described the perpetrators as Israeli collaborators.
The common surname is almost certainly not accidental. Mahmoud al-Astal and Hussam al-Astal appear to have belonged to the same extended al-Astal clan, but they were aligned with opposing political-military camps. Publicly available sources do not identify their precise familial relationship.
The Hellis clan represents a third category of anti-Hamas groupings.
The Hellis family, long associated with Fatah, has opposed Hamas’s rule ever since the terrorist organization seized control of Gaza in 2007. Its most important contemporary figure is Rami Hellis, who has reportedly formed an armed network with
Ahmed Jundeya, another prominent local figure from Shejaia, a large neighborhood in eastern Gaza City.
Their forces have operated in areas under Israeli control and have resisted Hamas attempts to reestablish its authority in the area. Reuters describes the Hellis/Jundeya network as one of the principal armed challenges to Hamas following the 2025 ceasefire.
The al-Majayda clan is based in Khan Yunis, and it, too, has become involved in the struggle over postwar authority. Members have clashed with Hamas during attempts by Hamas security forces to arrest suspects.
Although the clan has criticized Hamas’s use of extrajudicial violence, its political position is notably ambiguous. At least one senior al-Majayda figure subsequently expressed support for Hamas’s efforts to restore order.
The al-Majayda clan has been linked to the CTSF through local alliances and cooperation, although the clan and the militia are distinct entities.
The Doghmosh clan is somewhat different from the others. It is not primarily an Israeli-backed militia. It is one of Gaza’s long-standing armed families and has historically shifted between relationships with Hamas, Fatah, Salafist groups, and independent activity.
Back in October 2025, armed members of the clan fought Hamas forces in Gaza City, and it was described as a significant armed rival to Hamas. Currently, there does not seem to be a formal Doghmosh militia.
As for the 20-point Trump peace plan for Gaza, there is no evidence that any major anti-Hamas militia has formally adopted the plan as its platform.
Some – especially the Popular Forces – have objectives that overlap with key parts of the plan, particularly supporting a post-Hamas administration after ending Hamas rule. Others – anti-Hamas though they are – seem more intent on pursuing their own narrower interests.
The writer, a former senior civil servant, is the Middle East correspondent for Eurasia Review. Follow him at: www.a-mid-east-journal.blogspot.com
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Iran’s drone strike on Kurds may be warning over Trump administration’s backchannel, analyst says
Iranian Foreign Minister Abbas Araghchi dismissed the drone attack on the office of the Kurdistan Democratic Party leader, posting on X/Twitter on Monday that “Kurdish friends” should be aware of “false-flag ploys” aimed at “sowing discord between neighbors.”
Two drones targeted the office of Masrour Barzani, the Kurdistan Regional Government’s prime minister, and the home of the region’s intelligence chief in northern Iraq on Monday, the KRG security agency announced.
The attack was launched from Iranian territory, it said in a statement
“Nothing justifies the reckless attack on PM Barzani’s office. Kurdish friends should be vigilant against false-flag ploys to sow discord between neighbors,” Araghchi wrote. “We protected our Kurdish friends against Saddam and DAESH, and we’re thankful for security they’ve provided on our border.”
Nothing justifies the reckless attack on PM Barzani’s office. Kurdish friends should be vigilant against false-flag ploys to sow discord between neighbors.
We protected our Kurdish friends against Saddam and DAESH, and we’re thankful for security they’ve provided on our border.
— Seyed Abbas Araghchi (@araghchi) August 17, 2026
Iranian Foreign Ministry spokesperson Ismaeil Baqaei doubled down on Araghchi’s statements in comments to Iranian state media on Monday, describing the attack as “highly suspicious.”
“This development is highly suspicious and requires all sides to exercise vigilance,” he told IRNA, adding that he had information indicating that Iraqi intelligence was holding groups responsible for planning and carrying out the “sinister plots.”
Security analyst accuses Iran’s response of being incomplete
Security analyst Roger Macmillan said that the response by the Iranian officials was lacking.
“The Kurdistan Counter-Terrorism Service didn’t just say ‘Iran did this.’ They named the munition type, two Hadid-110 drones, and stated a launch origin inside Iranian territory,” he explained.
“That’s a forensic claim, not a political one. A false-flag narrative needs to explain how a third party sourced and launched an Iranian-designated drone type from inside Iran’s own territory. Araghchi’s statement doesn’t engage with that detail at all; it simply asserts the incident is ‘suspicious’ and pivots to blaming unnamed others.”
The attack came after a report from Axios published on Sunday claimed that the Trump administration used Iraqi Kurdistan President Nechirvan Barzani as a backchannel to speak with the Islamic Revolutionary Guards Commander Ahmad Vahidi. The report was later confirmed by a spokesperson to Iran International.
Macmillan said that the fact that the strike came within days of the confirmation indicated that the motive behind the attack was to punish KRG and warn its leadership against making further admissions going forward.
IRGC attacks Kurdish territories, ‘Post’ confirms
Erbil has seen frequent attacks from Iran since the outbreak of the war. A Democratic Party of Iranian Kurdistan (PDKI) report seen by The Jerusalem Post claimed that between February 28 and August 1, the IRGC and affiliated groups were responsible for 423 attacks on five Kurdish organizations in the territory, resulting in 20 casualties. The Post has also previously spoken with Ardalan Mama, whose home was destroyed by an Iranian missile.
Since the outbreak of the war, Araghchi has frequently commented on the risk of alleged false-flag attacks. In March, he warned his Turkish counterpart of repeated false-flag operations aimed at undermining regional ties a day after NATO intercepted a ballistic missile fired from Iran over Turkey, and only weeks ago he described a drone strike on Egypt’s Damietta Port as an Israeli false-flag operation.
تُعدُّ مصر صديقًا وشريكًا مهمًا في المنطقة، ويُشكّل أمنُها أهميةً قصوى بالنسبة لنا.
يجب علينا جميعًا أن نكون يقظين تجاه المخططات الإسرائيلية وعمليات “العَلَم الزائف” التي تهدف إلى تقويض السلام الإقليمي.
إن التهديد واضح، ومشترك، ويخشَى تضامن المسلمين.— Seyed Abbas Araghchi (@araghchi) July 30, 2026
“Egypt is considered a friend and important partner in the region, and its security constitutes an utmost priority for us. We must all remain vigilant toward Israeli schemes and “false flag” operations that aim to undermine regional peace,” he wrote. “The threat is clear, shared, and fears Muslim solidarity.”
STAT+: Amylyx endocrine drug succeeds in pivotal study
Amylyx Pharmaceuticals said Tuesday that its experimental drug significantly helped patients who experience sudden drops in blood sugar after bariatric surgery, paving the way for its potential approval as the first treatment for the condition.
In a Phase 3 trial of people with post-bariatric hypoglycemia, or PBH, those taking the drug experienced a 55% reduction in the rate of serious low blood sugar events compared with those on placebo. This was better than expected; the study was statistically powered to show a 35% improvement over placebo.
A serious event is a medical emergency that could mean the person loses consciousness or experiences a seizure, so “any reduction in these hypoglycemic events would be very meaningful for people with PBH and their families,” said Amylyx co-CEO Justin Klee. To see such a large effect in the study “is just so exciting.”
Saudi Arabia tightens regulations on money flow to UAE, in latest sign of deepening rift
Saudi Arabia has placed financial transfers to the United Arab Emirates under extra layers of regulatory oversight reserved for countries considered high-risk for illicit money flows, according to three people with direct knowledge of the matter, the latest sign of a widening rift between the wealthy Gulf monarchies.
The measures, which were not announced publicly, could help explain why a number of companies say they have had difficulties transferring funds from accounts in Saudi Arabia to the UAE in recent months, an issue first reported by Bloomberg and the Financial Times in July. The enhanced oversight measures have not previously been reported.
Six businesspeople told Reuters their companies have had transfers in various currencies delayed or returned by Saudi banks with no official explanation.
Saudi Arabia’s central bank requires financial institutions to apply more checks when dealing with customers or jurisdictions that pose greater risks for money laundering, terrorism financing, and other crimes. Earlier this year, it notified key banks in the country to apply such measures when handling settlements with the UAE, said the three people with direct knowledge of the matter, who, like others, spoke on condition of anonymity.
A fourth person, a Western executive with operations in Saudi Arabia, said they received the same explanation when they asked their bank about transaction delays.
Responding to questions from Reuters, the Saudi central bank said: “There are no direct restrictions on specific countries.”
It said Saudi Arabia has a robust regulatory framework to combat money laundering and terrorism financing in line with standards set by the Financial Action Task Force (FATF), a global watchdog based in Paris.
“All banks in the Kingdom apply necessary controls and preventive measures to mitigate risks based on their own internal assessments and institutional risk appetite, while also assessing various risk factors, including country and geographic risk,” it said.
A UAE official said its economy ministry has not received any reports from private-sector companies regarding difficulties or unusual delays in completing bank transfers between the two nations.
“The UAE and Saudi Arabia maintain deep and longstanding economic and commercial ties, supported by significant trade and investment flows,” the official said. “We remain in regular engagement with the private sector and relevant stakeholders, and would review any specific concerns brought to our attention through the appropriate channels.”
The additional scrutiny puts the UAE – a hub for real estate investment and the trade of precious metals and stones – among more than a half dozen countries in the region deemed high risk in Saudi Arabia for financial crimes, two of the sources said. They include Lebanon, South Sudan, and Iraq, which are on the FATF’s “grey list” of jurisdictions that need additional monitoring.
The FATF delisted the UAE in 2024 after it made improvements to its anti-money laundering regime, a decision some anti-corruption groups argue was premature. The United States has imposed sanctions on a number of UAE-based individuals and entities accused of raising or laundering funds for groups such as Iran’s Islamic Revolutionary Guard Corps and Somalia’s al Shabaab militants.
A Saudi insider said the enhanced oversight was intended as a “subtle message” to Emirati leaders about the importance of maintaining good relations following a period of escalating tensions between the two Gulf heavyweights – an interpretation shared by four regional financial-sector sources who were not briefed on the reasons for the measures.
Authorities in Saudi Arabia and the UAE did not answer questions about what may have prompted the move.
The two are major trading partners, but their interests have diverged over the years on everything from oil quotas and geopolitical influence to the race for foreign talent and capital.
UAE, Saudi Arabia clash over Yemen war
Simmering disagreements came into the open late last year over their support for opposing sides in the war in Yemen. Saudi Arabia accused the UAE of threatening its security by backing secessionist forces who made a push toward its borders.
There were more disagreements over how to respond to Iran’s war with the United States and Israel, even as Riyadh and Abu Dhabi sought to present a united front against Tehran’s attacks on Gulf nations.
Saudi Arabia and the UAE are so deeply enmeshed in trade, investment and logistics that analysts consider a full-blown economic rupture unlikely, saying it would serve neither country’s interests. The kingdom is the UAE’s largest trading partner in the Arab world, while the UAE was Riyadh’s fifth-largest export destination overall and its fourth-largest source of imports in 2024, according to data from the online platform the Observatory of Economic Complexity.
For all their differences, the Iran war has “solidified the rationale for cooperation” to secure vital interests, including reopening the Strait of Hormuz, said Justin Alexander, director of Khalij Economics, a Gulf-focused consultancy.
Top media officials from both nations posted synchronized statements on social media last month underlining the brotherly ties between the two.
Still, economic competition has been brewing for years as both attempt to reduce their reliance on oil-and-gas revenues and establish themselves as world-class financial and business centers.
Saudi Arabia pushing companies to move regional bases to Riyadh
While Dubai remains the Gulf’s main business hub, Saudi Arabia has pushed multinational companies to relocate their regional headquarters to Riyadh, making it a condition to secure big government contracts.
The businesspeople who spoke to Reuters said their difficulties with cross-border transfers began in the weeks after the UAE announced on April 28 that it was leaving OPEC, the group of oil-producing states effectively led by Saudi Arabia.
The head of a Dubai-based consultancy said some Saudi clients were struggling to make payments to the firm and had advised him to set up operations elsewhere.
Two other UAE-based companies received similar requests from clients, who said Saudi authorities asked them not to do business with firms in the UAE, according to an investor with stakes in both firms. The companies have been waiting weeks for payments from Saudi Arabia, in some cases for amounts below 1 million dirham ($272,257), which would previously have been processed in a few days, the investor said.
Authorities in Saudi Arabia and the UAE did not respond to questions about these accounts.
Three bankers said the enhanced oversight means transfers to the UAE pass through more hands and receive closer scrutiny from compliance departments. Some transfers take weeks to go through; others never make it, they said.
Three businesspeople said their firms now route payments via third countries to get around the issue.
Kushner: US will back Israeli resumption of war if Hamas fails to honor disarmament commitments
Hamas must honor its commitments to disarm or face an IDF operation to “finish the job,” US special envoy Jared Kushner told FOX News’s Trey Yingst on Monday.
Kushner’s comments came after meetings with Hamas and the National Committee for the Administration of Gaza (NCAG) in Cairo on Sunday, and respective meetings with Prime Minister Benjamin Netanyahu and President Isaac Herzog in Jerusalem on Monday.
“If they [Hamas] don’t follow through now on their commitment, everyone will see that they’re not genuine about peace, and then Israel will have a lot more support from the US and others to go and finish the job in the appropriate way,” Kushner stated.
The terror group affirmed its “commitment” to Trump’s 20-point peace plan, and the “15-point roadmap that we’ve been working on with them for the last four months, where they commit to giving up their weapons,” Kushner said.
“Time will tell whether that’s going to be implemented,” Kushner added.
Kushner: Hamas said right things during meeting, but difficult to trust a terror organization that committed atrocities
Describing the behavior and comments of the Hamas delegation in Cairo, Kushner said that “they said all the right things, but obviously, it’s very, very hard to trust, you know, a terrorist organization that committed these terrible atrocities.”
“But we had a very cordial meeting, and they said all the right things, and so we’re giving them a chance to perform… it’s going to be based on actions and steps, and I hope it will be true,” Kushner told Yingst.
“We could be seeing progress, you know, in as much as in as little as 30 days,” Kushner told Yingst regarding the planned pace of demilitarization operations.
“Hopefully, on starting to take some of the weapons out, and hopefully, you know, filling in some of the tunnels as well in the next 60 to 90 days as well,” he added.
“For Israel, we think this is a win-win situation because if Hamas actually gives over the weapons and the tunnels willingly over the next 60 to 90 days, that obviously would be the elimination of a huge security threat for Israel, almost an unthinkable achievement,” he stated.
Trump admin. will not allow Gaza to be rebuilt until Hamas demilitarizes, Kushner says
The Trump administration will “not allow Gaza to be rebuilt until demilitarization occurs,” Kushner stated.
“We’re also not going to restrict Israel’s right to defend itself if there are any imminent threats,” he added, noting that his delegation “had to clarify what that means” during the four-hour meeting with Netanyahu.
“Israel has a strong desire to live in peace,” Kushner told Yingst.
“They’ve been through three years of war. It’s been very, very hard for the country, very hard for the people. I think there’s a lot of emotion in Israel and in the region,” he continued.
“As I travel around the region, I do think people are tired of war. I think they’re ready for something new… But it’s just sometimes hard. You know, who’s going to take the first step, and how do you build trust when there’s so little trust that’s now been eroded?” he added.
Anti-Israel protesters dump fake blood outside embassy in Washington, set up fake graves
Anti-Israel protesters demonstrated outside the Israeli Embassy in Washington on Monday, including by pouring red liquid on the ground and setting up fake graves covered in Palestinian flags, footage from the Combat Antisemitism Movement showed.
Among the signs held by the protesters were ones reading “No place for Israel in a good world” and “Israelis are baby killers.”
This is a developing story.
Suspect arrested for allegedly vandalizing Basimta cafe during protests against its Shabbat opening
A 75-year-old suspect was arrested for allegedly vandalizing the Basimta cafe in Jerusalem, following weeks of haredi (ultra-Orthodox) protests against it for being open on Shabbat, Israel Police announced on Tuesday.
According to the police, the suspect is thought to have vandalized the cafe with graffiti, thrown garbage at it, and damaged the cafe’s lock.
The suspect had restrictive conditions on her extension by the court, which also barred her from approaching or entering Basimta.
Haredim protest cafe for being open on Shabbat
The cafe has seen protests against it being open on Shabbat every weekend for seven consecutive weeks, alongside counterprotests in support of the business owners.
On July 4, the first Saturday it drew protesters, dozens of haredi demonstrators, many of them reportedly minors, descended on the cafe in four separate waves, surrounding it, banging on its windows and overturning tables, according to cafe staff and footage circulated online.
Last month, it was revealed that the cafe is an official project of Jews for Jesus, a flagship organization of the diffuse movement of Messianic Judaism, which believes in the divinity of Jesus while claiming to practice Judaism, an overlap that no denomination across the Jewish world accepts as compatible.
Theia Chatelle contributed to this report.
U.S. Gives Raytheon $22.9 Billion Deal to Take Tomahawk Production From 60 to 1,000+ a Year
The U.S. government is giving Raytheon a $22.9 billion, seven-year contract to dramatically expand Tomahawk missile production, pushing annual output from roughly 60 missiles to more than 1,000.
The deal is designed to replenish inventories and rebuild the industrial capacity needed to manufacture precision weapons at a far larger scale than in recent years.
That makes this more than a defense-contract story.
For decades, the U.S. defense industry was structured around relatively predictable peacetime production. The new contract signals a shift toward long-term guaranteed demand intended to support factory expansion, supplier investment, workforce hiring and production-line modernization.
Tomahawk missiles are among the most widely recognized U.S. long-range precision weapons and are launched from ships and submarines.
Increasing production by more than sixteen-fold requires far more than adding assembly shifts. Suppliers must increase output of propulsion systems, guidance electronics, warheads, casings and other specialized components, many of which come from smaller manufacturers deep in the defense supply chain.
That is why the length of the contract matters.
A seven-year commitment gives companies more confidence to invest in new equipment and capacity because they have clearer visibility into future orders.
The broader economic effect could stretch well beyond Raytheon.
Major weapons programs support networks of machine shops, electronics firms, materials suppliers, logistics companies and engineering contractors across the country. A production increase of this magnitude can translate into substantial new capital spending and hiring throughout that network.
It also reflects a larger change in how Washington is approaching military procurement.
Recent conflicts have exposed how quickly advanced munitions can be consumed and how slowly complex weapons can be replaced when production lines are small.
The Pentagon is now increasingly using multiyear contracts and large guaranteed orders to persuade manufacturers to invest before inventories become critically low.
That can reduce the cost per weapon over time, but it also locks the government into large spending commitments years in advance.
For Raytheon, the contract creates something every manufacturer values: unusually strong demand visibility.
For the broader defense industry, it sends a clear message that the U.S. wants production capacity built not around the quantities needed today, but around what could be required during a sustained conflict.
Moving Tomahawk production from roughly 60 missiles a year to more than 1,000 would represent one of the most dramatic manufacturing expansions in the modern U.S. defense industry.
And it shows how quickly military readiness is becoming an industrial-capacity question as much as a battlefield one.
JBizNews Desk | Washington
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