Good morning, everyone, and welcome to another working week. We hope the weekend respite — longer than usual thanks to a holiday on this side of the pond — was relaxing and invigorating. Now, though, that oh-too-familiar routine of meetings, deadlines, and the like has returned with a vengeance. You knew this would happen, yes? To cope, we are relying, as always, on a cuppa stimulation. Our choice today is English breakfast. Feel free to join us. Remember, no prescription is required. Meanwhile, here are a few items of interest. Best of luck accomplishing your goals and we hope you conquer the world. And, of course, do keep in touch …

The U.S. Food and Drug Administration will reconsider approving an experimental gene therapy for a deadly and rare childhood brain disorder that it rejected just four months ago, STAT tells us. The sudden turnaround is the latest in a series of apparent FDA reversals in the past two months, after leaders installed by the Trump administration resigned or were fired. Just last week, UniQure announced it was cleared to submit an application for a Huntington’s disease gene therapy that the agency had previously spurned and that former commissioner Marty Makary appeared to disparage on national television.

The U.S. launched a trade investigation into a German plan to lower its spending ​on pharmaceutical products, to see whether it is unreasonable or ‌discriminatory, Reuters notes. The probe by the U.S. Trade Representative comes under Section 301 of the Trade Act of 1974 and follows a move by the German Ministry of Health unveiled plans in April for a ​wide-ranging overhaul of the country’s statutory healthcare system to reduce a looming funding gap ‌by $23 billion. The plan, which would have introduced variable discounts on pharmaceuticals, is being replaced after the pharmaceutical industry expressed opposition to it.

Continue to STAT+ to read the full story…

This post was originally published here

Extell Development last week secured a zoning bonus from the city required for the firm’s proposed 1,130-foot-tall tower at the site of Midtown’s former Wellington Hotel. The City Planning Commission last week granted the project at 871 7th Avenue a nearly 120,000-square-foot density bonus; in exchange, Extell will upgrade the nearby 50th Street subway station to be fully accessible. The approval allows for the project to expand by 20 percent, transforming it from a 27-story hotel into a 71-story mixed-use tower with 130 residential units and 156 hotel rooms. As first reported by Crain’s, the expansion utilizes the city’s Zoning for Accessibility (ZFA) program, which offers density bonuses to developers in exchange for transit improvements.

Previous conditions of 871 7th Avenue. Credit: CPC

Established in 2021, the ZFA program provides developers with density bonuses of up to 20 percent, or easements that can also increase the size of their projects, in exchange for committing to fund accessibility upgrades at nearby transit stations. The project at 871 Seventh Avenue marks the fifth bonus granted under the program, alongside eight prior easements, according to Crain’s.

It also complements the MTA’s 2022 commitment to make at least 95 percent of its subway stations fully accessible to riders with disabilities by 2055. For this project, Extell said it will add elevators at the northbound and southbound platforms at the 50th Street 1 train station, as well as add a stairway and fare control area at the northbound platform.

Miriam Harris, senior vice president of transit-oriented development at the MTA, told Crain’s that Extell’s investment will free up funds for station upgrades in other parts of the city where the zoning bonus is not yet desirable.

Rendering of 871 7th Avenue. Credit: CPC

In 2022, Extell purchased the 26-story Wellington Hotel from Richard Born’s BD Hotels for $94.5 million. It was among the many hotels that shuttered during the COVID-19 pandemic, as 6sqft previously reported. The structure will be demolished to make way for the new tower.

The following year, Extell filed plans for a 27-story hotel at the site, spanning roughly 336,000 square feet and including 208 rooms, 35 parking spaces, a restaurant, office space, a lecture hall, and ground-floor retail.

In October, the firm filed a zoning application to secure a transit improvement bonus of 118,796 square feet of floor area.

The breakdown of the project is over 712,000 zoning square feet, with roughly 460,700 square feet for residential and 252,000 square feet for commercial, which includes 156 hotel rooms, office space, and retail.

While the CPC has approved the project, it has not been without opposition. In May, Manhattan Community Board 5 passed a conditionally unfavorable resolution, 21 in favor, eight against, with one abstention, recommending denial of the application.

The board expressed concerns about the lack of affordable housing, disruptive construction plans, and the impact of additional curb cuts on pedestrian safety.

During the June 17 CPC public meeting, Commissioner Leah Goodridge said Manhattan CB5 called Extell “a bad neighbor” and accused the developer of treating the property as a “dumping site” that it only cleaned up after applying for rezoning.

Commissioner Gail Benjamin also echoed concerns over the project’s lack of affordable housing. She said that because the approved zoning change is not a map change, the city’s Mandatory Inclusionary Housing zoning tool—which requires developers to include a certain number of affordable units in new projects—does not apply.

Benjamin continued, recommending that the CPC “take a look” at policies surrounding affordable housing requirements for these types of projects. Despite her concerns, she voted in favor of the proposal.

“In Manhattan, if we are going to get more affordable housing through our programs, it is probably going to be on these types of special permits and authorizations,” she said. “It would be great if we could take a look towards finding a way to make that requirement more Manhattan-centric.”

Extell has led a similar project at 655 Madison Avenue. Originally planned as a 37-story mixed-use tower, the firm now seeks to build a 74-story tower in exchange for improvements to the Fifth Avenue–59th Street subway station.

It also joins a slew of other ongoing projects Extell has initiated in recent years. In April, the firm filed plans for an 86-story residential tower on the Upper West Side, which would become the tallest in the neighborhood and surpass its existing tower across the street at 55 West 66th Street on the former Disney campus.

RELATED:

The post Extell secures density bonus for 71-story mixed-use project at Wellington Hotel site first appeared on 6sqft.

This post was originally published here

The “emerging trends” in housing story over the past decade or more has been a tale of magnitude variations on a theme: constrained supply eclipsed by growing demand.

If there is one conclusion that rises above all others in this year’s “The State of the Nation’s Housing 2026” report, it is that the industry’s challenge has shifted to a new, different, unsettling theme.

Supply is still constrained. But demand, and the demographic bedrocks beneath it, now point to – and beyond – an apogee.

Demand deterioration.

HH_growth_jchs_0626
Image courtesy of JCHS

Demand destruction.

immigration_jchs_0626
Image courtesy of JCHS

Demand deceleration.

usmigration_0626_jchs
Image courtesy of JCHS

You name it.

Demand decline now figures into long-term strategic and business plans that take stock of where we are.

Until now, housing leaders could reasonably assume that demographic demand would eventually absorb whatever product they could bring to market.

Harvard’s latest analysis suggests that this assumption warrants re-examination. Household growth slowed for a third consecutive year, falling to 1.1 million in 2025 after averaging 2 million annually during the pandemic-era surge. At the same time, job growth weakened dramatically, consumer confidence remained near historic lows, mobility fell to record lows, and immigration slowed sharply.

For builders and developers, the blend of those forces and factors is meaningful. Why? It weighs directly on the industry’s fundamental growth engine: newly-formed households.

The report documents a market in which fewer young adults are forming households, fewer people are relocating, and fewer international migrants are arriving to fuel household growth. Those trends are not cyclical noise. They represent meaningful pressure on housing demand growth over the next several years.

That reality helps explain many of the operating conditions builders experienced during the disappointing spring selling season of 2026.

10 insights homebuilding leaders need to reckon with

1. Household formation is slowing materially.
The housing industry’s largest long-term demand driver weakened for a third consecutive year. Household growth has effectively returned to pre-pandemic levels after the extraordinary surge of 2020 and 2021.

2. Immigration is becoming a major housing demand variable.
Harvard projects net international migration could fall to roughly 321,000 people in 2026, dramatically below historical norms. That shift has implications not only for household growth but also for labor availability across construction and building products sectors.

3. Mobility has effectively frozen.
Only 11.2% of households relocated in 2024, a record low. Existing homeowners remain locked into low mortgage rates, reducing both resale inventory and move-up demand.

4. Builders are already adapting their product.
The industry’s response to affordability pressures is clearly visible. Builders are delivering smaller homes, smaller lots, more townhomes, and more incentive-driven financing packages. Homes under 1,800 square feet increased their share of completions significantly, while townhomes reached 18% of single-family completions.

5. Unsold inventory is becoming a constraint.
Unsold completed new-home inventory rose 54% over two years and reached its highest level since 2009. That inventory overhang is helping suppress additional starts.

6. Build-to-rent has moved from niche to meaningful demand channel.
Single-family homes built specifically for rental represented 11% of completions in 2025, nearly three times historic norms. Builders increasingly relied on institutional rental demand as owner-occupant demand softened.

7. Multifamily is entering a different phase of the cycle.
The industry is still absorbing the largest apartment delivery wave in decades. New supply helped moderate rents in many Sunbelt markets, but the development pipeline is shrinking as units under construction decline.

8. Affordability remains historically broken.
Even with slowing home-price appreciation, the median existing-home price remains nearly five times median household income. Mortgage payments on a median-priced home remain roughly double where they stood in late 2020.

9. Housing costs now extend far beyond mortgage payments.
Insurance premiums increased 72% between 2019 and 2025, while property taxes rose 31%. Those cost increases are becoming increasingly important purchase-decision variables.

10. The housing shortage increasingly centers on affordability, not simply volume.
The report’s most sobering statistic may be that 11 million extremely low-income households compete for only 3.8 million affordable and available rental units. The nation’s biggest housing shortfall is no longer a generic unit shortage; it is a shortage of attainable housing.

Three opportunity areas emerging for builders

The report also highlights several strategic opportunities for builders, developers, capital partners, and suppliers willing to adapt.

1. The attainability innovation race

The companies that figure out how to deliver attainable housing at scale stand to capture disproportionate market share.

The report repeatedly points to the widening gap between what households can afford and what the industry can economically produce. That gap creates opportunity for innovation in lot design, floor plans, off-site construction, automation, value engineering, and entitlement efficiency.

2. Build-to-rent becomes core strategic, not reactive tactical

Institutional rental demand is no longer merely a backstop during slow sales periods.

The growth of build-to-rent suggests a structural evolution in how housing is delivered and consumed. Builders capable of serving both for-sale and for-rent demand channels may enjoy greater resilience during future market cycles.

3. Remodeling and existing-housing preservation

The aging housing stock is quietly becoming one of housing’s largest business opportunities.

Owner improvement spending reached $376 billion in 2025 and now rivals spending on new single-family development. With owner-occupied homes reaching a median age of 42 years, demand for repairs, retrofits, resiliency upgrades, energy improvements, and modernization appears likely to remain durable.

Three risks that could reshape the next 36 months

1. Structural demand deceleration

The combination of slower household growth, weaker immigration, lower mobility and diminished consumer confidence suggests that the industry’s long-assumed demand floor may be lower than many business plans assume.

2. Housing cost escalation beyond purchase price

Insurance, taxes, utilities, resiliency requirements and climate-related expenses increasingly influence buyers’ decisions. Builders who focus solely on purchase-price affordability risk overlooking the growing importance of monthly ownership costs.

3. Climate and disaster exposure

Harvard’s report identifies climate risk as a housing-supply issue as much as an environmental one. Billion-dollar weather disasters continue to rise, while federal disaster-recovery and mitigation frameworks face growing uncertainty. Those pressures could reshape land values, insurance availability, development economics, and geographic growth patterns across many markets.

Make no mistake …

What to learn from The State of the Nation’s Housing 2026 is that housing’s challenge is shifting from whether America needs more housing to whether it can produce housing that aligns with what households can afford.

Builders spent much of the past decade responding to undersupply. The next phase may require something more difficult: aligning product, land strategy, operations, capital structures, entitlement processes, and technology investments around a consumer whose purchasing power has weakened even as housing costs remain historically high.

The industry’s leaders have already begun that transition through smaller homes, smaller lots, incentive-driven financing, build-to-rent partnerships, and operational efficiency initiatives. Harvard’s report suggests these moves are not temporary responses to a soft market. They may instead mark the early contours of housing’s next operating model.

This post was originally published on here

Mortgage rates are moving higher as 2026 nears its midway point. And sentiment has shifted when it comes to rate expectations as more housing market observers are predicting at least one rate hike this year — a stark contrast to the start of 2026 when multiple cuts were on the table and sub-6% rates seemed possible.

At HousingWire‘s Mortgage Rates Center on Tuesday, rates for 30-year conventional loans averaged 6.79%, up 6 basis points in the past week. Rates for 30-year jumbo loans also rose 6 bps to 6.81%, while rates for 30-year loans backed by the Federal Housing Administration (FHA) jumped 7 bps to 6.38%.

In the short term, rates have responded to the Federal Reserve‘s decision to hold benchmark rates steady for a fourth straight meeting, with stronger indications from Fed officials that a rate hike is more likely than a cut by the end of 2026.

A startling prediction was released Monday when Bank of America economists forecast three rate increases by the end of this year, which would bring the federal funds rate to a range of 4.25% of 4.5%, erasing all of the cuts made in 2025. But HousingWire Lead Analyst Logan Mohtashami called those actions “a bit too aggressive” and said they are unlikely to come to fruition.

“Core inflation had been picking up before the (Iran) conflict, so any rate cuts are off the table, even after the conflict ended. The conflict ending removed the worst-case scenario. However, for now, I have one rate hike planned for 2026,” Mohtashami wrote.

Interest rate traders hold similar views, according to the CME Group‘s Fed Watch tool. As of Tuesday, about 36% of those surveyed were predicting a 25-bps increase at the Fed’s next meeting in July — up from 18% a month earlier. Roughly half of respondents have penciled in a hike by September, while roughly one-quarter think there will be a 50-bps increase by October.

Impact on purchase, refi demand

Rising rates are likely to factor into summer home sales and have been suppressing activity over the past month. HousingWire Data shows that weekly pending sales remain higher than a year ago, but existing home sales — which lag the pending sales data by 30 to 60 days — are likely to slow in July, according to Mohtashami.

“Mortgage applications declined for the fourth time in five weeks, underscoring borrowers’ continued sensitivity to higher mortgage rates compared to earlier this year. Purchase activity remained above year-ago levels, but constrained housing supply in many markets, elevated home prices and ongoing economic uncertainty continue to weigh on would-be homebuyers,” Bob Broeksmit, president and CEO of the Mortgage Bankers Association (MBA), said in a statement.

Purchase application demand remains 3% higher than a year ago, the MBA reported. And consumer mentalities appear to be resilient despite affordability concerns. Bank of America survey data compiled in April and May shows that 53% of Americans would rather buy a home than rent or live with family — the first time in three years that a majority have expressed this view.

“The duration of the interest rate environment that we’re in today is now becoming a new normal, so versus the shock of movement from post-pandemic to the levels [near] 7%, now we’re consistently in this area, so this is a new normal from a market perspective,” Matt Vernon, head of consumer lending at Bank of America, told HousingWire.

“I think that is causing that clear inflection point in sentiment, where most Americans — or more Americans now — are thinking of homeownership as the preferred long-term choice.”

Refinance activity strong

Kyle Bass, production business manager at Refi.com, said that even with rates above 6.5%, more stability in recent weeks also seems to be supporting stronger refinance activity.

“For homeowners sitting on the sidelines, the question isn’t whether to refinance, it is whether you will be ready when the window opens,” Bass said. “This is why it’s more important than ever to prepare now. Those considering a refinance should complete the full pre-qualification process today, not because they’re ready to close, but because it reveals what needs to improve before they are, such as paying down credit card debt. Doing this now means you will be weeks ahead when rates reach your desired level.”

FHA loans, which represent about 17% of the mortgage market, also received a potential boost Tuesday when the U.S. Department of Housing and Urban Development announced a host of changes to the FHA’s single-family loan programs.

The U.S. Department of Housing and Urban Development (HUD) is rolling out 14 changes to the Federal Housing Administration (FHA)’s single-family mortgage insurance program, including less stringent appraisal rules, expanded flexibility for the 203(k) rehab loan program and simplified closing forms. 

The updates impact FHA policies across the origination, servicing, quality control and appraisal realms. HUD said the goal is to remove outdated requirements, reduce administrative work and make FHA financing more efficient for both homebuyers and lenders. 

This post was originally published on here

Many people in the housing industry are wondering why mortgage rates haven’t fallen even as oil prices have dropped from $111 per barrel to less than $73 today. The 10-year Treasury yield is at 4.48% and mortgage rates are near their yearly highs.

This is a fair question, and we have already discussed where mortgage rates should go now that the conflict in Iran is truly ending. Today, we’ll give you a brief take on how I view the 10-year yield and mortgage rates — and why, for now, everything looks all right to me.

Fed policy accounts for the bulk of yields, rates

When I speak at events, I always show the chart below and say that this represents the slow dance between the 10-year yield and the 30-year mortgage rate. What drives the 10-year yield in turn drives mortgage rates. And Federal Reserve policy is what drives 65% to 75% of the headline figure.

For years now, my theme for rates has been labor over inflation. In fact, from 2023 through present day, every time the 10-year yield is below 4%, it’s because the market believes the economy is slowing down and the labor market is at risk.

If the Fed cuts benchmark interest rates down to 3%, getting below 3.8% on the 10-year yield is difficult. We’ve been below 3.8% twice recently — once in 2023 and again in 2024. On both occasions, traders believed the labor market was breaking and yields shot back up when it became clear it wasn’t.

chart visualization

This is why I don’t forecast anything below 3.8% on the 10-year yield. To me, this is a recession premise or because the Fed has gotten more dovish than the market is basing neutral policy on.

chart visualization

We went into 2026 with questions about the labor market and assumptions that the Fed would price in two or three cuts. But now we have one rate hike priced in for 2026. This is why I’ve said that, once the U.S.-Iran conflict is over and the Fed becomes less hawkish, we should think of 4.46% to 4.48% as the base point for the 10-year yield until more data or clarity on the Fed arrives.

As I’m writing this, the 10-year yield is at 4.48%. So, to make this point short, the Fed has gone hawkish in a year where rate cuts were initially priced in.

No comment yet from the Fed on the conflict ending

The Fed had a lot to say about the conflict lasting longer and the risk to inflation from higher oil prices. In fact, it made the Fed in general much more hawkish. But now? Nothing much has been said about oil prices since they went back to $73 per barrel.

chart visualization

Now the Fed hawks can say that ending the conflict will make them less hawkish. Maybe over the next few days or weeks, this could help the 10-year yield as Fed policy becomes less restrictive in the marketplace. But until then, don’t expect a change.

In fact, Wall Street firms are now debating how many rate hikes we will see in 2026. Bank of America says there will be three.

Labor data is firm and core inflation is running hot

Going into the year, the Fed was going to ignore tariff-related inflation, which made the inflation data hotter than normal, as officials believed that a one-time price shock would filter out in the second half of 2026.

They might still hold this belief, but the Iran conflict gave them a reason to adopt a more hawkish stance. In general terms, the heat from the inflation data was simply too much to ignore, so all rate cuts for 2026 are off the table for now.

chart visualization

On top of that, recent labor market stabilization has made it easier for the Fed — even with oil prices rising — to not talk about rate cuts, as they see the labor market growing enough to keep the unemployment rate low. With oil prices moving much lower, the hawks can change their mind, but until they guide the market on that, bond traders will keep the 10-year yield closer to yearly highs than lows. If the unemployment rate were at 5%, we would have a different story, but that isn’t the case.

chart visualization

Conclusion

I know some people were anticipating that the 10-year yield and mortgage rates would drop right away with oil prices at $73 a barrel, but a lot has changed in 2026 beyond geopolitics. It is a huge win that this conflict is over and oil prices are down, but the Fed needs to get that message out if they want to quiet a lot of the more aggressive rate-hike talk that some market participants are forecasting.

With the conflict ending, maybe Fed officials can get back to discussing core inflation and when they think it will start to cool off. I can understand the frustration of housing market professionals on this topic — but for now, mortgage rates and the 10-year yield look right to me.

This post was originally published on here

EXCLUSIVE — Former New York Gov. Andrew Cuomo is taking aim at both legacy financial institutions and Washington gridlock, warning that the U.S. is wasting time on a technology that could significantly lower costs for working-class families.

Speaking exclusively with Fox News Digital about his new role as co-chair of a joint venture between fintech company OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), Cuomo detailed how a shift toward blockchain technology could help reduce costs for consumers by limiting reliance on traditional banking intermediaries.

“This provides basic financial services, you have an account, you can pay bills, you can transfer money. And you don’t have to deal with the traditional banking establishment, minimum requirements, overbalance of fees, etcetera,” Cuomo told Fox News Digital on Tuesday. “There are benefits across the board.”

“This is something that has been percolating for a long time, gestating, working through the tension that was first present between these companies and the traditional finance companies. We’ve now come to a general recognition that it has to be collaboration rather than competition,” he continued.

COINBASE C.E.O. SAYS CRYPTO BILL COULD TRANSFORM U.S. FINANCIAL SYSTEM AS SENATE VOTE APPROACHES

Cuomo argues that crypto is the latest chapter in America’s financial evolution. Much like the 1929 stock market crash helped lead to the creation of the Securities and Exchange Commission and the Enron scandal prompted corporate reforms, crypto’s early days are forcing a shift toward greater oversight. As co-chair of OKX and Intercontinental Exchange’s (ICE) efforts to build regulated digital markets, Cuomo said his goal is to merge Wall Street’s compliance framework with crypto’s 24/7 technology capabilities to tokenize mainstream equities and futures.

“When it first started, it was, ‘crypto was controversial,’” Cuomo pointed out, “but it was never about crypto. It was about the blockchain technology. And I think that’s what people missed for a lot of years. They got caught up in crypto and didn’t understand the potential of the blockchain.

“The SEC, obviously, is going to have to change with the times, but the blockchain will be so much more time efficient and cost-efficient. You don’t need the intermediaries. Literally, you could trade directly, and it can be a 24/7 market, and it can be a global market,” he added.

He also addressed the frustration of the average middle-class family that feels pocketbook pain from legacy banking institutions, ATM fees and slow transaction times. By expanding blockchain access through smartphones, he believes the technology can provide financial access to the unbanked and underserved.

“Besides the tokenized securities, in general on this platform, you have a wallet, you can deposit your currency in your wallet, you can make payments from your wallet. And… for the average consumer, that makes a tremendous amount of difference. There are virtually no transaction fees. Payment is direct, payment is fast for the average consumer,” Cuomo explained. “And then there are literally billions of people globally who have no access to any financial service.”

To unlock blockchain’s full potential, Cuomo is urging Congress to pass the CLARITY Act, which he says would set firm rules of the road.

“You can’t claim an industry is the Wild West when there’s no sheriff. That’s why it’s the Wild West, because there’s no sheriff and there are no laws,” he said. “You don’t have more time. The situation is already manifested. Businesses are operating. People are transacting business. This should have been done a decade ago. You don’t have the luxury of time. You have to respond, the government has to respond on a timely basis to the situation that is presented. It is happening.”

Cuomo further responded to criticism made by traditional financial elites – including JPMorgan Chase Chairman and CEO Jamie Dimon – who claimed the Act fails to meet federal banking standards. 

“Now, I think a lot of the traditional finance guys were saying, ‘Well, hold on, this can dramatically change the industry. We need to understand all the consequences for the existing industry, so let’s take time because this may upend my business,’” Cuomo said, “but… you’re not putting the blockchain back in the box. It’s out there. It is happening. So, yes, the evolution will create disruption in the marketplace, but that is also how you evolve. And what these companies have to get is either you evolve and thrive, or you remain stagnant and die. That’s the way of the market.”

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The former New York governor and attorney general emphasized how the new venture marries the stability of the NYSE with cutting-edge technology to keep America competitive on the global stage.

“What excites me most is this brings the two giants together… The New York Stock Exchange is the iconic symbol of the American finance system… it just epitomizes the evolution and now the [blockchain] collaboration and the synergy and the partnership.”

READ MORE FROM FOX BUSINESS

This post was originally published here

As American travelers feel the pinch of inflation and elevated airline costs, Delta Air Lines CEO Ed Bastian revealed exactly what it will take for ticket prices to decline, pointing directly to a lack of market supply rather than solely fluctuating fuel costs.

“People ask me all the time – what’s happening with prices?” Bastian told FOX Business’ Maria Bartiromo in an exclusive interview on Tuesday. “Prices will come down when we can fly more, when there’s more supply, it’s a supply and demand. Right now we’re kind of logjammed.”

“There’s not a lot of supply we can bring in because the air traffic control system is congested. As you open up the skies, and you bring more flow, that’s going to help bring pricing down and enable us to bring more people to more places,” he said.

After months of elevated prices due to conflict in Iran and the closing of the Strait of Hormuz, commercial traffic is ramping up in the key waterway after Trump and Iranian President Masoud Pezeshkian last Wednesday signed a 14-point memorandum aimed at ending the war. On Tuesday, President Donald Trump said that 19 million barrels of oil flowed out of the Strait of Hormuz the day prior.

JETBLUE CUTS BACK AT NEWARK, LAGUARDIA AIRPORTS AS AIRLINE SHIFTS FOCUS TO FLORIDA

“I think the initial shock, you know, prices went up about 10 to 15%, not just [at] Delta, across the airline industry. And I think that was probably the right level,” Bastian said. “Oil prices have come down now, so I think we’re in a pretty good spot.”

However, Bastian revealed that rising energy costs directly hit Delta’s bottom line by nearly $2 billion, forcing the airline’s hand in raising ticket prices.

“We had no choice,” he said, while also spotlighting how government spending accountability and deregulation could also bring ticket prices down.

“We have seen more progress being made to eliminate those bottlenecks and continue to allow aviation to flow smoothly in the last year and a half than we’ve had probably in the last number of decades. It’s that significant,” Bastian noted.

“I hope, as an American people, we continue to invest in that future. It’s probably the smartest investment that we can make, because what we’re doing is, we’re making the air flow more smoothly. We’re enabling people not just for safety – safety is always our top priority – but [allowing] for more flights,” which the CEO says ultimately mitigates customer costs.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Bastian also discussed how Delta has recaptured investment-grade ratings from all three major credit agencies, won back Berkshire Hathaway as a top shareholder and is expanding localized operations such as “Delta TechOps” into a multibillion-dollar third-party maintenance powerhouse.

“We’re going to get to a point here in the next couple of years where our balance sheet will be a fortress balance sheet, something that’s never really happened in our industry to that point,” he said. “This is the industry that the U.S. holds as the gold standard… So whether it’s Boeing, whether it’s our airlines, our aviation space, our technical prowess and know-how, we’re the gold standard.”

READ MORE FROM FOX BUSINESS

Fox News’ Greg Norman-Diamond and Emma Bussey contributed to this report.

This post was originally published here

Standing outside 10 Downing Street on Monday, Keir Starmer announced he will step down as Britain’s prime minister and leader of the governing Labour Party, ending a turbulent run less than two years after a landslide election win. Starmer said he had informed King Charles III of his decision and would stay in office until Labour chooses a successor, with nominations opening July 9 and the contest completed by the summer recess on July 16. “I have heard the answer of my parliamentary party,” he said, acknowledging he had lost its confidence.

His exit sets up a familiar scene: another handover at the top of British government. Whoever wins is set to become the United Kingdom’s seventh prime minister in a decade — a churn that has defined the country’s politics since the 2016 vote to leave the European Union.

The clear front-runner is Andy Burnham, the popular mayor of Greater Manchester, who returned to Parliament by winning a June 18 special election in suburban Manchester. With former Health Secretary Wes Streeting dropping out and backing him, Burnham could take the Labour leadership uncontested and enter office in late July. A Labour MP under former Prime Ministers Tony Blair and Gordon Brown, Burnham built his reputation as mayor by steering growth into once-blighted post-industrial areas.

The timing is striking. Starmer’s resignation landed on the eve of Tuesday’s 10th anniversary of the Brexit referendum, and the reckoning over that vote is again front and center. The pressure that toppled him built for months: Labour was hammered in May’s local elections by the rising anti-immigration Reform UK party, led by Nigel Farage, and Starmer’s approval ratings had sunk to record lows as voters complained they had felt no real change.

That stalled progress is rooted partly in the economy. A new analysis drawing on Bank of England corporate data, led by Stanford economist Nicholas Bloom, estimates Brexit reduced UK GDP by 6% to 8% by 2025, with investment down 12% to 18%, and productivity and employment each off 3% to 4%. Bloom tied the damage to elevated uncertainty, reduced demand, diverted management time, and misallocation from a protracted Brexit process. Britain’s official forecaster, the Office for Budget Responsibility, assumes Brexit will permanently cut both imports and exports by about 15%.

Not every economist agrees on the size of the hit, and the figure is genuinely contested. The OBR’s official working assumption is that Brexit leaves UK output about 4% lower than it would have been — a number it reached by averaging earlier studies rather than producing its own research. Economist Jonathan Portes puts the realistic range at 4% to 5% of GDP, or roughly £120 billion to £150 billion a year, calling Brexit a “slow-burning drag” rather than a catastrophe. Others argue the costs have been overstated, noting that UK growth since 2016 has matched France and run at double the rate of Germany.

For ordinary Britons, the effects show up in prices. A weaker pound after the referendum pushed up import costs, with consumer prices estimated to have risen about 2.9% as a direct result. The promised upside has been modest: new trade deals with Australia, New Zealand, India, and Japan are trivial next to UK-EU trade, which was worth about £856 billion last year.

The backdrop for Burnham, should he take over, is an economy still under strain. The Bank of England held its key interest rate at 3.75% on June 18, declining to raise it even as inflation stayed elevated, lifted partly by higher energy prices from the recent U.S.-Iran conflict. That leaves Britain’s next leader facing the same knot that frustrated his predecessors: weak growth, stubborn prices, and a public running short on patience.

Whether Burnham can break the cycle — or simply becomes the seventh name on a long list — will hinge on whether he can lift growth in a way voters actually feel. That, more than any leadership contest, is the test that has defeated nearly everyone who has held the job since 2016.

JBizNews Desk | New York

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

Prime Minister Benjamin Netanyahu warned Likud’s Central Committee Chairman Haim Katz that he would leave the party if his demand for 10 reserved seats in the next election is not accepted, Likud sources told Maariv.

According to the sources, Katz believes that Netanyahu’s demand could “crush the Likud,” while Netanyahu argues that the current crisis could cause serious damage to the party.

The sources also said that the statements were conveyed indirectly and are part of the negotiations within the party to determine the framework of Likud’s primaries.

Additionally, the sources explained that a split within the Likud would only benefit the opposition, saying that “a lot of champagne will be spilled” in the headquarters of Gadi Eisenkot, Avigdor Lieberman, and Naftali Bennett if this were to happen.

According to a Tuesday report by Kan News, Netanyahu is looking into reserving spots on the Likud party list for Foreign Minister Gideon Sa’ar and former Finance Minister Moshe Kahlon in the top ten slots.

Bitan warns against Netanyahu’s actions

Likud lawmaker David Bitan said on Monday in an interview with 103FM that Netanyahu’s handling of the party’s preparations for the coming elections was wrong, especially on the issue of reserved spots on the Likud slate.

“What I’m saying is that this method of the arrangement committee is not suitable for Likud,” he said.

“Likud has been based on democracy all these years. The whole foundation of Likud is the connection between the elected officials and the members of the central committee, and that gives the party life,” he added.

Bitan warned that Likud’s system can’t be changed a month before the primaries, explaining that even if Netanyahu would “like to be like the other parties,” that it is “not suitable for Likud.”

Bitan went on to recall Netanyahu’s own entry into Likud: “Thanks to the democratic process back then, Netanyhu entered Likud.” Asked whether Likud could disappear without a primary system, he said, “Within eight years, in my opinion, yes.”

Bitan believes Netanyahu won’t step down

Bitan ruled out the possibility of Netanyahu stepping down: “I don’t see such a situation; he is a fighter by nature. When we lost the elections and the Bennett-Lapid government came to power, Netanyahu stayed in the Knesset until he made a turnaround.”

He also lashed out at US President Donald Trump’s conduct: “Trump is doing harm to Likud, that is completely clear in terms of his conduct, but we will know how to deal with it,” he said. “It is harmful, there is nothing to do, first of all to the State of Israel, and after that to Likud.”

In addition, Bitan said he expects the war with Iran to recur repeatedly: “Once every year and a half or two years. We will always have to deal with their missile buildup; they threaten us with it all the time. It’s not that every day we will wake up with some missile, but once every two years, we will need to prevent the buildup; we will have no choice.”

This post was originally published on here

Former Prime Minister and chairman of Together, Naftali Bennett, shared a comprehensive plan detailing the steps he’d take as prime minister to “build Israel from scratch” in a press conference on Tuesday.

Bennett described his plan, named the ‘New Covenant,’ as “a foundational plan to repair the state,” and said he would “fix every major area of life in Israel.”

“The agreement between the state and its citizens has been broken. The last government destroyed many state institutions, and they can no longer simply be repaired – they need to be dismantled and rebuilt,” Bennett said. 

According to Bennett, Israel’s next government should be “a founding government, a [David] Ben-Gurion-style government,” and said that he has spent the past two years working with professionals in various aspects to build plans addressing the core problems facing the country.

“The instruction I gave them was: How would you build an excellent state from scratch?” he said.

Bennett’s plan includes higher educational standards, crackdown on ‘ultra-Orthodox state’

Regarding education, Bennett called for a “public education at the level of a private school.

“Today, the state spends an average of about NIS 50,000 per child,” he stated. “That is the cost of a private school, without the quality of a private school.”

The education reform would completely dismantle and rebuild the Education Ministry, focusing on “shutting down unnecessary mechanisms, and direct the money to children, classrooms, and teachers.”

Bennett referred to the state’s current relationship with the haredi community as “a slow-motion suicide.”

“We will dismantle the ultra-Orthodox state within a state and build one Jewish, democratic, prosperous, and strong state.” he said.

Bennett noted that the haredi community teaches anti-Zionist ideology, and said the New Covenant would “turn off the funding tap for education that harms the state and provide an excellent alternative.”

Bennett vows to build new security cabinet, break up ‘food cartels’

“We will launch an all-out war against food cartels,” Bennett declared, referring primarily to the Chinese company Bright Food, which owns Tnuva and, according to Bennett, instructed its Israeli management to “raise prices, squeeze as much as possible until the public cries out, and then keep squeezing.

“Foreign interests have penetrated the food market, and they are succeeding because there is no competition. We will break them up and lower prices,” he said.

Bennett stated that politicians have lacked the courage to confront monopolies in Israel, but he would work to reform Israel’s economy as soon as he is in power.

“I say from here to the Chinese owners of Tnuva, to Shufersal, Unilever, Diplomat, and everyone else: On my first day in office, the party is over.”

Bennett stated that as leader, he’d work with the IDF, Shin Bet, and all law enforcement branches to build a new security cabinet, using the “Al Capone method” – which refers to taking down major criminals by pursuing them through smaller offences, such as tax evasion, rather than violent, harder-to-prove crimes – to fight organized crime.

“Protection rackets, shootings in the streets, and the takeover of entire areas are terrorism and a threat to national security, and I will officially declare them a national security threat, not merely a criminal one,” he said.

“We started this during the government I led, with great success, and we will soon continue the work and do it faster and more forcefully.”

Plans to ‘restore security’, devolve authority to local governments

Bennett stated he would recruit 20,000 additional soldiers to the IDF that are “so desperately needed in order to win,” and called to adopt a policy of zero tolerance regarding Israel’s enemies.

“We will restore security and move from rounds of escalation to decisive victory. Not a drone. Not a rocket. And certainly not force build-up.”

Bennett also said he would work to end Israel’s diplomatic isolation, working with regional allies to “shape the destiny” of the Middle East.

“In the realm of public perception, we will get rid of the TikTok ministers who are causing us damage and establish a national public diplomacy body. Just as we have the excellence of Unit 8200, there will be an 8300 that can compete with Qatar, Iran, and Israel’s enemies around the world.”

Finally, Bennett slammed the current government’s lack of accountability, saying he would manage the country the way he managed companies.

“Citizens will receive excellent service because we will run the government according to high-tech standards, with measurable KPIs, personal accountability, and transparency,” he said.

The plan would include closing seven government ministries, devolving authority to local governments, and making political appointments based on professional merit, not personal favors.

“Ministers will be accountable to you and work for you, not for party primaries.”

This post was originally published on here

Former prime minister Naftali Bennett warned on Tuesday that Israel’s relationship with the United States had entered a precarious period, saying Jerusalem must rebuild its image in America and stop assuming that support from President Donald Trump alone can secure the alliance.

Speaking at the JNS International Policy Summit in Jerusalem, Bennett said Israel’s public standing in the US had deteriorated sharply, arguing that “Brand Israel” was now viewed negatively by many Americans for the first time since the state’s founding.

“That’s a disaster,” Bennett said, adding that the trend “totally distorts good and bad, right and wrong,” but must be treated as a strategic reality.

Bennett, who heads the Together list and is seeking to challenge Prime Minister Benjamin Netanyahu in the upcoming election, said Trump remained a strong supporter of Israel. He cautioned, however, that Israeli policy could not rest on the personal sympathy of a single president.

“A nation cannot base its long-term strategy on a president who currently supports Israel,” Bennett said during a conversation with Jennifer Sutton, executive director of the Council for a Secure America.

Israel has neglected public diplomacy for too long, Bennett told the audience

His comments came amid growing Israeli concern over the direction of US policy in the region, including Washington’s handling of Iran, Lebanon and Hezbollah, and the wider shift in American public opinion toward Israel since the October 7 Hamas attacks and the wars that followed.

Bennett blamed part of the damage on the conduct of the current government, saying Israel needed ministers who understood the importance of responsible messaging abroad. He called for the creation of a serious national public diplomacy system that could push back against anti-Israel narratives in the US and elsewhere.

Israel, he said, had failed to treat public diplomacy as a strategic arena. Were the country a public relations firm, Bennett added, he would not hire it.

The former premier also pointed to Qatar as an example of a country that had invested heavily in influence operations and international messaging, saying Israel should learn from that model and use it for a positive purpose.

Bennett said rising antisemitism around the world had reached levels he had not expected to see, warning that hostility to Israel was feeding broader threats to Jewish communities.

To repair the situation, he said Israel needed a “big, broad, Zionist, bipartisan government,” adding that he hoped to lead one.

No more ‘terror empires’ along Israel’s borders

Bennett also addressed Israel’s security doctrine after October 7, saying the country could no longer allow large terrorist organizations to build military infrastructure on its borders.

“You have to prevent the monster from being built to begin with,” he said, referring to Hamas in Gaza. Israel, he argued, could not rely only on border guards or defensive barriers once terrorist armies had already been established.

“We can’t allow huge terror empires to be built in Lebanon, in Gaza or along any of our borders,” he said.

On Lebanon, Bennett criticized what he described as American restrictions on Israel’s freedom of action against Hezbollah. He said Israel valued its friendship with Washington, but rejected any arrangement in which Israeli soldiers were told they could not defend themselves.

“Israel is not a client state or a vassal state,” Bennett said. “Israel is a friend, an ally of the United States of America.”

He said Israel had both the right and the duty to act in Lebanon when Hezbollah threatened Israeli forces or communities.

Turning to Iran, Bennett said recent regional fighting had shown Arab states and Israel that Tehran remained the central destabilizing force in the Middle East. He described the Iranian regime as “rotten,” “old,” “disconnected” and “incompetent,” and predicted that it would eventually collapse.

Bennett said regional states should work together to accelerate that collapse, comparing the approach to the pressure applied by US president Ronald Reagan against the Soviet Union during the Cold War.

He also said he had previously advanced an effort to help Iranian protesters access the internet through Starlink technology, but claimed that the current government had failed to follow through.

Bennett voiced strong support for the Abraham Accords, saying Israel and moderate Arab states had a shared interest in countering radical Islamist forces.

He also sought to frame his own politics as firmly right-wing while distancing himself from what he presented as ideological recklessness.

“I’m a right-wing guy, but I’m not a schmuck,” Bennett said. He said being right-wing means standing firmly for Israel’s national interests, opposing a Palestinian state, refusing to give up land and running an effective government focused on results.

Bennett said that, should he return to the Prime Minister’s Office, he expected to work well with Trump, describing both men as business-oriented leaders who value practical solutions.

This post was originally published on here

Iran’s missiles were not in the Memorandum of Understanding (MoU) signed with the US and “will never be,” Iranian President Masoud Pezeshkian said at a joint news conference with Pakistan’s Prime Minister Shehbaz Sharif in Islamabad on Tuesday.

Iran will never negotiate its defense capabilities with any country and strongly believes that regional peace and stability can only be achieved through honest discussions and intraregional cooperation, Pezeshkian added.

Earlier, an Iranian envoy said that Tehran alone will decide how to use assets unfrozen under a deal with the United States, denying that Washington would have any control over the funds or that they must be used to buy US commodities.

The US waived sanctions on Iran for 60 days starting Monday after talks in Switzerland aimed at turning an interim deal into a lasting peace agreement. Frozen Iranian assets worth about $12 billion are expected to be released under the initial accord.

Vice President JD Vance said on Monday that the US and Qatar would have control over the funds once they are unfrozen, and that the money ⁠could be ​spent on US corn, soy, and wheat.

Ali Bahreini, Iran’s ambassador to the United Nations in Geneva, said on Tuesday the two sides had held “very good talks” but challenged Vance’s statement on the use of the assets.

“Iran is the only country to decide what to do with its assets, which are going to be defrozen, and so I reject any claim about that if there would be any role for any other country to have an influence on those decisions or on those processes,” Bahreini told reporters in Geneva.

This post was originally published on here

Migrant workers in Israel generally followed Home Front Command instructions during the June 2025 war with Iran when they were able to do so, but access to shelters, clear information, and support was uneven, particularly among workers in agriculture, construction, and live-in care, a new report by the Center for International Migration and Integration (CIMI) found.

The report, based on a July 2025 survey of 1,502 migrant workers from seven countries of origin and seven employment sectors, examined physical safety, job security, and workers’ own sense of safety during the 12 Day War.

CIMI is an independent nonprofit established by JDC Israel in 1998. It works on migration policy and migrants’ rights and operates the Foreign Workers Information Center for the Population and Immigration Authority.

At the time of the escalation, the report said, around 150,000 migrant workers were in Israel, largely in construction, agriculture, caregiving, and hospitality – sectors in which many workers rely on employer-provided housing and are tied to a particular employer through their visa status.

The survey found that most workers reported access to a protected area at both home and work, but the figures varied sharply between groups. Among Thai agricultural workers, only 32% said they had full access to a protected space in both settings within the required warning time, while 9% said they had neither.

Data shows respondents generally entered shelter when it was made available

One agricultural worker wrote: “In our community, there is only a trench, no shelters nearby. More shelters need to be built.” Another said an employer kept workers in an open area “even when explosions could be heard.”

The report said that 99.2% of respondents who reported at least partial access to a protected space said they entered it during sirens, suggesting that the main gap was not workers’ willingness to follow instructions but whether the necessary conditions existed to do so.

Live-in caregivers faced a different problem. One respondent said, “I cannot leave the patient even during an alarm. She is 94 and has dementia.”

Overall, 87% of respondents said they received safety instructions during the escalation, although access to clear information differed substantially by country of origin. The report said this suggested that information often traveled through language and community networks rather than consistently through employers or sector-wide mechanisms.

Employment patterns were also divided by sector. Across the sample, 67% said they worked every day during the fighting, 18% worked only part of the time, and 13% stopped working, mostly temporarily. Agriculture, caregiving, and industry showed the highest continuity, with 92% to 97% reporting daily work.

But the report cautioned that continued employment did not necessarily mean workers felt secure. “The work goes on even when there are missiles,” one agricultural worker said. “The employer says, ‘It’s okay.’”

Construction workers reported more interruptions, while hotel workers reported the sharpest disruption. Among respondents who did not work every day, 60% said they had been told not to come in and 33% said their employer had temporarily stopped operating. A hotel worker described the immediate consequence: “The hotel was closed for two weeks. I did not receive pay. No work, no money.”

Report recommends better outreach in the future

The report’s central finding was that workers’ subjective sense of safety was more strongly associated with considering departure from Israel than physical or employment conditions alone. Half of respondents who reported a very low sense of safety said they were considering leaving, compared with 3% among those who reported a very high sense of safety.

Local support appeared to matter. Some 69% of all respondents said they had a person or organization to turn to in an emergency, but the level varied significantly between groups.

Workers who had such a contact reported higher levels of safety, while high concern among family members abroad was associated with lower safety scores.

CIMI recommended moving beyond translated emergency notices toward sector-specific instructions for workers in open fields, temporary housing, construction sites, and caregiving roles. It also called for stronger links between official information channels, employers, community groups, and aid organizations, as well as targeted outreach to groups less connected to existing networks.

The report stressed that its findings are not representative of all migrant workers in Israel. The voluntary survey was distributed online through digital worker groups. Those with limited internet access, those outside such groups, and those who had already left Israel were not included.

It also said that, because the survey measured respondents at one point in time, it could show associations between safety and considering departure, but could not establish that one caused the other.

This post was originally published on here

Nancy Guthrie, the 84-year-old mother of Today Show anchor Savannah Guthrie, died after her abduction at the end of January, according to investigators interviewed by CNN, citing a note sent to the media shortly after her abduction.

The note reportedly followed an initial ransom letter demanding millions of dollars in Bitcoin in exchange for Guthrie’s return. The second note explained that Nancy had died shortly after she was abducted, though not the kidnappers’ intent,  according to investigators interviewed by CNN.

On February 7, the Guthrie family responded to the abductors. 

“We received your message, and we understand,” they said in a statement 

Only CNN and a local news station in Tucson, Arizona, where she lived, were reported to have known about the second letter.

Guthrie’s remains have still not been recovered; however, the Pima County Sheriff’s Department told reporters that the investigation “remains active and ongoing.”

“The Pima County Sheriff’s Department continues to work closely with the FBI as investigators follow up on leads, review information, and pursue the facts surrounding this case,” a spokesperson for the sheriff’s department said. 

CBS reported that law enforcement asked media outlets to refrain from publishing details of the notes while officials investigated Guthrie’s disappearance.

When did Nancy Guthrie’s disappear?

Nancy Guthrie was reported missing in January, after she was dropped off by relatives on a Saturday and missed an online church service the next day.

The initial ransom letter, demanding millions of dollars in bitcoin, was sent to Nancy’s daughter, NBC’s Today Show anchor Savannah Guthrie.

Only now has it become public knowledge that a second note was sent to the family and media outlets in February apologizing for the unintended death of Nancy Guthrie, who was reportedly in poor health at the time.

Savannah Guthrie stepped away from the Today Show for two months, returning in late April, as the investigation into her mother’s abduction continued.

This post was originally published on here

An ongoing nationwide survey revealed a significant improvement in mental health among Israeli young adults since the outbreak of war in 2023, although nearly a quarter of those surveyed reported severe impairment in daily functioning.

The survey, conducted by Clalit Health Services, Israel’s largest health organization, and Myers JDC Brookdale Institute (MJB), showed clinical levels of symptoms like depression, anxiety, and PTSD dropped from 51% to 34% over the last two years, although one in four surveyed reported “severe impairment in daily functioning.”

Throughout the study, young adults in Israel consistently reported worsening mental health and its impact on their daily ability to function. Some 20% of those aged 18-34 reported severe impairment in executing their day-to-day tasks.

The data suggested that while many young Israelis may be adapting psychologically to prolonged conflict, a substantial minority remains unable to fully return to normal life.

Clalit’s post-Oct.7 work is beginning to ‘show results’ says senior director

“The findings suggest that the extensive efforts undertaken by Israel’s healthcare system since October 7, including proactive and responsive mental health programs led by Clalit, are beginning to show results,” said Prof. Ran Balicer, deputy director-general and chief innovation officer at Clalit.

“Rates of significant symptoms are clearly declining, especially among younger adults. However, we must not be complacent. The years between 18 and 34 are when people build the foundations of adult life, including education, careers, relationships, and families.”

Hadar Samuel, a researcher at MJB, added that this study was especially groundbreaking for social sciences because it “looks beyond symptoms and examines their real-world consequences.”

“The connection between psychological distress and impaired functioning provides a deeper understanding of the war’s impact on the population.”

The researchers highlighted that although the decrease in symptoms among young Israelis was encouraging, the nearly one in four experiencing severe impairment to their daily functioning underscored the need for accessible age-specific mental health services.

This post was originally published on here

Washington’s memorandum of understanding (MoU) with Mohammad Bagher Ghalibaf represents a flawed strategy: at the moment when the Islamic Republic was militarily weakened and politically exposed, Washington appears to be granting the regime what it values most: time. This arrangement allows the IRGC power structure to move from crisis survival to post-strike consolidation.

The question is whether Washington understands the relationship between coercive pressure and a defined political end-state. The regime was weakened, struck, and forced into a defensive posture nearing collapse, yet Washington has hesitated to define what must replace it.

This is the recurring failure in Washington’s Iran policy. Washington treats factional variation inside the regime as a strategic opportunity, when in reality it is a regime preservation mechanism. The Islamic Republic has long used its manufactured factions to manage external pressure.

Time is the regime’s greatest asset

Ghalibaf is not a moderate, nor is he a figure with a national base inside Iran. The deal with Ghalibaf does not represent a transformation away from the regime. Ghalibaf’s function is precisely to offer Washington a “rational” interlocutor through whom the system can rebrand itself and demonstrate a facade of change.

He is the same IRGC official involved in torturing and murdering university students in July 1999, when the IRGC, Basij, and the police threw students off the rooftops in Tehran University dormitory. At the time, Ghalibaf was the commander of the IRGC’s air force. He later took pride in his involvement in suppressing the students in a 2013 speech.

The regime has correctly identified the center of gravity of Washington’s weakness: the absence of a declared political end-state during the war. Washington has applied pressure, but pressure without an end-state creates exploitable ambiguity. 

Ghalibaf’s maneuver must be read through that framework. Dealing with a securitized regime actor means the preservation of the same rogue regime that produced the crisis in the first place. The regime’s objective is survival until US President Donald Trump’s term ends.

Evolutionary adaptation: A harder regime

Credibility is not an abstract moral asset. It is a strategic capability. Allies calculate reliability through demonstrated consistency between declared objectives and operational behavior. Adversaries calculate risk through observed willingness to sustain pressure beyond the first phase of confrontation. 

If Washington signals support for regime change, applies force, and then negotiates a pathway that results in regime survival, every hostile state will learn a clear lesson: American escalation can be absorbed if one can survive long enough to exploit Washington’s search for an exit ramp.

The regime, in particular, would not just survive. Its near-death experience would turn into an evolutionary adaptation. A regime that endures sustained American and Israeli strikes but secures a political reprieve would study the experience, harden its institutions, decentralize political and military command nodes, refine internal repression, and immunize itself against future conflict. 

The next war would not face the same vulnerable adversary. It would face a regime that has absorbed the lessons of Washington’s hesitation.

It is also a significant risk in alienating Israel, the United States’s combat ally in this confrontation. Israel correctly understands the regime not as a negotiable irritant, but as a systemic and existential threat that cannot be incentivized to normal behavior. 

When Washington drifts toward accommodation with a securitized regime insider while Israel remains committed to dismantling the threat in its entirety, alliance cohesion and operational synergy suffer.

Trump’s original strategy was powerful

President Trump’s earlier posture toward Iran was strategically significant because it departed from Washington’s recurring pattern. He told the Iranian nation that help was on the way. He encouraged Iranians to take over their institutions and signaled Washington’s support for their uprising. 

Trump’s original strategy followed that declaratory policy: weapons were sent – even though they were stolen by Kurdish militia – and the regime was struck militarily at its highest levels. This signaled Washington’s political resolve: the regime must go.

Once the greatest military power publicly aligns itself with a nation in revolt and applies force against the regime suppressing that nation, credibility becomes inseparable from resolve. Reversing course at the regime’s weakest point – under the influence of advisors favoring de-escalation – is a blow to the image of the United States as the hegemon.

The only explanation that renders this MoU logical is if the Trump administration is pushing for managed surrender under the guise of negotiations. That would mean a strategy ending in regime collapse and transition, not preservation by a regime insider. 

Otherwise, if the substance of the arrangement is sanctions relief and the release of billions of dollars, its logic is not transformation but rescue; even the regime officials whom American and Israeli militaries took out would have accepted those terms enthusiastically.

A legacy defining decision

The silence of key administration figures such as Secretary of War Pete Hegseth and Secretary of State Marco Rubio is notable because it reflects the political sensitivity of the MoU. Their absence from the public defense of the MoU suggests, at minimum, an unwillingness to publicly own an arrangement that could preserve the regime after American firepower brought it to the edge of defeat.

US Vice President JD Vance, by contrast, appears to be driving this disastrous Iran policy. His approach is presented as de-escalation, but de-escalation is not the same as strategic discipline. Nor is this an America First policy. It is transactional isolationism – and only a caricature of it. 

Footage from Switzerland tells the tale, whereas Vance only received the isolation. An America-first policy should not rescue an anti-American regime at the moment of maximum vulnerability. And it should not pressure allies while granting survival space to adversaries. Trump should not allow his legacy to be overshadowed by that misjudgment.

Pahlavi: Legitimacy and governance

Iran is not Venezuela – a Delcy Rodríguez model does not work. Legitimacy cannot be bought with foreign support or diplomatic arrangements.

The correct policy is to support regime change under the leadership of Crown Prince Reza Pahlavi, who has a demonstrated capacity to mobilize Iranians inside Iran and across the diaspora. Pahlavi provides what others cannot: legitimacy beyond the regime, a counterpart to Washington, and a complete framework for regime change that results in a stable transition and governance. 

A post-Islamic Republic Iran would become a durable American ally – and even enable the building of a permanent American military base in Iran.

The regime is at its weakest, politically and militarily. The Iranian nation is ready to overthrow the regime under Pahlavi’s leadership. The strategic opportunity exists. 

Trump must choose between allowing the regime to rebrand or victory through regime change. Anything but the latter is retreat.

The author holds a PhD in international relations from Queen’s University.

This post was originally published on here

The East Village is sometimes hard to recognize today; busy restaurants and nightlife demand more attention than colorful neighbors, landmarked buildings, and tree-shaded community gardens. But the trees and gardens are still here, and this townhouse at 746 East 6th Street, asking $5.5 million, is a fine example of an Alphabet City property on a classic neighborhood block, with plenty of ways to enjoy the Village vibe.

Available for the first time in over 20 years, this well-maintained, owner-occupied two-family townhouse will be delivered vacant and move-in-ready. Measuring 22 feet wide by 42 feet deep on a 97-foot lot, the townhouse is currently set up with two large three-bedroom duplex homes.

You get the flexibility of rental income, family space, or the chance to create one large home. Both units are separately metered with independent systems for heat, hot water, and central air conditioning.

Enter the lower unit of the duplex via the stoop, onto the parlor level. Within, a laid-back and lofty living area with ceilings over 10 feet is served by an open kitchen. This unit has central air conditioning throughout and a washer/dryer.

The colorful kitchen, anchored by a hefty dining island, features countertops of green marble, Scandinavian-inspired cabinetry, a Miele dishwasher and fridge, a Wolf range, and a double wall oven. At the back, a deck leads to a planted garden below, shaded by a mature maple tree.

Downstairs are three windowed bedrooms. The primary suite has access to the garden. Two additional bedrooms share a second full bath.

The upper unit is accessed through a separate entrance. Up a flight of stairs, a large, open living space consisting of a lounge, kitchen, and dining area occupies the lower floor, along with a full bath and laundry facilities. At the rear, glass doors open onto a wide, elegant terrace.

On the second level of the upper duplex are three bedrooms and two baths. A sprawling primary bedroom suite gets a working gas fireplace. Two rear-facing bedrooms share a second bath. This unit also has a second outdoor space in the form of a finished roof deck.

The well-maintained home sits on a leafy, surprisingly quiet East Village block. Tompkins Square Park is nearby, as is the East Village waterfront and East River Park. The property is located within an R8B zoning district and Opportunity Zone, offering 5,504 square feet of unused development rights for a potential future expansion.

[Listing details: 746 East 6th Street at CityRealty]

[At The Corcoran Group by Glenn E. Schiller and Laura Kastner]

RELATED:

The post This $5.5M two-family townhouse is classic East Village living at its best first appeared on 6sqft.

This post was originally published here

The federal government can’t block benefits from the nation’s largest food aid program from being used to buy candy, soda and other sugary drinks, a judge ruled.

Monday’s ruling scuttles restrictions now in place or planned for the federally funded and state-run Supplemental Nutrition Assistance Program in 23 states. President Donald Trump’s administration has not said whether it will appeal to a higher court.

Read the rest…

This post was originally published here

A Chinese supercomputer system surpassed an American computer for the world’s fastest, according to an industry list published in Hamburg, Germany, on Tuesday, giving China the edge over the U.S. with the fastest supercomputer for the first time since 2017.

LineShine, a system built by the Shenzhen Cloud Computing Center in China, took the crown from El Capitan, a supercomputer housed at the Lawrence Livermore National Laboratory in California, which had reigned supreme since November 2024.

The last time China held the top spot was in 2017, when the Sunway TaihuLight was ranked No. 1. The U.S. had held the top spot consistently since dethroning Japan’s Fugaku in 2021.

MICROSOFT CEO SATYA NADELLA’S WARNING ABOUT THE AI RACE

LineShine, unlike the majority of high-end supercomputers, is not powered by graphics processing units (GPUs) such as the ones made by chip manufacturer Nvidia. The new compute champion, instead, runs on standard central processing units (CPUs). In total, LineShine runs on over 13 million CPUs, according to the TOP500 List.

The TOP500 List uses a metric called the High Performance Linpack (HPL) benchmark to measure supercomputer performance. Evaluating a computer along this benchmark involves making the system run a protracted series of calculations, pushing the system to its limit in an attempt to ascertain how much computing it can actually do.

“This performance does not reflect the overall performance of a given system, as no single number ever can. It does, however, reflect the performance of a dedicated system for solving a dense system of linear equations,” the TOP500 list writes on its website.

APPLE CEO TIM COOK WARNS OF “UNAVOIDABLE” PRICE HIKES AMID AI-DRIVEN CHIP CRUNCH

Using this benchmark, TOP500 determined that LineShine performed 20% better than El Capitan.

LineShine’s entrance onto the list also made it the fifth supercomputer in the world to demonstrate exascale capacity, meaning it can perform one quintillion calculations per second.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

While China nabbed the top spot, the U.S. still dominated the rankings overall, holding the second, third and fourth spots with El Capitan, Frontier and Aurora.

The Chinese computer’s debut on the list comes one day after President Donald Trump signed an executive order related to quantum computing, moving the U.S. to upgrade its efforts in the emerging technology that some experts say will transform the computing landscape.

This post was originally published here

Federal safety regulators have taken over the investigation into a deadly Tesla crash in suburban Houston, escalating a local tragedy into a national test of the company’s driver-assistance technology. On Monday, June 22, the National Highway Traffic Safety Administration said it is launching a special crash investigation into a Tesla Model 3 that left a residential road in Katy, Texas, on Friday evening and slammed into a brick home at high speed, killing a 76-year-old woman inside. The driver told sheriff’s deputies the car was operating with an automated driving assistance system at the moment of impact.

According to the Harris County Sheriff’s Office, the driver, identified as Michael Butler, was traveling around 8 p.m. when his Model 3 failed to stay in its lane, ran off the road, missed a turn and tore through the wall of the house. The victim, Martha Avila, was standing in the front room of the home she shared with her daughter, son-in-law and three young grandchildren. She was pinned in the wreckage, airlifted to a hospital and later died; no one else was hurt. Butler, who was injured, showed no signs of intoxication and is cooperating, and no charges had been filed as of the weekend.

The driver’s claim that a driver-assistance system was engaged has not been independently confirmed. Investigators say they will pull the vehicle’s event data recorder and onboard logs to determine whether a driver-assistance feature was active, how fast the car was going, and what the driver did in the final seconds. A neighbor estimated the Model 3 was moving 60 to 70 miles per hour through the residential street, and a doorbell-camera video captured the car plowing through the home’s front wall.

NHTSA’s involvement federalizes a case that began with the county’s vehicular crimes unit, and it lands on top of mounting scrutiny of Tesla’s technology. In March, the agency upgraded its investigation into Tesla’s Full Self-Driving software to an Engineering Analysis covering roughly 3.2 million vehicles — the last procedural step before regulators can demand a recall — spanning 2017-through-2026 Model 3 sedans, the same model involved in the Katy crash. A separate open review covers about 2.88 million Teslas over reports of the system running red lights and drifting into oncoming lanes, and the company has faced questions about whether it properly reported earlier crashes. In all, NHTSA has opened more than 40 special crash investigations into Tesla incidents tied to its driver-assistance features.

There is a naming wrinkle. Tesla stopped using the “Autopilot” label on new vehicles in January 2026 after a California ruling pushed it to drop the marketing, but millions of older cars still carry the software. Whether the Katy car was running Autopilot or FSD (Supervised) depends on its age. Both are so-called Level 2 systems that require an attentive human driver at all times; neither makes a Tesla autonomous.

The business stakes are substantial. Full Self-Driving is a commercially active product that Tesla sells for $99 a month, and a defect finding could force a costly recall while undercutting the company’s robotaxi ambitions, which hinge on public and regulatory confidence in the same technology. The fatality also arrives at a politically charged moment. Tesla, led by Elon Musk, has been pressing the Trump administration to loosen federal safety rules for automated vehicles, and NHTSA Administrator Jonathan Morrison has signaled that 2026 would be a major year for self-driving rulemaking aimed at clearing regulatory barriers. Musk’s earlier government cost-cutting effort had also trimmed NHTSA staff with expertise in evaluating autonomous-vehicle safety.

For now, the central question is factual: was a driver-assistance system actually engaged, and if so, what did it do? The data recorder is expected to settle it, and NHTSA’s involvement makes that evidence far more likely to become public. Either way, a federal fatality investigation tied to Tesla’s flagship software raises the regulatory and financial pressure on the company at exactly the moment it is trying to convince Washington — and the public — that its cars can be trusted to drive themselves.

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

Investor activity in the U.S. housing market remained resilient in 2025 even as overall home sales fell to one of their lowest levels in decades, according to a report released Tuesday by Realtor.com.

Investors purchased roughly 534,000 homes last year, a 0.7% increase from 2024, while their share of all home purchases rose to 11.3%, up from 11% the prior year, according to the report.

By comparison, home purchases by non-investors declined 2.1% year over year.

At the same time, investors sold fewer properties for the first time in two years. Investor sales fell 1.5% to 442,000 homes, the lowest level since 2020, suggesting that investors are no longer shedding properties accumulated during the pandemic-era housing boom.

“The investor market has found a new equilibrium,” Hannah Jones, senior economist at Realtor.com, said in a statement. “With small investors now comprising nearly two-thirds of all investor purchases and large institutional players continuing to pull back, the dynamics shaping competition in entry-level housing are shifting.”

The report found that investor activity has remained stronger than the broader housing market since the COVID-19 pandemic. While overall home sales are down more than 25% from their 2021-2022 peak, investor purchases have declined by a smaller figure of 22.6%. Compared with pre-pandemic levels, overall home sales have fallen 14.3%, while investor acquisitions have increased 14.6%.

Investor sales also moderated in 2025. Although investors accounted for 9.3% of all home sellers, matching their share from 2024, the total number of investor sales declined. As a result, net investor accumulation widened to about 92,000 homes, up from roughly 80,000 in 2024.

The composition of investor activity continued to shift away from large institutional buyers. Mega investors, defined as those making 350 or more purchases annually, accounted for just 7.5% of investor purchases in 2025, their lowest share since 2011. Their purchase volumes have fallen nearly 70% from the peak reached during the pandemic-era housing boom.

Meanwhile, small investors — categorized as entities making fewer than 10 purchases per year — increased their share of investor purchases to about 63%, the highest level in more than 15 years. Realtor.com said small investors remained net buyers, purchasing approximately 53,000 more properties than they sold last year.

Jones said small investors are concentrated in lower-priced segments of the market, where they often compete directly with first-time homebuyers.

Nationally, small investors purchased homes at a median price of $330,000, compared with the overall market median of $440,000, according to the report.

Investor activity remained concentrated in several Midwest and Sun Belt markets. Among the nation’s 50 largest metropolitan areas, Memphis, Tennessee, posted the highest investor buyer share at 23.7%, followed by Kansas City at 21.2%; St. Louis at 21.1%; Birmingham, Alabama, at 21%; and Oklahoma City at 17.9%.

Las Vegas and Birmingham recorded some of the largest increases in investor buying activity from a year earlier, while San Antonio and Dallas-Fort Worth remained among the most active investor markets.

By contrast, several high-cost West Coast and Northeast markets saw relatively limited investor participation. Portland, Oregon; Sacramento; and Hartford, Connecticut, each posted investor buyer shares well below the national average.

Atlanta represented one of the most significant reversals, according to the report. Once among the nation’s most investor-heavy markets, investor purchases accounted for just 10% of home sales in 2025, below pre-pandemic levels. Investors were net sellers in the metro area by nearly 1,800 homes, the largest negative net position among major markets.

Realtor.com said investor activity appears to have stabilized at an elevated level, with investor purchase shares remaining above 11% for three consecutive years.

The report suggests that while large institutional investors have retreated, the growing role of smaller investors may help sustain current levels of investor participation in the housing market.

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

This post was originally published on here

Some of the biggest names in fuel retailing are being accused of using artificial intelligence to quietly inflate what Californians pay at the pump. In a proposed class-action complaint filed Monday, June 22, in federal court in Sacramento, a group of California drivers alleged that gas station operators including BP, Marathon Petroleum, Walmart, 7-Eleven, Albertsons and Alimentation Couche-Tard’s Circle K used a shared AI pricing tool to “coordinate high prices and wring more money from the pockets of consumers.” The companies have not yet responded to the claims.

At the center of the suit is software from Kalibrate Fuel Systems, a fuel-pricing technology firm. According to the complaint, the defendants — which together operate more than 1,700 filling stations across California — fed the tool confidential data and let it automatically adjust prices based on what nearby competitors were charging. The drivers argue that routing pricing decisions through a single common algorithm let rivals effectively set prices in lockstep without an old-fashioned smoke-filled-room agreement.

“Defendants have conspired to put an end to competition, joining an AI-powered trust to ensure that no matter where a driver turns, the price for gasoline is artificially high,” the complaint states.

The alleged cost to consumers is steep. The suit claims the tool pushed gasoline prices up by as much as 22 to 30 cents a gallon, and diesel by as much as 33 cents, in areas where a high share of stations used it. Because of the size of California’s market, every additional penny per gallon costs the state’s drivers roughly $134 million a year, according to figures cited in the filing. The alleged inflation came on top of pump prices that had already surged during recent energy-market volatility.

The case leans on two legal hooks. It accuses the operators of violating California’s primary antitrust law, the Cartwright Act, and of running afoul of Assembly Bill 325, a state law that took effect January 1 and was written specifically to address algorithmic price-fixing concerns. The lawsuit is among the first major tests of AB 325, making it a closely watched case for businesses using automated pricing systems.

The defendants are heavyweight, publicly traded companies, which raises the stakes well beyond California’s gas stations. BP and Marathon Petroleum are among the largest fuel suppliers in the country. Walmart and Couche-Tard are major retailers. Albertsons and 7-Eleven operate fuel stations alongside their core businesses. Kalibrate, the software vendor, sits at the center of the alleged scheme, though the complaint focuses primarily on the retailers using the technology. None of the companies has publicly commented on the allegations, which remain unproven.

The lawsuit follows growing regulatory scrutiny of fuel pricing. In May, California’s Division of Petroleum Market Oversight, an independent watchdog within the California Energy Commission, issued subpoenas to some station owners over elevated gasoline prices. The legal theory also mirrors arguments increasingly advanced by federal antitrust regulators, who have contended that competitors using a common pricing algorithm can form what is known as a “hub-and-spoke” conspiracy even without direct coordination among themselves.

For businesses, the case is a warning shot about a rapidly expanding technology. Pricing algorithms that analyze market conditions and competitor data have become common across retail, real estate, hospitality and fuel sales because they can optimize margins in real time. But lawmakers and regulators are increasingly questioning where optimization ends and unlawful coordination begins. California’s case could help shape how courts nationwide approach AI-driven pricing systems.

The drivers are seeking unspecified damages on behalf of California consumers who purchased fuel at affected stations. Whether the lawsuit ultimately succeeds may depend on a question courts are only beginning to address: when an algorithm sets the price, who bears responsibility for the outcome? The answer could have implications far beyond the gas pump, reaching industries across the economy that now rely on AI to make pricing decisions.

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

Commentary
Crude oil prices fell almost 30% in the last month, from levels above $109 per barrel on May 19 to just $76.50 on June 19, the lowest cost for a barrel of crude since March 4, in the first week of the war in Iran.
All this happened in the wake of President Trump signing a Memorandum of Understanding with Iran, effectively reopening the Strait of Hormuz. The Navy blockade on Iran’s ports was briefly lifted, but the sailing may not be smooth, since Iran announced over the weekend that the Strait of Hormuz is closed once again, due to Israel’s strikes in Lebanon, as Iran is trying to exert leverage to put pressure on Israel….

This post was originally published here

The Kurdistan Region of Iraq has found itself threatened by Iranian-backed militias and by Iran over the last months and years. Since February 28, there have been around 850 drone and missile attacks on the region. Over the years, there have also been numerous attacks on oil and energy facilities in the area.

Iraq has generally looked on at the attacks with bemusement. For Iraq, it doesn’t seem to matter whether the Kurdistan Region is attacked because then the region can’t sell oil or provide itself with gas for electricity.

Now, it appears the concerns from the Kurdistan Region are being listened to in Baghdad. This comes with the arrival of a new prime minister, Ali Al Zaidi, who has been in office for two months. He has sought closer ties with the US and has claimed he will try to disarm Iranian-backed militias in Iraq.

Drones cause blackouts by targeting oil fields, exports expected to increase

Zaidi’s drive to secure Iraq has meant that it now appears that the Kurdistan Region may receive some protection from drone and missile attacks. The Kurdish media outlet Rudaw noted on June 22 that “the joint security committee formed to assess the security situation of oil fields in the Kurdistan Region has completed its work and submitted its report to Iraqi Prime Minister Ali al-Zaidi, marking a step toward protecting oil fields from missile and drone attacks.”

The drones have often targeted the Khor Mor gas field. This is a large gas field not far from Sulimaniyeh on the road toward Kirkuk. It is operated by the Pearl Consortium (led by UAE-based companies Dana Gas and Crescent Petroleum). It provides electricity to the Kurdistan Region. In the past year, the region has finally received electricity throughout the day.

Years ago, it was common for electricity to go off half the time; and people had generators.

Now, Rudaw notes, “According to officials, Baghdad has undertaken responsibility for guaranteeing the protection of the oil fields and the safety of workers, as international companies prepare to resume production at full capacity.” The report quotes Sipan Sherwani, a member of the Iraqi parliament’s oil and energy committee, who told Rudaw’s Ziyad Ismael on Monday that the process has reached its final stages.

“Yes, the reports are complete. They have been submitted. Zaidi has provided a guarantee in writing to the oil companies to resume their operations,” Sherwani said. “We anticipate that in the coming days, based on statements from the oil companies, oil exports from the Kurdistan Region will increase to over 205,000 barrels per day.”

The report goes on to quote Sabah al-Numan, spokesperson for the Commander-in-Chief of the Iraqi Armed Forces. He said that Baghdad is “moving ahead with defense contracts” but emphasized that “final decisions rest with the defense establishment.” He went on to say that “the Iraqi Ministry of Defense has contracts with major international companies to install an advanced air defense system… Ultimately, it is the vision of Iraq and the Ministry of Defense that determines the necessary type of defense system, its source, and the mechanism of the contract.”

Rudaw said that “Erbil and Baghdad have also agreed on a broader security arrangement in which, once air defense systems are installed near the oil fields, Peshmerga forces will remain deployed in these locations after receiving training. Their role would be to protect oil infrastructure from potential drone and missile attacks by outlaw groups.”

This is important for the region. Oil and gas in Iraq are now a key aspect of trade routes to Syria and Turkey. There are talks about a pipeline to Turkey’s Ceyhan, for instance. Iraq is also trucking oil to Baniyas in Syria. Now that the Strait of Hormuz is open, Iraqi oil will begin moving around the world again.

Iraqi production dropped by 3 m. barrels per day

Rudaw noted, “Oil companies resuming operations in the Kurdistan Region fall into three categories: those damaged by drone attacks needing up to a year to recover, undamaged firms restarting within weeks, and others outside the Baghdad-deal currently in talks with the Kurdistan Regional Government (KRG).”

Iraq is producing 1.5 million barrels per day (bpd), compared to around 4.5 million before the Iran conflict.

Iraq wants more exports to the Turkish port of Ceyhan. “This would consist of 250,000 barrels from the Kurdistan Region, 250,000 barrels from Kirkuk, and another 250,000 barrels from fields in central and southern Iraq, which would be transported by tanker to Kirkuk and exported through the Kurdistan Region’s pipeline,” a source told Rudaw.

Preventing attacks on energy infrastructure is key to making the Kurdistan region secure, as well as enabling stability in Iraq.

As this happens, the Kurdistan region is also seeking to unify its Peshmerga armed forces. Iran is also providing tacit approval to Baghdad’s claims of disarming armed groups.

Iran’s ambassador to Iraq, Mohammad Kazem al-Sadeq, said to the Iraqi News Agency (INA) that Iraq’s decision to disarm groups is “an internal Iraqi matter.”

The Islamic Republic claims to “respect any decision the Iraqi government makes in this regard.” Iran likely thinks Iraq is bluffing in terms of actually disarming the Iranian-backed militias.
 
 

This post was originally published on here

As part of the ongoing lawsuit between Mauricio Umansky’s ThePLS.com and the National Association of Realtors (NAR), the trade association has attempted to subpoena documents from the American Real Estate Association (ARA), the NAR alternative founded by Umansky and Compass agent Jason Haber. 

The subpoena seek any documents, contracts, invoices and all communications between ARA, thePLS.com and theNLS.com, the Spanish counterpart of PLS from ARA and Haber. Additionally, NAR also asked to see communications about the Clear Cooperation Policy (CCP) and the NAR Accountability Project, a group founded by Haber in the wake of the sexual misconduct allegations that surfaced against former NAR President Kenny Parcell in late August 2023. 

According to the filing, the subpoena was issued in May with documents requested by no later than June 18. 

In an post on Instagram on Monday, Haber said that neither he nor ARA will meet NAR’s request for documents dating back to January 1, 2017, as they “include highly sensitive conversations with victims who came forward about harassment inside NAR.”

“The NAR Accountability Project shut down before ARA even existed. I’ll leave it to you to ask what its files have to do with a case about private listings,” he said. “ARA is objecting in the strongest possible terms. We will not allow a legal filing about a listing network to compromise the privacy of people who had the courage to come forward.”

On going legal battle

The subpoena is one of the latest developments in a years-long legal battle between ThePLS.com and NAR over CCP. ThePLS.com originally filed it antitrust lawsuit against NAR, California Regional MLS (CRMLS), Bright MLS and Midwest Real Estate Data (MRED) — are now named as co-conspirators. The MLSs were dismissed from the initial suit with prejudice in January 2024.

NAR was also dismissed from the initial suit at that time, but without prejudice, meaning that the PLS was allowed to refile the suit, which it did in July of 2025. 

In the renewed lawsuit, the plaintiffs claim that NAR is “a combination or conspiracy among its members, who are licensed real estate professionals who compete with one another.”

The PLS alleges that the adoption and enforcement of CCP by NAR and Realtor-affiliated MLSs is “the product of agreements and concerted action among the MLS Conspirators and between and among each NAR-affiliated MLS and their members.”

By requiring all listings to be submitted to the MLS, the PLS claims that CCP “eliminates the ability of listing networks that compete with the NAR-affiliated MLSs to feature listings that are not on the NAR-affiliated MLSs.”

The plaintiff argues this “degrades the quality of competing listing networks, reduces the incentives of licensed real estate professionals to use those competing listing networks, and makes those competing listing networks less effective competitors to the NAR-affiliated MLSs.” 

Additionally, the suit claims that CCP “has had actual and substantial anticompetitive effects by eliminating the ability and incentive of licensed real estate professionals to market pocket listings through PLS,” as well as other listing networks, thereby harming competition among listing network services.

In September 2025, NAR responded to thePLS.com’s renewed claims, arguing that the plaintiffs have not experiences any “antitrust injury.” 

This post was originally published on here

Finance of America (FOA) announced on Tuesday that it has appointed three senior executives to lead its brand, communications and product functions as the reverse mortgage lender looks to expand its retirement-focused home equity offerings.

Colm Murphy has joined as chief brand officer, Jordan Baucum as senior vice president of communications and Mike Urban as chief product officer.

The appointments are part of the company’s effort to more closely align its brand, communications and product teams as it seeks to drive growth and expand awareness of home equity-based retirement financing solutions.

“These hires strengthen the core of how we build and deliver for customers as we enter our next phase of growth,” Finance of America President Kristen Sieffert said in a statement. “By aligning brand, communications, and product more closely, we’re better positioned to simplify a complex category and create solutions that reflect how people approach retirement today.”

Murphy joins the company from Publicis Groupe, where he served as global chief strategy officer for Citi, following previous leadership roles at Bloomberg Media. Baucum previously held communications and financial services positions at Customers Bank, First Republic Bank and Chevron.

Both executives will report to Angela Tribelli. FOA’s chief marketing officer, and will oversee efforts to strengthen the company’s brand presence and consumer education initiatives focused on retirement planning and financial wellness.

“Our goal isn’t simply to build a stronger brand,” Tribelli said. “It’s to help Americans better understand the role home equity can play in retirement and ensure they have access to clear, transparent information when making important financial decisions.”

Urban joins Finance of America after serving in leadership roles at Best Egg and Barclaycard US. Reporting to Brian Conneen, FOA’s chief information officer, Urban will oversee product strategy and execution, with a focus on expanding the company’s retirement solutions platform and accelerating product development.

Conneen said Urban’s experience in product management, operations and design will help the company scale its product organization and deliver new home equity solutions for retirees.

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

This post was originally published on here

In one of the sharpest reversals of American policy toward Tehran in years, the United States has cleared Iran to sell its oil for U.S. dollars. On Monday, June 22, the U.S. Treasury Department issued a 60-day license — formally Iran General License X — authorizing the production, delivery, sale and even import of Iranian crude, petrochemicals and petroleum products through August 21. Treasury Secretary Scott Bessent announced the move on the platform X, tying it to “productive” talks with Iran underway in Switzerland and to Tehran’s pledge to keep the Strait of Hormuz open and admit nuclear inspectors.

The most consequential detail is the currency. The license lets buyers pay for Iranian oil in U.S. dollar-denominated funds, giving Tehran access to the world’s dominant currency for crude transactions for the first time in decades. For years, sanctions forced Iran to sell at a discount to the handful of buyers willing to risk U.S. penalties. Selling at market rates, in dollars, makes it far easier for the regime to repatriate profits from its exports — a financial lifeline after years of a “maximum pressure” campaign that began when President Donald Trump withdrew from the 2015 nuclear deal during his first term.

The waiver is unusually broad. It covers the services that make the oil trade work — vessel management, insurance, crewing, bunkering, classification and emergency repairs — and permits cargoes to move on tankers the U.S. had previously sanctioned. It also opens the door, on paper, to the first U.S. imports of Iranian crude since Washington imposed measures after the 1979 revolution, though it remains unclear whether any Iranian barrels will actually enter the country.

The license is the economic centerpiece of a fragile peace framework. The memorandum of understanding Trump signed on June 17 commits the U.S. to lifting its naval blockade of Iranian ports and eventually releasing billions of dollars in frozen Iranian assets, in exchange for open transit through Hormuz and the return of International Atomic Energy Agency inspectors. Mediators Qatar and Pakistan said weekend talks at the Swiss resort of Bürgenstock produced a roadmap toward a final deal within 60 days, with more licenses from Washington expected in the coming days.

For oil markets, the practical effect is more supply. Crude prices, which spiked above $112 a barrel earlier in the war, have eased sharply on expectations that Iranian barrels will flow more freely; U.S. benchmark West Texas Intermediate settled near $74 on Monday. The biggest beneficiary is likely China, by far the largest buyer of Iranian oil through its independent “teapot” refiners, which had been purchasing discounted barrels despite sanctions risk. A wider, legal pool of buyers could firm up Iran’s revenue while keeping downward pressure on global prices — a combination the Trump administration has sought as it tries to tame fuel costs and inflation ahead of the November midterms.

The reversal has drawn fire. “This waiver doesn’t just weaken the pressure campaign — it puts it into reverse,” said Brett Erickson, a managing principal at Obsidian Risk Advisors, arguing that Washington spent months building leverage and weeks handing Iran a way around it. Some Republicans have voiced similar concerns, warning that easing sanctions on a country the U.S. was at war with months ago could end up funding regional militias. Tehran, for its part, has previously disputed U.S. figures on how much oil it has available to sell.

For businesses, the stakes run beyond the oil patch. Cheaper, steadier crude lowers costs for airlines, trucking and manufacturers and eases the energy-driven inflation that pushed U.S. consumer prices to a three-year high. Shippers and insurers that had steered clear of Iranian cargoes now have a legal, if temporary, window to handle them. The catch is the calendar: the license expires August 21, and everything depends on whether the 60-day roadmap hardens into a lasting deal. If the talks collapse, the barrels — and the dollars — could be pulled back as quickly as they were granted.

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

Traffic by tankers transiting the Strait of Hormuz has picked up amid the negotiations between the U.S. and Iran aimed at ending the war, which has caused oil prices to decline with more supply hitting the market.

The two sides have agreed to open the key shipping route for oil during the negotiations after the U.S. instituted a naval blockade and Iran laid sea mines that deterred shipping from moving through the narrow chokepoint.

The Strait of Hormuz’s central channel is yet to be cleared of Iranian mines, which has caused ships making the transit to either pass through a northern channel in Iran’s territorial waters or a southern channel in Oman’s waters. The U.S. Navy is overseeing transits along the southern route, while Iran issued a demand last week that vessels use the northern route through its waters.

Shipping traffic rose over the weekend to the highest level since the conflict began at the end of February, with 109 vessels transiting the Strait of Hormuz from Saturday through Monday, according to Kpler, a firm which tracks global shipping traffic.

OIL PRICES FLUCTUATE AS TRUMP’S IRAN DEAL COULD FULLY REOPEN STRAIT OF HORMUZ

President Donald Trump said Tuesday in a post on his Truth social media platform that, “19 Million Barrels of Oil flowed out of the Hormuz Strait yesterday, an all time RECORD. Oil prices are tumbling down, and the World is a much safer place!!!”

Despite the rise in shipping traffic, it remains lower than the more than 130 ships per day that transited the strait on a typical day before the conflict began, the New York Times reported

There also remains a backlog of hundreds of ships waiting to pass through the strait, according to the International Maritime Organization.

OIL PRICES PLUNGE TO LOWEST LEVELS SINCE EARLY MARCH AFTER TRUMP SIGNS IRAN DEAL

The Joint Maritime Information Center (JMIC), a U.S.-led international maritime security organization based in Bahrain, lowered the regional threat level to moderate on June 18 after the U.S. and Iran agreed to open the waterway during the 60-day negotiating window.

However, it noted there have been confirmed mines in the waterway and recommended vessels use the southern route near Oman as it has been cleared of mines.

“Mariners should be advised of the existence of mines and expect naval presence as clearance operations continue,” JMIC said in its announcement. “Mariners should also expect congestion through transit routes and potential VHF hailing from naval forces to support free flow.”

ZELDIN TOUTS US ENERGY FUTURE, SAYS INDO-PACIFIC NATIONS INCREASINGLY INTERESTED IN AMERICAN SUPPLY

The uptick in oil moving through the Strait of Hormuz has eased global oil prices, which surged to trade above $100 a barrel at times during the first two months of the conflict. 

Prices for Brent crude, the global oil benchmark, were around $75 a barrel on Tuesday after declining about 0.3% on the day and over 4.5% in the past five days.

They also declined for the U.S. crude benchmark, West Texas Intermediate, which was about $73 a barrel on Tuesday after declining roughly 0.8% on the day and around 7.7% over the last five trading days.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Rising oil supplies from the Middle East with the return of tanker traffic through the Strait of Hormuz has also caused a shift in prices for North Sea crude, with prices for Forties crude from the North Sea trading at its lowest level in two years on Monday, Bloomberg reported.

This post was originally published here

A global selloff in semiconductor stocks that forced the Korea Exchange to halt trading for 20 minutes Tuesday rolled straight into Wall Street, dragging the tech-heavy Nasdaq sharply lower at midday while the rest of the market split in two directions. The trigger was a brutal slide in chipmakers across Asia and Europe, driven by fears that the artificial-intelligence boom has run too far, too fast — and by growing worry that the Federal Reserve, under Chair Kevin Warsh, will raise interest rates before year-end. Investors are also tracking peace talks between the United States and Iran, where Tehran said Monday there had been “encouraging progress” and agreed to a roadmap toward a final deal within 60 days, easing some pressure on oil.

The result was a sharply divided tape. The Dow Jones Industrial Average held in positive territory, up about 0.2%, or roughly 100 points, helped by non-tech names. The S&P 500 slipped around 0.4%, weighed down by its large technology holdings. The Nasdaq-100 bore the brunt, falling about 2.7% as nearly every chip and computer-hardware stock in the index dropped. The small-cap Russell 2000, which closed above 3,000 for the first time ever on Monday, also eased.

Market Movers

Memory-chip maker Micron Technology led the decliners, sliding more than 10% ahead of its quarterly earnings due late Wednesday. Qualcomm fell roughly 7% to about $207 after reports it is in advanced talks to buy AI chip startup Modular in a deal valued near $4 billion. Arm Holdings dropped about 8%, and Western Digital fell more than 8% to around $67. Among the megacaps, Nvidia lost close to 3% and Tesla fell about 4%. SpaceX, fresh off the largest stock debut ever, slid for a fourth straight day, dropping below its $150 opening price and back under a $2 trillion valuation.

Not everything sold off. Microsoft bucked the trend, rising about 2.5%, while Amazon added roughly 1.7%. IBM climbed about 4% to $263 after JPMorgan upgraded the stock to “overweight” and President Trump praised the company and signed an executive order on quantum computing. Defensive names held up too, with Public Storage up 4.4% to $334.43 and Accenture gaining 3.3% to $128.82.

On the analyst desk, Wells Fargo analyst Ike Boruchow downgraded Ross Stores to equal weight from overweight while maintaining a $245 price target, warning that the discount retail sector could slow sharply as lower-income consumers continue to struggle. Dan Ives of Wedbush Securities struck a calmer note, calling the selloff a “gut check moment” in an AI buildout that remains in its early stages rather than the start of a deeper downturn.

The rout also put a spotlight on jobs. Oracle shares fell about 2.6% to $170.85 after the company disclosed in an annual regulatory filing that it eliminated roughly 21,000 positions over the past year — nearly 13% of its workforce — as it leans harder into AI. Oracle said AI deployment across its operations has reduced headcount and may continue to do so, offering a stark example of how the technology fueling the market rally is also reshaping payrolls.

Commodities and Volatility

Oil continued to slide as traders assessed the U.S.-Iran roadmap. West Texas Intermediate crude traded near $73 a barrel, down about 1%, while Brent crude hovered just below $77.

Precious metals also weakened. Gold fell more than 1.5% to roughly $4,138 an ounce, while silver slipped back toward its yearly low near $61. The U.S. Dollar Index climbed above 101 for the first time since last May, while Treasury yields edged lower, with the 2-year note down about 4 basis points and the 10-year yield off roughly 2 basis points. Bitcoin traded near $63,000.

The Day Ahead

Earnings season picks up after the closing bell, with FedEx reporting late Tuesday and Micron Technology reporting Wednesday. Investors will be watching Micron closely for clues about demand for AI memory chips and whether the sector’s recent rally still has room to run.

The economic calendar also becomes more active later this week. Reports due include May new-home sales on Wednesday, the May PCE inflation gauge and a final estimate of first-quarter GDP on Thursday, and the University of Michigan’s consumer sentiment index on Friday.

JBizNews Desk | New York

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

The commander of the IDF Home Front Command‘s Northern Division Brig.-Gen. Alon Friedman told members of the emergency response squads in northern Israel that standby teams would be heavily reduced starting Sunday, an IDF document said on Monday.

This comes in light of the ceasefire with Hezbollah and a resumption of talks between Israeli and Lebanese delegations in Washington.

However, a Northern Command source noted that while the squads will be ending their continuous reserve duty, they will be placed “in readiness in case of escalation or a heightened incident.”

A member of Moshav Goren’s emergency response squad denounced the decision by saying that it is “a spit in the face of everyone who has protected the area over the last three years.”

“The ink on the ceasefire agreements has not yet dried, the silence here is a false and tense silence, and the first decision taken is to dismantle the last line of defense of our settlements? The people who left everything, who did not sleep at night, and who were the first to jump and the last to leave,” he added.

“To release the squads immediately, without a transition period, without proven security [infrastructure] on the ground – this is not a return to routine. This is abandonment,” he said.

Netanyahu handing northern communities to Iran, Qatar

“After selling the residents of the Gaza border communities to Qatari interests, Prime Minister Benjamin Netanyahu is doing it again, and handing over the future of the northern communities to Iran and Qatar,” a member of Kibbutz Kfar Giladi’s emergency response squad said.

“This is no longer abandonment. It is harmful to the security interests of residents of the North, and all of Israel,” he added.

According to him, this decision is a strategic disaster that may lead to mass abandonment of residents.

Home Front Command eases security guideline restrictions on Lebanon border communities

The announcement follows HFC’s announcement that defensive guidelines in areas near Lebanon will be restored to a level of “full activity ” on Monday.

Due to the long-standing conflict with the Lebanese terrorist group Hezbollah, and the threat of rockets and drones faced by the communities closest to the border, many communities have been restricted for much of the last two and a half years.
 
A ceasefire in Lebanon is included in the US-Iranian Memorandum of Understanding (MoU), which was signed last week by both parties. Despite this, fighting was reported in southern Lebanon after the adoption of the ceasefire, which could threaten the stability of the MoU.

This post was originally published on here

Florence Chang, a long-time executive of the Washington-based nonprofit, will replace current CEO William Robertson on Jan. 1.

This post was originally published here

The U.S. Department of Housing and Urban Development (HUD) is rolling out 14 changes to the Federal Housing Administration (FHA)’s single-family mortgage insurance program, including less stringent appraisal rules, expanded flexibility for the 203(k) rehab loan program and simplified closing forms. 

The updates touch FHA policies from origination through servicing and quality control. HUD said the goal is to remove outdated requirements, reduce administrative work, and make FHA financing more efficient for both homebuyers and lenders. 

“Every unnecessary regulation comes with a cost, and too often homebuyers pay the price,” HUD Secretary Scott Turner said in a statement. “If a policy does not protect taxpayers, improve affordability, or expand opportunity for Americans, we should rethink it.” 

Regarding appraisal quality control, FHA is reducing requirements tied to appraisal field reviews, which HUD said cost about $425 per review. The change will save the industry an estimated $3.3 million per year. 

Under the Limited 203(k) Rehabilitation Mortgage Insurance Program, FHA will allow an increased number of contractor draw requests, making it easier to complete smaller home rehabilitation projects, which are often critical for addressing aging housing markets and lower-priced housing segments.

FHA is also permanently exempting early payment defaults caused by natural disasters from required quality control review samples. And it’s eliminating the duplicative requirement for lenders to use the Important Notice to Homebuyers Form 92900-B, which is expected to simplify the FHA closing process. 

In loss mitigation, FHA is clarifying requirements governing trial payment plans. HUD said the changes are designed to protect the Mutual Mortgage Insurance Fund, establish safeguards to prevent abuse and ensure proactive borrowers are not penalized when they work with servicers to avoid default.

Turner, who took over the department’s top job under the Trump administration, has emphasized regulatory rollbacks and cost reductions as core priorities. 

FHA’s single-family unit has also seen turnover in senior roles. Earlier this month, Frank Cassidy stepped down from his role as FHA Commissioner and HUD assistant secretary for housing after a brief temporary leave. Ginnie Mae President Joseph Gormley is leading the office in an acting capacity. 

HUD said FHA has taken more than 150 actions to streamline its single-family program since the beginning of the Trump administration, signaling an ongoing regulatory recalibration rather than a one-off adjustment. 

This article was written by Flávia Furlan Nunes and generated with the assistance of HousingWire Automation, then reviewed by a HousingWire editor before publication. 

This post was originally published on here

The Brooklyn Public Library is releasing a limited-edition Jay-Z library card in honor of the 30th anniversary of the Brooklyn-born rapper’s debut album. Starting Thursday, the JAŸ-Z 30 Limited Edition Library Card will be available at BPL branches systemwide on a first-come, first-served basis, while supplies last. Created in collaboration with Roc Nation, the card celebrates the 30th anniversary of “Reasonable Doubt” and comes ahead of the rapper’s three highly anticipated performances at Yankee Stadium next month.

“Over the past three decades, JAŸ-Z’s music has helped shape conversations about New York City, entrepreneurship, creative expression, and contemporary culture,” the BPL said in a press release. “

As audiences gather this summer for his concerts at Yankee Stadium, BPL marks the occasion by recognizing JAŸ-Z’s enduring impact on hip-hop and popular culture.”

The rapper, aka Shawn Corey Carter, recently added the umlaut back over the “Y” in his name, as People reported in March.

Visitors to Bed-Stuy’s Marcy Library will also be able to check out books from JAŸ-Z’s Booklist on a dedicated display shelf featuring titles donated by Roc Nation. The collection includes books that have influenced the rapper throughout his life and career, offering readers insight into the works that helped shape his thinking and creative development.

Photo © 6sqft

The collaboration continues a partnership between Jay-Z and the library. In July 2023, the library released “The Book of HOV” library card collection alongside an exhibition of the same name presented by the BPL and Roc Nation at the Central branch.

The series featured 13 limited-edition cards showcasing artwork from Jay-Z’s studio albums, from 1996’s “Reasonable Doubt” to 2017’s “4:44.”

Featuring art, images, ephemera, and memorabilia from the rapper’s archives, the exhibition paid tribute to his life and career while highlighting the ways he helped redefine hip-hop, music, and culture on a global scale, as 6sqft previously reported.

The exhibition drew more than 600,000 visitors during its nearly five-month run, making it one of the most attended public exhibitions in the system’s history. Its final day saw nearly 11,000 visitors, the highest single-day attendance recorded at the Central Library, contributing to a 74 percent increase in attendance at the branch during the exhibition’s run.

It also introduced thousands of new users to BPL’s services. More than 36,000 “The Book of HOV” library card accounts were created, leading to a 66 percent increase in new accounts systemwide and a more than 300 percent increase at the Central Library. Of the original card designs, “The Black Album” was the most requested, followed by “The Blueprint.”

To celebrate the milestone, Jay-Z is performing three historic shows at Yankee Stadium July 10–12. Originally scheduled for just two performances, a third date on July 12—titled “Jay-Z Extra Innings”—was added following high demand.

RELATED:

The post Brooklyn Public Library releases limited-edition Jay-Z library cards first appeared on 6sqft.

This post was originally published here

Supermarkets racing to replace paper price tags with digital screens are running into a growing political backlash. As of mid-2026, lawmakers in roughly a dozen states and in Congress have introduced bills to restrict how grocers use customer data to set prices — a practice critics call “surveillance pricing” — with some measures going as far as banning the electronic shelf labels that make rapid price changes possible. The fight pits major chains like Walmart and Kroger against labor unions, consumer advocates and a bipartisan group of politicians.

The most concrete action so far came in Maryland. On April 28, Governor Wes Moore signed the Protection from Predatory Pricing Act, making Maryland the first state to ban dynamic pricing based on a shopper’s personal data. The law, which takes effect October 1, requires grocers larger than 15,000 square feet to keep prices fixed for at least one business day and bars the use of surveillance data to set individualized prices, with fines of $10,000 for a first violation and $25,000 after that. Notably, it stops short of banning the digital labels themselves.

The campaign has a powerful backer in organized labor. In February, the United Food and Commercial Workers union, which represents about 1.2 million workers including more than 800,000 in grocery, launched its Affordable Groceries and Good Jobs campaign, arguing that electronic shelf labels both enable price manipulation and threaten the jobs of clerks who once updated tags by hand. States including New York, Tennessee, Washington, Arizona, Nebraska and Oklahoma have introduced versions of the union’s model legislation, while California, Colorado, Illinois and New Jersey are weighing their own.

In Washington, the effort has gone bipartisan. Senators Ben Ray Luján of New Mexico and Jeff Merkley of Oregon introduced the Stop Price Gouging in Grocery Stores Act of 2026, which would ban electronic shelf labels in large stores and prohibit surveillance pricing, enforced by the Federal Trade Commission. In May, Representatives Josh Gottheimer and Mike Lawler unveiled the No Rigged Grocery Prices Act, targeting AI-driven pricing at both stores and delivery apps.

Retailers push back hard. Walmart, which aims to roll out electronic labels across its U.S. stores by the end of 2026, says the technology simply lets workers update planned price changes from a central system and insists it does not tailor prices to individual shoppers. The industry notes that price-gouging laws already exist and that the labels mainly improve accuracy and efficiency.

The stakes are commercial and political. Electronic shelf labels are a fast-growing market for retail-technology suppliers, and chains see them as central to cutting labor costs and competing on price. But with grocery inflation still squeezing households, surveillance pricing has become an easy target, and polling has found broad bipartisan support for restrictions. How the patchwork of state laws shakes out will shape how the nation’s largest retailers price the items in nearly every American’s cart.

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

BARY, an Israeli AI company founded in Tel Aviv, was sold to the French media and technology group Netgem, as part of another Israeli exit in the artificial intelligence sector. Netgem, which is traded on the Euronext exchange, said it is acquiring the French-Israeli startup BARY, which developed TheSubtil.ai, an AI-based system for translating, subtitling, and dubbing films and series. Under the deal, Netgem will acquire the company’s technology assets and its research and development unit in Israel.

The company, founded by Matthias Cohen-Skalli, Eli Zarbiv, and Sasha Rebo, developed the system over 18 months of research and development in Israel. Its aim is to solve one of the main problems facing the global streaming and entertainment industry, the high costs and long timelines required to translate and adapt content linguistically for international markets.

According to the company, the technology it developed reduces content localization costs by about 50% and significantly shortens turnaround times. While the cost of subtitles and linguistic adaptation has until now stood at about 18 euros per minute of content, the system can reduce the cost to about 9 euros.

“Our main advantage is the combination of an advanced AI engine with strict human oversight,” said Matthias Cohen-Skalli, one of BARY’s founders. “The human element is essential to preserve cultural nuances, humor, and local expressions that technology alone cannot always convey.”

Since its launch, TheSubtil.ai has translated thousands of films, series, and television programs in more than 25 languages. Among other things, the system has seen strong demand in regional European languages, including Catalan.

Even before the acquisition, the company had demonstrated its capabilities through cooperation with the M6 Group, one of France’s largest media and television groups, which supported the product’s development and helped adapt it to market needs. The technology was also used on thousands of works shown at leading international film events, including the Cannes Film Festival and the Venice Biennale.

TheSubtil.ai to form part of Enclair

Following the acquisition, Eclair, part of the Netgem Group and one of the oldest companies in the film services sector, founded in 1907, will fully integrate TheSubtil.ai and make it a central component of its localization activities in France and other international markets.

At BARY, the company is already looking ahead. It is investing in the development of the next generation of accessibility solutions, led by subtitling systems for the hard of hearing and deaf (SDH), a field that in recent years has become a significant regulatory and commercial requirement for streaming giants around the world.

At the company, the deal with Netgem is seen as further proof of the Israeli high-tech industry’s ability to produce technologies with global impact and attract significant international investment, even against the backdrop of the region’s complex geopolitical reality.

The acquisition marks BARY’s transition from the development stage to the industrial stage, with the technology developed in Israel now expected to reach some of Europe’s largest studios, broadcasters, and streaming platforms.

This post was originally published on here

Trained to avoid rushing to judgment, we historians know there will be far more to learn about Monday’s Montreal bloodbath, wherein a terrorist killed one police officer and one civilian.

The police claim the terrorist was not antisemitic and that the resulting murder of a beloved Jew in the Jewish neighborhood attacked is coincidental.

Assuming that conclusion holds, Canadians and their leaders must admit that even if antisemitism didn’t trigger this crime, the lynch-mob mentality against Jews, Zionism, and Israel drove it as well as other acts of political violence.

The same argument holds when terrorists attack areas with no Jews at all. It’s essential to recognize that by tolerating so much antisemitism and “Zionophobia” – hostility toward Zionists – many Canadians helped foster an atmosphere of political totalitarianism breeding extremism, zealotry, and violence.

Silence often speaks volumes. Those who keep quiet while others harass Jews, Israelis, and Zionists broaden the zone of tolerance for all forms of brutality. In healthy democracies, there are no innocent bystanders; when fellow citizens are besieged, silence is complicity.

Lack of public reaction to antisemitism

Jesse Brown opens his March 2026 Atlantic essay, “Canada’s Polite Pogrom,” with a devastating line. Describing how the University of British Columbia’s Ed Rosenberg quit teaching geriatric medicine after 30 years, Brown explains that the antisemitic bile students and colleagues at the University of British Columbia posted after October 7 was bad enough. Nevertheless: “He did not resign because of the messages…; he resigned because the university wouldn’t do anything about them.”

Antisemites around him could be dismissed – it’s hard to feel betrayed by twisted people who celebrated such perversions. But Rosenberg and so many others have felt betrayed by so-called “innocent bystanders” and supposedly responsible administrators who did nothing. 

The insult is compounded by a cancel culture and DEI bureaucracy exaggerating the slightest slips into massive grievances – when it comes to other groups.

Selective silence is equally painful, double-crossing the targeted – and emboldening aggressors. On June 1, Prime Minister Mark Carney modeled the kind of political cherry-picking that justifies using the cliché “doing more harm than good.”

Carney’s 2600-word speech about antisemitism never used the Z-word, Zionism, and only mentioned Israel once. That’s like denouncing Southern racism without defining it as an obsessive bigotry against blacks.

Linking anti-Zionism with antisemitism is not some Jewish delusion; it’s a conscious stance wired deeply into the Palestinian national movement’s DNA. Palestinians and their enablers yell “Death to the Jews” and target Jewish schools, synagogues and individuals when they’re enraged by Israel.

Palestinians and their enablers recycle old Jewish stereotypes and dip their anti-Zionism in the toxic reservoir of anti-Semitic slurs. And it’s Palestinians and their enablers who have fed a spike of Jew-hatred since October 7, because the antisemitic anti-Zionism of Hamas and other Gazans on that bloody day inspired them.

Carney’s omission was particularly glaring because he o so earnestly, speaking in French, invoked the Canadian philosopher Charles Taylor to explain Canada’s “celebration of differences.” 

That acceptance reflects Taylor’s notion of “recognition,” Carney explained, which “is more than mere tolerance…. To be recognised is to be received as who you are.”

How ironic that in this speech Canada’s prime minister refused to recognize or receive how Zionists are – or admit how much they have been pursued.

These full and partial silences help amplify today’s shouters, who continue to believe they run the conversation.

They dominate the airwaves, the headlines, and social media. Today’s loud, often foul-mouthed, hotheads view everything through a partisan lens – which paves the road to totalitarianism.

Reducing our complex world to a series of all-or-nothing political propositions oversimplifies and inflames discourse simultaneously.

Extremists thrive in this highly charged atmosphere. They make politics tribal – us versus them. And they escalate identity into zealotry.

Belonging is no longer enough. Bullying the other becomes expected, fundamental – first, most easily, in Tweets, then in words to strangers, then in breakups over politics with friends and relatives.

Once that happens, once you’ve demonized and objectified the other, it’s easy for unstable maniacs to turn violent. After all, everyone else has convinced them that if you dare disagree with me – you’re an existential threat to me and our democracy.

Canada’s turn from Canada the decent and delightfully boring, to Canada the indecent and menacing, reflects this evil logic’s spellbinding power. Of course, not every terrorist or partisan firebrand is a Jew-hater or an anti-Zionist. But Jew-hating and Israel-bashing green-lighted a culture of political fervor and abuse.

We now live in a world – in democracies – where healthy functioning adults – not just lunatics – act crazy. They shun colleagues and friends, harass shopkeepers or customers, hit little kids, shoot their schools, and assault their places of worship, proudly, while earning high-fives in return.

For decades we’ve known in theory – it starts with the Jews, but never ends with the Jews. The words were mouthed – and are mouthed whenever Jews are targeted. We need more than words.

The twin evil genies of Jew-hatred and political violence, which have long been intertwined, have been unleashed, and Jews aren’t responsible for returning either foul force into its bottle. 

Jews should focus on defending themselves just enough to feel free to double down on being Zionist, doing Jewish, and celebrating Israel.

It’s the much larger non-Jewish world that must remember two long-lasting lessons. Jew-hatred is the disease of the non-Jew, not the Jew.

And citizens in healthy democracies must defeat the totalitarian, conspiratorial, violence-breeding evil of antisemitism, doing it, not for the Jews’ sake, but for the sake of their own societies, and their own souls.

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

This post was originally published on here

The gravestone of Behnam Layqpour, a 37-year-old tattoo artist murdered by the Islamic regime’s security forces during the 2022 Women, Life, Freedom protests, was vandalized in Iran’s Rasht cemetery, according to the Iranian legal network DadBaan.

Human rights groups claim that Layqpour’s body was returned to his family after four days on the condition that they declare his cause of death a heart attack. Members of his family told the citizen journalism site IranWire that he was shot at close range when he happened upon a protest while enjoying the company of friends.

Layqpour’s sister told the legal network that each blow struck on her brother’s grave landed on her mother’s heart.

“If only you knew that every blow you struck upon it landed on the heart of a mother who still breathes with his memory… landed on the soul of a sister who still waits in hope to see him… landed on the shoulders of a brother who carries the pain of his absence with him every day… and landed on the hearts of all those who would never trade their love for Behnam for anything,” she said. “This act of yours is nothing but a display of disrespect and a fall from humanity, of which no trace remains!”

This is not the first time that Layqpour’s grave has been vandalized, according to his sister, who shared that paint has been thrown over her brother’s resting place in previous incidents.

Islamic Republic vandalized, paves over thousands of graves

In the video, which claims to have been taken on June 19, members of Layqpour’s family can be heard stating that, even “after three years and nine months, they still won’t leave this poor deceased person alone… We will not be defeated. We will rebuild it even more beautifully than before.

“No matter how much you destroy it, may you never find peace. Nothing is diminished from Behnam’s worth and values. Whoever did this to Behnam, may a curse be upon everything you have and everything you don’t have.”

The Islamic Republic has frequently vandalized the graves of its victims. In 2020, it destroyed the resting site of the executed champion wrestler Navid Afkari. Last year, it paved over the thousands of graves of individuals killed during the 1979 Islamic Revolution to construct a parking lot at the Behesht-e Zahra.

In 2024, the United Nations’ special rapporteur described the state’s attempts to destroy the graveyard as an effort to “conceal or erase data that could serve as potential evidence to avoid legal accountability” regarding its actions.

In April, Iran International reported that the regime had begun destroying the gravesites of some of the thousands of protesters murdered by security forces during the January protests.

At Tehran’s Behesht Zahra, some of the graves were reportedly leveled and covered with cement, according to the diaspora site. In other cases, inscriptions were reportedly changed.

This post was originally published on here

The leaders of Degel Hatorah and Shas, MKs Moshe Gafni and Arye Deri, announced on Tuesday that they would support dissolving the Knesset if no progress was made on the Haredi (ultra-Orthodox) draft bill.

“Today we held a meeting with Prime Minister Netanyahu and conveyed to him, on behalf of the great men of Israel, an unequivocal demand to immediately advance the Basic Law on Torah Study and the Law to Stop the Arrests of Torah Students, by convening the Foreign Affairs and Security Committee and the Knesset Committee this week,” they said in a joint statement.

According to their statement, Netanyahu “made it clear at the meeting that he is committed to approving the laws and will work to advance them quickly.”

This is a developing story.

This post was originally published on here

The public war of words between US President Donald Trump and the Iranian negotiating team about when and to what extent IAEA nuclear inspectors will be allowed to visit the regime’s nuclear sites is missing a central point.

Those who demand that the IAEA inspectors get to return to their “full” access from 2021 – when Iran started to partially limit their access – or to receiving fuller access as compared to the 2015 Iran nuclear deal are ignoring that what will be inspected now is not the same.

From 2015-June 2025, Iran had three major nuclear enrichment facilities with large numbers of centrifuges or other machinery and materials at Natanz, Isfahan, and Fordow.

There were dozens of other smaller nuclear sites, some of which the IAEA also had access to, such as Karaj, but Iran’s around 20,000 centrifuges, especially its advanced ones, were at the top three sites.

Monitoring enrichment and the installations of the new centrifuges at these sites was the main mission of the IAEA inspectors.

Inspection would revolve mainly around future capabilities

Why will any current mission be radically different?

Because all of these sites have been bombed.

There are either zero or close to zero centrifuges to monitor.

This means that most of the monitoring is not about an existing nuclear program, but about listing what pieces of that program still function, and ensuring that they are not rejuvenated, or that new facilities are not established.

Among the listing of what portions of the program can still be used, possibly the most central initial mission of the IAEA will be retrieving and either removing or monitoring the dilution of over 400 kilograms Iran’s high-level 60% enriched uranium, which has been buried deep under the rubble of the three main nuclear sites for around a year since the sites were struck in June 2025.

Although discussed much less, it will also be critical for the IAEA inspectors to ensure disposal or dilution of the regime’s 20% enriched uranium.

Iran giving up or diluting the 60% enriched uranium is the central concession it has made to make the current deal possible.

It will probably take weeks if not months of using special engineering machines as well as special protective suits to retrieve and dispose of the 60% enriched uranium.

This will be a highly complex task that the IAEA may not have done before, but once it is over, it will not be a continuous task.

It is unclear how long it will take to locate and dispose of the less discussed 20% enriched uranium, but that task also would seem to be time limited by weeks or months.

In other words, within months of Iran allowing access to retrieve the uranium, many of the IAEA inspectors may be able to leave Iran because they may have little to do.

IAEA inspectors could utilize intel from agencies such as Mossad, CIA in the future

It might be important for some IAEA inspectors to regularly check these old sites, but there is significant evidence that the Islamic regime may have decided to largely abandon the sites because the destruction there was so extensive, that building newer sites made more sense.

In that sense, after the initial uranium is disposed of, the longer and second stage of the inspections will need to focus on new facilities and preventing the building of unknown new facilities, something which Iran has an extensive history of doing.

It is unclear that the IAEA is equipped for such a role.

Rather, the IAEA will need to have some number of teams on the ground in Iran waiting for new situations in case, and when the Mossad, CIA, or other western intelligence service – interestingly enough Dutch intelligence has played some important roles at times – provide them with surveillance of new suspected facilities.

Jumping out and having immediate access to such new suspicious facilities will be the core role of the IAEA inspections for most of the life of the deal.

This is assuming that the deal prevents Iran from enriching uranium for 15-20 years, or some period of time followed by some time when it can enrich only at the 3.67% lower level, which was used under the 2015 nuclear deal.

When there is no enrichment, the IAEA inspectors will only be there to perform crack inspections, but otherwise will have little to do.

If and when the new deal allows Iran to enrich at a low level, then the IAEA inspection team would go back to its 2015 monitoring role of the centrifuges.

Regarding new nuclear sites, the most important one for the IAEA inspectors to gain access to is Pickaxe Mountain.

Iran has been building this facility since 2021, but to date it has not yet been viewed as operational.

This, and concerns that no US or Israeli bombs can penetrate the facility, which is even deeper under a mountain than the Fordow underground facility, are the reasons it has not been attacked to date.

But it will be critical for the inspectors to establish that it is not operational or is not being used for anything nuclear weapons related, since it is unclear whether such activities could be bombed.

All of these changes could give both sides some victories in the latest public dispute about inspections.

Anywhere there is 60% or 20% enriched uranium, the IAEA inspectors must have access as they must ensure all of the uranium is disposed of.

But in other sites where there was no such uranium or fully built centrifuges or weapons group dedicated experiments, the inspectors may not need access or may be able to be given temporary access just to ensure that there really is nothing dangerous concealed.

This could allow both sides to declare victory.

The US can get extensive access to the sites which really matter, and snap inspections even to such sites, whereas Iran could say it gave only very limited access to other sites which are less important or were completely destroyed.

However, the sides negotiate this issue, it is critical that the public understand that the inspection game now is completely different than it was before the June 2025 war and the early 2026 war, because most key Iran nuclear program components have been bombed and the name of the game is less monitoring a living program, than it is ensuring that the plug is pulled on what is left of the “on life-support” nuclear program, and making sure no new programs are built.   

This post was originally published on here

After years leading teams, building brands and driving growth in another industry, I joined my current company to lead as Vice President of Marketing and Communications. What I did not expect was how quickly the leadership questions would feel familiar.

The market dynamics were different. The terminology was different. The pace was different. But the questions were familiar. How do you attract great people? How do you retain them? How do you scale while protecting what made the organization successful in the first place? How do you build a culture that can support growth, change and market evolution?

Today, strong tech stacks, AI tools, marketing platforms, CRMs and operational systems are essential. Every growth-minded brokerage is investing in them. They are no longer optional. They are the price of admission.

The real differentiator is what happens after the technology is in place. In my experience, the answer often comes back to leadership, culture and connection.

Technology creates capability. Culture determines execution.

Before entering real estate, I assumed recruiting conversations would revolve primarily around technology, marketing support, commission structures and business resources. While those topics matter, I have found they are rarely where meaningful conversations end.

Eventually, most conversations come back to trust. People want to know who they are aligning themselves with. They want to understand the vision. They want to know whether leadership is accessible. They want confidence that the culture they are being promised is the culture they will actually experience.

That realization reinforced something I have seen throughout my career: people may be attracted by opportunity, but they stay because of leadership.

Although I do not have a wealth of experience inside multiple brokerages, I do have the privilege of speaking with agents every day about why they joined Glasshouse and what keeps them here.

What is interesting is that the conversations rarely center on a single tool, platform or piece of technology. Instead, the same themes continue to surface: support, accessibility, collaboration, connection and leadership.

Agents talk about feeling seen.

They talk about having access to leadership. They talk about being part of a culture where people genuinely want one another to succeed. They talk about being surrounded by professionals who are willing to share ideas, answer questions and help each other grow.

For me, those conversations are a reminder that while technology may help attract attention, culture is often what earns loyalty.

There is another piece of culture that has stood out to me since joining real estate: connection. Agents want to grow their business, but they also want to feel connected. Real estate can be isolating, and many agents know what it feels like to operate on an island.

They want to be part of a community where they can learn from one another, share ideas, celebrate wins and navigate challenges together. As a hybrid brokerage, that is not something we can take for granted.

Connection does not happen automatically when people are not working side by side every day. It requires intentional effort, leaders who create opportunities for collaboration and a culture that encourages people to share knowledge instead of hoarding it.

One of the things I have appreciated most about my brokerage is the belief that success does not have to be a zero-sum game. A saying our broker, Mo Zahedi, often repeats has become something of a company cornerstone: “A rising tide lifts all ships.”

It is more than a saying. It is a mindset.

It captures the belief that when one agent succeeds, everyone benefits. Knowledge spreads. Confidence grows. Momentum builds. People are encouraged to support one another, celebrate wins and share what they have learned.

Technology allows us to work from anywhere, but culture gives people a reason to stay connected.

In a hybrid environment, that connection does not happen by accident. It has to be built, reinforced and protected. That is leadership work.

One experience that reinforced this perspective was Asa Cox Homes, Glasshouse’s newly acquired Cleveland team of 80 agents, being selected for the Google and HouseCanary home search pilot.

The pilot explored new ways brokerage listings could surface through Google’s search ecosystem, supported by HouseCanary’s real estate data platform. Cleveland was one of only eight national pilot locations, making the opportunity meaningful not just for Glasshouse, but for an independent brokerage team entering a larger growth story.

While the pilot was rooted in technology and visibility, it ultimately reinforced something much bigger: the role leadership plays in creating momentum.

When a newly acquired team is able to step into an opportunity like that, it says something about more than market presence. It says something about alignment, communication and the ability to create momentum during transition.

It also says something about support. Asa Cox Homes was able to hit the ground running because they joined a brokerage that was nimble enough to move quickly, supportive enough to create confidence and innovative enough to recognize the opportunity in front of them.

Marketing can amplify a strong culture, but it cannot create one.

The strongest brands I have worked with were never built solely through campaigns, messaging or visibility. They were built through consistent leadership decisions that employees, customers and partners experienced every day.

Culture is not what a company says about itself. Culture is how people experience the company. Our continued growth is rooted in something simple: culture and leadership.

Technology and systems are essential to growth. But their impact depends on the people and culture behind them. Technology is most powerful when it is paired with trust, communication, accountability and leadership that people believe in.

Here is what I have learned, and what continues to be reinforced regardless of industry: technology is essential, but it is not enough on its own.

The brokerages that grow in a meaningful, sustainable way will be the ones that understand what technology can support, but leadership must create.

Leadership creates trust. Culture creates connection. And together, they create the kind of environment where people do not just join, but stay, grow, collaborate and succeed.

That is the real competitive advantage.

Not the tools alone.

The people, the leadership and the culture that bring them to life.

Korrin Ziswiler is Vice President of Marketing and Communications with Glasshouse Realty in Dayton, Ohio.

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

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

This post was originally published on here

Zillow has rolled out a personalized hub that guides homebuyers from first search through closing, the company announced Tuesday. The firm first launched a similar real estate ecosystem geared toward industry professionals, known as Zillow Pro, in mid-October 2025.

The new capabilities are aimed squarely at buyers and sellers struggling with a lengthy, confusing transaction process, as mortgage rates stay above 6.5% and nearly half of shoppers are first-time buyers, according to Zillow research. The company says its upgrades are designed to centralize tasks and documents, connect consumers with loan officers and real estate agents, and surface more actionable data at each step of the deal.

The personalized hub is built around four milestones: setting a budget, finding a home, making an offer and closing the deal. It pulls together a buyer’s goals, finances, to‑dos, documents and the agent and lender they are working with in a single interface, updating automatically as the transaction moves forward, according to the release. 

Home shoppers start by answering one question — “Are you buying, selling, both, or just browsing?” — and receive a tailored plan. The hub immediately displays three core elements:

BuyAbility℠, local market insights and a view of the buyer’s existing agent and loan officer, or a path to connect with a local agent through Zillow’s Agent Finder if they do not yet have representation.

When a buyer obtains a pre-approval, the hub reflects that milestone; when they go under contract, closing-related tasks appear. Zillow says this is intended to replace the patchwork of spreadsheets, email threads and ad hoc document collection that often compresses into a few days before closing.

Verified pre-approvals tie financing directly to search

Zillow’s Summer Launch also adds a shop with Zillow Home Loans Verified Pre-approval function, which connects a buyer’s vetted borrowing power directly to the listings they browse.

With Verified Pre-approval, monthly costs — including taxes, insurance, HOA fees and closing costs — are factored into the analysis, so buyers see whether a listing is realistically within their budget.

Shared collection centralizes partner collaboration

The final Summer Launch feature, shared collection, is aimed at the growing share of buyers purchasing with a partner.

Shared collection replaces that with a single, shared workspace inside Zillow where buying partners can save, organize and compare homes together in real time. Any update — such as saving or removing a listing — is immediately visible to all participants across iOS, Android and the web.

Zillow’s latest rollout continues a multi-year push to control more of the consumer journey from search to close. The personalized hub, embedded financing via Verified Pre-approval and pre-market exposure through Zillow Preview all move key steps of the transaction inside Zillow’s app.

Ongoing tech buildout at Zillow

This launch follows a series of technology pushes by Zillow aimed at streamlining the homebuying process and capturing more consumer engagement across the full transaction.

In summer 2025, Zillow rolled out SkyTour, an interactive 3D exterior home tour built on Gaussian splatting technology from the gaming industry, and Offer Insights, which gives buyers real-time feedback on how competitive a given offer price might be.

In fall 2025, the company launched in-app messaging for co-shoppers, AI-powered virtual staging on Showcase listings, and an integrated closing dashboard connecting search activity with back-office closing workflows.

Earlier in 2026, Zillow introduced Zillow AI mode, a conversational AI built into the app that lets buyers and renters ask questions in plain language, explore neighborhoods, compare affordability and book tours and Zillow Preview, its pre-marketing product for sellers and listing agents. 

This article was written by Brooklee Han and generated with the assistance of HousingWire Automation, then reviewed by a HousingWire editor before publication.

This post was originally published on here

Former US congresswoman Marjorie Taylor Greene followed far-right political commentator Tucker Carlson in breaking ties and rebuking the Republican Party in a X/Twitter post on Monday.

“Tucker is not the only one who is done supporting the Republican Party. There is A LOT of us that are absolutely fed up and will not support a party that betrays its voters and country,” Greene announced.

“That does not mean we are turning into Democrats either. But we are DONE with the America LAST Republican Party.”

Greene’s comments came after Tucker Carlson stated in a podcast that “there’s no chance I would support the Republican Party” in reference to the upcoming midterm elections in November.

Both pointed out that breaking with the GOP didn’t mean they were supporting the Democratic Party.

Since the US went to war with Iran, a segment of the GOP has been increasingly critical of Trump

Both Greene and Carlson have been vocal critics of the Trump administration’s handling of the economy, the so-called Epstein Library, and the Iran War during his second term.

After the US-Israeli strikes on Iran at the end of February, Carlson publicly apologized to his almost 18 million followers on X for encouraging them to vote for Trump in the 2024 Presidential elections. With that, he dismissed the candidate and party he had supported for over a decade. 

In the same podcast episode of Can’t Be Censored, Carlson elaborated on why he would not endorse the GOP.

“How could I or any American voter support a political party that’s not loyal to the United States. That puts the interests of a foreign country above those of its own citizens.”

Carlson has characterized Trump’s 2024 presidential campaign as funded largely by people “loyal to Israel” and that the pro-Israel lobby is forcing him to pursue policies that are harmful to the US and its citizens. 

“What we know for certain is that the United States went to war with Iran, a war we are losing, that we’ve effectively lost already, because of pressure from the Prime Minister of Israel Benjamin Netanyahu,” Carlson asserted.

Trump has repeatedly dismissed any claims that he has been manipulated by Prime Minister Netanyahu or any other foreign actors.

“I call the shots. I call all the shots… [Netanyahu] doesn’t call the shots,” Trump said in a March interview with the Financial Times.

Like Carlson, Greene is a former Trump supporter who served as representative for Georgia’s 14th district. She resigned from office after splitting with Trump over his handling of Jeffrey Epstein’s case. Since leaving office, she has been vocal in her criticism of Trump and his allies.

Her announcement to leave the Republican Party comes as the latest fracture in a formerly solidly pro-Trump part of the GOP.

This post was originally published on here

Pro-Israel evangelical activist Laurie Cardoza-Moore urged the Texas State Board of Education on Tuesday to reject what she described as attempts by the Council on American-Islamic Relations to influence the state’s social studies standards, warning that decisions made in Texas could shape textbooks and classroom instruction across the United States.

Cardoza-Moore, founder and president of Proclaiming Justice to the Nations, spoke as the board considered proposed revisions to the Texas Essential Knowledge and Skills, known as TEKS, the state standards that determine what public school students are expected to learn.

The standards are used in evaluating instructional materials and influence how publishers, districts, and teachers present subjects including world history, religion, terrorism, Israel, and the Middle East.

“We cannot allow Texas textbooks to be written by Hamas,” Cardoza-Moore said in a statement ahead of her testimony, accusing CAIR of trying to shape how Islam and the Middle East are taught in American classrooms.

CAIR has publicly acknowledged taking part in the Texas standards process. CAIR-Texas said earlier this year that its representatives had testified before the board to urge that Muslims be “accurately represented” in world, US, and Texas history curricula.

CAIR has extensive ties to Muslims Brotherhood, previously banned terror-funding orgs. says Cardoza-Moore

In April, the organization called on the board to reject proposed social studies revisions, saying they unfairly targeted Muslims and tied Islam and Muslim historical figures disproportionately to terrorism while omitting Muslim contributions to world history and civilization.

CAIR describes itself as a Muslim civil rights and advocacy organization and has repeatedly denied allegations that it is affiliated with Hamas, the Muslim Brotherhood, or any foreign terrorist organization.

Cardoza-Moore, a longtime conservative Christian activist on textbook issues, argued that CAIR’s involvement should alarm parents and education officials.

“CAIR is the US arm of the Muslim Brotherhood, an Islamist anti-American organization bent on using the political system to destroy it from within,” she said. “They were labeled an unindicted co-conspirator in the largest terrorist fundraising operation in US history in 2007. Hamas is the Muslim Brotherhood in the Holy Land. We cannot allow Texas textbooks to be written by Hamas.”

Federal prosecutors listed CAIR as an unindicted co-conspirator in filings connected to the Holy Land Foundation case, a landmark Dallas terrorism-financing prosecution involving support for Hamas. CAIR was not charged with a crime in the case. The Holy Land Foundation and five of its leaders were convicted in 2008 of providing material support to Hamas.

The Texas curriculum debate has become part of a wider political fight over Islam, Christianity, Israel, and minority history in American public education. The State Board of Education gave preliminary approval to the social studies overhaul in April after a contentious debate over the portrayal of Islam, Black history, Hispanic history, Christianity, and terrorism.

‘Not just making decisions for Texas’

Texas officials are now considering the standards for second reading and final adoption. The proposal covers elementary, middle school, high school, and other social studies courses. Public comment on the proposal ran from May 15 to June 15, and the Texas Education Agency said the board would take registered oral and written comments during the June meeting.

Cardoza-Moore said Texas carries influence beyond its own classrooms because it is one of the largest textbook markets in the country.

“Texas is not just making decisions for Texas,” she said. “What happens in Texas rarely stays in Texas. Because Texas is one of the largest textbook markets in the nation, its curriculum standards often influence educational content adopted by more than twenty other states. The decisions made today could shape what millions of students learn for the next decade.”

In remarks prepared for the board, Cardoza-Moore invoked the historical bond between Tennessee and Texas, citing Tennesseans who fought at the Alamo, including Davy Crockett.

“Today, PJTN comes to Austin in that same spirit, not with weapons, but with a commitment to truth, education, and the defense of our shared Judeo-Christian values,” she said. “The battlefields may have changed, but the stakes remain high.”

Cardoza-Moore has served on Tennessee’s Textbook and Instructional Materials Quality Commission and has been active for years in state-level textbook debates. She drew national attention in 2012 after objecting to content in a Tennessee human geography textbook that she said appeared to justify the 2001 Hamas suicide bombing of the Sbarro pizzeria in Jerusalem, where 15 people were killed.

The dispute over CAIR’s role in Texas comes months after Gov. Greg Abbott designated CAIR and the Muslim Brotherhood as foreign terrorist organizations and transnational criminal organizations under Texas authority. CAIR and affiliated legal groups sued Abbott and Texas Attorney General Ken Paxton days later, calling the designation unconstitutional and defamatory. CAIR has maintained that it operates lawfully as an American civil rights organization.

Cardoza-Moore said the board should focus on historical accuracy and resist pressure from activist groups.

“Students deserve historical accuracy, not political indoctrination,” she said. “They deserve to learn the truth about America’s Judeo-Christian heritage, the role of the Jewish people in our nation’s founding, the history of Israel, and the forces that threaten freedom and our Republic.”

For Cardoza-Moore, the Texas debate is a national test case.

“Just as Tennesseans stood with Texas in one of its defining moments,” she said, “we stand with Texas today as it considers educational standards that will influence classrooms not only across the Lone Star State, but throughout America.”

This post was originally published on here

Imagine what would happen if a known antisemite like New York mayor Zohran Mamdani, Maine Senate candidate Graham Platner, Louis Farrakhan, or David Duke mocked Israel’s right to self-defense when attacked.

There would undoubtedly be a legitimate uproar.

Imagine if the vicious criticism vilifying the Jewish state was uttered with a smirk during a war of defense that began with the most Jews murdered in one day since the Holocaust.

There would certainly be a well-deserved public outcry.

And imagine that the nasty condemnation of America’s most dependable ally was said to a media outlet known for besmirching Israel exuberantly.

It would of course have ruffled some feathers.

But that uproar, that outcry, and that feather ruffling have been conspicuously absent since one of the most antisemitic and outrageous comments ever made was uttered on Thursday.

Perhaps because they happened to have been said by the man who is unfortunately the vice president of the United States, JD Vance?

I understand why Jewish organizations would be reluctant to challenge such a powerful man, who could become our commander in chief in a heartbeat, if our 80-year-old president does what a lot of 80-year-olds do every day.

Vance’s comments about Israel

But listen to what Vance told The New York Times when asked how he would respond to Israeli cabinet ministers who oppose the memorandum of understanding he reached with Iran.

“I guess my response to them would be: What is your exact proposal?” Vance said. “You’re a country of nine million people. You can’t just kill your way out of solving every single national security problem that you have.”

Excuse me? That is pure antisemitism. We are not killers.

The world’s greatest experts on urban warfare have concluded that Israel has done more to avoid civilian deaths among its enemies than any army in the history of mankind on this earth.

We want peace more than anyone. But to achieve it, we are not willing to lay down our arms, surrender, drop dead, and disappear without a fight.

Our low numbers are not a coincidence, and they should never be ridiculed. We have endured pogroms, plagues, a Holocaust, and an October 7 massacre that our enemies have pledged to repeat again and again with the support of their sponsors whom you met at a summit in a Swiss castle.

This was not the only outrageous statement Vance said ahead of the summit.

“If I was in the cabinet of the Israeli government, I might not be attacking the only powerful ally that I have anywhere left in the entire world,” he said during a White House news briefing.

That is not true. Israel maintains many alliances with many countries, especially the many countries threatened by the prospects of a nuclear Iran.

“The other thing that I would say is that over the last three months, two-thirds of the defensive weapons that have protected your homeland have been built by American hands and paid for by American tax dollars,” he said, forgetting the strong cooperation between the Israeli and American allies in Iran during Operation Epic Fury.

So where is the ADL? Where is the National Jewish Democratic Council? Too busy celebrating Juneteenth and repeating their mistakes that led to American Jews not being ready for the aftermath of October 7.

The only one who responded to Vance’s vicious attack was one of the Israeli cabinet ministers who had called him out.

“This is the proposal, @JDVance,” National Security Minister Itamar Ben-Gvir wrote to him on X/Twitter. “To deal with the Nazis of the 21st century, just as the United States dealt with the Nazis of the 20th century.”

The Culture for Peace Institute that I head seeks nothing more than a just peace. But the vice president’s memo does not and will not promote or advance peace.

What Vance said should still be slammed by every Jewish organization, or he will believe he could get away with his antisemitism.

After October 7, Vance’s initials became “Jews’ Demonizer.”

The writer is chairman of the Religious Zionists of America and president of the Culture for Peace Institute. He was appointed by former US president Donald Trump and serves as a member of the United States Holocaust Memorial Council. The views expressed are his own. Martinoliner@gmail.com

This post was originally published on here

Like most born and raised New Yorkers, I believed my home was the center of the universe. Since I’ve moved to Israel, I’ve watched how New York congressional candidates have made my new home their epicenter rather than their future districts. 

Between June 20 and June 21, 2026, MS NOW aired no fewer than four interviews with New York congressional candidates and a campaign strategist on its panel show “The Weekend: Primetime”. In every interview, either the guests themselves or panelist Ayman Mohyeldin raised the subject of the “genocide” in Gaza.  

In doing so, the network’s panelists demonstrated a dangerous trend in modern journalism: media personalities acting as judge and jury, flattening strict international law into a political talking point. 

The only candidate MS NOW interviewed who refused to label Israel’s war in Gaza a “genocide” was Jack Schlossberg, running in New York’s 12th congressional district.  

It was hard to ignore Mohyeldin’s dismay after Schlossberg refused to capitulate to this narrative, even after the anchor pushed back twice.  

Yet Mohyeldin’s passionate advocacy for the label ironically revealed how little he, or his co-panelists Elise Jordan and Catherine Rampell, understand about what the word actually means. Genocide is not a colloquialism, a feeling, or a matter of opinion; it is a legal charge with a stringent threshold. Under the 1948 UN Genocide Convention, the crime requires a specifically proven “intent to destroy, in whole or in part, a national, ethnical, racial or religious group.” 

The burden of proof in the newsroom

In the newsroom of MS NOW, however, the burden of legal proof appears entirely optional. 

For instance, when Mohyeldin attempted to corner Schlossberg, he pulled up a recent social media post by Israeli Minister Itamar Ben-Gvir calling to “burn” Lebanon. Mohyeldin triumphantly asked if this rhetoric was genocidal. While this rhetoric is undeniably incendiary, using a quote about Lebanon to prove a legal charge of genocide in Gaza reveals a profound misunderstanding of how specific evidentiary standards work. The legal definition of genocide requires the intent to destroy a distinct, specified group; a post about a completely different country is legally irrelevant to the charge at hand.  

Furthermore, Israel’s prime minister quickly and explicitly refuted Ben-Gvir’s statement. By weaponizing selective, irrelevant details, Mohyeldin demonstrated both his ignorance of the evidentiary standard and a clear agenda to malign Israel regardless of the facts. 

The panel’s legal illiteracy was compounded when Schlossberg himself stumbled, incorrectly stating that the International Court of Justice (ICJ) found it “plausible” that Israel was committing genocide. Strikingly, none of the panelists corrected him. Had they done their journalistic homework, they would know the ICJ issued a narrow ruling in January 2024 on the “right to be protected,” not on the merits of the genocide charge itself. Former ICJ president Joan Donoghue explicitly corrected this widespread media error on the BBC in April, stating: “The court did not decide… that the claim of genocide was plausible.” 

The nadir of the interview arrived when Jordan challenged Schlossberg. Acknowledging his Juris Doctor from Harvard, she asked him what he “sees” as a situation that “qualifies as genocide.” Jordan fundamentally misunderstood that a legal definition is a fact, not a matter of personal opinion.  

In a very clear double standard, the MS NOW panelists abandoned this rigorous cross-examination when interviewing other guests over the last weekend – such as candidates for NY-7 Antonio Reynoso and Claire Valdez, and strategist Morris Katz. When they casually dropped the phrase “genocide in Gaza,” the panelists never asked them to justify their accusation.  

Consider Valdez, who claimed to stand up for the dignity and security of “people everywhere.” The hypocrisy of her interviewers was obvious when they failed to ask if that dignity and security extended to Israelis. They gave her a complete pass, ignoring both her admission to protesting Israel just after the October 7 Hamas massacre and her pledge to block Iron Dome funding, a policy that endangers Israeli lives. 

Likewise, when Katz decried “taking money from AIPAC” and “sending taxpayer dollars to fund more of Netanyahu’s wars” as signs of corruption, the panel simply nodded along.  They failed to question his hyper-fixation on an American lobbying group lawfully advocating for pro-Israel policies, while ignoring hostile foreign governments like Russia, Iran, and China that attempt to sway US elections. The MS NOW panelists only sought to scrutinize the one candidate who insisted on maintaining a fact-based, legally accurate argument. 

Genocide is a legal term, and whether a state committed it must be proved in court, not in the newsroom. The architects of the post-World War II order envisioned international law as the bedrock of a liberal democratic world, empowering courts to pursue justice against perpetrators of the ultimate evil based on rigorous evidence. 

When media personalities bypass this process, deciding Israel’s guilt in a studio rather than a courtroom, they set a dangerous precedent. They cease to act as journalists and instead mimic the outlets run by authoritarian regimes, where guilt is presumed before innocence and verdicts are decided by political narratives rather than evidence. 

New Yorkers who value democracy and the liberal world order should consider what kind of world they seek to live in and remember this when they watch complex, legal realities co-opted into colloquial political smears. 

The writer is a US media researcher at the Committee for Accuracy in Middle East Reporting and Analysis (CAMERA) in Israel. She was previously a Breaking News Desk Manager at The Jerusalem Post. She grew up on the Lower East Side of Manhattan.

This post was originally published on here

On June 22, Israel’s Ministry of Defense posted about “deepening ties Eastward.” The reference was about the ministry’s director general leading an official defense delegation to India. Meanwhile, the IDF posted a photo of a June 21 meeting between the Hellenic Navy Chief of General Staff, Vice Admiral Dimitrios-Eleftherios Kataras, and the Commander of Israel’s navy, Vice Admiral Eyal Harel.

The Defense Ministry’s Director General Amir Baram noted, “India is a key strategic partner of the State of Israel. This important visit, the result of a lengthy bilateral preparation process, reflects the great importance that India and Israel attach to expanding their growing defense and industrial alliance – but no less so, the depth of the bond between our two nations.”

Baram called it “a bond rooted in shared values, deep cultural appreciation, and mutual trust that goes well beyond mere interests. That is what makes this partnership unique, and the joint projects we are advancing together all the more meaningful.”

The two meetings are important. They illustrate the important defense and security ties that Israel has with India and Greece. When one considers the more expanded bloc of countries with which Israel has positive relations, such as Cyprus, as well as Bahrain and the UAE, this forms a long line that connects the Indian Ocean to the Mediterranean.

The two meetings are important. They illustrate the important defense and security ties that Israel has with India and Greece. When one considers the more expanded bloc of countries that Israel has positive relations with, such as Cyprus, as well as Bahrain and the UAE, this forms a long line that connects the Indian Ocean to the Mediterranean.

Region’s instability can be tied to Hamas’s Oct. 7 attack, meant to stall peace initiatives

This is a key example of the role that Israel and its friends can play in the India-Middle East-Europe Economic Corridor (IMEC). The corridor has been discussed over the past several years. It is part of a growing list of connections formed in the region linking Europe and Asia.

The Middle East Institute in June 2026 defined IMEC as “a proposed multinational infrastructure initiative aimed at upgrading connectivity between the three regions through integrated trade, energy, and digital networks. Announced at the Group of 20 (G20) Summit in New Delhi in September 2023, IMEC is envisioned partially as a counterweight to China’s international infrastructure project, the Belt and Road Initiative (BRI).”

The institute’s article notes that the “multinational initiative consists of two main segments: an Eastern Corridor linking India to the Persian Gulf and a Northern Corridor connecting the Gulf to Europe via the Levant and Mediterranean. Its multimodal infrastructure, including railways, deep-water seaports, electricity grids, and high-speed data cables, could potentially reduce shipping costs by billions and shipping times by up to 40% compared to traditional routes. At present, however, the corridor in its original form is effectively on hold due to regional instability.”

The instability is related to the conflicts in the region, particularly the Israel-Hamas War and its aftermath. Hamas attacked Israel on October 7, at least in part, to sabotage Israel’s growing ties in the wake of the 2020 Abraham Accords.

New initiatives have seen rejuvenation after Gaza ceasefire

The fact that initiatives such as the Abraham Accords appear to have stalled – in terms of major public meetings and new members – illustrates the challenge for Israel.

Other initiatives, such as I2U2, the Negev Forum, and the Atlantic Council’s N7 Initiative, all appear to be in a kind of limbo.

Now there is potential movement. With the wars winding down and the US and UN-backed peace deal in Gaza, as well as the US-Iran talks in Switzerland, there is an opportunity for a brave new world to emerge.

How might this happen? Military and trade ties are important. Countries such as Pakistan are playing a key role in the Iran talks. India, a friend of Israel’s, has generally been a rival of Pakistan.

Qatar is also playing a role. Meanwhile, Saudi Arabia, Egypt, Turkey, and Pakistan are also working together increasingly on regional policy. For some in Jerusalem, this represents a potential challenge.

While many public meetings have been on a kind of hiatus in terms of the Abraham Accords, India, Israel, Greece, and Cyprus have continued to hold key engagements.

The recent meetings with the Greek navy are an important example. The IDF noted that “the visit reflects the depth of the security relationship between Israel and Greece and the shared commitment to further strengthen strategic and operational cooperation between the two countries.”

Meanwhile, in India, the director general of the Israel Ministry of Defense (IMOD), Maj.-Gen. (Res.) Amir Baram held a series of high-level meetings with India’s defense minister, defense secretary, chief of defense, chief of staff, and other senior officials from India’s Defense Ministry.

Both sides discussed avenues for deepening bilateral defense and industrial cooperation,” Israel’s Defense Ministry.

The ministry went on to say, “This visit reflects the defense minister and the Defense Ministry’s strategy to expand defense exports as a tool for strengthening the IDF’s force build-up, shaping foreign policy, and bolstering the Israeli defense industry and economy. It is part of a broader effort to widen Israel’s circle of strategic partnerships, with an eastward focus and deepen cooperation with key nations in the region.”

This post was originally published on here

The European Union’s decision to host Taliban officials in Brussels on Tuesday has drawn widespread criticism from human rights activists, who note that members of the group were granted visas despite its documented crackdown on women’s rights since returning to power in 2021.

The discussions are planned to go ahead as part of Europe’s plan to deport failed Afghan asylum seekers. According to data published by the union, member states received around a million asylum applications from Afghans between 2013 and 2024, with roughly half approved.

The five Taliban representatives are permitted to spend only one day in Belgium, exclusively, per their visa conditions announced on Monday.

“Member states are looking into ways to return persons who have committed serious crimes and who are possibly a security threat. So this is the initiative that the [European] Commission is now following up on,” European Commission spokesman Markus Lammert told the EU’s daily press briefing on Monday.

Since its return to power in Afghanistan, the Taliban has steadily rolled back women’s rights, banning girls aged 13 and up from attending school and legalizing domestic violence and child marriage from as young as nine.

Taliban fired at modesty-law protestors

More recently, the organization has begun abducting women whom it claims have violated its hijab policy and opening fire against those demonstrating against their detention.

Afghan journalist Mursal Sayas told The Jerusalem Post that she wanted to see the global community pressure the Taliban into respecting human rights and that part of that pressure campaign would see the EU cancel the visas.

Additionally, she urged Germany to sever relations with the Taliban and remove its consul from the country.

“Countless individuals have been tortured and abused in prisons,” Sayas told the Post. “This ongoing situation represents a severe escalation, with children and women being beaten in the streets and kidnapped over the issue of hijab. Reports also indicate that the authorities are demanding money from families for the release of these girls and women.”

Fereshta Abbasi, an Afghanistan researcher at Human Rights Watch, also asserted that “Any engagement with the Taliban needs to prioritize protecting human rights and accountability – not deporting people to danger there.”

Eve Geddie, director of Amnesty International’s European Institutions Office, commented, “The desperate scenes of people – including EU staff – fleeing Afghanistan are a recent memory. It is unconscionable that the EU would now try and deport people to Afghanistan, which has only become more dangerous in the meantime.”

Socialist Member of the European Parliament (MEP) Juan Fernando López Aguilar, according to The Guardian, also said he was “appalled” by the EU’s decision to host members of the Taliban, given the ongoing human rights violations.

“It’s absolutely an outrage and a total loss of faith and the credibility of the European Union that it can hold such a double standard,” he said.

MEP Hannah Neumann, of the European Free Alliance, along with 27 other MEPs, wrote to the EU’s leadership to complain that the talks violated terms agreed upon in 2021 and reaffirmed only months ago, which clearly stated there would be no normalization or implicit legitimization of the Taliban.

Outside of the Taliban’s repressive policies, Afghanistan is currently mired in a deep humanitarian crisis. According to the UN World Food Programme, more than 17 million Afghans are “food insecure.”

The International Rescue Committee also reports that hunger affects around 40% of the population.
 

This post was originally published on here

Iran alone will decide how to use assets that are unfrozen under a deal with the United States, an Iranian envoy said on Tuesday, denying Washington would have any control over the funds or that they must be used to buy US commodities.

The US waived sanctions on Iran for 60 days from Monday after the talks in Switzerland on turning an interim deal into a lasting peace agreement. Frozen Iranian assets worth about $12 billion are expected to be released under the initial accord.

Vice President JD Vance said on Monday that the US and Qatar would have control over the funds when they are unfrozen, and that the money ⁠could be ​spent on US corn, soy, and wheat.

Ali Bahreini, Iran’s ambassador to the United Nations in Geneva, said on Tuesday the two sides had held “very good talks” but challenged Vance’s statement on the use of the assets.

“Iran is the only country to decide what to do with its assets, which are going to be defrozen, and so I reject any claim about that if there would be any role for any other country to have an influence on those decisions or on those processes,” Bahreini told reporters in Geneva.

Frozen assets largely consist of oil revenues and CB reserves trapped overseas

He said two working groups would be established in the coming days to discuss the removal of sanctions against Iran and issues related to Iranian nuclear activities.

Iran’s frozen assets largely consist of oil revenues and central bank reserves trapped overseas, built up over years of sanctions.

Bahreini said there would be some technical arrangements made by Washington and Doha, because the assets were frozen by the US, and some are in Qatar.

“Certainly Iran does not allow them to have further influence on the other processes, which have been related to buying the commodities and importing them. That is something that Iran, and only Iran, will decide,” he said.

Lebanon ‘red lines’

Bahreini said the lifting of sanctions on the sale of Iranian oil and chemical products was a test which could be extended to other items and that Iran sought the complete removal of sanctions.

Bahreini also underlined the importance to the US-Iranian deal of fighting ending in Lebanon, where US ally Israel has been battling Iran-aligned Hezbollah militants.

“Iran’s ‘red line’ is any more attack against Lebanon,” he said, urging Washington to “use all its leverage” on Israel to halt the violence.

A ceasefire has largely held in southern Lebanon since Sunday, but Lebanon’s Civil Defence and state media said Israeli gunfire had killed two people there on Tuesday. Hezbollah said the incident violated the ceasefire.

The Israeli military said it had “struck armed terrorists who posed an immediate threat” to soldiers in southern Lebanon, but it was not clear if this was the same incident.

This post was originally published on here

Morocco, Albania, and Greece will join the International Stabilization Force (ISF) in Gaza, which will handle peacekeeping operations during the Trump administration’s Phase II of the ceasefire, The Jerusalem Post has learned.

There is still no specific information on the timing of deployments to the three new countries, but by mid-January, reports indicated that Morocco would team up with Indonesia as the two largest peacekeeping forces.

A small number of Moroccan planning officers have already arrived to take part in discussions on the future International Stabilization Force for Gaza (ISF), which could mark an early operational step toward the long-delayed multinational force, the Post has learned.

The officers are involved in planning work and are not being deployed into Gaza at this stage, officials familiar with the matter stressed. The number of officers is understood to be in the single digits.

Still, the move is significant because Morocco had already been named as one of the countries expected to participate in the ISF, and the arrival of planning officers suggests that at least part of that commitment is beginning to move from public pledges to operational preparation.

Indonesia first country to join ISF mission, contributing 8,000 soldiers to Gaza

The development comes months after the Post reported that Morocco and Albania were expected to join the ISF, which is intended to handle aspects of peacekeeping in Gaza during Phase II of the Trump administration’s ceasefire plan between Israel and Hamas.
KAN News also reported at the time that Greece was expected to join the force.

Those developments followed the announcement that Indonesia would be the first country to join the ISF mission. The Associated Press reported at the time that Indonesia’s contribution was expected to begin with 1,000 soldiers in April and reach around 8,000 by June, although questions remained over whether conditions in Gaza would allow such a deployment to go ahead.

In February, ISF commander, US Army Maj.-Gen. Jasper Jeffers, said that Indonesia, Morocco, Kazakhstan, Kosovo, and Albania had committed troops to the force. Egypt and Jordan, he said, had committed to training Palestinian police forces.

The long-term plan, according to Jeffers, was for the ISF to reach 20,000 troops and to train 12,000 police officers. The force was expected to begin in Rafah and expand sector by sector.

Morocco’s role is especially sensitive and important. The country normalized relations with Israel under the Abraham Accords in 2020 and has maintained special defense ties with Israel since then.

A Moroccan role in Gaza’s postwar security arrangements would carry diplomatic weight, particularly among Arab and Muslim-majority states still weighing whether to take part in the US-backed plan.

In December 2025, the Post reported that the US-led Civil-Military Coordination Center (CMCC) was already working with Israel and international partners on Gaza rebuilding plans and preparations for the ISF.

That planning included how the force would move between Israel and Gaza, how materials would be transferred through Israel for stabilization work, and what rules of engagement the force would eventually operate under.

At the time, defense sources said there had been extensive discussion about the force but no real progress in getting it off the ground. 

The IDF has also been involved in talks with the CMCC regarding the ISF’s mission parameters. Israel has pushed for the force to have clear goals for disarming Hamas and to avoid becoming what Israeli officials have described as a “UNIFIL 2,” a reference to years of Israeli criticism that the UN peacekeeping force in Lebanon failed to prevent Hezbollah’s military buildup.

Israeli officials have previously expressed concern that an international force in Gaza could be asked to supervise ceasefire lines without directly confronting Hamas or disarming the terrorist organization.

ISF to supervise ceasefire, not expected to confront Hamas militarily

Previous Post reporting also indicated that the ISF and participating countries, including Indonesia, were not expected to seek direct confrontation with Hamas at the initial stage.

Instead, the force has been expected to supervise current ceasefire lines and possibly handle other border-related issues.

No final timetable has been set for a broader Moroccan deployment, and it remains unclear whether Rabat will ultimately send combat troops, police personnel, or a smaller support contingent.

For now, Morocco’s involvement appears limited to planning.

But in the context of Gaza’s stalled postwar security arrangements, even a small Moroccan presence may be an early sign that the ISF is beginning to take shape.

This post was originally published on here

Belong, a private aliyah-promotion initiative, issued a challenge to US President Donald Trump on Tuesday: “If you think the agreement with Iran is a good one, call on your daughter and son-in-law to make aliyah to Israel.”

As part of their campaign, Belong shared a satirical, AI-generated video showing the president arriving at Ben-Gurion Airport and saying he’s in Israel to “visit his grandchildren,” who, of course, live in Ramat Trump.

At customs, when asked if he has anything to declare, he announces, “Jews of the world, Israel needs you! Come and take what’s yours!”

Trump then meets Ivanka Trump and Jared Kushner, and the three drive off together toward Ramat Trump, with a narrator asking if the two will move to Israel, and whether the president will celebrate his 81st birthday in the Holy Land.

The message of the video is clear: Will Trump be willing to put his money where his mouth is, and is the agreement with Iran still worth it when it’s his own family’s safety on the line?

“Belong believes every Jew has a place in Israel’s story. We encourage Jews around the world to take an active role in shaping the future of Israeli society,” Eilon Gilad, CEO of Belong, told The Jerusalem Post.

“The Trump video is the first in a series of short AI-generated clips inviting Jews everywhere to claim what is theirs: the opportunity to help build a thriving, democratic, and flourishing Israel,” Gilad said.

According to Trump, MoU is Iran’s ‘unconditional surrender’

The video came after Trump repeatedly praised the agreement with Iran, including in a recent interview with Axios.

Trump told the outlet that there were no limits to his power and that he believed the Memorandum of Understanding between Washington and Tehran constituted Iran’s unconditional surrender, which Iran has, naturally, contested.

Trump appears to be the only one calling the deal a victory, as a recent survey conducted by the Agam Institute and the Hebrew University of Jerusalem found that the majority of Israelis view the MoU as a win for Tehran and a loss for Israel’s long-term security.

This post was originally published on here

Iran is moving fast to sell its oil again. On Monday, June 22, 2026, the US Treasury issued a temporary 60-day license allowing the production, sale, and shipment of Iranian crude — and within hours, sellers tied to Iran’s state oil company began phoning refiners across Asia. The license runs through August 21 and gives buyers in China, India, Japan, and South Korea a clear legal path to purchase Iranian oil openly for the first time in years.

The urgency is real. Middlemen and representatives from the National Iranian Oil Co. reached out to refiners in India, Japan, South Korea, and elsewhere even before the waiver was officially granted, according to traders involved in the talks. Iran has a backlog of cargoes already loaded onto tankers and sitting at sea, waiting for buyers. Clearing them quickly means cash flowing back into an economy battered by years of sanctions.

The waiver did not appear out of nowhere. It follows a memorandum of understanding that Washington and Tehran signed on June 17 during talks in Switzerland, aimed at calming the conflict in the Middle East and reopening the Strait of Hormuz, the narrow waterway that carries roughly a fifth of the world’s oil. The latest round of negotiations, held at Lake Lucerne, ran from Sunday into the early hours of Monday, with Vice President JD Vance leading the US side and Iran’s parliament speaker, Mohammad Bagher Qalibaf, heading Tehran’s delegation.

But the relief comes with a giant asterisk. The license is explicitly temporary and tied to continued progress in the talks. If negotiations stall or fall apart, the Treasury can simply let it expire on August 21, snapping sanctions back into place overnight. That makes any deal to buy Iranian oil a gamble — refiners could be left holding cargoes that suddenly become illegal again.

For years, China has been Iran’s biggest oil customer, buying through a shadowy network of intermediaries and ship-to-ship transfers to dodge sanctions. Small independent Chinese refiners, known as “teapots,” have feasted on deeply discounted Iranian barrels that other buyers could not legally touch. That discount has been their secret edge.

Now that edge is under threat. India, once Iran’s second-largest buyer before it pulled back in 2018, is moving back in. During an earlier, shorter waiver this spring, Indian refiners jumped at the chance: state-owned Indian Oil Corporation bought its first Iranian cargo in seven years, and private giant Reliance Industries scooped up millions of barrels. With India bidding again, Chinese refiners may have to pay more for the same oil they once got cheaply.

Homayoun Falakshahi, head of crude oil analysis at the data firm Kpler, said much of Iran’s oil sits unsold on tankers until it reaches Asian hubs like Singapore and Malaysia, so releasing those cargoes has an immediate effect on supply. With India back as a competitor, he noted, the price China pays is likely to rise.

The market felt the news immediately. US crude oil prices fell about 2.7% to roughly $74 a barrel, their lowest since before the conflict began in late February, as traders braced for a fresh wave of Iranian barrels hitting an already well-supplied market. More oil generally means lower prices — and that points toward cheaper gasoline and diesel down the road for drivers and businesses around the world.

For American households, the ripple effects are mostly welcome. Cheaper crude eases pressure at the pump and takes some heat out of inflation, giving families and companies a bit of breathing room after a year of energy-driven price spikes. For Iran, the stakes are even higher: oil sales are the lifeblood of its economy, and the waiver is a rare chance to refill state coffers and steady a currency that has lost much of its value.

The next two months will test whether this fragile arrangement holds. If the talks keep moving and the license is eventually extended or made permanent, Iranian oil could return to world markets in a lasting way, reshaping who buys crude from whom across Asia. If the diplomacy collapses, the barrels now changing hands could be frozen out just as fast as they returned. For now, Iran is selling everything it can, while the window is open.

JBizNews Desk

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

Like other legislatures around the United States, the New York State Legislature spent the first half of this year considering policy on controversial topics that affect commercial real estate development. When both chambers adjourned their 2026 legislative session in early June, two bills they had passed demonstrated the antithetical approaches to development policy that many other states are currently deciding between.

On the one hand, there was the Responsible Data Center Development Act (A.11560/S.106420), a one-year moratorium on data center development that, if signed into law, will become the harshest statewide restriction on data center development in the nation. On the other hand, A.10009-C/S.9009-C, the state’s budget bill for fiscal year 2026-2027, included a significant reform of the State Environmental Quality Review Act (SEQRA) that both NAIOP chapters in New York – NAIOP Upstate New York and NAIOP New York City Metro – supported during their Day at the Capitol in Albany earlier this year. These diverging approaches to development policy within the same state illustrate the crossroads at which many states find themselves while trying to fulfill promises of affordability.

Though data centers have existed for decades, opposition to data center development rapidly became a prominent political issue nationwide starting in 2025 amid the AI boom. Over the past year, dozens of municipalities have placed temporary bans, or moratoriums, on data center development. Though these moratoriums largely started in smaller towns, they have spread to major cities like Denver, Minneapolis and Charlotte by the spring of 2026. No state has yet enacted a data center moratorium, though there has been one close call. Maine passed a one-year moratorium bill through both chambers of its state legislature in April 2026; however, an unexpected veto from Governor Janet Mills killed that effort until at least 2027. Now, New York has become the second state to pass a data center moratorium through its legislature and potentially will become the first to enact it.

New York’s Responsible Data Center Development Act contains multiple provisions affecting development of data centers, which the bill defines as any facility with a peak electrical power demand of at least 1 megawatt that is used for computing or related services. The strictest regulation, of course, is the one-year development moratorium, which will freeze permitting for “large” data center projects with peak loads of at least 20 megawatts. Additionally, these “large” data centers will face a new public utility classification for their electricity and water usage, provide benefits programs for the local community where the data center is located, and host a public hearing on development at least three months before receiving a permit. All data centers with peak loads of 5 megawatts or higher will face strict renewable energy and prevailing wage labor mandates, while data centers of any size will have to comply with energy efficiency requirements. Finally, the bill directs the Department of Environmental Conservation to complete an 18-month study on the environmental impact of data centers to inform future regulations. New York Governor Kathy Hochul has until Dec. 31 to decide whether to sign or veto this bill, meaning it could take quite some time to know if New York will become the first state with a data center moratorium.

In contrast to the anti-development posture of the data center moratorium bill, the state’s budget, signed by Hochul in late May, contained major reforms to New York’s State Environmental Quality Review Act (SEQRA). Modeled off the federal National Environmental Policy Act, SEQRA is an environmental review law that requires the completion of a lengthy environmental impact assessment prior to any discretionary government decision regarding development, such as a zoning change or special permit.

Including New York, 15 states and Washington, D.C., have a NEPA-like environmental review law, often making development much harder. The recent political debate over “affordability” has generated momentum to reform these laws; in June 2025, California majorly reformed the California Environmental Quality Act (CEQA), the strictest environmental review law in the nation, as part of an effort to address a housing shortage.

In 2026, Hochul began promoting her “Let Them Build” agenda, which included a request that the New York legislature include reforms to SEQRA in its annual budget. When NAIOP Upstate New York and NAIOP New York City Metro sent representatives to Albany earlier this year, they urged state legislators to support Hochul’s proposal. In a huge win for NAIOP and the broader development community, these reforms successfully passed as part of the budget. Now, residential developments of up to 500 units in New York City and 300 units in the rest of the state are exempt from SEQRA reviews if they are built on previously disturbed sites. This exemption also applies to certain water infrastructure projects. Additionally, stricter timelines have been placed on SEQRA review timelines, creating a more consistent environment for developers.

While these two bills only directly affect New York, many other states are currently discussing these same or similar issues right now. And as these bills demonstrate, the relevant policy solutions have the potential to either help or harm the commercial real estate development industry. If NAIOP members ensure to engage with their state and local governments, they can help ensure that more pursue the path of working with, not against, developers.

This post was originally published here

Compass has settled the Murch Telephone Consumer Protection Act (TCPA) lawsuit filed against it last June. On Monday, plaintiff Jessica Murch filed a notice of settlement with the court. 

No details of the settlement were disclosed in the one-page filing.

The TCPA suit was originally filed in mid-June of last year by plaintiff Jessica Murch against Compass, Compass Washington and two Compass agents Rachel Olson and Ansel Sanger in U.S. District Court in Portland, Oregon.

According to the complaint, Murch’s phone number was listed on the Do Not Call Registry for more than 31 days prior to the first of several calls at issue. Additionally, the filing notes that the plaintiff has never been a customer of Compass, nor has she ever consented to receive calls or text messages from the company. Despite this, in mid-August 2024, Murch claims she received four calls from Olson asking if she was interested in selling her house. 

In the complaint Murch claims that, despite telling Olson and Compass to only communicate with her via email, she continued to receive these unwanted calls through at least early June of 2025. The lawsuit was seeking class action status.

Compass had filed a motion to dismiss the lawsuit in May. The firm said it did not wish to comment on the settlement.

This post was originally published on here

Rocket Pro announced Tuesday that it is fully integrated with ARIVE, enabling direct loan submission and live status updates by syncing with its own platform in about 60 seconds.

The development marks the second phase of a partnership that began in April 2025, which initially gave brokers access to Rocket’s products and pricing through ARIVE. Now, brokers can price, submit and track loans without navigating away from the ARIVE interface. 

According to Katie Fisher (Sweeney), executive vice president of strategy and broker advocacy at Rocket Pro, only three lenders currently have this depth of integration with the platform.

“The benefit here is that you don’t have to log into a secondary system, re-upload information or convert information, and then submit,” Fisher told HousingWire. “Similarly, instead of having to log into a second system to get updates on loan status every morning, or understand how things are changing intraday, that information pushes basically right away back into the ARIVE system.”

For brokers, the Phase 2 update eliminates data re-entry and delivers more than 18 real-time loan status events — from initial contact through funding — directly into their daily workflow.

It’s all about broker choice

Rocket Pro is positioning itself around broker choice, with no platform lock-in. The move aligns with its broader strategy of accommodating varying broker workflows without requiring exclusivity to a single portal. 

While Rocket launched a loan origination system, Jupiter, in February (developed by sister company Lendesk), the company continues to invest in third-party integrations.

ARIVE, which combines a loan origination system, consumer point-of-sale interface, pricing engine and wholesale marketplace, has captured an estimated 50% market share among brokers, according to Fisher. Unlike retail loan officers who typically operate within a single, employer-provided system, brokers often juggle multiple lender portals.

“It’s just system preference,” Fisher said, comparing the choice between ARIVE and Jupiter to the preference between iPhone and Android. “They behave in different ways. They’re different price points. They’re set up in different workflows. We’re not in the business of forcing people to behave in one way or another.”

Rocket pays to participate in the ARIVE marketplace, though it does not charge brokers to work with the company or use external systems, Fisher said. Brokers pay a monthly subscription fee for access charged by ARIVE. Rocket declined to disclose the user crossover between ARIVE and its broker network.

A third phase of the ARIVE integration is currently in development. Fisher said will introduce features not yet offered by other lenders on the platform.

This post was originally published on here

Two Harbors Investment Corp.‘s latest adjournment of its special meeting underscores just how tight the shareholder math appears to be on its proposed sale to a CrossCountry Mortgage (CCM) affiliate — and how much pressure is coming from rival bidder United Wholesale Mortgage (UWM).

Two Harbors said Tuesday it has pushed its special meeting of stockholders to July 2 to allow more time to solicit proxies in favor of the CCM transaction. The meeting, originally scheduled for May 19 and delayed for a third time this week, will be held virtually.

The Two Harbors board continues to unanimously recommend shareholders vote for the CCM deal, which offers $12 per share in cash plus a pro-rated stub dividend.

According to the board, it represents “a 21% premium to TWO’s unaffected share price (December 16, 2025, the last trading day prior to the announcement of a transaction with UWMC) and a 119% premium to TWO’s fully diluted tangible book value as of March 31, 2026.”

The company has secured 47 of 53 required regulatory approvals and still expects to close in August 2026 if investors approve the transaction and remaining conditions are met.

Prior disclosures reviewed by HousingWire suggest the board may not yet have the votes it needs.

Emails between Two Harbors CEO Bill Greenberg and UWM CEO Mat Ishbia, which were included in filings with the Securities and Exchange Commission (SEC), show that as of June 15, about 73% of Two Harbors shareholders had voted and 54% were opposed to the CCM merger. 

The same email exchange revealed intensifying friction over deal structure. UWM has been pitching an alternative transaction that includes both cash and stock. Its most recent offer was $12.50 per share in cash — or at the shareholder’s discretion, 2.3328 shares of UWMC stock.

Two Harbors has pushed for all-cash consideration, arguing that the stock component would deliver far less value to investors who take the default consideration.

Based on UWMC’s June 12 closing price of $2.38, the default stock option would have implied about $5.55 per Two Harbors share, less than half of the cash headline price, the company said.

For now, Two Harbors is focused on turning around the proxy count. Stockholders who previously voted in favor of the CCM transaction do not need to take further action, the company said. Proxies already submitted will be voted upon at the reconvened meeting unless revoked. Investors who have not voted or who want to change their vote are being urged to do so. 

This post was originally published on here

A growing share of Americans are putting one of life’s most basic expenses — the weekly grocery run — on installment plans. According to a recent LendingTree report based on a survey of more than 2,000 U.S. consumers, 29% of buy now, pay later users said they have used the short-term loans to buy groceries, up from 25% a year earlier and more than double the 14% recorded two years ago. Matt Schulz, LendingTree’s chief consumer finance analyst, said the trend is a clear signal of household strain.

Buy now, pay later lets shoppers split a purchase into smaller, usually interest-free installments paid over a few weeks. Once used mostly for clothing and electronics, it has spread into everyday spending, and groceries have climbed to the third-most-common category behind apparel and tech. The shift is sharpest among younger and, surprisingly, some higher-earning shoppers. Among Gen Z BNPL users, 38% have financed groceries; among users earning $100,000 or more a year, 33% have done the same.

The deeper worry is dependence. More than half of BNPL users — 54% — said they would not be able to make ends meet without the loans, a figure that rises to 62% among parents with children under 18. And the loans are increasingly going unpaid on time: 47% of users said they made a late payment in the past year, up from 41% in 2025 and 34% in 2024. Many users stack multiple loans at once, with 63% holding more than one simultaneously.

The grocery-financing surge sits inside a broader picture of household pressure. Separate LendingTree data found that 52% of Americans say they are spending more on food than a year ago, roughly six in ten have worried about affording groceries in the past month, and nearly 90% have changed how they shop — trading down to store brands or cutting splurge items.

For the businesses involved, the implications cut both ways. BNPL providers like Affirm, Klarna, Afterpay and PayPal are seeing transaction growth, but rising late payments raise questions about credit risk in a product that has faced lighter regulation than credit cards. The Consumer Financial Protection Bureau has flagged that BNPL users tend to carry riskier credit profiles, and FICO has begun folding BNPL data into credit scores. For grocers and the broader consumer economy, the data is a warning sign: when families need a loan to cover dinner, discretionary spending elsewhere tends to be the first thing to go.

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

Sony Group is heading back to a market it has not touched since the original PlayStation was new. According to a securities filing and people with direct knowledge of the plans, the Japanese electronics and entertainment giant has mandated Bank of America and Morgan Stanley to arrange a U.S. dollar bond sale, with calls to pitch the deal to debt investors beginning Monday, June 22. It would be Sony’s first dollar-denominated bond offering in nearly three decades, a notable return for one of the world’s best-known consumer brands. In a filing with the U.S. Securities and Exchange Commission, Sony said proceeds would go toward general corporate purposes.

The plan calls for a two-part offering — bonds split into five-year and 10-year maturities — aimed at high-grade, or investment-grade, investors. The last time Sony borrowed in the U.S. dollar bond market was 1998, when it raised $1.5 billion; a former American unit of the company tapped the market once more in 2001. For a household name that sells PlayStations, movies, music and the image sensors inside hundreds of millions of smartphones, that is an unusually long absence from one of the deepest pools of capital in finance.

The reason Sony stayed away for so long is the same reason it is coming back now: Japanese interest rates. For most of the past three decades, the Bank of Japan held its benchmark rate near zero or even below it, making it extraordinarily cheap for Japanese companies to borrow in yen at home. With money that cheap, there was little reason to take on the currency risk and higher costs of borrowing in dollars. That calculation has flipped. The Bank of Japan’s recent policy tightening has pushed its key rate to the highest level since 1995, ending the era of effectively free money and making dollar debt far more competitive.

The shift is rippling across corporate Japan. As the gap between Japanese and foreign interest rates narrows, the country’s biggest companies are diversifying where and how they raise money, including selling record amounts of euro-denominated notes. Sony’s move into dollars is part of that broader rethinking of funding strategy as the cost of Japanese capital climbs and the long-running “carry trade” — borrowing cheaply in yen to invest elsewhere — loses its edge.

The timing also lines up with strong demand. Companies have been rushing to issue high-grade bonds, and investors have shown a healthy appetite for blue-chip names offering dependable credit. A marquee global brand like Sony, returning after 28 years, gives dollar-bond buyers a rare chance to lend to a diversified Japanese issuer they have not been able to access in a generation.

For Sony, the logic runs deeper than just chasing favorable rates. The company earns enormous sums in U.S. dollars — from PlayStation game sales and its online network, from movies and television through its Hollywood studio, and from music recorded and published worldwide — alongside its semiconductor and electronics operations. Borrowing in dollars gives Sony a natural hedge, matching some of its debt to the currency in which much of its revenue already flows, while broadening its base of lenders beyond Japan. The company has been reshaping its portfolio as well, including moves to separate its financial-services arm.

The deal is small in dollar terms next to some of the jumbo offerings that have hit the market this year, but its significance is more about direction than size. It signals that as Japan exits its decades-long experiment with ultra-loose monetary policy, even the most cautious corporate borrowers are recalculating where to raise money — and increasingly looking to the United States.

Pricing on the bonds is expected in the coming days, once the investor calls wrap up and Sony and its banks gauge demand, which will determine the final size and the interest rate the company pays. For global bond investors, the offering is a reminder that the end of cheap money in Tokyo is quietly redrawing the map of corporate finance. And for Sony, it closes a nearly 30-year chapter — reconnecting a company that has spent decades funding itself at home with the dollar market it left behind when its first game console was still on store shelves.

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

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.

Let’s jump right in with Lizzy’s super interesting scoop about the one-and-only person granted compassionate-use access to an experimental GLP-1. Send news tips and best guesses to John.Wilkerson@statnews.com or John_Wilkerson.07 on Signal.

Why did one man get special access to an experimental GLP-1?

Here’s what we know about the sole person granted special access to Eli Lilly’s experimental obesity drug, thanks to Lizzy Lawrence’s reporting.

Continue to STAT+ to read the full story…

This post was originally published here

National Association of Realtors (NAR) directors voted to keep national dues at $156 per member for 2027, approved a full slate of 2027 leadership and sent a proposed new ethics standard back to committee following a split vote at the trade association’s legislative meetings last week.

Ethics proposal sent back for more work

A proposed new Standard of Practice under Article 1 of NAR’s Code of Ethics drew significant debate before directors voted 497–356 to refer it back to the Professional Standards Committee for further review.

The proposed Standard of Practice 1-17 would have required members to disclose when they lack the knowledge, information or skills about a property type or geographic area needed to adequately protect and promote a client’s interests, according to NAR’s account of the meeting. The proposal was first introduced at NAR’s NXT conference in Houston last November. 

Supporters of the proposal said the language would reinforce a Realtor’s duty to put clients’ interests first by encouraging transparency when agents work outside of their expertise. Opponents questioned how “lack of knowledge” would be defined or enforced and whether the rule could deter newer agents from taking on unfamiliar segments of a market as they gain experience.

NAR’s Executive Committee had recommended that the board defeat the measure outright. The board’s move to refer the proposal back to committee leaves existing Article 1 obligations, which includes the primary duty of members to protect and promote the client’s interests while remaining honest with all parties in the transaction, unchanged, according to NAR.

Directors did approve a separate Professional Standards change requiring any request for compensation from a seller of an unlisted property to be made no later than when an offer is presented, rather than at first contact, as was previously required. 

This debate underscores how NAR’s ethics rules may evolve in response to pressure for higher professionalism and clearer consumer protections in the wake of the commission lawsuits and increased scrutiny on industry practices like referral fees. 

Dues held steady, 1.2 million members used for planning

On finance items, directors signed off on several recommendations from the Finance Committee, including using 1.2 million members as the basis for 2027 budget planning — down from 1.4 million projected for 2026 in 2025 — maintaining national dues at $156 per member for 2027 and continuing the Consumer Advertising Campaign assessment structure from 2026.

NAR’s membership dues have held steady at $156 since 2023

Keeping dues flat comes as NAR continues to navigate membership declines tied to a slower transaction market, brokerage consolidation and fallout from commission litigation and policy changes.

Advocacy and strategic plan updates

NAR’s 2026 President Kevin Brown highlighted recent movement on federal housing policy, including the Senate’s advancement of the 21st Century ROAD to Housing Act, which NAR described as one of the most significant bipartisan housing packages Congress has considered in years.

The organization credited members, Federal Political Coordinators and advocacy staff for building support around housing affordability and supply measures within the bill.

CEO Nykia Wright also briefed directors on NAR’s strategic plan and organizational initiatives, with additional progress updates expected in July. Directors are scheduled to reconvene at NAR NXT in New Orleans in November.

2027 leadership team

At November’s meeting NAR will install its 2027 leadership team, some of which were chosen during the board meeting, including a treasurer in a contested race, and they approved the rest of the 2027 leadership team by consent agenda.

Patti Fitzgerald of Florida defeated Matt Ritchie of Louisiana by a vote of 506–424 and will serve as NAR treasurer for 2027 and 2028.

The rest of the 2027  leadership team will be made up of Christine Hansen (Florida) as president, Colin Mullane (Oregon) as president-elect, Pete Kopf (Ohio) as first vice president, Chris Beadling (Pennsylvania) as vice president of advocacy and Mary Dykstra (Virginia) as vice president of association affairs. 

This article was written by Brooklee Han and generated with the assistance of HousingWire Automation, then reviewed by a HousingWire editor before publication.

This post was originally published on here

Pennymac will close its office in Franklin, Tennessee, and lay off staff within its consumer direct lending operations, citing challenging macroeconomic conditions, the company confirmed on Monday.

“Given the current market environment and following a careful review of our staffing needs, Pennymac has made the difficult decision to close its Franklin, Tennessee site and reduce the associated positions within our consumer direct lending operations,” a company spokesperson told HousingWire.

The spokesperson did not disclose the specific number of employees affected or their roles. But the impacted staff will receive severance and “a number” of employees will have the opportunity to transition to other roles within the company. The layoffs were first reported by The Mortgage Scoop.

The move comes as newly appointed Federal Reserve Chair Kevin Warsh and other central bank officials forecast increases to the benchmark interest rate in 2026 in an effort to push inflation down to their 2% target. A higher-for-longer rate environment is expected to pose continued challenges for lenders across the industry.

Pennymac was the third-largest U.S. mortgage lender in the first quarter of 2026. The company posted origination volume of $36.7 billion from January through March, representing a 29% year-over-year increase, according to data from Inside Mortgage Finance.

The Westlake Village, California-based lender and servicer reported a first-quarter net income of $82.3 million. Stronger mortgage production revenues helped offset weaker servicing results stemming from mortgage servicing rights (MSR) valuation changes and hedging losses.

In February, Pennymac announced its acquisition of Cenlar Capital Corp., the country’s second-largest mortgage subservicer, marking the first major acquisition in the company’s history. The all-cash transaction included an upfront purchase price of $172.5 million, with up to $85 million in contingent consideration payable over three years.

This post was originally published on here

Rhode Island housing advocates – conceding for the present moment – have already begun recalibrating for next year. Their latest bid for housing reform stalled during a legislative session that ended early so lawmakers could prepare for the November elections.

Those upcoming elections could alter political dynamics for next year’s session, swinging in favor of reform advocates. The biggest shift could come in the governor’s office, where incumbent Gov. Dan McKee trails challenger Helena Foulkes in early polling.

Foulkes’ platform includes plans to improve housing affordability by building more homes, a familiar theme in gubernatorial races across the country. The Rhode Island face-off between McKee and Foulkes is so contentious that the state Democratic Party didn’t endorse either candidate.

Voters choosing a different governor might also coincide with changes in Providence’s local government that could usher in rent stabilization, a measure that failed in May.

House leadership change stalls housing reform

This year, a change in Rhode Island’s House speaker stalled marquee bills after several consecutive sessions of housing reform led by former Speaker Joe Shekarchi. Shekarchi shepherded five housing reform packages and had been advancing a sixth this year.

His successor, Rep. Christopher Blazejewski, took over as speaker but did not pick up the housing mantle. Only minor bills making technical changes to existing law passed.

The stall affected key bills backed by state Rep. June Speakman, a leading proponent for housing support. One measure was the Faith-Based Affordable Housing Development Act, drawn from the “Yes in God’s Backyard” movement. It would have allowed religious institutions to build affordable and mixed-use housing on land they own. The bill would have limited local approval barriers and streamlined permitting. It would have put Rhode Island among states with similar laws.

The Faith-Based Affordable Housing Development Act is among the measures that cleared the state Senate but stalled in the House. Speakman’s proposals to legalize single-room occupancy and incentivize commercial-to-residential conversions also failed to advance out of the House committee process. Those bills are central to a supply-focused strategy that aims to add lower-cost units and reuse obsolete buildings instead of relying on new greenfield development.

Advocates are already looking beyond the current session. With the 2026 elections on the horizon, housing groups expect a reshaped legislature and plan to reintroduce key measures in 2027, potentially with newly elected lawmakers who have campaigned on affordability.

“We are disappointed where they ended up this session,” Kris Brown, executive director of housing advocacy group Neighbors Welcome! Rhode Island, told HousingWire TBD.

Brown said Speakman holds a safe House seat and will remain a housing champion. Advocates hope she becomes chair of the Municipal Government and Housing Committee next session.

Mayor and council races could change capital city dynamics

Rhode Island’s housing debate is expanding beyond zoning and supply. Rent stabilization is now the defining issue in Providence’s September Democratic mayoral primary.

The city council passed an ordinance capping annual rent increases at 4%, only to see Mayor Brett Smiley veto it. The council later came up one vote short of overriding that veto, with several members absent.

That outcome set up a stark contrast for voters. Smiley has aligned with the supply-side argument. He warns that rent caps would deter new construction and push developers out of Providence.

His challenger, state Rep. David Morales, has pledged to enact rent stabilization within his first 100 days. Morales argues that Providence is the nation’s hottest rental market. He says that reality demands immediate tenant protections.

A Morales victory would likely make Providence the only city in Rhode Island with rent stabilization, adding pressure from City Hall on state lawmakers at the State House half a mile away. Even if Morales loses, Smiley may face a city council with more advocates for rent stabilization. Most council challengers support rent stabilization and could form a veto-proof majority.

This post was originally published on here

U.S. gasoline prices have fallen for a sixth consecutive week, slipping below $4 per gallon nationally, as easing concerns over global oil supplies and improving prospects for shipping through the Strait of Hormuz provided relief for motorists during the peak summer travel season.
The national average price for regular gasoline stood at $3.93 per gallon on June 23, according to the American Automobile Association, or AAA, down from $3.99 a week earlier and more than 58 cents below levels seen a month ago.
Separate data from fuel-tracking service GasBuddy showed prices fell 14.1 cents over the past week to an average of $3.85 per gallon on Monday, extending a decline that has erased roughly 15 percent from gasoline prices since their May peak….

This post was originally published here

Hibbat Zion was a movement; it was an idea, it was a proto-Zionist vision and cause probably initiated by Dr. Leo Pinsker. His ideas predated Theodor Herzl. In fact, many of Pinsker’s fundamental concepts found their way into the works of Herzl, the acknowledged father of Zionism. The movement, which began in the early 1880’s, held its first conference in Katowice in 1884.

Hovevei Zion were clubs and groups of people who followed the idea of Hibbat Zion. They were lovers of Zion.

The movement was one of the founding forces that led to Zionism and, 70 years later, in 1948, the founding of the State of Israel. More than a mere movement, Hibbat Zion was a revolution – a revolution based on the premise that Jews should reclaim their destiny in their ancestral homeland.

Today, many Lovers of Israel have been thrown into a world of worry by US President Donald Trump and his commitment to get Iran to sign an agreement. Lovers of Israel, both Jewish and non-Jewish in the United States, are anxious and befuddled – not a comfortable position to be in – because of the little bits of information doled out on the Iranian deal.

Until now they were certain that Trump “had Israel’s back.” Trump himself used that very expression countless times.

Making sense of how this president of the United States acts and what he really thinks deep down has never been easy. The easiest response is to interpret Trump as endangering Israel and empowering Iran.

Trump is driven by a mix of self-interest, a highly sophisticated instinct for deal-making, and the fear of getting trapped in a protracted conflict. I am convinced that he does not believe that Iran has changed and that they will either gleefully or compliantly fulfill the deal they profess to accept.

If anything, he probably already knows Iran will not play by the rules and adhere to the game plan. Actually, he may even expect and silently hope that the Persian Regime goes back on the deal.

Trump is looking for a temporary pause. The pause is essential. It jump-started the markets, and it got the price of crude oil down and got it down fast. The president cum deal maker takes this as clear evidence that his plan is working, particularly – and this is important – in the short term.

Lashing out at allies, especially Israeli Prime Minister Benjamin Netanyahu, and calling on Vice President JD Vance to act as a foil to poke at Israeli leadership is a set-up for his future negotiations.

US, Israel relationship still strong

There has not been a breakdown or a breakup between Israel and the United States. Their relationship is still strong. They can and will disagree. Trump wants a deal, and Bibi wants security – and the two are not exclusive of each other. Trump likes to posture.

Trump gets frustrated with those who disagree with him. Especially if they disagree in public. Even more so if they disagree and get national and world coverage. He knows the power of the media and the impressions they create.

One of the most important outcomes of his public spat with Israel is that the Arab and Muslim world sees that Trump does not automatically side with Israel. This spat builds Trump’s credibility. And then he switches things up. He uses Vance as the attack dog, thereby allowing for a good cop/bad cop scenario. Vance attacks Israel, and Trump compliments Netanyahu.

For Lovers of Zion, it feels like a betrayal and even a catastrophic capitulation to Iran. But much as Iran does not play by the rules, Trump does not play by the rules. They make up the rules as they go along.

Trump’s issue with the Israeli prime minister with regard to Lebanon is not about policy. It is not about security. It is a question of timing and leverage. Israel wants to exert maximum leverage now. Trump wants a signed deal with Iran. And to get that, Israel must halt their military activity in Lebanon. Trump is hoping to create a system of incremental progress with Iran, not an all-or-nothing game.

Lovers of Zion must learn to understand Donald Trump. He does not and will never see his plan of action as a mistake. He does not offer apologies. His priorities shift. While Israel’s security is still important to the White House, other things have temporarily slipped into higher priority. And then they will shift back.

The asymmetry in the Iran agreement and meetings is impossible to ignore, and that’s intentional. It is part of Trump’s strategy. Trump has real leverage in the asymmetry; Iran has some and Netanyahu has none. To Trump, the deal is clear – no nukes, no endless war. Netanyahu knows that, and that is why, as of this writing, the prime minister has not publicly criticized the president.

Israel has not lost their friend in the White House. Trump is trying something new in order to break a years-long cycle and, he hopes, change the paradigm. There are still many opportunities to torpedo this deal. Before too long, this deal will be blown out of the water, and it will begin with the Strait of Hormuz.

The writer is a columnist and a social and political commentator. Watch his TV show Thinking Out Loud on JBS.

This post was originally published on here

Lebanon’s Finance and Budget Committee approved a draft law offering a visa to wealthy investors looking to establish residency in the country and benefit from the country’s tax regime in exchange for a deposit or investment of $500,000, Lebanese media reported on Monday.

“We all know that Lebanon needs to attract investors and investment as part of [its] economic, financial, and banking recovery. It is necessary to prepare for the next phase, even if we are not there yet,” the committee’s president, MP Ibrahim Kanaan, said after the meeting, according to L’Orient-Le Jour.

Kanaan told the Lebanese media site that the law would give special residency rights to non-residents, allowing them to establish a tax residence in exchange for the investment. Applicants can invest the money simply as a bank deposit, in real estate, or in a Lebanese company, the report noted.

“This mechanism would create jobs, bring money into state coffers, and encourage investment once the conditions are met. It offers the possibility of choosing a tax residence and paying taxes there, without violating bilateral tax treaties or international standards on transparency, combating tax evasion and other forms of financial crime,” Kanaan said.

Applications could cost in the hundreds of thousands of dollars for families

In addition to injecting half a million dollars into the Lebanese economy, the process would also require prospective visa recipients to pay a $50,000 fee to the government, with an additional $50,000 payment for each family member included in the application.

The potential economic benefit must also be weighed against whether the prospective plan could violate the requirements of the Financial Action Task Force.

As noted in a widely-cited LinkedIn post by Lebanese tax lawyer Karim Daher (a lecturer on Fiscal Law and Public Finance at Saint Joseph University in Beirut), Lebanon was placed on the FATF’s grey list, with many of the issues that led to the listing yet to be addressed.

FATF is notably critical of golden visa programs, having asserted in a joint 2023 report with the Organization for Economic Co-operation and Development (OECD) that such visa opportunities are susceptible to acts of bribery and corruption. Golden visas are often also treated as opportunities for money laundering, tax evasion, and sanctions avoidance.

This post was originally published on here

Anduril Industries cofounder Palmer Luckey is in talks to appoint former Israel Air Force Commander Gen. (res.) Amikam Norkin as head of the company’s operations in Israel Defense & Tech by The Jerusalem Post has confirmed. 

Norkin is currently managing partner of the Ace Capital Partners investment fund, a partnership between Key1 Capital and Aerospace Spirit – alongside Brig.-Gen. (res.) Shimon Tsentsiper, Amit Pilowsky, Danny Ackerman, and Sarel Eldor.

The fund invests in Israeli and global early‑stage companies from seed to Series A, developing dual‑use, aerospace, and defense technologies. It is currently backing four start-ups working on optical sensors for satellites, advanced robotics for ground forces, hybrid engines for vertical take-off and landing aircraft (VTOL), and a deployable VTOL platform in a box for border security and police.

Anduril is eager to copy the business model in Israel of US defense giants like Lockheed Martin and Boeing and set up similar operations. The difference is that Anduril’s ambitions in Israel appear to be broader than those of the US giants, which only integrate Israeli companies into their production chains.

“Defense tech is important for collaboration,” Norkin told D&T in a recent interview. And the timing is ideal. “Three or four years ago, investors didn’t want to deal with defense. Now it’s changed, and there is an opportunity for many VCs.”

In addition, with the tensions around the world sky-high, governments are no longer willing to rely solely on legacy defense contractors. “Governments want more private, more agile companies to be involved in defense, in order to answer battlefield questions. Small companies have unique capabilities and a quick turnaround.”

Anduril is interested in establishing its own factory in Israel, in addition to taking advantage of local R&D. Land acquisition processes have not yet begun, but this major aim reflects Luckey’s conclusions from a series of meetings held in Israel prior to the outbreak of the war with Iran in March, with Prime Minister Benjamin Netanyahu, Minister of Defense Israel Katz, Defense Ministry director general Maj. Gen. (Res.) Amir Baram, Defense Ministry head of the Budget Department Brig. Gen. Nir Weingold, and other senior officials.

Interested in acquiring the startup Kela

The entry into Israel of the world’s hottest defense company will provide a major boost to Israel’s already flourishing defense industry. As previously reported by “Globes,” during his recent visit to Israel, Luckey was interested in acquiring the Israeli defense-tech startup Kela, but its founders refused the possibility of a sale at this time. 

Anduril’s international strategy is based on collaborations with local defense companies, in order to quickly adapt to new markets. This partnership includes working with both large and small companies, from diverse fields of activity. For example, Anduril has a strategic partnership with German giant Rheinmetall, to expand its activities throughout Europe.

This partnership deals with two main areas: Barracuda series cruise missiles and Fury unmanned combat aerial vehicles. Barracuda is a series of missiles that Anduril declared from the moment they were launched that they would be about 30% cheaper than the market price. The series includes three missiles: the Barracuda-100, the smallest, is designed for a range of about 157 kilometers, and carries a warhead weighing about 15 kilograms. It can be launched from a ground and air platform. The Barracuda-250, the medium-range version, is designed for targets at a distance of 370 kilometers and can carry a 45 kilogram warhead. This version is also designed for air and ground platforms. The third, the largest version, the Barracuda-500, is designed for air launch only and carries a warhead of more than 45 kilograms for a range of about 926 kilometers.

Fury is an unmanned combat aerial vehicle developed by Anduril, which costs $25-30 million — significantly less than a F-35 fighter jet. The fifth-generation F-35 aircraft, in its version in service with the Israeli Air Force, for example, costs about $80 million — compared with other versions that are priced at $100 million, or even more.

An Anduril Industries Altius 600M drone is displayed at the Defence and Security Equipment International (DSEI) trade exhibition in London, Britian, September 10, 2025 (credit: REUTERS)

Washington plans for the stealth drone, which has a speed of Mach 0.95 (about 1,160 km/h), is about half the size of an F-16, and is designed to have exceptional autonomous capabilities, to become operational in the ranks of the US Air Force by 2029.

A possible entry by Norkin into Anduril’s operations in Israel may reflect Luckey’s desire to sell aerial weapons and aircraft to Israel. In terms of sales, Israel itself is a small market — even negligible compared with the huge sums that are growing elsewhere.

However, Israel’s ‘combat proven’ reputation, with military weapons proving themselves on the battlefield, and not just in laboratories or in trials, attracts any defense company that wants to improve its sales.

A country where Anduril has already opened a local branch and set up diverse strategic partnerships is South Korea. The US company came to Seoul for a joint venture with national airline Korea Air, to develop autonomous defense systems and shared aircraft.

The aircraft sector is just one of many in which Anduril operates. For the maritime sector, both on and beneath the sea, the US company has joined forces with Hyundai Shipyards to develop UAVs (unmanned aerial vehicles) and UAVs (unmanned underwater vehicles).

A subsidiary in Australia and representative office in Japan

For the growing Asia-Pacific arena, Anduril opened the Anduril Australia subsidiary in March 2022, and it is clear that the company’s headquarters in California is carefully examining other growing markets in the world.

This was illustrated last December with the opening of a representative office in Tokyo in the wake of Japan’s growing defense budget. These have already led to a huge $1.2 billion deal for the sale of the unmanned submarine “Ghost Shark”, which is produced in collaboration with the Australians.

There are even more sophisticated plans. About a year ago, Anduril entered into a tripartite agreement with Singapore and US company Shield AI, which deals with autonomous AI systems, for joint development in the world of AI. As part of the project, Singapore chose to integrate its Defense Science and Technology Agency (DSTA) and air force.

Developing a commercial aircraft for Abu Dhabi

Anduril’s Israeli branch will not be the US company’s first major foothold in the Middle East. It teamed with US company Archer, in December 2024 to develop a hybrid VTOL (vertical takeoff and landing) aircraft that will serve Abu Dhabi in commercial areas.

Anduril’s huge fundraisings — on an unprecedented scale — reflect confidence in the company’s future. The company, founded in 2017, is engaged, among other things, in the development of autonomous weapons systems, aircraft, missiles and AI systems. In May, the company broke another world record in defense tech, when it completed a $5 billion fundraising round at a valuation of $61 billion.

In Anduril’s previous fundraising round, in June 2025, the company had a valuation of just over $30 billion. The funding completed this year is the largest in defense tech in 2026. Among Anduril’s prominent investors are Josh Kushner, the brother of Jared — son-in-law and close confidant of US President Donald Trump. Josh Kushner’s Thrive Capital, together with prominent venture capital fund Andreessen Horowitz, led the recent round, which almost doubled the company’s valuation.

The company’s cofounder and CEO, Brian Schimpf, has said that Anduril doubled its revenue to $2.2 billion in 2025, almost doubled its workforce and moved more systems from the development stage to production than ever before.

This post was originally published on here

Israeli and Lebanese negotiators are discussing returning the remains of missing Israeli Air Force navigator Ron Arad in exchange for Lebanese prisoners, Lebanese media reported on Tuesday. 

The news about Arad’s possible return comes as Israel and Lebanon enter the fifth round of talks in the United States, which will be centered on creating “pilot areas” where Israeli forces would withdraw in order for the Lebanese army to prove its ability to disarm Hezbollah.

Israeli officials told The Jerusalem Post that they were unaware of this development and had no new information on Ron Arad, but that they would be pleased to hear if Lebanese officials had new intel.

Who was IAF navigator Ron Arad?

Arad was declared missing in action on October 16, 1986, when his plane crashed after malfunctioning following a strike on the Palestine Liberation Organization near Sidon, southern Lebanon. He has been presumed to be dead for several years. 

He was ejected before the crash and was held by the Amal Movement, a Shia group within Lebanon. Former Amal leader Nabih Berri, now the parliament speaker, said that his group was holding Arad hostage as “a bargaining chip” to facilitate the release of Lebanese prisoners held by Israel since the start of the 1982 Lebanon War and subsequent military occupation in southern Lebanon.

Arad’s family received letters and photographs indicating signs of life in 1987.

He was personally held captive by Amal’s security chief, Mustafa Dirani, according to the Israeli government’s website.

However, in 1988, Dirani split with Amal over “ideological differences” and formed a new Shia group, the Israeli government noted.

This nascent group held Arad for a short time before he is believed to have been handed over to the Islamic Revolutionary Guard Corps for large amounts of money, the government added.

Dirani was captured by Israel in 1994 and stated during questioning that Arad had been transferred to Hezbollah.

UN envoy Gerald Konrad told Israel that Hezbollah officials informed him Arad had died in 1988 following a failed escape attempt.

Then, Hezbollah secretary-general Hassan Nasrallah stated in 2006 that Arad was dead.

Arad was 28 years old at the time of the crash.

He held the rank of Captain at the time, and has been promoted to Lt.-Col. since.

The fighter jet’s pilot, Yishai Aviram, was also ejected and was rescued by the IDF following the crash.

This post was originally published on here

Three years into its longest and most complex war, the IDF is accelerating the deployment of unmanned ground robots across multiple fronts as battlefield threats intensify. As troops encounter more areas saturated with improvised explosive devices and explosive drones, units are requesting faster, more autonomous platforms capable of operating in dense urban terrain, under fire.

Defense & Tech by The Jerusalem Post visited an IDF base in the center of the country that works with civilian defense companies and MAFAT – the Defense Ministry’s Directorate of Defense Research and Development-to design, test, and deliver platforms at unprecedented speed.

“Every robotic system established during the war starts here,” said Maj. A, who oversees the development hub responsible for turning urgent operational needs into fielded systems. “We understand the look and feel of the system before going to the battlefield.”

Rapid development under fire

Requests from the field shift constantly as units encounter new threats. 

“Days are intense, but we need to deploy as fast as we can,” he said. “We need to save lives. Time to market is important so we are constantly thinking, developing, testing and deploying for the troops.”

When a request arrives, engineers gather to find a solution – manufacturing parts, procuring components or bringing in outside companies. They then run full safety and usability tests to ensure troops can operate the systems under pressure.

“Some work fine in a civilian environment but don’t work on the battlefield,” Maj. A said, explaining that while some defense-tech companies have been able to prove themselves, others have not been able to make the switch from fully civilian to a dual-use or defense platform.

Occasionally, units arrive with their own ideas. “One unit came to us with a problem and a solution. It doesn’t happen a lot,” he said. “They told us, ‘I know it works, now just integrate it.’”

The team also works to reduce the complexity of platforms, making them more intuitive for troops and reservists.

“We have soldiers who are 18 – they know robots,” he said. “They grew up with them, so when they meet these robots for the first time they know how to use them. Many reservists can learn how to use them too. AI and autonomy help them in complicated and complex situations to successfully carry out the mission.”

The IDF’s expanding robotic fleet

The IDF fields a growing array of unmanned platforms, many of which have been adapted repeatedly during the past three years of war-from Gaza, Lebanon and, according to some reports, even far from Israel’s borders.

The D9 Panda, a fully robotic and autonomous bulldozer, has been operational since 2022 and heavily used throughout the past three years of fighting. Defense & Tech understands that it was recently modified to allow operators to control it from tens of kilometers away, instead of the previous 3-5 km.

The Iron Beast- a modified M113 armored personnel carrier- has become one of the most requested platforms.

Before the war that broke out on October 7, thousands of these antiquated Vietnam-era platforms were set to be sold for scrap, but the military understood that the small, slow, and vulnerable platforms could be upgraded and used to perform logistical support missions for frontlines forces.

“We didn’t know what to do with them,” Maj. A said. “Now we took the garbage and made them gold.”

 IDF armored forces at a staging area in southern Israel near the border with Gaza. January 01, 2024. (credit: TOMER NEUBERG/FLASH90)

Fitted with “new accessories,” these Iron Beasts can be remotely operated by troops, and according to some reports, the IDF even used the platforms as explosive devices to destroy threats in Gaza.

One of the biggest challenges, the commander said, was the surge in demand for the Iron Beast as troops faced widespread IED threats

“Troops were out in the open,” he said. “They needed protection. Instead of sending soldiers, they are sending robotic platforms. They don’t have mothers opening doors to hear that their son was killed.”

The army has several hundred in service and thousands still waiting to be upgraded to autonomous platforms – a process that takes several weeks to complete. Yet scaling production remains a constant struggle. “We face this issue every day,” Maj. A said. “The time to market is critical.”

The Ronnie RT‑20 (MTGR), a small robot used for observation and explosive‑ordnance disposal, has been deployed widely, though several have been destroyed by hostile fire. 

A number of offensive robotic platforms produced by Roboteam are also in use by battalions, alongside systems designed to detect and destroy threats – from RF and electro‑optical sensors to improvised solutions involving soccer and fishing nets.

The IDF has also been using the “Rooster” robotic drone during the war in Gaza. Developed by the defense-tech company Robotican, it’s reportedly used by commando units and special forces for Intelligence, Surveillance and Reconnaissance (ISR) missions and tactical combat.

According to the company, Rooster is a robotic hybrid drone with a “combination of ground robot and airborne drone capabilities” that can transition between flying in the air and rolling on the ground. The platform has up to 15 minutes of flying time, 40 minutes of rolling time, and an average working time of up to 90 minutes.

These platforms join other IDF ground robots already known to be in service. Together, they form the backbone of a rapidly expanding robotic ground corps.

 “These are the necessities of our reality,” Maj. A said.

The next phase: robotic swarms and autonomous teaming

As the IDF expands its ground robotics fleet, defense officials and industry engineers are increasingly focused on multi‑robot teaming, the ability for several unmanned platforms to operate together, share data and divide tasks.

Golan Malca, VP Sales and Business Development at the Israeli defense-tech company TSG, says that the company is working closely with the IDF, MAFAT as well as the three large Israeli defense companies- IAI, Elbit and Rafael- to provide mature components and systems to support modern battlefield operations. 

“The modern battlefield contains a lot of robotic platforms,” Malca said. “We provide the brain to help complete the mission. It detects the threats and provides different priorities to different threats that the robot has to handle.”

TSG provides mature components and systems, with the main product being command and control. According to Malca, who previously worked at MAFAT as the Head of the Dual-Use Division, the company is in talks with several successful companies to provide their command and control system to be integrated into ground robotic platforms.

“The modern battlefield is leading us to use robots for different types of scenarios, and the swarm situation is the next generation that will be relevant for the modern battlefield,” he said. “There is a growing trend of using robotic platforms instead of soldiers to complete the mission and even provide Battlefield Damage Assessment (BDA) reports.

Ground robotic swarms are expected to support missions such as route clearance, tunnel detection, perimeter defense, logistics resupply and close‑range reconnaissance.

The IDF has already tested coordinated operations between small EOD robots, unmanned bulldozers and sensor‑laden platforms, allowing them to map areas, identify threats and relay information to troops before they enter.

The concept mirrors the IDF’s growing use of aerial drone swarms, but adapted for the slower, more complex terrain of urban combat. Engineers say the combination of autonomy, AI‑assisted navigation and human oversight will allow multiple robots to operate in areas too dangerous for soldiers.

Despite increasing autonomy, Maj. A emphasized that the IDF maintains strict human control. “We always have a human operator in the loop, especially when pulling the trigger,” he said.

Elbit System's Rook unmanned ground vehicle (credit: ELBIT)

Innotal Conference

In addition to the robotic platforms replacing troops on the front lines, the military is also working to improve conditions across the IDF. Last week the second Innotal Innovation Conference took place in Tel Aviv, showcasing new technologies being incorporated into the IDF to improve conditions for troops and enhance decision-making using advanced AI tools

The conference was led by the IDF’s Technology and Logistics Directorate (ATAL), the Israeli Defense Ministry’s Directorate of Defense Research and Development (MAFAT) and the Israel Innovation Institute. Senior officials from MAFAT and the IDF took part, including MAFAT head  Brig.-Gen. Dr.Danny Gold, Financial Advisor to the Chief of Staff and head of the Budget Department Brig.-Gen. Nir Weingold and others.

The Innotal program is in the midst of its second cohort of civilian projects, developed in cooperation with the IDF, quickly and able to handle the ongoing operational challenges faced by troops. Hundreds of candidates; 11 projects were chosen to move forward with the program. The projects-which handled issues in the field of medicine, robotics, energy, and others – included one that originated in Taiwan. The emphasis of this cohort was on AI development that would make the scaling of processes within the military more effective in addressing challenges in the field.

This post was originally published on here

The executive who built WhatsApp into one of the world’s most-used apps is handing over the reins. On Monday, June 22, Meta chief executive Mark Zuckerberg said in a Facebook post that Will Cathcart will step down as head of WhatsApp after about seven years, moving into a new role at the company building products “from the ground up.” Cathcart will be succeeded by Kunal Shah, the founder of Indian fintech company CRED.

Cathcart, who took over WhatsApp in 2018, wrote on the platform X that the app “is in the strongest position it’s ever been,” and that the moment felt right to step back. During his tenure, WhatsApp grew from a few hundred million users to more than 3 billion worldwide, including over 100 million in the United States. He expanded end-to-end encryption to group chats and companion devices, launched Communities, Channels and AI features, and became one of the tech industry’s most visible defenders of private messaging before regulators and lawmakers.

The leadership change came bundled with a deal. As part of Shah’s appointment, Meta is investing about $900 million in CRED through a mix of new and existing shares, taking a minority stake that Bloomberg reported at around 20%. The investment values CRED at $4.5 billion. Shah will step down as the startup’s chief executive — handing day-to-day control to Miten Sampat as interim CEO — while keeping his personal shareholding, and said Meta would have “no access to member data.”

Shah is a well-known name in Indian technology. He founded CRED in 2018 as a platform that rewards users for paying credit-card bills on time, building it to 17 million monthly active users, and earlier created FreeCharge, an online payments pioneer that Snapdeal bought in 2015 for about $400 million. He is also one of India’s most active startup investors. Zuckerberg said Shah’s “builder mentality and global perspective” suited him to run the world’s biggest messaging service.

The choice of a payments entrepreneur is a signal. Meta has spent years trying to turn WhatsApp from a free messaging app into a business, and Shah’s background points squarely at payments and commerce. India is WhatsApp’s largest market, with more than 500 million users, and a key battleground for the company’s ambitions in business messaging and digital payments — areas Meta sees as central to the app’s next phase of growth.

The timing fits a broader push to make WhatsApp pay its way. Meta bought the app in 2014 for $19 billion and has long faced questions about how it would earn money from a service famous for being free and light on ads. Last month, the company began rolling out paid subscriptions across WhatsApp, Facebook and Instagram and said it would test subscriptions for its artificial-intelligence services, moves meant to diversify revenue beyond advertising and help offset its enormous spending on AI.

Shah also inherits unfinished business. WhatsApp’s own payments effort, WhatsApp Pay, gained a foothold in India but never matched the scale of local rivals like PhonePe and Google Pay, leaving a large opening in one of the world’s biggest payments markets. Whether Shah can finally crack that — without alienating users who value WhatsApp’s simplicity and privacy — will help define his tenure.

Meta shares fell about 2.7% on Monday, caught in a broad sell-off of big technology stocks. For Cathcart, the exit is a step sideways rather than out; for Shah, it is a leap from running a single fintech to steering an app used by roughly a third of the planet. Neither has yet signaled changes to WhatsApp’s core messaging experience, but the appointment leaves little doubt about where Meta wants the app to head next: deeper into payments and business tools.

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

New Corporate-Only Leadership Program Aims to Help Businesses Deploy AI Across Communication, Workflow, Sales, Research and Operations Before They Fall Behind Competitors

EATONTOWN, N.J. — As surveys continue to show artificial intelligence boosting productivity and saving employees hours each week, the ability to effectively use AI platforms—and understand the strengths of tools like ChatGPT, Claude, Gemini, Microsoft Copilot, Grok, and Perplexity—is rapidly moving from a competitive advantage to a business necessity, much as computers and email became essential tools of the modern workplace. In response, JBiz announced the launch of the JBiz Leadership AI Operations Summit, a two-day executive training program designed to help organizations increase productivity, reduce costs, streamline operations, and drive revenue growth through AI.

The two-day summit, scheduled for July 13–14, 2026 at the Sheraton Eatontown Hotel in New Jersey, comes amid growing concern among executives that businesses failing to properly train employees on artificial intelligence risk falling behind competitors already using AI to accelerate productivity, reduce operational costs, strengthen communication, and streamline workflow.

Organizers said the summit was specifically crafted for active companies, corporations, business owners, executive teams, entrepreneurs, and organizational leadership seeking practical AI implementation strategies for existing employees and internal operations.

Companies are strongly encouraged to send multiple employees and leadership teams together in order to help empower their current workforce, strengthen internal operational capabilities, and better position their organizations for the rapidly evolving AI-driven economy.

For decades, corporations operated around a familiar workforce structure: senior leadership at the top, experienced managers beneath them, and large pools of junior employees handling research, spreadsheets, presentations, communication, scheduling, customer responses, formatting, and administrative work.

Artificial intelligence is now rapidly reshaping that model.

Increasingly, companies are discovering that a properly trained employee using multiple AI systems simultaneously can now perform work that previously required several assistants, analysts, coordinators, researchers, or support staff. Employees using platforms such as ChatGPT, Claude, Gemini, Microsoft Copilot, Grok, and Perplexity are increasingly functioning as orchestrators of multiple virtual assistants at once — drafting emails, conducting research, analyzing data, preparing reports, organizing workflow, refining proposals, summarizing meetings, and accelerating execution across departments.

Inside corporate America, executives increasingly describe AI systems as personalized virtual assistants for employees — tools that allow one trained worker to complete tasks that once required interns, assistants, analysts, or even entire support teams.

One of the clearest examples came recently from Citadel Founder and CEO Ken Griffin, who said at the Stanford Leadership Forum that modern “agentic AI” systems are now performing work inside Citadel that previously required teams of finance professionals with advanced degrees, completing in hours or days what once took weeks or months.

The economic implications are becoming increasingly difficult for employers to ignore.

A recent Oliver Wyman Forum-New York Stock Exchange CEO survey found that 43% of CEOs now plan to deprioritize hiring for junior roles while increasingly prioritizing experienced employees capable of effectively using AI systems operationally.

Research from Stanford University, MIT, and Boston Consulting Group has also found workers using generative AI complete more tasks, work significantly faster, and produce higher-quality output compared with employees not using AI systems.

Meanwhile, the McKinsey Global Institute estimates generative AI could create between $2.6 trillion and $4.4 trillion in annual global economic value across customer service, workflow management, research, operations, software development, communication, and marketing.

“We are watching one of the biggest operational shifts in modern business history,” said Duvi Honig, Founder of JBiz. “The companies adapting early are gaining enormous advantages, while many businesses still feel overwhelmed and do not know where to begin. This summit was created to provide practical implementation strategies businesses can immediately use.”

Honig said the program reflects a broader effort by JBiz to proactively help strengthen business productivity, competitiveness, workforce readiness, and long-term economic growth as artificial intelligence rapidly transforms the workplace.

“We want businesses and their employees to remain empowered, competitive, productive, and operationally prepared for the new AI era,” Honig said. “Time is not on the side of companies waiting to adapt.”

The new summit expands from the broader JBiz Expo and Leadership Summit platform, with JBiz recognized for convening executives, entrepreneurs, policymakers, innovators, investors, and business leaders around major economic, workforce, and technological trends while developing practical leadership and business training initiatives focused on real-world implementation and growth.

Organizers said the summit was intentionally designed as a lean, implementation-focused “2-Day Intensive Experience” aimed at simplifying what often takes months of fragmented online learning, consulting, and experimentation into a highly practical executive operational masterclass.

Courses are tailored specifically for real business environments and taught by industry professionals with direct operational experience using AI systems across communication, workflow, research, sales, administration, marketing, and management functions.

The summit will focus on practical deployment and operational integration of leading AI platforms including:

  • ChatGPT — communication, writing, workflow support, strategy, presentations, and operational assistance
  • Claude — long-form analysis, contracts, operational planning, and document review
  • Gemini — Google Workspace integration, productivity, collaboration, and research
  • Microsoft Copilot — Excel, Word, Outlook, PowerPoint, and enterprise workflow systems
  • Grok — live information analysis and business trend monitoring
  • Perplexity AI — real-time research, sourcing, and market intelligence
  • Meta AI, Mistral AI, and additional platforms — content creation, automation, operational support, and workflow assistance

Participants will receive hands-on instruction on how AI can be applied across:

  • Communication
  • Operations
  • Documents and worksheets
  • Research and development
  • Sales
  • Marketing
  • Reporting and presentations
  • Administration and workflow systems

According to summit materials, attendees will leave with:

  • A clearer understanding of the AI landscape and how to strategically use multiple platforms together
  • A framework for selecting the right AI tools for specific business functions
  • Ready-to-use templates and AI-powered workflows
  • Immediate strategies to save time, reduce costs, and improve operational performance
  • The ability to deploy AI as a scalable “virtual workforce” across business operations

Organizers estimate companies effectively implementing AI systems can save employees between 5–15 hours per week, generate approximately $25–$75 in productive value per hour, and potentially create between $12,000 and $54,000 in annual operational value per employee, depending on role and implementation depth.

For teams of 10 employees, summit materials estimate potential operational productivity gains ranging from roughly $120,000 to more than $540,000 annually through workflow acceleration, communication efficiency, reduced administrative burden, and operational optimization.

Estimated productivity gains, operational savings, and value creation figures may vary by company and could be higher or lower depending on industry, implementation, workforce adoption, and operational structure.

The two-day summit will feature full-day training sessions from 10:00 a.m. to 5:00 p.m. each day, led by industry professionals with hands-on experience using today’s leading AI platforms. Designed to simplify artificial intelligence for real-world business use, the program will provide practical training on ChatGPT, Claude, Gemini, Microsoft Copilot, Grok, and Perplexity, helping attendees understand the strengths of each platform, when to use them, and how to apply them effectively in the workplace. Participants will leave with the knowledge, confidence, and practical skills needed to immediately begin integrating AI into their daily responsibilities and business operations.

For corporate inquiries, team registrations, group packages, and reservations Click Here: or contact
Esther@OJChamber.com
212-659-5270 x104.

You’re reading the web edition of STAT’s Health Tech newsletter, our guide to how technology is transforming the life sciences. Sign up to get it delivered in your inbox every Tuesday and Thursday.

Good morning health tech readers!

Back in 2020, STAT named promising young researcher Pierre Elias to our annual list of Wunderkinds. Today, I published a story about his plans to commercialize the AI tool he developed to detect heart disease from EKGs.

Continue to STAT+ to read the full story…

This post was originally published here

Want to stay on top of the science and politics driving biotech today? Sign up to get our biotech newsletter in your inbox.

Good morning. As you go about your day today, may you have the confidence of Bryan Johnson and the self-awareness of Elizabeth Holmes (or whoever is behind Holmes’ X account).

Lilly granted one person extraordinary access to its next-gen drug

Eli Lilly and the FDA have allowed one person to receive the pharma company’s highly promising obesity candidate through the agency’s “compassionate use” program, my colleague Lizzy Lawrence exclusively reports.

Continue to STAT+ to read the full story…

This post was originally published here

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 day should be unwrapped like a precious gift.” To celebrate the notion, we are brewing still more cups of stimulation and invite you to join us. Remember, a prescription is not required. Our choice today is orange creme. Meanwhile, here are a few items of interest. Hope you have a smashing day and, of course, do stay in touch. …

Pfizer disclosed that an experimental lung cancer drug it hoped could replace a widely used chemotherapy fell short in a clinical trial, STAT writes. Expectations had been high that the drug, sigvotatug vedotin, could replace docetaxel, a chemotherapy initially approved in 1996. Last year, Pfizer chief executive officer Albert Bourla said on an earnings call the drug “could be a driver of growth later this decade.” The company obtained the drug when it acquired Seagen for $43 billion in 2023. But the drug did not result in a statistically significant improvement in overall survival over docetaxel.

The U.S. Food and Drug Administration announced a pilot program to speed early-stage clinical trials, which it maintained will reduce development timelines by six to 12 months, in hopes of encouraging U.S.-based trials and combating Chinese dominance in the field, STAT tells us. The pilot comes as the agency, through the president’s 2027 fiscal budget, asks Congress to establish a permanent, faster process for the existing Investigational New Drug pathway. Acting FDA Commissioner Kyle Diamantas told reporters that the FDA will issue guidance reaffirming that a single, high-quality Phase 3 trial supported by confirmatory evidence is enough to allow drug approval. 

Continue to STAT+ to read the full story…

This post was originally published here

In a major shift to capture changing consumer foot traffic, Bath & Body Works is expanding its retail footprint well beyond its own storefronts.

The legacy specialty retailer announced Tuesday a strategic partnership with Ulta Beauty to bring its products to the beauty retailer’s nationwide network. The rollout, which will reach more than 600 stores on July 12, represents the company’s “Consumer First Formula” strategy to transition from a specialty retailer into a broader global brand by leveraging third-party marketplace partners.

“What this strategic partnership reflects is an evolution in how we think about reach, meeting consumers wherever they choose to shop,” Bath & Body Works Chief Commercial Officer Maly Bernstein told Fox News Digital.

“Ulta Beauty allows us to show up in a new, highly relevant environment where consumers are already exploring beauty and fragrance,” she added. “It’s a complementary approach, giving us another touchpoint to introduce the brand to new audiences while continuing to invest in our stores and digital channels.”

ALDI LAUNCHES FREE BLIND BOX GROCERY BUNDLES AS SHOPPERS GRAPPLE WITH HIGHER FOOD COSTS

The expansion into Ulta stores means consumers no longer need to make a dedicated trip to traditional shopping malls to purchase self-care staples, including fragrances, lotions, hand soap, candles and more.

The deal also includes the exclusive return of “Juniper Breeze,” a popular legacy scent from the 1990s and 2000s, which Bath & Body Works says is intended to appeal to nostalgic consumers.

According to a company press release, Bath & Body Works said it saw “encouraging early results” from selective marketplace expansion, “reinforcing demand for the brand in new shopping environments.”

“What we’ve seen through early marketplace expansion, including our launch on Amazon earlier this year, is that consumers shop differently depending on the channel, and that behavior is incremental rather than overlapping,” Bernstein explained. “We are seeing Amazon bring in consistent growth and a younger, more affluent consumer, making it a strong customer acquisition channel that is expanding our reach.”

“The 600-plus doors were jointly selected with Ulta, prioritizing their highest-performing fleet. This is a highly curated, data-led entry designed to maximize productivity at launch and position us for future scale,” she continued.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Columbus, Ohio-based Bath & Body Works currently operates more than 1,900 stores in the United States and Canada and more than 500 international locations, according to the company. Ulta Beauty, founded in 1990, operates more than 1,500 domestic stores and is actively expanding its international presence via subsidiaries and joint ventures in the U.K., Ireland, Mexico and the Middle East.

“Our goal is to position ourselves directly in the path of the consumer and make it easier for them to find and fall in love with us, wherever they shop,” Bernstein said. “This collaboration makes Bath & Body Works easier to discover and access in the places consumers are already shopping for beauty and self-care.”

READ MORE FROM FOX BUSINESS

This post was originally published here

Want to stay on top of the science and politics driving biotech today? Sign up to get our biotech newsletter in your inbox.

Good morning. As you go about your day today, may you have the confidence of Bryan Johnson and the self-awareness of Elizabeth Holmes (or whoever is behind Holmes’ X account).

Lilly granted one person extraordinary access to its next-gen drug

Eli Lilly and the FDA have allowed one person to receive the pharma company’s highly promising obesity candidate through the agency’s “compassionate use” program, my colleague Lizzy Lawrence exclusively reports.

Continue to STAT+ to read the full story…

SERHANT. has expanded into Houston, Dallas, Austin and San Antonio with 13 founding agents and six independent brokerages that collectively closed nearly $1.5 billion in sales volume over the past 12 months, the company announced Tuesday.

The move gives SERHANT. an immediate foothold in four of Texas’s largest housing markets. The Texas launch follows the firm’s entrance into Boston and California earlier this year and brings its footprint to 17 states since it began expanding beyond New York in 2023.

Texas operations and leadership

SERHANT. Texas will be led by managing director and broker of record Susana Sarvis, who is based in Houston. A 17-year industry veteran and Houston native, Sarvis previously served as vice president of brokerage operations at Real Brokerage and has held leadership roles at Compass and John Daugherty, Realtors, one of Houston’s legacy luxury firms.

“After spending more than 17 years helping agents grow their businesses and navigate an evolving industry, I couldn’t be more excited to join SERHANT. and lead our Texas expansion,” Sarvis said in a statement. “Texas is home to some of the most dynamic luxury markets in the country, and I look forward to helping our agents elevate their businesses while delivering exceptional experiences for buyers and sellers across the state.”

Independent brokerages align with SERHANT.

Rather than acquisitions, six established Texas independents are rebranding under SERHANT., bringing their existing agents and leadership into the firm’s platform. These firms include Houston-based Truss Real Estate and CitiQuest Properties, Evoke Realty, which serves Austin, San Antonia and the Coastal Bend region, Dallas-Fort Worth-based MRA Realtors and Austin-based KF Real Estate and Steele Portfolio Real Estate.

In Houston, Truss Real Estate founder Chris Phan is joining as a founding member, bringing a 15-person team. Phan has closed nearly $260 million in career sales, including $46.7 million in the last 12 months and was named to the 2024 RealTrends Verified list as the No. 31 agent in Houston by volume and No. 6 by sides. 

Patrick Burbridge, the leader of CitiQuest Properties, will be joining SERHANT. in Houston along with 10 agents. Burbridge has spent 22 years in real estate, closing nearly $150 million in the past 12 months and more than $2 billion in career volume. The firm primarily focused on developments and new construction. 

David Garcia Jr. and Alanna D’Antonio Garcia are joining SERHANT. as founding members through the affiliation of their firm Evoke Realty. At SERHANT. they will operate as evoke group. The San Antonio-based brokerage has more than $380 million in career sales and was named one of MySA’s Best Real Estate Companies less than two years after launching in 2022, the company said in the announcement. 

In Dallas, the husband-and-wife team of Robert Alvarez Jr. and Lisa Martin are bringing MRA Realtors to SERHANT. The pair, named to the 2025 and 2026 Real Producers North Dallas Top 1000, have more than 40 years of combined experience and more than $65 million in residential and commercial sales over the past eight years, according to the release.

In Austin, SERHANT is gaining Kasey Fagan, the broker-owner of KF Real Estate and Ellen Steele, the leader of Steele Portfolio Real Estate. Her team will rebrand as The Ausperity Group at SERHANT. 

Other teams and agents joining the firm include Eric and Erika Nelson’s Nelson Co., Nicole Lopez’s Marlowe Group and Michael Bass and the Bass Client Collective in Houston; Arios and Nicole Crenshaw’s Crenshaw Residential Group and Dustin Weiss, who is a founding member of Compass’s The Weiss Group, in Austin, Matt Keeton, Michael Petersen and Petersen Real Estate Group and Aaron Shockey and his seven-person team the Aaron Shockey Group in Dallas-Fort Worth.

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

This post was originally published on here

A majority of Americans now believe that buying a home is a better option than renting or moving in with family, signaling a shift in consumer sentiment despite ongoing affordability challenges, according to Bank of America‘s latest Homebuyer Insights Report.

The survey included with the report, conducted in partnership with Bank of America Institute and released on Tuesday, found that 53% of respondents favor buying a home over renting or living with family, marking the first time since 2023 that a majority has expressed that view.

The report also found growing confidence in the value of homeownership. About 90% of respondents said a home is a valuable investment, up from 79% a year earlier, while 94% said homeownership provides stability, compared with 83% in 2025. Additionally, 32% said they are more confident in their ability to purchase a home this year, up from 27% last year.

‘Increasingly optimistic’ consumers

“We are seeing meaningful changes in attitudes toward homeownership,” Matt Vernon, head of consumer lending at Bank of America, said in a statement. “Despite real and persistent challenges in the market, buyers and owners are increasingly optimistic, and many are starting to move forward rather than waiting on the sidelines.”

In an interview with HousingWire, Vernon reiterated that the market has reached a point where consumers are accepting current rates as the “new normal.”

“The duration of the interest rate environment that we’re in today is now becoming a new normal, so versus the shock of movement from post-pandemic to the levels [near] 7%, now we’re consistently in this area, so this is a new normal from a market perspective,” Vernon said.

“I think that is causing that clear inflection point in sentiment, where most Americans — or more Americans now — are thinking of homeownership as the preferred long-term choice.”

Affordability remains the biggest hurdle for prospective buyers. The survey found that 58% cited high home prices as a barrier to homeownership, up from 46% in 2025, while 47% pointed to elevated mortgage rates, compared with 40% a year ago.

Even so, more consumers appear willing to enter the market. Seventy-one percent of prospective buyers said they are waiting for home prices and interest rates to decline before purchasing, down from 75% in 2025. The shift was most pronounced among younger buyers, with the share falling to 68% among Gen Z respondents (down from 74% a year earlier) and to 70% among millennials (down from 77%)

Among current homeowners, 52% said they expect to purchase another home, either as a primary residence or an additional property. And more homeowners are accelerating their plans, with 22% expecting to buy within the next year, up from 15% in 2025.

Lock-in effect easing?

The survey suggests that the”lock-in effect” created by low-rate mortgages may be easing. More prospective buyers said they would be willing to move and accept a higher mortgage rate if it meant purchasing a home in a more affordable area, securing their dream home or moving to a better location.

“Clearly, affordability is still the constraint in the market, but we’re also seeing homeowners make trade-offs to challenge that issue, whether that’s looking at managing costs, smaller living places, fewer amenities or looking at markets that may be cheaper than they initially were looking into,” Vernon said.

Technology is also playing a larger role in the homebuying process, with 20% of prospective buyers and homeowners reporting that they used artificial intelligence tools or chatbots during the past year to research housing-related topics. Usage was higher among younger consumers, reaching 32% among Gen Z respondents and 28% among millennials.

Among those who used AI, the most common applications included affordability, mortgage payment and closing cost estimates, learning about the homebuying process, and researching neighborhoods, market trends and property values.

Despite growing interest in AI, consumers still prefer human guidance for major decisions. Respondents said they would rather rely on professionals for tasks such as touring homes and obtaining legal or contractual advice.

Gen Z ‘social pressures’

The survey also highlighted the challenges facing younger buyers. Nearly one-third of Gen Z respondents said they are considering purchasing a home with friends or family members, while 28% reported taking on additional jobs to improve affordability. Another 31% said they plan to use homebuyer assistance programs to help fund a purchase.

Vernon said that while Gen Zers have an advantage of being digitally savvy, they are facing “social pressures” to buy a home.

“Those newer, social media native younger generations are seeing their friends, they are seeing their neighbors, they are seeing folks that they connect with either achieve the dream of homeownership or talk about aspiring to get there, and they’re feeling a general pressure if they are in the same age — and, ultimately, situation in life ‚ where their friends, their neighbors, etc., are buying and they are not,” he said.

The findings are based on an online survey conducted by Sparks Research between April 13 and May 10, 2026. The survey included 2,000 adults, evenly split between homeowners and renters, who either currently own a home, previously owned one or plan to become homeowners in the future.

This post was originally published on here

President Donald Trump on Friday unveiled the converted Boeing 747-8 that will serve as the next presidential aircraft, pulling back the curtain on a luxury jumbo jet handed to the United States by the government of Qatar. The U.S. Air Force, in a release the same day, said the aircraft — known internally as the VC-25B Bridge — is now a secure, modified executive platform. Standing before the aircraft at Joint Base Andrews in Maryland, Trump called it one of the most advanced and luxurious aircraft ever built.

The jet is a 13-year-old Boeing 747-8 that was previously flown by the Qatari royal family and has been valued at roughly $400 million. Qatar transferred the aircraft to the United States in 2025, a move Trump has defended as a cost-saving measure while critics in both parties have questioned the security, ethics, and optics of accepting such a gift from a foreign government. After formally accepting the aircraft, the Air Force spent the past year overseeing modifications to prepare it for presidential use.

The reason the administration sought a bridge aircraft comes down largely to one company: Boeing.

In 2018, Boeing received a $3.9 billion contract to build two brand-new VC-25B presidential aircraft that would replace the aging Air Force One fleet. The planes were originally scheduled to enter service in 2024. They are now expected no earlier than 2028, making the program one of the most visible examples of delays in a major government procurement effort.

The delays have not only embarrassed Boeing but have also been costly. Because the company agreed to a fixed-price contract, Boeing has absorbed the overruns itself, recording more than $2.4 billion in charges against earnings tied to the Air Force One program. The company has repeatedly restructured management of the project and brought in new leadership in an effort to accelerate delivery and regain confidence.

Faced with the prospect of waiting years longer for the new presidential aircraft, the administration turned to the Qatari 747 as an interim solution.

The government selected L3Harris Technologies to perform extensive modifications on the aircraft. According to officials, the work included secure encrypted communications systems, defensive countermeasures, weather hardening, and additional classified upgrades required for presidential travel. The aircraft now operates as a bridge platform while the long-delayed Boeing aircraft remain under development.

The retrofit itself became a subject of controversy on Capitol Hill.

Air Force Secretary Troy Meink told lawmakers that the cost of modifying the aircraft would likely remain below $400 million, pushing back against estimates that exceeded $1 billion. Critics, however, argued that once all classified communications and defensive systems are included, the final cost could be substantially higher. Congressional scrutiny intensified after reports that nearly $934 million was shifted from a classified missile-defense program to help accelerate the aircraft’s conversion timeline.

Inside, much of the aircraft’s original luxury configuration remains intact.

Rather than completely gutting and rebuilding the interior, officials preserved large portions of the existing layout, including executive suites, meeting areas, wood-paneled finishes, and luxury accommodations. Supporters of the approach argue that retaining much of the interior dramatically reduced costs and shortened the timeline compared with building a new presidential aircraft from scratch.

The exterior, however, received a dramatic makeover. Trump abandoned the traditional Kennedy-era light-blue design and replaced it with a darker navy underbelly, a bold red stripe, a large American flag on the tail, and the presidential seal near the main boarding door. Trump has previously said he personally favored the updated color scheme and viewed it as a more modern representation of American strength.

The aircraft is expected to make several high-profile appearances in the months ahead. Trump said it will participate in upcoming national celebrations and that future presidential travel will increasingly shift to the new bridge aircraft. The existing VC-25A fleet, which has served presidents for decades, will remain in operation alongside the modified Qatari jet until Boeing’s replacement aircraft are finally delivered.

Yet beyond the ceremony and politics, the unveiling underscored a larger story about American manufacturing and aerospace leadership.

For decades, Boeing was regarded as the gold standard of American engineering. Its commercial aircraft and defense programs symbolized the country’s industrial strength and technological leadership. Today, however, Boeing faces mounting questions over delays, cost overruns, quality-control concerns, and execution challenges across multiple programs.

The Air Force One replacement effort may be the most visible example. This was not merely another government contract. It was one of the most prestigious aviation projects in the world, intended to produce the flying White House for future presidents. Instead, the delays became so significant that the administration sought a foreign-owned aircraft to fill the gap.

Whether one supports or opposes the acceptance of the Qatari jet, the reality remains difficult for Boeing to ignore. The President of the United States is preparing to fly aboard a converted aircraft that once belonged to a foreign monarchy because the aircraft Boeing was contracted to build is still years away from completion.

For Boeing, the unveiling is more than a ceremonial moment. It is a public reminder of how far behind one of its most important government programs has fallen. The real story is not simply that Qatar provided an aircraft. The real story is that Boeing left a void that someone else had to fill.

Until the company delivers the long-promised VC-25B fleet, every appearance of the converted Qatari aircraft will serve as a visible reminder of the challenges facing one of America’s most iconic manufacturers.

JBizNews Desk | Washington

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

For decades, the biggest and most profitable companies in America followed a predictable formula. They generated enormous amounts of cash, invested what they needed to grow, and then returned the rest to shareholders through stock buybacks and dividends. That formula is now being rewritten as the race to dominate artificial intelligence consumes hundreds of billions of dollars.

According to new analysis from PIMCO, the world’s largest cloud and technology companies are now directing roughly 94% of their operating cash flow into capital expenditures, primarily data centers, advanced chips, networking equipment, and the power infrastructure needed to run AI systems. Just two years ago, that figure was closer to 40%.

The shift represents one of the most dramatic changes in corporate capital allocation seen in decades. Cash that once flowed back to investors is increasingly being poured into physical infrastructure designed to support the next generation of artificial intelligence.

The companies themselves are making no secret of the change. Meta Chief Financial Officer Susan Li recently told investors that the company’s “highest order priority” is investing in AI leadership. In practical terms, that means data centers, computing power, and AI models now take precedence over stock repurchases.

Microsoft, which spent years generating massive free cash flow while rewarding shareholders through buybacks and dividends, is making a similar transition. The company continues returning capital to investors, but the scale of AI spending is increasingly dominating financial decisions.

The numbers behind the buildout are staggering. Research from Allianz Trade projects that capital expenditures among major U.S. technology companies will rise roughly 50% in 2026, exceeding $600 billion. Capital spending as a percentage of revenue is expected to reach approximately 23%, more than double levels seen before the arrival of ChatGPT and the generative AI boom.

Across the dominant cloud providers and AI developers, annual infrastructure spending is now approaching $700 billion. Much of that money is being spent on massive data centers filled with advanced processors from companies such as Nvidia, along with the transmission lines, cooling systems, and electrical infrastructure required to operate them.

The spending surge is beginning to affect the financial profiles of companies once considered nearly untouchable cash machines. Barclays estimates that Microsoft’s free cash flow could decline approximately 28% this year before recovering in 2027. Analysts at Evercore ISI have warned that aggregate free cash flow across the sector has fallen below levels seen during the technology slowdown of 2022 and is approaching territory where portions of the industry could temporarily spend more cash than they generate.

Rather than slow construction, many firms are turning to the debt markets. The five largest AI infrastructure investors collectively raised more than $121 billion in new debt during 2025, with much of that borrowing occurring late in the year. Wall Street analysts expect approximately $300 billion more in AI-related bond issuance during 2026.

Some forecasts go even further. Analysts at JPMorgan and Morgan Stanley estimate that the technology sector could require as much as $1.5 trillion in debt financing over the coming years to support planned AI investments. Many of the bonds being issued carry maturities of 15 to 30 years, reflecting management’s belief that data centers are long-term assets capable of generating returns for decades.

The trend is beginning to reshape the broader market. Stock buybacks across the S&P 500 remain near record levels and are still expected to exceed $1 trillion this year. However, those repurchases are becoming increasingly concentrated among a handful of companies that remain wealthy enough to fund both massive AI investments and shareholder returns simultaneously.

For much of corporate America, the equation is changing. Utilities, telecommunications providers, and technology firms are increasingly directing cash toward infrastructure rather than repurchases. Rising electricity demand from AI facilities alone is forcing many utility companies to prioritize investment over shareholder distributions.

Investors are watching carefully because the payoff remains uncertain. The costs are immediate and measurable. The profits from the AI buildout remain largely speculative.

Technology executives argue that the spending creates a competitive moat that smaller rivals cannot easily cross. Companies that secure the most computing power, the most advanced chips, and the largest data center networks may establish advantages that last for years.

Yet the ultimate success of the strategy may depend on something surprisingly old-fashioned: electricity. Data centers require enormous amounts of power, and industry leaders increasingly acknowledge that access to energy infrastructure could become the biggest bottleneck in the AI race.

The months ahead will reveal whether the industry’s massive wager begins generating returns or whether companies must continue borrowing and spending long before profits catch up. What is already clear is that one of Wall Street’s oldest assumptions—that mature technology giants will simply return excess cash to shareholders—is being replaced by a far more capital-intensive model.

The era of stock buybacks as the primary destination for Big Tech’s cash is giving way to an era of data centers, power plants, and AI infrastructure. Whether investors ultimately benefit will depend on whether the billions being poured into concrete, servers, and electricity produce the next great wave of technological growth.

JBizNews Desk
Wall Street

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

MinneapolisTarget will launch its biggest summer savings event on Tuesday, June 23, weeks earlier than its usual July timing, the retailer announced in a June 2 release, as families look for ways to stretch budgets ahead of the school year. The four-day Target Circle Deal Days run through Friday, June 26.

The pitch is straightforward: members of Target’s free Circle loyalty program get up to 45% off thousands of items across apparel, beauty, home, toys, and essentials. Back-to-school and college supplies — JanSport backpacks, Casaluna and Threshold bedding, and writing tools from BIC, Expo, Paper Mate, and Sharpie — are 40% off. Paid Circle 360 members get early access starting June 22.

“Busy families are looking for ways to save money as they balance summer plans with back-to-school and college prep,” said Sarah Travis, executive vice president and chief digital and revenue officer at Target. She said the company wanted to meet that need without giving up the style shoppers expect.

The timing is the real story. Retailers have been pulling back-to-school promotions earlier each year, and Target moving its event into June — before summer has officially hit its stride — is a sign of how hard stores are competing for cautious shoppers. Many parents now spread purchases across several months and time them to sales rather than buying everything in one August trip.

The savings stretch beyond pencils and notebooks. During the event, shoppers can expect up to 45% off select kitchen items from Cuisinart, Keurig, and Ninja, up to 45% off floorcare from Bissell and Hoover, and 40% off select women’s clothing from A New Day and Universal Thread. New one-day deals drop each morning, including 40% or more off items from Crocs, Igloo, and Sun Bum.

There are perks designed to pull people into stores. On June 23, Circle members can get a free hot or iced brewed coffee or a Bullseye cookie at the Starbucks counters inside more than 1,800 Target locations, redeemed by scanning a barcode in the Target app. Verified military members, veterans, and their families who are Circle members get 20% off one qualifying purchase from June 21 through July 4. New members who join between June 14 and 22 get 15% off their first purchase.

For shoppers weighing the paid tier, Target is discounting a Circle 360 annual membership to $49 for the first year, down from $99, during the event. College students and teachers can get the membership for the same price year-round, and the plan includes free fast shipping and same-day delivery.

The early sale comes as households keep a close eye on prices. Many shoppers remain wary of inflation and the possibility that tariffs could push some costs higher, and they are leaning on discount events, store brands, and reused supplies to keep spending in check. For retailers, stretching the back-to-school season from June into the traditional late-summer peak helps spread out store traffic and manage inventory.

The move also lands as Target works to steady its business. The company reported first-quarter net sales of $25.4 billion, up nearly 7% from a year earlier, and raised its guidance, though its stock has been choppy. Aggressive loyalty promotions like Circle Deal Days are part of how the chain is trying to keep families coming back.

For parents, the practical takeaway is simple: the deals on backpacks, laptops, dorm bedding, and uniforms are arriving early this year, and the best prices tend to move fast. Comparing prices across stores and focusing on the promotional windows remains the surest way to keep the back-to-school bill down.

What used to be an August scramble now starts in June. For budget-conscious families, that means more time to spread out the cost — and more reason to watch the calendar.

JBizNews Desk | New York

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

Americans’ preference for the sport utility vehicle has reached a new high, with SUVs and their crossover cousins now accounting for close to two-thirds of all new vehicles registered in the United States, according to a recent report on vehicle registration data.

When pickup trucks are counted alongside them, these taller, roomier vehicles make up more than two-thirds of all new registrations, a record share, according to data from S&P Global Mobility.

The plain car, the sedan that once ruled American driveways, has been pushed firmly into second place.

The report also showed how the SUV market itself is splitting.

Gas and diesel models outsold electric and hybrid SUVs by nearly three to one, accounting for about 72.3% of new SUV registrations.

Despite years of pressure to go electric, the typical SUV buyer is still choosing a gas engine, drawn by lower sticker prices, longer range and the convenience of filling up rather than hunting for a charger.

Why do Americans keep choosing SUVs?

The appeal is practical.

They offer more cargo room, a higher seating position that many drivers find reassuring, room for car seats and gear, and a sense of safety that comes from sheer size.

That loyalty runs deep: surveys show roughly two-thirds of current SUV owners plan to buy another one, a level of devotion no other vehicle type comes close to matching.

The trend has reshaped the auto industry.

Carmakers have spent years reorganizing their lineups around utility vehicles, and some have abandoned sedans almost entirely; several mainstream brands no longer sell a single traditional car.

Models like the Ford F-Series, the Toyota RAV4, and the Tesla Model Y sit atop the sales charts, and automakers have poured their engineering and marketing dollars into the formats buyers clearly want.

That shift carries real consequences.

More and bigger SUVs on the road means more fuel burned and more emissions, complicating efforts to clean up the nation’s vehicle fleet.

It also means higher prices, since utility vehicles generally cost more than the sedans they replaced, adding to the strain on buyers already facing near-record new-car prices.

And it changes the streetscape, as vehicles keep getting larger and harder to park.

There are early hints of a backlash.

A growing share of Americans say SUVs and trucks have simply gotten too big, and even some truck owners agree.

Surveys of teenagers, the buyers of tomorrow, suggest many imagine themselves in sedans rather than the crossovers they grew up riding in, a familiar generational pattern of wanting the opposite of what filled the family driveway.

Whether that translates into actual purchases years from now remains to be seen.

For now, though, the numbers tell a clear story about what Americans are actually driving.

The SUV is no longer one option among many; it has become the default.

From the family hauler to the daily commuter, the high-riding, gas-powered utility vehicle has won the American road, and the industry has rebuilt itself around that reality.

Detroit — JBizNews Desk

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

A new technique to identify ancient fires has pushed the known timeline of early human fire use and interaction back to about 1.8 million years ago, according to a new study.

The study builds on the previous discovery, published in a 2012 study in the scientific journal PNAS, which revealed traces of early humans using fire at Wonderwerk Cave in the Kalahari Desert of South Africa as early as one million years ago.

Here, however, researchers using a new method of identifying traces of ancient fires based on the light-emitting properties of burned bone succeeded in pushing back the timeline to 1.07 and 1.79 million years ago.

Researchers explained that when bones exposed to high heat are illuminated with specific wavelengths of light, they light up with a distinctive glow.

Combining this technique with certain chemical analyses, researchers were able to identify burned animal bones with a “high degree of confidence.”

“Evidence of fire from such ancient sites is often subtle and difficult to detect,” explained Prof. Kolska Horwitz of the Hebrew University of Jerusalem. “Our study provides new tools for identifying traces of ancient burning and reveals that fire was repeatedly present deep inside Wonderwerk Cave.”

The new method is groundbreaking for several reasons: it is non-invasive, portable, and can be used on large collections of fossils without causing damage.

Studying fossilized bones left behind by owls

Using this method, researchers analyzed traces of burning on hundreds of tiny, fossilized bones left behind by owls that had once roosted in the cave. 

“Because these remains accumulated naturally on the cave floor,” the study noted, “they provide an independent, non-anthropogenic record of ancient events.”

From the bones, the researchers have discovered clear evidence of fire in an archaeological layer where artifacts believed to be associated with Homo erectus have previously been found.

The location of the remains is also significant. Found approximately 30 meters inside the cave, hidden away from the reach of wildfires and lacking guano remains, indicating that naturally occurring fires – likely those sparked by lightning or wildfires – may have been brought inside to be used until they died out.

Further, the study suggested that the early humans may have used owl pellets as fuel, resulting in the hundreds of tiny burnt rodent bones that researchers studied.

“Nevertheless, bringing fire into a cave and maintaining it represents a significant behavioral achievement,” the study affirmed.

“These discoveries show that early humans were not simply passive observers of natural fires,” Horwitz explained. “They were actively engaging with fire and incorporating it into their lives.”

The study, titled “New evidence for Early Pleistocene use of fire at Wonderwerk Cave (South Africa),” was published in the journal PLOS One in June 2026 by an international team made up of Hebrew University of Jerusalem researchers, as well as those from Spain, Argentina, Canada, USA, South Africa, Portugal, and Israel. 

This post was originally published on here

AtlantaCoca-Cola is heading into one of the largest corporate tax disputes in American history as it prepares to argue its case before the U.S. Court of Appeals for the Eleventh Circuit in a battle with the Internal Revenue Service that could ultimately cost the beverage giant as much as $20 billion.

Oral arguments are scheduled for June 25 in Miami, marking the latest chapter in a legal fight that has stretched for more than a decade and could have far-reaching consequences for multinational corporations across the United States.

At the center of the dispute is a complicated but enormously important question: how much profit Coca-Cola should have reported in the United States versus overseas.

The IRS argues that Coca-Cola improperly shifted billions of dollars in profits to foreign affiliates in lower-tax jurisdictions, reducing the amount of income subject to U.S. taxes. The company maintains it followed a long-standing transfer-pricing method that the government had previously accepted.

Transfer pricing refers to the way multinational companies allocate profits among their various subsidiaries around the world. Because tax rates differ from country to country, the issue has become one of the most closely watched areas of corporate taxation.

The sums involved in Coca-Cola’s case are extraordinary.

The company has already deposited approximately $6 billion with the IRS while the litigation proceeds. According to company disclosures, an unfavorable outcome could require it to pay as much as $14 billion more, bringing the total potential cost close to $20 billion.

Few corporate tax disputes have ever reached that magnitude.

The conflict dates back to audits covering 2007 through 2009, when the IRS concluded that Coca-Cola’s foreign licensing arrangements understated U.S. taxable income. The agency subsequently issued adjustments exceeding $9 billion, generating a tax deficiency of roughly $3.3 billion for those years alone.

The legal battle intensified in 2020, when the U.S. Tax Court largely sided with the IRS. In 2024, the court entered a final decision requiring Coca-Cola to pay approximately $2.7 billion related to the years under dispute.

The company immediately appealed.

Coca-Cola argues that the government changed the rules after the fact.

For years, the company and the IRS relied on a transfer-pricing formula commonly referred to as the “10-50-50” method to determine how profits from foreign operations should be allocated. Coca-Cola contends that federal tax authorities effectively approved that methodology and allowed the company to rely upon it.

The IRS later abandoned that approach and adopted a different calculation method that dramatically increased the amount of profit allocated to the United States.

In court filings, Coca-Cola has characterized the government’s actions as a “bait and switch,” arguing that businesses cannot reasonably plan their operations if tax authorities are allowed to retroactively replace accepted methodologies years later.

The government sees the issue differently.

IRS attorneys argue that the company significantly understated U.S. income and that federal law gives the agency authority to adjust transfer-pricing arrangements when they do not reflect economic reality.

The outcome could extend well beyond Coca-Cola.

Tax attorneys, accountants, and multinational corporations are closely watching the case because it may influence how aggressively the IRS pursues similar disputes in the future. A victory for the government could encourage additional challenges involving major corporations with extensive international operations.

A victory for Coca-Cola could limit the agency’s flexibility and strengthen taxpayer arguments in future transfer-pricing cases.

The broader business community has already taken notice.

Several major accounting firms, corporate trade associations, and business groups have filed briefs supporting Coca-Cola’s position. Many argue that predictability and consistency are essential when companies structure global operations and make long-term investment decisions.

The case also arrives at a moment of significant change in administrative law.

Legal experts note that recent Supreme Court decisions have reduced the level of deference courts traditionally give federal agencies when interpreting regulations. Some observers believe those rulings could affect how appellate judges evaluate the IRS’s position.

Investors are paying close attention as well.

While Coca-Cola remains one of the world’s largest and most financially stable consumer products companies, a multibillion-dollar tax liability would still represent a significant financial event. Analysts continue to monitor the company’s disclosures regarding reserves, potential exposure, and litigation strategy.

The dispute also highlights the increasingly global nature of modern business.

Large corporations often operate through dozens or even hundreds of subsidiaries spread across multiple countries. Determining where profits should be taxed has become one of the most contentious issues in international finance and government revenue collection.

For policymakers, the case represents a test of how aggressively tax authorities can challenge multinational corporate structures.

For businesses, it raises questions about certainty, compliance, and the risks of relying on long-standing tax arrangements.

And for Coca-Cola, it could determine whether one of the most recognizable brands in the world owes billions more to the federal government.

A decision is not expected immediately after oral arguments. However, whatever the Eleventh Circuit ultimately decides is likely to influence corporate tax planning, IRS enforcement efforts, and international tax disputes for years to come.

The result may also determine whether one of the largest tax cases in U.S. corporate history eventually reaches the Supreme Court.

JBizNews Desk | New York

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

The Islamic Republic has received a license to produce, deliver, and sell crude oil for the next 60 days, the US Treasury Department announced on Monday.

The authorization will allow the United States to import Iranian crude oil and petroleum products until August 21, 2026, though transactions involving North Korea, Cuba, and Russian-occupied Ukraine remain subject to sanctions.

“In line with the ongoing productive talks in Switzerland, Iran has committed to free and open transit in the Strait of Hormuz and to permit International Atomic Energy Agency (IAEA) inspectors into their country,” Treasury Secretary Scott Bessent announced on X. “As part of the framework, Treasury has issued a temporary 60-day general license authorizing the production, delivery, and sale of Iranian oil.”

The impact was almost immediate in the global market as oil prices fell dramatically on Tuesday. Brent crude futures were down 44 cents, or 0.6%, to $77.46 a barrel and US West Texas Intermediate was down 30 cents, or 0.4%, to $73.56 a barrel at 0813 GMT.

On Monday, government data showed US crude stocks in the Strategic Petroleum Reserve fell to 331.2 million barrels last week, the lowest since June 1983, as supplies tightened as a result of the Strait of Hormuz’s three-month-long closure.

1.5 million barrels of oil daily before Hormuz closure

The Islamic Republic was able to export more than 1.5 million barrels of oil daily before the closure of the Hormuz, which declined to 209,000- 260,000 after the blockade. The maritime intelligence firm TankerTrackers first reported that Iran has exported approximately 36 million barrels of crude oil since June 15.

On Friday, the firm said the Islamic Republic had exported $1.44 billion in crude oil that week alone.

Shahar Golomb, a lecturer in economics and finance from Afeka Academic College of Engineering, told The Jerusalem Post that it was too early to assess the full implications of the two-month reprieve, but asserted that “there is a real risk that the Iranian regime will use part of these funds to rebuild or strengthen its military and regional capabilities.”

“The US administration appears to have made a cold cost-benefit calculation: allowing a temporary reprieve may be less costly than prolonging a conflict that could destabilize energy markets, push oil prices sharply higher, and create broader risks for the global economy,” he commented. “In other words, this is not necessarily a vote of confidence in Iran, but rather a pragmatic attempt to reduce the immediate economic and geopolitical damage.”

Reuters contributed to this report.

This post was originally published on here

The trust fund that pays America’s retirement benefits is now closer to running dry than at any point since the early 1980s, according to the 2026 Social Security Trustees Report released on June 9.

The trustees project that the Old-Age and Survivors Insurance (OASI) Trust Fund — which pays retirement and survivor benefits — will be depleted during the fourth quarter of 2032, three months earlier than projected a year ago. The shift marks the second acceleration in less than two years and places the program in its most vulnerable position since Congress enacted major reforms in 1983.

The word “depleted” does not mean Social Security would disappear or stop sending checks. Even after trust fund reserves are exhausted, payroll taxes would continue flowing into the system. Those revenues would still be sufficient to cover approximately 78% of scheduled benefits, but absent congressional action, beneficiaries would face an automatic reduction of roughly 22%.

A major factor behind the worsening outlook is the One Big Beautiful Bill Act, enacted in 2025. The trustees said provisions reducing taxes paid by seniors on their Social Security benefits lowered revenue flowing back into the trust fund. While retirees received tax relief, the measure also weakened a funding source that helps support future benefits. The report also cited slower population growth and reduced immigration as contributing factors.

The potential impact on retirees is significant. The nonpartisan Committee for a Responsible Federal Budget (CRFB) estimates that a 22% reduction would cut the average retiree’s monthly benefit by approximately $500. According to the organization, a typical couple retiring in 2033 could lose roughly $18,400 annually if lawmakers fail to act.

The financial pressure has been building for years. Social Security is funded primarily through a 12.4% payroll tax applied to wages up to $184,500 in 2026. However, the share of national wages subject to the tax has declined as income growth among top earners has outpaced increases in the taxable wage cap. Trustees noted that payroll tax income has fallen short of benefit payments every year since 2009, steadily reducing reserves.

The average retired worker currently receives about $2,071 per month, reflecting the 2.8% cost-of-living adjustment that took effect this year. Over the next 75 years, trustees estimate the program faces a financing shortfall measured in the tens of trillions of dollars.

Not all parts of Social Security face the same challenge. The separate Disability Insurance Trust Fund remains financially stable and is projected to pay full benefits through at least the end of the century. Combined, the retirement and disability trust funds would remain solvent until 2034, at which point incoming revenue would cover about 83% of scheduled benefits.

The comparison to 1983 is especially noteworthy. That year, lawmakers reached a bipartisan agreement that raised the retirement age and made tax changes only after the program neared crisis. While many analysts expect Congress to eventually intervene again, trustees urged lawmakers not to wait until the final hour.

The report’s message is clear: the longer Congress delays, the more difficult and disruptive any solution becomes. Whether lawmakers choose to raise taxes, increase the wage cap, adjust benefits, or pursue a combination of reforms, the trustees warned that the opportunity for gradual changes is narrowing rapidly.

JBizNews Desk
Washington, D.C.

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

A widely discussed forecast warning that artificial intelligence could trigger mass unemployment and a market crash is drawing fresh criticism from economists who argue the scenario dramatically overstates the risks facing the labor market.

Julius Probst, senior economist and director of research at Recruitonomics, the research arm of hiring-data firm Appcast, said Monday that predictions of AI-driven unemployment reaching double digits are “extremely unrealistic,” pointing to current labor-market data that continues to show job growth rather than collapse.

The forecast Probst is challenging originated with Citrini Research, an independent research firm founded by James van Geelen. In February, the firm published a widely circulated report framed as a fictional memo from June 2028 describing a future in which AI-powered software agents had replaced large numbers of skilled office workers.

In that scenario, corporate profits surge as automation spreads across industries, but unemployment climbs to 10.2%, the S&P 500 plunges 38%, and rising mortgage defaults among displaced white-collar workers create broader economic instability.

Although Citrini explicitly described the report as a scenario rather than a formal prediction, the analysis quickly gained attention across Wall Street and technology circles. Investors began reassessing which industries could be most vulnerable to AI-driven disruption, contributing to increased volatility in several technology-related stocks.

The report also sparked immediate pushback.

Market participants, including analysts at Citadel Securities, argued that the scenario relied on assumptions that failed to account for how businesses, consumers and policymakers typically respond during periods of economic stress.

Probst shares that skepticism.

His central argument is that unemployment does not simply rise to 10% and remain there without triggering broader responses throughout the economy. A labor-market shock of that magnitude would likely cause consumer spending to weaken, financial markets to decline and economic growth to slow sharply.

Under such circumstances, policymakers would almost certainly intervene.

Historically, major economic downturns have prompted aggressive responses from both the Federal Reserve and the federal government, including interest-rate cuts, emergency lending programs and fiscal stimulus measures designed to stabilize employment and economic activity.

“The scenario assumes policymakers essentially stand by while the economy deteriorates,” Probst argued. “That is not how modern economic crises have been managed.”

Current labor-market conditions also present a challenge to the most pessimistic forecasts.

The latest employment data showed U.S. employers adding 172,000 jobs in May, while the unemployment rate remained at 4.3%. The figures exceeded many economists’ expectations and suggest that hiring remains resilient despite economic uncertainty and elevated interest rates.

Rather than seeing broad-based labor-market destruction, Probst argues that the economy is undergoing a shift in which different skills are becoming more valuable.

He points to the massive wave of investment flowing into AI infrastructure. Technology companies are expected to spend hundreds of billions of dollars building data centers, power facilities and supporting infrastructure across the United States.

Much of that construction is taking place in states such as Texas and Arizona, where demand for skilled trades workers continues to rise.

Electricians, welders, construction crews and other infrastructure-related workers are benefiting from labor shortages that are driving wages higher. At the same time, some traditional white-collar occupations are seeing slower wage growth and weaker hiring demand.

Probst describes the trend as a partial reversal of long-standing labor-market dynamics.

For decades, office-based knowledge work generally commanded higher compensation than many skilled trades. The rapid expansion of AI infrastructure is beginning to narrow that gap in some parts of the economy.

That distinction is important because it highlights a difference between labor-market disruption and labor-market destruction.

Artificial intelligence is clearly changing how companies hire and organize work. Some routine office functions are being automated, and employers in certain sectors have become more cautious about adding headcount. Yet those same technological investments are creating demand elsewhere in the economy.

The result, according to Probst, is not a disappearing labor market but a changing one.

Even many AI skeptics acknowledge that legitimate concerns remain. The speed at which AI systems improve could reshape hiring patterns, alter career paths and force workers to adapt to new demands more quickly than in previous technological transitions.

Those uncertainties help explain why reports such as Citrini’s attract attention.

The fear is not simply that jobs disappear, but that automation advances faster than businesses and workers can adjust. Whether the economy creates enough new opportunities to offset displaced positions remains one of the central questions surrounding artificial intelligence.

For now, however, Probst argues that current evidence does not support predictions of imminent labor-market collapse.

The U.S. economy continues to create jobs, businesses continue to invest, and unemployment remains well below recessionary levels. Artificial intelligence may be changing the labor market, but according to Probst, that is a very different outcome from the economic catastrophe envisioned in the viral 2028 scenario.

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

The largest pension fund in the United States is about to change how it invests roughly $600 billion. Starting July 1, 2026, the California Public Employees’ Retirement System (CalPERS) will run its money under a new model called the Total Portfolio Approach, a shift its board approved on November 17, 2025, and one that Chief Investment Officer Stephen Gilmore has spent more than a year championing. CalPERS says it is the first public pension fund in the country to make the move.

The change matters far beyond Sacramento. CalPERS pays retirement benefits for millions of California public workers, including teachers, firefighters, police officers and government employees. Its investment performance helps determine how much taxpayers and local governments must contribute to fund those pensions. Stronger returns can ease pressure on public budgets, while weaker performance can increase future funding obligations.

For years, CalPERS relied on a traditional investment framework known as strategic asset allocation. Under that system, the board established target allocations for stocks, bonds, private equity, real estate and other asset classes, and investment teams generally stayed within those predetermined buckets.

The Total Portfolio Approach breaks down those barriers.

Instead of focusing on whether individual asset classes meet target allocations, investment teams will evaluate opportunities based on how much they improve the entire portfolio. Managers will compete for capital across all investment categories, with funds directed toward opportunities believed to offer the best overall risk-adjusted returns.

To measure success, CalPERS will use a reference portfolio consisting of 75% equities and 25% fixed income investments. That benchmark is slightly more aggressive than the fund’s previous allocation structure and is designed to create room for investments that may generate higher long-term returns.

Investment staff will have flexibility to deviate from the benchmark but must remain within an overall risk budget of 400 basis points, or 4 percentage points. The board plans to review that risk limit every four years as part of its regular planning process.

Gilmore estimates the strategy could add approximately 50 to 60 basis points annually to investment performance. While that may sound modest, even half a percentage point of additional return can translate into billions of dollars over time for a fund of CalPERS’ size.

He has described the initiative as both a performance strategy and a cultural shift, emphasizing portfolio-wide decision-making rather than rigid allocation targets.

Gilmore brings extensive international experience to the role. He joined CalPERS in July 2024 after leading the New Zealand Superannuation Fund, where the sovereign wealth fund generated average annual returns exceeding 12% over a decade. He previously held senior positions at Australia’s Future Fund and the International Monetary Fund.

While the Total Portfolio Approach has become increasingly common among sovereign wealth funds and large institutional investors overseas, it remains relatively uncommon among U.S. public pension systems, which often operate under tighter governance structures and greater political scrutiny.

David Miller, chair of the CalPERS Investment Committee, said the board approved the shift as part of its effort to strengthen the fund’s long-term financial position and help reduce future costs borne by employers and taxpayers.

The change emerged from CalPERS’ latest Asset Liability Management Review, a process conducted every four years to assess whether expected investment returns are sufficient to meet future pension obligations. The fund currently assumes a long-term annual return of approximately 6.8%.

Not everyone is convinced the strategy will deliver the promised benefits.

Critics note that the effectiveness of total portfolio investing is difficult to measure because institutions implement the approach differently. Comparisons between funds can be challenging, making it difficult to determine whether better results come from the strategy itself or from favorable market conditions.

Some observers also point out that research supporting the model relies on a relatively limited sample size. Gilmore has acknowledged that investors should be cautious about drawing broad conclusions from any single study.

The model’s flexibility is its primary attraction, but it also concentrates more responsibility in the hands of investment staff and senior leadership. That increased discretion could lead to stronger performance—or amplify mistakes if major investment decisions prove unsuccessful.

For California’s public workers, taxpayers and government employers, the goal is straightforward: generate better long-term returns while maintaining disciplined risk management.

Whether the experiment succeeds may take years to determine.

The clock starts July 1.

JBizNews Desk — California

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

WASHINGTON — For years, the most talked-about weight-loss drugs in America came with a price tag that put them out of reach for many of the people who could use them, including older Americans on Medicare. That is about to change. The Centers for Medicare & Medicaid Services (CMS), the federal agency that runs Medicare, said ahead of a July 1 launch that eligible members of Medicare drug plans will be able to get certain GLP-1 medications for a flat $50 a month.

The program is called the Medicare GLP-1 Bridge, and it runs from July 1, 2026, through the end of 2027.

GLP-1s are the class of drugs that started as diabetes treatments and are now widely used to manage obesity and related conditions. The best-known brands are Wegovy, made by Novo Nordisk, and Zepbound, made by Eli Lilly, along with a newer Eli Lilly pill called Foundayo. At full list price, these drugs can run well over $1,000 a month, which is why cost has been the single biggest barrier for most patients.

Under the Bridge, the $50 charge is the patient’s total out-of-pocket cost for a monthly supply. CMS said that starting July 1, all versions of Wegovy, all versions of the Foundayo pill, and the KwikPen version of Zepbound will be available through the program. A few forms of Zepbound, including single-dose vials and pens, will not be covered.

There is a reason the government had to build a special workaround. By law, Medicare’s Part D drug plans are barred from covering medicines used purely for weight loss. Making that coverage permanent would take an act of Congress. To get around the limit for now, CMS is using its authority to run temporary demonstration programs — which is why the Bridge is time-limited and carries that name.

Not everyone qualifies. A person must be enrolled in a Medicare Part D drug plan, and eligibility is tied to body weight: a body mass index of 35 or higher, or 27 or higher combined with other health conditions. CMS said beneficiaries do not need to sign up or opt in; instead, a doctor submits a prior-authorization request and prescription.

For Eli Lilly and Novo Nordisk, the move opens a large new door. Medicare covers tens of millions of seniors, and even limited access to that group adds a major new wave of demand for two companies already racing each other for the obesity market. It is also a significant new cost for taxpayers, which is part of why the government capped the program’s length rather than making it open-ended.

The Bridge is also part of a wider push to bring obesity-drug prices down. Under separate deals with the Trump administration, Eli Lilly and Novo Nordisk agreed to cut prices, and their new oral pills start around $149 a month for people paying cash.

There is a catch worth understanding. After 2027, coverage is meant to shift to a separate, longer-term program that individual drug plans can choose to join. That follow-on plan has been delayed and remains uncertain, which means seniors who start getting their medication through the Bridge could face changes to their coverage down the road.

For now, the bottom line is simple. Beginning July 1, a class of drugs that has reshaped both the health-care and food industries becomes affordable for millions of older Americans for the first time — at least for the next year and a half.

JBizNews Desk — Washington

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

A booming year for global stock markets did something that does not happen often: it created millionaires by the million. According to the Capgemini Research Institute’s World Wealth Report 2026, published Thursday in Paris, the world added nearly 2 million new millionaires, pushing the global total to 25.3 million people. That was a 7.9% jump in a single year.

The reason was straightforward. Stock markets around the world climbed sharply, and inflation cooled at the same time. Strong company profits — especially in the technology sector — lifted the value of the investments that wealthy people already hold. As those portfolios grew, more people crossed the line into millionaire territory. Capgemini counts a millionaire as anyone with at least $1 million in investable assets, excluding their primary residence, vehicles, and collectibles.

The United States led the world by a wide margin. The report found the U.S. added 736,000 new millionaires, more than any other country, bringing its total to 8.7 million. That reflects how much of American household wealth is tied to the stock market, where rising markets can lift large numbers of investors at once.

In total, the combined wealth of the world’s millionaires reached a record $98.3 trillion, an 8.7% increase from the year before. Capgemini, which has tracked global wealth for three decades, called it the largest annual increase since 2018.

But the headline number hides the more revealing finding: the richest of the rich grew their fortunes fastest, and the gap between them and everyone else widened.

The report separates ordinary millionaires from what it calls ultra-high-net-worth individuals, people with $30 million or more in investable assets. That group grew 9.4% to roughly 250,000 people, and their combined wealth increased 9.7%. It was the fastest-growing wealth segment for the second consecutive year.

Here is the striking part: these ultra-wealthy individuals represent just 1% of all millionaires, yet they control 35% of all millionaire wealth worldwide.

Why are the very wealthy pulling away? Gareth Wilson, who leads Capgemini’s global banking practice, pointed to access. The richest investors can participate in private deals — the kinds of high-return opportunities often unavailable to smaller investors. While someone with $1 million may primarily rely on public stocks and bonds, someone with $30 million can gain exposure to private equity, private credit, and other investments that have frequently outperformed traditional markets.

That access gap is showing up in investor behavior. The report found that 88% of wealthy individuals now work with more than one wealth management firm, largely to gain access to better private-investment opportunities. Meanwhile, 68% said they expect to increase allocations to private equity over the next year.

For most wealthy investors, however, traditional stocks did the heavy lifting. The share of portfolios held in equities rose to 25% as of January 2026, up three percentage points from a year earlier. Bonds also delivered their strongest returns since 2020, while many alternative investments lagged behind as stock markets continued to outperform.

So what does a report about millionaires have to do with everyone else?

Quite a lot. The report underscores where wealth is being created and how. The single biggest engine of wealth creation was ownership of financial assets, particularly stocks. Households that owned shares — whether through retirement accounts, brokerage accounts, pensions, or company stock plans — generally saw their wealth rise. Households without market exposure largely missed the gains.

That divide helps explain why a rising stock market can propel some families into millionaire status while leaving others largely unchanged.

The report also highlights a growing shift in the business of managing wealth. Nearly three out of four financial advisors surveyed said they want artificial intelligence to handle routine administrative work, allowing them to spend more time serving clients. Wealth management firms are increasingly investing in automation as competition intensifies for a growing pool of affluent investors.

The broader takeaway is clear. Rising markets and easing inflation rewarded people who already owned assets. Those with the largest portfolios benefited the most, and those with access to private investments gained even more. The millionaire club got bigger. It also became more concentrated at the top.

Wall Street — JBizNews Desk

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

New research by the Office of Health Policy shows the U.S. shoulders a disproportionate cost when it comes to paying for prescription medication.

The report, obtained by FOX Business, shows Americans account for nearly 80% of the innovative revenue for drugs launched between 2020 and 2025. The report also shows that no other country comes close to the United States’ contribution to shouldering the cost of research and development. The next-closest country paying the cost for R&D in that timeframe is Japan, which accounts for about 5.5% of innovative revenues for new medications coming online and roughly 5.8% of innovative revenues for all medications.

The U.S. trade representative’s office opened a new Section 301 investigation into Germany’s plan to reduce spending on pharmaceutical products on June 18. Germany accounts for nearly 3.4% of revenue for innovative medications from 2020 to 2025. The result of the investigation could allow President Donald Trump to make good on threats to add 100% tariffs on imports of pharmaceutical medications from Germany or tariffs on other imported goods from the country.

MERCK, SANOFI ARE LATEST COMPANIES TO ADD MEDICATIONS TO TRUMPRX

“I am particularly concerned with news that Germany is fast-tracking legislation that would further reduce its spending on innovative pharmaceuticals,” U.S. Trade Representative Jamieson Greer said in a statement. “This is a serious step backwards at a time when our trading partners need to step up and start paying their fair share to fund innovative pharmaceutical research and development.”

BRISTOL MYERS SQUIBB ADDING 3 MEDICATIONS ON TRUMPRX

The USTR is taking public comment on the investigation through Aug. 10. A public hearing related to the investigation will be held on Sept. 22.

Johnson & Johnson CEO Joaquin Duato told FOX Business Network’s “Mornings with Maria” this month that “We agree with the government that we have to make other countries pay their fair share, especially Europe. And at the same time, we have to work in the middleman. The middleman captures about 50% of the value of the medicine, and we want that value to go directly to the patient to reduce their out-of-pocket costs. So in those areas, the government is always going to find us, Johnson & Johnson, working with them.”

Trump said in a Truth Social post earlier this month that, “Most Favored Nations would not be possible without my use of TARIFFS, which are getting other Countries to ‘pay up’ instead of relying on American Patients getting ripped off, as they were for decades until I ordered an immediate ‘stop’ to this very unfair and, frankly, foolish situation.”

RISING HEALTHCARE COSTS, INSURANCE PREMIUMS NOW WORRY AMERICANS MORE THAN ANY OTHER DOMESTIC ISSUE: POLL

Seventeen of the largest pharmaceutical companies signed deals for Most Favored Nations status for some medications.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

This new report from the Office of Health Policy could be used as a basis of proof that validates the concerns of the Trump administration that the costs Americans have been paying for medications are disproportionally high compared with the rest of the developed world.

This post was originally published here

Israel smuggled Starlink internet receivers into Iran to help anti-government protesters, former prime minister Naftali Bennett said on Tuesday.

However, Prime Minister Benjamin Netanyahu’s government failed to follow through on the plans, Bennett added.

Bennett told an audience at the JNS International Policy Summit in Jerusalem that he had initiated a “process of acquiring and smuggling into Iran tens of thousands of Starlink receptors that would allow continuity of the internet and social networks.”

Starlink, owned by Elon Musk’s SpaceX, provides satellite internet connections. Iran has previously accused Israel and the United States of smuggling in the devices to undermine its security. Starlink is not licensed to operate in Iran, but Musk has previously said the service is active there.

Bennett said the devices were intended to enable protesters to coordinate and ultimately topple the Iranian government.

“Unfortunately, the current incompetent Israeli government stopped doing that,” he said. “And when the protest happened, that infrastructure was not there.”

Prime Minister’s Office, SpaceX not issued response to Bennett’s comments

Netanyahu’s office did not immediately respond to questions on Bennett’s remarks, and SpaceX was not available for comment outside US business hours.

Iranian authorities have shut down the public’s access to the internet during periods of unrest, including during deadly nationwide protests in January and February, and throughout operations Roaring Lion and Epic Fury.

Reuters has previously reported that some Iranians turned to Starlink during internet blackouts.

Bennett, leader of a right-wing party and one of several opposition politicians vying to replace Netanyahu in an election due by October, said that if he returned to office, he would work to undermine Iran’s government with the aim of toppling it. That could include measures short of direct military attacks, such as economic and industrial sabotage, he said.

This post was originally published on here

A Chinese robot maker backed by Japan’s SoftBank Group is preparing to join the rush of technology companies heading for the Hong Kong stock market. Coowa, a Shanghai-based maker of artificial-intelligence-powered robots, plans to file for an initial public offering in Hong Kong within the next two to three months, according to a report that surfaced this week. The company has lined up Huatai Securities and Deutsche Bank to advise on the deal, which would value Coowa at more than $3 billion.

That valuation follows Coowa’s most recent fundraising round, in which it pulled in more than $600 million. Besides SoftBank, its backers include the Asian Infrastructure Investment Bank, a Beijing-based development lender. The Wall Street Journal first reported the listing plans, citing people familiar with the matter; Coowa has not formally confirmed the offering, and the size and timing could still change.

Founded in 2015, Coowa builds robots designed to work in cities. Its lineup includes wheeled machines, “wheel-legged” robots that roll and step, and humanoid-style models. Unlike the dancing humanoids that have grabbed headlines this year, Coowa’s robots are built for practical jobs — moving goods, handling tasks in factories, and helping run apartment buildings and shared-mobility services.

The company has real-world deployments to show investors, which sets it apart from rivals still demonstrating prototypes. Coowa says its robots now operate in more than 50 cities and regions around the world, with total deployments topping 10,000 units. It reported revenue of more than 1 billion yuan, about $148 million, in 2025 — a meaningful number in an industry where many competitors have barely started selling.

Coowa is far from alone. A wave of Chinese robotics companies is racing to list in Hong Kong while investor enthusiasm is running high. Sector leader Unitree is pursuing its own multibillion-dollar listing, humanoid maker EngineAI has filed confidentially, and Agibot is preparing an offering. UBTech, the first humanoid robot maker to go public in Hong Kong back in 2023, has seen its shares climb sharply this year.

Hong Kong has become the world’s busiest market for new share sales in 2026, fueled by a flood of Chinese technology firms. Companies have raised well over $20 billion in the city this year, far more than in the same period a year ago. After years in the doldrums, Hong Kong is once again the destination of choice for big Chinese listings — especially in fields like robots, chips, and self-driving cars that Beijing has named as national priorities.

There is a bigger force behind the boom. China is betting heavily on robots to tackle a shrinking, aging workforce and to keep its factories competitive. The government has made “embodied AI” — software that lets machines sense and act in the physical world — a centerpiece of its economic plans. For investors, that government backing is part of the appeal, suggesting a long stretch of demand and support ahead.

But there is a catch hanging over the whole sector. Supply is racing ahead of proven demand. China builds the vast majority of the world’s humanoid and service robots, yet surveys show many buyers are not yet satisfied with what the machines can actually do. With well over 100 robot companies chasing the same customers and the same investor money, analysts expect a shakeout — and not every company rushing to list today will survive it.

For ordinary readers, Coowa’s listing is another sign of how fast robots are moving out of the lab and into daily life — patrolling buildings, hauling boxes, and working alongside people in stores and warehouses. It is also a marker in the broader US-China technology race. As Japanese money like SoftBank’s pours into Chinese robotics, the question of who leads the next wave of automation is increasingly being decided in Asia.

If Coowa files on schedule, it could be trading publicly before the end of the year. Whether investors reward it with the $3 billion price tag it is seeking will depend on how its growing list of real-world deployments stacks up against the hype surrounding flashier rivals. For now, one of China’s quieter robot makers is stepping into the spotlight — betting that practical machines, not viral videos, are what public markets will pay for.

JBizNews Desk

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

A 67-year-old man was shot dead Tuesday morning on Route 70 near Kabul Junction in the western Galilee, in what police described as a criminal-background shooting, amid reports that he was the father of a state witness in a major organized crime corruption case.

The killing, on one of the main roads in the area, as the man was reportedly on his way to work, has renewed concern over the ability of law enforcement authorities to protect not only witnesses who cooperate with police, but also their families.

Magen David Adom said it received the report at 6:28 a.m. and found the man unconscious, without a pulse or breathing, suffering from penetrating wounds. Paramedics pronounced him dead at the scene.

Police said they opened an investigation and began searching for suspects. They described the background as criminal.

Later Tuesday, the Acre Magistrate’s Court issued a 30-day gag order on the investigation. The order bars publication of all details from the investigation, including the victim’s identity. The victim is therefore not named in this report.

Media reports specified him as the father of a state witness connected to a large corruption and organized crime case in northern Israel. Police had not publicly confirmed that the reported family connection was the motive for the shooting.

The reported link has particular significance because the state witness’s family had already faced a series of alleged threats and attacks after he began cooperating with investigators.

KAN reported that, in January, a suspect was arrested on suspicion of breaking into the witness’s home and delivering a threatening message to his family. A vehicle belonging to the family was later set on fire, according to the report, while the witness was confronting suspects in the investigation. An explosive device then detonated at the witness’s home.

Similar instance occured in Nazareth earlier this year

In April, a 61-year-old man who was a relative of another key prosecution witness in the same case was shot dead outside his home in Nazareth. Police said at the time that the background to that shooting was criminal and that the circumstances were under investigation.

The state witness has been publicly linked to a high-profile investigation into alleged corruption involving a northern municipality and an organized crime group. The case led earlier this year to indictments against former municipal officials and alleged crime-group figures. Those proceedings remain pending, and the defendants are presumed innocent.

The Abraham Initiatives, a nonprofit organization that tracks crime- and violence-related killings in the Arab sector, said Tuesday’s shooting raised difficult questions about the protection provided to state witnesses and their relatives.

State witnesses essential tool to dismantle crime groups, Arab-Israeli crime watchdog says

The group said state witnesses are an essential tool in efforts to dismantle crime groups, but that cooperation with law enforcement may become far harder to secure if witnesses and their families fear retaliation.

The organization said 135 Arab citizens and residents had been killed in crime- and violence-related circumstances since the start of 2026. Of those, it said, 120 were shot dead. The total compares with 124 victims during the equivalent period last year, according to the group’s data.

This post was originally published on here

The video recording of two former Syndey nurses saying they would kill Israeli patients has been thrown out by the presiding judge, and can no longer be used as evidence agaisnt them in the upcoming trial.

Judge Michael McHugh ruled Tuesday that evidence obtained improperly or in contravention of an Australian law cannot be admitted.

“Ultimately, I have come to the firm view that all the video evidence must be excluded from each of the trials of the applicants,” the judge said.

Nurses argued video was taken without consent

This comes after the nurses argued that the recording – taken by Israeli content creator Max Veifer during a conversation – was obtained without their consent, thus breaching NSW laws.

Both former nurses have pleaded not guilty, and will be facing trial in August.

This post was originally published on here

The only Jewish Board member of the Canadian Museum for Human Rights (CMHR), Mark Berlin, has resigned, citing unwilling to be associated with the upcoming “Palestine Uprooted: Nakba Past and Present.”

Berlin, a legal scholar and expert on human rights, was appointed to CMHR’s Board of Trustees in 2018. He is also a professor at McGill University’s International Development Institute with a background in human rights law.

He resigned from his post at CMHR on Monday, stating that he could not be associated with the Museum if it proceeded with its planned exhibit, “Palestine Uprooted: Nakba Past and Present.”

‘A one-sided perspective’ 

“Telling the story with a one-sided perspective chosen by the museum serves to deepen division and contributes to further hostility toward Jews in Canada,” Berlin wrote in his letter.

“Presenting the Palestinian displacement of 1948 without its proper historical and political context offers a narrow, one-sided argument of history that can only deepen the distrust and animosity that currently exists between Jews and Muslims in this country.”

“The museum has a statutory and moral obligation to tell the full truth, not to sacrifice it at the altar of politics. By their actions, the Museum’s mandate is thereby compromised along with the public’s confidence in its integrity.”

He added that it is difficult to understand how telling the story of Palestinian displacement in 1948 while omitting the simultaneous expulsion of 850,000 Jews from the Arab states can be viewed as “anything other than politically motivated.”

The letter, addressed to the Hon. Marc Miller, Canada’s Minister of Canadian Identity and Culture, also raised serious concerns about CMHR’s governance and its ability to fulfill its obligations pursuant to the Museums Act.

“Because the museum chooses to proceed with this exhibit in its present form despite repeated concerns raised by myself and members of the mainstream Jewish community, I can no longer, in good conscience, continue to serve as a Trustee,” he concluded.

B’nai Brith Canada speaks out on the Nakba exhibit

B’nai Brith Canada said Berlin’s letter validates B’nai Brith Canada’s objections to CMHR’s plans for the Nakba exhibit.

“Mr. Berlin is a respected scholar and someone who has worked on the ground to promote peace and human rights in Israel and Palestine,” said Simon Wolle, B’nai Brith Canada’s Chief Executive Officer.

“His letter must serve as a wake-up call not only to the CMHR’s remaining trustees but to Minister [Marc] Miller.”

Wolle said the Government has sought to “shirk” its responsibility to intervene, despite significant concern that the Nakba exhibit will undermine the Museum’s reputation and cause harm to Canadian society.

“With this new information, B’nai Brith hopes and expects that the finger-pointing will stop; that the government will hold itself and its stakeholders accountable, and that the repeated failures to take responsibility where it matters will once and for all be corrected.

On June 18, B’nai Brith Canada issued a set of clearly articulated expectations to the CMHR. Following Berlin’s resignation, B’nai Brith is escalating the matter with both the CMHR and the Federal Government.

Noah Shack, CEO of the Centre for Israel and Jewish Affairs (CIJA), said: “The resignation of the museum’s only Jewish board member is a clear indictment against the Museum’s handling of the controversial ‘Nakba’ exhibit.”

“The lack of transparency in the exhibit’s development, including the prominent role played by political activists—one of whom has described our community’s identity as “a disease to be destroyed”—has severely undermined confidence in a publicly funded institution and ultimately left its sole Jewish board representative feeling compelled to resign.”

Shack called on the Minister of Canadian Heritage to hold the museum’s leadership accountable and ensure that national institutions are “not weaponized against Canadians to serve a one-sided political agenda.”

CMHR has come out in support of its exhibit, despite Berlin’s exit.

On Tuesday, it published a statement saying the exhibit focuses on the lived experiences of Palestinian Canadians and the human rights impacts of forced displacement.

CMHR said that this exhibit falls “squarely within our mandate” and “focusing this one exhibit on the human rights violations faced by Palestinian Canadians does not negate the human rights violations faced by Jewish people.”

CMHR said it remains committed to fighting antisemitism and is in communication with Jewish organizations.

The exhibit is set to open June 27, 2026.

This post was originally published on here

Prime Minister Benjamin Netanyahu returned on Tuesday to the defense of his relationship with businessman Arnon Milchan, as his testimony in the corruption trial entered what is expected to be its final stage.

Netanyahu appeared at the Tel Aviv District Court for continued re-examination by his attorney, Amit Hadad, after the prosecution completed its cross-examination last week.

Re-examination is a limited stage of testimony, intended to clarify issues raised during cross-examination rather than reopen the evidence more broadly. Throughout Tuesday’s hearing, the judges blocked several of Hadad’s questions on the grounds that Netanyahu had already answered them during his cross-examination.

Hadad focused on Case 1000, the so-called gifts affair, in which Netanyahu is charged with fraud and breach of trust. The indictment alleges that he received expensive gifts, including cigars and champagne, worth hundreds of thousands of shekels from Milchan and Australian businessman James Packer, while acting in matters connected to Milchan’s interests.

Netanyahu maintains it was a genuine friendship

The defense has maintained that the relationship was one of genuine friendship rather than an improper exchange between a public official and a benefactor.

To reinforce that argument, Hadad showed Netanyahu photographs from social and family gatherings with Milchan that predated Netanyahu’s return to national politics. Netanyahu described the images as evidence of a close relationship between the two families, including during periods when he said he did not expect to return to public life.

“They eulogized me at the time and saw me as a political corpse,” Netanyahu said of the period after his first term as prime minister. “And I saw myself that way too.”

Hadad sought to use the photographs to counter the prosecution’s suggestion that Netanyahu had always expected to return to political power, and that Milchan’s access to him remained valuable even when Netanyahu was temporarily out of office.

The judges also considered Hadad’s attempts to revisit questions concerning Milchan’s alleged access to Netanyahu during meetings and matters involving Milchan’s US visa. Prosecutors objected that Netanyahu had already provided clear answers, and the bench largely accepted that position.

At one point, Hadad complained that the court was preventing the defense from exposing what he called a misleading picture created during cross-examination.

Presiding Judge Rivka Friedman-Feldman responded that Netanyahu had ultimately answered the questions put to him and that the defense’s objections had been recorded during the proceedings.

Netanyahu then departed from a question concerning the merger of television networks Keshet and Reshet to deliver a broader attack on the investigation.

Netanyahu: ‘I dedicate my life to the State of Israel’

“I dedicate my life to the State of Israel,” Netanyahu said. He added that when he was questioned by police about a decade ago, he had believed in and defended the legal system, but had not imagined that investigators would “brazenly lie to a prime minister.”

Netanyahu accused investigators of attempting to construct a “fictitious reality” in order to remove him from office. The judges repeatedly sought to steer him back to the specific question before him.

Likud MK Tally Gotliv and Otzma Yehudit MK Almog Cohen attended part of the hearing.

The session took place as Netanyahu is also navigating an internal Likud dispute over the party’s next Knesset list. Per reports, while Likud primaries are expected to go ahead, Netanyahu is seeking to secure several personally reserved places on the slate for candidates of his choosing.

Once Hadad completes the re-examination in Cases 1000 and 4000, Netanyahu’s own testimony is expected to conclude, though the wider trial will continue with the remaining defense case.

This post was originally published on here

Back in May, Italy, the UK, France and Germany informed Israel that it needed to put an end to “settlement activity.”

Their joint statement called the areas in which this settlement activity was taking place the “occupied territories, including the E1 area project” east of Jerusalem that, as they stated, “would effectively cut off the West Bank from East Jerusalem.”

They were also perturbed that “the situation in the West Bank has deteriorated significantly,” with “Settler violence is at unprecedented levels.” The “entrenchment of Israeli control” is “undermining stability and prospects for a two-state solution.”

Furthermore, they demand Israel “respect the Hashemite custodianship over Jerusalem’s Holy Sites and the historic status quo arrangements.” The clincher in their diplomatic anger is that “International law is clear: Israeli settlements in the West Bank are illegal.”

As Professor Sharon Pardo of Ben-Gurion University of the Negev suggested at the independent media Euroactive site on June 12, Europe is obsessed with Israel. The “EU should ask why Israel occupies so much space in its diplomatic imagination and whether that hyper focus reflects balanced diplomacy or an entrenched double standard.”

I would add to his observation that France and its settlement presence in New Caledonia should attract more attention, and if the EU were more involved in Turkey’s occupation and settlement of Northern Cyprus, a resurgent Neo-Ottoman Empire might be prevented from arising.

A top agenda item for today’s Left – be they socialists, Marxists, progressives or just plain liberals – is “Jewish settlement in the occupied territories.”

In this post-colonial period, “settling” has been framed as an illegal action, usually perpetrated by Europeans on black and brown peoples, which is part of colonizing. However, even the very much quoted Geneva 49 Article does not include the term of settling.

There is, though, another international law document that does. It is the Mandate for Palestine, adopted by the League of Nations in 1922. The decision to reconstitute the Jewish national home was made unopposed by some 50 nations after the 1919 Versailles Peace Conference set the matter in motion and after it was confirmed at the San Remo Conference in 1920.

Its Article 6 reads: “The Administration of Palestine…ensuring that the rights…of other sections of the population are not prejudiced, shall…encourage…close settlement by Jews on the land…” Jews, then, possess a guaranteed internationally recognized right to settle in its historic homeland.

Zionism was not the establishment of a “spiritual center”, a hovering “light to the nations” or an improved socialist paradise that would outdo the Soviet Union. It was foremost the realization of the idea of the Return to Zion.

Settling the land not only was a vision, not only was it a mitzvah – a religious commandment – not only was it a simple necessity to create a place for Jews to live, but it was, and continues to be, the essence of Jewish national identity.

Settling the land, or, more properly, resettling the Land of Israel, is the natural right of Jews, who have been living on this land for over 3,000 years, a land incorporated into its national psyche and performance in religious and cultural rituals and customs, its literature, its language, and its value as being the homeland where Jews can be free and develop according to its own decisions, with all that entails.

We should recall that on the evening of April 11, 1948, members of the Zionist Actions Committee discussed in Tel Aviv the end of the Mandate framework and a future independent state.

At that meeting, Zalman Shazar employed the phrase, “the nation will claim its inheritance…as its natural right.” Indeed, Israel’s Declaration of the Establishment of the State begins, “Eretz-Yisrael was the birthplace of the Jewish people. Here their spiritual, religious and political identity was shaped.”

While contemporary youth, their college professors and the “influencers” on social media seem to find a sense of joy in their anti-Zionist antics, even pillorying a real estate promotion clip for apartments in Herzliya starring Gwyneth Paltrow, we know they are simply disguising their antisemitism.

Zionism is not European colonialism, and it wasn’t created at the end of the 19th century.

Zionism existed the moment Avram left his father’s house to go to the Land of Moriah. It existed when the Children of Israel left Egypt to return to the Land of Israel, when the exiles of Babylon returned to Zion.

Zionism is Jewish national identity

Zionism is not at all modern. It is a definition of the Jews’ national identity from our beginnings. Without the Land, almost half the commandments would not exist.

Zionism is the belief that the Jewish people’s religion and culture, its national soul, cannot be complete without a national territory and is some 4,000 years old.

A “Zionist Movement” was created in 1897 with Theodor Herzl in a long line of organizational attempts to regather the Jews in their national territory.

This included when the Bilu immigrants banded together in 1881. It existed in 1860 when Rabbi Tzvi Hirsch Kalischer and the Jewish Company for the Settlement of the Holy Land initiated their efforts.

It existed when the pupils of the Vilna Gaon arrived in 1810, in1777 when some 300 hassidim came from Russia, as well as when, in 1561, Joseph Nasi obtained from the Sultan permission for Jews to settle in Tiberias.

It was alive when Nachmanides settled in Acre in 1267 and when Rav Zeira returned to the Land of Israel from Babylonia in the 4th century CE, three hundred years before Arab invaders appeared in Judea.

For over 3,000 years, continuously, Jews return to their land and resettle it. It is what Jews do.

The writer is a researcher, analyst, and commentator on political, cultural, and media issues.

This post was originally published on here

Back in May, Italy, the UK, France and Germany informed Israel that it needed to put an end to “settlement activity.”

Their joint statement called the areas in which this settlement activity was taking place the “occupied territories, including the E1 area project” east of Jerusalem that, as they stated, “would effectively cut off the West Bank from East Jerusalem.”

They were also perturbed that “the situation in the West Bank has deteriorated significantly,” with “Settler violence is at unprecedented levels.” The “entrenchment of Israeli control” is “undermining stability and prospects for a two-state solution.”

Furthermore, they demand Israel “respect the Hashemite custodianship over Jerusalem’s Holy Sites and the historic status quo arrangements.” The clincher in their diplomatic anger is that “International law is clear: Israeli settlements in the West Bank are illegal.”

As Professor Sharon Pardo of Ben-Gurion University of the Negev suggested at the independent media Euroactive site on June 12, Europe is obsessed with Israel. The “EU should ask why Israel occupies so much space in its diplomatic imagination and whether that hyper focus reflects balanced diplomacy or an entrenched double standard.”

I would add to his observation that France and its settlement presence in New Caledonia should attract more attention, and if the EU were more involved in Turkey’s occupation and settlement of Northern Cyprus, a resurgent Neo-Ottoman Empire might be prevented from arising.

A top agenda item for today’s Left – be they socialists, Marxists, progressives or just plain liberals – is “Jewish settlement in the occupied territories.”

In this post-colonial period, “settling” has been framed as an illegal action, usually perpetrated by Europeans on black and brown peoples, which is part of colonizing. However, even the very much quoted Geneva 49 Article does not include the term of settling.

There is, though, another international law document that does. It is the Mandate for Palestine, adopted by the League of Nations in 1922. The decision to reconstitute the Jewish national home was made unopposed by some 50 nations after the 1919 Versailles Peace Conference set the matter in motion and after it was confirmed at the San Remo Conference in 1920.

Its Article 6 reads: “The Administration of Palestine…ensuring that the rights…of other sections of the population are not prejudiced, shall…encourage…close settlement by Jews on the land…” Jews, then, possess a guaranteed internationally recognized right to settle in its historic homeland.

Zionism was not the establishment of a “spiritual center”, a hovering “light to the nations” or an improved socialist paradise that would outdo the Soviet Union. It was foremost the realization of the idea of the Return to Zion.

Settling the land not only was a vision, not only was it a mitzvah – a religious commandment – not only was it a simple necessity to create a place for Jews to live, but it was, and continues to be, the essence of Jewish national identity.

Settling the land, or, more properly, resettling the Land of Israel, is the natural right of Jews, who have been living on this land for over 3,000 years, a land incorporated into its national psyche and performance in religious and cultural rituals and customs, its literature, its language, and its value as being the homeland where Jews can be free and develop according to its own decisions, with all that entails.

We should recall that on the evening of April 11, 1948, members of the Zionist Actions Committee discussed in Tel Aviv the end of the Mandate framework and a future independent state.

At that meeting, Zalman Shazar employed the phrase, “the nation will claim its inheritance…as its natural right.” Indeed, Israel’s Declaration of the Establishment of the State begins, “Eretz-Yisrael was the birthplace of the Jewish people. Here their spiritual, religious and political identity was shaped.”

While contemporary youth, their college professors and the “influencers” on social media seem to find a sense of joy in their anti-Zionist antics, even pillorying a real estate promotion clip for apartments in Herzliya starring Gwyneth Paltrow, we know they are simply disguising their antisemitism.

Zionism is not European colonialism, and it wasn’t created at the end of the 19th century.

Zionism existed the moment Avram left his father’s house to go to the Land of Moriah. It existed when the Children of Israel left Egypt to return to the Land of Israel, when the exiles of Babylon returned to Zion.

Zionism is Jewish national identity

Zionism is not at all modern. It is a definition of the Jews’ national identity from our beginnings. Without the Land, almost half the commandments would not exist.

Zionism is the belief that the Jewish people’s religion and culture, its national soul, cannot be complete without a national territory and is some 4,000 years old.

A “Zionist Movement” was created in 1897 with Theodor Herzl in a long line of organizational attempts to regather the Jews in their national territory.

This included when the Bilu immigrants banded together in 1881. It existed in 1860 when Rabbi Tzvi Hirsch Kalischer and the Jewish Company for the Settlement of the Holy Land initiated their efforts.

It existed when the pupils of the Vilna Gaon arrived in 1810, in1777 when some 300 hassidim came from Russia, as well as when, in 1561, Joseph Nasi obtained from the Sultan permission for Jews to settle in Tiberias.

It was alive when Nachmanides settled in Acre in 1267 and when Rav Zeira returned to the Land of Israel from Babylonia in the 4th century CE, three hundred years before Arab invaders appeared in Judea.

For over 3,000 years, continuously, Jews return to their land and resettle it. It is what Jews do.

The writer is a researcher, analyst, and commentator on political, cultural, and media issues.

This post was originally published on here

Cadence, a digital health company that cares for patients with chronic conditions, has raised $100 million as it seeks to expand its footprint and automate the work of its clinicians with artificial intelligence.

The new investment, led by Spark Capital, values Cadence at $1.23 billion and finds the company at a crossroads. Cadence’s core billing model, in which it charges insurers monthly for remote monitoring of patients, has come under scrutiny from the federal health department’s watchdog and from insurers, including UnitedHealthcare. Critics argue that the reimbursement framework is ripe for abuse and may support low-quality care.

That model currently supports a bulk of Cadence’s work with over 20 health system customers that refer patients to the company’s chronic disease management programs. Cadence uses devices such as blood pressure cuffs and an army of hundreds of clinicians to monitor and care for patients with hypertension, diabetes, and heart failure. But the foundation of Cadence’s business may change entirely with a large investment in AI. The company currently manages over 100,000 patients, and CEO and founder Chris Altchek hopes to “take it to the next level,” by automating a chunk of the human work.

Continue to STAT+ to read the full story…

This post was originally published here

“Gallia est omnis divisa in partes tres.”

All Gaul is divided into three parts. Julius Caesar used those words more than 2,000 years ago to begin an account of military conquest.

America’s housing affordability challenge might be described similarly.

Like Gaul of yore, it divides into three parts: talk, action, and outcomes. Identifying the three parts; that’s a cinch. Navigating the brutal, withering, mystifying distance between them is where housing affordability in the U.S. becomes a case of history repeating and getting almost nowhere.

That journey has frustrated and flummoxed policymakers, builders, investors, manufacturers, technologists and reform-minded housing advocates for generations.

Even when progress seems real, the same obstacles persist decades later and continue to bedevil the industry: insufficient housing supply, rising costs, labor constraints, permitting delays and a persistent inability to deliver attainable housing at scale.

That reality gives particular significance to two little-noticed funding opportunities recently launched by the U.S. Department of Housing and Urban Development.

As applications for a $10 million robotics- and AI-enabled housing manufacturing demonstration and a $3 million automated permitting systems initiative remain open until July 13, HUD is quietly testing whether technology-driven productivity gains can be part of a broader housing affordability solution.

The timing of the HUD innovation foray is like stars aligning in the firmament of political will to “go big” on what’s plainly a societal scourge felt at a household level: our housing attainability crisis.

Congress – with a vote expected today in the House of Representatives – is poised to finalize and send the 21st Century ROAD to Housing Act to President Trump’s desk, continuing a multiyear policy conversation focused on reducing regulatory barriers to housing production.

At the same time, HUD is pursuing a complementary strategy: investing in technologies designed to improve how housing is manufactured and how housing projects move through local approval systems.

Viewed together, the efforts suggest recognition that America’s housing shortage is by no means a problem of regulatory friction alone. It is equally a the-way-we’ve-always-done-it productivity problem. It is also equally an inefficient Residual Land Value capital investment problem.

These frictions are binding and have proven unrelenting.

Today’s “go big” talk and commitment to action echo a housing experiment launched nearly six decades ago by a HUD secretary who approached housing with an industrialist’s mindset.

George Romney’s unfinished experiment

In 1969, former American Motors chief executive and HUD Secretary George Romney launched Operation Breakthrough, one of the most ambitious federal housing innovation initiatives.

Romney believed America would not solve its housing challenges solely through additional subsidies, policy changes, or conventional building practices. He envisioned a broader transformation that would apply industrial management principles across every aspect of housing production.

As a housing historian and author of Construction Physics, Brian Potter notes that Operation Breakthrough sought not only to develop new construction technologies but also to address the entire housing delivery system, including production, financing, regulation, land use and distribution.

The ambition was a moonshot. The talk was epic. The action was both bold and sweeping.

Yet despite producing thousands of housing units and fostering significant experimentation, Operation Breakthrough ultimately failed to create the industrialized housing ecosystem its architects envisioned. Within a few years, many of the systems developed through the program had disappeared from the market.

Today, prefabricated housing accounts for a smaller share of U.S. homebuilding than it did before the initiative began.

The reasons – and the vicious circles of failure since then – remain relevant.

Operation Breakthrough revealed that technology alone cannot transform housing production. Fragmented demand, inconsistent regulations, localized approval systems, financing barriers, and market structures often proved stronger than the innovations themselves.

The lesson was never that innovation failed. It was that innovation without system-level alignment rarely achieves a plain-and-simple business non-negotiable: net-margin-positive scale.

That observation lies at the center of current conversations about housing industrialization.

The system, not the technology

Few observers have spent more time studying that question than Ryan Smith, co-founder of ModX and one of the principal researchers on HUD’s recent work to accelerate offsite construction.

Smith argues that the industry’s challenge – and the boneyard of flashy, VC-backed, save-humanity offsite, robotic, 3D-printing enterprises that have thrown talent, time, money and political capital into efforts to meet it over the past decade or more – is often misunderstood.

The conversation often centers on robotics, automation, modular construction, or factory-built housing, as if technology itself were the breakthrough. In reality, he says, countries that have successfully industrialized housing have built supporting systems that enable technology to scale.

“We know that the United States had a world-class industrialized housing sector,” Smith said. “Today Japan and Northern Europe really lead this area. The question is: What are the barriers in the United States to getting back to where we were, or to do what essentially Japan and Northern Europe have been able to accomplish?”

According to Smith’s research, the answer extends well beyond factory technology.

Recommendations from HUD-sponsored studies include demand aggregation, performance-based regulations, housing system certification, government incentives, and stronger alignment among federal, state and local housing policies.

These recommendations acknowledge that housing remains one of America’s most fragmented industries, or as Brian Potter calls it, “a loosely connected community of practice,” with thousands of local jurisdictions operating under different codes, approval processes, and procurement practices.

Smith points to international examples where governments did more than support innovation. They created predictable market conditions that encouraged manufacturers and investors to commit capital over long time horizons.

Other countries, he notes, developed offsite construction industries through coordinated incentives, harmonized standards, and demand signals that brought uncertainty and risk for manufacturers within reasonable tolerance levels.

The result was not simply better technology but a more coherent ecosystem for deploying it.

That perspective helps explain why HUD’s new funding opportunities may be more consequential than their dollar amounts suggest.

The programs are not solely about robotics or permitting software. They represent an attempt to generate evidence about how new technologies perform within real-world housing systems.

Why entrepreneurs see an inflection point

For housing technology entrepreneurs, the significance of the HUD initiatives lies partly in what they signal to the broader market.

Vikas Enti, founder and chief executive of Reframe Systems, which is preparing an application for the robotics demonstration program, sees the funding opportunity as validation of a larger shift underway in housing production.

“The cost curves are not going to get bent by continuing to build homes the existing way,” Enti said. “We have hit an inflection point in the industry where we need fundamentally new approaches to continue advancing labor efficiency.”

Reframe’s business model centers on decoupling construction from traditional jobsite processes and moving more production into advanced manufacturing environments. That approach reflects a growing belief among housing innovators that meaningful productivity gains will require housing to become less dependent on fragmented, labor-intensive field operations.

Enti believes the HUD program sends an important signal not only to builders and manufacturers but also to investors.

Federal support has historically played a catalytic role in sectors ranging from aerospace to electric vehicles, helping attract additional private capital once technologies demonstrate viability.

Enti hopes the demonstration program can serve a similar function for housing innovation.

“I hope this encourages more federal funding for housing and catalyzes interest from philanthropic funds and local state financing,” he said.

That possibility resonates with another observation from a source familiar with HUD’s thinking. Speaking on condition of anonymity because he was not authorized to discuss the matter publicly, the source said most applications are expected to arrive near the July deadline, but emphasized that the larger objective is to create momentum.

The source noted that many of the institutional mechanisms originally envisioned during the Operation Breakthrough era remain available today. The challenge is not necessarily inventing entirely new frameworks but creating conditions that allow innovation, standards, and local adoption to advance together.

Beyond regulation, beyond pilots

None of this diminishes the importance of regulatory reform.

The National Association of Home Builderslatest estimate finds that regulation accounts for $131,734, or 26.4%, of the average new single-family home’s price. Reducing unnecessary regulatory burdens remains an essential component of improving housing affordability.

Yet the industry’s focus on regulation sometimes obscures another reality.

Every day of delay in the permitting process adds cost. Every inefficiency in the construction cycle adds cost. Every labor shortage, coordination failure, inspection bottleneck, supply chain disruption, and productivity loss adds cost.

Those costs rarely appear clearly on a regulatory ledger, but they accumulate throughout the housing delivery process.

That is where HUD’s two demonstration programs intersect with the broader conversation about housing affordability.

One program seeks to determine whether advanced manufacturing technologies can improve production efficiency. The other seeks to determine whether technology can improve approval efficiency. Both focus on throughput, cycle time, and productivity.

The question now is whether they become one of an on-again-off-again series of demonstrations or, in fact, establish a real trailhead.

Pilot projects alone cannot transform an industry. Operation Breakthrough ultimately showed that. They move beyond talk to action. But sustainable change – and the dynamic, repeatable, resilient outcomes we so sorely need – require that builders, manufacturers, capital providers, regulators, policymakers, and local governments remain committed long after the demonstration phase ends.

Talk can identify the problem. Action can fund a pilot.

Outcomes require durable systems, aligned incentives and long-term commitment. We’ll know them when we see them.

This post was originally published on here

More than 400 Lebanese public figures, including politicians, religious leaders, and other prominent figures, have declared their support for a campaign advocating Lebanese sovereignty in opposition to both Iranian interference and the Israeli presence in the country on Monday.

The ‘A Call to Save Lebanon’ initiative asserts the need for civilians to publicly support Beirut, legitimate institutions, diplomatic processes and an end to both Iranian interference and Israel’s presence in southern Lebanon. Notably, this end to Iranian interference calls for only state actors to hold arms, addressing the yet-to-be-implemented March law ordering the demilitarization of the Iran-backed terrorist organization Hezbollah.

Founded in 1982 with the support of Iran’s Islamic Revolutionary Guards, Hezbollah has long drawn the country into its battle against Israel, a battle that has seen it assassinate members of Lebanon’s own leadership. Frustrations reached a boiling point in early March when the terrorist organization dragged the country into another war, this time in an apparent response to the assassination of Ayatollah Ali Khamenei, which left many voicing that the group represented Iranian interests, not the Lebanese.

The A Call to Save Lebanon coincides with Beirut’s talks in Washington regarding a ceasefire with Israel, discussions set to go ahead despite the Islamic Republic absorbing a ceasefire on the Lebanese front in its Memorandum of Understanding with the United States.

Lebanese Forces leader Samir Geagea, in an open letter addressed to US Vice-President JD Vance, said that Hezbollah had caused significant difficulties for Christians in the otherwise diverse and culturally rich Lebanon.

‘Iran does not represent interests or aspirations of the Lebanon’

While thanking Vance for his work, Geagea accusing Hezbollah of usurping “national decision-making, weakened legitimate institutions, prevented the establishment of an effective and capable state, and furthermore, embroiled Lebanon in conflicts and wars linked to Iranian agendas that do not represent the interests or aspirations of the Lebanese,” and requested that Washington affirm its support for the legitimate authorities in Lebanese by removing foreign powers of the country’s decision-making processes.

Fouad Makhzoumi, a parliamentarian and president of the non-sectarian National Dialogue Party, published in a statement, “Lebanon cannot reclaim its sovereignty and independent national decision-making as long as Hezbollah’s weapons remain outside the authority of the state, and as long as decisions of war and peace are made outside the country’s legitimate institutions.”

Makhzoumi called on state authorities “to deploy the Lebanese Army throughout the Nabatieh region and along the areas adjacent to positions that remain under Israeli control, in order to prevent any military actions or provocations that could provide Israel with additional pretexts to expand its military presence.”

Kataeb leader Sami Gemayel asserted that it was not possible for the Lebanese people to continue to coexist with an armed Hezbollah, regardless of any external negotiations, and argued that Iran’s inclusion of a ceasefire in Lebanon deal is a tactic to preserve its military control there.

“Most Lebanese are not prepared to live as hostages to Hezbollah. We will live in peace on our land, in safety, freedom, and dignity, and we will not go back—and this will be the end of the sorrows,” he asserted.

Speaking at a press conference, he stressed: “Lebanon sacrificed ten times what Iran did during the war as confirmed by Iranian parliament Speaker Mohammad Bagher Ghalibaf.”

“The Lebanese state must demonstrate to the world that it exists and that it speaks and acts. It is time for the Lebanese army to implement decisions. No more excuses,” he added.

This post was originally published on here

LONDON — Sanofi on Monday named a new leader for its research and development efforts, as the French pharma company looks to reinvigorate its pipeline under new CEO Belén Garijo. 

Paulo Fontoura will become global head of R&D for Sanofi’s pharma work starting Sept. 1. A neurologist by training, Fontoura was most recently the chief medical officer at Xaira Therapeutics, an AI-focused drug discovery company. He previously spent more than 15 years at Roche. 

Fontoura is replacing Houman Ashrafian, who joined Sanofi in 2023 following years as a health care investor. Sanofi said Ashrafian “has decided to pursue an opportunity outside the company.” 

Continue to STAT+ to read the full story…

This post was originally published here

A new gene-editing startup has threaded the needle of negotiating contracts with a Chinese drug company, raising $230 million in funding, and executing a reverse merger with a preexisting biotech company. 

The result? Serapha Bio, which launched Tuesday to develop a one-and-done treatment for a liver and lung disease called Alpha-1 Antitrypsin Deficiency, or AATD, founding investors RA Capital and RTW Investments told STAT exclusively. 

RA and RTW arranged $138 million in Series A funding for Serapha, along with $92 million in additional funds tied to the company’s reverse merger with Boundless Bio. Boundless Bio launched in 2019 to study extrachromosomal DNA and its role in cancer growth but ran into trouble with its lead program.

Continue to STAT+ to read the full story…

This post was originally published here

A new kind of preschool in China offers games, nibbles, treadmills, and music for puppies, clawing out a fast-growing niche in a booming industry as youthful owners spend more on pets increasingly regarded as family.

Pets arrive by 9 a.m. each day at Paw³, which bills itself as a kindergarten for dogs in Shanghai’s commercial hub, providing tightly scheduled activities for the canines rather than strict training or age limits.

They follow a routine of interactive games and obstacle courses, interspersed with freshly made snacks and naps as a pianist plays classical music, and can stroll on a special doggie treadmill before their owners pick them up around 7 p.m.

“We raise our dog like a child,” said Qian Yi, whose one-year-old border collie, Harry, visits every weekday.

As declining birth rates alter lifestyles, pets are increasingly treated as members of the family, driving growth in higher-value services such as daycare, grooming, and training.

Their popularity stems from broader structural shifts in China’s consumer economy. Younger, urban consumers prioritize spending on experiences and emotional fulfillment, despite a softening in overall demand.

Qian estimated that she spends about 4,000 yuan ($560) each month on her dog for daycare, meals, grooming, swimming, and visits to dog parks.

Pet Data, a China-based industry research firm, estimates that the market for urban pet consumption reached 312.6 billion yuan ($46 billion) in 2025 and is on track to exceed 405 billion yuan by 2028.

Idea came to founder to help his dog

Paw³ founder Jann Zhang said the idea came to him after a struggle to find help for his six-year-old golden retriever, Fuzai, who developed anxiety-related behavioral problems.

His search led him to discover dog daycare equivalents in the United States, and he came to believe the main issue was a lack of socialization.

“I was hoping to give my own dog more space to be social, so I could distract his attention,” Zhang said. “That’s how the idea of opening the kindergarten came about.”

His clientele has grown to 200 since it started with fewer than 20, and owners pay daily rates ranging from 98 to 138 yuan, depending on the dog’s size.

“What attracts me most about the place is that it gives dogs a space of their own,” said William Tang, whose one-year-old border collie, Cinderella, has attended the kindergarten since it opened in May 2025.

A US fighter jet pilot who was shot down over Iran in April during the height of Operation Epic Fury claims he saw a formation of Iranian drones flying in a shape resembling a jellyfish, four sources familiar with the matter told CNN on Tuesday.

The F-15 pilot told intelligence officials that he observed the “multiple Iranian drones, moving as one” during a debriefing following their rescue by US Special Forces.

“Multiple drones interconnected and moving as one with smaller drones below the bigger drones like legs… real alien s***,” one of the sources familiar with the pilot’s account told CNN.

Another source stated that the pilot described it as a “minefield of drones.”

CNN noted that it is unclear if the second member of the jet’s crew saw the drones.

What occured during the crash in April?

The cause of the F-15’s downing is still under investigation over two months after the incident. However, initial reports assess that the drone formation may have enabled Iran to shoot down the jet, two sources told CNN.

An F-15 holds a two-person crew, usually consisting of a pilot and a navigator, or weapons system officer. The downing of the jet in April was the first time that Iran had downed a US fighter jet.

The pilot was rescued several hours later after ejecting from the aircraft, while the weapons system officer hid in the mountains to evade Iranian capture for over a day before being rescued.

Questions also arise within the US Intelligence community as to how to interpret what the pilot saw.

One such concern is that the pilot was concussed during the crash, CNN noted.

Further, it was the second time that he had been shot out of the sky during Operation Epic Fury as he was part of the flight crew, which was downed in a friendly fire incident by the Kuwaiti military, two sources told CNN.

The report cited a source who said one official asked the pilot, “Are you sure you saw what you are saying you saw?”

US Intelligence concerned Iranian drone formation could signal greater capabilities, threats

Intelligence officials are concerned because several drones moving in unison within a formation would represent an alarming advance in Iranian drone capabilities, CNN noted.

One drone warfare expert told CNN that the US military would “spend huge, huge dollars, like a lot of blood and treasure, protecting ourselves from something that can coordinate like that.”

“If it can coordinate itself into a recognizable shape and maintain that shape, and if it’s got explosives on board, and if it is holding resources in reserve to attack whatever the first volley didn’t destroy – that’s a very capable approach,” they added.

This post was originally published on here

The Israeli AI company Autobrains announced a collaboration with Uber and Nvidia to create Europe’s first autonomous commercial ride-hailing network, which will be operating in Munich in the near future, pending regulatory approval.

“We created a unique system for autonomous driving through agentic artificial intelligence, which breaks down the reasoning into small tasks and makes it easier to process,” Igal Raichelgauz, Autobrains founder and CEO, told The Jerusalem Post.

He told the Post that the system also relies on developments from the defense sector, using satellite imagery, cameras, and drone connectivity to improve its self-driving capabilities.

The collaboration between the Israeli company, Uber, and Nvidia brings, according to their statements, the “three essential layers for scalable robotaxi deployment”: Software developed for autonomous driving, a platform like Uber that already offers ride-hailing services, and Nvidia’s hardware.

The company, according to Raichelgauz, now aims to complete enough test drives to provide statistics that are safer by a landslide compared to human rides, with the drives conducted under human supervision, including during the system’s initial launch.

Convincing people to hop in a driverless taxi

When asked how the company aims to earn enough trust for people, especially older generations, to get into autonomous taxis, Raichelgauz explained that the system is designed to explain everything it’s doing out loud to instill confidence in its passengers.

“The first experience when you drive in robotics is really kind of, you know, surprising. There is someone in the driving seat, but he is not driving. And the car speaks to you, using local mannerisms and slang that was also programmed into the AI system,” he said.

“We also believe that, when we manage to launch the product without the need of a physical person in the driver’s seat, then people will start trusting the service just because it’s cheaper than the one that uses actual drivers,” he added.

According to Autobrains, the program will enable automakers to enter the self-driving sector by integrating their vehicles into the system and testing them in real-world environments such as Munich’s ride-hailing ecosystem.

Will it come to Israel?

When asked about the possibility of using this technology in Israel, Raichelgauz said that many potential partners approached the company after the Munich announcement and that the possibility was being discussed internally.

“We hope to be able to apply our technology in Israel, maybe even transform Israel into the first nation to have the system working nation-wide,” he said, but added that it was still in the early stages and that the main priority was expanding into the European sector.

For the moment, two key milestones were reached in Israel that would allow autonomous taxis to be implemented: the legalization of ride-sharing apps and of self-driving cars.

The Knesset’s Ministerial Committee on Legislative Affairs approved a bill back in January that would allow Uber, Lyft, and other shared-ride apps to operate in the country.

Additionally, Tesla announced in February that it would begin supervised autonomous driving trials in Israel after receiving government approval from the Transportation Ministry.

This post was originally published on here

Jewish groups have condemned a Boston school principal for an email he sent apologizing to Arab, Muslim, Palestinian, and Lebanese students who were offended by a mandatory Holocaust lesson.

In the email, William Diamond Middle School Principal Johnny Cole said he was “sorry” for the impact the Holocaust lesson had on some students.

“Some of you felt unseen. Some of you felt that your own history, identity, or community was left out or erased. Some of you left that session feeling less safe, not more,” Cole wrote.

While he acknowledged that hard conversations and topics are part of the school’s framework, he apologized for “missing the mark” with this class.

“Every one of you deserves to walk into this school and feel that who you are matters – Arab students, Jewish students, Lebanese students, Muslim students, Palestinian students.”

He said the teachers and working with families in the community to “build something better that “includes all of our histories.”

The Holocaust requires an apology?

Stop Antisemitism condemned the email, saying, “Since when is teaching historical fact something that requires an apology? And why is a school principal validating outrage over Holocaust education instead of defending it? Since when is teaching historical fact something that requires an apology? And why is a school principal validating outrage over Holocaust education instead of defending it?”

This is not the first time the school and its principal have made headlines over the last week.

Just days ago, one school pupil, Teaghan Murtagh, wrote a letter to the Lexington Observer about Cole’s order for her not to wear a T-shirt with the words “Save the bees. Plant more trees. Clean the seas. Punch Nazis.”

Murtagh had been wearing to school regularly for nearly two years. Her great-grandmother was a Holocaust survivor, having spent the war in a concentration camp at the same age Murtagh is now.”Dr. Cole told me not to wear the shirt to school again because he ‘had received some student complaints’ from students who ‘felt threatened’. I was floored. I wanted to ask how anyone (other than a Nazi or someone with a bee-related anaphylactic allergy) could feel threatened by the shirt. I had a feeling it didn’t have to do with the bees,” she wrote.

“When my grandmother was growing up, she knew when she needed to keep her mouth shut for survival. Over 6.5 million Jewish people were killed in the Holocaust. Against that horrific backdrop, it is a miracle that I exist. I know when I need to open my mouth and speak up. I do this through shirts, typically. My closet is full of snarky shirts, since it’s how I express myself and share my thoughts with the world. From reading books to fighting patriarchy, my closet covers it all.”

She noted that, in December 2025, students at the school drew neo-Nazi symbols on the bathroom walls in December and the “only schoolwide response was a statement on the announcements telling us to be kind.”

Cole shared with parents and students on December 17 that the graffiti included an antisemitic neo-nazi symbol and a racist anti-Black epithet.

“We live in a world that is incredibly scary right now, particularly for people who hold identities that are targeted by events like this or the events that are happening outside of Lexington. We want students to understand that they have contributed to that fear,” he said in a statement. “We want them to do the opposite of this — we want them to build a culture of unity and togetherness in this space, and suspensions and traditional disciplinary methods don’t typically do that.”

This post was originally published on here

Spain’s Jewish organizations have come out in defense of renowned journalist and writer Pilar Rahola after the Barcelona Hate Crimes Prosecutor’s Office opened preliminary proceedings following a complaint filed by two activists who threw paint at her during a conference in 2024.

In October 2024, activists from the Socialist Youth Organization of Catalonia (OJS) interrupted one of Rahola’s talks and threw red paint at her in what they said was a protest against support for Israel’s actions in Gaza.

The same two activists have now filed a complaint alleging that some of Rahola’s public statements, articles, speeches, and social media posts could constitute hate speech against Palestinians or amount to incitement related to alleged crimes in Gaza. Specifically, the OJS activists accuse her of “acting as a paid collaborator of the Zionist regime and being directly involved in the commission of genocide by the State of Israel against the Palestinian population.”

They also said Rahola “consciously promotes a hate discourse that dehumanizes the victims and whitewashes the perpetrators of genocide, contributing to the creation of a climate of hostility against the Palestinian population.”

The OJS cites Rahola’s article in El Nacional in which she accepted the quote by the French philosopher Bernard-Henri Lévy when he said that, in reality, “if Israel had wanted to carry out a genocide it would have taken three days and not three years” to commit it, and her accusations against the UN special rapporteur forthe occupied Palestinian territories, Francesca Albanese, as examples of her ‘genocide complicity.’

The activists argue that Rahola’s actions contravene articles 510 and 607 of the Penal Code of “incitement to hatred and complicity with genocide”.

As a result, the Barcelona Hate Crimes Prosecutor’s Office opened preliminary proceedings, which means it is examining the complaint to decide whether it has any legal merit.

Jewish Communities of Spain say attack on Rahola is ideological persecution

The Federation of Jewish Communities of Spain (FCJE) said it rejects any attempt to turn political debate into an instrument of ideological persecution.

“We respect the work of the Prosecutor’s Office, but we remind everyone that freedom of expression is a non-negotiable pillar of democracy.”

The European Jewish Congress echoed the concerns expressed by the FCJE, saying, “While we respect the independence of judicial authorities, political disagreements must be addressed through debate and argument, not through harassment, intimidation or efforts to silence individuals for expressing their views.”

Both FCJE and EJC expressed particular concern regarding the OJS’s references to an alleged “international Zionist conspiracy,” a narrative they said is “rooted in classic antisemitic tropes that have long been used to stigmatize Jews.”

Since the Hamas attacks of October 7, 2023, Rahola has been a prominent voice in Spain and Latin America defending Israel. She has consistently challenged accusations of genocide leveled against Israel.

The Jewish Community of Barcelona praised her “firm commitment to freedom, democracy, and coexistence.”

Israel’s Representative in Spain, Dana Erlich, expressed the embassy’s “full support to Rahola in the face of those trying to intimidate and silence her.”

Rahola herself said, “If the aim of this persecution is to silence my critical spirit, I warn you that it will not succeed.”

“If they wanted to scare me, they do not scare me. If they thought I would self-censor, I will not. If they think they will make me shut up, they will not succeed. Nor will they prevent me from thinking for myself. And if they believed I would end up following the herd, they are badly mistaken. My freedom of thought is non-negotiable. It defines my human condition.”

This post was originally published on here

Imagine standing in the heart of the Judean Desert, exactly where King Herod’s legendary palace once echoed with the sounds of a vibrant empire. This week, for the first time in two millennia, the ancient fortress of Herodium truly came back to life.

Drawing hundreds of attendees from across the globe, the site hosted the grand opening of the International Conference on Israeli Heritage and Antiquities in Judea and Samaria. Spearheaded by the Heritage Ministry, the evening transformed the monumental tomb and palace into a pulsating hub of culture, history, and national identity. It was a gathering of unprecedented scale, attended by Heritage Minister Amichai Eliyahu, the United States Ambassador to Israel, Mike Huckabee, alongside members of Knesset, international diplomats, and leading scholars.

. (credit: Go Live / Yaniv Nadav)

The crown jewel of the evening was a staggering, multi-sensory production titled “Herod VS Bar Kokhba: The Battle for Eternity.” Starring acclaimed actors Shuli Rand and Ron Shahar, the performance transported the audience back to antiquity. Through a dazzling combination of live music, street theater, pyrotechnics, and meticulous historical reenactments, dozens of performers resurrected the age-old tension between the might of the Roman Empire and the fierce Jewish quest for sovereignty. Experiencing this epic narrative on the very soil where these historical dramas unfolded added an electrifying layer of authenticity to the night.

This remarkable evening served as the flagship event for “Derech Eretz Moreshet” (The Path of Heritage), a visionary national project led by the Heritage Ministry. The initiative is investing substantial resources in the restoration, development, and accessibility of historical and biblical sites across Judea and Samaria. Far from treating these locations as mere archaeological ruins, the project reimagines them as premier educational, cultural, and tourism destinations. Herodium, where the grandiose vision of Herod intersects with the fierce legacy of the Great Revolt and the Bar Kokhba rebellion, stands as a shining centerpiece of this endeavor, designed to connect the public deeply with the foundational sites of history.

. (credit: Go Live / Yaniv Nadav)

The international resonance of the initiative was underscored by the presence of U.S. Ambassador Mike Huckabee, who was awarded the Heritage Prize during the ceremony, for his dedication to strengthening ties to the region’s historical roots.

“My job is to represent the United States to the Israelis, but it is also my job to represent the meaning of Israel to the U.S.,” Huckabee remarked to the crowd. “Your heritage is also our heritage; without your heritage, there is no heritage for the United States. The only way to erase Israel’s heritage is to close your eyes and plug your ears, because history is carved here into every rock.”

. (credit: Go Live / Yaniv Nadav)

Heritage Minister Amichai Eliyahu echoed this sentiment of resilience and international partnership. “There are those who claim Israel is isolated and that relations with America are strained. Some turn to UNESCO and attempt to steal our history,” Eliyahu stated. “Today, they are invited to look at Herodium, at this international archaeological conference, and at a 2,000-year-old pool that has returned to life. This is our answer to those who try to weaken us from within and without, not with words, but with actions.”

As the conference continues this week, offering a robust itinerary of lectures, professional panels, and tours for global experts, the overarching message is clear. As Benny Har Even, Staff Officer for Archaeology, beautifully summarized: “Great things are happening in archaeology in Judea and Samaria. The earth continues to reveal the foundational chapters of Jewish history, artifact by artifact; the ancient roots are being brought back into the light.”

This article was written in cooperation with Derech Eretz

This post was originally published on here

The semiconductor stocks that have driven this year’s market rally fell hard on Tuesday, and the reason cut to the heart of the entire AI trade: investors are starting to doubt whether the staggering sums being spent to build artificial intelligence will pay off. The Philadelphia Semiconductor Index, the benchmark for big U.S. chipmakers, dropped 7.9%, with all 30 of its members falling. Thomas Martin, a senior portfolio manager at the investment firm Globalt, pinpointed the worry, saying recent news has raised questions about all the spending being done and the ramping of chip-making capacity to feed it.

That is the core issue. For two years, the market has run on a simple premise — that demand for AI would be all but limitless, so every dollar poured into chips and data centers would be rewarded. Tuesday was the day that premise got questioned out loud. The fear is straightforward: that the giant technology companies building AI are spending far ahead of real demand, and that chipmakers racing to add production could end up with more capacity than customers actually need. If that happens, the prices and profits underpinning these stocks would fall.

What makes the question urgent is how the build-out is being paid for. Increasingly, the spending is funded by borrowing. The “hyperscalers” — the handful of companies constructing enormous data centers — have been raising debt to finance their AI ambitions, and even SpaceX recently tapped the bond market for the first time. Debt magnifies the stakes: if AI revenue arrives more slowly than promised, the bills still come due. That is why any hint that demand might disappoint sends a jolt through the whole sector.

The selloff hit hardest exactly where the AI bet was biggest. Micron Technology, Marvell Technology, and On Semiconductor — each of which had more than doubled in value this year — led the index lower. Memory-chip makers Micron and SanDisk, among the best performers in the S&P 500 this year, both fell about 13%, while Nvidia dropped 4.1%, and Intel and Advanced Micro Devices fell between 5.8% and 9.4%. The names that had soared the most on AI optimism were the ones investors dumped first — a sign the doubt is aimed squarely at the spending thesis, not at any one company’s results.

The wave started overnight in Asia, where memory giants Samsung Electronics and SK Hynix tumbled and South Korea’s main stock index fell so sharply it triggered an emergency trading halt before the selling crossed into U.S. markets. But geography was just the messenger. The same question — is the AI build-out sustainable? — drove the losses on both continents.

The next real test comes Wednesday, when Micron reports earnings. Its results could offer the clearest read yet on the memory-chip market, the segment that supplies the components AI systems depend on. Strong demand and an upbeat forecast would suggest the spending is still backed by real orders; a cautious outlook would hand the skeptics fresh ammunition. Because memory chips sit at the center of both the boom and Tuesday’s bust, Micron’s numbers have become a referendum on the entire trade.

For ordinary investors, the stakes are bigger than they may realize. The market’s gains this year have leaned heavily on a small group of chip and AI stocks, so when doubt hits them, it hits the broad indexes inside millions of retirement accounts — even for people who have never bought a chip stock. That concentration is the quiet risk beneath the rally: the same names that lifted the market on the way up can drag it down just as fast.

None of this settles the underlying debate. Demand for AI chips is still enormous, and many on Wall Street believe the spending will ultimately be justified. But Tuesday made the central tension impossible to ignore. The entire rally rests on a single, unproven assumption — that the AI boom will generate enough real revenue to justify the trillions being spent chasing it. Until that question is answered, days like this one will keep coming.

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

Watch this episode without interruptions.

For months, the question hanging over Jerusalem was what a US–Iran deal would mean for Israel.

In the newest episode of The Jerusalem Dispatch, host Calev Ben-David and co-host Ruth Marks Eglash, editor-in-chief of The Jerusalem Report, dig into the answer, and it isn’t the one many Israelis hoped for.

The new US–Iran memorandum of understanding has landed not as a victory lap after a war of ballistic missiles and bomb shelters, but as a deflating anticlimax, prompting the hosts to ask out loud: after all the sacrifice, what did Israel actually get?

From there, they turn unsparing. Why is JD Vance, seen in Israel as the administration’s least sympathetic voice, leading talks mediated by Qatar and Pakistan? Why does a new “deconfliction cell” in Lebanon leave Israel out while shaping its border towns, even as Trump warns Netanyahu not to “overreact” against Hezbollah but threatens to level Iran?

They probe the widening gap between Washington and Jerusalem, and the election squeeze closing in on Netanyahu by October.

The talk then pivots to sport: Iran crying oppression at the World Cup while jailing its own footballers, an Israeli flag furled in a Los Angeles stadium as a Palestinian one flew, and the Maccabiah opening July 1 as a quiet act of resilience.

This post was originally published on here

Russia and Ukraine may conduct another prisoner exchange soon, according to Human Rights Commissioner Yana Lantratova, as reported by the Russian news agency TASS on Tuesday.

Additionally, a Ukrainian attack reportedly damaged a school building in a Russian-controlled area of Ukraine’s Zaporizhzhia region, according to local authorities.

This is a developing story.

This post was originally published on here