Eleven people were wounded in Houthi strikes on Saudi Arabia, the Saudi Press Agency reported early Friday morning, citing the Saudi-led coalition fighting the Yemeni terrorist group.

One Yemeni, two Egyptians, and one Pakistani were wounded alongside seven Saudis, the coalition said.

Among the wounded Saudis, one woman and a four-year-old child were counted.

On Tuesday, the Houthis claimed to have struck Najran Airport in response to Saudi drone incursions over Yemen. Saudi Arabia did not comment on the claims at the time.

On Thursday, the Houthis claimed to have struck Saudi troops in the border areas of Al Ruwayk, Al Abr and Al Thaniyah using ballistic missiles and drones. The group said hundreds of Saudi-aligned fighters were killed or wounded, and that military camps, weapons depots and vehicles were destroyed.

GIRLS STAND next to a poster depicting Saudi Arabia’s King Salman bin Abdulaziz Al Saud (right) and Crown Prince Mohammed bin Salman in Jeddah, Saudi Arabia, 2017.  (credit: REUTERS/REEM BAESHEN)

The Yemeni government sources, however, noted that 30 of its troops had been killed in attacks on military camps in Yemen’s Marib and Hadramout provinces, adding that the death toll could rise.

Saudi Arabia recently struck Iran-backed militias in Iraq

In recent weeks, the Saudi-Houthi conflict has escalated rapidly, and on Friday, morning, a Saudi official said the country is anticipating attacks from Iran-backed militias in Iraq in coordination with the Houthis. The attack, they said, could target civilian and economic sites including energy infrastructure, ports and airports.

This reveal came about as a result of intelligence from Saudi Arabia, the US, and other countries, the official said. Moreover, Saudi Arabia had observed drone and missile movement, the official noted.

The official added that an attack could be meant to derail diplomatic negotiations, and that the Saudi Arabia remains prepared in the event of a strike.

On July 29, Saudi Arabia said it had struck Iran-backed groups in Iraq following alleged attacks on Saudi oil facilities. The militias vowed to respond in turn.

Saudi Arabia, Turkey, and Pakistan are also expected to sign a joint defense agreement on Friday.

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Airbnb told investors after Thursday’s closing bell that it expects to bring in more money this year than it had previously projected, and it pointed directly at artificial intelligence as one reason the math has improved. The company’s AI support assistant now settles nearly half of customer problems without a human agent ever picking up the case, and that alone shaved a sizable chunk off what it costs the company to service each booking. Fewer support agents per booking means more of every dollar booked stays with the company.

The second-quarter results landed well ahead of what Wall Street had penciled in. Revenue rose 17% from a year earlier to $3.6 billion, gross booking value climbed 16% to $27.2 billion, and earnings came in at $1.37 a share against the $1.26 analysts expected. Net income reached $816 million, up from $642 million in the same quarter last year, while adjusted EBITDA rose 21% to $1.26 billion. Nights and seats booked increased 10%, a faster pace than the first quarter, and the adjusted EBITDA margin held at 35%.

On the strength of that quarter, management raised the bar for the rest of the year. Airbnb now expects full-year revenue growth of at least the mid-teens, up from its earlier low-to-mid-teens target, and lifted its full-year adjusted profit margin floor to at least 35.5% from 35%. It is the second time this year the company has moved its annual revenue forecast higher. For the current quarter, Airbnb guided to revenue of $4.69 billion to $4.77 billion.

The AI story is the one management pushed hardest, and unlike most corporate AI talk, it came attached to a number readers can check. The company said its AI assistant is now available in more than 50 languages and resolves close to 45% of the issues it starts handling without escalating to a person — an improvement over the first quarter, with faster resolution times as well. Customer support cost per booking fell roughly 16% year over year, which Airbnb credited in large part to that assistant, and it expects the figure to keep falling as the tool takes on a wider range of problems.

That is the practical shape of the payoff. Customer service has always been the expensive, unglamorous side of running a global rental marketplace: millions of stays, each one carrying the possibility of a lockbox that won’t open or a listing that doesn’t match the photos. Automating even half of those calls changes the cost structure of the entire business, and it does so without requiring the company to book fewer stays or charge hosts more.

Chief executive Brian Chesky framed the quarter on the earnings call as the result of an internal overhaul rather than a bolted-on feature, telling analysts the company has rebuilt itself from the ground up as an AI-native operation and describing the computing costs of running those models as minor next to what they return. Finance chief Ellie Mertz said the raised guidance builds in a meaningful increase in AI spending, and margins are still widening anyway.

Demand did the rest of the work. Airbnb said growth picked up in both its newer expansion markets and several of its largest established ones, with nights booked accelerating in the United States, France, the United Kingdom and Australia. The company described demand as strong across all regions, with Latin America growing especially fast.

The turn matters here. Earlier this year, the conflict in the Middle East pushed cancellation rates higher among travelers in Europe and Asia, and Airbnb had warned that the disruption would take roughly a percentage point off its second-quarter bookings. Growth accelerated regardless, which is the more meaningful signal in the report: a travel company adding bookings faster while carrying a live geopolitical headwind is one whose demand is not fragile.

There is also a credibility angle. The quarter ended a run of three consecutive periods in which Airbnb came in under profit expectations, a streak that had cost the stock some of the premium investors once granted it.

Markets responded immediately. Shares jumped about 11% in after-hours trading Thursday, after closing the regular session up roughly 12% for the year to date.

The open question for the second half is whether the comparisons get harder. Airbnb is now lapping quarters in which it was already growing quickly, and the new full-year target leaves less room to disappoint. But the cost side of the ledger is moving in the company’s favor for reasons that do not depend on travelers booking more nights — and that is the part of this quarter competitors will find hardest to copy.

JBizNews Desk | Wall Street

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The Federal Aviation Administration (FAA) has ordered inspections of hundreds of Boeing 737 Max jets over possible cracking in the aircraft’s body, though Boeing said the issue has not been seen on the Max fleet.

The airworthiness directive (AD) applies to certain Boeing 737 Max 8, Max 9 and Max 8-200 airplanes and affects an estimated 471 U.S.-registered aircraft.

Airline operators must inspect the fuselage skin and carry out additional inspections or repairs when needed.

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“This AD was prompted by reports of cracks in the bear strap at the forward upper corner of the forward galley door cutout,” the directive states. 

“The FAA is issuing this AD to address cracks in the fuselage skin and bear strap, which may lead to the inability of the principal structural element to sustain limit loads and adversely affect the structural integrity of the airplane.”

The directive takes effect Sept. 10, 2026.

Boeing told FOX Business the issue was first identified on certain 737 Next Generation aircraft and has not been seen on the 737 Max fleet.

The company said it extended the inspections to Max aircraft because the models share a similar design and manufacturing process.

“Boeing identified and reported this issue and has been working with operators on it over the past six years,” the company said.

NEW BOEING AIRCRAFT DEVELOPMENT HAMPERED BY BACKLOG OF EXISTING ORDERS, SAYS CEO

Boeing notified 737 Next Generation operators about the issue in 2019, and the FAA mandated inspections for those aircraft in 2021.

“The FAA airworthiness directive published today mandates the inspections, as it did for the 737 Next Generation. We support both directives and continue to support our airline customers,” Boeing said.

The aircraft manufacturer said the inspections provide multiple opportunities to detect and correct possible cracks before they exceed a critical length.

BOEING PURSUES MASSIVE CHINA JET DEAL AS CEO JOINS TRUMP’S DELEGATION TO BEIJING

Boeing has also conducted an engineering analysis to determine the root cause and is making manufacturing changes intended to prevent the condition.

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“Boeing is introducing changes to the manufacturing process that address the root cause of the unsafe condition on in-production airplanes,” the FAA directive noted.

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A newly published UNICEF-led survey proves that the “false narrative against Israel,” of there being a famine in the Gaza Strip, is falling apart, Israel’s Ambassador to the United Nations Danny Danon said on Thursday.

“Once again, facts prevail over fiction,” Danon said. “UN bodies are acknowledging that the false narrative against Israel is falling apart.”

“Israel is not starving children. Israel is fighting Hamas terrorism, while Hamas uses civilians in Gaza as human shields. Those who rushed to accuse Israel must now be held accountable for spreading lies.”

The nutrition survey, which was coordinated by the UNICEF, showed that children in Gaza have low levels of acute malnutrition.

Using internationally recognized World Health Organization (WHO) methodology, researchers measured children’s weight, height, and mid-upper-arm circumference to assess acute malnutrition using the Weight-for-Height Z-score (WHZ).

Palestinian boys sit amid the debris of destroyed buildings following an Israeli strike at the Al-Jalaa street in Gaza City on July 24, 2026. (credit: Omar AL-QATTAA / AFP via Getty Images)

According to the results of the survey, acute malnutrition rates across Gaza ranged between 0.2% and 0.8%.

These are levels comparable to or below those recorded in Gaza prior to the Israel-Hamas War, and are significantly lower than those reported in neighboring countries, including Egypt, Jordan, and Syria.

“In other words,” the Foreign Ministry, in its own statement to X/Twitter, added, “There is no famine in Gaza.” 

“Malnutrition is not only significantly below the critical values – it is exceptionally low in regional comparison. Anyone who is still open to arguments can look at the empirical data themselves.”

Stunting, overweight, unhealthy diet

The survey also presented several other concerns regarding children’s nutrition in the Gaza Strip.

In the study, stunting is noted as a main child nutrition concern, affecting about one in eight children. This points to “longer-term nutritional stress and repeated deprivation beyond immediate wasting,” according to the survey.

It added that overweight is also present across the Strip, and that the “coexistence of wasting, stunting and overweight
highlights the importance of diet quality, not only food quantity.”

In Khan Younis and Rafah, the survey found that unhealthy food consumption reached a high of 78%, while in Gaza City and northern Gaza, some 64% do not eat fruit or vegetables.

ICP: Nutrition in Gaza has improved since early 2026

In a report released on July 23, the Integrated Food Security Phase Classification (ICP) said that since the Israel-Hamas ceasefire in October 2025, “large-scale assistance has driven improvements in food security and nutrition conditions across the Gaza Strip,” but noted that “needs remain high.”

ICP added that the nutrition situation in the Gaza Strip improved since early 2026, and classified the nutrition level at Phase One (less than five percent of children are acutely malnurished) of its Acute Malnutrition table between mid-April. 

It warned, however, that the level could drop to Phase Two (five to 9.9% percent of children are acutely malnurished) between July and December 2026.

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A bipartisan group of lawmakers introduced a federal legislation Thursday in the House and Senate aimed at protecting houses of worship from disruptive demonstrations, following a series of protests outside of synagogues this year.

The Right to Worship Act was introduced by Sens. Ted Cruz, a Texas Republican, and Elissa Slotkin, a Michigan Democrat, alongside Reps. Brad Knott, a North Carolina Republican, and Tom Suozzi, a New York Democrat. It would establish a 100-foot “buffer zone” around houses of worship during religious services, mirroring similar legislation recently enacted in New York.

“The First Amendment guarantees every American the right to freely exercise their faith, and Congress has a duty to ensure that guarantee is met,” Cruz said in a statement Thursday.

The legislation would also establish civil penalties for offenders and provide pathways for individuals, including state attorneys, to seek court orders and damages in federal court. While the legislation would target protesters who knowingly disrupt scheduled religious services, houses of worship would not be required to make their schedules public.

The bill’s sponsors say the measure is aimed at conduct rather than the content of protesters’ speech.

Supporters of Israel clash with pro-Palestinian protesters blocking access to the Adas Torah Orthodox Jewish synagogue, in Los Angeles, June 23, 2024.  (credit: DAVID SWANSON/AFP via Getty Images)

Bill is latest attempt to protect places of worship from protests

“No one should have to push through a hostile crowd or shout over a bullhorn in an attempt to pray,” said Jonathan Greenblatt, the CEO and national director of the Anti-Defamation League, which helped lawmakers draft the legislation.

It’s the latest attempt at passing federal legislation aimed at insulating houses of worship from protest, following Suozzi’s “SACRED Act” legislation, a similar bill he introduced in April but which has not progressed in the House.

Those efforts have now been joined by Slotkin, who is Jewish, and Cruz, who has often taken aim at antisemitism within the Republican coalition over the past year.

“Exercising your right to worship should not require you to exhibit particular courage as you enter your synagogue, church, mosque, temple, mandir, or gurdwara,” Suozzi said in a statement.

The New York City Council passed a local buffer zone bill in March following a series of pro-Palestinian protests outside of synagogues that hosted Israeli real estate expos. While Jewish groups and leaders heavily advocated for the measure, it also faced opposition from civil rights leaders who said it would have a chilling effect on First Amendment protections.

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The former governor of Mexico’s southern Guerrero state has been arrested for allegedly ordering the destruction of evidence that could have helped shed light on the whereabouts of 43 students who disappeared in 2014, authorities said on Thursday.

Angel Aguirre, who has previously denied wrongdoing, was arrested on charges of obstruction of justice and forced disappearance, Attorney General Ernestina Godoy told reporters.

The case, considered one of the country’s worst human-rights atrocities, has been marred by missteps and interference.

International probes have determined that the students from Ayotzinapa Rural Teachers College were killed by organized crime members in cahoots with police, while on their way to a protest in Mexico City.

The ​remains of three victims have since been positively ​identified, but the others have yet to be found.

A member of the Mexican navy patrols Benito Juarez International Airport after Mexican drug lord Nemesio Oseguera, known as ''El Mencho,'' was killed in Jalisco state, in Mexico City, Mexico, February 22, 2026. (credit: REUTERS/Luis Cortes)

Gov. claimed critical security camera footage didn’t exist

Godoy said new testimony from two people in January and May, one a protected witness, helped establish that Aguirre may have ordered the destruction of evidence related to the night of the students’ disappearance in a meeting with senior officials in his administration.

She did not specify when the meeting took place or the details of the evidence.

“An analysis, based on new evidence and in accordance with due process, confirmed the possible involvement of Angel ‘N,’ former governor of Guerrero, in the destruction of evidence that could have revealed the students’ whereabouts,” Godoy said. The letter “N” is used as a placeholder for a suspect’s last name.

Godoy said that state authorities had initially claimed that security camera footage of the students traveling by bus near government offices in Guerrero did not exist.

However, a witness who had previously kept quiet due to threats came forward this year, she said.

Angela Buitrago, a member of the Interdisciplinary Group of Independent Experts, an independent international rights team that has investigated the case, said her team had opened the line of investigation into Aguirre in 2015.

She said the latest information reinforced the team’s conclusion that the state was responsible, and had the footage Aguirre reportedly ordered to be destroyed come to light sooner, it could have helped find the students.

“It is a state crime, regardless of whether it was committed by state or federal authorities,” she said.

A spokesperson for Enrique Pena Nieto, who was president from 2012 to 2018, did not immediately respond to a request for comment.

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Israel is suffering from a similar interceptor shortage as the United States, former Israeli Navy commander Maj.-Gen. (res.) Eliezer Marom claimed in a 103FM interview on Wednesday.

“When it comes to Arrow missiles, we have fewer than we would like, and production capacity is very limited. As a result, a very large share of the interceptions were carried out by THAAD systems and SM-3 missiles launched from US Navy ships,” he said.

“We’re only fighting Iran. What happens tomorrow morning if we have to fight China, should it decide to invade Taiwan? That would be an entirely different war. This issue requires a thorough investigation.”

Additionally, Marom expressed concern that Israel may ultimately have to strike Iran on its own because Washington is unwilling to act while Tehran exploits the delay to advance its nuclear and missile programs.

Marom discusses reports of a severe munitions shortage in the US military.

Marom addressed the map of US interests regarding a possible strike on Iran, as well as reports of a severe munitions shortage in the US military.

Illustrative image of former commander of the Israeli Navy, V.-Adm. (res.) Eliezer Marom. (credit: (Photo: Majid Asgaripour/WANA (West Asia News Agency) via REUTERS), YONATAN SINDEL/FLASH90)

“What is happening right now is that the Americans really do not want to strike. There are many reasons for that, but the main ones are the shortage of munitions, especially interceptors,” he said. 

“The second issue is that Trump’s current strategy is to reach the elections at the beginning of November with fuel prices as low as possible.”

According to Marom, the nuclear issue, the missiles, and Iran’s proxies are all secondary in US President Donald Trump’s eyes, while the Iranians are focused on reaching an understanding over the Strait of Hormuz and dismantling the Abraham Accords.

“They want to achieve two things… and postponing everything else, race toward a nuclear bomb and a stockpile of ballistic missiles that will be difficult to contend with. A massive American strike on civilian infrastructure in Iran could bring down the regime, and they do not want that to happen, so they are pushing matters to the very edge,” he said.

“The ones stirring this entire pot are the Qataris, and Qatar has one interest only: that Iran remains stable and strong.”

Israel must be prepared to strike at any moment, Marom says

Marom also outlined several steps he believes Israel should take under the current circumstances.

“We need to do several very important things, such as sticking with the negotiations with Lebanon. We must not allow those negotiations to fall apart because they are a thorn in the Iranians’ side, and they are under tremendous pressure because of them. We see that Naim Qassem has declared that he is prepared to help the Lebanese Army enter southern Lebanon and push the IDF out, all in order to undermine the negotiations,” he said.

“The second thing is that Israel must be prepared to strike at any moment. If there is no American attack, Iran will cross the red lines. They are racing ahead both in the nuclear sphere and in ballistic missiles. Israel will have no choice but to strike production facilities in Iran, even if it has to do so alone, and that could even lead to a confrontation with the United States.”

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US President Donald Trump signed two executive orders on Thursday aimed at denying citizenship to children born in the United States because of commercial “birth tourism.”

Trump is also seeking to deny birthright citizenship for children born of some foreign diplomatic staff in the US and, potentially, US territories in the future, according to an Axios report.

Limiting birthright citizenship has been one of the top priorities in the Republican president’s crackdown on immigration.

An earlier effort by Trump was rejected by the Supreme Court in June, prompting him to call upon Congress to act.

The U.S. Supreme Court on the day the court issued a ruling that the government can restrict asylum claims processing at the U.S. border, in Washington, D.C., U.S., June 25, 2026.  (credit: Elizabeth Frantz/Reuters)

Birth tourism numbers estimated to be in low five figures

No US law outright bars birth tourism, but a federal regulation implemented in 2020 during Trump’s first term prohibits using temporary tourist and business for the primary purpose of obtaining U.S. citizenship for a newborn. People who engage in birth tourism schemes could be prosecuted for fraud or other related crimes.

There are no official figures tallying the number of foreigners who come to the US for the explicit purpose of giving birth and obtaining citizenship for their children, or the cost to taxpayers.

The Center for Immigration Studies, which supports lower levels of immigration, estimated in an analysis in 2020 that between 20,000-25,000 mothers came to the US for birth tourism in a year-long period between 2016-2017.

There were 3.6 million births in ‌the US in 2025.

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US President Donald Trump spoke with optimism regarding the end of the war with Iran during the signing of an executive order in the White House on Thursday.

“I think it’s going to end pretty soon,” he said, adding that “I don’t think they [Iran] can go much longer.” 

Regarding the Strait of Hormuz and a rumored deal to reopen the waterway, Trump said that the strait is “sort of open right now.”

“You know, we have a thing called the blockade, headed up by the US Navy, and we control it,” he said. “But they can always shoot something.”

“They always have something or drop a mine,” he warned, “and if you have one mine sitting out there, you sort of mess things up because people don’t want to take their billion-dollar boats and accidentally get hit by a mine.”

A vessel in the Strait of Hormuz, as seen from Musandam, Oman, July 16, 2026 (credit: REUTERS/STRINGER)

On Wednesday, the White House refuted reports that Trump and US Defense Secretary Pete Hegseth had argued about a lack of munitions in the wake of the war with Iran.

“We always want more,” Trump said. “We have to have more. We have other things, maybe come up, maybe come up, and maybe don’t come up. Hopefully, nothing else does come up. But we’re in very good shape. We have literally massive amounts of ammunition.”

Trump also reiterated his opposition to Iran obtaining a nuclear weapon, and said that should it obtain one, “the whole world would be blown up.”

“We’re not going to let that happen,” he said. “Not only for us, not only for the Middle East, the entire world would have faced a catastrophe. We had no choice.”

US, Iran, Oman reportedly close to reaching a deal

The US, Iran, and Oman were close to reaching a deal this week to open the Strait of Hormuz for a period of 60 days, Axios reported on Wednesday. The White House had aimed for a Wednesday announcement, the report cited officials as saying, though ultimately no announcement was made.

On Tuesday, US Secretary of State Marco Rubio said progress had been made in talks with Iran, adding that the US was “hoping” for an agreement.

Oman and Iran had agreed on terms for the potential deal, MS NOW reported on Thursday citing Middle East diplomats with knowledge of the negotiations.

Leo Feierberg Better contributed to this report.

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Fox’s advertising revenue surged 78% to $1.92 billion in its fiscal fourth quarter, powered by the FIFA World Cup and showing just how valuable live sports have become as traditional television audiences continue to fragment.

Fox held the exclusive U.S. English-language broadcast rights to the tournament, which drew record audiences. Nearly 63 million U.S. viewers watched Spain defeat Argentina in the final, making it the most-watched World Cup match ever in the country. 

The tournament also created something broadcasters value almost as much as ratings: additional commercial inventory.

New hydration breaks effectively divided matches into more advertising windows, allowing Fox to monetize the same game more aggressively without adding another event to its schedule.

That helped lift total quarterly revenue to $4.21 billion, well above the roughly $3.64 billion analysts expected. Adjusted earnings reached $1.79 a share, also beating Wall Street estimates, and Fox shares rose more than 5%. 

The results illustrate a widening divide inside the media business. Scripted entertainment can be watched later, skipped or spread across multiple platforms. Major live sporting events still gather millions of viewers at the same moment, making them increasingly scarce advertising inventory.

That scarcity gives broadcasters pricing power.

Fox is also using sports as a customer-acquisition tool for its digital businesses. Its Fox One streaming service recorded 2.8 million sign-ups in June, its strongest month since launch, while Tubi revenue increased 35%. Management said the World Cup produced stronger subscriber acquisition and retention than expected. 

The challenge is that sports rights are expensive and getting more expensive. Networks must generate enough advertising, subscriptions and distribution revenue to justify increasingly large rights payments.

For now, Fox’s quarter shows why broadcasters continue bidding aggressively.

In a media market where audiences are increasingly difficult to assemble, live sports remain one of the few products capable of delivering tens of millions of consumers to advertisers at the same time.

JBizNews Desk | Media & Advertising

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Saudi Arabia expects imminent coordinated attacks from the north and south by Iraqi militias and Yemen’s Houthis under the supervision of Iran’s Islamic Revolutionary Guard Corps (IRGC), a senior Saudi official said on Thursday.

The official, speaking on condition of anonymity, said intelligence reports from Saudi Arabia, the United States and other regional countries indicated civilian and economic sites could be targeted, including energy infrastructure, ports and airports.

Saudi Arabia had also observed drones and missiles being moved, suggesting coordinated operations from both directions, the official said.

The official said the reported threats were particularly alarming as Riyadh continued to pursue de-escalation and a negotiated settlement, adding that contacts with all parties, including Iran, and mediation efforts appeared to be moving “in the right direction.” The official said the planned attacks could be intended to disrupt those diplomatic efforts.

 Newly recruited fighters who joined a Houthi military force intended to be sent to fight in support of the Palestinians in the Gaza Strip, march during a parade in Sanaa, Yemen December 2, 2023. (credit: REUTERS/KHALED ABDULLAH)

Saudi-Houthi conflict has developed in past weeks

The official said Saudi-US cooperation remained “very high” at all levels, including operationally with US Central Command (CENTCOM), and said Saudi Arabia was prepared to take all necessary measures to respond to any aggression.

On July 29, Saudi Arabia said it carried out strikes with CENTCOM against Iran-backed groups in Iraq after blaming them for drone attacks on its oil facilities. Iraqi militias said they would respond to the Saudi strikes.

Tensions between Saudi Arabia and the Houthis have escalated in recent weeks after the Iran-aligned group imposed what it describes as a naval blockade on the kingdom in the Red Sea and claimed a series of attacks on Saudi shipping and military targets. Saudi Arabia has responded to the recent Houthi attacks with strikes on military sites in Yemen.

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The cost of protecting against a sharp move in the dollar climbed Thursday as traders positioned for Friday’s employment report without the usual level of guidance from the Federal Reserve about what could come next.

Fed Chairman Kevin Warsh has deliberately moved away from the central bank’s longstanding reliance on forward guidance, arguing that officials should avoid signaling a rate path when economic conditions are changing quickly. The Fed formally dropped forward guidance from its policy statement in June, and Warsh has continued with shorter statements and fewer clues about future rate decisions. 

That has made individual economic reports more powerful.

When markets have a relatively clear sense of where the Fed is headed, companies and investors can hedge currencies around a narrower range of expected outcomes. When the Fed leaves more uncertainty, every major inflation or employment report has greater potential to move interest rates and the dollar.

For businesses with overseas revenue or expenses, that uncertainty has a direct price.

Currency options effectively operate as insurance against an unfavorable exchange-rate move. When expected volatility rises, those options become more expensive. That means importers, exporters, manufacturers and distributors can face higher hedging costs before the underlying currency has moved significantly at all.

The Fed’s quieter communication strategy is therefore changing an ordinary operating expense for companies doing business internationally.

The immediate test is Friday’s July employment report. Economists expect payroll growth of roughly 80,000 following a 57,000 increase in June, with unemployment around 4.2%.

A stronger report could reinforce expectations that the Fed will keep rates elevated or consider another increase, potentially strengthening the dollar. A weak report could push rate expectations and the dollar in the opposite direction.

The yen is particularly sensitive.

The dollar traded around ¥158 on Thursday after extraordinary intervention by the United States and Japan last week to support the Japanese currency. The joint operation marked the first coordinated U.S.-Japan yen intervention in nearly three decades. 

The intervention showed how seriously both governments view disorderly currency moves. The yen’s weakness has been driven partly by the large difference between U.S. and Japanese interest rates, which encourages investors to borrow cheaply in yen and place money in higher-yielding dollar assets.

That strategy, known as the carry trade, can become unstable when the yen suddenly strengthens. Investors may be forced to unwind leveraged positions quickly, creating volatility across currencies, bonds and equities.

Japan’s changing interest-rate environment adds another layer. Stronger wages are giving the Bank of Japan greater room to continue raising rates, which could narrow the U.S.-Japan rate gap and reduce the incentive to remain heavily positioned against the yen.

Japanese investors have also begun reducing some U.S. debt exposure. They sold a net ¥4.67 trillion, or about $29.6 billion, of U.S. government, agency and local-authority debt during the first quarter, the largest quarterly sale in nearly four years. 

That matters because Japan remains one of the largest foreign sources of demand for U.S. debt. Reduced overseas buying can add upward pressure to Treasury yields, which eventually feeds through to mortgages, business loans and other borrowing costs.

For now, the market is waiting on one number.

Friday’s jobs report will provide the first major test of the Fed’s less predictable communication strategy — and determine whether traders were right to pay more for protection.

— JBizNews Desk | Wall Street

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

Israel’s outstanding run at the Cadet and Junior World Jiu-Jitsu Championships in Abu Dhabi continued with another impressive haul of medals in the No-Gi competition, as the blue-and-white delegation capped the event with four more podium finishes and second place in the overall medal standings.

Leading the way was Guy Torres, who captured the Under-18 world championship in the under-62 kg division. Fellow Israeli Tamir Naim earned the bronze medal in the same weight class, giving Israel two medals in one of the tournament’s most competitive divisions.

Shalev Snir added a silver medal in the under-56 kg category, while Eden Gamliel finished runner-up in the Under-18 under-69 kg division to round out another successful day for the Israeli squad.

No-Gi Jiu-Jitsu is a style of grappling where fighters wear form-fitting athletic clothes like rash guards and board shorts instead of a traditional heavy cotton uniform. Without fabric to grip, matches move at a much faster pace with a heavy focus on body control, underhooks, and leg locks.

In Abu Dhabi, the Israeli team also collected more medals that did not meet the official criteria for inclusion in the championship standings but nevertheless provided more memorable moments for the delegation, including multiple renditions of Israel’s national anthem, “Hatikvah.”

Brazilian Jiu-Jitsu Master Ricardo de la Riva Goded, during one of his seminar sessions in Jerusalem, along with Israeli Martial Arts groups, during his visit in Israel. (credit: ABIR SULTAN/FLASH90)

The latest success comes on the heels of earlier world titles won by Noga Reshef and Lia Shalev in the traditional gi competition. Altogether, Israel’s cadet and junior team completed the No-Gi championships with 13 medals, including four gold medals, finishing second in the overall medal table.

Throughout much of the competition, Israeli Ambassador to the United Arab Emirates Yossi Shelley accompanied the delegation, attending matches, supporting the athletes and coaching staff, and later presenting medals to the Israeli winners during the official award ceremonies.

‘Another day of full success’

“We concluded the Cadet and Junior No-Gi World Championships with another day full of success for Team Israel,” said Israel Jiu-Jitsu Association president Erez Elroy. “I want to thank our coaching staff for their preparation and support throughout this demanding competition. I also extend special thanks to Ambassador Yossi Shelley for honoring us with his presence during much of the championship.”

Arik Kaplan, president and CEO of the Ayelet Association, the umbrella organization for Israel’s non-Olympic sports, praised the team’s achievements.

“It was another tremendous day for Israeli jiu-jitsu at the World Championships,” Kaplan said. “Guy, Tamir, Eden and Shalev competed against some of the world’s best athletes and displayed outstanding skill, determination and character. Their performances, together with the team’s overall results and second-place finish in the medal standings, demonstrate the depth and quality of Israel’s next generation of athletes.”

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US President Donald Trump has told his donors that he wants Vice President JD Vance to win the 2028 presidential election, The Washington Post reported on Thursday.

According to two anonymous sources, Trump had told the donors that “At the end of the day, we need to elect JD,” during a meeting in the Oval Office two weeks ago. 

One presidential advisor told the Washington Post that Trump has privately resolved that Vance will be the next candidate for the Republican Party, but that it is “too early” to know when he will announce his candidacy.

However, other advisors cautioned that Trump could still change his mind about the endorsement, and that he tells different things to different people.

“Anyone assuming it’s a lock is just getting way ahead of themselves, or just doesn’t know the president very well,” one official said.

US Vice President JD Vance speaks during a press briefing in Washington, DC, US, October 1, 2025. (credit: REUTERS/Kevin Lamarque TPX IMAGES OF THE DAY)

US Jews support Marco Rubio as next president

Vance’s main opponent in the 2028 presidential election is thought to be Secretary of State Marco Rubio, who has received widespread support from Jewish Americans.

“I can certainly tell you with confidence that in the American Jewish conservative circles, it’s Marco Rubio by a margin of 99 to 1,” activist Shabbos Kestenbaum said in May.

“In fact that’s probably underselling it, it’s probably closer to 100 to 0. I can’t think of anyone within the American Jewish MAGA movement who would not want Marco Rubio as the nominee.”

Trump himself has floated a Vance-Rubio ticket, without saying which of the two he thinks should be president.

Joseph Strauss contributed to this report.

This post was originally published on here. 

Former deputy national security minister Yoav Segalovitz announced on Thursday his resignation from Knesset and departure from the Yesh Atid party.

“Over the years, I had the privilege of influencing issues close to my heart, both as a Knesset member and as deputy public security minister,” Segalovitz said. “I would like to thank Yair Lapid, the members of Knesset, and the party’s activists for their partnership, trust, and joint work on behalf of the State of Israel.”

He wished Yesh Atid and the B’Yachad party “great success, and hope they continue working with determination on behalf of the citizens of the State of Israel.”

Israeli media has previously reported that Segalovitz is considering joining Ra’am (United Arab List), headed by Mansour Abbas.

Lapid praises Segalovitz following departure

MK Yair Lapid, following the announcement, praised Segalovitz’s “integrity and professionalism” during his years of serving Israel as part of Yesh Atid.

MK Yair Lapid speaks during a vote at the plenum hall of the Knesset, the Israeli parliament in Jerusalem, on July 16, 2026.  (credit: YONATAN SINDEL/FLASH 90)

“Throughout his years of service in Yesh Atid, in the Knesset, and as deputy public security minister, he acted with integrity and professionalism on behalf of Israel’s citizens and to uphold the rule of law,” he said.

“During the ‘government of change,’ we worked together to combat crime in Israel, and I thank him for that,” Lapid added. “I thank Yoav for his contribution to Yesh Atid and the State of Israel, and wish him success in his future endeavors.”

This post was originally published on here. 

A bomb planted in a minibus killed two people and wounded 14 others on the outskirts of Syria’s capital Damascus on Thursday night, officials said.

The blast occurred in the predominantly Druze area of Jaramana, outside Damascus. A security source told the state-run Ekhbariya TV that the blast was caused by an explosive device planted on the vehicle, citing preliminary information.

Footage from the scene showed the blown-up husk of a white minibus being dragged away from the site of the blast.

Jaramana resident Samer Abbas was meters away in his clothing store when the explosion went off. A piece of shrapnel hit the storefront.

“It was a strong unnatural sound,” he told Reuters in an interview.

Rescuers and onlookers inspect the wreckage of a minibus at the site of a blast near Damascus August 6, 2026.  (credit: LOUAI BESHARA / AFP via Getty Images)

His son, who had been sitting outside, was the first thing that came to Abbas’ mind. Fearing the worst, Abbas said he could not rest until he confirmed his son was safe.

“My blood dried up until I checked up on him, I saw him … until I heard his voice,” he said.

Druze have been targeted since Syrian revolution 

Over at the Mujtahid Hospital in Damascus, Bassel Imad said the bombing was “sadistic.” His cousin Safouh was driving the vehicle that exploded and lay injured.

The targeted street in Jaramana is somewhat narrow and includes shops and street vendors, Imad said, as people clamored around him.

“What happened was very wicked,” he added.

Factions within Syria’s Druze community have clashed with the country’s new Islamist leadership. A UN investigation in March found more than 1,700 people, most of them civilian members of the Druze religious sect and some members of the Bedouin community, were killed in the southern Sweida province in July 2025.

It said Syrian government forces, tribal fighters and Druze armed groups may ​have committed war crimes.

This post was originally published on here. 

Blend Labs on Thursday reported higher second-quarter revenue and a narrower operating loss, driven by growth in its software platform business as the digital mortgage technology provider expanded customer relationships and rolled out its new AI-powered Autopilot product.

The San Francisco-based company posted second-quarter revenue of $33.8 million, up 7% from a year earlier and higher than its Q1 2026 figure of $30.8 million. Software platform revenue increased 7% to $31.4 million, while professional services revenue rose to $2.4 million, up from $2.2 million.

Blend reported a GAAP operating loss of $1.6 million, improving from a $4.8 million loss in the second quarter of 2025. Non-GAAP operating income increased to $7 million from $4.6 million a year earlier, while the company’s non-GAAP gross margin improved to 78% from 76%. It ended the quarter with $44.9 million in cash, cash equivalents and marketable securities with no debt.

“We delivered the quarter we aimed for — revenue near the high end, profitability above the high end and a strategic return of capital through our share buyback,” said Jason Ream, Blend’s head of finance and administration.

Autopilot, Blend 3.0 impacts

Blend’s GAAP diluted net loss from continuing operations attributable to common stockholders remained unchanged at 3 cents per share from a year earlier. On a non-GAAP basis, diluted net income from continuing operations was break-even, unchanged from the second quarter of 2025.

Nima Ghamsari, the co-founder and head of Blend, characterized the quarter as a “disciplined, profitable” one. He started the earnings call by showcasing data points regarding Autopilot and Blend 3.0, described as “the agents we are building inside Blend to help us do our work to serve our customers faster, better and cheaper.”

“Blend 3.0 is an agentic-first company, and that doesn’t mean just for our products. That also means how we work internally,” he said. Ghamsari told investors that the engineering team’s throughput has increased 3.6x since January with roughly the same headcount, as agents take a first pass on work such as code changes.

“If we continue at this pace, we could be doing 10 times as much throughput on the engineering team by the end of this year as what we did at the end of last year,” he said.

Regarding relationships, the company said it added or expanded 14 customer contracts during the quarter, including six deals involving its Autopilot platform, which became commercially available on July 1. Blend also repurchased 11 million shares for $18.2 million during the quarter, leaving $13.2 million available under its existing share repurchase authorization at quarter’s end.

“We delivered Q2 with revenue near the high end and non-GAAP operating income above the high end of our guidance, and we did it in a market that isn’t giving us much help,” Ghamsari said in a statement. 

Weathering the rate environment

Ghamsari said during the call that six lenders have already signed on to use Autopilot as of July 1, including Onity Mortgage Corp. He estimated that on a per-loan basis, Autopilot is automating an average of four and a half hours of fulfillment tasks.

“We’re starting to see evidence [that] Autopilot is driving faster clearance times, higher conversion rates, and potentially reducing fulfillment costs,” he said. “Based on our preliminary data of these loans that have gone through our system, our customers are seeing a 10% to 15% improvement in pull-through rates and two to four days of cycle-time improvement.”

Looking ahead, Blend forecasts third-quarter revenue of $31.5 million to $33.5 million, with non-GAAP operating income ranging from $3.5 million to $4.5 million.

As for the fourth quarter, Blend is taking a more conservative view on total mortgage volumes, citing skepticism about refinance growth in a “higher for longer” rate environment. The company expects Q4 market volumes to drop about 11% year over year at the midpoint and for Blend’s funded loan volumes to be down 10% to 15%, subject to change due to the fluid macro environment, Ream said.

This post was originally published on here. 

It’s so interesting to me how these socialists who are taking over the Democratic party, are hiding behind the veil of affordability. They don’t want to tell you that their agenda is all about unaffordability, or in short wrecking the whole economy. 

Think of this, they will tax all manner of wealth and income. Indeed, take candidate Abdul El-Sayed and Mayor Zohran Mamdani, who basically want to liquidate any of your gains from successful wealth and work. And they say it all the time. In fact, Mr. Mamdani just yesterday talked about how in New York City apartments, it’s the people who live there who own it, not the owners who own it — that by the way is communism.

And then there’s the Medicare for All idea which is nothing but a euphemism, not simply for the takeover of the healthcare system, but basically for an economy-wide takeover. They want the government to run the economy. Period. Full stop.

Of course they want to defund the police and ICE, and they want open borders, and rampant illegal immigration, and then the even nuttier stuff of abolishing the senate, changing presidential elections. The insanity grows the more you listen.

Back to affordability, though. The socialists had a leg up on their program during the Biden years. Don’t forget the Green New Deal, and the phony Inflation Reduction Act, and Covid spending long after Covid was gone. Their giant spending bills and their attempted regulation of the economy, led to a 9 percent inflation peek, the highest in four years. And overall, the consumer price index cumulatively rose by 21.4 percent. Okay.

So Messrs. El-Sayed and Mamdani and Senators Bernie Sanders and Elizabeth Warren and Congresswoman Alexandria Ocasio-Cortez, they had their chance. They got about half the socialism during the Biden years that they would ever do if they won a national election, and look what they did. Is that affordability? Remember, 21 percent inflation. Real wages fell during their period, actually fell. That’s not affordability. So there’s a lesson to be learned here. 

Their affordability mantra is a coverup for a state-run economy and soaring inflation, which is by the way according to polls, working folks including average minority working folks are not voting for them. They went for Trump in 2024.

So that’s a lesson for the GOP. Hone in on the differences between free enterprise capitalism, which rewards success, and puts more money in your pocket, letting you keep more of what you earn, and that is real affordability. 

By contrast, this new Democratic Party socialism will take money out of your pocket, will lead to rapid inflation from the government’s takeover of the economy, will rob you of your success, and devalue the human dignity of work, enterprise, and initiative.

Think of it this way, socialism is a discouragement to the individual, the economy, and the nation. And antisemitism is perhaps the driving force behind the entire socialist movement. Free market capitalism is an encouragement to the individual, the economy, and the nation. Those are the differences in affordability. Democratic party socialism is unaffordable. And free market capitalism is surely worth fighting for.

This post was originally published here. 

Kentucky-based Louisville Ladder is recalling roughly 1.77 million attic stairway ladders after receiving reports that bolts can break while the products are being used, creating a potentially deadly fall hazard.

The recall involves certain Louisville, Featherlite, Lite and Century attic stairway ladders equipped with gas struts, according to a notice issued Thursday by the U.S. Consumer Product Safety Commission (CPSC).

“The bolts on the attic stairway ladders can break while in use, posing a risk of serious injury or death from fall hazard,” the CPSC said.

RECALL ISSUED FOR DOG AND HORSE MEDICATION AFTER FIBERGLASS FOUND IN VIALS

The company has received 11 reports of bolts breaking. One incident resulted in injuries to a consumer’s neck, head and back, according to the agency.

The affected aluminum- and wood-frame ladders include handrails and fold into attic openings. They were sold in several frame sizes, including widths of 22.5, 25.5 and 30 inches and lengths of 54 and 60 inches.

The ladders were designed for ceiling heights ranging from 7 feet, 8 inches to 12 feet, the CPSC noted.

POPULAR WALMART NUT BUTTER RECALLED AFTER TESTING DETECTS SALMONELLA

Consumers can find the brand name and model number on the inside of the attic door.

The ladders were sold at Home Depot, Lowe’s, Do It Best, Orgill and other retailers nationwide, as well as on Amazon, from November 2012 through July 2026, according to the notice.

Prices ranged from approximately $170 to $600.

An additional 13,054 ladders were sold in Canada.

TARGET, KROGER, MEIJER FRUIT PURÉE POUCHES RECALLED OVER PLASTIC RISK: FDA

Consumers are being urged to stop using the recalled ladders immediately and register for a free repair kit. 

CLICK HERE TO GET FOX BUSINESS ON THE GO

For more information about the recalled products, visit the CPSC’s website.

Louisville Ladder could not immediately be reached by FOX Business for comment.

This post was originally published here. 

The country’s largest mortgage lender lost roughly 40% of its market value in a single session Thursday after telling shareholders it is cutting off their dividend checks and taking in $2.05 billion from outside investors to shore up its balance sheet. Shares of UWM Holdings, the parent of Pontiac, Michigan-based United Wholesale Mortgage, plunged after the company suspended its quarterly dividend to preserve capital and announced the equity investment from Oaktree Capital Management and SFS Group Capital, a newly formed vehicle owned by the family of Chief Executive Mat Ishbia — the same family that owns the NBA’s Phoenix Suns. At the day’s low the stock was down as much as 49%, the steepest drop in company history.

The trigger was the quarter itself. UWM reported a net loss of $451.9 million for the three months ended June 30, with total loan origination volume of $39.7 billion — flat against a year earlier and down from $44.9 billion in the first quarter. Revenue came in at $888.0 million, and adjusted EBITDA rose to $185.9 million from $160.9 million the prior quarter.

Here is what actually put the company in the red, in plain terms. UWM tried to buy Two Harbors Investment Corp. Ahead of that purchase, it placed a very large financial hedge — essentially an insurance bet designed to protect the value of the deal. The deal fell apart, and the hedge went the wrong way. Ishbia told analysts Thursday that a $603.2 million derivatives loss in the quarter came out of that oversized hedge tied to the failed Two Harbors pursuit, calling it a one-off mistake the company does not expect to repeat. Two Harbors is now on the verge of being bought by CrossCountry Mortgage instead.

That single item swamped an otherwise workable quarter, and it left the balance sheet thinner than management wanted. Total equity fell to roughly $1 billion as of June 30 from $1.6 billion at the end of March, with available liquidity of about $1.3 billion.

Hence the capital raise. The $2.05 billion arrives as preferred equity with warrants, alongside a $400 million rights offering, and the proceeds are earmarked for fortifying the balance sheet — repaying existing debt, paying down financing facilities tied to mortgage servicing rights, and general corporate purposes. Mortgage servicing rights are the contracts that entitle a lender to collect and process a homeowner’s monthly payments; they are valuable assets, but they are typically financed with borrowed money, and that borrowing is what UWM is now working to reduce.

Oaktree gets a seat on the board and the right to nominate one additional independent director. J.P. Morgan Securities advised UWM on the transaction, and Wells Fargo Securities advised Oaktree.

Ishbia framed the moves as going on offense rather than playing defense, saying the company is acting decisively to come out stronger and more liquid, and describing Oaktree as a partner that understands the servicing side of the business. He also told staff that spending on brokers, technology, artificial intelligence, product development and in-house servicing will continue.

Investors read it differently. A dividend suspension is the clearest signal a company can send that cash needs to stay in the building, and a rescue-style equity infusion dilutes the shareholders already there. The stock has now fallen roughly 85% from its 52-week high, set in September 2025.

The backdrop matters for anyone in the housing business. UWM expanded rapidly during the pandemic, when lockdowns and rock-bottom interest rates set off a refinancing and buying boom. Rates have not cooperated since. With the Federal Reserve holding its benchmark near 3.6% and several policymakers pushing for an increase rather than a cut, mortgage rates are not coming down on any schedule that would revive volume the way lenders need. UWM’s own numbers tell that story: originations flat year over year, and down quarter to quarter, in what should be the strongest stretch of the home-buying calendar.

For mortgage brokers who route loans through UWM, the practical question is whether the company’s funding stays steady. On that point, the capital raise is the answer management is offering.

JBizNews Desk | Pontiac, Michigan

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

[Editor’s note: This is part 2 of a 3-part HousingWire special series on the impacts of data centers in housing. Part 1 is here.]

In 1998, when Steve Alloy succeeded his father, Martin, as president of Northern Virginia-based Stanley Martin Homes, buying land wisely was, as it is now, both a point of pride and a business necessity.

A cardinal rule of engagement and survival, as any homebuilder competing in the NVR- and Ryan Homes-dominated Mid-Atlantic region knew, was to counterpunch on land acquisition rather than compete head-to-head with the nation’s most efficient and profitable public homebuilder. Being able to “zag” when NVR “zigged” meant getting good at finding residential development locations that NVR land strategists would regard as too “hairy,” too time-consuming, or too fraught with engineering, permitting, or zoning complexities to fit into NVR’s hyper-efficient, asset-light land take-down system.

“We pursue different sites many more times than our national competitors do, just because our strategies are different,” Alloy told HousingWire/TBD. “We see many of them on a variety of sites, but in a lot of places, we would be kind of the go-to home builder on a difficult zoning case.”

For Alloy and his growing team, as part of Japan-based Daiwa House‘s decade-long investment in building a top-tier U.S. homebuilding platform, that “secret sauce” – detecting opportunity where competitors see operational complexity – suddenly took on a completely different dimension in late 2025.

Business partners approached Stanley Martin about a 189-acre tract the builder had painstakingly assembled, engineered and entitled for a 516-home community. The prospective buyer wasn’t another homebuilder. It was Amazon, which wanted to reverse years of residential entitlement work, rezone the property for industrial use, and build a hyperscale data center campus instead. Stanley Martin had invested roughly $51 million in the property. The transaction ultimately generated roughly $700 million.

For Stanley Martin and Daiwa House, it was a once-in-a-career capital allocation windfall.

For the homebuilding industry and the nation’s wider housing ecosystem, however, the deal immediately raised a more unsettling question.

If the world’s largest technology companies are prepared to spend hundreds of millions – even billions – of dollars securing land for artificial intelligence infrastructure, what happens to an industry already struggling to acquire residential land cheaply enough to build homes that American households can afford?

Artificial intelligence has triggered one of the largest capital investment races in modern business history. The Bank for International Settlements estimates hyperscaler capital expenditures alone will exceed $700 billion this year, with aggregate AI infrastructure investment expected to climb into the trillions over the coming years as companies compete to secure computing capacity before their rivals do.

Those investment dollars translate into an unprecedented wave of data center development across the United States.

Local governments are debating zoning ordinances. Electric utilities are racing to expand transmission capacity. Communities are wrestling with questions about water consumption, tax revenues, noise, environmental impacts and electrical reliability. Realtors are beginning to see pricing distortions in neighborhoods located near proposed campuses, themes explored in HousingWire’s earlier Part I analysis.

For homebuilders, though, the issue is different. The question isn’t whether AI infrastructure is reshaping commercial real estate. It’s whether hyperscale developers are poised to become the next structural obstacle to market-rate homeownership affordability.

The answer, at least based on today’s evidence, appears considerably more nuanced than much of the current political rhetoric suggests.

Northern Virginia’s cautionary tale

If there is one housing market where data centers have unquestionably begun changing land economics, it is Northern Virginia.

Chris McGrath, Mid-Atlantic Division President for K. Hovnanian Homes, has watched the competitive landscape morph dramatically over the past several years.

His division operates in the nation’s largest concentration of data centers – an area often referred to as “Data Center Alley,” where estimates suggest roughly 70% of the world’s internet traffic passes through server farms spread across Loudoun, Fairfax and neighboring Virginia counties.

The effects have evolved from hypothetical to starkly real over the past 24 months. According to McGrath, K. Hovnanian has lost multiple residential opportunities after landowners received substantially richer offers from data center developers.

In Spotsylvania County, McGrath says, sellers or brokers went radio silent on preliminary residential negotiations after companies such as Amazon entered the picture seeking sites for future facilities.

In Loudoun County, roughly 700 residential lots effectively disappeared from the housing pipeline after a seller elected to pursue data center rezoning rather than complete negotiations with the builder.

In Fairfax County, McGrath says the approval of a nearby data center also reduced the attractiveness of adjacent residential land, illustrating another way AI infrastructure can reshape development patterns.

“It’s hard to turn around here and not hear of another story of, especially large parcels, going to a data center,” McGrath said.

He doesn’t argue that data centers alone explain Northern Virginia’s dramatic increase in land prices. Land values, he notes, have risen sharply since before COVID for a host of reasons. Still, he has little doubt the AI build-out has added another powerful bidder to an already expensive market.

“Every land seller now thinks that they’re gonna make hundreds of millions of dollars on their [property], because Amazon’s gonna go buy it, right?” McGrath said. “That just complicates every discussion, because every seller thinks that the land is worth a lot. This adds another layer because there are these groups out there who are paying astronomical amounts. The overall effect of that is the parcels that do work for residential housing become much more expensive, and overall it limits supply.”

The experience has forced K. Hovnanian to rethink how it competes for land.

Rather than relying heavily on fully entitled acquisitions, McGrath says the company increasingly pursues raw land directly from farmers, business owners and other landholders, assuming responsibility for entitlement and rezoning itself.

“We’ve countered this by leaning almost exclusively into rezoning and entitlement deals,” McGrath explained. “Instead of looking for deals that are going through the rezoning process with a seller or that are already completely entitled, we’re going out there and sourcing our own deals. We try to find the raw land and meet with the farmer, business owner or building owner. That way, we can control the fate of the project.”

If that strategic pivot rings familiar, it may be because it mirrors the strategy Steve Alloy began refining nearly three decades earlier – creating value through engineering, entitlement expertise and local relationships rather than outbidding better-capitalized competitors for finished residential land.

That parallel also hints at a more sweeping conclusion.

Northern Virginia offers compelling evidence that data centers can materially affect local residential land markets under the right conditions. Whether it represents the future of residential development across America is a different question entirely.

Data center development also competes for everything else

If Northern Virginia demonstrates what happens when residential development collides head-on with hyperscale data center investment, it may also illustrate why the rest of the country is unlikely to follow precisely the same path.

The Stanley Martin transaction was extraordinary because it was, by almost any measure, extraordinary. It involved one of the country’s most sophisticated residential land developers, one of the world’s largest technology companies, one of the nation’s most mature data center markets, and a parcel already carrying years of entitlement work that suddenly became exponentially more valuable for an entirely different use.

Most residential development doesn’t look like that. Nor do most data center projects.

This gets to the central question confronting homebuilders, developers, land investors and policymakers: Is America’s accelerating AI infrastructure build-out becoming the next structural obstacle to producing market-rate housing?

Evidence today suggests a complicated – and, in many respects, less five-alarm-fire-freaking-out – discerning response. The broad-brush reality is that most residential communities and hyperscale data centers are pursuing fundamentally different real estate.

Homebuilders’ trade group sees a growing concern

The National Association of Home Builders has become increasingly vocal about what it views as an emerging conflict between America’s need for more housing and the explosive demand for AI infrastructure.

NAHB argues that data center developers, backed by the financial resources of the world’s largest technology companies, can outbid residential builders for strategically located land while simultaneously competing for construction labor, utility capacity and local infrastructure. The organization has warned that the trend could make it more difficult – and more expensive – to bring new housing to market in communities already struggling with affordability.

Those concerns are hardly theoretical in markets such as Northern Virginia, where builders like K. Hovnanian have documented losing residential opportunities to hyperscale developers and where landowners increasingly see data centers as an alternative path to dramatically higher valuations.

At the same time, the question facing builders nationally isn’t whether these pressures exist.

It’s whether they represent a broad new structural shift in residential land economics – or whether they remain concentrated in a relatively small number of markets with unique combinations of power infrastructure, fiber connectivity and hyperscale demand.

Different businesses, different dirt

Ting Qiao occupies a uniquely useful vantage point. As co-founder of Texas homebuilder Wan Bridge and manager of W Land Development, Qiao has experience acquiring and developing sites for both residential communities and data centers.

Rather than seeing the two uses routinely competing for the same land, he sees two businesses with fundamentally different site-selection criteria.

Housing succeeds where families want to live – close to employment, schools, transportation corridors, retail amenities and community services. Data centers do best where electricity, fiber connectivity, environmental buffers and massive tracts of land intersect.

“Based on our development experience, these two product types generally have limited site overlap because their land, infrastructure, electrical and environmental requirements are fundamentally different,” Qiao said.

That observation echoes what Anita Verma-Lallian sees every day in Arizona.

As founder and CEO of Arizona Land Consulting, Verma-Lallian specializes in acquiring and assembling sites for large-scale data center campuses. Last year, her firm partnered with billionaire investor Chamath Palihapitiya to acquire approximately 2,100 acres west of Phoenix for what could eventually become a $25 billion AI infrastructure development.

She says the industry’s rapid evolution is actually pushing many projects farther away from traditional residential growth corridors.

Artificial intelligence requires facilities dramatically larger than earlier generations of cloud computing infrastructure. Increasingly, developers are pursuing campuses capable of supporting more than one gigawatt of electrical capacity.

Those requirements reshape the search process.

“Ideally you don’t want data centers where residential development could go, just because that means you’re probably in a more densely located area,” Verma-Lallian said. “So we’re being intentional about putting our data centers far away from development in areas that are a little bit more industrial, where you’re not impacting residents and neighbors.”

Increasingly, success isn’t determined by proximity to rooftops but by proximity to power. That’s why the current public conversation risks conflating two very different land markets.

Residential land continues to derive its value primarily from housing demand. Data center land is increasingly being valued according to something entirely different. Electrical capacity.

“You have all these tech companies that are being forced to build data centers, so there is quite a bit of capital behind that demand,” Verma-Lallian said. “If you have land with power, it’s really unlimited what you could sell that for, because there’s such a big need for it.”

Unlike traditional real estate transactions priced by acreage, some data center sites are now being valued according to the amount of electrical capacity they can deliver.

“The pricing you’re seeing on land with power, it’s just something that we’ve never seen before,” she said.

That does not necessarily translate into higher prices for conventional residential development parcels.

Instead, it creates a premium market for a relatively small universe of sites possessing characteristics most residential builders neither need nor necessarily want.

The affordability equation hasn’t changed

None of that minimizes the challenges builders face. If anything, it sharpens where those challenges actually lie. The homebuilding industry entered the AI era already confronting a structural affordability problem.

Mortgage rates remain elevated. Household budgets remain stretched. The refrain among so many of the homebuilding business leaders right now is, “We’re buying our sales.”

Builders across virtually every product category continue searching for ways to reduce asking prices while protecting margins. Doing that almost inevitably requires reducing land basis, shortening cycle times, improving operational efficiency and extracting cost throughout the production process.

Those economic realities existed before hyperscalers began their AI infrastructure arms race.

They remain the industry’s defining challenge today.

That’s one reason John Burns Research & Consulting Senior Research Analyst Dillan Krieg urges caution before drawing broad conclusions from a handful of high-profile transactions.

While the firm’s research shows residential parcels being converted to data center uses in markets such as metropolitan Washington, Chicago, Indianapolis, Dallas, Austin and San Antonio, Krieg says there is not yet evidence demonstrating that data center development broadly is driving residential land appreciation.

Regional housing markets continue to behave primarily according to their own supply-and-demand fundamentals.

Indeed, Burns researchers found little evidence of similar residential conversions across California or the Pacific Northwest, where entitlement constraints already make residential land exceptionally scarce and valuable.

Residential land markets remain, first and foremost, residential land markets, and in the current uncertainty-dominated environment, many homebuilders’ outlook and appetite for land is “flat to down.”

Where builders may feel AI’s impact

That doesn’t mean the AI infrastructure boom will leave homebuilding unscathed. Quite the opposite.

It simply means the most significant impacts may emerge somewhere other than the land acquisition department. Dallas-area builder Bloomfield Homes provides one example.

Chief Executive Officer Don Dykstra says Bloomfield has not found itself routinely bidding against data center developers for residential property.

Instead, he sees the competition emerging through shared infrastructure.

In one instance, a municipality allocated significant sewer capacity to a data center project, forcing Bloomfield to redesign a nearby residential development around septic systems instead. More broadly, Dykstra acknowledges that data centers consume enormous quantities of water, sewer capacity and electricity, even if those impacts have not yet materially affected demand for his communities.

That observation may prove more consequential over the next decade than individual land transactions.

  • Utilities.
  • Electrical substations.
  • Transmission lines.
  • Water infrastructure.
  • Wastewater treatment.
  • Heavy civil contractors.
  • Electrical subcontractors.
  • Mechanical trades.
  • Concrete crews.

These are resource pools shared by both industries.

Competition there may ultimately prove more significant than competition for dirt.

A familiar challenge in unfamiliar form

There is another reason homebuilders can and should resist viewing hyperscale developers as an existential new adversary. Competition for capitalized land is hardly new.

For decades, builders have adapted to changing competitive landscapes created by regional developers, master-planned community operators, Wall Street-backed land funds, institutional single-family rental investors and increasingly concentrated public homebuilders pursuing market share.

Each wave has altered land values in certain markets. None has fundamentally rewritten the economics of homebuilding. Data centers are likely to become another variable in that equation rather than its defining feature.

The industry’s long-term competitive advantage will continue to rest where it always has: identifying opportunities others overlook, navigating increasingly difficult entitlement environments, engineering value into complex sites and maintaining a land basis that allows homes to reach buyers who can actually afford them.

Steve Alloy’s $700 million transaction wasn’t ultimately a story about AI. It was a story about residential land expertise. Stanley Martin spent years creating value through entitlement, engineering, local relationships and patient capital before a hyperscaler ever appeared.

Amazon merely revealed how much value that work had created. For most homebuilders, that’s probably the lesson. Artificial intelligence may permanently reshape commercial real estate, infrastructure investment and regional economic development.

But the residential development and homebuilding industry’s biggest affordability challenge remains what it has been all along: finding, creating and delivering residential land at a cost that makes the next new home attainable for the next American household.

HousingWire’s Tyler Williams contributed to this report.

This post was originally published on here. 

Rocket Companies reported high second-quarter earnings on Thursday, driven by increased mortgage origination volume, servicing income and record market share gains in both purchase and refinance lending, even as the broader housing market remained challenging.

The Detroit-based lender reported Q2 2026 net revenue of $2.78 billion, nearly double its $1.45 billion figure from the same period last year and landing in the middle of its Q1 2026 adjusted revenue forecast of $2.7 billion to $2.9 billion.

GAAP net income rose to $229 million, up from $34 million in the prior-year quarter, while adjusted net income increased to $441 million from $75 million. Adjusted EBITDA climbed to $766 million from $172 million.

“The second quarter tested the housing industry; higher rates reduced affordability, demand softened, the spring market fell well short of expectations,” CEO Varun Krishna said during the company’s Thursday afternoon earnings call. “But against that backdrop, Rocket reached record market share in both purchase and refinance … and continued executing ahead of plan. Those results reinforce what we’ve been building for years.”

Chief financial officer Brian Brown added: “Adjusted diluted EPS was 16 cents, up from 15 cents in the first quarter, making this our most profitable quarter in four years.”

The quarter also marked a change in Rocket’s financial reporting. Beginning in Q2 2026, the company consolidated its operations into a single mortgage reporting segment, which includes its origination, servicing, title, closing and appraisal businesses.

Prior-period results were recast to reflect the new reporting structure and allow for year-over-year comparisons, the company said.

The company generated $47 billion in net rate-lock volume during the quarter and $49.1 billion in closed mortgage origination volume, while its gain-on-sale margin was 2.48%.

Excluding correspondent lending, Rocket originated $39.2 billion in closed mortgages. The company ended the quarter with $11.2 billion in total liquidity and a servicing portfolio of $2 trillion across 9.1 million loans.

“Our loan officers are serving nearly 40% more clients while delivering double-digit improvements in conversion at the same time,” Krishna said. “Those gains really matter today, and they matter even more as the market recovers.”

Rocket also sold $53 billion in mortgage servicing rights during the quarter, generating $795 million in proceeds while retaining subservicing and recapture rights on nearly 80% of the loans.

“Today, Rocket is both the nation’s largest mortgage servicer and the nation’s largest mortgage lender. Very few companies have both,” Krishna added.

Other highlights, looking ahead

Krishna said during the call that Rocket’s purchase market share increased to 6.2%, up from 5.5% at the end of 2025, while its refinance market share rose to 14.3% from 12.2%.

The company also completed the integration of its servicing platform following its acquisition of Mr. Cooper, saying legacy Mr. Cooper recapture rates reached another record during the quarter.

The company cited continued investments in artificial intelligence, saying loan officers using its AI-powered pipeline management tools are handling nearly 40% more clients than a year ago. Rocket also said its AI Voice platform processed more than 1 million inbound servicing calls within three months of launch, with more than half of those calls resolved without assistance from servicing employees.

The company also highlighted growth in its home equity business, saying it became the nation’s largest home equity lender and has helped more than 250,000 homeowners access $24 billion-plus in equity since introducing the product in 2022. Krishna told investors during the call that Rocket is the first independent mortgage company to lead the category.

Meanwhile, Redfin, which Rocket acquired in 2025, doubled its mortgage leads year over year in June and reached record mortgage attachment rates after expanding joint offerings between the two companies.

“In June, mortgage leads from Redfin more than doubled year over year. The mortgage attach rate with Redfin agents reached 47%, approaching our synergy target of 50%,” Krishna said.

The company also provided an update on its monthly Rocket Pro “Power Play” initiative, announced on the first Tuesday of each month. Recent enhancements include same-day conditional approvals, a 12-business-day clear-to-close commitment on eligible purchase loans, and continued Compass pricing incentives.

Since the Compass partnership launched, Rocket Pro brokers have generated more than $2 billion in net rate-lock volume.

Looking ahead, Rocket forecast adjusted revenue between $2.5 billion and $2.7 billion for the third quarter. Brown said that he expects Q3 to be “smaller than the second, something the industry has not seen since 2022,” citing tough market conditions such as rates above 6.8% and higher inflation expectations.

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The Federal Communications Commission voted Thursday to eliminate the rule that prevented any one television-station owner from reaching more than 39% of U.S. television households, removing a restriction that for decades shaped how large broadcast companies could grow.

The 2-1 decision matters because the cap was not simply a regulatory percentage. It directly influenced dealmaking.

A broadcaster that approached the 39% threshold could still buy additional stations, but often only by selling other properties, restructuring ownership or relying on regulatory exemptions. That limited how aggressively companies could assemble national station portfolios even when the economics of a transaction otherwise worked.

Removing the cap changes that calculation. Broadcasters can now think about scale nationally without automatically running into a federal ownership ceiling.

The FCC said the restriction no longer reflects the competitive environment facing local television stations. Traditional broadcasters now compete for viewers and advertising against streaming services, social-media platforms, digital video companies and technology firms that were never subject to the same ownership limits.

That shift has steadily weakened the commercial logic behind treating local television as an isolated market. A station group with greater national reach can spread programming, technology, advertising sales and administrative costs across more markets, potentially making each station more profitable.

It can also make station portfolios more valuable.

For an acquirer, the ability to buy a large group of stations without immediately divesting assets can increase the strategic value of both individual stations and entire broadcasting companies. Larger groups may also have more leverage when negotiating advertising, retransmission fees and programming contracts.

The decision arrives as consolidation is already reshaping local television. Nexstar’s acquisition of Tegna demonstrated how valuable national scale has become in a business where local stations increasingly need size to compete with much larger digital platforms.

There is still a legal question hanging over the FCC’s move. Democratic Commissioner Anna Gomez argued that Congress, not the commission, has authority over the national ownership threshold. That could leave the rule vulnerable to court challenges or future congressional action.

For now, however, the commercial message is clear.

A regulatory ceiling that once determined how large a U.S. television-station group could become has effectively disappeared, potentially setting up a new round of broadcast mergers and acquisitions.

For station owners, private-equity firms and media companies, the change could mean more buyers, larger deals and higher strategic valuations for local television assets.

JBizNews Desk | Washington

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Job cuts slowed in July as companies stepped up their hiring plans, while artificial intelligence (AI) continues to be cited as a leading reason for workforce reductions, new data shows.

Companies announced 33,429 job cuts in July – a decrease of 27% from the 45,849 announced in June, and a level that’s down 46% from the 62,075 cuts planned in the same month last year, according to data from Challenger, Gray & Christmas.

The total of 33,429 layoffs announced last month is the lowest monthly total in two years since July 2024, when there were 25,885 cuts announced, the firm noted. It’s also the fifth time this year the monthly job cut figures were lower than the corresponding month a year ago.

So far in 2026, employers have announced 477,033 job cuts through July, which comes as a 41% decline from the 806,383 cuts announced in the first seven months of 2025.

PRIVATE SECTOR ADDED 44,000 JOBS IN JULY, BELOW EXPECTATIONS, ADP SAYS

“The pace of layoffs fell dramatically this summer. Layoff plans continue to be announced primarily in tech, and artificial intelligence is still the story, as investments in the technology reshape organizations,” said Andy Challenger, workplace expert and chief revenue officer for Challenger, Gray & Christmas.

“Hiring has also increased over last year by 25%, so while AI is shifting the labor market, it is not dismantling it,” Challenger added.

The tech sector announced 9,867 job cuts in July to bring the industry’s total for this year to 149,023 – a figure that’s a 67% increase from the same period last year.

Layoffs in the tech sector account for 31% of all job cuts announced this year, and Challenger noted that tech “remains the center of gravity for this year’s cuts, and AI is still the reason companies give.”

THE COLLEGES THAT GIVE GRADUATES THE STRONGEST CAREER EDGE, ACCORDING TO LINKEDIN

Financial firms accounted for 3,157 cuts in July, ranking second among industries, which brought the sector’s total for the year to 18,626 – down 31% from a year ago.

Government agencies announced 2,962 cuts in July, bringing the total for the year to 20,752. That figure is 93% lower than last year, when the 292,294 cuts through July were largely driven by federal workforce reductions.

Across industries, AI was the dominant reason cited by employers for workforce reductions, as it was attributed to 10,970 cuts announced in July, or 33% of the total.

July was the fifth consecutive month in which AI was the top reason cited for layoffs, and so far this year it has been cited in 112,713 job cut announcements, accounting for about 24% of all cuts. Since the firm first started tracking AI as a distinct reason for workforce reductions, Challenger, Gray & Christmas has tracked AI as being the reason cited in 184,538 job cuts.

VISA SLASHES THOUSANDS OF JOBS IN EFFICIENCY PUSH

Challenger’s report noted that there remains ambiguity about what constitutes an AI-related cut, with some employers explicitly citing that as a reason, whereas others may point to new technology deployments and allude to AI indirectly without being linked to the cuts, which is why the firm tracks those announcements with a separate category.

“Naming AI in a layoff announcement can win over investors while pushing current and prospective employees away. That’s why the messaging has swung from hedging to aggressively citing it,” Challenger said.

“As regulations start to take shape, companies will be even more careful in their announcements, which would make tracking the impact of AI on jobs more opaque,” he added.

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WASHINGTON—President Donald Trump signed an executive order on Aug. 6 establishing a price floor and tariffs on polysilicon and related products to protect U.S. companies from increasing competition from China in artificial intelligence and energy.
Polysilicon (polycrystalline silicon), a highly purified form of silicon, serves as a critical raw material for both semiconductors and solar manufacturing.
“We’re bringing the chips back into the United States in a very big way,” Trump told reporters in the Oval Office following the signing of the executive order.
In July 2025, the U.S. Department of Commerce launched a Section 232 national security investigation into imports of polysilicon and its derivatives. The investigation aimed to determine whether the imports of these goods pose a threat to U.S. national security….

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Krispy Kreme is shrinking on purpose, and Thursday’s results showed what that buys. The doughnut chain reported second-quarter revenue down 12.8% as it handed stores to franchisees and closed underperforming locations, while narrowing its net loss to $20.3 million from $435.3 million a year earlier. Systemwide sales came in at $497.3 million, up 1.1% in constant currency and 2.6% excluding the now-ended McDonald’s partnership. Adjusted earnings before interest, taxes, depreciation and amortization rose more than 43% to $28.8 million, and capital spending is down 70% for the first half of the year.

The strategy in plain terms: Krispy Kreme is selling company-owned operations to franchise partners and collecting royalties instead of running the shops itself. That immediately cuts reported revenue, because a franchisee’s sales no longer flow through Krispy Kreme’s books — only the fee does. What it adds is margin and cash, and cash is what pays down debt. A shrinking top line here is the plan working, not failing.

Chief Executive Josh Charlesworth said the quarter showed continued progress on strengthening the balance sheet, reducing leverage and building profitable growth, and the company kept its previously issued guidance for systemwide sales growth of 2% to 4%. Krispy Kreme also maintained its full-year outlook of $1.25 billion to $1.35 billion in net revenue and adjusted EBITDA of $140 million to $150 million.

The year-ago comparison needs context. The $435 million loss in the second quarter of 2025 was almost entirely non-cash, driven by roughly $407 million in goodwill and asset impairment charges booked when the company wrote down the value of its own business. Strip that out and the improvement is real but less dramatic than the headline numbers suggest — the operating story is the margin gain and the capital spending cut, not the loss line.

The turnaround plan itself was announced in August 2025 and rests on four pieces: refranchising international markets and restructuring the Western U.S. joint venture, cutting capital intensity by leaning on franchisee development, expanding margins through operational changes including outsourced U.S. logistics, and pursuing only revenue streams that actually make money.

During the quarter the company refranchised its Japan business and signed a joint venture with franchisee WKS Restaurant Group, taking its stake to 80%. Fifty-nine shops have opened worldwide since January 1, nearly all of them franchised, and Krispy Kreme has signed agreements to enter the Netherlands, Estonia and Mauritius.

That shift has moved fast. Krispy Kreme entered 2026 with roughly 25% of systemwide sales coming from franchisees; after the Japan and Western U.S. deals, the figure reached about 42%, against a 50% target.

The retreat that started all this was the McDonald’s rollout. Krispy Kreme had been placing doughnuts in McDonald’s restaurants nationwide, a deal that promised enormous volume and delivered thin profits. Charlesworth has described pulling operating expenses tied to that expansion out of the business quickly, along with halting delivery to 1,400 locations that were not profitable, and has said the company’s posture for this year is deliberately unexciting — steady earnings improvement and positive cash flow to reassure lenders while debt comes down.

Demand for the product has held up better than the financial engineering might suggest. Digital accounted for 23% of U.S. retail sales in the first quarter, backed by a loyalty program with more than 17 million members, and management has said the spread of weight-loss medications has had limited effect so far, attributing that to the doughnut’s role as an occasional shared treat rather than a daily habit.

For franchise operators and suppliers, the practical read is that Charlotte-based Krispy Kreme is prioritizing balance-sheet repair over expansion for now, with franchise partners carrying the growth. The company has signaled that 2027 is when it expects to move past the turnaround framing and back to a growth plan.

JBizNews Desk | Charlotte, North Carolina

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New York City’s regulated affordable housing sector is confronting a worsening financial squeeze, and a reckoning is coming unless solutions emerge, according to a new survey of owners, managers, lenders and other industry participants.

The survey by affordable housing nonprofit NYC Housing Partnership found that 62% of respondents said operating costs have risen to unsustainable levels. None reported improved financial conditions.

“There is general agreement across various parts of the affordable housing industry – whether it’s city and state governments, the not-for-profit sector, the for-profit sector – that do-nothing is not an option here,” Molly Wasow Park, NYC Housing Partnership‘s president and CEO, said in an interview with HousingWire TBD.

The survey results dovetail with landlords suing the city over a rent freeze the Rent Guidelines Board approved June 25. Mayor Zohran Mamdani scored a win on a key campaign promise. But landlords sued, and the city faces an August 14 deadline to respond.

Though not directly connected, the survey, conducted June 18-26, backs a key landlord argument: that the board did not accurately factor in rising costs.

Taxes, water charges, insurance and utilities are much higher now, Deborah Riegel, an attorney with Rosenberg & Estis and co-counsel on the lawsuit, told HousingWire TBD.

“We’re still in an inflationary cycle,” Riegel said. “If your income doesn’t meet your expenses, you’ve got a problem.”

Rising cost pressures

Insurance was the top cost driver, cited by 95% of respondents, followed by utilities, maintenance and repairs and labor.

“This is a cross-cutting issue, not just affecting smaller developers or newer developers or not-for-profits, but really some of the biggest private-sector affordable housing owners in New York are really feeling the pinch,” Wasow Park said. “What you have is costs rising faster than rents, rising faster than tenant incomes, and that combination has created what’s really a perfect storm.”

The survey drew 57 qualifying responses from owners, developers, property managers, lenders, investors and public agencies in the regulated affordable housing sector. More than half of respondents represented portfolios of at least 1,000 units.

Financial distress was widespread among respondents. Sixty-one percent said their portfolio’s financial health had deteriorated over the prior six months, while none reported improvement. In addition, 81% said at least 10% of their portfolio was financially stressed, and 39% said more than one-quarter faced financial stress.

Economic distress

Rent collection, rather than physical occupancy, emerged as a central concern. While 57% of respondents reported physical occupancy above 95%, only 5% said they collected more than 95% of gross potential rent. Nearly half reported economic occupancy – – rent actually collected – below 90%.

“People are having a very hard time collecting rent, and I really believe that the reason rent collection is suffering is that resident incomes are also struggling,” Wasow Park said. “That is particularly in lower-wage jobs, the kinds of jobs that many people in affordable housing hold. Wages have stagnated or even fallen.”

She said the dynamic complicates the political debate over rent increases, with landlords and tenants alike struggling.

“The direction that we need to go is not continuing to pit landlords against tenants but really look for ways that we can support both the owners of the properties and the people who live in them,” Wasow Park said.

Respondents identified rental subsidies at scale, insurance-market solutions, tenant-arrears assistance and debt restructuring or recapitalization tools as the most helpful interventions.

From the landlord perspective, 74% anticipated needing to recapitalize at least one property within three years. Separately, 77% said they worried residents could not afford the rent increases needed to sustain building operations.

“We are working closely with government,” Wasow Park said. “I’m confident that we’re starting to see the urgency of the issue, and that we will have something that is very much not a do-nothing response.”

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HousingWire reports on the quarterly earnings of publicly traded mortgage, real estate and homebuilder companies, offering a glimpse into the financial performance of key players in the housing market. As earnings results start to be released for the second quarter of 2026, here’s a rundown of what’s happening at the major lenders, brokerages, builders, listing portals and title firms.

Mortgage

Q2 2026 earnings

Real estate

Q2 2026 earnings

Homebuilding

Q2 2026 earnings

Past reports

Mortgage

Real estate

Homebuilding

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Housing affordability remains a concern for would-be homebuyers as the income needed to afford a typical U.S. home remains near historic highs and well above what most American households earn, though there are signs of improvement from a year ago.

Home prices surged in 2022 and 2023 amid strong demand coming out of the pandemic, while mortgage rates also doubled due to interest rates rising to counteract the surge in inflation.

A new report by Redfin found that the income needed to afford to buy the typical home on the market is $109,796 as of June – a decrease of 0.5% from the all-time high of $110,382 that was reached last year.

A year ago, the typical American household’s income was $26,125 below what was needed to afford a median-priced home at the time, while two years ago the gap was even larger at $28,834. Redfin attributed the narrowing gap to income growth outpacing the growth in housing costs in the last few years.

While the income needed to afford a home has been declining since October 2025, those decreases have been relatively small and the income needed to afford a home is still $22,197 above the typical household income of $87,599.

A TALE OF TWO HOUSING MARKETS: LUXURY DEMAND SURGES AS AFFORDABILITY SQUEEZES STARTER-HOME BUYERS

Compared with last year, the median home sale price was up 2.2% in June, with mortgage rates down slightly into the mid-6% range, while the median household income was up 4% from a year ago.

“The earnings needed to buy a house have stabilized after several years of deterioration, but that doesn’t mean homes are affordable to the average American,” said Redfin senior economist Yingqi Xu.

“There’s still a double-digit gap between what the typical household earns and what they need to comfortably buy a home, leaving many prospective first-time buyers stalled on the sidelines. But even if the market isn’t becoming much more affordable, it is becoming a bit more manageable for house hunters,” Xu explained.

CASH-STRAPPED HOAS RAMP UP FORECLOSURES AGAINST DELINQUENT HOMEOWNERS: REPORT

The share of affordable listings on the housing market – which Redfin defines as a buyer’s mortgage not consuming more than 30% of their income on their monthly housing payment – rose from 31% last year to 34% in June.

However, the report notes there are still far fewer affordable home listings than there used to be, as prior to the 2022 surge in mortgage rates, over half of U.S. home listings were affordable to the typical American nearly every month in records dating back through 2013.

Redfin found affordability improving in 24 of the 46 metro areas included in its analysis, with Seattle homebuyers seeing the biggest decline as the income needed to afford the median priced home in the city declined 7.4% to $221,831.

THESE AMERICAN CITIES ARE TRENDING TOWARD A BUYER’S MARKET

Other West Coast metros rounded out the top three in terms of largest improvements, with San Jose seeing the second-largest decline of 6.5% to $423,840 in income, and Portland in third with a 4.5% decline to $153,844 when compared with a year ago.

However, that doesn’t mean the median home is more affordable to typical residents in the area, as in San Jose the median income is still at $176,401 – about $250,000 below what’s needed to afford the typical home in that area.

The report found just three metro areas in which the typical household earns more than what’s required to afford the median-priced home – St. Louis, Indianapolis and Pittsburgh.

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U.S. stocks closed lower Thursday as a sharp rebound in oil revived inflation concerns and a wave of disappointing corporate forecasts pushed investors out of software, storage and aerospace shares ahead of Friday’s employment report.

The Dow Jones Industrial Average fell 464.02 points, or 0.85%, to 53,885.10. The S&P 500 declined 13.52 points, or 0.18%, to 7,710.03, while the Nasdaq Composite slipped 15.09 points, or 0.06%, to 26,348.35. The Dow’s decline ended a five-session advance, while the S&P 500 and Nasdaq recovered most of their earlier losses before the closing bell. 

The broad indexes moved only modestly, but the damage beneath the surface was much heavier.

Declining stocks outnumbered advancing shares by 1.57 to 1 on the New York Stock Exchange and 1.38 to 1 on Nasdaq. Trading volume reached 17.09 billion shares, slightly below the 20-session average. The S&P 500 registered 29 new 52-week highs and four new lows, while Nasdaq recorded 131 new highs and 82 new lows. 

Oil became the day’s dominant macroeconomic driver after Iran’s Fars news agency reported that a parliamentary committee was reviewing a preliminary bill that would bar American, Israeli and other designated “hostile” vessels from using the Strait of Hormuz.

West Texas Intermediate crude settled 2.75% higher at $77.29 a barrel, while Brent rose 3.83% to $82.49. The move reversed part of the sharp decline earlier in the week, when investors had begun pricing in progress toward an agreement that could improve shipping through the strait. 

Higher oil prices matter beyond energy markets. They raise transportation and manufacturing costs, reduce household spending power and can keep inflation elevated long enough to delay relief in interest rates.

The bond market reflected that concern. The yield on the 10-year Treasury rose roughly five basis points to 4.67%, while the dollar strengthened against major currencies. Rising yields increased pressure on highly valued growth stocks and reinforced expectations that the Federal Reserve may keep monetary policy tight unless inflation and employment data weaken. 

Earnings Punish Software and Storage Stocks

AppLovin plunged 19.7% after quarterly revenue missed Wall Street expectations. Datadog fell 19% after the cloud-monitoring company projected slower third-quarter revenue growth.

Both companies remained profitable and continued expanding, but investors treated any deceleration as unacceptable after the large valuation gains across software and artificial-intelligence-related stocks. Together, AppLovin and Datadog were among the biggest individual drags on the S&P 500. 

Western Digital dropped 13%, while Sandisk lost 6.8%, after their forecasts failed to match the expectations embedded in their share prices. The declines came despite extraordinary year-to-date gains of roughly 160% for Western Digital and more than 400% for Sandisk. 

The reaction showed how difficult the earnings environment has become for AI-linked suppliers. Strong current results are no longer sufficient when investors have already priced in years of exceptional growth.

Honeywell Aerospace Weighs on the Dow

Honeywell Aerospace suffered one of the market’s steepest declines after cutting its annual sales forecast and issuing profit guidance below analyst expectations.

The newly independent aerospace company now expects 2026 organic sales growth of 4% to 5%, down from its previous forecast of 7% to 9%. It projected adjusted earnings of $7.60 to $7.90 a share, well below the $8.86 analysts expected.

Supply shortages have forced Honeywell Aerospace to prioritize deliveries to Boeing and Airbus over its higher-margin aftermarket business. Shares fell more than 20% after dropping as much as 26% during the session. 

The decline carried unusual weight because aerospace companies have benefited from strong airline demand and large aircraft backlogs. Honeywell’s warning showed that supply-chain constraints can still overwhelm favorable industry conditions.

SpaceX Defies Lockup Concerns

SpaceX rose 6.1%, reversing early losses as the expiration of its first post-IPO lockup period failed to trigger the wave of insider selling some investors had feared.

The expiration made hundreds of millions of shares held by early investors and employees eligible for sale. Instead of collapsing under the additional supply, the stock attracted buyers following its sharp post-earnings decline earlier in the week. 

The rebound did not resolve investor concerns about SpaceX’s enormous capital requirements, but it suggested that demand for the shares remained strong even as more stock became available.

Earnings Remain Strong Overall

The day’s severe individual declines contrasted with a broadly successful earnings season.

Of the 382 S&P 500 companies that had reported through Wednesday morning, 84.8% exceeded analyst profit expectations, according to LSEG. That was well above the long-term average of 68%. 

The market’s weakness therefore did not reflect a broad collapse in corporate profitability. Investors were instead distinguishing sharply between companies that raised expectations and those that warned of slower growth, weaker margins or execution problems.

Labor Data Keeps Friday’s Jobs Report in Focus

Initial unemployment claims increased only slightly last week, while announced layoffs fell to their lowest level in two years.

The figures suggested that the labor market remained stable, but they did little to resolve the larger question facing the Federal Reserve: whether hiring is slowing enough to offset inflation pressure from energy prices and higher business costs.

Friday’s July employment report is therefore positioned to determine the market’s next major move.

A stronger-than-expected payroll number could lift Treasury yields and increase expectations for another rate increase. A weak report could push yields lower but also raise concerns that economic growth is losing momentum.

For businesses, the most favorable outcome would be moderate hiring, contained wage growth and no renewed oil shock. Thursday’s market showed how quickly that balance can be disrupted.

— JBizNews Desk | Wall Street

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Israel’s ambition to become a trillion-dollar economy is usually framed as a question of quantity: more venture capital, more innovation, more unicorns, more infrastructure, and more regional integration. Those goals matter, but they miss the deeper constraint.

Israel does not primarily have an innovation problem. It has an institutional problem. The country is exceptionally good at producing start-ups, but far less effective at financing, retaining, and compounding them into large, durable Israeli companies. It has built an economy optimized for creation, but not for scale or sustainment.

The evidence is increasingly difficult to ignore. Foreign capital is useful, but it is expensive in ways that rarely appear in headline figures. It arrives in dollars, creates conversion and hedging costs, and often comes with a preference for Delaware incorporation. The Israeli company then becomes a research subsidiary, while the intellectual property, taxable profits, and eventual exit sit abroad.

It is also procyclical. Investment fell sharply in 2023 as war began, before technology funding rebounded to $15.6 billion in 2025. Yet while capital returned, many companies did not. The share of new start-ups incorporating in Israel fell from roughly 80% in 2022 to about 55% in 2025. This is not a temporary fundraising problem; it is a migration of ownership.

Startup Nation Central's headquarters in Tel Aviv (credit: Courtesy)

The money required to change this already exists. In 2025, non-residents invested a net $39 billion in Israel while Israeli residents invested a net $56 billion abroad. Institutional assets under management exceed NIS 2.75 trillion, and the public’s financial portfolio is roughly NIS 7.4 trillion. 

Israel has one of the region’s largest pools of long-term savings, yet much of it finances growth elsewhere.

The Innovation Authority’s Yozma 2.0 program directed around $450 million into Israeli venture funds. The instinct is correct, but the scale is not. Against NIS 2.75 trillion under management, a few hundred million dollars is a pilot, not a capital-market strategy. 

When pension savings finance foreign growth while Israeli firms struggle to raise growth capital at home, the problem is not money. It is the architecture through which money moves.

The same distortion appears in Israel’s celebrated exits. The $32 billion acquisition of Wiz by Google and the $25 billion acquisition of CyberArk by Palo Alto Networks are extraordinary achievements. They are also transfers. 

Companies that might have compounded in Israel for decades now compound on foreign balance sheets, while headquarters, listings, tax bases, and senior executive functions migrate with them.

Producing category leaders and then selling them is a sophisticated export business in intellectual property. It is not the same thing as building a trillion-dollar economy. Founders often sell because the domestic path to scale is harder and less certain than the offer in front of them.

That path begins with unnecessary friction. Registering an Israeli company costs thousands of shekels before legal verification. Every company then pays an annual fee, whether or not it has traded, and every limited company must file audited financial statements regardless of size. 

Two founders with no revenue must therefore pay for audits, bookkeeping, and filings merely to hold an idea. Delaware costs a few hundred dollars a year and requires no statutory audit. A founder choosing between the two is not making a political statement. He is reading a price list.

Work over time, not single success

Once the entity is incorporated abroad, the intellectual property, financing, legal work, governance, taxable profits, and eventual exit tend to follow. Israel keeps the payroll but exports ownership and the financial ecosystem around it.

The broader regulatory environment reinforces the pattern. The OECD has described Israel’s administrative and regulatory demands as among the most stringent in the organization, obstructing entry and growth. Barriers remain high in professional services, licensing is slow, and inefficient liquidation makes entrepreneurial failure unusually costly. 

A country that makes failure expensive will receive less risk-taking. That is a tax on ambition.

The financial system is equally dated. Five banks hold roughly 98% of sector assets, with Leumi and Hapoalim controlling about half. Digital banking licenses and proposals for tiered regulation are welcome, but they have yet to generate meaningful competition. Israel has still not experienced the neobanking revolution seen across much of the Western world. 

ONE ZERO has operated for three years but remains a limited domestic challenger, with a weak user experience, a basic interface, and neither the scale nor the product breadth of global platforms such as Revolut. Revolut, despite serving more than 70 million customers worldwide, is still progressing through the Bank of Israel’s excruciating licensing process. 

The fact that a proven global entrant remains outside the market while incumbent banks retain near-total control shows how far Israel remains from genuine banking competition.

Below the banks, the public market is thin. Average daily equity turnover on the Tel Aviv Stock Exchange was about NIS 2.5 billion in 2025. Between a bank loan and a trade sale, Israeli companies lack what mature firms need: deep growth equity, private credit, a credible domestic listing route, and secondary liquidity that allows early shareholders to realize value without selling the company.

This is the part of the American model Israel has never replicated. American firms are not more productive merely because start-ups raise more money. They are more productive because capital remains available throughout the corporate life cycle. 

A new company can raise seed capital, while a mature company can raise billions through equity or debt and reinvest for decades. Productivity is the accumulated result of capital deployed per worker over time, not one successful funding round.

Israel’s funding curve peaks early and then falls away. The venture market is world-class for the first ten million dollars, but thinner above it. The corporate bond market is sizable, yet concentrated in real estate and finance. 

Pension savings enter the system every month, but the instruments needed to channel them into long-term Israeli growth remain underdeveloped. A company that can raise capital only during its first five years will be managed for a five-year outcome.

The reform agenda should therefore focus on one objective: making Israel a place where companies can remain, scale, and compound.

Company registration should be unified online and completed within hours. Registration and annual fees should fall. Lawyer verification should not be mandatory for routine incorporation. Israel should adopt a small-company audit exemption. 

Business licensing should use silence-is-consent rules when regulators miss deadlines, and bankruptcy procedures should allow failed founders to begin again within months rather than years.

Financial reform and next steps

Financial reform matters even more. Bank licensing should become tiered and proportional without weakening supervision, while clearing and payments infrastructure should not be controlled by incumbent banks. 

Yozma should be abolished as a direct government investor. Taxpayers should not fund private businesses; the state should instead use targeted incentives, guarantees, and limited risk-sharing to encourage private investment in venture capital, growth equity, and private credit.

Israel does not lack financial institutions; it lacks institutions primarily oriented toward financing Israeli growth.

Policy should incentivize local investment houses, private-equity firms, lenders, and advisers to deploy more of their capital and expertise into Israeli companies across growth financing, acquisitions, listings, and secondary markets, rather than predominantly serving foreign markets. 

It should also foster a genuine domestic investment-banking industry capable of underwriting Israeli listings, structuring major transactions, and supporting companies through successive stages of growth.

The corporate bond market should become more accessible to operating companies, institutional rules should be reviewed for biases against domestic exposure, and listing frameworks should offer Israeli companies a credible home-market option.

Israel should also become the preferred jurisdiction for investing in Israeli innovation through modern corporate law, faster dispute resolution, English-language commercial infrastructure, tax reform and, above all, regulatory certainty.

Israel has already proven that it can produce world-class entrepreneurs. The next task is to build world-class institutions around them. A trillion-dollar economy will not be created by celebrating more exits while ownership, capital, and decision-making continue to migrate abroad. 

It will be created when Israeli companies can raise, scale, list, borrow, reinvest, and remain Israeli through every stage of their lives. 

Creation is the problem Israel solved. Scale is the problem it has begun to confront. Sustainment is the problem it must take seriously.

This post was originally published on here. 

The recent passing of Qatar’s former ruler, Sheikh Hamad bin Khalifa Al Thani, has predictably triggered an avalanche of sanitized hagiography across Western capitals. Eulogists have rushed to celebrate the Father Emir as a visionary modernizer who transformed a desolate Gulf peninsula into an economic powerhouse. They point to the Doha skyline, the 2022 World Cup, and a staggering expansion of national wealth as proof of benign brilliance. 

Yet, this glossy narrative deliberately obscures a far darker historical reality. Sheikh Hamad was the primary architect of modern state-sponsored Islamism, and a ruthless strategist who weaponized unimaginable energy wealth to institutionalize a toxic double game that continues to destabilize the civilized world.

FILE PHOTO: Palestinian President Yasser Arafat receives the emir of Qatar Sheikh Hamad bin Khalifa al-Thani during the first visit of a Gulf Arab head of state to self-ruled Gaza Strip August 8, 1999.  (credit: REUTERS/Ahmed Jadallah/File Photo)

The coup and the gamble

The blueprint for Qatar’s malignant rise began in June 1995, when Sheikh Hamad deposed his father in a bloodless palace coup. Inheriting dormant natural gas reserves, the young ruler embarked on an audacious gamble. By aggressively tapping into the North Field, the massive natural gas reservoir shared precariously with Iran, he engineered a rapid economic explosion. 

Within a decade, Qatar became the premier exporter of liquefied natural gas, generating capital that defied its tiny population. Crucially, this fortune was never intended for mere domestic prosperity. Sheikh Hamad recognized that in a volatile region, traditional military might was unattainable. 

Instead, he converted Qatar’s wealth into an asymmetric weapon, buying immense structural influence by deliberately empowering the most radical ideological movements in the Middle East.

The double game

The true genius of Sheikh Hamad’s strategy lay in a cynical double game that insulated his regime from external threats while exporting chaos. In 1996, the Emir funded the construction of the massive Al Udeid Air Base, granting the United States military a permanent presence on Qatari soil. By providing the Pentagon with a vital logistics hub, Sheikh Hamad secured an American defense umbrella that rendered Qatar untouchable. 

Yet, in that same year, he established the Al Jazeera satellite network. While gullible Western observers celebrated the channel as a beacon of free press, Al Jazeera functioned as a sophisticated propaganda arm for the Muslim Brotherhood. 

Under royal control, the network systematically mainstreamed virulent antisemitic tropes, glorified suicide bombers as holy martyrs, and provided an unrestricted megaphone to radical clerics. During the Arab Spring, Al Jazeera acted as an active combatant, stoking revolutions against moderate Arab governments to install Islamist regimes.

Financing jihad

Nowhere was the Father Emir’s destructive ideology more visible than in his personal patronage of Palestinian terror. In 2012, Sheikh Hamad became the first foreign head of state to visit the Gaza Strip after Hamas violently seized control. This visit did not merely provide diplomatic legitimacy to a genocidal organization dedicated to the destruction of Israel; it opened a permanent financial pipeline that channeled billions of dollars directly to militants. 

While Doha defended these cash infusions as humanitarian relief, the financial reality was unmistakable. Qatari funding subsidized the administrative expenses of the Hamas government, allowing the group to divert its internal revenues toward building a massive subterranean fortress, acquiring weaponry, and executing catastrophic assaults against Israeli civilians. 

To consolidate this alliance, Sheikh Hamad converted Doha into a sanctuary, hosting the political leadership of Hamas in five-star luxury as they orchestrated violence from the safety of air-conditioned high-rises.

The mediator myth

The embrace of Palestinian militancy reflected a systemic ambition to turn Doha into the capital of global radicalism. Under Sheikh Hamad’s stewardship, the Qatari capital became a safe haven for exiled Islamists. The regime allowed the Taliban to open a formal political headquarters in Doha, shielded designated terrorist financiers operating with complete domestic impunity, and maintained deep economic ties with the mullahs in Tehran.

To protect itself from backlash, Qatar crafted a masterful diplomatic fiction, presenting itself as a neutral regional mediator. This narrative turns reality on its head through a calculated arsonist and firefighter dynamic. 

Qatar does not resolve conflicts out of a commitment to peace. Instead, the regime systematically finances, protects, and legitimizes the extremist movements that ignite regional conflagrations. 

When these crises become unmanageable, Doha steps forward as the firefighter, offering its unique access to terrorists to negotiate ceasefires. This enabled the Al Thani dynasty to market its complicity as a diplomatic asset, forcing Western nations to thank the very state that funded the threat.

The enduring machine

When Sheikh Hamad abdicated the throne in 2013, passing leadership to his son, Sheikh Tamim bin Hamad Al Thani, many predicted a pivot toward moderation. That optimism represented a fundamental misunderstanding of Qatari statecraft. The transition was a refinement of the Father Emir’s machinery, not a rupture from it. 

Tamim recognized that his father’s overt support for Islamism had brought Qatar to the brink of regional isolation. His solution was to wrap the radical infrastructure in a multi-billion-dollar layer of Western public relations. Under Tamim, Qatar perfected the art of sports-washing, acquiring European football clubs, investing in Western real estate, and hosting the 2022 World Cup to project an image of hyper-modernity. 

Yet, beneath this glamorous veneer, the underlying mechanics of state-sponsored extremism remained untouched. The safe havens remained open, the financial pipelines to radical actors continued to flow, and the toxic messaging of Al Jazeera shifted into subtle digital formats.

A call for Western accountability

As Qatar observes its official period of mourning, the international community must finally discard the dangerous illusions that have compromised Western policy for three decades. The global Islamist infrastructure constructed by Sheikh Hamad cannot be tolerated any longer. 

Strategic realism demands that the United States and its allies cease treating Qatar as a benign partner or an honest broker. The West must hold the Doha regime accountable by demanding an absolute, verifiable end to its financial and logistical patronage of extremist networks.

Sheikh Hamad has passed away, but the devastating fires of radical Islamism he systematically ignited and funded continue to burn across the Middle East, and the civilized world will suffer the catastrophic fallout of his decisions until it finds the courage to extinguish the source.

The writer, a fellow at the Middle East Forum, is a policy analyst and writer based in Morocco. Follow him on X: @amineayoubx.

This post was originally published on here. 

Many US Jews likely experienced the same emotions following Tuesday’s Democratic primary victory in Michigan of stridently anti-Israel Senate candidate Abdul El-Sayed as they did last year after Zohran Mamdani won New York City’s Democratic mayoral primary.

First came shock and disbelief that a candidate espousing such virulently anti-Israel positions could prevail. Then came the hope that somehow he would lose the general election.

With Mamdani, that hope proved futile. With El-Sayed, it may not.

Polls show a very tight race heading into November between the far-left El-Sayed – whom the moderate Democrat he defeated, Haley Stevens, said wants to pin all his woes on Jewish Americans – and former Congressman Mike Rogers. But it is important to remember that Michigan is not New York.

That may sound obvious, but in the rush to extrapolate broad national trends from every primary election, it is a distinction worth remembering.

New York City Mayor Zohran Mamdani pictured during his first day in office, January 1, 2026. (credit: Dave Sanders/Pool via REUTERS)

New York City is about as Democratic as a city can be, in a deep-blue state that has not voted for a Republican presidential candidate since Ronald Reagan in 1984.

Michigan, by contrast, is one of the country’s quintessential swing states. It voted for Donald Trump in 2024, and Republicans now control both chambers of the state legislature. Even with its large Muslim population, Michigan’s political and demographic makeup is considerably less favorable to El-Sayed than New York’s was to Mamdani.

And that raises an important question. It is now clear that the Democratic Party has reached the point where a candidate with El-Sayed’s positions can win a Democratic primary. But does that necessarily mean such a candidate can win a statewide general election in a swing state?

In New York City, for instance, if you win the Democratic Party primary, you are all but assured of winning the general election for mayor or Congress. But that is by no means the case in a statewide general election in a swing state.

The race in Michigan will now pose a genuine dilemma for many of the state’s Jews. Do they vote for a candidate who advocates an arms embargo on Israel – meaning he would oppose even the sale of defensive systems such as Iron Dome – and who, on Wednesday morning after the election, called Israel “bloodthirsty” and said his problem with Israel goes beyond Prime Minister Benjamin Netanyahu and has to do with a longstanding “illegal apartheid regime”? Or do they vote for Rogers, the Republican candidate, with whom they may disagree on a range of social and economic issues?

New York Jews confronted a similar choice with Mamdani, and roughly one-third voted for him. Since then, he has continued to libel the Jewish state while helping mainstream anti-Israel rhetoric that only a few years ago would have been considered beyond the pale.

Will Michigan’s Jews make the same calculation? According to the Jewish Institute for the Electorate, there are some 130,000 Jews in Michigan – of whom an estimated 44% are Democrats and 36% independents – and the movement of a few thousand of these voters to the Republican, pro-Israel candidate could make all the difference in November’s election.

And the stakes extend well beyond Michigan.

Democrats seeking to end Republican control of Senate

Democrats view the Michigan Senate race as essential if they hope to regain control of the Senate. For many lifelong Democrats, that creates an agonizing political choice. Do they vote for their party, despite deep discomfort with El-Sayed’s views on a wide range of issues, including Israel? Or do they vote Republican – or stay home – knowing that doing so could help keep the Senate in Republican hands?

The same dilemma will confront voters in Maine, where they too will choose between a hard-left Democrat and a moderate Republican in a race that could help determine which party controls the Senate.

Senate Minority Leader Chuck Schumer – who in front of Jewish audiences often says that his name derives from the Hebrew shomer (guardian) and that he views himself as a guardian of the Jewish people and Israel – has already endorsed El-Sayed following his primary victory.

Some will argue that El-Sayed is simply unelectable in a statewide general election. They will point to his far-left politics, his comments regarding 9/11, and other positions they believe place him well outside the political mainstream.

Perhaps.

But “unelectable” is a term that has lost much of its meaning.

Many people were convinced Donald Trump could never win a general election when he emerged from the crowded 2016 Republican primary field. They were wrong.

In today’s America, yesterday’s “unelectable” candidates increasingly turn out to be quite electable.

Michigan candidates leaning away from activist Left

Still, there are reasons to believe Michigan may prove different.

Michigan Democrats have won recent statewide races by nominating candidates such as Elissa Slotkin for senator and Gretchen Whitmer for governor, politicians who appeal to the political center rather than the activist Left.

Rogers is also not to be easily dismissed. A former Army lieutenant and FBI special agent who focused on organized crime and public corruption, he served seven terms in Congress and, in 2024, lost to Slotkin by just 25,000 votes – about one-third of one percentage point.

Nor did El-Sayed exactly sweep into the nomination. He defeated Stevens by less than one percentage point, or roughly 15,000 votes. It is reasonable to assume that at least some Democrats who supported Stevens in the primary will balk in November at El-Sayed’s positions and either cross party lines or simply stay home.

Rogers, moreover, is not easily caricatured as a MAGA firebrand. Though he has aligned himself with Trump, he remains very much an establishment conservative, something that could make him a more acceptable option for moderate Democrats than a more populist Republican nominee would have been.

Which brings us to the irony.

Had Stevens won the Democratic primary, Democrats might well have entered the general election as favorites, just as they did with Slotkin two years ago.

Instead, by choosing a candidate riding the Democratic Socialist wave flooding the party, they may have selected someone less able to win where elections in swing states are generally decided – in the political middle.

If that happens, El-Sayed’s primary victory could ultimately cost Democrats control of the Senate.

And for those whose overriding concern is preserving strong US support for Israel – and who are watching the Democratic Party’s trajectory on that issue with growing unease – that may not necessarily be viewed as a particularly bad outcome.

This post was originally published on here. 

A video circulating online with a reportedly manipulated deepfake appears to show a Moroccan border guard throwing an object toward an individual. In the original footage, it makes no contact.

Last week, Reuters disclosed that a draft report by the United Nations Panel of Experts on Sudan had been submitted to the Security Council. The panel alleges that aircraft transported weapons, drones, fighters, and Colombian mercenaries to the Rapid Support Forces through Global Security Services Group, a UAE-based company, citing two eyewitnesses and two unnamed member states. The UAE says it found no company involvement.

Those gaps will not survive the propaganda cycle. A UAE-based company will become “the UAE,” a draft will become a verdict, and alleged assistance to one armed faction will become “the Emirati genocide of Sudan.” By publication, the conclusion will already have moved through activist accounts, Qatari and Iranian media, Islamist-aligned human-rights organizations, universities, and Western newspapers, until anyone asking what the evidence proves is accused of defending mass murder.

This is how a political blood libel is manufactured in 2026. The medieval version accused Jews of secretly taking Christian blood; its modern descendant accuses Israel, and now the states that chose peace with it, of manufacturing wars to harvest Arab and African blood, land, gold, and ports. Every evidentiary gap is filled by the certainty of the accuser.

I recognize this pattern because I am Moroccan, because I lived for seven years in the United Arab Emirates, and because my work has placed me inside the frequently punished effort to build relations among Arabs and Jews. I have watched Emiratis described as secretly Jewish, Moroccans accused of becoming Zionist colonizers, and Arabs who choose normalization treated as though they had forfeited the right to speak for their countries.

An AI- generated picture depicting a Moroccan border guard throwing a rock towards an individual, August 6, 2026 (credit: SECTION 27A COPYRIGHT ACT)

In 2004, Natan Sharansky proposed his three-part test for identifying when criticism of Israel becomes antisemitism: demonization, double standards, and delegitimization. Those methods are now transferred to Israel’s allies. The UAE, the largest government donor to Sudan’s humanitarian response in 2025, is demonized as the sole author of the country’s catastrophe, even as Qatar, Turkey, Iran, and Pakistan support Sudanese Muslim Brotherhood networks.

Netanyahu has called the information battlefield Israel’s “eighth front,” where enemies that cannot defeat Israel militarily try to isolate it morally and economically. Only months after the Security Council condemned Iran’s missile attacks on the Emirates, a still-unpublished UN report is transforming Abu Dhabi from a victim of aggression into the architect of an African conflict it is doing the most to relieve.
 
The draft may contain important evidence, but the public record does not prove that the Emirati state commissioned the flights or directed the RSF.

The double standard is clearest in what disappears from the Sudan story. The Sudanese Armed Forces are heirs to Omar al-Bashir’s Islamist security state. In March 2026, Washington designated the Sudanese Muslim Brotherhood, including the al-Baraa bin Malik Brigade, as terrorist organizations, citing more than 20,000 fighters trained or supported by the IRGC. Iran has supplied the SAF with drones, while Sudanese and Israeli reports allege that Burhan’s government is courting Hamas in Port Sudan.

Yet the campaign against the UAE minimizes this Islamist infrastructure, reduces Iran’s role to a footnote, barely examines Turkish and Qatari support for the SAF, and presents Abu Dhabi as the omnipotent hand behind a war sustained by Bashir-era networks and competing regional powers.

Yesterday’s Financial Times portrayal of the UAE as a thief of Sudanese gold follows the same pattern. Because Dubai is a global center for refining and re-exporting gold, commercial flows through Emirati markets are presented as proof that Abu Dhabi entered Sudan to plunder Africa. Switzerland, Singapore, and Hong Kong require no domestic mines to operate as refining hubs, yet the UAE’s role is called colonial exploitation.

Morocco is being placed inside the same frame. During the current Ceuta crisis, approximately 60,000 people crossed into the Spanish enclave after false claims spread online that the border had opened, encouraged by a July 8 Spanish Supreme Court ruling that granted neither residency nor entry.

No evidence has shown that Israel organized the movement, yet those theories appeared immediately. According to narrative-warfare researcher Travis Hawley, around fifty X/Twitter accounts drove most of the claim that Morocco had acted on Israel’s behalf, amplified by the same voices who turn every regional crisis into evidence of hidden Zionist direction.
 
The mythology outlasted Israel’s own denial. If Rabat pressures Madrid, Israel must be directing it; if Morocco asserts its position in the Moroccan Sahara, it becomes “the Israel of North Africa”; and if Morocco buys Israeli technology, every alleged abuse proves that Zionism corrupted the state.

Theories began long before normalization

The rehearsal began well before normalization. As Morocco contained political Islam and reasserted state authority after 2017, Amnesty and the wider anti-Zionist NGO network turned an internal struggle against Islamist capture into a story of Israeli control. Organizations that spent years accusing Israel of apartheid and colonialism now direct the same charges at Rabat and Abu Dhabi, while Algeria and Iran’s sponsorship of the Polisario Front disappears from view.

The objective is not to correct one Emirati policy in Sudan, but to dismantle the regional front built by Israel, Morocco, the UAE, and Bahrain against the Muslim Brotherhood, the IRGC, and the forces that require permanent war. Israelis should not watch these campaigns in silence, and should defend the sovereignty of Morocco and the UAE with the same seriousness Israel defends its own, not as diplomatic courtesy, but to protect the civilizational alliance they are building together.

Before repeating another allegation, readers should ask who produced it and whether it would carry the same force if Israel were absent. Peace will survive only if the countries that chose it refuse to let one another be defamed by enemies who could not defeat them on the battlefield.

The writer is a writer and policy advisor pioneering the bottom-up movement of the Abraham Accords. She leads initiatives that turn the Accords from a diplomatic framework into a living ecosystem of cultural collaboration, de-radicalization, and regional integration.

This post was originally published on here. 

The future of Israeli basketball has been on display all summer long as both the youth men’s and women’s national teams of various ages have been playing across Europe in their respective European Championships.

The Israel Under-18 team is in a unique situation, as it is the only one of six blue-and-white teams participating in Division B and has one goal in mind: to be promoted to Division A so that all of the squads will be playing at the top level next summer.

One of the most intriguing players on the U18 team is 16-year-old point guard Maayan Gorin, who plays for Crestwood Preparatory College in Toronto, which is one of Canada’s top basketball academies.

Gorin second on Israeli squad

Last summer, Gorin was one of the leaders of Israel’s U16 National Team, which finished 11th at the FIBA U16 Women’s European Championship. She averaged 20.0 points per game (second-best in the tournament), along with 3.0 assists and 4.6 rebounds. Having gone 4-0 in the group stage of the current tournament taking place in Tulcea, Romania, Gorin is second on the Israel squad with 16.0 points per game. The blue-and-white is slated to tip off against Iceland in the quarterfinals on Friday.

Just before the competition tipped off, The Jerusalem Post sat down with Gorin in a special interview about almost everything under the sun.

Press conference of the Israeli female basketball who finished second place in the Euro championship. July 13, 2026. (credit: Danny Maron/Flash90)

“It’s an amazing feeling to represent Israel,” Gorin began. “There’s nothing better than representing your country and being together with all the girls. It’s just so much fun.”

Last summer, Gorin had a very successful tournament, both individually and with the team as a whole, which she was able to take plenty out of the experience.

“That was a lot of fun, both as a team and personally. I think this year we can accomplish a lot by taking the good things from last year with us. We have a very talented team, and I believe in all of us.”

The goal is clear for Gorin and the squad as they look up from Division B.

“Of course, to earn promotion to Division A, do the best we possibly can and play together as one team.”

Growing up, basketball was not the first sport that Gorin started playing.

“I actually played soccer, but all of my friends played basketball and wanted me to join them. So I decided to try it once and I fell in love with it.”

Gorin played in the Gilboa/Maayanot youth department, although she is from Kibbutz Megiddo in the area. But the experience really helped her develop her skills and was the foundation stone for her success and a move to North America.

Crestwood an ‘opportunity I didn’t want to miss out on,’ says Gorin

“I joined the academy at Gilboa/Maayanot and lived there for a year. It was an amazing experience. It’s a great club, and I had a lot of fun. After the European Championship last year with the U16 national team, the Crestwood Preparatory Academy contacted me. I felt it was an opportunity I didn’t want to miss out on, so I decided to go for it.”

Gorin received a number of offers, including some from schools in America, but ultimately settled on playing in Canada.
“I did have a few offers from the United States, but I felt that the opportunity in Canada was the strongest of all the options. So there really wasn’t much of a decision; I wanted to go to the best place I could.”

Before Gorin made the move to the Great White North, she spoke with players who had already made that kind of move, whether to Canada or the USA.

“I had a few conversations at the beginning, but mostly my parents spoke with a lot of people, and my agent did all the research before I moved. I felt completely confident before making the move and knew exactly what I was getting into.”
Gorin’s success has led her to have some clips of game highlights from Canada on Instagram that have gone viral, but she knows that the key is to keep everything level-headed.

“Of course it’s fun. I think you just have to enjoy it, not get too caught up in it and just let it be.”

As one of the younger players on this U18 team, Gorin has not had any issues with fitting in and finding her place.
“I already knew most of the girls. There were a few I hadn’t played with before, but I felt like I fit in right away. They’re all really good friends of mine, and it’s just a lot of fun.”

Gorin has some incredible assets and is extremely talented, but knows that she also has areas that need improvement to become the best version of herself possible.

“I think one of my biggest strengths is my speed. I just love to run. What I’d like to improve is learning to control the pace of the game better at times, work on my weak hand, and just improve in every area that I can.”

Over the past few years, women’s basketball in Israel has really taken a step up with more players going abroad along with a number of success stories from some of the age groups. Gorin feels that there has been progress and also has some dreams of her own.

“First of all, it’s great to see more and more girls playing and to see how much the sport is growing. I think all of us work really hard and you can see the progress. Women’s basketball is developing a lot, and that’s exciting. As for my biggest dream, that’s to play at a great college and then make it to the WNBA.”

See more Israeli sports coverage at www.sportsrabbi.com/en

This post was originally published on here. 

US President Donald Trump said that he is “extremely happy” with the work of US Defense Secretary Pete Hegseth in a post to Truth Social on Thursday, disputing a Washington Post report that the two had clashed at Camp David. 

“In actuality, I really believe their fake ‘reporting’ is treasonous!” Trump wrote, calling Hegseth’s work extraordinary, and pointing to the US operation in Venezuela which took down Nicolas Maduro and the US attacks on Iranian nuclear and military infrastructure. 

The report, which cited a source as saying that Trump did not know about the extreme munitions shortage that is threatening to limit US military options in Iran, was also rejected by White House Press Secretary Karoline Leavitt in a post on X/Twitter shortly after it was published on Wednesday. 

“This literally never happened,” she wrote.

Trump also pushed back on the report in a previous post on Truth Social on Wednesday, writing that the US has “massive amounts of ‘munitions,'” and that additional munitions were being manufactured and shipped to the US as needed. US President Donald Trump and US Defense Secretary Pete Hegseth attend the Pennsylvania Defense and Innovation Summit at the United States Army War College in Carlisle, Pennsylvania, US, July 15, 2026. (credit: Reuters/Kylie Cooper)

He also wrote that long-term jail sentences would be sought for those who had made the statements about the US’s diminishing stockpile. 

Officials say Trump knew of potential problems

White House officials confirmed to CNN that Trump had been aware of any potential problems for months and was not blindsided, but rather was upset that the information had been released to the public while the US is in negotiations with Iran. 

“He has never blamed Pete. This is all about the leakers,” CNN cited one official as saying. 

This post was originally published on here. 

Israel should intensify strikes against any Hezbollah activity detected in southern Lebanon while avoiding a declaration that the ceasefire has ended, former head of the Mossad’s counterterrorism division Oded Ailam told 103FM on Thursday.

Speaking with Amihai Attali and Barak Serri, Ailam discussed the escalation in Lebanon and tensions in the Persian Gulf amid threats by US President Donald Trump and Tehran’s statement that an agreement with Oman was close to being signed.

Ailam first addressed the escalation in Lebanon, during which two IDF soldiers, Maj. (res.) Harel Birenstock and Sgt. Maj. (res.) Tamir Vaknin, were killed in an explosive device blast.

“Contain it? Certainly not. And certainly not end it, either. We cannot end this unilaterally. There is the big redheaded brother, who pretty much dictates the moves here. We need to maneuver between two options, neither of which is good. First, we need to continue this, or even intensify it, without declaring that the ceasefire is over.”

According to Ailam, targeted killings of senior figures and attacks in Beirut’s Dahiyeh neighborhood would amount to breaking the rules of the game, a step he advised Israel to avoid.

A flag depicting late former Hezbollah leader Hassan Nasrallah flutters as Shi'ite mourners mark Ashura, in the southern suburbs of Beirut, Lebanon, June 26, 2026 (credit: REUTERS/KHALIL ASHAWI)

Strikes without a return to all-out war

“Let us not forget that we are also holding talks with the Lebanese. They ended unexpectedly on Wednesday, but the talks are important, not because the Lebanese army will take control of the area tomorrow and establish the Principality of Liechtenstein. That will not happen. But over time, it matters that we, and not only we but the world, give significant legitimacy to the idea that there is one sovereign authority, and that is Lebanon.”

“I would recommend striking with force anywhere in southern Lebanon where we identify any kind of organizing, without any reservations and without any restrictions,” he added.

“Those points that are supposedly part of the pilot program are places where we need to examine how we operate. I would not recommend that Israel take the gloves off at this stage, declare that the rules have been broken, and return to fighting until Hezbollah is completely destroyed.”

Ailam attacks Trump’s record

Ailam later recalled the US president’s financial ventures, which had experienced both successes and failures.

“Excellent question. I want to remind you who Trump is. From 1991 to 2009, as a businessman, his corporations went bankrupt six times. Somehow, he escaped all of them by the skin of his teeth because he separated himself from the corporations, and the price was that he relinquished control. This is a pattern that characterizes this man.”

“And now we are seeing his seventh bankruptcy, and that of the corporation called America,” he charged. “Trump will separate himself from it and announce that this is a brilliant victory. In February 2020, Trump signed a brilliant peace agreement with the Taliban, if you remember, in which the Taliban became vegetarians, sent their women to an anthroposophic school, and, of course, gave women status. Shall I remind you how it ended? Afghans died on American aircraft as the Americans fled Afghanistan. That is the man.”

This post was originally published on here. 

Mossad Director Roman Gofman decided to remove two of the agency’s most senior officials from their posts over a plan to replace Iran’s regime that was never carried out as intended, N12 reported on Thursday.

The officials are the head of the Mossad’s Intelligence Directorate, who entered the position in December, and the head of the agency’s Iran division. Neither official was named in the report.

Security officials told N12 that neither official had developed a good working relationship with Gofman from the outset and that their tenures would end by mutual agreement.

Both could remain in the Mossad in other positions, the officials said, describing the changes as part of a broader reorganization of the intelligence agency.

Nevertheless, N12 linked the moves directly to the regime-change proposal, saying the two officials had conceived and drafted the plan. The report stressed that both had made invaluable contributions to Israel’s security, but said Gofman believed those responsible for the plan should be held accountable after it was presented to US President Donald Trump and was not implemented on the ground.

Mossad Chief Roman Gofman waits before a joint press conference of US President Donald Trump and Netanyahu in the State Dining Room at the White House, in Washington, DC, US, September 29, 2025. (credit: REUTERS/JONATHAN ERNST)

According to N12, the secret Mossad-CIA proposal called for Kurdish ground forces to enter Iran under extensive Israeli and American air cover. Iranian minorities would then help remove the Islamic Republic’s leadership, allowing alternative Iranian figures to take power.

Ahmadinejad was planned to be next Iranian leader

In May, The New York Times reported that Israel and the US had entered the war with a specific candidate to lead Iran: former president Mahmoud Ahmadinejad. The reported plan to install Ahmadinejad was initially developed by Israel and discussed with the former Iranian leader, according to the report.

American officials and a person close to Ahmadinejad said the operation began to unravel on the first day of the war. As part of an attempt to free him from house arrest, the Israel Air Force reportedly struck his Tehran residence with the intention of killing the guards holding him.

Ahmadinejad survived but was reportedly wounded in the strike. He subsequently began expressing doubts about the plan to topple the regime, according to N12.

This post was originally published on here. 

US President Donald Trump’s military leverage against Iran is steadily weakening and is nearly gone, former Israel Air Force commander Maj.-Gen. (res.) Eitan Ben Eliyahu told 103FM on Thursday, amid tensions over the Strait of Hormuz and reports of a shortage of US interceptor missiles.

Ben Eliyahu spoke with Nissim Mishal and Anat Davidov on Thursday morning about tensions in the Persian Gulf following Iran’s announcement that an agreement with Oman concerning the Strait of Hormuz was in its final stages. He also addressed recent reports of a shortage of US interceptors and a dispute between Trump and US Defense Secretary Pete Hegseth over the issue.

According to the former Israel Air Force commander, the sides have yet to reach a full, formal agreement.

“For now, there is still no agreement,” he said. “There is more or less an understanding that Iran will control entry into the strait, but regarding the exit from the Gulf, it is still unclear whether it will have control or not.”

“The second issue is that Iran is demanding a certain commission, while Oman is demanding less,” he added. “One side is demanding around 7%, while the other is asking for only 3%, and the United States is demanding that there be no payment at all. We often hear inaccurate reports, not to mention outright fake news, and that is true this time as well.”

Former Israeli Air Force commander Eitan Ben Eliyahu. November 11, 2019. (credit: MOSHE SHAI/FLASH90)

Iran’s strategy and Trump’s military leverage

Ben Eliyahu then addressed the possibility that Tehran was misleading Trump.

“The Iranians operate in a way that the American president does not understand,” he said. “In my opinion, he does not understand this mentality. We barely understand it either. Perhaps we understand it a little better, but we do not respond as we should.”

“It is not exactly ‘deception,’” he added. “They raised an idea that, from their perspective, is a good one. It says: ‘Leave the Americans out of it. This is our business with the Omanis, and in this way, we will overcome the restrictions of international law, because if it is only us, then it is an absolute problem.’

“In other words, it would be completely prohibited under international law. If an agreement is reached with Oman, it creates an opening in international law. That is also why they are ignoring the Americans.”

Asked whether this would constitute a concession from the US perspective, Ben Eliyahu gave a clear answer.

“Absolutely,” he said. “I do not know whether Trump will go along with it, and I do not know what power he has not to go along with it. His military leverage is gradually weakening, and I would say that he is almost losing it.”

He then criticized the conduct of the US president.

“How many times can you attack?” Ben Eliyahu said. “How many times can you cry wolf when it does no good, and how many times can you attack and achieve a result? At a certain point, achievements, resilience, and endurance are not measured by economic damage or by attacks on symbols of government.”

“The Iranians are reaching a point where they are prepared to sacrifice themselves, to hold out to the death and to the last soldier,” he continued. “When you reach that point, the use of force loses its leverage.

“Then you ask the most important question: When is the right moment? The other side has an almost unlimited capacity for attrition. So where is the point at which you stop? Where do you begin to make concessions?”

Interceptor shortages strain regional defenses

Ben Eliyahu also addressed the contentious issue raised by recent reports of a severe munitions shortage, according to which the US had depleted nearly 80% of its air-defense interceptor stockpile.

“I do not have definitive information, and nobody does,” he said. “The issue is that the matter was brought to the surface when that general at the command in Europe expressed it. So there is some kind of problem. Now the argument begins: Is it 60%, 70%, or 80%? It does not matter.”

“If the defense were only for Israel, it would be a form of point defense,” he continued. “Are all the missiles aimed at Israel? You deploy here, and you have Israeli and American missiles, and for every anticipated scenario, you have reasonable protection.

“But when it begins to spread out, and there is also a need to defend Qatar, Saudi Arabia, Oman, Egypt, Turkey, and Israel, the entire system becomes dispersed. The Iranians only need to fire two missiles at Qatar to require the deployment of a complete defense system there.”

“The number of missiles the Iranians launch is small,” Ben Eliyahu concluded. “The number of launchers and missiles that the Americans, or we, need to deploy throughout the Middle East is far, far greater. That is why the shortage is significant.

“Imagine a country suddenly left completely exposed to missile launches and missiles that split into multiple projectiles, with nothing available to stop them. That is an intolerable situation.”

This post was originally published on here. 

Abbas Alawieh, a founder of the Uncommitted movement that pressured former US president Joe Biden to change his Israel policy, is the projected winner of a Democratic primary for Michigan’s state Senate.  

Alawieh rose to national prominence as a key architect of the campaign to withhold votes from Biden during Michigan’s presidential primary in 2024, a protest against the administration’s support for Israel as it inflicted mounting casualties in Gaza. 

Alawieh defeated state representative Erin Byrnes in Tuesday’s primary to represent Michigan’s 2nd Senate District, a heavily Arab-American area covering Dearborn and parts of Detroit – and the epicenter of the Uncommitted effort. He won 59% of the vote to Byrnes’ 41% after more than 95% of votes were counted, according to the Associated Press, and is now almost certain to win the solid-blue state Senate seat in November. 

Alawieh, who was born in Lebanon and grew up in Dearborn, acknowledged his victory without giving a speech on Wednesday. His staff announced that Alawieh’s maternal grandfather, Hajj Kassem Bazzi, died Tuesday night as they awaited the election results. 

“Please keep Abbas’s family in your prayers as they take needed time together,” Alawieh’s team said in a statement. “Abbas will share his own thoughts on the race soon. For now, thank you to every community that made this win possible.”

Abbas Alawieh, 32, senior Democratic strategist, speaks during an interview with Reuters in Dearborn, Michigan, US, February 2, 2024. (credit: REUTERS/DIEU-NALIO CHERY)

Alawieh was backed by Vermont Sen. Bernie Sanders and Michigan Gov. Gretchen Whitmer. He previously worked as a staffer for congressional Democrats, including Michigan Rep. Rashida Tlaib, former Michigan Rep. Andy Levin, and former Missouri rep. Cori Bush, who lost a primary against Rep. Wesley Bell on Tuesday. 

Over 100,000 vote for ‘uncommitted’ in 2024 Democratic primary

Alawieh, alongside Layla Elabed, co-founded the campaign urging Michigan Democrats to vote “uncommitted” in the 2024 Democratic presidential primary. The movement attracted a groundswell of support, including from some Jews, and won more than 100,000 votes, or 13% of the overall vote. Biden was beaten by the uncommitted vote in Dearborn, where Arab Americans make up more than half the population.

The Uncommitted movement also spread to other states, rallying more than 650,000 voters nationwide, and crystallized a lack of enthusiasm for Biden, who eventually stepped off the presidential ticket.

Alawieh served as one of the Uncommitted delegates at the 2024 Democratic National Convention, where he and other delegates unsuccessfully lobbied to place a Palestinian speaker on the agenda. 

Alawieh did not make Israel and Gaza a central part of his campaign for the state Senate seat, instead focusing on supporting working families and investing in healthcare, housing, public transit, and education. Still, he told the Michigan Advance in February that his role in the Uncommitted movement resonated with people in his district. 

“For the people in real life – not on Twitter – it is clear to them that parties’ focus on prioritizing funding for war crimes was out of touch with what voters wanted,” he said. “The party was undoubtedly wrong about Gaza in 2024.” 

Kamala Harris mends fences with Abbas Alawieh

While some Democrats blamed the Uncommitted campaign for contributing to US President Donald Trump’s defeat of former vice president Kamala Harris, who lost Michigan in her 2024 presidential run, Alawieh and Harris have mended fences enough to recently sit down for a meeting.

Harris “initiated” the meeting after months of phone calls, Alawieh said in July. “I urge VP Harris and all of our party’s leaders to side with peace-loving Americans against endless wars, in opposition to the Israeli military’s genocide in Gaza, and against the ethnic cleansing campaign in Lebanon,” he said. Alawieh has said that he voted for Harris against Trump in the 2024 general election, while Elabed did not.

The centrality of Israel in Michigan’s primaries has spawned bitter divides between Jewish Democrats and others in the party concerning the threat of antisemitism. In one incident that shook Detroit-area Jews earlier this year, Temple Israel in the suburb of West Bloomfield was rammed by a truck laden with explosives. The man who drove the truck, a US citizen from Lebanon, had recently lost several family members in an Israeli airstrike on Lebanon. 

Alawieh responded to the attack by declaring his support for Jewish Michiganders.

“We must stand in unequivocal defense of the humanity and safety of our Jewish siblings and denounce this heinous act,” he said in a statement. “My family and I are praying for safety for communities across our state who are feeling afraid right now, and we are holding our Jewish community members extra close.”

This post was originally published on here. 

The Food and Drug Administration has cleared Replimune’s treatment for advanced melanoma, dealing the biotech a major win after a tumultuous saga of trying to seek approval for the controversial treatment.

The FDA’s decision to grant accelerated approval to the drug, which is called RP1 and will be marketed as Tudriqev, came after its advisers last week voted in support of the treatment. Even though FDA staff expressed concerns about the design and conduct of Replimune’s key trial, advisers ultimately believed there was a large enough signal of efficacy and that patients are in urgent need of new treatments.

Replimune has not yet disclosed Tudriqev’s price.

Continue to STAT+ to read the full story…

This post was originally published here. 

A bill introduced in the U.S. Senate would amend the Truth in Lending Act (TILA) to explicitly include home equity investments (HEIs) within the law’s definition of residential mortgage loans — a move that would subject the growing financial product to federal consumer lending protections.

Introduced by Sen. Jeff Merkley (D-Ore.), the Home Equity Lending Integrity Act would amend Section 103 of TILA to define a home equity investment and clarify that these transactions fall under the law’s mortgage framework.

The measure was referred to the Senate Committee on Banking, Housing, and Urban Affairs. If enacted, legislation would require HEIs to comply with the same federal disclosure and consumer protection requirements that apply to many traditional residential mortgages.

It also directs the Consumer Financial Protection Bureau (CFPB) to issue regulations that govern enforcement and civil liability for violations that involve HEIs.

The bill includes a “sense of Congress” provision stating that lawmakers view the amendment as a clarification of existing law rather than a substantive change to how TILA should be administered.

Under an HEI, a homeowner receives upfront cash in exchange for a share of the home’s future value. They remain in the property while covering taxes, insurance and maintenance, and they settle when the home is sold or buy back the investor’s stake.

The pitch of no monthly payments makes the product appealing to homeowners who can’t or don’t want to take on new debt — particularly those shut out of traditional credit markets.

Some have argued that distinction makes HEIs an investment rather than a loan. The proposed legislation would largely resolve that debate under TILA by expressly defining these arrangements as home equity investment loans when they are secured by a home and require repayment based on the property’s value.

Growing market draws scrutiny

Demand for HEIs has grown as higher borrowing costs have made traditional financing more difficult for some homeowners.

According to the Urban Institute, about 35% of applications for cash-out refinances, home improvement loans and home equity lines of credit were denied in 2024, compared with 9.8% of home purchase loans. About one-quarter of HEI users had credit scores below 600, levels that often make conventional mortgage financing difficult.

The research also found that homeowners typically access about 15% of their home’s value through an HEI, while more than 40% of users are age 55 or older. Between 2015 and 2025, the three largest providers — Point, Hometap and Unlock — originated roughly 54,000 agreements.

“The products are becoming more popular for a lot of homeowners. The market is scaling and, as such, that necessarily is going to raise regulatory attention,” said Cliff Andrews, president of the Coalition for Home Equity Partnership. “We welcome the regulatory attention.”

But as HEIs have expanded, they’ve attracted greater legal and regulatory attention. Consumer advocates have questioned whether homeowners fully understand how repayment is calculated and how much they may ultimately owe if their homes appreciate significantly.

“The core issue is a regulatory mismatch,” Unlock CEO Jim Riccitelli said. “What’s happening with shared-equity products is what happens in category formation of any new and fast-growing product category.

“Existing rules and regulations weren’t designed for the structure of a shared-equity product, and what we’re seeing is exactly what new financial product category formation looks like: growth, scrutiny, regulatory efforts that are at times flawed and are at times good, and then clearer definition and workable solutions.”

States take different approaches

Oversight of HEIs remains uneven across the country as states weigh how to regulate the products.

Holly Spencer Bunting, a partner at law firm Mayer Brown, said lawmakers and regulators have taken differing approaches as they attempt to define and oversee HEIs.

“It’s almost sort of like we have two sides of the coin right now,” Bunting said. “Some state legislation that’s pending is quite restrictive, and then other states recognize that the product is a viable product.”

If Congress ultimately approves the Home Equity Lending Integrity Act, it would establish a uniform federal framework under TILA for home equity investments even as states continue to pursue their own regulatory approaches.

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

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DataTrace Information Services has released a new analysis examining whether artificial intelligence (AI) relying solely on public records can produce the accuracy and completeness required for insurable title decisions.

The report, titled “AI Title Search Tested in the Real World: What Accuracy, Risk, and Readiness Really Look Like,” concludes that AI performs best when paired with structured title plant data and human expertise rather than fragmented county public records alone.

“The speed of AI creates value, but only when paired with the confidence, completeness and accuracy needed for insurable title decisioning,” said Annette Cotton, chief data officer at DataTrace. “The future isn’t AI versus title professionals. It’s AI powered by trusted title data and guided by experienced title experts. That’s how the industry scales automation without sacrificing confidence or insurability.”

The company analyzed 200 residential title files and found that public-record-only AI searches missed at least one meaningful title matter in 40.8% of searchable files when compared with searches supported by DataTrace’s title plant data.

According to the analysis, the largest gaps involved high-risk issues, such as involuntary liens, where the issue fail rate exceeded 36%. The report also found that AI was unable to search 16 of the 200 files because they lacked title plant data or comparable normalized datasets needed to complete the search.

DataTrace also examined the potential financial impact of missed title issues.

Using an illustrative extrapolation based on annual existing-home sales, the analysis estimated approximately $489 billion in maximum potential liability and $148 billion in probable liability associated with missed title matters.

The report distinguishes between retrieving public records and producing an insurable title decision, noting that the latter requires validating ownership history, connecting related documents, identifying missing information and applying underwriting judgment.

DataTrace said it currently provides normalized title plant datasets across more than 1,850 U.S. jurisdictions and maintains a library of approximately 9 billion recorded document images to support title production and automation.

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

This post was originally published on here. 

Willets Point, New York City’s largest new all-affordable housing development in decades, has welcomed its first residents. The first affordable homes at Willets Point Commons opened earlier this year, with 880 units across two buildings. Upon completion, the Willets Point development will bring an unprecedented 2,500 units of affordable, workforce, and moderate-income housing for individuals, families, and seniors to the former industrial Queens neighborhood. Located across from Citi Field, the development by Queens Development Group (QDG), a joint venture of Related Companies and Sterling Equities, is part of a growing community of retail and entertainment opportunities, including the city’s first professional soccer stadium. New photos offer a first look at the new apartments and the suite of amenities available to residents.

The development offers rooftop views of Citi Field and the Manhattan skyline.

Managed by Related Management Company, Willets Point Commons offers two landscaped inner courtyards, outdoor terraces and BBQs, a tenant lounge space, a fitness center, a children’s playroom, co-working space, secure bike storage, electric vehicle charging, and ground-floor retail shops, as well as laundry and package rooms.

The rest of the city is easily accessed by the 7-train, LIRR, and Q19, Q90, and Q66 bus routes, all just steps away.

Plans to redevelop the former dumping ground and industrial neighborhood have been in the works for decades. As 6sqft previously reported, the mixed-use development is the result of a decades-long attempt to transform the blighted Willets Point section of Corona, Queens. The economic development site is situated within the industrial neighborhood east of Citi Field known as the Iron Triangle.

“Today is a major milestone for Willets Point. I’m proud to welcome the first residents home to Willets Point Commons–the largest fully affordable housing development our city has seen in decades,” Mayor Zohran Mamdani said in an earlier press release.

“At a time when too many New Yorkers are being priced out of the neighborhoods they built, this project is proof that government can still deliver bold, transformative change. By bringing together labor, community partners, and every level of government, we are creating a future where working families can afford to build their lives in this city.”

As part of phase one of the development, the 880 homes within Willets Point Commons include Buildings 1 and 2, serving households earning between 30 and 120 percent of area median income (AMI). Twenty percent of apartments will be set aside for Queens Community Board 7 residents, 10 percent for veterans and NYC municipal employees, five percent for mobility access needs, and two percent for visual/hearing access needs.

Also of note, the senior housing portion of the complex breaks ground this month. Once complete, 220 affordable senior housing apartments will complete the 1,100-unit commitment for the development’s first phase.

“Rising out of the former Valley of Ashes are 880 brighter futures for the first residents of the reimagined Willets Point,” Queens Borough President Donovan Richards Jr. said in a statement.

“This historic moment for our borough is the first of many more to come in this community, and I look forward to the creation of 220 units of affordable housing for low-income seniors to that list. This transformational project proves that Queens is truly the future, and I couldn’t be more grateful to work alongside our public and private partners in growing this Valley of Opportunity.”

Phase two will bring the remaining 1,400 of the project’s 2,500 new affordable homes.

Also part of phase two are a new public school, over 150,000 square feet of public open space, and Etihad Park, the city’s first professional soccer-specific stadium and the future home of the New York City Football Club (NYCFC). There will also be space for local businesses and a new hotel.

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The post New photos of Willets Point show off NYC’s largest all-affordable development in decades first appeared on 6sqft.

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Mortgage application volume declined for a second straight week as the average 30-year fixed rate climbed to its highest level in more than a year, according to the Mortgage Bankers Association’s weekly survey released Wednesday.

Total applications fell 2.9% on a seasonally adjusted basis for the week ending July 31, with the 30-year fixed rate rising to 6.81%. Refinance activity slipped 2% and purchase applications dropped 4%, with both categories running behind last year’s pace. On an unadjusted basis, the index was down 3% from the prior week, and refinance volume sat 9% below the same week a year ago.

Mike Fratantoni, the MBA’s senior vice president and chief economist, tied the move to the aftermath of the July Federal Open Market Committee meeting, noting that longer-term rates rose and carried mortgage rates to their highest point in more than a year.

The Rate Picture

The average contract rate on a 30-year fixed conforming loan rose to 6.81% from 6.76% a week earlier, while the jumbo 30-year rate ticked up to 6.72% from 6.70%. FHA-backed 30-year mortgages averaged 6.43%, and the 15-year fixed rate eased slightly to 6.13% from 6.15%.

The climb has been steady rather than sudden. The conforming 30-year rate stood at 6.76% the previous week, up from 6.69% before that, and it was at 6.65% in mid-July. That is roughly a sixteen basis point move over three weeks — enough to change the monthly payment math on a median-priced home by a meaningful margin, and more than enough to shut down refinance economics for anyone who borrowed in the past two years.

Refinancing accounted for 39.9% of all applications, up modestly from 39.5% a week earlier. FHA loans made up 17.3% of total applications, VA loans 12.3%, and USDA loans 0.5%. Adjustable-rate mortgages represented 7.9% of activity.

Energy Prices Are Driving the Curve

The path of mortgage rates this summer has less to do with housing than with oil.

The MBA attributed the prior week’s move to a spike in oil prices, which pushed the 30-year rate to its highest level since August 2025. Analysts have pointed to inflationary pressure and a firm labor market as supporting expectations that the Federal Reserve could raise rates this year, with rising fuel costs tied to disrupted Middle Eastern energy supply lifting yields on longer-dated Treasuries.

That transmission line runs straight from the Strait of Hormuz to the closing table. Mortgage rates track the 10-year Treasury yield, and the 10-year has been responding to inflation expectations driven by energy. As long as crude stays elevated on conflict risk, the rate relief that buyers and refinancers have been waiting on stays out of reach.

What It Means on the Ground

The purchase side is where the strain is now showing. Purchase applications fell 4% and are trailing year-ago levels, a reversal from earlier in the summer when purchase volume was running ahead of 2025.

Housing inventory has improved in some markets, but elevated rates continue to squeeze affordability for prospective buyers — the classic bind of this cycle, where more homes come to market precisely when fewer buyers can finance them.

Refinance demand has effectively hit its floor. Two weeks ago the refinance index dropped 10% in a single week, and the additional 2% decline reported Wednesday reflects a pool of eligible borrowers that has largely emptied out. Refinance applications had already fallen to their lowest level since May of last year.

Independent tracking points the same direction. The Xactus Mortgage Intent Index fell 2.7% week over week to 122.7 in late July, roughly 6.5% below the same week last year, with the firm’s chief strategy officer, Thomas Lloyd, saying the current rate environment continues to constrain borrower activity.

The MBA survey covers the bulk of U.S. retail residential mortgage applications and is the closest thing the market has to a real-time read on housing demand. The last two readings say the same thing: at 6.81%, the buyer pool is thinning.

JBizNews Desk | New York

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A new poll finds Democrats are now slightly ahead of Republicans on the economy, their first edge in almost ten years.
The Reuters–Ipsos poll, released on Aug. 3, shows 37 percent of U.S. voters prefer Democrats’ handling of the economy, edging out the 36 percent who favor Republicans on the issue. Another 27 percent remain unsure.
Three months ahead of the midterm elections, lawmakers said this could spell trouble for the GOP.
“It’s always the economy. You win when it’s good, and you lose when it’s not. It’s just the way this world works,” Sen. Thom Tillis (R-N.C.), who is not seeking reelection this year, told The Epoch Times….

This post was originally published here. 

President Donald Trump has been picking up the phone to Federal Reserve Chairman Kevin Warsh, speaking with him by telephone a number of times since Warsh was sworn in this spring, according to people familiar with the conversations. The two have talked multiple times since Warsh was confirmed in May, with the president asking about Warsh’s forecasts and views rather than pressing him toward any particular decision, one person said, speaking anonymously to describe private discussions. Two others described the contact as irregular and infrequent, and it is not clear whether monetary policy itself has come up.

The calls were first reported Thursday by the Wall Street Journal and picked up by Bloomberg. People familiar with the pattern said the president calls in bursts — several times in a single week, then nothing for stretches — and has sought Warsh’s read on how the war with Iran and the buildout of artificial intelligence are hitting the economy. Interest rates themselves have not been part of those discussions since Warsh’s Senate confirmation, according to people cited in the reporting.

The White House said the president has been deliberate about leaving the new chairman room to work. Spokesman Kush Desai said Trump has repeatedly stressed that he is giving Warsh the space he needs to restore confidence in Fed decision-making, and has reaffirmed both the chairman and the central bank’s independence, while retaining the right to voice his own views. The Fed declined to comment.

Here is why business owners and borrowers care about something as ordinary as a phone call. The Federal Reserve sets the short-term interest rate that ripples through nearly every price of credit in the country — business loans, mortgages, car notes, credit card balances. The institution was built so that the officials setting that rate do not answer to whoever occupies the White House, on the theory that borrowing costs decided for political convenience eventually show up as higher inflation. Presidents appoint the chairman and the Senate confirms him, but day-to-day contact between the two offices has traditionally been kept sparse and formal. Calls and meetings between presidents and Fed chairs have happened before, though historically they have been rare.

What makes the current arrangement worth watching is that the two men are publicly on opposite sides of the rate question.

Warsh took over from Jerome Powell in May when Powell’s term expired. Trump nominated him after a year of hammering Powell for not cutting rates fast enough. Warsh, 55, served as a Fed governor from 2006 to 2011, becoming the youngest governor in the institution’s history at 35, and came to the job from the Hoover Institution and Stanford’s business school after calling openly for a shakeup of how the central bank runs.

That shakeup has not yet produced the cheaper money the president wants. At its July 29 meeting the Fed left its benchmark rate in a range of 3.5% to 3.75%, the fifth straight meeting without a change. The vote was 9-3, with the presidents of the Cleveland, Minneapolis and Dallas regional banks dissenting in favor of raising rates a quarter point. That was the most dissents pointing in a single direction since September 2016. Inflation has stayed high largely because of the Iran war and the spike in energy prices that came with it.

Trump’s public reaction to that decision was measured. Asked at the White House whether he was disappointed, he said Warsh is “fantastic, but he’s got a board,” describing the committee as political and inclined to keep rates where they are.

Warsh has been rewriting how the Fed talks to the outside world, shortening its post-meeting statements and stepping back from the practice of telegraphing where rates are headed. He told reporters the Fed has no quick fix for inflation and said he welcomed the internal argument at the July meeting. He also acknowledged that the reduced signaling has moved the bond market, where the 10-year Treasury yield climbed from about 4.50% in mid-June to 4.64% just before the rate decision.

For companies waiting on financing, the practical picture is unchanged by the reporting. Rates are sitting near 3.6%, and about three-quarters of traders expect a rate increase in September — a move up, not down. The next Fed decision comes in September, and the calls, however frequent, have not altered the direction the committee is leaning.

JBizNews Desk | Washington

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

A man was arrested after being thwarted from lunging with a knife toward an Israeli kitchen tent at the Edmonton Heritage Festival on Monday.

Social media footage circulating on Wednesday captured the shadow of an individual attempting to slash an Israeli tent with a knife. The footage then cut to security officers detaining the assailant in the main festival area as chants of “All the Zionists are racists” echoed in the background.

The Jerusalem Post spoke to Stacey Leavitt-Wright, CEO of the Jewish Federation of Edmonton, who was involved in organizing the Israel Pavilion and was present there that day. She confirmed that local police were actively investigating the case and that charges against the perpetrator had not yet been announced.

Leavitt-Wright stated that the assailant managed to breach the Israeli Pavilion area and approach the back of the kitchen tent. After a volunteer at the front alerted security, the attacker lunged toward the tent with a knife. A second volunteer pulled him away as he struck the tent with the blade, before security guards subdued him near a protective perimeter fence.

Leavitt-Wright noted that the incident coincided with a protest organized by local Jewish anti-Zionist groups, including Independent Jewish Voices Edmonton (IJVE) and Edmonton Jews Against Zionism (EJAZ), who coordinated the protest with the MacEwan chapter of the Palestinian Student Alliance (PSA). The activist groups had demanded the Heritage Festival organizers exclude the Israel Pavilion.

Edmonton Police investigate at the scene where a man hit pedestrians then flipped the U-Haul truck he was driving, pictured at the intersection at 107 Street and 100th Avenue in front of the Matrix Hotel in Edmonton, Alberta, Canada, October 1, 2017. (credit: REUTERS/CANDACE ELLIOTT)

Iranian Israel supporters push back against anti-Zionist protesters

Pro-Palestinian demonstrators holding signs denouncing Zionism and calling to “Free Edmonton from Zionist Pavilion Israel – shut it down!” were kept at a distance by security. Meanwhile, Iranian supporters of the community held Israeli flags and chanted back “Bibi, Bibi thank you!”

According to Leavitt-Wright, the protest spanned nearly three hours.

“They tried to shut down our pavilion. In spite of this incident, we were heartened that there were so many people who came to us to express their support and how upset they were to see this demonstration. It is not in the spirit of the festival. We have participated every year for over 45 years,” Leavitt-Wright told the Post.

The incident follows a wave of escalating threats and violence directed at Jewish institutions across the country, marked by recent attacks, such as a suspected arson that gutted Nöam, a popular kosher restaurant in Montreal, and targeted shootings in Toronto where gunfire struck two locations of the Jewish-owned Kiva’s Bagel Bar chain.

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An 18-year-old Jewish teenager sitting at a Starbucks inside a Target store in Miami was targeted for wearing a kippah, struck with a cell phone, and assaulted with a metal chair in a violent antisemitic attack.

The incident occurred on Sunday afternoon at a Target store located at 140th Street and Biscayne Boulevard.

According to the victim’s interview with Local 10 News, he was sitting in the Starbucks seating area while his family shopped when a woman approached him. He said, “I wasn’t looking for problems, didn’t interact with her before, zero, it was completely unprovoked.”

Teen attacked by 43-year-old woman 

According to the North Miami Beach Police Department arrest report and witness statements, 43-year-old Chyvonne Juanita Palmer stood up from her seat, approached the teenager, and began screaming at him before hitting him twice in the head and shoulder with a black cell phone.

After briefly returning to her seat, Palmer got back up and wielded a metal chair against him while shouting repeatedly, “I hate them.” Two bystanders intervened to prevent the chair attack while ushering the teenager away from the scene, where he hid in the store’s restroom.

 General view of a Starbucks coffee shop in London, Britain, March 6, 2020.  (credit: REUTERS/HENRY NICHOLLS)

Police took Palmer into custody at the scene. She has been charged with multiple offenses, including aggravated battery, aggravated assault with a deadly weapon with prejudice, and disorderly conduct.

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A little-noticed policy shift by the Trump administration caused a seven-year delay in choosing a costly AbbVie medicine for Medicare price negotiations, a move likely to hurt taxpayers, according to an analysis by a consumer advocacy group.

The change occurred as the Centers for Medicare and Medicaid Services readied a new round of talks with drugmakers over prices that the agency would pay for a limited number of medicines. The process was created by the Inflation Reduction Act, which became law in 2022 in response to the rising cost of prescription drugs.

Continue to STAT+ to read the full story…

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Boeing’s relationship with federal regulators continues to normalize, but the FAA is making clear that routine oversight is back in full force. The agency has proposed mandatory inspections of passenger-seat installations on hundreds of Boeing 737 Max aircraft, a move that highlights the difference between ordinary regulatory scrutiny and the systemic manufacturing failures that once defined the program.

The Federal Aviation Administration published a notice of proposed rulemaking in the Federal Register on July 27 covering the 737-8, 737-9 and 737-8200. If finalized, the proposal would require operators to inspect passenger-seat track fittings throughout affected aircraft and correct any improperly installed assemblies before they create a safety risk.

The Safety Concern

The FAA’s concern is straightforward: passenger seats that are not fully engaged with the aircraft’s floor tracks could detach during severe turbulence, heavy loading or an emergency landing. Beyond the immediate risk of injury, a loose seat could block an aisle during an evacuation, turning a maintenance defect into a potentially life-threatening emergency.

Although the proposal stems from a reported installation issue, the FAA concluded the condition could exist on other aircraft built to the same design standard, prompting it to extend the inspection requirement across the broader fleet.

The Business Impact

The proposal affects 453 aircraft and requires inspections of approximately 69 passenger-seat assemblies per airplane. The FAA estimates the total inspection cost at just over $2.65 million.

Financially, however, the maintenance expense is not the story.

The directive places responsibility on airlines because operators—not manufacturers—are responsible for maintaining aircraft in an airworthy condition. Whether carriers ultimately recover those costs from Boeing becomes a commercial matter rather than a regulatory one. Boeing said it had already issued inspection guidance to airlines in December 2025 and supports making those procedures mandatory.

For airlines, the larger challenge is operational. Scheduling inspections across hundreds of aircraft during periods of heavy travel can temporarily reduce fleet availability even when the repair itself is relatively inexpensive.

Boeing’s Regulatory Recovery Continues

The timing is particularly notable because it comes as Boeing continues rebuilding its standing with federal regulators.

Earlier this month, the FAA restored the company’s authority to issue airworthiness certificates across all 737 Max and 787 Dreamliner aircraft—responsibility the agency reclaimed following the 2019 Max accidents and later production-quality concerns involving the 787.

Rather than immediately returning certification authority, the FAA spent months alternating certification responsibilities with Boeing, comparing inspection results before concluding the company’s manufacturing performance had reached the required standard. The agency has emphasized that audits, factory inspections and oversight of Boeing’s safety culture will continue.

That broader regulatory backdrop changes how investors are likely to interpret the latest proposal.

Stronger Operations Overshadow Routine Oversight

The seat inspection notice arrived just as Boeing reported second-quarter earnings that showed continued operational improvement despite ongoing financial challenges.

Revenue rose to $24.6 billion, commercial aircraft deliveries increased 14 percent from a year earlier, and the company’s order backlog reached a record $715 billion, representing more than 6,200 commercial airplanes. Boeing also generated $631 million in free cash flow, its strongest quarterly delivery performance since 2018.

Investors focused on improving production rates and cash generation, sending shares higher following the earnings report despite another quarterly loss.

What It Means for Business

For airlines, the proposal is primarily a maintenance scheduling issue rather than a major financial burden.

For Boeing, the significance lies in what the FAA’s action does not represent. Unlike the structural, certification and manufacturing failures that dominated headlines in recent years, this proposal reflects routine regulatory oversight of an identified maintenance concern—precisely the type of issue aviation regulators regularly address across the industry.

That distinction matters.

The FAA is no longer responding to a crisis that questions whether the 737 Max should remain in service. Instead, it is carrying out the day-to-day oversight expected of any mature commercial aircraft program. Against the backdrop of restored certification authority, rising production and record backlog, the proposal suggests Boeing has entered a different phase of its recovery—one where ordinary regulatory scrutiny, rather than extraordinary intervention, is becoming the norm.

JBizNews Desk | Washington

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New York City administration officials took a stride toward spurring more office-to-residential conversions by expanding a long-term financing option used in clean energy construction.

In late June, the city made embodied carbon eligible for financing under its Commercial Property Assessed Clean Energy program, known as C-PACE. Embodied carbon refers to emissions locked into a building’s existing concrete, steel and glass.

It’s the kind of bureaucratic tweak that rarely makes headlines outside real estate finance circles. For the Big Apple, it could help city leaders turn more obsolete buildings into much-needed housing.

The city is the only municipality nationwide to implement the embodied carbon change. Colorado is the only state where embodied carbon is included in law.

This change became effective shortly before structural problems at one of the city’s largest conversion projects raised safety and cost concerns last month.

Ensuing conversations focused on design and engineering hurdles as inspectors swept through the city checking other projects. They found problems but determined none presented a hazard to public safety.

The episode also served as a reminder that conversions cost more than planned, and funding can be difficult to secure.

That discussion comes as the city has long been a standard-setter for office-to-residential conversions, with a pipeline to prove it. Manhattan alone has 19.2 million square feet of conversions underway, according to Avison Young‘s second-quarter 2026 Manhattan office report.

Much of that momentum traces back to a tax break state lawmakers passed two years ago. The 467-m program exempts qualifying conversions from property taxes for up to three years during construction. Exemptions can last 25 to 35 years afterward if at least a quarter of the units are income-restricted.

Financing picks up the pace

C-PACE started as a single pilot program in Berkeley, California, in 2008. Nearly two decades later, roughly 40 states plus Washington, D.C., authorize the financing. New York enacted law to allow the financing in 2009, updated it in 2019 to expand eligibility to new construction. New York City established its initial program in 2021.

Property owners repay the debt through a voluntary assessment on property taxes. That means the debt, which sits at the top of the capital stack, follows the property, not the owner.

“It won’t impair value or step in the way of bankruptcy or foreclosure,” Laura Rapaport, founder and CEO of C-PACE lender North Bridge, told HousingWire TBD.

Over the past two years, it has become an increasingly important lever for converting empty office towers into apartments.

Other cities show what’s possible once the financing lines up. In Washington, D.C., a 532-unit conversion called The Geneva closed $465 million in C-PACE financing this year through Nuveen Green Capital. It ranks as the largest such deal on record.

The deal demonstrates how this type of financing has “graduated from a supplemental tool to a foundational one,” according to Nuveen.

What the financing covers

This type of financing has typically covered upgrades like boilers, insulation and renewable energy systems. For new construction, it applies to energy-efficient and sustainable building elements.

C-PACE evolved directly from the green building movement. The financing blunted upfront cost barriers to eco-friendly upgrades and new construction that incorporated sustainable practices. Proceeds can come as the project starts or retroactively in a refinancing, with loan terms running as long as 30 years.

The funding question comes down to one number, which varies by state and city: the maximum loan-to-value ratio a C-PACE loan can reach. Texas raised its own cap last year, moving from 25% to 35% loan-to-value.

The change gives Texas developers meaningfully more room to lean on C-PACE within a capital stack. The state has facilitated more than $500 million in financing since 2015, according to the Texas PACE Authority.

Activity has picked up since the cap increase. Lone Star PACE, an administrator for the state program, announced Tuesday it closed $64.8 million across six deals in the first half of 2026. That followed $86.6 million across eight projects in all of last year.

“The Texas PACE Program continues to gain momentum because it addresses two priorities that are critical to today’s commercial real estate market: improving project economics and reducing long-term resource consumption,” Lee McCormick, Lone Star PACE‘s president, said in a statement.

One of the deals is a Houston mixed-use development that includes multifamily. McCormick expects demand to remain strong for the rest of the year.

The percentages set the outer limit of what C-PACE can realistically replace in a project’s financing. A 35% cap means C-PACE still must work alongside senior debt and equity, not instead of them, on all but the smallest deals.

In New York City, the cap now sits at 35% of a property’s as-stabilized or as-complete value.

Adding a layer

Policymakers addressing climate change have baked sustainability and energy-efficiency rules into building codes.

“What’s happened is that if you build to code or better than code in most markets, the code has become so stringent that you’re already checking a box to be energy efficient,” Rapaport said. “On a multifamily project, we can be up to 40% of the total project cost in most markets. Florida’s a great example of that.”

Florida instituted stricter building codes after Hurricane Andrew struck in 1992. It adopted a unified statewide code in 2002 that added hurricane-resilience standards.

Embodied carbon is a different kind of cost. Climate policy has mostly focused on a building’s ongoing energy use – not the carbon footprint locked into its materials before anyone turns on the lights.

Mining the iron ore, making the steel, pouring the concrete releases carbon. That carbon is “embodied” in the finished structure forever. Demolishing a structure and building new means paying that carbon price again. Reusing what’s already standing avoids it entirely.

That’s the logic behind New York’s move. When New York City created its program, Rapaport said it focused only on green improvements.

“There are no solar panels in Midtown Manhattan,” she said. “Nor is there hydropower.”

By letting C-PACE cover the cost of buying a building slated for reuse, not just retrofitting it, the city made preservation more competitive than demolition.

“That’s the most sustainable type of building,” Rapaport said.

This post was originally published on here. 

More than a dozen new bills will be introduced in the New York City Council this fall that aim to curb illegal electric bikes and scooters, one week after a 17-year-old riding an illegal motorized bike was hit and killed by an SUV. Speaker Julie Menin and several other council members announced plans to hold a hearing on September 30 on e-bike and e-scooter safety. Menin also released a list of 17 bills to be considered next month, including legislation that bans class 3 bikes traveling at 25 miles per hour, requires more rider data from third-party delivery apps, increases enforcement, and creates a task force to study street design, among others.

“Every New Yorker deserves to move around our city freely and safely, regardless of how they get around. But too many people have been seriously injured or killed in crashes involving illegal, high-speed e-bikes, e-motos, and e-scooters,” Menin said.

“We already have laws on the books, yet they are not being adequately enforced — and we must also examine what additional legislative solutions are needed to keep New Yorkers safe.”

Menin, along with Council Members Shaun Abreu, Harvey Epstein, and Oswald Feliz, will lead the hearing on September 30.

As the New York Times reported, a 17-year-old boy riding an illegal e-bike died last week after he collided with an SUV on Centre Street near City Hall, and a 49-year-old woman riding a stand-up e-scooter on the Upper West Side died last month after being hit by a driver. In May, two men died, one riding an illegal scooter and the other a regular bike, after crashing into each other in a bike lane on the Queensboro Bridge.

According to Menin, e-bike collisions are up 31.7 percent this year compared to 2025, with over 500 collisions involving e-bikes in 2026 alone. As Streetsblog reported, Menin did not specify that the majority of deaths and injuries were “people riding e-bikes, not people hit by people riding e-bikes.”

The city’s Department of Transportation found that between 2017 and 2025, 45 rider deaths involved illegal e-bikes that travel faster than 25 mph, accounting for 54 percent of all e-bike rider deaths during that period. During the same period, 14 rider fatalities involved stand-up scooters capable of traveling faster than 20 mph, representing 52 percent of all stand-up scooter deaths.  

A bill sponsored by Council Member Lynn Schulman would require delivery services to obtain a business license from the Department of Consumer and Worker Protection. Others ban the sale and rental of Class 3 bicycles with electric assists, require the police to report traffic enforcement involving e-bikes, increase penalties, and require third-party apps to submit data on drivers’ ID and location.

Additional bills will be introduced in the coming weeks that include more insurance requirements for delivery apps, trade-in incentives for unsafe devices, and “infrastructure changes to slow high-speed riding.”

Separately, Mayor Zohran Mamdani on Wednesday announced action to stop the sale of illegal e-bikes and scooters by issuing cease-and-desist orders to 42 online retailers.

Motorized stand-up scooters weighing more than 100 pounds or capable of traveling faster than 20 miles per hour, e-bikes capable of speeds exceeding 25 miles per hour, and seated mopeds that do not have and display a valid identification number are all considered illegal in New York.

The mayor said it should be up to the corporations, not every New Yorker, to know the law. Each penalty will result in a $2,000 fine for each individual infraction.

When asked during a press conference on Wednesday about the Council’s legislative proposals, Mamdani said he plans to work with the Council, but was more focused on immediate action.

He said he does not support bills that would require riders to register with the state.

“I think the focus of today is tackling the root causes of what has led to the loss of many New Yorkers’ lives,” Mamdani said when asked about the bill. “When it comes to registration for e-bikers, I do not believe that that would actually improve street safety, and that’s not an approach that I believe we should move ahead with.”

The Council voted to legalize e-bikes and scooters in 2020 to decriminalize the work of delivery workers, most of whom are immigrants of color. Under Mayor Eric Adams, the NYPD began issuing criminal summonses to riders for low-level offenses and mandated a 15-mile-per-hour speed limit for e-bikes.

Last spring, Mamdani rescinded the policy for minor violations. Instead, officers issue standard traffic tickets to cyclists, the same given to drivers.

The mayor said the 42 companies, including Amazon, Wayfair, and Walmart, which sell the illegal bikes, have until August 18 to comply.

RELATED:

The post How New York City plans to crack down on illegal e-bikes and scooters first appeared on 6sqft.

This post was originally published here. 

By Julia Parker – JBizNews Desk

LONDON — Indeed said artificial intelligence is creating a two-speed jobs market in the UK, with demand concentrating in experienced workers and roles directly tied to AI rather than lifting hiring evenly across the technology sector. The shift matters for employers, job seekers and investors because it points to widening skills gaps, higher pay pressure in specialist roles and weaker prospects for entry-level digital workers.

The jobs platform said its latest labour-market analysis showed AI-related hiring is becoming more selective as companies move from experimentation to implementation. Businesses are seeking workers able to deploy AI tools in commercial settings, manage data risk and improve productivity, while general technology roles are seeing less uniform demand.

“Demand is concentrating around experienced workers and roles directly connected to AI, rather than flowing evenly through the profession,” said Jack Kennedy, senior economist at Indeed.

The findings add to evidence that AI is reshaping hiring before it produces broad employment gains. For companies, the near-term effect is likely to be a reallocation of recruitment budgets toward machine learning, data engineering, AI product management and governance roles. That could raise labour costs in scarce-skill areas even as vacancies remain subdued elsewhere.

UK employers have been operating in a cooler labour market after higher interest rates, weaker growth and rising payroll costs curbed hiring. Data from the Office for National Statistics have shown vacancies falling from post-pandemic peaks, while wage growth has remained a key concern for the Bank of England as it assesses inflation pressures.

AI hiring may complicate that picture. Companies trying to automate customer service, software development, logistics and back-office processes still need senior staff to integrate systems and measure returns. That gives experienced candidates more bargaining power and leaves younger workers facing tougher competition for roles that once served as entry points into technology careers.

For business owners, the split creates an operational challenge. Firms that delay investment in AI skills risk falling behind competitors using automation to reduce costs or speed up decision-making. But those that hire aggressively may face high salaries and uncertainty over which roles will deliver measurable productivity gains.

Recruiters and training providers could benefit if employers turn to external hiring, certification and reskilling programmes to close capability gaps. At the same time, weaker demand for broader tech roles may weigh on staffing agencies exposed to lower-margin volume recruitment.

The shift is also relevant for investors watching enterprise software, outsourcing and recruitment companies. A labour market tilted toward AI specialists supports spending on tools and services that help companies deploy the technology, but it may also expose slower adoption among smaller firms with limited budgets.

Indeed’s analysis suggests AI is not producing a simple expansion in digital employment. Instead, hiring is becoming more concentrated around workers who can link the technology to revenue, efficiency and compliance.

That leaves policymakers and employers facing the same practical issue: how to broaden access to AI-related skills before the gap between senior specialists and the wider workforce becomes more costly.

JBizNews Desk | London

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

Marti Realty Group, an independent brokerage that operates as a team, has affiliated with Keller Williams City-View in San Antonio, Texas, and plans to take its new-home technology platform, New Home Buddy, national, Keller Williams announced on Thursday.

In 2025, Marti Realty Group (MRG), co-founded by Chris and Meredith Marti, generated $260.9 million in volume across 735 transaction sides, according to the announcement.

“We’re proud to welcome Marti Realty Group to KW, where our technology, education and nationwide network will help accelerate an already exceptional business while creating even greater opportunities for affiliated agents,” Wendi Harrelson, divisional leader at Keller Williams Realty LLC, said in a statement.

The move brings to Keller Williams an integrated new-home ecosystem centered on New Home Buddy, a platform that connects homebuilders, real estate agents and buyers. New Home Buddy currently displays new construction homes for a majority of national production builders operating in Texas and will now expand its offering across the U.S.

Beyond New Home Buddy, the Martis’ ecosystem includes Numouve, which is powered by Homeward and serves as its builder and new construction division. Numouve helps agents unlock buy-before-you-sell and cash-offer solutions for clients purchasing newly built homes, according to the announcement. These types of financing tools have become more important as buyers try to compete with cash and manage contingent sales in a higher-rate environment.

“We didn’t join KW simply to grow our team,” said Chris Marti. “We joined because KW believes in entrepreneurship, has unmatched scale, and a culture that supports everything we believe.”

MRG currently has 16 affiliated agents and 24 staff members. By plugging into Keller Williams’ national footprint and training infrastructure, Chris and Meredith Marti plan to expand the reach of their platforms to more markets and builder partners.

“We’ve built an incredible business independently, but we reached a point where the next stage of growth required us to live as Gary [Keller] does – thinking big, acting bold and succeeding through others. That’s exactly what we’re going to do, and that’s who KW truly is,” said Meredith Marti.

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

This post was originally published on here. 

United Wholesale Mortgage (UWM) president and CEO Mat Ishbia is pitching the lender’s $2.05 billion capital raise with Oaktree Capital Management and his family as a long-term strategic partnership to support the company’s growth.

But the high cost of the structure and dilution are weighing on investors, alongside the fact that it follows several setbacks for the company. UWM’s stock traded below $1 on Thursday morning, the day after the deal was announced.

“Oaktree is not just capital; they’re strategic partners of ours,” Ishbia said Thursday during a 30-minute online Q&A with shareholders and analysts. “If it was just capital, I could put money in myself, or we could get random people to put capital.”

He added that the transaction “was a strategic partnership with Oaktree because of their MSR background” that was also tied their knowledge and sophistication around capital markets. 

UWM is raising $1.65 billion in preferred equity, including $1.5 billion from Oaktree and $150 million from the Ishbia family, plus a $400 million rights offering. Oaktree has designated Nicholas Basso as a director of the board and Dante Quazzo as a non-voting board observer. The transaction will make the company’s equity cross the $3 billion mark, Ishbia said. 

A good deal 

The preferred equity has a 10% cash coupon — 13% if paid in kind — and the liquidation preference increases by 10% per year. By comparison, Ishbia said much of the money UWM currently borrows costs between 6% and 8%. UWM plans to use the proceeds to repay 2027 senior notes and MSR financing facilities.

BTIG analysts said UWM is paying the price to deleverage the business: “Given the high cost of capital we expect UWMC to look to prioritize the repayment of the preferred,” analysts said in a note on Thursday.

Ishbia did not hide that Oaktree is getting an attractive opportunity, saying that when “Oaktree makes a lot of money, so does every shareholder, so does UWM.” He added that, “I’m sure we could have gotten cheaper capital elsewhere, but is that the right long-term benefit?”

Regarding the financial impact, the cost of the preferred equity will be $165 million but will be offset by an estimated $125 million in lower interest expenses, according to Keefe, Bruyette & Woods (KBW) analysts. They estimate the preferred financing significantly reduces the economic value available to common shareholders, implying roughly 55% dilution.

They said the impact could be reduced if the company quickly generates cash by selling mortgage servicing rights (MSRs) and uses that cash to repay the preferred shares. Otherwise, the preferred financing could remain a costly drag on shareholder value.

“This partly reflects the fact that the capital need was much larger than expected, reflecting the $600 million reduction in equity [from Q1 to Q2] plus the decision to bring leverage down to 1.2x versus the earlier target of 2x,” KBW analysts said.

The preferred equity also includes warrants — 165 million shares at $2 and 165 million shares at $6. Ishbia said the company chose preferred equity with warrants instead of issuing common stock because, at current trading levels, it would create “significant and immediate dilution.” In addition, “permanent capital is a better upside for the business in our belief system,” he said.

Ishbia acknowledged that the warrants do create dilution. But it’s only real “at a high level when the warrants are in the money, and the average of the warrants is $4, which is significantly higher than our stock price. A lot of the warrants are at $6. This structure balances near-term capital with long-term shareholder upside,” he added. 

As UWM focuses on building equity and deleveraging, dividends were suspended. Ishbia said the company will “always evaluate every quarter with our board of directors.” Estimates are that the leverage ratio — non-funding debt to equity — will decline from 5.6x to 1.2x.

A failed acquisition

The questions from stakeholders come after several setbacks for UWM. The company failed to acquire Two Harbors Investment Corp., which is waiting for final state approval to close a deal with CrossCountry Mortgage. Ishbia called the outcome “unfortunate” and said litigation can be expected over some things that Two Harbors “did inappropriately.”

“The Two Harbors transaction was one of the strategies of helping from a cash, liquidity and equity perspective,” Ishbia said. “When that did not go the way we expected, we had another option. And it’s great to have options. Once again, Oaktree wrote a massive-size check to be part of this, to be next to me and UWM, and help us grow together.” 

According to Ishbia, if the deal had closed, the Oaktree partnership might not have happened as quickly. The “silver lining,” he added, is that Oaktree is a much better partner for us “than Two Harbors or anything else would have been.”

A bet against the market

UWM also suffered losses on a hedge position against Two Harbors’ MSR book, which weighed heavily on its second-quarter earnings. Traditionally, the company does not hedge its MSRs, using its origination platform as a natural offset to the servicing business. But Two Harbors would have doubled the size of its MSR book, significantly increasing risk.

KBW analysts said the GAAP miss for UWM in the quarter was driven by a $603 million loss on interest rate derivatives, which hedged the Two Harbors MSR portfolio — a standalone impact that equates to a $0.16 loss in earnings per share.

“Hedging in general in the mortgage industry is expensive, and it’s something I actually don’t believe in general,” Ishbia said. “When we did put a hedge on to protect against that risk, a lot of things happened. Let’s just be real with whether it’s a war, a lot of different things that happened that created the 10-year [Treasury yield] to go up, and then obviously the Two Harbors transaction went away, and so a confluence of events that created a hedge loss.”

Ishbia said UWM hit a certain risk threshold where the company “didn’t want to have more of an equity drain,” so it removed the hedge.

“Oaktree has a strategic perspective on this, and I’ll go through that with them after this process and whether we hedge going forward or not,” Ishbia added. “Once you have $3 billion in equity, you’re really not at a risk of the MSR values going down $400 million for this quarter or going up $400 million. It’s less relevant. But when you’re hovering around $1.5 billion or $2 billion, it becomes a little bit more relevant.”

Ishbia said the “market moved against us, and it’s a one-time event that won’t happen again,” signaling the company does not plan to acquire another company with an MSR book like Two Harbors.

This post was originally published on here. 

Stewart Title has acquired Lawyers Signature Settlements (LSS), a Frederick, Maryland-based title agency, expanding its presence in the Mid-Atlantic region.

Founded nearly 15 years ago, LSS provides residential and commercial title services across Maryland, Virginia, West Virginia and Pennsylvania.

“LSS has become one of the most trusted agents in the Frederick market and has earned an outstanding reputation through its commitment to service, deep local market expertise, and strong relationships throughout the community,” said Courtney Katunick, division president at Stewart Title.

“We’re thrilled to welcome the team to Stewart, as together we will expand opportunities for our customers while preserving the service excellence and trusted relationships that have made LSS successful.”

LSS owner and president Katrina Hallein said joining Stewart positions the company for continued growth while helping address evolving industry challenges.

“We are excited about the opportunities and possibilities that joining Stewart presents for the LSS team and our valued customers,” she said. “As a long-time Frederick resident, we take pride in serving our community and by joining Stewart, LSS is positioned to continue serving the Frederick area into the future.

“As the title insurance industry evolves there are more outside threats, such as wire fraud, and having the financial strength and backing of Stewart will be important to our long-term success.”

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

This post was originally published on here. 

The shekel’s rise to levels not seen in decades was interpreted by the markets as a vote of confidence in the Israeli economy. Yet in the economy’s strongest sector, that same sign of strength sounds more like an alarm bell.

What appears from the outside to be a badge of economic excellence looks from within like a sharp cut in revenue: the dollars keep coming in, but once converted into shekels, they are worth far less.

Over the course of a year, the dollar lost more than 20 percent of its value against the shekel, falling in June to around NIS 2.8, the lowest exchange rate since 1993. For the general public, a strong shekel makes flights, cars and imported goods cheaper.

For a technology company, however, the calculation works in reverse. Israeli high-tech companies sell primarily outside Israel, and their revenues are denominated in dollars.

Investments in Israeli start-ups are also made in the US currency, while most of their expenses are paid in shekels.

The shekel has strengthened against the dollar, so why aren't we feeling relief at the supermarket? (credit: REUVEN CASTRO)

A company that raised $100 million could, a year ago, use that money to cover salaries and expenses of up to NIS 360 million. Today, it is left with only NIS 300 million.

Not a single customer has been lost, and no investor has withdrawn, yet almost one-fifth of the company’s shekel-denominated income has disappeared.

Wix illustrates the growing pressure

Consider Wix, a symbol of Israeli success. For years, the company sold businesses and entrepreneurs the ability to build a website without any programming knowledge.

It was part of a revolution that made website development simpler, more accessible and less expensive, and also reduced, to some extent, the need for professional website developers.

Now a new, faster and more powerful technology has arrived, one that has seemingly made Wix itself redundant. Artificial intelligence tools can build, write, design and improve digital products within minutes.

Wix must reinvent itself in the age of artificial intelligence. But when such a structural transformation is accompanied by a roughly 20 percent cut in shekel-denominated revenue caused solely by the exchange rate, the consequences are swift.

The company announced that it would dismiss 1,000 employees, about 20 percent of its workforce. The main reason?

“A very significant share of expenses is denominated in shekels, while the vast majority of revenues are denominated in dollars.”

This is not a marginal problem. High tech, as the familiar saying goes, is the engine of the Israeli economy. It accounts for nearly 20 percent of Israel’s GDP and more than 50 percent of its exports.

Because Israeli technology companies operate in a global market, they cannot simply raise their prices. They must cut costs, dismiss employees or relocate jobs abroad.

A series of companies have already announced cutbacks and layoffs.

AI is changing both the products the industry creates and the way its workforce is structured, while the strong shekel is making Israeli employees even more expensive.

At an exchange rate of NIS 2.8 to the dollar, an Israeli engineer earns more than an engineer in Silicon Valley.

Government moves to support start-ups

Once the government understood the scale of the problem, the Finance Ministry convened emergency meetings and rapidly approved an assistance package for the technology sector, focused on start-ups.

The package is worth approximately NIS 1.6 billion, of which around NIS 1 billion is intended to provide rapid support to start-ups. The grants are aimed at companies whose runway has shortened to one year or less and are intended to help extend it by approximately six months.

This is not an attempt to save every technology company or compensate large corporations for currency risks they are capable of hedging.

The objective is to prevent a temporary shock from wiping out young companies with promising technology just before they reach the market.

In the long term, Israel will have to adjust to a stronger shekel. Since June, amid heightened security tensions, the dollar has returned to above NIS 3, although it remains roughly 15 percent below its level a year ago.

But a significant easing of security tensions, progress in relations with Iran or normalization with Saudi Arabia could restore confidence and trigger another wave of investment in Israel.

As recent years have shown, conditions in the Middle East can change in an instant.

The government should not fight a trend that reflects a strong economy. But it is trying to make the transition smoother and prevent companies from making decisions in a state of panic.

Even a powerful locomotive can be derailed when the tracks change too quickly.

The writer is an economic commentator and public policy researcher.

This post was originally published on here. 

Dozens of suspected bot accounts on X/Twitter are amplifying content from New York City Mayor Zohran Mamdani and his circle, and reportedly can be traced to New York City Hall IP infrastructure, the World Zionist Organization told The Jerusalem Post exclusively.

As part of its activities against the waves of antisemitism online, WZO’s dedicated Department for Combating Antisemitism was presented with data and findings collected by cyber experts specializing in the field.

The information included an analysis of IP addresses and mapping of activity patterns and distribution networks of suspected bot accounts.

WZO’s technological examination of activity on the X network points to dozens, if not hundreds, of accounts with unusual characteristics. The Post independently consulted the cyber experts involved, who said they are “100% sure” the IP addresses could be traced to city hall, although it did not provide evidence establishing who controlled the accounts or whether city officials directed their activity.

New York City Mayor Zohran Mamdani speaks about Israeli Prime Minister Benjamin Netanyahu at an unknown location, in this still image taken from handout video released July 21, 2026. (credit: NYC Mayor's Office via Youtube/Handout via REUTERS)

WZO examined unusual X accounts amplifying Mamdani

An examination of activity on X identified a broad group of accounts displaying unusual activity patterns that were remarkably similar to one another: hundreds of tweets and shares per day, an extremely high rate of repeated posts, newly created accounts or accounts with little personal activity, partial profile descriptions, and sometimes usernames that appear automated.

The WZO research team estimated that there are hundreds of suspected bot accounts, with more appearing each day.

The main common denominator among the accounts is their consistent tendency to amplify content originating from Mamdani’s official account, city accounts, and accounts belonging to political allies and officials identified with the mayor.

The report presented to the Post documents dozens of accounts with a similar behavioral fingerprint. In many cases, 96% to 100% of the accounts’ activity consisted of repeated sharing, and no original content was found on them.

One indicator, the analysts said, consistent with bot activity was the number of daily posts. Several accounts recorded activity of more than 500 posts per day, with extreme cases exceeding 800 or 900 tweets daily. This level of activity is difficult to explain as normal human behavior.

For example, the account @SnoopyLima13 recorded 955 tweets per day, with a repeated-sharing rate of 100%. The account @CatCat2005689 recorded 864 tweets per day, also with a 100% repeated-sharing rate.

It is important to clarify that an unusual activity rate alone does not prove that an account is operated by software. An account could be managed by a person, use scheduling tools, or combine partial automation. However, the analysts told the Post that when such activity appears alongside repeated-sharing rates close to 100%, empty profiles, recently created accounts, and identical patterns across dozens of accounts, suspicion of automated or coordinated activity increases substantially.

NYC mayor’s account served as central point for bot army

According to the observed pattern, Mamdani’s account and municipal accounts frequently serve as starting points for amplification. A post appears on a central account and is then quickly shared by many accounts with unusual characteristics.

In some of the examined accounts, the repeated-sharing rate of the NYC mayor’s content reached 98% to 100%.

Some accounts were created only days before the analysis but were already capable of publishing hundreds of times daily.

For example, one account created three days before the examination, with no followers and only 13 posts, recorded 201 tweets per day and a 100% repeated-sharing rate.

According to the analysts, this pattern can increase exposure far beyond what would normally be achieved through organic distribution alone.

The more controversial or emotionally charged the message is, the more likely it is to receive additional shares, comments, and quotes.

This creates a self-reinforcing cycle, the analysts said. Initial accounts create volume; the volume causes algorithmic exposure; increased exposure brings reactions from real users; and real-user engagement further expands reach.

The result? Hundreds of percentage points of increased exposure and potentially millions of views, not necessarily because millions of people independently became interested in the original post, but because an unusual amplification system provided an initial boost.

For example, on July 27, Mamdani published a video from his office in which he said that he could not arrest Prime Minister Netanyahu in NYC, while accusing Israel of killing thousands.

The video received millions of views, with each bot responsible for generating massive outreach.

Was Mamdani’s communications team aware of the X bots?

Communications teams are generally responsible for managing official accounts, distributing messages, and coordinating responses.

Therefore, with a large network of accounts systematically amplifying the mayor’s posts and city messaging, the analysts said the findings raised questions of whether the communications staff were aware of the activity, whether it was reported internally, and whether there were any organizational or operational relationships between the actors.

Again, the information collected so far does not establish that the mayor, his staff, or the communications team instructed the accounts to operate.

The most valid conclusion with the information available is that there are significant signs of organized amplification activity around official and affiliated accounts, but the identity of the operators, the sources of funding, and the chain of command require additional investigation.

The findings do not, by themselves, constitute proof of identity or prove that operators received direct instructions from an official source, but they raise significant questions.

In light of the findings, WZO said it will appeal to Rabbi Yehuda Kaploun, the United States’ Special Envoy to Monitor and Combat Antisemitism, requesting that he forward the findings to US law enforcement authorities for examination and investigation into the suspected coordinated online activity.

“There is a need for a thorough, professional, and independent investigation into these hate-amplification operations,” Yifat Ovadia-Luski, head of the Department for Combating Antisemitism at the WZO, told the Post.

“Today’s antisemitism begins online and then moves into the streets, and the spread of hatred on social media is a central driver of that incitement. This is a well-oiled influence machine designed to shape the international arena, and it is making Jews feel less safe in New York City and across the United States.

“We cannot stand by. We are calling for intervention by the US federal authorities.”

Mark Goldfeder, CEO and director of the National Jewish Advocacy Center, told the Post that NJAC is referring the matter to the Department of Investigation and the Conflicts of Interest Board. It is also requesting the city hall server logs.

“City employees may not use public resources for political messaging, and public officials may not deceive the public they serve; that has been New York law since long before anyone wrote a bot,” Goldfeder told the Post.

The Jerusalem Post reached out to the US State Department and City Hall for comment, but they did not respond by press time.

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Michael Altneu recently joined REMAX as vice president of luxury, moving from Coldwell Banker, where he led the brokerage’s global luxury division.

Altneu, who started at REMAX in May, is charged with growing The REMAX Collection and reshaping the franchise giant’s luxury strategy, according to a company announcement on Thursday. His remit includes potential partnerships, program refinements and expanded services aimed at improving REMAX luxury agents’ competitive position with affluent buyers and sellers.

Altneu previously spent five years overseeing Coldwell Banker’s global luxury division, including a marketing platform and a certification program for luxury specialists. Before that, he was senior vice president of marketing at Douglas Elliman, where he focused on new development projects in New York City and Los Angeles.

Altneu is expected to focus on what the company describes as a lifestyle-driven relationship model, aligning REMAX luxury agents with “the brands, experiences and passions that matter most to affluent consumers.” That approach reflects a broader industry shift in which luxury programs are evolving from logo-and-signage campaigns to full ecosystems that include events, cross-brand partnerships and niche lifestyle marketing.

“Michael is an incredible addition to the team,” REMAX president and chief growth officer Chris Lim said in the announcement. “His background, skills and customer-first mindset will have a major impact on REMAX luxury specialists and the entire REMAX luxury operation.”

Altneu said REMAX can leverage its global footprint to give agents “an even stronger competitive advantage in the luxury market” by creating new resources, relationships and growth opportunities. He also emphasized collaboration with agents and owners as he refines The REMAX Collection, saying he plans to listen to the network to identify where new tools and services can drive the most impact.

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

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U.S.- and Israeli-linked vessels would be barred from transiting the Strait of Hormuz under a draft proposal reported by Iran’s state-affiliated Fars News Agency, sending oil prices sharply higher as traders concluded that the Trump administration’s effort to restore unrestricted commercial shipping may face a significant new obstacle.

U.S. West Texas Intermediate crude jumped more than 3% to around $78 a barrel, while Brent crude climbed nearly 4% above $82 after the proposal became public, reversing three consecutive sessions of declines fueled by optimism that Washington was nearing a breakthrough to restore commercial navigation through the world’s most important energy chokepoint.

The proposal immediately shifted attention from whether Hormuz would reopen to who would actually be allowed to use it.

The proposal, which remains under review and has not been adopted, would prohibit U.S.-flagged vessels from using the Strait of Hormuz. It would also block Israeli ships and commercial cargo linked to Israeli businesses. Beyond those restrictions, ships from countries Iran considers responsible for wartime damage could be denied passage unless compensation is paid, with penalties reportedly reaching as much as 20% of a violating vessel’s cargo value.

Unlike the separate Iran-Oman discussions over shipping procedures and traffic management, this proposal focuses on eligibility—who would actually be permitted to transit the waterway. Together, the two tracks raise the possibility that commercial shipping could resume without restoring equal access for American and Israeli interests.

That creates a direct collision with Washington’s publicly stated objective.

Throughout the week, Treasury Secretary Scott Bessent said negotiations aimed at restoring commercial shipping through the Strait of Hormuz were progressing and suggested an agreement could come within days. President Donald Trump likewise indicated an announcement could be imminent as the administration sought to restore freedom of navigation after months of disruption.

Iran’s proposal presents a fundamentally different framework.

Rather than restoring unrestricted commercial access, the draft would allow Iran to determine which countries and companies may use one of the world’s busiest maritime corridors. If implemented in its current form, American and Israeli shipping interests would remain excluded even if commercial traffic resumes for others.

A framework that restores shipping while excluding U.S.-flagged vessels would fall well short of the free-passage objective Washington has publicly promoted and would likely become one of the central issues in any broader understanding between the United States and Iran.

For businesses, the consequences extend far beyond geopolitics.

The Strait of Hormuz normally carries roughly one-fifth of the world’s oil and liquefied natural gas exports. American importers could increasingly depend on third-country carriers to move cargo through the Gulf, raising freight costs, insurance premiums and delivery times. Israeli-linked cargo would continue carrying elevated geopolitical and security risks, costs that shipping companies and insurers would likely pass through global supply chains.

Businesses importing energy, chemicals, manufactured goods and consumer products could ultimately see higher transportation expenses, with part of those costs eventually reaching consumers through higher prices.

Financial markets wasted little time reacting.

After three sessions of falling oil prices on expectations that a shipping agreement was close, traders quickly reversed course following reports of the Iranian proposal. The sharp rebound reflected growing skepticism that any eventual arrangement would restore unrestricted access for all commercial shipping.

The proposal also underscores the continuing gap between Washington’s expectations and Tehran’s public messaging. While U.S. officials have spoken about restoring commercial navigation, Iranian officials continue to maintain that shipping arrangements are being negotiated with Oman rather than directly with the United States. The latest proposal reinforces Tehran’s position that, even if commercial traffic resumes, it intends to retain broad authority over which nations ultimately benefit.

The central question is no longer whether Hormuz reopens—but whether it reopens equally for everyone.

The proposal remains under review and could still be amended, delayed or rejected before becoming law.

For businesses, investors and consumers, Thursday’s market reaction served as a reminder that oil prices—and ultimately transportation and consumer costs—remain highly sensitive not simply to whether a Hormuz agreement is reached, but to whether that agreement delivers the unrestricted freedom of navigation the Trump administration has been seeking.

JBizNews Desk | Wall Street

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A proposed deal between Iran and Oman that would give Tehran control over ships entering the Gulf through the Strait of Hormuz is not easily workable due to US sanctions and restrictive insurance clauses on any payments, four industry sources said.

Until US-Israeli airstrikes at the end of February unleashed war in Iran, the narrow waterway between the Gulf and the Indian Ocean was the main route for about a fifth of world oil supplies and other vital goods. It was freely open to all ships with no fees.

Control of the strait has been the biggest sticking point in efforts to end the conflict.

Under the latest proposal, Tehran would be able to intervene if necessary with any inbound traffic, while outbound traffic would follow a route between Iran and Oman, with exit clearance granted through Oman after notifying Iran, a senior Iranian source told Reuters this week.

The ability of merchant ships to navigate international waterways “safely, predictably and without unnecessary impediment is fundamental to resilient supply chains, economic stability and energy security,” the world’s leading shipping associations said in an open letter this week.

Vessels at the Strait of Hormuz, as seen from Musandam, Oman, July 17, 2026. (credit: REUTERS/STRINGER/FILE PHOTO)

 ‘A toll in all but name’

Introducing compulsory charges through the strait for transit or service fees was “a toll in all but name,” the letter said, which was sent to the UN‘s shipping agency.

“It would establish a precedent that could undermine the internationally recognized legal framework governing straits used for international navigation and transit passage.”

What is known as a two-way traffic separation scheme was adopted by the UN’s shipping agency in ⁠1968 with the agreement of countries in the region. It created the current ship-routing system that splits sailing corridors through Iranian and Omani waters.

Iran is seeking fees of between 5% and 7% of the price of cargoes from ships using the strait, according to the senior Iranian official. Oman is discussing fees of around 3%, while Washington wants no fees at all.

The UN’s International Maritime Organization said it could not comment on reports of the proposals.

In July, the agency’s governing council said countries around the strait should guarantee the “non-discriminatory and unimpeded right of transit passage of all ships” through the traffic separation scheme and that passage should remain free of any tolls and charges.

 Fees would create compliance issues

For shipping companies and oil traders, any imposition of fees creates major compliance issues given the US has imposed sanctions on the Persian Gulf Strait Authority, which Iran set up in May to operate the waterway.

The US Treasury has also prohibited US persons from receiving services from Iran’s government related to a “guarantee of safe passage.”

Any payment could lead to asset freezes, the industry sources said. They declined to be identified due to the sensitivity of the matter.

A further complication is the introduction in late July by Lloyd’s Market Association of a clause for use by war underwriters that terminates insurance cover for a vessel if it has paid a transit fee, toll or other charge for passage through the Strait of Hormuz.

Ships sailing through the strait need to pay an additional war risk premium to ensure they have insurance if their ship is damaged during transit.

“Under the clause, insurers have no liability to indemnify any such payment and, where such a payment has been made, are discharged from obligations in respect of the relevant vessel,” the LMA said in July.

The LMA represents the interests of all underwriting businesses in the Lloyd’s of London insurance market.

Shipping companies were in a “catch-22” situation, one insurance industry source said, as the LMA wording prohibits insurers from covering shipowners who pay, while Iran aims to charge a toll.

This post was originally published on here. 

 A Ukrainian cargo aircraft parked near an explosive-laden drone found at Germany’s Leipzig/Halle airport on Tuesday night was carrying a payload of military ammunition, a group of news outlets including Sueddeutsche Zeitung reported on Thursday.

Forensic experts found that the explosives attached to the drone were of a high military grade, reported the outlets, which also included broadcasters NDR and WDR, citing a confidential police report.

Newspaper Bild, meanwhile, cited unnamed investigators as saying that a technical defect prevented the drone-mounted device from exploding.

Findings may raise stakes in counterterrorism investigation

Those findings potentially raise the stakes in a widening counterterrorism investigation of the incident at an airport serving as a major cargo and NATO military logistics hub that the German government has designated as critical infrastructure.

German Interior Minister Alexander Dobrindt said late on Wednesday that the drone incident constituted a hybrid attack and signaled an elevated level of danger.

The empennages of a DHL cargo plane and Ukrainian Antonov cargo planes at Leipzig/Halle Airport in Schkeuditz, Germany, August 5, 2026 (credit: REUTERS/AXEL SCHMIDT)

Dobrindt is due to host his counterparts from the Baltic states, Poland, Sweden, Norway and Denmark, among other nations, for a special summit on anti-drone defense in the northern German town of Flensburg at the end of August.

Police in the state of Saxony, where Leipzig/Halle is located, did not immediately respond to a request for comment on the media reports of the aircraft’s payload. The state’s public prosecutors’ office could not immediately be reached for comment.

German authorities, meanwhile, said on Thursday they were continuing the search for debris from an unidentified object that damaged another freight jet mid-air near the airport on the same night.

 Incidents disrupt one of Germany’s main logistics hubs

The drone was found close to several Ukrainian Antonov An-124 cargo airplanes, among the world’s biggest freighters, according to earlier media reports. A Reuters journalist saw police collecting evidence in the vicinity of one of the planes early on Wednesday.

Leipzig/Halle is the main base for NATO‘s Strategic Airlift International Solution, known as SALIS, which is helping to deliver equipment to strengthen the defense pact’s eastern flank using a small fleet of Antonov cargo planes.

The cargo jet that struck the unidentified object, meanwhile, had been performing a go-around due to the closure of one of the airport’s runways. It was lightly damaged in the collision and eventually landed in Hanover in northern Germany. Flights were suspended and several aircraft, including some operated by German logistics group DHL DHLn.DE, ​were diverted late on Tuesday. A spokesperson for Leipzig/Halle airport, which is also used by companies like Lufthansa Cargo LHAG.DE and Amazon.com AMZN.O, said on Thursday that operations were back to normal and no additional security measures had been implemented.

While German authorities have said the perpetrators of the incidents at the airport had not yet been identified, Roderich Kiesewetter, a lawmaker and a member of the parliamentary intelligence committee, blamed Russia.

The Russian Embassy in Berlin did not respond to an emailed request for comment from Reuters.

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In a rare show of bipartisanship, Democrats and Donald Trump’s conservative supporters both blame the president’s ties to the tech industry for his administration’s limited response to recent hacks carried out by OpenAI and Anthropic’s AI agents.

Two weeks have passed since OpenAI shocked the tech community with the disclosure that one of its AI agents went rogue and broke into AI company Hugging Face’s systems. The White House said it was monitoring the situation, and Trump said he was looking at controls on AI. Anthropic said it too had discovered some of its AI models had hacked into three companies’ systems.

Steve Bannon, a conservative media star and longtime Trump ally and former adviser, said the White House’s regulation of AI has been inadequate given the national security threat it poses, placing the blame squarely on Silicon Valley.

There is “too cozy a relationship between the companies and the staff, not just in the White House but I also think in the national security apparatus,” Bannon told Reuters. “Why would you allow them to be in control? You don’t. And I’m the anti-deep state, anti-administrative state guy, but you definitely need at least a rudimentary framework of some sort of regulatory apparatus,” to regulate AI, he added.

US Senator Ron Wyden of Oregon expressed similar concerns.

OpenAI, the creator of ChatGPT. (credit: SHUTTERSTOCK)

“Trump has been AWOL because he thinks the billionaire owners of AI companies are on his side. Instead of trying to fix these problems, Trump and his Republican allies are focused on blocking state AI laws and knocking down the basic protections that companies like Anthropic have placed on how their models are used,” the Democrat said.

Anthropic’s relationship with the government ruptured this year after it refused to allow the US military to use its ​AI models for mass domestic surveillance and fully autonomous weapons systems.

The White House and OpenAI did not respond to requests for comment. Anthropic’s spokesperson declined to comment.

Concerns over Trump’s ties to AI tech giants

Bannon and Wyden join a handful of voices across the political spectrum raising concerns that Trump’s ties to big tech could blind him to the dangers of AI and discourage him from taking meaningful action. Tech companies and their executives have donated over $300 million to support Trump’s 2024 reelection efforts and MAGA Inc, a political action committee aligned with the president. The president also appointed industry insiders to key posts.

The Trump administration said in June it would ask AI developers like OpenAI and Anthropic to voluntarily submit their AI models with advanced hacking capabilities for government cybersecurity tests before the companies release them to the public. The administration hasn’t yet released details about how the tests will work, but Reuters has reported that only a few models will be subject to the voluntary tests.

Democratic Congressman Gregorio Casar of Texas said Trump is “completely failing” to keep Americans safe from the dangers of AI.

“He took millions from AI billionaires. Now, in the wake of extremely dangerous AI cybersecurity problems, he says he’s set up a ‘voluntary’ review that no one has seen. Asleep at the wheel. Too busy cashing in to protect our jobs or national security,” he wrote in a post on the social media platform X.

AI companies executives among largest MAGA donors

AI company executives and investors were among the largest individual donors in 2025 to MAGA Inc.

OpenAI President Greg Brockman and his wife, Anna Brockman, gave a combined $25 million to the committee in 2025, according to Federal Election Commission records.

Venture capital firm Andreessen Horowitz, an investor in OpenAI, and firm co-founders Ben Horowitz and Marc Andreessen gave a combined $12 million since Trump’s second inauguration to the committee. The firm, its co-founders and the Brockmans did not respond to requests for comment.

Google investor Asha Jadeja, SpaceX CEO Elon Musk and Blackstone CEO Stephen Schwarzman gave at least $5 million each to the committee in 2025, according to FEC records. Blackstone is an investor in AI infrastructure, including an AI cloud venture with Google, one of the three leading AI developers in the US Jadeja, Musk, Schwarzman and Blackstone did not respond to requests for comment.

Amy Kremer, a right-wing organizer and Trump supporter who helped organize the January 6 rally that preceded the Capitol riot, accused the industry of building “a moat around the White House.”

Trump has also welcomed industry executives into his administration, most notably billionaire Elon Musk, who oversaw the president’s cuts to the federal workforce during the first few months of his second term. Musk spent over a quarter of a billion dollars to help Trump win the 2024 election, according to campaign filings reviewed by Reuters. Trump also brought on David Sacks, a Silicon Valley venture capitalist, as White House AI czar, along with Andreessen Horowitz’s Sriram Krishnan and Scale AI’s Michael Kratsios.

Sacks and Krishnan have since left the Trump administration, though Sacks is still an outside adviser to the White House on technology.

Sacks has advocated for the president to take a hands-off approach to AI regulation, arguing that rules will slow down the industry in its race against Chinese competitors. The Trump administration has tried to persuade Congress to pass a law curtailing state regulations of AI, an idea the US Senate overwhelmingly rejected.

Krishnan, Kratsios and Sacks did not respond to requests for comment.

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As orders from Israeli defense tech companies reached approximately $330 million in exports, the government met on Thursday with CEOs of some of the country’s top defense startups to discuss Israel’s defense strategy, which includes munitions independence, pushing for the development of “the next surprises,” and increasing defense exports.

The meeting was headed by the Defense Ministry Director General, Maj. Gen. (Res.) Amir Baram, with participation from CEOs of roughly 20 leading defense-tech companies.

According to a statement, Baram explained Israel’s long-term plans for the defense industry, with the main objectives being advancing Israel’s munitions independence, strengthening its qualitative and technological defense edge, and deepening cooperation with the defense establishment.

During the meeting, the ministry also unveiled that the $330 million estimated in orders to companies in the sector represents double the amount registered in the same period of 2025.

“One of our strategic goals is munitions independence in critical components – we cannot allow our operational capability to depend on a supply chain we do not control,” Baram explained. “This is a process that takes time, but it begins with the decisions we make every day, and you, the startups, are part of that solution.”

Defense Ministry's Director General, Maj. Gen. (Res.) Amir Baram with leaders of Israel's top Defense-Tech companies. (credit: ISRAEL DEFENSE MINISTRY)

The meeting was attended by the Head of the Defense Research and Development Directorate, Brig. Gen. (Res.) Dr. Daniel Gold, the Head of the Budget Department and Economic Advisor to the IDF Chief of the General Staff, Brig. Gen. Nir Weingold; the Deputy Director General and Head of the Planning Department, Racheli Chen; the Deputy Director General and Head of the Defense Procurement Directorate, Ze’ev Landau; and additional senior officials.

Companies represented at the forum included Xtend, SpectralX, SpearUAV, Intact, Dream, Ottopia, Skana, Airis, Esh-Tech, OZ, Kela, ShiftersAI, Next Dim, SmartShooter, Ondas, Classiq, Heaven Drones, and others.

Both startups and major manufacturers

Baram also explained that the path to munition independence would be reached only if both local startups and major defense manufacturers work together, with the government not interested in “choosing one or the other.”

“We want healthy competition that drives innovation and competitive pricing, and we want partnerships that allow small, agile capabilities to integrate into large, proven systems. This is a balance we expect every player in the industry to respect, in accordance with our code of ethics,” he said.

He also announced that Israel plans to assist every component of the defense-tech sector, including “entrepreneurs, venture capital investors, government funding, long-term contracts that provide certainty, and exports that open additional markets.”

At a time when Israel has seen pushback regarding its defense industry, especially in Europe, Baram has been instrumental in expanding Israel’s cooperation with other countries. He told the companies that the ministry plans to broaden the strategic partnership with the United States as well as other countries.

“Defense-tech is part of the State of Israel’s unique advantage, built on combat-proven capabilities that Israeli talent has successfully demonstrated on the battlefield time and again,” he continued.

As exports gain central stage, experts push for shipments to Australia

Amid this push by Israeli authorities to improve defense exports, experts at a Tuesday conference in Haifa about the defense-tech sector explained that local companies must take the opportunity of entering the Australian market.

The event was organized by HiCenter Ventures, an investment fund dedicated to accelerating Haifa’s technological entrepreneurial ecosystem, and the New Zealand-Israel Innovation Hub.

Ilana Averkin, head of defense-tech at HiCenter Ventures, said, “Israeli defense-tech startups should set their sights on the Australian and New Zealand markets. They offer a unique combination of massive available budgets, an urgent demand for innovation, and an opportunity to bypass the ‘valley of death’ found in the crowded US procurement market.”

Speakers at the event included Lior Hanuka, CEO of HiCenter Ventures; Josh Brown, Executive Director and Founder of the New Zealand-Israel Innovation Hub; Ilana Averkin, Head of defense-tech at HiCenter Ventures; and David (Dedi) Haziza, Founder and CEO of NexTenna.

“New Zealand and Australia are currently looking for smart, fast, and cost-effective solutions, such as software, AI, and automation, to integrate into the expensive platforms they have already purchased from the Americans, presenting major opportunities for Israeli startups,” Averkin added.

She also explained that a successful pilot in New Zealand or Australia can open the door to a deeper role in the defense establishments of the United Kingdom, Canada, or the United States, as the defense establishments of all these countries are fully integrated.

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Every profession sorts itself into a family. Ask a biologist to classify an animal and they do not go by just appearance alone. They go by its underlying traits, the characteristics that reveal what it truly is and where it belongs. I would like us to run that same exercise on the real estate profession, because most of us have been filing ourselves under the wrong branch of the tree for a very long time.

For decades we have described ourselves with two words: “agent” and “salesperson.” I want to make the case that both words undersell us, and that we should retire them from the way we speak to buyers and sellers.

Let me be precise about one thing first. Some states legally require the term “salesperson” or “agent” on specific licensing and transactional documents, and no one should ignore state law. But a required label on a form is a legal formality. It is not a mandate for how we introduce ourselves, how we describe our role at the kitchen table, or how we frame the value we bring. In those human moments, the word is ours to choose from. 

I believe the right choice is “professional,” and the reason becomes obvious the moment you classify the work by its actual traits rather than its old label.

Start by noticing the company those two words keep in the rest of the economy. “Agent” describes the travel agent, the ticket agent, the gate agent and the person behind the rental counter. “Salesperson” describes the individual moving cars off a lot, furniture across a showroom, or televisions out of a warehouse store. These are legitimate jobs done by hardworking people. But if you classify them by their defining traits, they share almost nothing with what we do.

Run our profession through six characteristics and watch where we land

A license to practice. Nobody hands anyone the credentials to sell real estate on a whim. You qualify, you test and you earn a state issued license before you are permitted to represent a single client. The person selling sofas needs no such credential to start work on Monday.

The verb practice itself. Language tells the truth if you listen to it. We say a physician practices medicine and an attorney practices law, and we say a real estate professional practices real estate. You will never hear that a car salesperson practices selling sedans, because that word is reserved for disciplines that demand continuous judgment and skill.

Ongoing continuing education. Our license is not a trophy to hang on the wall and forget. Every state requires us to complete education hours on a set schedule to keep it active, because the rules, the contracts and the law keep evolving. The retail floor has no such requirement. We do not qualify once, and then coast. We recertify, we renew credentials, and we keep validatingthat we are current and competent to guide people through one of the largest financial decisions they will ever make.

Errors and omissions coverage. Professionals whose advice carries real financial weight protect their clients with insurance built for exactly that risk. A furniture salesperson has no need for it. We do, because the consequences of our work are measured in someone’s savings.

Fiduciary responsibility. This is the trait that settles the question. When we represent a client, we are bound to loyalty, confidentiality, disclosure and the obligation to place their interests above our own. Those duties flow from real estate agency law and are echoed in the Realtor Code of Ethics. That is not a customer service courtesy. It is a legal and ethical duty, and it is the single clearest line separating a professional from a salesperson. The person selling you a car owes you no such thing. Their obligation runs to the dealership.

Now hold those same five traits up against the fields we rarely think to compare ourselves with. A physician holds a license, practices medicine, logs continuing education, carries malpractice coverage, and owes patients a fiduciary duty. An attorney holds a license, practices law, logscontinuing education, carries malpractice coverage, and owes clients a fiduciary duty. A financial planner is held to continuing education, carries professional liability coverage, and in many cases is bound by a fiduciary standard as well. Line them up trait by trait, and the pattern is impossible to miss.

By the only classification that matters, we are not a cousin of the rental counter. We are a siblingof medicine, law, and financial planning. That is the branch of the tree where our traits place us, and it has been true the entire time. We simply kept answering to the old name.

Powerfact: Classify the work by what it requires, not by what it has always been called, and real estate stops looking like sales.

If that is our real category, then our language should reflect it. This is not about arrogance, and it is not about looking down on anyone. It is about accuracy, and accuracy shapes how clients experience us. When a seller assumes you are just the agent, you do not need to deliver a speech. You model the better word, calmly and consistently. “As the real estate professional here, my job is to protect your interests from start to finish.” Say it enough times and it stops being a correction and starts being something people simply absorb.

Everything I teach comes back to a single idea. We are here to serve, not to sell, and to coach, not to close. You cannot fully occupy the seat of a trusted advisor while introducing yourself with a word designed for someone whose only task is to complete a transaction and move on.

A salesperson is measured by what they move off the lot. A real estate professional is measured by how well they protect the people who trust them, and the word you choose should carry that weight.

Darryl Davis, CSP, is a national real estate speaker, coach, and bestselling McGraw-Hill author with more than 40 years in the industry. He is the founder of the POWER AGENT® Program, where real estate professionals learn the scripts, dialogues, and strategies that help them serve at the highest level and build Next Level® careers. Start your free 30-day trial or join a weekly webinar at DarrylSpeaks.com.

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

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PennyMac Financial Services said Thursday that it has become the first large mortgage servicer to implement the U.S. Department of Veterans Affairs‘ (VA) new loss-mitigation waterfall, including the VA Partial Claim option, nearly four months before the agency’s Nov. 28 implementation deadline.

The rollout comes days after the VA finalized updates to its loss-mitigation and partial-claim policies, implementing provisions of the 2025 VA Home Loan Program Reform Act. The law established a permanent partial claim option after the wind-down of the Veterans Affairs Servicing Purchase (VASP) program left the agency without a long-term foreclosure prevention alternative for financially distressed borrowers.

Under the new program, eligible borrowers with VA-backed mortgages can have a portion of their missed mortgage payments covered by the VA to bring their loans current.

The amount, generally capped at 25% of the unpaid principal balance, is placed in a subordinate lien that requires no monthly payments and is repaid when the home is sold, refinanced or otherwise paid off.

The updated loss-mitigation waterfall also requires servicers to evaluate borrowers through a standardized sequence of foreclosure prevention options before initiating foreclosure. The new partial claim option is available to eligible borrowers who have recovered from a financial hardship and have successfully complete a three-month trial payment plan.

Pennymac said borrowers who have VA loans serviced by the company and are experiencing financial hardship can now be evaluated under the new waterfall.

The company attributed the early rollout to its proprietary servicing platform, Plaisse, which it said allows for rapid implementation of regulatory changes.

“Being the first large servicer to launch this loss mitigation waterfall says a lot about the strength of Plaisse and the team behind it,” Mark Acosta, the company’s chief servicing officer, said in a statement. “We built and own our servicing platform, so we can move faster. We used that speed to get more relief options in front of veterans, because a homeowner needs help the moment hardship hits.”

Pennymac said its compliance and operations teams previously used the same approach to implement programs created under the CARES Act and the VASP program.

The VA finalized the policy after months of industry feedback on draft guidance released in March, including removing a proposal that would have allowed some loan modifications associated with a partial claim to increase borrowers’ monthly payments by as much as 15%. Mortgage industry groups opposed that provision, arguing that higher payments could reduce the effectiveness of foreclosure prevention efforts.

The VA gave servicers an 180-day implementation period to update systems and train staff, with mandatory compliance beginning Nov. 28. Pennymac said its implementation allows eligible borrowers to be evaluated under the new framework well ahead of that deadline.

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

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US President Donald Trump’s Board of Peace has issued its first construction contract in the Gaza Strip, The Guardian reported on Thursday, citing a source familiar with the matter.

The project is a 150-person military outpost for Moroccan soldiers, the source stated, who would rotate in from a base in Israel. As currently planned, it will be 100 by 120 meters in area.

The base would be located approximately one mile from the Israeli border, within the area of Gaza’s territory that Israel controls, and would have a “quick extraction route” for the forces stationed there.

The Guardian also reported that, in earlier contract plans, the base was an initial phase for a larger, 5,000-person military base in Gaza.

The first phase, the earlier contract said, would consist of “tents and cots for forces to sleep, as well as chemical toilets and handwashing stations. At this phase, this is what we would consider habitable.”

World leaders gather during a charter announcement for US President Donald Trump's Board of Peace, in Davos, Switzerland, January 22, 2026 (credit: REUTERS/JONATHAN ERNST)

According to the Guardian, the contract was awarded to Arkel International, a Louisiana-based company that has previously worked for the United States government in Middle Eastern countries.

BoP official says contracts have not been finalized

A BoP official told the Guardian in an email that the Board and National Committee for the Administration of Gaza “are in the final stages of preparing several contract awards. None have been finalized.”

“One prospective contract concerns facilities to support the international stabilization force (ISF), which will assist in implementing the roadmap’s security and governance arrangements,” the official added. “This contract will be one of many that are essential for the future of Gaza.”

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A sustained decline in the U.S. dollar is squeezing Latin America’s food exporters, reducing profits on some of the products American businesses import most heavily—including coffee, bananas, avocados and agricultural ingredients used throughout the packaged food industry.

The financial pressure is straightforward. Most exporters sell their products in U.S. dollars while paying workers, transportation and operating expenses in local currency. As the dollar weakens, every export shipment converts into fewer local-currency earnings, even if sales volumes remain unchanged. In Colombia, industry groups representing coffee, bananas, avocados, flowers, sugar and palm oil argue the currency shift has become structural rather than temporary and are urging the incoming administration of President-elect Abelardo de la Espriella to adopt policies supporting exporters.

The Colombian peso has strengthened roughly 22% against the dollar since early 2025, climbing from about 4,308 pesos per dollar in January 2025 to roughly 3,334 by early July 2026—the strongest level in approximately six years. For exporters whose contracts remain denominated in dollars, that appreciation has sharply reduced local-currency revenue.

Coffee producers have been among the hardest hit. Economic think tank ANIF estimates that every 100-peso change in Colombia’s exchange rate shifts coffee export revenue by approximately 34 billion pesos, or about $10 million, assuming shipment volumes remain constant. Between September 2025 and May 2026, ANIF estimates coffee producers lost between 1.4 trillion and 1.6 trillion pesos in potential revenue compared with 2025 exchange rates.

Unlike many manufacturers, agricultural exporters have little ability to offset currency losses through higher prices. Colombian bananas compete directly with producers across Latin America and other global growing regions, leaving exporters with almost no pricing flexibility. The same pressure is affecting Hass avocado producers, who have invested heavily in expanding exports but now face shrinking margins despite steady international demand.

Operating costs are moving in the opposite direction. Export association Analdex says domestic freight expenses have risen nearly 30% this year while labor and energy costs have continued climbing, creating a double squeeze in which exporters earn less from currency movements while paying more to produce and transport goods.

For American importers, a weaker dollar does not automatically translate into cheaper food. Currency losses reduce growers’ profitability, limiting their ability to invest in replanting, equipment, maintenance and future production. Those decisions typically affect supply several growing seasons later, potentially tightening availability and placing upward pressure on prices long after exchange rates stabilize.

The export volumes involved are significant. Colombia shipped a record $1.309 billion of bananas in 2025, a 21.6% increase from the previous year, exporting approximately 133 million 20-kilogram boxes from nearly 53,000 hectares of farmland. The European Union purchased 65.8% of those exports, while the United States accounted for 17.3% and the United Kingdom 13.6%. Colombia also exports roughly 700,000 metric tons of coffee annually, a smaller volume than bananas but with substantially higher value per shipment.

Weather has compounded the industry’s challenges. Flooding damaged roughly 1,200 hectares of Colombian banana production, affecting about 2.3% of productive acreage before the onset of the dry season. Industry analysts now project banana exports could decline by roughly 5%, with losses potentially reaching 10% if El Niño conditions intensify.

Coffee markets face additional uncertainty from higher freight and energy costs linked to ongoing geopolitical instability, making it more difficult for exporters, traders and roasters to lock in long-term pricing agreements.

The impact reaches directly into the United States. Importers supplying New York’s Hunts Point Produce Market, specialty coffee roasters throughout Brooklyn and northern New Jersey, and supermarket wholesalers handling Latin American produce all face suppliers operating under increasing financial pressure. Exporters with shrinking margins often demand shorter payment terms, negotiate more aggressively and redirect shipments toward markets offering stronger returns. With Europe already purchasing nearly two-thirds of Colombia’s banana exports, growers have viable alternatives when deciding where to ship their products.

For investors and businesses, the broader lesson extends well beyond agriculture. A stronger local currency is often celebrated as evidence of economic confidence, but for export-driven industries it can function as a significant earnings cut. When revenues are earned in dollars while costs continue rising at home, even healthy demand cannot fully protect profitability.

JBizNews Desk | Bogotá

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

Former Israeli Ambassador to the United Nations Gilad Erdan on Tuesday launched a new Right-wing party ahead of the upcoming elections, alongside MK Yuli Edelstein, who recently departed from Prime Minister Benjamin Netanyahu’s ruling Likud Party.

Erdan said in May that he was working toward establishing a new right-wing party said and that he sees himself as a candidate for premier in a post-Netanyahu era.

Working toward a ‘government of national reconciliation’

Erdan had said he is trying to establish a right-wing party that “would not rely on extremists” in a May interview with Army Radio.

He said he was working toward a “government of national reconciliation.”

“There are hundreds of thousands of Israelis who have no alternative who do not want a coalition that relies on extremist sides,” he added.

MK Yuli Edelstein speaks during a conference at the Reichman University in Herzliya, on January 13, 2026. (credit: Tal Gal/Flash90)

Erdan served as Israel’s ambassador to the United Nations for four years, from 2020 to 2024. He previously served as Israel’s ambassador to the US.

He was a member of the Knesset for Likud for years and held several ministerial positions under Netanyahu.

Erdan’s ministerial record covers a wide range of portfolios: environmental protection minister, communications minister, interior minister, public security minister, strategic affairs minister, public diplomacy minister, and regional cooperation minister.

Edelstein left Likud after ongoing tensions

Throughout the government’s term, Edelstein has been a vocal critic of the contentious haredi-backed legislation advanced by Netanyahu’s coalition, which critics argued would encourage draft evasion amid the IDF’s severe manpower shortage. 

He left Likud last month after ongoing tensions with the party.

Edelstein had also been ousted from his position as chairperson of the Knesset’s Foreign Affairs and Defense Committee after tensions with the Likud over the conscription law he was attempting to pass to increase haredi enlistment.

The party launch came after reports that senior figures on Israel’s political Right were holding talks on forming a new “statesmanlike” right-wing party, informally referred to as “Likud B.” Erdan has served in various ministerial roles under Netanyahu for years as a member of Likud.

Reports have noted that the goal of the party is to help create a broad government without extremist parties, amid polls showing no decisive shift between Israel’s political blocs.

Other reports have stated the party would not be committed in advance either to Netanyahu’s bloc or to a potential alliance led by rival candidates in the upcoming elections, former prime minister Naftali Bennett or Yashar Party leader Gadi Eisenkot.

This post was originally published on here. 

At dawn on July 28, the Islamic Republic of Iran publicly hanged Abolfazl Sepahi Badjani and Amirhossein Safari Hosseinabadi in Alikhani Square in Isfahan.

Security forces had filled the square overnight, and videos circulating online appeared to show people gathering in an attempt to stop the executions, before they were dispersed, with several reportedly injured and arrested.

The two men had been detained during January’s uprising and convicted in a mass case involving clashes in the square, the deaths of security personnel, and allegations of weapons possession and property destruction.

Rights groups said the convictions followed torture, forced confessions, and denial of independent legal representation. The two men were hanged at the same location where they had allegedly protested against the regime.

Four days later, guards at Shahrud Prison hanged Arvin Kheirkhahan, a young man arrested during the same uprising, without informing his family in advance. His relatives were instructed to collect his body in the early hours and bury him at 5 a.m. under security supervision. The judiciary issued no public announcement.

Portraits of Iranian protesters executed by the Iranian regime during protests in Iran are displayed during a demonstration at the Ergife Palace Hotel to condemn the silence of Western governments in the face of the growing wave of Iranian political executions, in Rome on July 16, 2026.  (credit: Andreas SOLARO / AFP via Getty Images)

One execution was conducted in a public square under the gaze of an entire city. The other was carried out before dawn, with the family denied even the opportunity to prepare for death. But both belong to the same campaign of internal repression carried out by the Iranian regime.

The Islamic Republic’s response to January, when an estimated 30,000-40,000 people were massacred in two days, did not suddenly end when gunfire emptied the streets. It continued through arrests, interrogations, forced confessions, Revolutionary Court proceedings, and executions carried out months after the uprising’s immediate energy had subsided.

The objective is to change what Iranians will be prepared to do the next time they confront the state.

“Right now, it is mostly focused on internal social engineering,” Khosro Isfahani, research director at the National Union for Democracy in Iran, told The Jerusalem Post.

The Iranian regime’s warning to its own people

Isfahani rejected the idea that the timing of executions is primarily governed by the rise and fall of negotiations with Washington or developments surrounding the conflict with Israel and the United States.

Instead, he placed the executions inside a domestic campaign aimed at a population facing economic collapse, political anger, and the memory of the January killings.

The regime’s warning, he said, is simple. “If you move, we are going to kill you.

“If you resist, if you fight back, we are going to find you, arrest you, and hang you.”

At least 26 people had been executed by July 28 after being convicted of offenses connected to the protests that began in late December 2025 and developed into a nationwide uprising in January. Kheirkhahan’s subsequent execution raised that known number further.

Amnesty International said at least 60 more protesters, including three who were children at the time of the alleged offenses, were under the death sentence and at risk.

Among those killed were Saleh Mohammadi, Saeed Davodi, and Mehdi Ghasemi, executed in Qom on March 19; Amirhossein Hatami, Mohammad Amin Biglari, Shahin Vahedparast Kolor, and Ali Fahim, executed in Ghezel Hesar Prison in early April; and Mehdi Rasouli, Mohammadreza Miri, and Ebrahim Dolatabadinejad, hanged in Mashhad in May.

The campaign continued in June with Ashkan Maleki, Mehrdad Mohammadinia, Fathollah Avari, Javad Zamani, and Abolfazl Saedi. Mohammad Amini Dehaghani was executed in Isfahan on July 15. Four days later, Erfan Esfandiari and Afghan national Gol Mohammad Mohammadi were secretly hanged in Dastgerd Prison. Mehdi Khanaki was executed on July 22, followed by the public hangings in Alikhani Square six days later.

‘When you kill a single person, the whole network around them collapses’

Many were convicted under broadly formulated charges, including moharebeh, or “enmity against Allah,” and efsad-e fel-arz, “spreading corruption on Earth.” Amnesty documented cases in which the alleged conduct included arson, damaging property, blocking roads, and disturbing public order – acts that, even if proven, would not meet international standards restricting capital punishment to the “most serious crimes” involving intentional killing.

Iran’s Revolutionary Courts have operated amid allegations of enforced disappearance, denial of lawyers, torture, and the use of forced confessions. It has been documented by human rights groups that January detainees were held in unidentified buildings and warehouse-like sites, threatened with sexual violence, and subjected to staged executions to force them to incriminate themselves and others.

Yet the individual court files are only one part of the message.

January’s protests and the subsequent state crackdown produced a significant change in how protesters responded to repression compared to previous years.

The protests were among the largest Iran had ever witnessed and appeared to mark a shift in the willingness of some demonstrators to confront the security forces rather than retreat in the face of violence.

The authorities’ subsequent response can be seen as an effort to impose a lasting deterrent. By demonstrating the potential consequences of resisting the security apparatus, the regime is seeking to contain public anger and reduce the level of personal risk Iranians may be willing to accept in any future attempt to challenge the Islamic Republic.

The massacres of January were intended to crush an uprising already in motion. The executions that follow months later extend that threat into the future. A protester who survives the streets may still be identified in footage, arrested after the crowds have dispersed, prosecuted behind closed doors, and killed once international attention has moved elsewhere.

By then, the psychological setting has changed. During an uprising, people draw strength from numbers, urgency and a sense of shared purpose. A prison execution months later reaches families, friends, colleagues and fellow protesters individually, after that collective momentum has faded.

“When you kill a single person, the whole network around them collapses,” Isfahani said.

The death of one prisoner therefore reverberates far beyond the victim. It disrupts the wider circle around them, weakens activist networks, and reminds those who remain that the state’s reach extends well beyond the day of protest.

“With executions, it has a ripple effect because it happens during a period of calm,” Isfahani said. The shock, he argued, reduces the willingness of those around the victim to expose themselves to the same risk.

The person hanged is the immediate victim, but the intended target is the network surrounding them.

The Contrast between public and secret executions is therefore significant, although no single formula determines which method the authorities use.

“It depends on the case and what’s the message that the regime wants to convey to the population,” Isfahani said.

Public hangings were once used more frequently in Iranian cities, including for ordinary criminal offenses, he said. They are now more commonly reserved for particular cases carrying a security or political message.

“The regime wants to convey a message of violence and fear in these cases,” he said.

The Alikhani Square hangings required witnesses, whereas Kheirkhahan’s execution was handled differently. There was no advance notice, no judiciary statement, and a burial was arranged before dawn. Maleki and Mohammadinia were likewise secretly executed, in Ghezel Hesar Prison on June 1, without their families or lawyers being notified beforehand.

Secrecy, espionage charges, and the Iranian machinery of repression

Secrecy limits the possibility of relatives gathering outside a prison, of supporters intervening before the sentence is carried out, or of a funeral becoming a political event. Families in political cases have reported state surveillance, restrictions on mourning, and pressure not to publicize what happened.

Uncertainty itself can also become weaponized by the regime, used to psychologically torment the population.

Isfahani said relatives may sometimes be summoned for what appears to be a final visit, only for the execution to be postponed. Warnings that a prisoner faces imminent death can be repeated multiple times.

“It’s like inoculating the society about the news,” he said. By the time the sentence is finally carried out, the initial urgency may have faded, and the public may be less prepared to mobilize.

Any charge, or combination of charges, eventually imposed on a protester may depend on what interrogators find, or claim to find, after arrest. Evidence presented in Revolutionary Courts often rests on coerced confessions, intelligence reports, and material extracted from detainees’ phones, with defendants given little meaningful opportunity to challenge how it was obtained or interpreted.

A video sent to an overseas broadcaster may be recast as cooperation with hostile media, or publicly available information may be claimed as the transfer of sensitive intelligence. Physical resistance to security forces can become moharebeh, while the same file may also be used to support accusations of espionage or collaboration with an enemy state.

This enables prosecutors to move between several overlapping categories of crimes.

Maleki and Mohammadinia were convicted of moharebeh over allegations that they set fire to a mosque and seminary in Tehran, but they were also sentenced under Iran’s intensified espionage law.

Khanaki, arrested in connection with the January protests, was accused of possessing weapons and conducting “operational activities” for Israel, the United States, and hostile groups.

Mohammad Amini Dehaghani’s alleged offenses included seeking contact with online accounts connected to opposition groups.

The Espionage Law allows protected activities, including sharing information about protests or human rights violations with foreign media, to be treated as intelligence activity, when the authorities deem them to be contrary to national security.

Iran undoubtedly faces genuine foreign intelligence operations, but the claim is often made that when the regime announces an execution on charges of espionage, it is more than likely for show.

When the state catches someone involved in serious clandestine activity, he said, publicizing the operational details may reveal where Iran’s security apparatus was vulnerable.

“The regime doesn’t want to reveal where it was vulnerable and hit,” Isfahani explained.

Executions near Iran are also preceded by a deliberate propaganda cycle, including state media reports of confessions, footage of protesters allegedly attacking security personnel, and amplified interviews with relatives of state security officers killed during unrest.

“Usually before the executions happen, you see a wave of propaganda around the case,” Isfahani said.

Naz Gharai, from Tehran, is covered in red paint as protesters call on the United Nations to take action against the treatment of women in Iran, following the death of Mahsa Amini while in the custody of the morality police, during a demonstration near UN headquarters in New York City on November 19 (credit: YUKI IWAMURA/AFP via Getty Images)

Iran casts protesters as foreign agents to justify repression

The state presents those on the streets as violent seditionists, then attributes their actions to Israel and the United States.

The executions offer an alternative account of January. Economic collapse, public anger, and opposition to the Islamic Republic recede from view, and in their place is an “American-Zionist terrorist conspiracy,” the phrase used repeatedly in official messaging. Protesters become “enemy operatives under the guise of protesters,” rather than citizens acting out of their own convictions.

Executions are the most extreme element of a wider campaign. Thousands of people arrested during and after January may never face the gallows, but many are receiving lengthy prison terms. Amnesty reported that more than 6,000 people were arrested after the US-Israel-Iran war began on February 28, as officials ordered accelerated prosecutions under “wartime conditions.”

Journalists, lawyers, activists, protesters, students, and members of ethnic and religious minorities were among those targeted.

Isfahani also pointed to increased hijab enforcement and the closure of cafés and other businesses accused of violating Islamic regulations, in contrast to the months before and during the protests, when the government saw more lenient enforcement as a way to regain control. Fewer morality police were seen on the streets enforcing the hijab, for example.

“It’s a multipronged campaign,” he told the Post. “It’s a multipronged social campaign by the regime to reestablish its control over the society.”

When Iran emerges from a security crisis, the authorities use executions to communicate that the state remains willing and able to kill.

Most members of the public do not study every charge or court file, but they repeatedly encounter the same news – more prisoners hanged in another prison.

“You don’t distinguish immediately in your brain who the person was, whether the charges were political or not,” Isfahani said. “You just absorb that message of terror. It’s psychological warfare.”

January revealed how much danger many Iranians were prepared to confront, and it led to the deaths of thousands. Now, the regime is trying to erase any defiance that may have survived.

But the scale of the repression betrays the fear behind it. It is the Islamic Republic, in trying to regain control of a disintegrating society through executions and repression, that is revealing its true fears.

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Iran’s attacks on Gulf nations and its disruption of maritime security should encourage closer cooperation between Europe and the Gulf, according to a report published on Wednesday by the Italian Institute for International Political Studies in partnership with the Gulf Research Center.

As demonstrated by fluctuating oil prices, Gulf security and stability have global consequences. Insecurity caused by the Houthis in the Red Sea, followed by disruptions caused by the Iran war in the Strait of Hormuz, has had a direct impact on Europe through rising insurance costs, higher shipping costs and delays to cargo movements.

To address these challenges, the institute said Gulf and European partners should consider establishing a permanent maritime coordination framework. It would connect naval forces, coast guards, port authorities, customs agencies and commercial shipping operators to develop common protocols for preventing risks and reducing disruption.

The framework would also improve maritime domain awareness, speed up information-sharing, strengthen counter-drone and counter-mine preparedness, and establish communication procedures during incidents. Its goal would be to preserve the movement of strategic goods even during periods of disruption.

The institute also recommended practical defensive measures to better protect critical maritime assets, including commercial tankers.

Vessels at the Strait of Hormuz, as seen from Musandam, Oman, June 26, 2026.  (credit: REUTERS/STRINGER)

It said precautionary technologies such as jamming and drone detection systems should be explored for large commercial vessels, including LNG tankers, given the demonstrated impact drones have had on this regional conflict.

ISPI report calls for permanent EU-GCC forum

The report also called for the creation of a permanent ministerial-level forum between the European Union and the Gulf Cooperation Council (GCC). According to the institute, such a forum would build on the existing EU-GCC Regional Security Dialogue by providing strategic direction, coordinating policy and supporting joint planning on maritime security, air defense and the protection of critical infrastructure.

As part of that effort, the report also recommended expanding information-sharing by integrating maritime and air surveillance data. It also proposed regular joint exercises involving Gulf and European military and civilian personnel to improve the protection of critical infrastructure.

These measures could also allow a joint Gulf-European task force to develop new protocols and strategies for responding to disruptions to major maritime trade routes.

According to the institute, the latest war demonstrated that strategic vulnerability is no longer limited to conventional military imbalances. Critical infrastructure and the systems that sustain economic activity and everyday life are increasingly vulnerable to hybrid threats, making cooperation between governments and the private sector essential.

European digital security could help Gulf infrastructure 

European expertise in cybersecurity and digital infrastructure could help strengthen Gulf critical infrastructure, which has repeatedly come under drone attacks by Iran and cyberattacks by Iranian-aligned actors. At the same time, Gulf investment capacity could help accelerate infrastructure modernization.

The report said this cooperation could be strengthened further through dedicated working groups focused on maritime and air security, critical infrastructure protection and defense industrial cooperation.

It also argued that Gulf and European partners should work together to anticipate future geopolitical, environmental, technological and economic threats. Developing mechanisms to prevent crises and manage potential escalations would improve collective resilience and adaptability.

To make their economies more resilient against hybrid attacks, the institute also recommended that Gulf states continue diversifying their economies. European companies in the maritime and defense sectors may be interested in investing in the Gulf’s growing defense industry through partnerships and joint ventures.

Finally, the report said the European Union’s Readiness 2030 initiative, which includes up to €800 billion in planned defense-related funding, could provide a suitable mechanism for expanding industrial cooperation and sharing technical expertise between Europe and Gulf partners.

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Baird & Warner has signed an exclusive agreement with Zillow to offer its agents access to Zillow Showcase at a 40% discount from standard pricing, giving the Chicago-area brokerage’s listings prioritized exposure and enhanced media on the portal.

The customized program, announced by the company on Thursday, is designed to drive more engagement for Baird & Warner listings on Zillow, according to the announcement. Baird & Warner agents will now have access to Zillow Showcase features like priority placement in search results, interactive floor plans and 3D tours, exclusive listing email alerts to buyers, highlighted markers on mapped search results and prominent agent branding with direct contact options on listing pages. 

According to a statement from Dean Rouso, the senior vice president of strategic initiatives at Baird & Warner, “Every aspect of Zillow Showcase is designed to create an immersive experience and increase time spent viewing a listing. Our agents will be able to tap those capabilities for a heavily discounted rate and have the benefit of a supportive team in place to handle coordination with the platform as well as exceptional visual assets from Baird & Warner Image Services.”

The program also incorporates AI-powered photo organization that is intended to better communicate a home’s layout and key features, guided room-by-room touring, and an exclusive staging visualization tool that lets consumers view multiple furnishing and style options. Zillow Showcase listings are the only listings on the portal that can include video, according to the announcement.

Baird & Warner said its customized Zillow Showcase package does not require a monthly contract and is offered on a pay-per-listing basis. Zillow generally caps Showcase inventory at 10% of active listings in a market, but Baird & Warner’s contract guarantees inclusion for its agents’ listings, according to the company.

The brokerage said it has also created a dedicated internal support team to manage Zillow Showcase coordination on behalf of agents.

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

This post was originally published on here. 

Mortgage application fraud risk increased in the second quarter of 2026 as purchase lending regained momentum and higher mortgage rates kept refinance activity subdued, according to Cotality‘s National Mortgage Application Fraud Risk Index released Thursday.

The index rose to a reading of 132 in Q2 2026, up 9.1% from Q1 2026, which Cotality says equates to about one in every 119 mortgage applications showing signs of fraud risk.

Despite the quarterly increase, the index remained 4.6% below its level of 138 in Q2 2025.

The property data and analytics company said the increase was likely tied to elevated mortgage rates, which limited refinancing activity and shifted a greater share of mortgage demand toward purchase loans.

“The Q2 data is very interesting as the rate cuts everyone was hoping for didn’t materialize,” Matt Seguin, senior principal of mortgage fraud solutions at Cotality, said in a statement. “Purchase loans historically have higher fraud risk due to the opportunity to commit fraud when compared to refinances.”

Seguin said many government streamline refinance programs require less borrower documentation, such as income, asset and appraisal information, reducing opportunities for fraud. “Purchase loans are the opposite and generally require those docs, which leads to more opportunities for mortgage fraud,” he added.

Overall mortgage applications increased 5.2% from the first quarter, while purchase loans accounted for 72% of all applications, up from 59% in the prior quarter. Government loans also edged higher, representing 24% of total applications.

Investment and multifamily properties drive risk

Among fraud categories, undisclosed real estate posted the largest year-over-year increase, rising 2.6%. Cotality said undisclosed real estate can conceal additional debt, occupancy misrepresentation or prior credit events such as foreclosures, defaults or short sales. The company attributed the increase in part to more applications for investment properties, where such alerts historically occur about 2.5 times more often than for owner-occupied homes.

Cotality also reported higher levels of transaction, property and occupancy-related fraud alerts during the quarter.

Transaction-related alerts increased for borrowers purchasing homes in states where they had not previously lived and for properties priced significantly below the homes they had previously owned. Property-related alerts rose for homes that appeared to have been flipped within the previous 12 months, particularly in markets with higher foreclosure activity and rising home prices.

Occupancy-related alerts also climbed, including applications in which borrowers claimed to be first-time homebuyers despite evidence they already owned real estate, listed a nearby property as a second home, or claimed owner occupancy while already owning higher-valued homes.

Investment and multifamily properties continued to represent the highest-risk loan segments. Cotality estimated that one in 44 investment property applications and one in 27 multifamily applications showed indications of fraud risk during the second quarter, compared with the overall industry average of one in 119 applications.

Investment and multifamily loans accounted for 12% of total mortgage applications during the quarter, unchanged from the first quarter. Cotality said these loans have historically carried fraud risk levels at least three times higher than the average mortgage application.

The company said it plans to release its annual Mortgage Fraud Report in September.

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

This post was originally published on here. 

Real estate brokerages are rapidly embracing artificial intelligence (AI), with just 2% reporting no plans to adopt AI in 2026, according to three-year analysis from the Delta Media Group Real Estate AI & Leadership Survey.

The report found that resistance to AI continues to shrink across the industry, while the adoption gap between mid-sized brokerages and the largest firms has disappeared.

“Every year we run this survey, the story is less about who is trying AI and more about who still has not,” said Michael Minard, CEO and owner of Delta Media Group. “That second group is nearly gone. When we started tracking this three years ago, non-adoption was a real category. Today, it is a rounding error and the brokerages in the middle of the market have fully caught up to the industry giants.”

The share of brokerages with no plans to adopt AI declined from 10.6% in 2024 to 4% in 2025 and just 1.9% in 2026. Meanwhile, the percentage reporting no AI use at all fell from 24.8% in 2024 to 11.9% in 2025 and 3.9% this year.

Brokerage leaders are also placing greater importance on AI.

Nearly half (47.6%) rated AI’s importance as an 8 or higher on a 10-point scale in 2026, up from 28.7% a year earlier.

Delta’s analysis found that mid-sized brokerages with 101 to 500 agents have now matched the industry’s largest firms in AI adoption. In 2026, both segments reported 100% agent AI usage.

The smallest independent brokerages, those with fewer than 10 agents, remain the only segment where adoption has been inconsistent from year to year.

Brokerage leaders are increasingly favoring AI capabilities delivered through unified technology platforms rather than standalone tools, researchers added.

The perceived value of all-in-one marketing platforms that include AI and automation rose to 7.3 out of 10 in 2026, the highest level recorded in the three-year survey.

More than half of respondents (51.5%) rated these platforms an 8 or higher, up from 41.6% in 2025.

“Brokerages are not just adopting AI piece by piece anymore,” Minard said. “They are consolidating around partners who can deliver it as part of one connected platform. Soon, we will reveal what that will look like for Delta customers.”

The analysis is based on responses from more than 100 brokerage leaders surveyed annually between 2024 and 2026.

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

This post was originally published on here. 

Senate investigators have obtained a copy of the iPhone Dr. Anthony Fauci used while running the government’s Covid-19 response, adding a potentially significant cache of records to a widening congressional inquiry. The Department of Health and Human Services transferred the device to the Senate Homeland Security Permanent Subcommittee on Investigations, chaired by Sen. Ron Johnson, R-Wis. According to Johnson’s spokesperson, the phone was used by Fauci during his tenure as director of the National Institute of Allergy and Infectious Diseases.

The disclosure landed hours before a separate escalation. On Thursday morning, the Senate Homeland Security and Governmental Affairs Committee voted 8-5, with two additional no votes by proxy, to approve a resolution holding Fauci in contempt of Congress. The vote fell along party lines, with all Democrats opposed.

What the Contempt Vote Does

The resolution follows Fauci’s July 29 appearance before the committee under subpoena, where he invoked his Fifth Amendment right against self-incrimination 111 times and declined to answer any question posed to him.

Ordinarily, a committee contempt resolution advances to the full Senate before any referral to prosecutors. Committee Chairman Sen. Rand Paul, R-Ky., told CBS News he intends to bypass that step and send the resolution directly to the Justice Department as a referral. Under the standard route, a floor vote would be subject to the filibuster; if the Senate did vote to hold Fauci in contempt, the Justice Department would decide whether to prosecute. A conviction carries penalties of up to $100,000 in fines and one to 12 months in prison.

Paul framed Thursday’s vote narrowly. He told the panel the question before it was “whether to hold a witness responsible for his contempt toward Congress” — not, he said, Fauci’s pandemic policies or public statements.

The Pardon Is the Legal Crux

The dispute turns on an unusual legal question, and it is worth spelling out because both sides are making a coherent argument.

Fauci received a pardon from President Joe Biden covering any offense from Jan. 1, 2014, through Jan. 19, 2025 — a grant Biden described as preemptive, given Republican scrutiny of Fauci. Republicans argue that immunity removes the risk of self-incrimination, and therefore removes the basis for invoking the Fifth Amendment. If you cannot be prosecuted, the reasoning goes, you cannot incriminate yourself.

Democrats counter that the protection survives the pardon. Ranking member Sen. Gary Peters, D-Mich., wrote to colleagues that a federal pardon does not extinguish Fifth Amendment protection where a witness still faces a “real and appreciable” risk of federal or state prosecution. That argument has practical weight: at least four Republican-led states have opened their own investigations into Fauci, and the 2025 pardon would not shield him from prosecution over anything said in present-day testimony.

Peters also warned of precedent. He argued that punishing a witness for asserting a constitutional protection would give future witnesses grounds to refuse to appear at all, and that they would cite this vote as justification. Democrats attempted repeatedly to table or postpone Thursday’s vote and were blocked by the Republican majority.

Fauci has characterized the inquiry in blunt terms. In his opening statement last week, he said Paul has “an unhinged obsession” with him and suggested the hearing was convened to trap him into lying under oath.

Why the Phone Matters

A device copy is materially different from a document production. Paper records are curated — someone decides what is responsive and what is not. A phone image captures text messages, call logs, app data and deleted-but-recoverable material in one pass, without an intermediary selecting what investigators see.

The phone follows an earlier transfer that reshaped the inquiry. Paul’s committee released more than 1,100 pages of Fauci’s personal journals covering 2019 to 2022. Health and Human Services Secretary Robert F. Kennedy Jr. said he located the files on government servers after an eight-month search and handed them to Paul and Johnson. The entries chronicled Fauci’s media appearances and interactions with journalists and public figures, alongside his concerns about the virus and frustrations with the federal response.

More may be coming. Paul and Johnson have received millions of additional Fauci-related pages from government servers and continue to press for more. Johnson said publicly that he hopes the device will answer questions Fauci declined to address at last week’s hearing.

The Unresolved Question Underneath

The investigation’s central allegation — that U.S.-funded research in Wuhan contributed to the pandemic’s emergence — remains contested rather than settled. A 2025 World Health Organization report, produced over three years by the 27-member Scientific Advisory Group for the Origins of Novel Pathogens, addressed the question directly, and its conclusions have not ended the debate in Washington.

For business readers, the durable takeaway sits slightly to the side of the political fight. This case is becoming a working test of how federal records law applies to personal devices used for official business, and of whether a pardon can be leveraged to compel testimony. Both questions have implications well beyond public health — for any executive, contractor or agency official whose work communications live on a personal phone.

JBizNews Desk | Washington

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Billionaire investor Bill Ackman warned that New York City’s rent freeze, tax policies and limits on development could worsen the city’s affordability crisis by discouraging construction and investment.

In a wide-ranging interview with Fortune published Wednesday, the Pershing Square Capital Management founder argued that government policy is driving up housing and energy costs in New York.

“The answer isn’t socialism – socialism is a disaster,” Ackman said. “Watch what happens to New York City if [Mayor Zohran] Mamdani succeeds in implementing these plans.”

Ackman said New York’s housing shortage stems in part from rules that make it difficult and costly for developers to build.

BILL ACKMAN SLAMS CALIFORNIA WEALTH TAX AS ‘EXPROPRIATION’ OF PRIVATE PROPERTY

“It’s so high because left-wing mayors have made it very difficult for developers to build here, and Mamdani, by freezing rents, is just going to make the problem worse,” he said.

New York City’s Rent Guidelines Board voted in June to freeze rents on one- and two-year leases for rent-stabilized apartments.

Ackman argued that rent controls can shift more costs onto tenants in market-rate units. He also claimed roughly 60,000 apartments have been pulled from the market because landlords cannot recover renovation costs under current regulations.

“If you make it hard to build where people want to live, and you don’t let landlords recover renovation costs, they’ll pull units off the market,” Ackman said.

He pointed to Austin, Texas, as an example of a city where increased construction helped bring rents down.

Ackman also blamed New York’s energy policies for adding to residents’ cost of living.

“Why are energy costs so high in New York State? Because we’ve shut down nuclear power, it takes 15 years to get a pipeline approved, and we’ve banned fracking – so we’re importing natural gas from Pennsylvania,” he said. “That’s just bad policy, and we can fix a lot of it with better policy.”

BILL ACKMAN MAKES $2B GAMBLE ON MARK ZUCKERBERG’S AI PIVOT WITH MASSIVE META STOCK PURCHASE

Ackman then turned to taxes, arguing that New York should encourage wealthy residents and businesses to invest in the city rather than risk driving them elsewhere.

“You want people like Ken Griffin locating Citadel here – spending $250 million on an apartment, because that purchase makes a building economically viable, which creates construction jobs and brings in wealthy residents who pay taxes,” Ackman said. 

He added, “You don’t want to discourage people like Elon Musk from locating their businesses here.”

Ackman has previously been critical of New York City’s new pied-à-terre surcharge, which applies to certain high-value properties that are not used as an owner’s primary residence.

He also criticized California’s Proposition 40, which could impose a one-time tax equal to 5% of the net worth of billionaires who were California residents on Jan. 1, 2026. 

“Look at what’s happening in California right now with the wealth tax – they say it’s ‘one time,’ but it’s never one time,” he said.

Ackman also said many Americans have not benefited directly from the wealth generated by the stock market.

STEVE HILTON WARNS CALIFORNIA ECONOMY WILL ‘ABSOLUTELY COLLAPSE’ UNDER ‘INSANE’ BILLIONAIRE TAX

“One of our biggest challenges as a country is that almost half the country isn’t participating in the growth in value created by capitalism – the stock market,” he said.  

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He argued that workers without retirement accounts or stock investments may be less likely to believe that the economic system is working for them.

“Part of that is people feeling left behind – wages can’t compound as quickly as stocks, so everyone needs to participate in the market to believe in capitalism,” he said. 

Mamdani could not immediately be reached by FOX Business for comment.

FOX Business’ Michael Dorgan and Alex Nitzberg contributed to this report.

This post was originally published here. 

As Israel approaches elections, too many politicians are promising to form a “Zionist government.” The phrase is presented as self-evidently virtuous, as though liberal democratic Israeli could not possibly object to it.

I object. I do not want what they call a Zionist government. I want an Israeli government.

I want a government representing all Israeli citizens who accept the common principles of liberal democracy and the values expressed in Israel’s Declaration of Independence. I want Jewish and Arab citizens, religious and secular citizens, conservatives, liberals, and social democrats to be able to participate in government according to their policies, their conduct, and their commitment to democratic rules – not according to their ethnicity.

Zionism was the national movement through which the Jewish people pursued self-determination in their historic homeland. Its central political objective was achieved in 1948 with the creation of the State of Israel.

The question today is not whether Zionism has historical legitimacy. The question is what is being done in Israel in 2026 in the name of Zionism.

The damage following an attack by Israeli settlers in the village of Tell, near the West Bank city of Nablus, July 25, 2026.  (credit: NASSER ISHTAYEH/FLASH90)

What is carried out in the name of Zionism?

Settlements are expanded throughout the occupied West Bank, not merely to provide housing but to prevent the territorial possibility of a Palestinian state. Roads, infrastructure, agricultural farms, security zones, public budgets, and administrative authority are used to deepen Israeli control and make political separation more difficult.

This is called Zionism.

Unauthorized outposts are established on Palestinian land and later supplied with electricity, roads, military protection, and public financing. What begins as an illegal act by ideological settlers is gradually transformed into official state policy.

This is called Zionism.

Palestinian communities are threatened, harassed, and sometimes forced from their homes and grazing lands. Armed settlers intimidate farmers, destroy property, attack villages, and use violence to alter the map. Too often, the army protects the settlers more effectively than it protects the Palestinians living beside them.

This is called Zionism.

Ministers speak openly of annexing most or all of the West Bank while opposing equal political rights for the millions of Palestinians who live there. They want the land without the people, sovereignty without citizenship, and permanent rule without democratic equality.

This is called Zionism.

Some political leaders advocate renewed Jewish settlement in Gaza. Others speak of “encouraging migration,” as though the removal of Palestinians from their homeland were a legitimate policy option rather than forced displacement.

This is called Zionism.

Arab citizens of Israel are told that their votes count but that the parties they elect are not legitimate partners in determining who governs the country. Jewish parties that attack democracy, equality, and the rule of law are still described as natural coalition partners, while Arab parties committed to peaceful political participation are excluded because they are not Zionist.

This, too, is called Zionism.

The judicial system is weakened, independent institutions are attacked, professional law enforcement is politicized, civil society is denounced as disloyal, and dissent is treated as betrayal. Loyalty to a particular nationalist ideology increasingly replaces loyalty to democratic principles.

This is called Zionism.

I am against all of these things.

Every Israeli who defines himself or herself as a liberal democrat should be against them as well. Jewish self-determination does not require denying the Palestinian people the same national rights we claim for ourselves. It does not require treating Palestinian citizens of Israel as permanent political outsiders. It does not require believing that Jewish rights are absolute while Palestinian rights are temporary, conditional, or negotiable.

Israel can remain the national home of the Jewish people. It can preserve Hebrew public culture, Jewish national holidays, the Law of Return for endangered Jewish communities, and a profound connection to Jewish history. But as a democratic state, it must belong equally to every citizen.

That commitment is present in Israel’s Declaration of Independence. The declaration promises freedom, justice, and peace. It pledges complete equality of social and political rights for all citizens, regardless of religion, race, or sex. It guarantees freedom of religion, conscience, language, education, and culture. It calls upon Arab citizens to participate in building the state on the basis of full and equal citizenship and appropriate representation in its institutions.

These words must not remain ceremonial language quoted on Independence Day and ignored for the rest of the year. They must become the basis of government.

When politicians promise a “Zionist government,” they mean a government from which Arab parties are excluded. Palestinian Arab citizens make up 20% of Israel’s population. They work in hospitals, universities, businesses, schools, local government, the judiciary, and every part of public life. They pay taxes and participate in elections.

Yet their political representatives are repeatedly told that they may not legitimately influence the formation of a government. Their votes are counted when seats are allocated but discounted when power is distributed.

The proper test for participation in government should not be whether a party defines itself as Zionist. The proper questions are: Does it accept democratic elections? Does it respect the law? Does it support equality? Does it reject political violence? Does it recognize the legitimacy of its opponents? Is it prepared to govern responsibly for the benefit of all citizens?

A Jewish party that rejects those principles is less fit to govern than an Arab party that accepts them. Arab citizens should not be required to adopt a Jewish national ideology as the price of political legitimacy. Jewish citizens should not be required to abandon their Jewish identity. We should all be required to accept a shared democratic covenant.

That covenant must include equal citizenship, judicial independence, freedom of expression, religious freedom, protection of minorities, civilian control of the security forces, rejection of political violence, and the state’s obligation to serve all its citizens. It must also include an end to permanent Israeli rule over the Palestinian people.

The next government should be formed by every party – Jewish or Arab – that accepts a common democratic platform. It should include all those committed to the Declaration of Independence, equality before the law, responsible government, and a political future based on two states and recognized borders.

Its members might disagree about economics, religion, education, public services, national history, and the precise terms of peace. They would not need to share one nationalism. They would need to share democratic rules.

The test of a good Israeli government is not how often its ministers use the word “Zionist.” The test is whether Jewish and Arab children receive equal opportunities; whether violence is prosecuted regardless of the identity of the perpetrator; whether public resources are distributed fairly; whether courts remain independent; whether citizens can replace their leaders; and whether the government seeks a future in which Israelis and Palestinians can live with freedom, dignity, and security.

I do not want a government of annexation, exclusion, Jewish supremacy, forced displacement, and permanent war, even if its leaders call it Zionist. I want an Israeli government grounded in the Declaration of Independence and liberal democracy.

I want a government that includes all Israelis who believe that the state belongs to all its citizens and that democracy must protect everyone.

Its members do not need a common nationalism. They need common democratic values.

This post was originally published on here. 

From Gaza, where war has reshaped every aspect of daily life, I ask a question that belongs not only to Israelis, Palestinians, or Lebanese, but to all humanity: Where is the voice of wisdom?

For too long, this region has measured time by wars instead of peace, by funerals instead of new beginnings. Every new round of violence deepens fear, hardens mistrust, and leaves another generation convinced that conflict is inevitable.

Yet history teaches us something different. Military victories may change realities on the ground, but they rarely resolve the deeper wounds that fuel conflict. Lasting security cannot be built on force alone. It also requires political courage, mutual recognition of human dignity, and a willingness to imagine a different future.

This is a moment that demands leadership of the highest order from Israeli, Palestinian, and Lebanese leaders. True leadership is not demonstrated only in times of war. It is demonstrated by the courage to end wars, protect innocent lives, and create the conditions for a just and lasting peace.

 An Israeli soldier operates, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in Gaza, January 8, 2024.  (credit: REUTERS/Ronen Zvulun)

The people of this region deserve more than survival. Israeli families deserve to live without fear of rockets and violence. Palestinian families deserve to live with dignity, hope, and opportunity. Lebanese families deserve a future free from recurring cycles of destruction. These aspirations are not contradictory – they are interconnected.

I write these words not as a politician, but as someone who has witnessed the human cost of conflict firsthand. My appeal is simple: let wisdom speak louder than anger, let dialogue replace endless confrontation, and let the next generation inherit bridges instead of battlefields.

The Middle East has produced enough tragedies. It is time to produce a different legacy – one defined by courage, reconciliation, and peace.

The question remains: Where is the voice of wisdom?

Perhaps the answer begins when leaders choose to listen – not only to their allies and advisers, but also to the millions of ordinary people who simply want this war to end.

The writer has worked for 44 years at the United Nations Relief and Works Agency for Palestine Refugees (UNRWA), where he has held several leadership positions, including head of the education program, head of the central area in the Gaza Strip, and adviser to the director of UNRWA operations on community affairs.

This post was originally published on here. 

A 70-year-old man died after contracting West Nile Virus, one of 10 confirmed cases since the beginning of the season, the Health Ministry announced on Thursday. 

The patient developed symptoms in July and was hospitalized due to complications from the disease. Most of the patients who had been confirmed to have West Nile Virus experienced symptoms typical of the disease, including fever, rash, and changes in consciousness. As of Thursday, three other patients remain hospitalized in good condition, and investigations are ongoing to identify where they were exposed to the infected mosquitoes.

“West Nile fever is a disease transmitted to humans through the bite of mosquitoes that feed on infected birds. In most cases, it is a mild disease without symptoms, but in rare cases, severe symptoms may also develop, such as inflammation of the brain or the membranes surrounding the brain. The risk of severe illness is higher among people aged 60 and over and people with underlying medical conditions, so it is particularly important to follow preventive measures,” said Prof. Sigal Sadetzki, head of the Health Ministry’s Public Health Division.

Mosquitoes infected with West Nile Virus have been found in Tel Aviv, Taybeh, Tira, and Kalansuwa, according to the Environmental Protection Ministry and the Health Ministry. The Environmental Protection Ministry instructed local authorities to expand their prevention, monitoring, public information, and pest control measures, and called on all authorities to increase efforts to combat public health pests. 

Public called on to help stop spread

Local authorities are responsible for removing hazards and nuisances caused by the pests in public areas, while the public is asked to help by following guidelines and reducing habitats for mosquitoes to breed. Public citizens are encouraged to drain sources of standing water, use mosquito repellent containing an active ingredient such as DEET, install screens on windows and doors, wear long, light colored clothing, and use a fan while inside the home, on balconies, in gardens, and in open areas. 

 A Culex quinquefasciatus mosquito is shown in this undated photograph on a human finger. The Culex quinquefasciatus mosquito is proven to be a vector associated with transmission of the West Nile Virus. (credit: REUTERS)

Mosquito hazards or sources of standing water in public areas should be reported to the local authority’s 106 hotline. 

West Nile Virus season lasts through November

West Nile Virus-infected mosquitoes grow more prevalent between the beginning of June and the end of November. The Environmental Protection Ministry’s pest and pest control team therefore conducts thousands of inspections for mosquito larvae and hundreds of captures of adult mosquitoes throughout the year, which are transferred to Health Ministry laboratories for identification and testing. 

While mosquitoes carrying the virus have been reported in southern Israel earlier this year, infected mosquitoes are now reported to have been captured in central Israel as well. 

The ministries stressed that the public’s reports to the local authorities are an important part of reducing mosquito hazards and allow authorities to focus their monitoring and pest control measures quickly and effectively. 

“In recent days, mosquitoes carrying the West Nile Virus have been captured at several locations in central Israel. A mosquito carrying the virus can transmit it to a person through a bite, thereby causing illness. The ministry issued detailed instructions to local authorities to take immediate measures aimed at reducing the risk to human health. Alongside monitoring and pest control measures, the public also has an important role in reducing mosquito hazards. Drying standing water and reporting it to the local authority will make it possible to significantly reduce the mosquito population and help protect public health and the environment,” said Dr. Shai Reicher, director of the Environmental Protection Ministry’s Pest and Pest Control Division.

This post was originally published on here. 

A body in an advanced state of decomposition was found in an open area near the Yarkon Interchange on Thursday morning during police searches for Eldar Dayan, a 23-year-old Dimona resident who has been missing for nearly three weeks.

Police confirmed later on Thursday that the body was Dayan’s.

The discovery came one day after orders were issued to transfer the investigation from the Dimona Police Station in the Southern District to the Sharon District Central Unit. Police said the transfer was made after the search operations and investigative avenues pursued by the Dimona station had been exhausted.

Dayan’s mother arrived at the scene later on Thursday, pleading to police to “take her to the child” and allow her to see the remains for identification purposes.

This is a developing story.

This post was originally published on here. 

Kurdish politics has undergone a dramatic transformation since Turkey launched its so-called “terror-free Turkey” initiative in October 2024 by engaging with the imprisoned PKK leader Abdullah Ocalan.

Ocalan, held on Imrali Island –  a Turkish prison island – since 1999, called for the unilateral dissolution of the Kurdistan Workers’ Party (PKK) and the start of what he describes as a “new peace and democratic society process.”

The announcement marked one of the most significant turning points in the movement’s history, dividing the PKK into two camps.

One, mostly of the long-term left-wing members of Turkish origin, accepted Ocalan’s decision without hesitation and moved to implement it. The other, mostly individuals of Kurdish origin, reacted with shock, questioning both the decision and the ideological direction behind it.

This split reflects a deeper pattern that has long defined Ocalan’s leadership: repeated ideological transformations.

 Syrian Kurds hold flags as they gather after Turkey's jailed militant leader Abdullah Ocalan called on his Kurdistan Workers Party (PKK) to lay down its arms on Thursday, a move that could end its 40-year conflict with Ankara and have far-reaching political and security consequences for the region, (credit: REUTERS/Orhan Qereman)

Over the decades, he has shifted from advocating Kurdish independence to promoting democratic autonomy and now to the far less defined concept of the “Free Kurdish Line” within a “democratic society” framework.

Each transition has required followers to abandon previous doctrines in favor of a new vision, often without meaningful internal debate. Yet while reshaping the future of his movement from prison and redefining its relationship with Turkey, we can read that some statements were made in Ocalan’s name that increasingly directed unfounded accusations against Israel.

These statements go through the filter of the Turkish control mechanisms established by the state authorities.

Rooted more in conspiracy theories than historical evidence, these claims have become more prominent in his recent writings and risk influencing generations of Kurds who continue to regard him as their principal ideological guide.

A recent letter by Ocalan’s fellow prisoner, Ergin Atabey of Imrali High Security F-Type Prison, outlines his latest ideological framework. It argues that “fully overcoming the system of annihilation will again be achieved through resistance, struggle, and construction of the Free Kurdish Line based on democratic society and democratic integration.”

Although the language is deliberately abstract, other passages make his argument clearer. According to this statement, the Kurdish “system of annihilation” originated with British imperialism and Zionism.

The statement, referring to Ocalan, traces Kurdish suffering to the Balfour Declaration and the Cairo Conference, linking them to “the rise of Zionism in the Middle East, the establishment of Proto-Israel, the capture of Mosul-Kirkuk, and Britain’s emergence as a hegemonic power in the region.”

It also speaks of a future “post-Israel” era, suggesting that Israel’s disappearance would fundamentally reshape the Middle East. In earlier writings, Ocalan even invoked the controversial term “Judenrat,” drawing misleading historical analogies that trivialize the Holocaust while distorting Jewish and Middle Eastern histories.

These anti-Israel and, at times, antisemitic claims are not only historically unfounded but also potentially harmful to the Kurdish movement, particularly for those who continue to see Ocalan as their ideological authority. Given his enduring influence, such narratives could damage the long-standing relationship between Kurds and Jews.

This raises three questions: Do the Turkish authorities manipulate Ocalan’s statements? if not, what has driven Ocalan toward increasingly hostile rhetoric against Israel? And how can the resulting damage to Kurdish-Jewish relations be mitigated?

Several explanations deserve consideration. First, more than a quarter-century of imprisonment has almost certainly shaped Ocalan’s worldview. Prolonged isolation can distort political judgment, making it harder to objectively interpret rapidly changing regional realities.

His recent writings often rely on sweeping historical narratives that oversimplify complex events. Second, Ocalan may be attempting to accommodate Tayyip Erdogan’s government as negotiations over the Kurdish question continue.

By adopting rhetoric hostile to Israel, a position that resonates strongly in contemporary Turkish political discourse, he may hope to improve the prospects for a settlement with Ankara. Such rhetoric may serve both political and personal interests.

At the same time, Ocalan may genuinely believe that Israel assisted Turkey in his capture in 1999, a perception that could have shaped his views ever since. Whether this anti-Israel rhetoric reflects genuine conviction or political calculation remains open to debate.

Likewise, it is unclear whether Ocalan’s decision to dissolve the PKK stems from a sincere belief that armed struggle has reached a dead end, from pressure exerted by the Turkish state, or from a broader capitulation that leaves the Kurds vulnerable to a regime that has long denied their rights without addressing their political grievances.

Whatever the explanation, his personal circumstances have inevitably influenced the direction of the movement.

Nevertheless, Ocalan’s historical claims do not withstand scrutiny. The Balfour Declaration had no connection to the partition of Kurdistan or the denial of Kurdish national rights after World War I. Linking these issues creates a false historical narrative that conflates the Palestinian and Kurdish questions despite their distinct historical trajectories.

Equally misleading is the claim that Zionism bears responsibility for Kurdish suffering. Historically, Jewish communities and later the State of Israel have generally expressed sympathy for Kurdish aspirations.

Israeli leaders supporting Kurdish self-determination

Israeli leaders have consistently supported Kurdish self-determination, recognizing the Kurds as a major non-Arab, non-Persian, and non-Turkish people with a long history of coexistence with Jews.

That support has endured, even as Israel’s ability to assist Kurdish groups has remained limited by geography, diplomatic realities, and security challenges.

By contrast, it was the Kurdish Muslim brothers in Ankara, Baghdad, Tehran, and Damascus that systematically denied Kurds their cultural, linguistic, and political rights throughout the 20th century. Kurds endured forced assimilation, displacement, and massacres, including those in Zilan, Dersim, Halabja, and many other places.

These tragedies were the result of the nation-state policies of the countries in which Kurds have lived for centuries, not Zionism. Although Kurdish conditions have evolved differently across the region, many of the underlying challenges remain unresolved.

Nor is there reason to believe that a hypothetical “post-Israel” Middle East would improve the Kurdish position. On the contrary, Israel has often served as an important strategic counterweight in a region where ethnic and religious minority populations have frequently faced discrimination and persecution.

Israel has historically viewed these communities, including the Kurds, as natural partners and has generally supported their aspirations for security, recognition, and self-determination.

Preserving constructive Kurdish-Israeli relations therefore remains in the interests of both peoples. Political disagreements and ideological shifts should not overshadow a longer history of mutual respect and shared experiences as minorities in a turbulent region.

Ocalan’s latest paradigm shift may reshape the PKK’s future, but it should not rewrite history or undermine the foundations of Kurdish-Jewish relations.

Professor Ofra Bengio, Director of the Kurdish Forum at the Moshe Dayan Center for Middle Eastern and African Studies at Tel Aviv University.

Dr. Veysi Dag, researcher at the Kurdish Forum at the Moshe Dayan Center for Middle Eastern and African Studies at Tel Aviv University. X: @dagweysi

This post was originally published on here. 

New American Funding (NAF) announced Thursday that it has added originators Shane Masterman and Christian Johnson to its Dallas-Fort Worth operations as the pair launch Cantera Home Lending within the independent mortgage lender.

Masterman and Johnson have originated more than $2 billion in residential mortgages over their careers and bring nearly 50 years of combined industry experience, according to the company.

Per the inaugural HousingWire Mortgage Rankings, Masterman produced a total volume of $69.14 million across 83 loans in 2025, while Johnson produced a total volume of $55.36 million across 110 loans.

The Cantera Home Lending team will operate on New American Funding‘s lending platform while offering a range of mortgage products that include conventional, Federal Housing Administration (FHA), Department of Veterans Affairs (VA), jumbo, portfolio, construction, renovation, reverse and specialty loans.

“I’m excited to welcome Shane Masterman and Christian Johnson to New American Funding. As two of the top 1% of mortgage originators in the nation and among the most respected originators in North Texas, Shane and Christian have built exceptional businesses by putting their customers and referral partners first,” Pat Bolan, chief production officer at NAF, said in a statement.

Per the company’s release, Johnson — who has more than 25 years of mortgage industry experience — specializes in financing for first-time homebuyers, move-up buyers, luxury homeowners and real estate investors. Masterman, who has more than 24 years of experience, focuses on jumbo, conventional, FHA, VA and complex mortgage financing for luxury homebuyers and investors.

“New American Funding is a company that is deeply focused on the business of mortgages and on the families behind every transaction,” Masterman said. “Their commitment to growing together, investing in industry-leading technology and products, and supporting their team at every level aligns completely with what Christian and I have always believed: that a mortgage is not just a financial transaction but a pathway to homeownership and long-term wealth building.”

Johnson said he and Masterman were struck by the “quality” of people at the company.

“Everyone we have encountered is genuinely focused on tailored service, flawless execution, and collaboration, all in service of helping people secure a home they can call their own,” he said in a statement. “That kind of culture is rare, and it told us everything we needed to know when choosing them as the partner for our team and our clients.”

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

This post was originally published on here. 

Abu Dhabi National Oil Company is changing how it prices every barrel of crude it sells, replacing the Murban futures benchmark it spent years building with a regional physical pricing benchmark as volatility from the Iran conflict continues reshaping Middle Eastern energy markets.

Beginning November 1, ADNOC will calculate monthly official selling prices for all of its Abu Dhabi crude grades—including Murban, Das, Umm Lulu and Upper Zakum—using prompt-month Platts Dubai pricing instead of Murban crude futures. Price differentials to Dubai will be announced during the month before cargoes load, bringing pricing closer to actual market conditions at the time of shipment.

The move ends a pricing framework that has been in place since the launch of the ICE Futures Abu Dhabi Murban contract in 2021. Under that system, buyers typically committed to prices roughly two months before cargoes loaded. The new approach shortens that timeline to approximately one month, reducing the disconnect between contracted prices and actual shipping conditions.

That timing matters. During the Iran conflict, freight rates, insurance premiums and security risks surrounding the Strait of Hormuz have changed rapidly, leaving refiners and traders exposed when oil was priced weeks before those costs became known. By narrowing the pricing window, ADNOC reduces the risk that customers pay based on market conditions that no longer exist when shipments actually depart.

The change also follows the United Arab Emirates’ departure from OPEC and OPEC+, which became effective May 1 and gave ADNOC greater flexibility over production and commercial strategy. Earlier this year, Platts removed the pricing floor linking Murban to Dubai after expanding Murban production increased its influence within regional crude markets. ADNOC’s decision now extends that evolution to its official sales program.

The reversal is notable because ADNOC spent years promoting Murban futures as the Middle East’s first internationally traded regional crude benchmark capable of competing with Brent. ICE Futures Abu Dhabi said it will continue listing Murban futures contracts that already have open interest while suspending future contract months without active positions.

In practice, the transition has already begun. Since June, ADNOC has been selling cargoes through spot tenders priced against Dubai differentials, making the formal announcement more of a confirmation than an unexpected policy shift. Market participants had largely expected any change to apply only to offshore marine grades, but ADNOC instead expanded it across its full production portfolio.

The company said the revised pricing mechanism reinforces its commitment to transparent pricing while continuing to meet all contractual delivery obligations. ADNOC also stated the change is not expected to materially affect outstanding debt securities, including bonds and sukuk issued under its financing programs.

Energy market specialists believe the implications could extend well beyond Abu Dhabi. Joel Hanley, Executive Director for Strategy and Development at S&P Global Energy, said aligning benchmark timing more closely with physical trading reduces basis risk and could encourage broader changes across global oil pricing systems. As Gulf crude increasingly trades on similar timelines, benchmark consistency becomes more valuable for both producers and buyers.

That possibility carries significance for American energy companies. Saudi Aramco, Kuwait Petroleum and Iraq’s state oil marketer all rely on similar official selling price systems. If other Gulf producers shorten their pricing windows as well, refiners, commodity traders, airlines and industrial fuel consumers could face meaningful changes in how they hedge Middle Eastern crude purchases and manage future fuel costs.

For businesses across the United States already navigating elevated diesel, jet fuel and freight expenses after two years of geopolitical disruptions, the new pricing mechanism will not necessarily reduce energy costs. It should, however, make pricing more closely reflect actual market conditions at the time oil is delivered, reducing one source of uncertainty in an energy market that has experienced little stability.

JBizNews Desk | Abu Dhabi

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

Halkin Mason Photography for Ballinger

The evolution toward compact, high-performance workplaces reflects one of several ways organizations are redefining value in a changing landscape. While not every company will reduce its footprint, those that do are finding new opportunities to align space more closely with purpose. By embracing flexibility, integrating technology seamlessly, curating meaningful amenities and engaging employees throughout the process, a smaller office can become a strategic advantage rather than a constraint.

Less space demands sharper thinking about what matters most and how design can support it. The organizations that succeed will be those that recognize there is no single model for the future workplace, but rather a range of strategies, and choose the one that best reflects their people, culture and goals.

As organizations explore this shift, the challenge moves beyond deciding whether to reduce space to understanding how each square foot can work harder. For those pursuing a smaller footprint, success depends not on doing more with less indiscriminately, but on aligning space with purpose in deliberate, measurable ways.

Designing for variability rather than certainty

One of the most pressing challenges facing workplace leaders today is unpredictability. For organizations pursuing a more compact footprint, this unpredictability becomes even more pronounced. Attendance patterns fluctuate by day, department and season, making traditional space-planning ratios increasingly unreliable. Fixed assignments – one desk per person, a predetermined number of conference rooms – often lead to underused areas at some times and congestion at others.

To address this, organizations are moving toward environments that are adaptable by design. Activity-based planning replaces rigid ownership with a spectrum of shared settings: focus rooms, open collaboration areas, informal huddle spaces and convertible rooms that can shift function as needed. In practice, this approach allows teams to move fluidly throughout the day, choosing spaces that match their tasks rather than being confined to a single workstation. In one pharmaceutical workplace, for example, an open office environment supports this flexibility through a range of settings paired with furniture systems designed to allow for adaptability and choice in how spaces are used. Rather than guessing how many people will be present on a given day, these environments absorb occupancy peaks and valleys without sacrificing usability.

Flexibility also extends to the physical architecture itself. Modular planning strategies –standardized room sizes, demountable partitions and furniture systems that can be reconfigured – allow spaces to evolve as organizational needs change and increase the longevity of the design. This approach acknowledges a simple reality: work policies will continue to change, and the office must be able to change with them.

Once flexibility is established as a baseline, the next hurdle becomes ensuring that collaboration still works when teams are split between home and office.

Making hybrid collaboration seamless

Hybrid work has blurred the boundary between physical and virtual presence, raising the bar for how offices support collaboration. In workplaces that have adopted a more space-efficient model, the challenge is magnified. There is little room for spaces that only partially work. When technology fails or rooms are poorly equipped, employees quickly question the value of coming in at all.

Successful compact offices treat technology as infrastructure rather than an add-on. Integrated room-booking systems, reliable audiovisual setups and intuitive controls allow meetings to start quickly and include both in-person and remote participants equitably. In one life science workspace, the individual workspace is replaced by large team rooms, anchored by robust audiovisual systems that enable seamless interaction between in-person and remote, global participants without compromising spatial efficiency. The spaces support hybrid interaction through thoughtful planning around sightlines, acoustics and lighting so that people joining virtually feel just as engaged as those in the room.

In one life sciences workplace, large team environments are anchored by robust audiovisual systems that enable seamless interaction between in-person and global, remote participants without compromising spatial efficiency.
In one life sciences workplace, large team environments are anchored by robust audiovisual systems that enable seamless interaction between in-person and global, remote participants without compromising spatial efficiency. Photo credit: Halkin Mason Photography for Ballinger

Equally important is aligning technology with behavior. Employees need to understand which spaces are best suited for focused work, confidential calls or collaborative sessions. Clear cues – through design, signage, and onboarding – help people use spaces as intended, reducing friction and maximizing the effectiveness of a smaller overall footprint.

With collaboration supported, attention can turn to a less tangible but equally critical factor: workplace culture.

Sustaining culture in compact environments

For organizations that have reduced their physical footprint, a common concern is that smaller offices will feel cramped or impersonal, undermining the sense of community organizations are trying to rebuild after years of remote work. In practice, the opposite can be true when space is designed intentionally.

Compact offices tend to concentrate activity, increasing the likelihood of spontaneous interactions that build relationships and momentum. The need to come into the office for many is weighed largely on the desire (or requirement) to have face-to-face interactions with colleagues, making supporting this type of activity even more critical.  Strategically placed gathering areas – near entrances, stairways or coffee points – encourage chance encounters without requiring large, dedicated lounges.

In a healthcare administration workplace, for example, shared amenities are deliberately positioned to support this dynamic: a central hub off the elevator banking is anchored by a collaborative pantry and enclosed meeting space.  This provides opportunities for both formal and informal connections throughout the day by bringing these features to the forefront of the workspace, to an area in which everyone circulates through multiple times a day. These moments of informal interaction often become the social glue of the workplace, reinforcing culture in ways that formal meetings cannot.

In a healthcare administration workplace, for example, shared amenities are deliberately positioned to support this dynamic: a central hub for meetings, both formal and informal, paired with a pantry along primary circulation paths, creates natural opportunities for connection throughout the day.
In a healthcare administration workplace, for example, shared amenities are deliberately positioned to support this dynamic: a central hub for meetings, both formal and informal, paired with a pantry along primary circulation paths, creates natural opportunities for connection throughout the day.
Photo credit: Halkin Mason Photography for Ballinger

Crucially, culture-driven design is not imposed from the top down. Engaging employees early through surveys, focus groups and pilot spaces helps surface what people actually value, whether that is quiet focus, mentorship opportunities or social energy. When staff understand the rationale behind space changes and see their input reflected in the outcome, they are far more likely to embrace new ways of working.

As culture is reinforced through design, amenities become the next lever for enhancing experience without inflating square footage.

Rethinking amenities for impact, not excess

In organizations operating within a reduced footprint, amenities must earn their keep. Lavish, centralized features that consume large areas are giving way to smaller, distributed elements that support daily routines. A series of modest coffee points, for example, can be more effective than a single oversized café, drawing people through the office and encouraging interaction along the way.

Wellness is another area where thoughtful integration matters more than size. Access to daylight, views and varied postures at the individual workspace often have a great impact on well-being and create spaces where people want to come to work. Similarly, small spaces for respite or private conversations can be woven into the plan without expanding the overall footprint.

What distinguishes high-performing compact offices is not the number of amenities but their relevance. When features align closely with how employees actually work – eating lunch, plugging in quickly, meeting informally – they enhance satisfaction while preserving valuable space. In one workplace, a central hub designed to support multiple functions illustrates this approach. By consolidating a pantry space for eating and getting coffee or water, seating for informal meetings and a physical display of the organization’s brand and mission for visitors, the design increases usage throughout the day while maximizing efficiency and engagement without expanding the overall footprint.

What distinguishes high-performing compact offices is not the number of amenities but their relevance. When features align closely with how employees actually work – eating lunch, plugging in quickly, meeting informally – they enhance satisfaction while preserving valuable space. In one workplace, a cafe designed to support multiple functions illustrates this approach.
What distinguishes high-performing compact offices is not the number of amenities but their relevance. When features align closely with how employees actually work – eating lunch, plugging in quickly, meeting informally – they enhance satisfaction while preserving valuable space. In one workplace, a cafe designed to support multiple functions illustrates this approach.
Photo credit: Halkin Mason Photography for Ballinger

Underlying all of these strategies is a recognition that successful downsizing depends as much on process as on design.

Leadership, data, and trust

Reducing office space can be emotionally charged. For many employees, space is tied to identity, position and a sense of belonging. Navigating this transition requires clear leadership, transparent communication and a willingness to ground decisions in evidence.

Data plays a critical role in building confidence. Utilization studies, access metrics and survey results provide an objective picture of how spaces are truly used, often challenging assumptions held by both leadership and staff. When design recommendations are linked directly to these insights – and consistently referenced through a set of guiding principles – organizations are better able to maintain alignment even when difficult trade-offs arise.

Equally important is framing space reduction not solely as a cost-saving measure but as an opportunity to reinvest in quality, flexibility and experience. When people understand the broader goals – supporting collaboration, enabling growth and creating equitable environments – they are more likely to see change as progress rather than loss.

Taken together, these approaches point toward a future in which the success of the office is measured less by size and ownership than by intention.

A smaller footprint as a strategic advantage 

The evolution toward compact, high-performance workplaces reflects a broader shift in how organizations define value. The office is no longer a default container for work but a deliberate tool, one that can be scaled, adapted or reimagined to support connection, learning and innovation in different ways.

For some, that means reducing square footage and investing more intentionally in how space performs. For others, it may mean maintaining or even expanding their footprint to meet different operational needs. What matters most is not the size of the workplace, but the clarity of its purpose.

In this context, less space does not mean less ambition. It demands sharper thinking about what matters most and how design can support it. The organizations that succeed will be those that resist one-size-fits-all solutions and instead align their workplace strategy with their people, culture and long-term goals.

Featured photo by Halkin Mason Photography for Ballinger.

This post was originally published here. 

The relatively small protests that have broken out in Iraq after Baghdad failed to pay state employees their July salaries, which have so far been tempered by the focus on the Ziyarat al-Arbaeen Shia pilgrimage, could turn violent if the delays continue, Dr. Ronen Zeidel told The Jerusalem Post on Thursday.

Iraq spends approximately $6.5 billion a month on public sector salaries, pensions, and social welfare payments, according to the country’s Finance Ministry. The wages were allegedly delayed over Baghdad’s struggle to manage the oil export crisis that hit the region after Iran began blockading the Strait of Hormuz.

According to Iraq’s Multidimensional Poverty Index, around 17.5% of the population live in poverty, a percentage that could naturally increase should wages be withheld long-term.

Iraq’s economy remains heavily reliant on oil, which accounts for 90% of government revenue, 95% of export earnings, and more than 53% of the country’s gross domestic product.

“When you don’t export your oil, and oil is the main product of the Iraqi economy, you don’t have money,” Zeidel, a researcher at the Moshe Dayan Center, said, adding that the issue of America’s hold on the money created yet another complexity for Baghdad to navigate.

Iraqi Prime Minister and the Commander-in-Chief of the Armed Forces, Ali Faleh Al-Zaidi chairs the Ministerial Council for National Security for an emergency meeting, to discuss the latest security developments and the attack carried out by the US and Saudi air forces, Baghdad, Iraq, July 29, 2026. (credit: THE MEDIA OFFICE OF THE PRIME MINISTER/HANDOUT VIA REUTERS)

“The problem is that dollars are often not released, or are not released at the pace that Iraq needs. The Iraqi banking system and financial system are not operating according to American regulations, and there are significant problems with the banking sector,” he explained.

US controls Iraqi oil revenues, using leverage to push Baghdad to act in its interests

The United States controls the revenues from Iraq’s oil fields through the Development Fund for Iraq (DFI) held in New York, which allows Washington to leverage Iraq’s revenue to make changes to its regulatory systems or control its relationship with Iran.

“The Americans have been working to reform this banking system over the past couple of years, but that work has not yet been completed. Iraq has been used for laundering dollars and transferring them to Iran. Some banks are on the American blacklist for working with Iran and with Iraqi militias, and that is what the Americans want to prevent,” Zeidel continued. “As long as Iraq does not carry out the necessary reforms, there will continue to be difficulties in accessing dollars. When you do not have dollars, you cannot pay all of the state employees who rely on these payments.”

If the payments are not paid, and the wait goes on too long, it can be expected that the protests would increase, potentially becoming more “violent,” he predicted.

Describing a situation comparable to the demonstrations that broke out in December in Iran, which were initially about the country’s economic crisis but developed into a protest against the Islamic regime, Zeidel said there were a number of “converging issues” tied to geopolitics that could also potentially see unrest escalate.

Framing Iraq as the child of divorced parents, Iran and the US, he outlined that in many ways its dependencies on the US for financial support and Iran for gas have left Baghdad pulled in both directions, trying to manage critical relations.

With temperatures only falling slightly short of an “unbearable” 50° Celcius in Iraq this week, Iran’s gas supply is crucial for maintaining electricity. Tehran supplies between a third and 40% of Iraq’s gas and power needs, though supplies have repeatedly been paused and power cuts have become a common issue.

“America is the father. Under Trump, America has decided to spoil Iraq. Now Iran is angry with the Iraqis because they turned to America, and America is entering the country economically. This could also help the Iraqi economy through the entry of American companies, the creation of more employment opportunities, and similar measures,” he said.

“However, Iran could also harm Iraqi politics and Iraq itself, and the Iraqis understand that. Iran still has leverage over Iraq.”

Oil agreements between Iraq and US companies, valued at $200 b., were finalized by the prime minister at a July meeting in the US

Iraq’s oil minister said in an interview with state television last month that agreements signed between the oil ministry ‌and US companies during Iraqi Prime Minister Ali al-Zaidi’s visit to the US in July were estimated at $200 b.

Zeidel said that Baghdad failed to secure any exemptions for Iraqi oil tankers during Zaidi’s visit to Tehran last month, or a deal to increase the supply of gas, though he did sign several joint agreements concerning foreign affairs, finance, the economy, and energy.  Iraq had already signed a 5-year gas supply deal with Iran, with pumping rates of up to 50 million cubic meters per day, in March, though Iraq has been forced to trade crude oil and fuel as the US won’t release funds that would violate its sanctions.

Zeidel also noted that reports in Arab media alleged Iran demanded that Zaidi pay around $11 b. in accumulated debts for Iranian gas imports during his recent visit to Tehran.

Al Hurra reported that Baghdad countered by offering to transfer $1 b. to Saudi Arabia to cover Hajj-related fees owed by Iran, allowing Baghdad to manage its relationship with Washington, though this was reportedly rejected.

“Iran doesn’t like the fact that the Americans are getting into Iraq and to its economy on such a massive scale,” Zeidel shared.

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The Superior Court of Quebec has allowed a B’nai Brith-backed class action lawsuit to proceed on behalf of Jewish students enrolled at McGill University.

In a 16-page written judgment on Tuesday, the Hon. Dominique Poulin said she authorized “plaintiff David Cobrin to institute a class action against McGill University on behalf of a group of Jewish students registered at McGill” and that the cause of action “stands a chance at trial and deserves to be heard.”

The class action, taken by law firm FFMP, is on behalf of all Jewish students registered at McGill University from October 8, 2023, onward (including undergraduate, master’s, continuing education, doctoral, and post-doctoral).

The class action alleges that McGill failed to reasonably enforce its policies in the face of antisemitic and anti-Zionist conduct on its campus, and seeks compensation for Jewish students who were accordingly deprived of a safe, welcoming, and respectful university environment since October 8, 2023.

For example, an anti-Israel encampment on campus involved figures associated with extremist groups and banned student organizations, including Students in Solidarity with Palestinian Human Rights (SPHR), which glorified Hamas’ attacks during a series of social media posts on October 7 and 8.

 Student protest at McGill University in Quebec.  (credit: screenshot, SECTION 27A COPYRIGHT ACT)

Then, around the one-year anniversary of the events of October 7, SPHR promoted the “week of rage.” Plaintiff Cobrin said he witnessed hundreds of protesters break down and trample the barriers that had been erected to protect the surroundings. He also said he was shocked by the chanting of antisemitic slogans and fearful for his personal safety.

McGill claims allegations do not provide specific measures it could have taken

McGill, however, argued that Cobrin failed to advance allegations of facts that demonstrate when and why McGill should have acted, what measures it should have taken, and why such measures would have been more appropriate than the ones that were taken. McGill also argued that many of the protesters were third parties not subject to its discipline.

It also told the judge that the allegations do not plausibly convince that any specific measure it did not take would have successfully provided a safer environment for Jewish students.

Judge Poulin noted that universities are immune from the intervention of the courts unless exceptional circumstances justify that their decisions and actions be reviewed. She nevertheless overruled the McGill argument, saying that the situation which prevailed at McGill after the events of October 7 was sufficiently “exceptional and complex” to warrant class action.

B’nai Brith CEO calls McGill’s failure ‘unacceptable’

“This judgment is an important first step toward recognizing the lived experience of Jewish students at McGill and, through them, toward ensuring accountability and meaningful change at the institution,” Simon Wolle, B’nai Brith Canada’s CEO, said.

“It is unacceptable that McGill has failed to prevent its campus from descending into a place where Jewish students encounter regular incidents of hate, antisemitism, and extremism.

“B’nai Brith Canada will continue to advocate for the well-being and equal treatment of Jewish students at McGill and throughout Canada,” she said.

“For years, Jewish students at McGill have been harassed, marginalized, and even assaulted,” Paola Samuel, B’nai Brith Canada’s regional director for Quebec and Atlantic Canada, said. “This decision will ensure McGill’s Jewish students have the opportunity to be heard in court.”

This post was originally published on here. 

Turkey’s draft law set to offer amnesty to members of the Kurdistan Workers’ Party (PKK) would allow Ankara to shift its intelligence and economic resources from its “long-running counterterrorism campaign” to other regional priorities, Turkish foreign policy analyst Burak Can Celik told The Jerusalem Post on Thursday.

Celik’s comments came a day after Turkey’s ruling alliance submitted a draft law to parliament meant to achieve ‌peace with the PKK, in part by protecting many former militants from prosecution and suspending prison sentences for some others.

The draft law marks a leap toward ending an insurgency that has killed over 40,000 people since 1984, sown deep discord at home, and fuelled violence across borders in Iraq and Syria.

He predicted that the most immediate consequences would be seen in Iraq, where a reduced security threat could ease tensions with Baghdad and could, eventually, reduce the intensity of Turkish cross-border military operations, which would “create a more stable environment for energy infrastructure, trade routes, and regional connectivity projects, such as the Development Road.”

However, the end of the PKK threat would not necessarily mean that Turkey would rapidly withdraw its military and intelligence presence from northern Iraq.

Supporters wave flags bearing portraits of jailed PKK leader Abdullah Ocalan during the ''Freedom Rally'' at Istasyon Square in Diyarbakir, Turkey on June 28, 2026. (credit: Bilal Seckin / Middle East Images / AFP via Getty Images)

PKK deal could reduce Turkey’s Iraq presence, free resources for wider regional goals

Ankara regards its regional security capacity as important not only for countering the PKK, but also for protecting its borders and maintaining regional influence. A reduction in Turkey’s military presence may therefore be possible, but a gradual and conditional adjustment would be more realistic than a complete withdrawal.

Outside Iraq, the end of the long battle against the PKK would also free resources to focus on its interests in Syria, the Black Sea, the Eastern Mediterranean, and NATO. Though Celik theorized that Ankara’s foreign policy wasn’t necessarily on the path to moderation.

“Turkey, no longer constrained by such a significant internal security challenge, could act with greater confidence and assertiveness on certain regional issues,” he said. “The outcome of this process could therefore affect not only Turkey’s domestic security environment, but also the balance of power Ankara seeks to establish in its relations with neighboring countries.

The bill would suspend prison sentences for those convicted of PKK membership or aiding the group, according to the text seen by Reuters. It also legally protects militants who were not involved in killings and who return to Turkey within six ‌months of the law passing parliament.

PKK officials convicted of serious crimes, including leading a terrorist organization and aggravated life sentences before 2005, would not benefit from legal protections or suspended sentences. This means PKK leader Abdullah Öcalan, jailed since 1999 with an aggravated life sentence, would remain in prison.

Describing Ankara’s decision as “pragmatic,” Celik explained that there were few options to achieve a comprehensive disarmament “without creating a legal exit route for members of the organization who were not directly involved in armed attacks or serious crimes.”

He suggested that “in an environment where everyone who surrenders expects to face automatic arrest and lengthy prison sentences, there may be little incentive for lower-ranking members in particular to lay down their weapons,” and so a limited mechanism for an amnesty can be seen as a way to make disarmament achievable without it being viewed as a concession.

Though efforts began in 2024 to achieve a peace agreement, regional escalation created barriers to achieving a mutually lasting calm. Celik suggested that the reason for the renewed movement is that Ankara has expanded its military capacity, particularly in northern Iraq, while the PKK has come under significant pressure.

“The process appears to be taking place at a moment when the state believes it is in a stronger position than during previous peace initiatives,” he said. “The government is therefore likely to present it not as a negotiation based on mutual concessions, but as the final stage of a long-standing security strategy.”

With elections scheduled for 2028, and new momentum in place to challenge Turkish President Tayyip Erdogan’s 23-year rule, he added that such a large initiative could not be considered entirely separate from domestic politics.

“Ending the conflict could represent a significant achievement for President Erdogan’s political legacy, reshape the government’s relationship with Kurdish voters, and influence future constitutional discussions,” he explained. “The potential political consequences of the process, as well as the advantages the government may derive from it, are therefore also being debated within Turkey.”

Transparency and legal clarity will determine support for PKK peace process

Longer term, the issue of the PKK has been a challenge of “security and social stability” that would have needed to be addressed eventually, he claimed, adding that the “existence of political motivations does not eliminate the fact that the process may also respond to a genuine and significant strategic need.”

“The decisive question will be how transparently, institutionally, and legally predictably the process is conducted,” he continued, noting that there needed to be a clear and above-board distinction for differentiating between “individuals responsible for serious crimes” and lower-ranking members; also, “proper consideration for the sensitivities of victims will be essential for maintaining public support.”

Failure to ensure these mechanisms are in place could be viewed by one section of society as ”creating impunity,” while another may see it as “insufficient and unrealistic,” Celik warned.

This post was originally published on here. 

The majority of Israelis believe that there is danger to the integrity of the upcoming elections, the July 2026 Israeli Voice Index revealed on Thursday.

According to the index, 72% of Jewish Israelis and 58.5% of Arab Israelis responded to the question, “In your opinion, is there or is there not a danger to the integrity of the elections in Israel?” with some or complete certainty that there was.

A majority of supporters of all the main political blocs agreed that the election’s integrity was in danger, although the exact percentage varied widely. Only 66% of those on the Right agreed that the danger existed, compared to 76% of the Center and 90.5% of the Left.

The poll also revealed that the majority of Israelis still oppose the inclusion of the Ra’am party, led by Mansour Abbas, in the next government. Both Israeli and Arab respondents agreed at similar rates, with 61% and 60% respectively.

Support from the Israeli public was low for some of the controversial laws passed during the Knesset’s legislative blitz prior to the upcoming election, the index indicated.

Opposition members of Israel's Knesset leave during a preliminary vote to establish a political commission of inquiry, December 24, 2025; Illustrative. (credit: MARC ISRAEL SELLEM)

The survey inquired about the public’s opinion on three laws: the law to stop the arrest of deserters, the gender segregation in higher education law, and the attorney general law.

For all three of these laws, the percentage of respondents who opposed the law was above 50%. The law to halt the arrest of deserters saw the largest percentage in opposition, at 67%.

When it came to the issue of the West Bank, 80% of Jewish respondents said that they believed there was a very or fairly high likelihood of a Palestinian uprising in the foreseeable future, while only 40% of Arabs anticipated the same possibility.

The Israeli public was more split on how security forces treat settler violence. Among Jewish Israelis, the largest share (46%) believe that acts of settler violence against Palestinians are handled too leniently by security forces, while 27% believe that they are handled too harshly. Among Arab Israelis, 54% believe that settler violence is handled too leniently, and 10.5% believe that it is handled too harshly.

Israelis pessimistic about Syria peace treaty possibility

The index also asked questions related to Israel’s foreign policy and international relations.

One of the questions asked was, “In an interview with Al Jazeera, the president of Syria announced that Damascus is seeking a security agreement with Israel that could pave the way to a comprehensive peace. In your opinion, what is the likelihood of reaching a comprehensive peace treaty with Syria?”

The majority of respondents were pessimistic about the possibility of a Syrian peace treaty, with 65% of Jews and 48% of Arabs saying that it was unlikely to occur.

However, the majority (68%) of Jewish Israelis also agreed that a peace agreement with Syria was important for Israel. Only 38% of Arab Israelis thought that this was true.

Largest group says Israel should not strike Iran unless attacked

Opinions on Israel’s potential future actions towards Iran in the ongoing war were heavily split.

The options presented to the respondents were for Israel to avoid all military action against Iran unless directly attacked; for Israel to join United States attacks if requested, but otherwise remain uninvolved; for Israel to attempt to persuade the US to conduct joint attacks against Iran; and for Israel to attack Iran with or without coordination with or agreement from the US.

Of these possibilities, the largest group (37%) opined that Israel should only respond to Iran if directly attacked. On the other hand, one-fifth (20%) believed that Israel should attempt to persuade the US to conduct a joint military operation, and 16% believed that Israel should strike Iran with or without American support. Another 18% thought that Israel should only join the US attacks if requested, and should otherwise not strike.

The results varied significantly based on political affiliation and demographics. Among Arab Israelis and the Left, the percentage of respondents who believed Israel should not involve itself unless struck by Iran was significantly higher (65.5% and 59% respectively) compared to Jewish Israelis and the Right (31.5% and 21% respectively).

The July 2026 Israeli Voice Index was prepared by the Viterbi Family Center for Public Opinion and Policy Research at the Israel Democracy Institute. The survey was conducted via the internet and by telephone (to include groups that are under-represented on the internet) between July 28 and August 2, 2026, with 600 men and women interviewed in Hebrew and 151 in Arabic, constituting a nationally representative sample of the adult population in Israel aged 18 and over. The maximum sampling error was ±3.58 % at a confidence level of 95%. Field work was carried out by Shiluv I2R. The full data file can be found at: https://dataisrael.idi.org.il.

This post was originally published on here. 

In the race for new ways to treat Alzheimer’s and other devastating neurologic diseases, the protein tau has become a tantalizing target for drug developers. A new study lends support to those efforts by describing a previously unknown role that tau plays in neurodegeneration — and suggesting a novel way researchers might block the protein’s activity.

A team led by Stanford scientists found that tau can gum up the works of a cell’s mitochondria, its energy-producing powerhouse. The protein sends electrons flowing in the opposite direction of their usual microscopic relay race, a reversal that generates reactive oxygen species, cellular stress, and inflammation. Scientists found that blocking this phenomenon, known as reverse electron transport, reversed many of the harmful effects and improved learning and memory in flies and mice.

Whether the same will hold true in people is for now unclear, though an analysis of human cells grown in the lab and patient brain tissue suggests blocking the retrograde flow of electrons could make neurons healthier. Two of the study’s authors have started a biotech startup to put this idea to the test. 

Continue to STAT+ to read the full story…

This post was originally published here. 

The Real Brokerage posted strong gains in revenue, agent count and transaction volume in Q2 while advancing plans to acquire REMAX later this year.

Leaders reported second-quarter revenue of $700.6 million, a 30% increase from $540.7 million a year earlier, during a Thursday morning earnings call.

Gross profit rose 22% to $58.3 million, while adjusted EBITDA increased 38% to $27.6 million.

The company reported a net loss of $8 million, compared with net income of $1.6 million in the second quarter of 2025. Executives said the loss was largely driven by $11.6 million in acquisition-related expenses associated with the pending REMAX transaction.

Real finished the quarter with $86.6 million in unrestricted cash and short-term investments and no debt.

“Despite one of the most challenging housing markets in years, we again delivered significant growth, improved core profitability and further strengthened our balance sheet,” said CEO Tamir Poleg. “Those results reinforce something we’ve believed for a long time, when we consistently help great real estate professionals build better businesses, we can deliver differentiated growth, improve profitability and create long-term value.

“That’s why we believe the REMAX transaction is such an important step in our evolution. REMAX brings an iconic global brand, highly productive agents and franchise owners with deep local market expertise. Real brings a modern AI-enabled technology platform, a differentiated economic model and a track record of innovation and disciplined execution.”

Agent growth fuels momentum

Real ended the quarter with 35,348 agents, a 26% increase from a year earlier. By Aug. 5, leaders said the brokerage had surpassed 36,000 agents.

Closed transactions climbed 27% year over year to a record 62,380, while total transaction volume reached $26.3 billion, up 31%.

“A key takeaway is that Real continues to take market share and grow at a significant rate, despite a housing market that remains near historically low transaction levels,” said Chief Financial Officer Ravi Jani. “At the same time, our high-margin ancillary businesses are also delivering improved growth and profitability.”

Poleg said recruiting accelerated during the second quarter after a slower first quarter — with the pending REMAX acquisition helping generate additional interest among agents and teams.

“Q3 started very strongly, and we expect that momentum to continue through the rest of the year,” he said. “Our focus at the moment is obviously attracting agents who are not with the Real REMAX Group.”

AI platform expands agent tools

Executives said continued investment in artificial intelligence (AI) remains central to Real’s strategy.

Chief Operating Officer Jenna Rozenblat highlighted the beta launch of Leo 2.0 — the company’s AI-powered relationship management platform — which now integrates with several of the industry’s largest CRM systems.

“By helping agents respond faster, maintain more consistent engagement and identify when their clients are ready to act, we believe HeyLeo can improve agent productivity while creating a better experience for buyers and sellers,” she said. “We’re very pleased with the early results and feedback from our agents.”

Poleg said the company also plans to integrate its mortgage and title businesses directly into the AI platform so agents can more easily connect clients with additional services during the transaction process.

Ancillary businesses continue growing

Real’s ancillary businesses also posted solid growth during the quarter.

Combined revenue from Real Wallet, One Real Title and One Real Mortgage increased 28% year over year to $4.2 million.

Real Wallet revenue jumped 140% to $592,000, while One Real Title revenue rose 29% to $1.7 million and One Real Mortgage revenue increased 10% to $1.9 million.

As of August, more than 10,200 agents were using Real Wallet business checking accounts — with approximately $38.4 million in deposits and $10.8 million in outstanding business loans and lines of credit.

The mortgage platform now includes 169 loan officers, including 137 participating in the Real Originate program.

REMAX integration preparations continue

Real continues preparing for its acquisition of REMAX, which is expected to close during the second half of 2026, subject to shareholder approval and other customary closing conditions.

A security holder vote is scheduled for Aug. 14, Real leaders said during the call.

Rozenblat said integration planning is well underway, with an integration management office established, leadership teams assigned across business functions and third-party advisors assisting with day-one readiness.

The company continues to expect approximately $30 million in cost synergies within three years after closing.

“Our priority is to bring together the best of both organizations while making the transition as seamless as possible for employees, agents, franchise owners and consumers,” said Rozenblat. “Success won’t be measured by how quickly we change things; it will be measured by how effectively we strengthen the combined platform while preserving the relationships and culture that have made both successful.”

The combined company is expected to unite REMAX’s network of more than 140,000 agents with Real’s technology platform under the planned Real REMAX Group.

Poleg said each company brings complementary strengths to the transaction.

“Together, we believe we can better support real estate professionals, improve the experience for buyers and sellers and build a stronger, more profitable company for the long term,” he said.

Outlook remains positive

Looking ahead, executives expect the third quarter to follow typical seasonal patterns — with revenue and adjusted EBITDA declining from the second quarter and gross margin remaining below year-ago levels because of a higher mix of top-producing, capped agents.

If the REMAX acquisition closes as expected, the company plans to provide a combined-company operating baseline and preliminary 2027 guidance during its third-quarter earnings report in November.

Poleg said Real remains focused on executing its strategy regardless of broader housing market conditions.

“While we can’t control mortgage rates or the pace of the housing market, we can control how we innovate, how we execute and how we support the thousands of real estate professionals who trust us with their businesses. This quarter’s results reflect that focus,” he said.

This post was originally published on here. 

Anduril Industries is in advanced talks to build a drone boat production site at Sparrows Point, the 3,300-acre former Bethlehem Steel complex in Baltimore County, in a deal that could run into the hundreds of millions of dollars and return shipbuilding work to one of the East Coast’s largest deep-water industrial sites.

The defense manufacturer has signed a memorandum of understanding with the operators of the yard, according to reporting published Monday by The Wall Street Journal citing people familiar with the discussions. The facility would handle both manufacturing and on-water testing of the company’s unmanned surface vessels.

No lease has been signed, and the people cautioned that the talks could still fall apart. The office of Maryland Gov. Wes Moore has been involved in the discussions, and any agreement would likely carry state incentives to offset Anduril’s costs. A spokesman for Moore declined to comment. A spokesman for Tradepoint Atlantic, which owns Sparrows Point, did not respond to requests for comment.

The site’s recent history is one of reinvention. Investors began acquiring the former Bethlehem Steel property in 2014 for redevelopment and renamed it Tradepoint Atlantic. It now hosts fulfillment and logistics operations for retailers including Amazon and Home Depot, and two years ago it served as the staging ground for rerouted cargo traffic and wreckage recovery after the Francis Scott Key Bridge collapse — a role that demonstrated the site’s deep-water capacity under emergency conditions. Its shipbuilding past runs deeper still: a 32,000-ton vessel launched at Sparrows Point in 1956 was at the time the largest cargo ship in the country.

Geography is a substantial part of the appeal. A Baltimore-area production site would put Anduril’s boat manufacturing within reach of Washington and of the Coast Guard’s largest shipyard, making testing and integration with the Coast Guard fleet considerably simpler, one of the people familiar with the matter said. That proximity matters for a product line still working its way through certification and fielding.

Anduril’s maritime operation is young and geographically thin. The company revamped a Seattle shipyard for low-rate production, and prototypes of the vessel it is developing with South Korea’s HD Hyundai Heavy Industries are being built in Korea. It also holds a partnership with United Kingdom-based Kraken Technology Group. A Maryland facility would be its first East Coast production capacity for the category.

The push comes despite a recent setback. Anduril lost a Navy competition for medium-size drone boats, an award that left out several bidders and prompted defense-technology executives to take complaints to Congress and, in some cases, to sue the government. Anduril is not among the companies suing.

Entering unmanned surface vessels also puts a large, well-capitalized manufacturer into a field crowded with startups competing for Navy work — including BlackSea Technologies, already based in Baltimore. Anduril has expanded into nearly every corner of defense contracting, from jets to submarines to counterdrone systems, and it now arrives in a market where smaller firms have been the incumbents.

The capital behind the expansion is considerable. Anduril closed a $5 billion round in May at a $61 billion valuation, led by Thrive Capital and Andreessen Horowitz, and has been working to roughly double capacity across its weapons-systems production. Reuters reported on July 24 that the company is in talks for a further raise that could value it near $100 billion, potentially structured in two tranches. That balance sheet is what makes a nine-figure commitment to an idle industrial site plausible.

Demand is the other half of the equation. Drone boats have moved from experiment to fielded capability for militaries worldwide — Ukraine used them to significant effect against Russian forces in the Black Sea, and the U.S. military’s own wartime debut came in the conflict with Iran, where autonomous vessels built by Saronic recovered two Apache crew members after their helicopter was shot down and carried out strikes on Iranian shipping and submarine infrastructure. Surveillance, however, remains the dominant use.

For Maryland, the calculation is straightforward. Sparrows Point employed generations of steelworkers and shipbuilders before the industry left, and the redevelopment that followed has leaned heavily on warehousing and logistics — sectors that generate volume but comparatively modest wages. Advanced manufacturing at scale would change that mix, and it would do so on a site that already carries the berthing, rail access and acreage that took a century to assemble and cannot be easily rebuilt elsewhere.

Whether it happens turns on terms that have not been agreed. The memorandum of understanding is a framework, not a commitment, and the incentive package that would likely accompany any deal has yet to surface publicly. What the talks confirm is that the Navy’s appetite for uncrewed hulls has outrun the handful of small yards currently building them, and that the search for capacity has turned toward the industrial waterfronts the country stopped using.

JBizNews Desk | Baltimore

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When financial anxiety spikes, the impulse to aggressively pay off a car loan or mortgage seems like a bulletproof step toward financial freedom, but credit repair expert and influencer Micah Smith warns that suddenly paying off those loans can actually backfire and drag down your credit score.

Instead, turning around a credit score — sometimes taking a profile from the 400s into the 700s in just one month — comes down to precise timing, strategic balance targets and leveraging forgotten rules hidden inside consumer credit law.

“It really takes a deep understanding of how credit works, but 400s to 700s is very realistic,” Smith told Fox News Digital.

“The biggest thing we look at right away is, how is the positive credit being used? Is there any positive credit there? Then we take a look at the negative items. What kind of negative items are there?” she continued. “You really want to assess those two things… and are there any quick wins available on the credit report?”

MORE AMERICANS ARE RELYING ON CREDIT CARDS TO BUY GROCERIES, NEW STUDY FINDS

Smith has previously broken down how credit utilization — or amounts owed — makes up 30% of a standard FICO credit score calculation, while payment history accounts for 35%. But to see a quick improvement in your credit score, it’s important to note that credit card issuers report account balances to the credit bureaus once per month on the account’s statement closing date, not the payment due date.

The credit expert emphasized that maintaining an overall utilization ratio below 10%, and ideally under 7%, signals low credit risk and generates maximum point gains in scoring models.

“Most people don’t realize how much their credit card usage is impacting their credit score,” she said. “You can call your credit card company and say, ‘When is my closing date?’ And… you wanna get your balance down to 6% utilization or less. So if you have a $1,000 credit card, you want that balance to be $60.”

“The other thing you can do is, if you’re eligible, you actually also can ask for a credit limit increase to widen that gap. So that way the balanced limit ratio, you can widen it by asking for a credit limit increases. If it’s an inquiry, it’s not that big of a deal. It’s two to five points. It’s nominal. But sometimes, that can actually increase a person’s credit score by not having to part ways with a ton of money.”

Smith also cited a June 2026 LendingTree survey, which found that 84% of credit cardholders who requested an interest rate (APR) reduction were successful, yet only 23% of cardholders actually asked for one.

“You can help yourself by picking up the phone, making a phone call, and you can actually pay down your debt a lot faster just by simply asking for a reduction in the interest,” she noted.

“Half the money that you win or lose in life will be done at the negotiation table. So I would take a look at all of your bills, see what can be negotiated. People underestimate — rent can be negotiated, utilities can be negotiated, credit cards can be negotiated.”

There are times, however, when paying off debt or loans can backfire, according to Smith. Installment loans, including mortgages, auto loans and student loans, differ from revolving credit such as credit cards. When an installment loan is paid off, the account status shifts to “closed,” which can reduce credit mix diversity — worth about 10% of a FICO score — and pause active positive payment reporting.

“The most common mistakes that we see in credit today that backfire badly would blow your mind… They will actually have enough money to pay off student loans in full. They’ll have enough to pay off their cars in full, they might have enough money to pay off their mortgage in full thinking that they’re going to drive their credit scores up. And actually, it takes the credit scores backwards,” she warned.

“When you pay off an installment loan, it’s closed. So that positive history, it stops calculating into the credit score. And so you actually end up suppressing the score,” Smith continued. “This is why it’s so important to know where to apply the appropriate funds because if you apply it in the wrong places, thinking it’s going to drive the credit score upwards, you’re going to find yourself very, very disappointed.”

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While securing a rapid score boost provides an immediate surge of confidence and momentum, Smith stresses that a 30-day triage plan is only the first step. To ensure quick credit wins turn into long-term financial security, the focus must shift from temporary fixes to automated systems.

“Short-term fixes, those are amazing. We’re so grateful when we get these really quick short-term fixes, but it ultimately hasn’t addressed the underlying problem,” she said. “People need to be reminded more than they’re taught… It’s not because you understand credit so well, it’s because you don’t and you haven’t built the habits yet. And so we’re reinforcing those habits day after day, week after week, month after month. And so we’re constantly focused on reminding more than teaching, and I think that’s a very important principle that we all need to know.”

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The lockup agreement that has kept SpaceX employees and early investors from selling their stock expired at Thursday’s opening bell, and those shareholders are free to sell during today’s session. Up to 911.5 million shares — worth roughly $101 billion — became eligible for sale, the first opportunity insiders have had to convert their holdings into cash since December 2025.

So far, the market has absorbed it calmly. Shares fluctuated between gains and losses of less than 3% in early trading, with nearly 93 million shares changing hands in the first thirty minutes — about 40% of the previous full day’s total volume. By late morning the stock was trading 0.8% higher at $109.10, after falling as much as 2.9% earlier in the session. It closed Wednesday at $108.27.

What a Lockup Is, and Why This One Is Different

When a company goes public, only a portion of its shares are released for trading. Founders, employees and pre-IPO investors sign agreements barring them from selling for a set period — typically 180 days. The purpose is to prevent a wave of insider selling from overwhelming a stock in its first months, before it has established a trading history. The date those restrictions lift is the lockup expiration.

SpaceX did not follow the standard template. The company structured its lockup with a staggered, nine-stage release schedule rather than a single 180-day expiration, a design intended to reduce the risk of a sudden flood of selling. Under that arrangement, up to 20% of restricted shares became sellable starting Thursday — the second trading day after the company’s second-quarter earnings release. SpaceX posted those results after the close on August 4.

Today’s release is therefore the first stage, not the whole event. A second tranche of 319 million shares is scheduled for August 12, with additional releases continuing through year-end. The complete 180-day lockup runs into early December, at which point as many as 5.33 billion shares would be eligible to trade. A separate extended lockup covering Chief Executive Elon Musk and select other shareholders runs until June 2027.

The Supply Math

The reason this matters comes down to supply and demand. During the restricted period, SpaceX’s share price was set in a market where most of the company’s stock could not participate. The June initial public offering floated 638.9 million shares. Thursday’s unlock adds roughly 43% more, lifting the freely tradable portion of the company to 11.8% of shares outstanding from 4.9%. In absolute terms, shares available for trading climb toward 1.55 billion from about 639 million.

One constraint is working in shareholders’ favor. A separate tranche of up to 455.8 million shares stays locked because SpaceX trades below its $135 offering price — a provision that ties part of the release to the stock’s performance, and one that is currently binding.

Why the Stock Was Already Under Pressure

SpaceX enters this test bruised. Shares sank almost 14% Wednesday, the stock’s second-worst day on record, after the company’s first earnings report as a public company. Revenue reached $7.8 billion for the quarter, and the shares have fallen more than 50% from their June 16 peak of $225.64.

The sell-off on strong revenue requires explanation. The earnings report disclosed larger-than-expected capital expenditures on artificial intelligence. SpaceX is committing substantial sums now to computing infrastructure that will not generate returns for years. Investors decided they were not prepared to fund that timeline, and sold — the same pattern that has hit several technology names this earnings season, where results beat estimates and the stock falls anyway because expectations had already outrun them.

Short sellers moved in aggressively. S3 Partners data show 35% of the available float is currently sold short. That is an unusual concentration of capital positioned against a company roughly two months into public life.

Wall Street Is Split on What It Means

Analysts have largely resisted treating the unlock as a verdict on the business. Mizuho’s Brett Linzey noted that while the step-up in potential supply is meaningful, “eligible for sale does not mean the full tranche will be offered into the market.” Bank of America’s Ron Epstein framed the expiration as a near-term technical drag rather than a judgment on the company, arguing that working through the lockup should eventually relieve pressure on the stock. Morgan Stanley has gone further, characterizing the expiry as an opportunity rather than a risk.

There is a bull case buried in the setup. Short sellers must eventually buy shares to close their positions. If insider selling proves lighter than expected and institutional buyers step in, those shorts become exposed — and a stock that was supposed to fall on supply could instead rise on forced covering. This morning’s muted price action is the first evidence in favor of that scenario.

What to Watch

Volume above all. The first useful signal is trading volume. The early pace suggests activity but not panic. Whether that holds through the afternoon determines whether insiders are steadily distributing stock or standing aside.

The $135 mark. The IPO price is both a psychological reference point and a mechanical one, since it governs whether the additional 455.8 million shares unlock.

The August 12 tranche. With 319 million more shares due in under a week, any selling deferred today does not disappear — it moves.

The distinction worth holding onto is that a lockup expiration is a supply event, not a business event. Nothing about SpaceX’s contracts, operations or outlook changed between Wednesday’s close and Thursday’s open. What changed is how many shareholders are permitted to sell. The market will spend the next several weeks establishing what the stock is worth once that restriction is fully gone.

Intraday figures as of late morning trading, Thursday, August 6.

JBizNews Desk | Wall Street

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Foreign Minister Gideon Sa’ar began a diplomatic visit to South America on Wednesday, with stops in Ecuador and Colombia aimed at strengthening Israel’s diplomatic engagement across Latin America.

The visit includes official meetings with government leaders and senior officials, as well as Sa’ar’s participation in Friday’s inauguration ceremony of Colombia’s President Abelardo de la Espriella, where he will represent the State of Israel.

During the inauguration events, Sa’ar is expected to hold a series of bilateral meetings with political leaders and senior officials from across the continent as part of Israel’s broader diplomatic outreach in the region.

Foreign Minister Gideon Sa'ar stands with Ecuadorian President Daniel Noboa Azin on August 5, 2026.    (credit: screenshot)

Sa’ar begins South America tour with landmark Ecuador visit

The visit follows an announcement made two weeks ago that Sa’ar and Colombia’s designated foreign minister, Omar Bula Escobar, reached an agreement to relocate Colombia’s embassy in Israel to Jerusalem, marking a significant development in bilateral relations.

Before traveling to Colombia, Sa’ar is making an official visit to Ecuador. According to the Foreign Ministry, the trip marks the first visit by an Israeli foreign minister to the country in 44 years.

Speaking ahead of the visit, Sa’ar said Israel has made significant progress in rebuilding and expanding its relationships throughout Latin America.

“Through determined and systematic diplomatic efforts, we have succeeded in strengthening and renewing Israel’s relations with many countries across Latin America,” Sa’ar said. 

“We are continuing our effort to bring Latin America closer to Israel. Israel and its citizens will benefit from this in every sphere, diplomatically, economically, and through tourism.”

The Foreign Ministry said the visit reflects Israel’s continued efforts to deepen diplomatic, economic, and people-to-people ties with countries throughout the region while expanding cooperation with longstanding and emerging partners.

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Wall Street opened Thursday pulling in two directions at once. The Dow, which closed at a record on Wednesday, gave back a small piece of it, while the Nasdaq edged higher — but underneath the flat headline numbers, a handful of memory-chip and advertising-tech stocks were falling hard after telling investors their next few months won’t be as good as the last few. The pattern of this earnings season is holding: companies are beating estimates and getting sold anyway, because expectations had already run past the results.

The Dow slipped 62 points, or 0.1%, to 54,288 in early trading. The S&P 500 edged up 9 points, or 0.1%, to 7,733, while the Nasdaq gained 45 points, or 0.2%, to 26,409. The Russell 2000 hovered just under the flat line near 3,017, and the volatility index sat around 15.8 — a quiet reading that tells you traders are not braced for a shock.

Wednesday set the stage. The S&P 500 snapped a four-session winning streak as investors locked in profits from technology stocks, even as the Dow climbed to another record high, with the index closing at 7,723.55.

Market Movers

SanDisk was the morning’s heaviest weight. Shares tumbled roughly 9% after the memory-chip maker issued guidance that fell short of Wall Street’s expectations. The stock had been one of the year’s biggest winners, up more than 400% in 2026, which is precisely why a merely-good forecast was treated as a disappointment.

Western Digital slid alongside it. The company posted quarterly results that topped analyst estimates, but shares moved lower anyway, suggesting investors were focused more on the outlook than the latest earnings. Both companies sell into the same story — artificial-intelligence data centers buying storage faster than manufacturers can supply it — and both are now being asked how long that shortage lasts.

AppLovin fell hardest of the group. Shares plunged 14% after the advertising technology company delivered earnings that disappointed investors.

SpaceX faces its own test today, unrelated to earnings. A lockup expiration frees employees and early backers to sell for the first time since the June debut, with roughly 911 million shares becoming eligible to trade — more than doubling the stock’s freely tradeable float. The stock has been sitting near all-time lows going in. Eligible to sell is not the same as selling, but with short interest already elevated, the market is watching whether a bid shows up.

Nvidia is the counterweight. The chipmaker rose Wednesday after SpaceX said it would exclusively use Nvidia chips, a gain of more than 3% on the session.

Before the bell, ConocoPhillips, Howmet Aerospace, Datadog and Constellation Energy reported. Cloudflare and Monster Beverage follow after the close, along with Airbnb, DraftKings and Celsius Holdings.

The Labor Picture

The morning’s economic data landed on the strong side. Applications for unemployment benefits edged up to 199,000 in the week ended August 1, staying below 200,000 for a third straight week, with the four-week moving average falling to the lowest level since September 2022. That was an increase of 1,000 from the previous week’s revised 198,000, against economist expectations of 202,000.

In plain terms: almost nobody is getting laid off. That matters for Friday, when the July employment report arrives and gives the Federal Reserve its clearest read yet on whether the labor market is tight enough to keep rate cuts off the table.

Commodities

Oil firmed on diplomacy rather than disruption. West Texas Intermediate traded near $76.03 a barrel, up about 1.1%, with Brent holding around $80 after closing Wednesday at $79.43. The United States, Iran and Oman are negotiating an interim arrangement under which inbound ships would transit Iran’s territorial waters while outbound ships sail through Oman’s waters in coordination with Tehran. Iran’s foreign ministry has said a deal is reachable “if certain third parties do not obstruct this process.”

For businesses across the tri-state area, that negotiation is the number that matters most this week. A functioning Hormuz corridor pulls war-risk insurance premiums down, shortens shipping timelines, and eventually shows up at the diesel pump and in freight invoices. It has not happened yet.

Gold climbed to about $4,327 an ounce, up roughly 0.5% and near multiweek highs — the market’s standing hedge against the deal falling apart. Bitcoin traded near $64,400, little changed.

JBizNews Desk | Wall Street

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On Thursday morning, the Senate Homeland Security and Governmental Affairs Committee voted along party lines to hold Anthony Fauci in contempt of Congress over his recent invocation of the Fifth Amendment during a hearing about his pandemic-era leadership. Fauci will next face a Senate vote.

While watching these congressional proceedings, my mind has gone to two places at once: the spring of 2020 — and, more importantly, to what comes next.

Read the rest…

This post was originally published here. 

The Trump administration said Wednesday it will shut down a Kentucky organ donation group accused of continuing plans for organ retrieval from some patients who unexpectedly showed signs of life.

While those surgeries were canceled, the cases made headlines several years ago, prompting a spike in people around the country revoking their organ donor registrations.

Read the rest…

This post was originally published here. 

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Again, a child dies in a gene therapy trial in China, and STAT has exclusive details. Also, we have encouraging fecal pill results for peanut allergy, and see biotech investor Greg Verdine notch a series of wins.

In other news, it’s been hot out! My backyard tortoise, Philbert, has been most irascible and taken to his fainting couch (cardboard box).

Continue to STAT+ to read the full story…

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Finance of America Companies Inc. (FOA) grew its reverse mortgage and home equity funding volume 21% year over year in the second quarter of 2026, even as non-cash fair value marks in its portfolio business drove a net loss of $29 million from April through June.

The Texas-based lender on Tuesday reported $730 million in funded volume for the quarter ending June 30, up from $602 million during the same period in 2025, according to the company’s earnings release. First-half 2026 volume reached $1.33 billion, up 14% from $1.16 billion in H1 2025.

FOA reported $0.10 in basic earnings per share, or $1 million in net income attributable to Class A common shareholders for the quarter. On a diluted basis, the company posted a loss of $1.28 per share, or a $29 million net loss for the period, reflecting the impact of non-cash fair value adjustments in its portfolio.

On an adjusted basis, the company reported $0.84 in earnings per share, or $19 million in adjusted net income, a 53% year-over-year improvement. Adjusted EBITDA totaled $35 million for the quarter and $79 million for the first half of 2026.

“The second quarter of 2026 reinforced what we’ve been communicating over the past several quarters: that the operational improvements and investments we have made are now translating into a stronger, more scalable business,” CEO Graham Fleming said in a statement. He cited strengthening demand, improved conversion and sales productivity, and growth in proprietary products serving older homeowners.

Performance by segment

FOA’s retirement solutions segment, which originates reverse mortgages and other home equity products, continued to drive growth. Second-quarter funded volume in the segment rose 21% year over year to $730 million.

Total revenue in retirement solutions increased 19% from a year earlier to $74 million, with revenue margins holding near 10.1%, the company reported. Pretax income for the segment was $10 million for the quarter, flat compared to a year earlier, while adjusted net income was $15 million, also in line with Q2 2025.

For the first half of 2026, the segment’s pretax income grew 43% year over year to $20 million, while adjusted net income increased 21% to $29 million.

The company’s portfolio management segment — which earns net interest income and fair value changes on portfolio assets including securitized reverse mortgage collateral — reported a sharp swing driven by valuation marks. The pretax loss was $26 million in Q2 2026, compared with a profit of $108 million in Q2 2025 and a $36 million profit in Q1 2026.

The company attributed the segment’s quarterly loss primarily to negative non-cash fair value adjustments on retained interests in securitizations, which were partially offset by higher accreted yield on residual interests.

Despite the quarterly loss, year-to-date adjusted net income in portfolio management improved 24% to $46 million, up from $37 million in the first half of 2025. Total segment revenue for the quarter fell to $1 million, compared to $130 million in Q2 2025.

Balance-sheet and servicing growth

As of June 30, Finance of America reported $85 million in cash and cash equivalents, up 85% from $46 million a year earlier but down from $108 million at the end of March. The company said strong cash generation from originations and capital markets activities funded most of its recently completed acquisition of Onity Mortgage Corp.‘s servicing portfolio of Home Equity Conversion Mortgages (HECMs).

Total assets rose 24% year over year to $37.3 billion, driven largely by securitized loans held for investment tied to HECM and other nonrecourse obligations, which increased 25% to $36 billion. Assets under management in the portfolio management segment climbed 24% year over year to $37 billion.

Total equity stood at $407 million at the end of Q2 2026, down from $473 million a year earlier. Equity attributable to common stock was $297 million, equating to book value of $33.20 per common share. Tangible equity totaled $246 million, or $13.31 per share, the company said.

Leaders on Onity asset purchase, overall performance

During a Q&A segment at the end of Tuesday’s earnings call, company leaders offered insights into the acquisition of HECM assets and reverse mortgage personnel from Onity, which closed July 1.

“Perhaps the clearest demonstration of our execution this quarter was the strength of our cash generation, allowing us to invest in strategic growth and strengthen the balance sheet,” Fleming said. “The Onity transaction … represents more than the acquisition of servicing assets. It diversifies our servicing footprint, broadens the population of homeowners we can serve, and creates additional opportunities to introduce our proprietary solutions.“

Fleming previously told HousingWire‘s Reverse Mortgage Daily that the transaction included 13 staff members from Onity across originations and operations. He told investors and analysts during Tuesday’s earnings call that the assets had a book value of about $70 million and “we’ll expect to earn yields in the mid-teens.”

“We hired about 13 people — originators and operations staff — from Onity into FOA as part of this transaction,” Fleming said. “We’ve diversified our subservicing platform with Celink and now Onity, which we think is good for FOA and good for the industry. We’ll be able to come up with best-in-class service across both agreements, which will be good for consumers.”

FOA President Kristen Sieffert also weighed in on the growing opportunity to serve senior homeowners across the country, who not only are sitting on nearly $15 trillion in equity but also represent the majority of today’s buyers and sellers.

“Last quarter, I said we were reaching an inflection point in the platform. The second quarter gives us greater confidence in that view,” Sieffert said. “Historically, growth depended more heavily on generating additional top-of-funnel opportunities. Now we’re demonstrating our ability to generate more production from the pipeline we already have.”

She also touched on the rising demand for private-label reverse mortgages and the implications for secondary market investors.

“We’ve seen growing demand for proprietary products recently, mostly as a function of the proprietary products offering better cash flow to the consumer. … Whatever is best suited for the customer is where that demand lands, and right now that’s with the proprietary channel,” Sieffert said.

“The market opportunity ahead of us is still large and underpenetrated, but the real story this quarter is conviction. We’re building a stronger, more valuable business, not simply a bigger one.”

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

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Tamerlan Amshukov, 26, and Alina Kushnirenko, 24, were indicted on Thursday for allegedly carrying out a months-long series of surveillance and intelligence-gathering missions for Iranian agents in exchange for cryptocurrency.

The Tel Aviv District Attorney’s Office charged Amshukov with contact with a foreign agent and 16 counts of providing information that could benefit the enemy. Kushnirenko was charged with eight counts of providing such information.

Prosecutors asked the Tel Aviv District Court to keep the couple in custody until the conclusion of the proceedings against them. They were arrested on July 12 following a joint Shin Bet (Israel Security Agency) and Israel Police investigation.

According to the indictment, Amshukov was first approached via Telegram in late 2025 by a profile calling itself “Rafael,” which offered to pay him to visit and film a restaurant in Ashdod. Kushnirenko allegedly warned him that the approach could be connected to terrorist activity, and the assignment was not carried out.

About four months later, another Telegram profile, using the name “Aslan,” offered Amshukov a commission to withdraw money and deliver the cash to another person. He did not carry out that assignment but continued communicating with the profile, prosecutors said.

 An illustration of a cyber hacker and the Iranian flag. (credit: PX Media/Shutterstock)

“Aslan” later allegedly offered to pay Amshukov to conduct surveillance, film addresses, and track individuals whose photographs would be sent to him. The assignments were carried out for “Aslan” and another person calling himself “David,” with payments transferred in cryptocurrency.

Amshukov allegedly accepted the offer and recruited Kushnirenko to assist him. Prosecutors said the pair carried out the assignments between April and July, knowing – or deliberately ignoring the possibility – that they were working for an Iranian agent or another hostile organization.

The couple allegedly filmed residential targets in Ashdod, Beersheba, Haifa, and Kadima-Tzoran, documenting the buildings or homes, their surroundings, and the routes leading to them.

The targets included a Beersheba apartment building where an employee of a defense facility lived, as well as a private home in Kadima-Tzoran belonging to a member of the security services. The indictment said the defendants were sent photographs of the people they were asked to locate but did not know their identities.

At several locations, the handler instructed them to return and repeat the filming because he was dissatisfied with the footage.

Suspects sent to film mall emergency exits, Eilat port

The couple was also allegedly sent to Ramat Aviv Mall in Tel Aviv to document its emergency exits and identify an area not covered by security cameras. Prosecutors said they filmed part of a staircase between the mall’s first and second floors after determining that it did not appear to be under camera surveillance.

In late June, the pair traveled to Eilat, where they allegedly filmed the promenade, coastline, port area, and ships they believed were military vessels. During the journey, Amshukov also filmed a security installation near Dimona without knowing its purpose and sent the footage to the handler.

The handler later instructed the pair to approach a closed military port and photograph ships, telling Amshukov to take a panoramic photograph of a naval base. Amshukov reached the area but left without completing the assignment because he became afraid, according to the indictment.

After complaining about the quality of the footage, the handler allegedly transferred $1,200 for Amshukov to purchase a new phone with a higher-quality camera. Kushnirenko allegedly helped configure the phone before the pair returned to the Eilat promenade and port area and sent additional recordings.

Amshukov was later sent to Mount Herzl in Jerusalem, where prosecutors said he filmed the entrance, surrounding area, access roads, and IDF soldiers. He returned the following day and allegedly filmed additional parts of the site, including the Herzl Museum.

The handler also proposed assignments that were not completed, including renting an apartment in Haifa and installing a camera overlooking building entrances, finding someone to retrieve a package arriving by sea, transferring money, and recruiting taxi drivers to carry out missions.

Suspected spies received over $4,400 in cryptocurrency

Prosecutors said the defendants received approximately $4,450 in cryptocurrency, while a further $2,300 remained unpaid. They were arrested before carrying out another alleged assignment in Beersheba.

In the detention request, prosecutors said both defendants admitted carrying out the assignments. They initially denied knowing that they were working for Iran but later acknowledged that they had understood this during the Eilat mission and had continued performing tasks, according to the state.

The prosecution said its evidence included material extracted from their phones, videos, and photographs, cryptocurrency-wallet records, communications data, and security-camera footage. Amshukov allegedly deleted most of his correspondence with the handler from his personal phone.

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The US Air Force has begun relocating some of its aerial refueling aircraft that had been stationed at Ben-Gurion Airport in recent weeks, amid ongoing security developments, N12 reported on Thursday.

The move comes after Transportation Minister Miri Regev pressed Israeli security officials to clear the refueling aircraft from the airport in order to ensure normal operations during one of Ben-Gurion‘s busiest travel periods.

More than 2.6 million passengers are expected to pass through Ben-Gurion Airport during August, making it one of the airport’s busiest months since the October 7 massacre.

A Boeing KC-46A Pegasus sits on the tarmac at Boeing facilities at Boeing Field in this aerial photo in Seattle, Washington, U.S. (credit: REUTERS/LINDSEY WASSON)

Hundreds of thousands of travelers expected in Ben-Gurion

Airport authorities expect an average of approximately 100,000 passengers to travel through Ben-Gurion each day throughout the month. Thursdays are forecast to be the busiest days of the week, while Monday, August 17, is expected to be the single busiest day of the month.

The relocation of the US tanker aircraft is intended to free valuable parking and operational space at the airport as airlines continue to handle increased passenger volumes during the summer travel season.

The report did not specify how many aircraft were relocated or where they were transferred.

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