Russia and Ukraine may conduct another prisoner exchange soon, according to Human Rights Commissioner Yana Lantratova, as reported by the Russian news agency TASS on Tuesday.

Additionally, a Ukrainian attack reportedly damaged a school building in a Russian-controlled area of Ukraine’s Zaporizhzhia region, according to local authorities.

This is a developing story.

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Around 20 people have drowned while swimming in unsupervised areas in France since the weekend, authorities said on Tuesday, as people tried to escape a heatwave sweeping across large parts of Europe.

Much of France was set to experience temperatures around 40 degrees Celsius (104 degrees Fahrenheit) on Tuesday, forecaster MeteoFrance said.

“There have been around 20 deaths since last weekend,” French sports minister Marina Ferrari told France Inter radio.

“To go swimming in unauthorised areas, during a heatwave, is not something to take lightly,” she added.

This is a developing story.

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Prime Minister Benjamin Netanyahu is looking into reserving spots on the Likud party list for Foreign Minister Gideon Sa’ar and former Finance Minister Moshe Kahlon in the top ten slots, Kan News reported on Tuesday, citing Likud sources.

According to the report, Netanyahu would also reserve a seat for the Chairman of the Center for Local Government and Modi’in-Maccabim-Re’ut Mayor Haim Bibas, lower on the list.

Sources within the Likud told Kan that Netanyahu is pushing to reserve eight or nine candidates on the party’s Knesset list, with three being in the top ten.

Reports have also indicated that Netanyahu recently approached IDF soldier Ari Spitz with an offer to join the list. Spitz was severely wounded serving in the Gaza Strip and lost both of his legs and an arm, and also lit a torch at this year’s Independence Day ceremony.

Likud to meet on Wednesday to discuss future of party, primaries

The Likud is set to meet on Wednesday to discuss the party’s future and to debate replacing the primaries with a “selection committee” system.

The meeting will be attended by the prime minister, party secretary Haim Katz, and other members of the party’s institutions.

Party officials are applying significant pressure on their leadership to reach a decision as soon as possible, and have expressed growing anger within the party over the delay in determining their political future.

The option of canceling the primaries is increasingly seen as less likely due to legal and internal party obstacles. 

The prime minister has said in closed conversations that there is broad agreement within Likud on the need to refresh and renew the party list. A small number of reserved slots would be absorbed within the list and would not bring about the meaningful change the list requires. 

In his view, there is not a single candidate who can bring voters with them, and therefore, a mass of new candidates is needed in order to politically reshape Likud and demonstrate renewal and upgrading.

Primaries are ‘beating heart of Likud movement’

“The primary system is not a technical tool but the beating heart of the Likud movement,” Netivot Mayor Yehiel Zohar told Walla.  

“It is the only mechanism that ensures proper representation for districts, women, the periphery, and entire sectors in Israeli society who see Likud as their political home.”

The Netivot mayor said he supports specific reserved slots on the list, but “from there to canceling primaries is a huge leap.”

He explained that a limited number of reserved spots approved by Likud institutions is, in his view, a legitimate tool for making targeted adjustments intended to balance and diversify the list. 

“But this tool must come as an addition to grassroots selection, not as a replacement. Likud’s strength lies in the power of the people’s choice, not in alienated lists born in closed rooms,” he stressed.

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Billions of dollars hang in the balance as Indonesia faces a potential market-status downgrade that could spur another round of capital flight from the country.

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WASHINGTON — Millions of Americans with obesity are eagerly awaiting a powerful new drug from Eli Lilly called retatrutide, which has demonstrated bariatric-surgery levels of weight loss. Some aren’t even waiting for approval from the Food and Drug Administration, instead racing to acquire it through sketchy means.

But STAT has learned that Eli Lilly and the FDA have allowed one person to gain access to the drug through the FDA’s “compassionate use” program, a pathway that gives patients with serious and immediately life-threatening medical issues access to experimental treatments. 

This person was a 79-year-old man at the time the request was made in April, according to three sources familiar with the matter. Those sources, who requested anonymity due to fear of reprisals, said it drew the interest of top health officials, suggesting the person receiving this drug was well connected.

Continue to STAT+ to read the full story…

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Doctors using OpenEvidence will soon be able to upload an image of an electrocardiogram to get an algorithmic prediction of whether a patient has structural heart disease. 

Called EchoNext, the artificial intelligence model was developed by researchers at New York-Presbyterian Hospital and Columbia University and is being commercialized by a spinout called Pathway Labs. The company this month received a sweeping Food and Drug Administration clearance for the technology that can sniff out seven forms of structural heart disease — including conditions where blood doesn’t flow properly through the organ owing to blocked or leaky valves and where the chambers of the heart don’t pump blood as well as they should — from EKG. 

In addition to marketing it to hospitals, Pathway will take the novel step of licensing the technology to OpenEvidence, a medical evidence search engine that’s used by hundreds of thousands of clinicians.

Continue to STAT+ to read the full story…

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Sometime before the end of June, the Supreme Court is expected to deliver its opinion in Trump v. Barbara, the case challenging President Trump’s executive order seeking to end birthright citizenship in the United States. At stake is the long-standing interpretation of the Citizenship Clause of the 14th Amendment, which for more than a century has been understood and affirmed to mean that any child born in the United States, regardless of their parents’ citizenship status, is a U.S. citizen (with a remarkably narrow exception carved out for the children of diplomats).

Ending the guarantee of birthright citizenship would dramatically increase the size of the undocumented population in the U.S. and could invite a future executive to nullify the citizenship of countless American-born children of immigrants. It would also have stark consequences at the intersection of bioethics and public health.

Read the rest…

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There’s a particular cruelty buried in the new Medicaid work requirement rules recently proposed by the administration, and it’s received almost no attention. It’s not just the law itself, the One Big Beautiful Bill Act, which cut Medicaid by nearly $1 trillion last summer. The problem is the regulation implementing those cuts, which goes further than the law requires.

When OBBBA passed, Congress was explicit: People with disabilities were exempt from work requirements. The bill’s own champions, including House Energy and Commerce Committee Chair Brett Guthrie (R-Ky.), promised repeatedly that work requirements would not affect disabled people, and that Medicaid cuts were about “strengthening Medicaid for those who truly need it.” The law backed that up with a broad exemption for people who are “medically frail.”

Read the rest…

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Britain is considering forcing social media companies to prioritise what the government called trusted news sources as part of its broader push to tighten regulation of the sector.

The culture department said on Monday it was considering requiring platforms such as Meta’s Facebook, Alphabet-owned  YouTube and TikTok to make content from public service media – including the BBC, ITV ITV.L and Channel 4 – and other trusted news providers easier to find in users’ feeds and searches.

The move comes a week after the government announced a ban on under-16s using most social media platforms.

Data from media regulator Ofcom show social media has become a main source for a majority of UK adults and around three-quarters of younger people aged 16 to 24. Separate Ofcom research from 2024 found four in 10 UK adults had encountered misinformation in a single month, most of it online.

“It is vital that we make sure that people have better access to trusted and accurate news and that our regulated public service media is seen and heard in the fierce battle against mis- and disinformation,” culture minister Lisa Nandy said in a statement.

Tackling misinformation during crises

Boosting the visibility of regulated news providers could help tackle misinformation, particularly during crises, the government said.

However, any move to influence how platforms rank content is likely to face scrutiny from the social media firms, which say such rules could override user choice and disadvantage other creators.

X, Meta, TikTok and YouTube did not immediately respond to requests for comment.

The proposals form part of a broader overhaul of Britain’s public service media system to help broadcasters compete with streaming platforms and shifting viewing habits.

Ministers are also considering widening public service media status to include online-only providers, extending free-to-air protections for major sporting events to on-demand viewing, and consulting on a shift to internet-based TV from 2034 or 2044.

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Africa Israel Hotels is launching a summer campaign for 2026 with discounts and vacation packages at hotels in Jerusalem, Tel Aviv, Netanya and the Dead Sea, the company announced.

The offers will be available for bookings made from July 1 to July 15, with stays to be redeemed on selected dates until September 1, subject to the chain’s terms, availability and room inventory.

The campaign comes ahead of Israel’s summer vacation season, when families, couples and groups often look for domestic travel options. According to the company, the packages are aimed at making vacations in Israel more affordable by combining hotel stays with family attractions, entertainment, and leisure activities.

At VERT Jerusalem, guests booking at least two nights will receive a 20% discount throughout the week. Families booking two nights or more from Sunday to Wednesday will also be eligible for the chain’s “Attractions on us” package, allowing them to choose one complimentary activity from several Jerusalem attractions, including the Western Wall Tunnels, the Time Elevator, the Bloomfield Science Museum, a Cinema City movie or the Biblical Zoo.

At Crowne Plaza Tel Aviv, guests will receive a 20% midweek discount with no minimum-night requirement. The hotel will also offer an attractions package through the nearby Lev Hayam Sea Center Club, where guests can choose between a one-hour stand-up paddleboard session per person or a kayak ride for a couple and a child at no extra cost.

Crowne Plaza Tel Aviv City Center will offer a 20% midweek discount, also with no minimum-night requirement. The hotel is also promoting packages that combine accommodation with entertainment, including a pair of tickets to a show.

Breakfast for two?

Thursday and Friday stays with breakfast will start at NIS 1,200 per couple, including two show tickets. Half-board packages will start at NIS 1,560 per couple. Performers listed by the chain include Orna Banai, Lital Schwartz, and additional artists.

At Poli House Hotel Tel Aviv, the chain will offer a tiered summer benefit: 20% off a one-night booking, 50% off the second night for guests booking two nights, and a third night free for guests booking three nights.

VERT Lagoon Netanya will offer a 15% midweek discount during July, with no minimum-night requirement. In August, the hotel will offer a 15% discount for bookings of at least two nights from Sunday to Wednesday.

At Seanet Hotel Tel Aviv, guests will receive a 15% discount and complimentary breakfast, with no minimum-night requirement.

At VERT Dead Sea Hotel, families booking at least two midweek nights from Sunday to Wednesday will receive a free stay for the first child.

“In summer 2026, we wanted to give our guests much more than a vacation,” said Liron Dalal Arad, sales manager of Africa Israel Hotels. “We created a wide range of benefits and packages that combine accommodation, entertainment, attractions and experiences for the whole family, alongside especially attractive prices.”

Dalal Arad said the chain was seeing strong demand for vacations in Israel, adding that consumers were looking for added value when choosing hotels.

“Whether it is a family vacation in Jerusalem, an urban weekend in Tel Aviv, a seaside vacation in Netanya or a refresh in the Dead Sea, everyone will be able to find the vacation that suits them within the chain’s summer campaign,” she said.

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Lionel Messi added to his legacy Monday afternoon by scoring his record-breaking 17th career World Cup goal in the first half before adding his 18th in second-half stoppage time of Argentina’s 2-0 win over Austria in Arlington, Texas.

The 17th goal broke a tie with Germany’s Miroslav Klose. The 18th briefly put him four in front of Kylian Mbappe, the next-closest active player – only for the French star to score a brace later Monday against Iraq to match Klose’s 16.

“Well, I’m very happy because of this victory,” Messi said immediately after the match through an interpreter. “This was a very important and tough victory. We worked very hard on it. And that reassures us for what’s coming next.

“So this is a World Cup. All of the matches are very intense, and all of the teams play well. And we’re happy because we have six points and we’re qualified.”

Messi, who turns 39 on Wednesday, has scored 11 of his historic total of 18 goals since turning 35. His total from the last two World Cups alone would be tied for seventh on the tournament’s all-time scoring list.

Messi and his his record-setting goal 

Messi scored his record-setting goal on a first-touch left-footed strike from just inside the 18-yard box in the 38th minute off an assist from Facundo Medina.

He completed his brace five minutes into added time, cleaning up his own rebound following a surging counterattack and firing low through traffic. That gave him a two-goal lead over Canada’s Jonathan David and Germany’s Deniz Undav in the 2026 World Cup Golden Boot race.

Asked for his favorite World Cup goal of his career, Messi could not pinpoint one.

“I don’t remember, really,” he said. “I’m tired. I don’t have a lot of strength and it’s hard to think for me right now. So I’m just enjoying this moment and I want to join my colleagues.”

Messi, who became one of the first two players to appear in six World Cups last week alongside Portugal’s Cristiano Ronaldo, entered this summer’s event three goals behind Klose. Behind his first career World Cup hat trick in the Group J opener vs. Algeria on June 16, he pulled even entering the second group-stage match.

With the goal, Messi also tied a different World Cup record, scoring in his sixth straight match dating back to the 2022 World Cup which Argentina won. He’s just the third player to score in six straight World Cup matches alongside France’s Just Fontaine and Brazil’s Jairzinho.

He appeared destined to break the record approximately 30 minutes earlier when Lautaro Martinez was tackled in the box and Argentina was awarded a penalty kick. However, Messi missed the ensuing penalty kick wide of the right post in the ninth minute.

“I had the penalty that I could have scored,” Messi said. “Well, maybe had I done that, I wouldn’t have scored the others. You never know. But I’m happy about the results because of our participation and the teamwork. Well, let’s hope it will even go better.”

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The US-Iran technical talks in Switzerland have concluded successfully, and will allow both sides to move toward negotiations at higher levels, Iranian Deputy Foreign Minister Kazem Gharibabadi announced on Tuesday.

The next stage of talks will be overseen primarily by senior officials on both sides, including Iran’s Parliamentary Speaker, Mohammad Bagher Ghalibaf, Iran’s Foreign Minister, Abbas Araghchi, and Vice President of the United States, JD Vance.

The conclusion of the first session of talks was initially announced in a joint statement on Monday morning by mediators Qatar and Pakistan.

According to the two countries, the talks were conducted in a “positive and constructive atmosphere,” despite the Iranian delegation walking out of negotiations on Sunday night in protest at US President Donald Trump’s threats to resume strikes unless the Strait of Hormuz is reopened.

Later on Tuesday, the Iranian Ambassador reported to the United Nations in Geneva that there had been “some good progress in negotiations between the US and Iran in Switzerland.”

The ambassador also emphasized that “Lebanon is an integral part of the MOU peace agreement. There should be no further attacks against Lebanon, and the agreement includes the withdrawal of Israeli troops.”

US, Iran work to establish committee for political oversight during future talks

“When implementing a ceasefire and ending the war becomes difficult, we can resolve it either through missiles or through negotiations,” Ghalibaf told reporters while leaving Switzerland.

“I told Vance: ‘We are here engaged in talks, and according to the signed understanding, the first clause states that there should be no threats or coercion. Yet today, your president has issued threats. Understand that we never negotiate under threats or pressure.’”

Both Iran and the US have agreed to establish a High-Level Committee for political oversight during future talks, said the joint statement.

Chief negotiators will regularly report to the committee on the status of negotiations, which has agreed to establish a roadmap to reach a final deal within 60 days.

Jerusalem Post Staff contributed to this report.

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US Secretary of State Marco Rubio faces a delicate mission this week pitching Washington’s Iran peace deal to Gulf Arab leaders who fear excessive concessions will strengthen Tehran and reshape the region’s security balance and oil flows.

Rubio will meet them in the United Arab Emirates on Tuesday, before traveling to Kuwait and Bahrain, where he will meet officials from the Gulf Cooperation Council, a grouping of monarchies that also includes Saudi Arabia, Qatar and Oman.

At issue are elements of a draft agreement that include no limits on Iran’s ballistic missiles, a proposed $300 billion reconstruction fund and provisions that could expand Tehran’s regional influence and control over critical oil shipping lanes.

All six GCC nations are strategic US allies that offered some degree of logistical support to Washington during the US-Israeli war with Iran that began four months ago and all were buffeted by Iranian airstrikes as a result.

Some of those countries are feeling privately disappointed – and surprised – by an interim deal that could open the door to US normalization with Iran, a predominantly Shi’ite country that most Sunni GCC states consider their main adversary.

The opinions of these nations matter to US policymakers.

The UAE, Saudi Arabia, Qatar, Kuwait and Bahrain all host US military bases that in turn make up the backbone of America’s security architecture in the Middle East. Should any of those countries rethink their security relationship with the US, even in a subtle way, it could have a significant impact on US military strategy in the region.

For Rubio personally, the trip requires a balancing act.

While America’s top diplomat needs to assuage regional allies, he must do so without appearing to criticize the US-Iran memorandum of understanding. President Donald Trump, who signed the accord last week, remains firmly behind it despite criticism from some of his fellow Republicans in Congress who have accused the administration of capitulating to Tehran.

Andrew Peek, a former deputy assistant secretary of state for Iraq and Iran who served on Trump’s National Security Council during both his terms, argued that Rubio could reassure any nervous allies by pointing out that Trump has a history of being tough on the Islamic Republic.

“I think you can just remind them that the president has conducted extremely hawkish policies toward Iran – and if this MoU falls through, he will have no compunction about going back to striking them,” said Peek, who is now at the Atlantic Council think tank.

Peace, but at what cost?

Leaders from all GCC countries hosting Rubio or present at this week’s talks at least publicly pushed for a diplomatic solution before the war kicked off in February. Most also pushed for a diplomatic off-ramp during the conflict, even as they in practice facilitated the US war effort.

Still, the specific terms of the MoU privately shocked regional officials, according to analysts and diplomats.

One concern relates to ballistic missiles. Throughout the war, the Trump administration said that destroying Iran’s ballistic missile capacity was a central goal. That objective aligned with the interests of the Sunni Gulf states as – unlike the US – all are well within Iran’s ballistic range and have been targeted by Iranian missiles.

The MoU, however, does not mention Iranian missiles at all, and Trump himself has in recent days said that denying Tehran such weapons would be “unfair.”

The MoU also foresees a $300 billion reconstruction fund for Tehran, which regional neighbors fear could allow the Islamic Republic to build up its military capacity, while increasing support for regional proxy groups that could destabilize governments throughout the region.

Bahrain’s mainly Sunni leadership, in particular, is concerned that a well-funded Iran could foment an uprising among the island nation’s mainly Shi’ite populace, analysts say. During the Arab Spring, the nation of roughly 1.65 million was the site of massive recurring street protests.

Iran has denied any covert attempts to stoke unrest but has publicly expressed support for Bahraini Shi’ite activists in the past.

The accord, as written, also appears to concede that Iran could have a key role in controlling the Strait of Hormuz going forward, a major concern for Kuwait, Qatar and Saudi Arabia, which rely on the strait to export oil and gas.

More broadly, US officials have begun speaking about a broader reset for Tehran, a potential transformation that most GCC states are wary of. On Saturday, Vice President JD Vance said the US was willing to “fundamentally transform” its relationship with Tehran.

“The agreement rehabilitates Tehran’s regime as a regional power,” veteran Saudi columnist Abdulrahman Al-Rashed wrote in Saudi English-language daily Arab News last week.

“Most of the funds Tehran will acquire in the coming weeks are likely to go primarily towards strengthening the military position, not to support living conditions or the Iranian economy.”

 

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Lender and GSE responses to the “lender choice” credit score selection policy announced last year are likely to have significant impacts on the allocation of mortgage credit among credit investors.  As analyzed in several studies, including my own, absent a response by the GSEs, there is the potential for adverse selection to raise credit risk for the two housing agencies as lenders rationally select the highest credit score (either FICO® or VantageScore® 4.0) to send to Fannie Mae or Freddie Mac

The GSEs’ likely response would be to raise loan-level price adjustments (LLPAs) in an effort to mitigate potential adverse selection.  We’ve seen this movie before when the GSEs raised LLPAs on investor properties and second homes, with private investors absorbing a large share of these loans.  A new best execution pricing analysis suggests a similar fate awaits the GSEs should they raise LLPAs to levels consistent with actuarial pricing of credit risk.

The mechanics of best execution analysis

In maximizing value, a lender will conduct a best execution analysis of all revenue and cost components associated with originating and servicing a mortgage for different dispositions of the loan.  In addition to GSE execution, a loan could be sold into a Ginnie Mae securitization, a private label securitization (PLS), or, if the lender is a depository, a portfolio disposition.  Finding the all-in highest price among alternatives winds up being the best execution.  In the case of GSE-eligible loans, a key driver is the LLPA assigned to the loan by the GSE.  Therein lies the link between lender choice and credit allocation. 

A recent study by Milliman estimated that LLPAs across credit scores would need to increase from current levels in order to compensate the GSEs for the potential incremental credit risk from adverse selection.  While the increase in estimated LLPAs is not as large as the increases in LLPAs made by the GSEs for investor properties or second-home loans, where GSE purchases of those loans fell by 20%, it could nonetheless be material.  A key question is, if we were to assume the GSEs raised LLPAs consistent with the Milliman analysis, what impact would it have on credit allocation and risk?

Scenario analysis: Projecting credit shifts

To analyze this, I used a sample of 200,000 recent GSE loans in an industry-standard best execution pricing analysis under multiple scenarios.  One scenario examined best execution pricing for a depository where the possible dispositions included a GSE, Ginnie and private-label securities (PLS) securitization as well as portfolio retention. An independent mortgage banker (IMB) best execution was also performed without the portfolio retention option.  The analysis was conducted across credit score buckets used in LLPA grids currently under a Classic FICO (current state) and lender choice (future state) scenario. 

A summary of the depository results is shown in Table 1 below.  

Table 1: Classic FICO® vs lender choice best ex depository disposition

Between the Classic FICO and lender choice scenarios, the GSEs would see a marked shift away from them toward FHA and, to a lesser extent, portfolio lenders in the 660 to 740 credit score range.  PLS would wind up being the optimal takeout for credit scores above 760.  This is generally consistent with industry expectations that lower credit quality loans are a more likely disposition for FHA and that private capital is a more likely outlet for the highest credit quality loans.  Similar results hold for IMBs as shown in Table 2.

Table 2: IMB best execution – Classic FICO® vs lender choice

Table displaying IMB best execution – Classic FICO® vs lender choice.

Market outcomes and the future of credit allocation

Another interesting result is that while the GSEs would experience a decline in volume in this analysis, their estimated loss rates would remain relatively the same, while FHA loss rates could increase by nearly 14% under the lender choice scenario from the baseline Classic FICO scenario.  Given that FHA delinquency rates have been on an upward march recently, such an outcome would not bode well either for the Mutual Mortgage Insurance Fund or for mortgage servicers of these loans that would bear higher expenses.

So, what are the likely results and implications from lender choice on credit allocation?

  • First, absent other influences, higher LLPAs to address lender choice risk would likely lead to a material reduction in the volume of loans sold to the GSEs.  The analysis did not account for other non-pricing factors, such as policy and other operational differences between dispositions, which would tend to lessen the outflow implied by this pricing analysis. However, the analysis suggests that some decline in GSE volume is a reasonable expectation.  It is also consistent with what occurred when the GSEs raised LLPAs on second homes and investor properties.
  • Consistent with industry expectations, the analysis shows that the Ginnie Mae (FHA) disposition is a better execution for lower credit scores, and PLS is a better execution for the highest credit scores. Higher LLPAs would worsen the GSE execution, further widening the pricing gap between dispositions.  
  • Depositories would see some pickup in portfolio executions from higher LLPAs, and this would be more pronounced at lower target return levels.  Additional increases in portfolio execution would occur if LTV-based risk weights for mortgages are adopted by bank regulatory agencies for determining capital requirements.
  • As a result of the impact of higher LLPAs that would lower GSE best ex pricing, some reallocation of credit risk is likely, with FHA taking a greater allocation of that risk than other credit investors.

A primary takeaway from this analysis is that lender choice is likely to impose major effects on the allocation of loans and credit among credit investors, with a great deal of uncertainty in the process.  While this analysis provides a structured way of understanding potential relative shifts in loan allocation and risk via an industry-standard best ex pricing framework, much more work is needed to assess the impacts of one of the biggest policy changes to mortgage underwriting in years.

Clifford Rossi is the Principal at Chesapeake Risk Advisors, LLC. Over a 25-year industry career spanning the S&L and 2008 financial crises, Dr. Rossi worked for both Fannie Mae, Freddie Mac as well as some of the largest banks in various C-level risk management positions.
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: zeb@hwmedia.com. 

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North Korean leader Kim Jong Un said exercising the country’s position as a nuclear state is the only way to cope with an unpredictable and complicated global security situation, KCNA state news agency reported on Tuesday.

“Unimaginable, astonishing incidents and events” are occurring because of the “gangster-like” greed of hegemonic forces, making confrontations around the world more violent, Kim said, blaming the US for worsening bloodshed in Europe and the Middle East.

He was speaking at a Central Committee meeting of the ruling Workers’ Party, running from Saturday to Monday, KCNA said.

Kim accused the US and South Korea of making the security situation on the Korean Peninsula more dangerous by steadily upgrading their combined nuclear posture, the only purpose of which, he said, is to attack North Korea.

“To steadily expand and strengthen the nuclear forces … and to thoroughly exercise the position of a nuclear weapons state is the most correct and unique way to actively and confidently cope with the unpredictable international military and political situation getting complicated in multiple ways,” KCNA said.

KCNA did not elaborate on specific actions regarding the country’s nuclear arsenal that might be taken.

Buildup of arsenal ordered

Kim also ordered the buildup of conventional weapons and accelerated construction of a 10,000-ton strategic guided missile cruiser, KCNA said.

Yang Moo-jin, a professor at the University of North Korean Studies in Seoul, said the comments underscore Pyongyang’s continued rejection of denuclearisation and push for recognition as a nuclear state.

“North Korea is once again reaffirming that denuclearisation talks are off the table,” Yang said, adding it would only engage in negotiations “as a nuclear weapons state on an equal footing,” potentially focusing on arms reduction rather than dismantlement.

Such talks would imply acceptance of a minimum deterrent and require sanctions relief, he said, fundamentally differing from phased denuclearisation proposals, such as those raised by South Korean President Lee Jae Myung to US President Donald Trump at the G7.

Yang said that references in the party meeting to the US-South Korea Nuclear Consultative Group, a body aimed at deterring North Korea’s nuclear threat, and Seoul’s ambitions to develop a nuclear-powered submarine were being used by Pyongyang to justify its nuclear buildup.

North Korea has defied a slew of sanctions imposed by both the United Nations and the US between 2006 and 2017, banning Pyongyang from developing nuclear weapons and ballistic missiles to deliver them. Its stance has alarmed regional powers.

It has declared itself a nuclear state and has said nothing would convince it to abandon its atomic weapons, despite years of diplomatic efforts by the US, China and South Korea.

The party meeting also highlighted a push to modernize the coal industry and redevelop mining communities, which Kim described as a strategic priority.

“Coal effectively remains North Korea’s main energy resource,” Yang said, noting plans to upgrade the industry aimed at easing chronic energy shortages.

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The US Justice Department said on Monday it opened a probe into a small coffee shop chain in New York City that posted online that it would have turned away pro-Israel US Representative Dan Goldman had it recognized him during a weekend visit.

“The Civil Rights Division has opened an investigation and will bring an enforcement action if warranted,” Assistant Attorney General Harmeet Dhillon said on X/Twitter.

“Federal law prohibits public accommodations such as coffee shops from discriminating against patrons based on their race, religion, or national origin,” she said.

Goldman, a Democrat, visited Poetica Coffee in Williamsburg, Brooklyn, outside his district, with his 7-year-old daughter on Sunday, The New York Times reported.

‘We don’t serve genocide enablers,’ Poetica Coffee says

“We see that you stopped by our shop today for a coffee,” Poetica Coffee said on Instagram.

Goldman said he went there so his daughter could use the restroom and that he bought a coffee to thank staff for allowing her to do so.

“We don’t serve racists, fascists, homophobes, genocide enablers or anyone in between,” Poetica Coffee said. “Too bad we didn’t recognize you right away, or we would have turned you away.”

The coffee shop said it issued a refund. “Don’t ever come to Poetica,” it added.

Its post was no longer visible on Monday. The Instagram account seems to have been deactivated.

Goldman is endorsed by New York Governor Kathy Hochul and is facing off in a June 23 primary against Brad Lander, the former New York City comptroller backed by Mayor Zohran Mamdani. Both Lander and Goldman are Jewish.

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Oil prices bounced around on Tuesday, June 23, 2026, as traders struggled to read conflicting signals from the on-again, off-again peace talks between the United States and Iran. The choppiness followed a decision by Washington to grant Iran a 60-day license to sell oil on international markets — a move that raised hopes for a faster recovery in global supply but did little to settle nerves about whether a lasting deal will hold. West Texas Intermediate crude, the US benchmark, hovered near $74 a barrel, close to its lowest since early March, while Brent crude, the global benchmark, traded near $78.

The broad direction for oil has been lower. Prices have fallen sharply from their wartime peaks, when Brent soared above $120 a barrel at the height of the conflict. The pullback reflects a growing belief among traders that the supply crisis is easing. Tanker traffic through the Strait of Hormuz, the narrow waterway that carries a large share of the world’s oil, has begun to pick up again.

Producers including Kuwait and the United Arab Emirates have found alternative routes to get their crude to market, and Iran itself shipped more than 30 million barrels over the past week. The Strait had been effectively shut for much of the conflict, stranding ships and choking off roughly a fifth of global oil flows. Its gradual reopening is the single biggest reason prices have come down.

But the path to peace has been bumpy, and that is what keeps prices swinging. Late last week, talks scheduled in Switzerland were abruptly called off, and Vice President JD Vance scrapped a planned trip there, citing unresolved issues around the negotiations. The two sides have reached a roadmap toward a final deal within 60 days, but President Donald Trump still has to sign off, and past flare-ups have shown how quickly the mood can turn.

A fresh point of friction is Iran’s nuclear program. Vice President Vance said Tehran had agreed to let nuclear inspectors back in — a key US demand. Iranian officials denied making any such commitment. The disagreement is a reminder that even as oil starts flowing again, the political deal underneath it remains far from settled.

Energy analysts are watching closely. Tamas Varga of PVM Oil Associates said the conditional reopening of the Strait of Hormuz, the end of the US naval blockade, and the lifting of emergency declarations by Kuwait have convinced many traders that the disruption which once drove prices above $120 is “well and truly over.” Separately, OPEC Secretary General Haitham Al Ghais said the group does not expect global oil demand to peak anytime soon, pushing back on forecasts of a coming supply glut.

For American drivers and households, the drop in crude is welcome news. Lower oil prices feed through to cheaper gasoline, diesel, and heating fuel, easing one of the biggest squeezes on family budgets this year. During the worst of the conflict, California gas prices topped $5 a gallon. As crude retreats toward levels last seen in early spring, relief at the pump should follow, though it usually takes a few weeks to show up.

Cheaper energy also takes pressure off inflation, which matters for every business that ships goods, runs factories, or pays utility bills. It is one reason the recent slide in oil has been a quiet bright spot even as stock markets wobble over the technology selloff. Falling fuel costs give the Federal Reserve a bit more breathing room, too, although Chair Kevin Warsh has signaled he remains focused on keeping inflation in check.

What happens next depends almost entirely on the talks. If the 60-day roadmap turns into a signed agreement and the Strait of Hormuz fully reopens, traders expect oil to keep drifting lower as stranded supply returns to market. If the negotiations break down again, or if attacks on shipping resume, prices could snap higher just as fast as they fell. For now, the market is stuck in between — drifting down on hope, jumping on every sign of trouble.

JBizNews Desk

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European stock markets are set to open sharply lower on Tuesday, June 23, 2026, as a global selloff in technology shares sweeps in from Asia. Futures tied to the region’s main indexes were pointing down more than 1% before the open, after the Korea Exchange was forced to halt trading earlier in the day when South Korea’s Kospi index plunged as much as 9%. The selling that started in chip stocks overnight is now rolling toward Frankfurt, Paris, and London.

The trigger is the same worry rattling markets worldwide: that this year’s enormous run-up in artificial intelligence and semiconductor stocks has climbed too far, too fast. When investors decide to lock in profits all at once, the selling tends to hit hardest the bets that the most people had piled into — and few have been more popular in 2026 than chips.

The damage across Asia set the tone. A broad gauge of Asian stocks dropped 3.4%, Japan’s Nikkei 225 slipped 0.6% and the Topix fell 0.5%, both pulling back from record highs. In the US, futures pointed lower too, with S&P 500 contracts off more than 1% and Nasdaq 100 futures down about 2%. The MSCI All Country World Index, the widest measure of global stocks, fell 0.6%.

Europe’s own chip and tech names are likely to bear the brunt. The Netherlands’ ASML, the world’s most important supplier of chipmaking machines, along with Germany’s Infineon Technologies, France’s STMicroelectronics, and software giant SAP, tend to move in lockstep with the global semiconductor trade. When chip stocks fall in Asia and the US, these European heavyweights usually follow at the open.

Adding to the unease, the Japanese yen sank toward its weakest level in 40 years, trading around 161.5 per dollar. The slide reflects a widening gap between the US Federal Reserve, where Chair Kevin Warsh has signaled rates could rise again this year, and the Bank of Japan, which has moved far more slowly. The dollar index, which measures the greenback against major currencies, sits near a one-year high, up about 3% in 2026. A strong dollar and rising US rate expectations tend to pull money out of riskier assets everywhere, European stocks included.

For European exporters, a stronger dollar is not all bad — it makes their goods cheaper for American buyers. But the broader signal of climbing US rates usually weighs on share prices across the board, especially the high-priced tech names that have led the market higher.

One bright spot is energy. Mediators Qatar and Pakistan said the US and Iran have agreed on a roadmap toward a final deal within 60 days, and Washington granted Tehran a 60-day license to sell oil abroad. That pushed oil prices down nearly 2%, with Brent crude near $79 a barrel — welcome news for fuel-hungry European economies, even as Iran’s announced closure of the Strait of Hormuz keeps some risk in the picture.

Not every corner of the European market is likely to suffer. On past selloff days, defensive sectors such as utilities, healthcare, and consumer staples have held up better than tech, and falling oil prices tend to help airlines and other heavy fuel users. Defense stocks, a standout performer in Europe this year, have also shown they can buck broad declines.

The bigger question for European investors is whether Tuesday marks a brief stumble or the start of a deeper cooldown in the AI trade. The companies at the center of the selloff are still reporting strong demand for their chips, and Europe’s main indexes have spent much of 2026 near record highs. A single rough open does not undo that. But the speed of the drop is a reminder of how quickly money can rush for the exits when a popular trade turns.

Traders will now watch how Wall Street opens later Tuesday and whether the selling in chips slows. If US tech steadies, Europe’s losses could prove shallow. If it does not, the pullback that began in Seoul and Tokyo may have further to run.

JBizNews Desk

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A wave of selling swept through global technology stocks on Tuesday, June 23, 2026, while the Japanese yen slid toward its weakest level in 40 years — a one-two punch that put markets on edge from Tokyo to New York. Japan’s Finance Minister Satsuki Katayama said Tuesday she had spoken by phone with US Treasury Secretary Scott Bessent, agreeing the two governments would coordinate in currency markets if needed, as the yen weakened to around 161.5 per dollar, near its lowest since 1986.

The stock damage was led by the chip and AI names that have driven this year’s record run. South Korea’s Kospi tumbled more than 9% at one point, forcing a 20-minute trading halt by the Korea Exchange. In Japan, the Nikkei 225 slipped 0.6% to below 72,000 and the broader Topix fell 0.5%, both pulling back from record highs. US futures pointed lower too, with S&P 500 contracts off more than 1% and Nasdaq 100 futures down about 2%.

The selling was broad. The MSCI All Country World Index, the widest measure of global stocks, fell 0.6%, while a gauge of Asian shares dropped 3.4%. Investors pulled money out of the same technology stocks that have soared all year, locking in profits as worries grew that the rally had climbed too far, too fast.

In Tokyo, the biggest decliners were AI-linked heavyweights. SoftBank Group fell 5.8%, Furukawa Electric lost 4.6%, Murata Manufacturing slipped 3.9%, JX Advanced Metals dropped 3.1%, and Taiyo Yuden eased 1.7%. The pullback followed an overnight drop in major US tech shares, showing how tightly global chip stocks now move together.

The yen’s slide is a different story, and it comes down to interest rates. The Bank of Japan raised its key rate last week by a quarter point to 1%, its highest in more than three decades. But that is still far below the Federal Reserve’s 3.5% to 3.75%, and Fed Chair Kevin Warsh has signaled the US could raise rates again later this year. When one country pays much more interest than another, money flows toward the higher payout — and right now that means out of the yen and into the dollar.

This gap fuels what traders call the “carry trade”: borrowing cheaply in yen and parking the money in higher-yielding dollar assets. As long as the rate difference stays wide, the pressure on the yen keeps building. The dollar index, which measures the greenback against major currencies, sits near a one-year high, up about 3% in 2026.

Japan has tried to fight back. Tokyo spent a record 11.7 trillion yen, about $73 billion, propping up the currency in April, but those gains have since vanished. Analysts doubt another round would work for long. Matt Simpson, senior market analyst at StoneX, said Tokyo may feel powerless against the pull of Fed rate expectations. Masahiko Loo, senior fixed income strategist at State Street, called last week’s hike a “Band-Aid on a bullet wound” for the yen. Adding to the strain are the spending plans of Prime Minister Sanae Takaichi, whose pro-growth, easy-money leanings have unsettled investors.

Hanging over all of it are the US-Iran peace talks. Mediators Qatar and Pakistan said the two sides reached a roadmap toward a final deal within 60 days, and Washington granted Tehran a 60-day license to sell oil abroad. That helped push oil prices down nearly 2%, with Brent crude near $79 a barrel. But Iran’s announcement that it had closed the Strait of Hormuz, a vital shipping lane, kept traders uneasy.

For Americans, a stronger dollar is a mixed bag. It makes imported goods, foreign travel, and overseas products cheaper, but it squeezes US companies that sell abroad by making their goods pricier for foreign buyers. For Japanese households, the weak yen does the opposite — it drives up the cost of imported food and fuel, a real hit to family budgets already strained by Middle East energy prices.

The next test comes from two directions: whether the AI-driven stock rally can steady after Tuesday’s shake-out, and whether Tokyo finally steps in to defend the yen. For now, the world’s markets are caught between a US central bank leaning toward higher rates and a Japanese one moving far more slowly — a divide that is reshaping where global money flows.

JBizNews Desk

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South Korea’s stock market was forced to stop trading on Tuesday, June 23, 2026, after the benchmark Kospi index collapsed in the opening hour, triggering an automatic safety halt run by the Korea Exchange. The index fell as much as 9% from last week’s record high before the exchange suspended trading for 20 minutes — one of only a handful of times in its history that the so-called circuit breaker has been pulled.

The plunge was led by the two companies that have powered Korea’s market all year: Samsung Electronics and SK Hynix, the world’s biggest makers of memory chips. At the worst point of the session, SK Hynix dropped more than 12% and Samsung lost more than 10%. By the time the market steadied, the Kospi had pared its loss to roughly 5% to 6%, sitting near 8,620.

The simplest explanation is that the rally had run extraordinarily hot. The Kospi is up about 78% so far in 2026 after climbing 76% in 2025, making it one of the best-performing major markets in the world. Much of that gain came from a global rush into chips used to build artificial intelligence systems. When a market climbs that fast, even a small scare can send investors racing to lock in profits — and that is what happened Tuesday.

Two pieces of news lit the fuse. The first was a report that South Korea will not be upgraded to “developed market” status in the next index review by MSCI, the firm whose stock benchmarks steer trillions of dollars in global investment. Many in Seoul had hoped an upgrade would pull in a fresh wave of foreign money. Word that it would not come this round took away a reason some overseas funds had to keep buying.

The second was a Korean media report that SK Hynix plans to slow production of high-bandwidth memory, or HBM — the specialized chips that feed AI servers — in order to make more of a different, higher-margin product. That rattled traders, because HBM is the exact business that turned SK Hynix into a star.

The timing was striking. Just one day earlier, on Monday, SK Hynix passed Samsung Electronics to become South Korea’s most valuable listed company — the first time any firm has held that title above Samsung since 2000. SK Hynix shares have soared more than 340% this year. The company is now the leading supplier of HBM chips to AI customers including Nvidia and Alphabet, and analysts estimate it controlled about 61% of the global HBM market last year, compared with 17% for Samsung.

The selling spread well beyond the chipmakers. Among the day’s hardest-hit names, DLG Exhibitions & Events fell 17.2%, Dae Won Chem dropped 15.9%, Enex lost 15.6%, Haesung DS shed 15%, and Hansol Technics slid 12.9%. The wide damage showed this was not just a chip story — it was investors pulling money off the table across the board.

The Korea Exchange uses the circuit breaker to cool panic. When the Kospi falls 8% or more and holds there for at least a minute, all trading stops for 20 minutes before it resumes. Earlier in the session the exchange also set off a “sidecar,” a separate curb that briefly freezes computer-driven sell orders. Both tools are designed to give human traders a moment to catch their breath.

For ordinary Koreans, the stakes are real. Everyday investors poured into the market during this year’s run, and the country’s national pension fund holds large stakes in both Samsung and SK Hynix. A sharp drop hits household savings directly. It also reaches far beyond Korea: Samsung and SK Hynix make a huge share of the memory chips inside phones, laptops, cars, and the data centers running AI, so swings in their shares ripple through the entire technology supply chain.

Whether Tuesday marks a brief stumble or the start of a deeper cooldown will depend on whether the AI buying spree holds up. The companies at the center of the sell-off are still reporting record demand for their chips. But the day was a sharp reminder that a market built so heavily on two names can fall just as fast as it climbed.

JBizNews Desk

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In a rare bipartisan move on affordability, the U.S. Senate on Monday, June 22, passed sweeping housing legislation that would, for the first time, place a federal limit on how many single-family homes large investors can buy. The 21st Century ROAD to Housing Act, shepherded by Senate Banking Committee Chairman Tim Scott, a South Carolina Republican, and ranking member Elizabeth Warren, a Massachusetts Democrat, would cap big institutional investors at 350 single-family homes. The House is expected to vote on the measure later this week, and President Donald Trump has signaled his support, putting the bill within reach of becoming law.

The centerpiece is the cap itself. The provision would bar large institutional investors — the private-equity-backed firms that have bought up tens of thousands of houses to rent out — from acquiring single-family homes beyond the 350-home limit, with penalties for violators. Money collected from those fines would be redirected toward new housing construction and assistance for first-time buyers, including help with down payments and closing costs. Lawmakers dropped a more contentious earlier provision that would have forced investors to sell certain newly built units within seven years, settling instead on the ownership cap. Exceptions remain for build-to-rent homes constructed specifically as rentals and for houses that need major renovation to meet code.

The investor cap is one piece of a much larger package — what supporters call the biggest federal housing bill in roughly 30 years, with more than 45 provisions aimed at boosting supply and lowering costs. Among them are streamlined reviews for affordable-housing development, changes to manufactured-housing rules that could cut as much as $10,000 off the price of a new factory-built home, preservation of rural housing for some 400,000 families, and incentives for communities that build more. The bill also carries a separate measure temporarily barring the Federal Reserve from issuing a central bank digital currency.

The timing is no accident. Both parties are racing to show progress on affordability and the cost of living ahead of the 2026 midterm elections, with housing consistently ranking among voters’ top concerns. Warren framed the bill as a matter of principle, arguing that private equity should not be allowed to dominate the housing market, while Scott emphasized reducing red tape and increasing supply. Trump has also backed efforts to curb large-scale Wall Street ownership of homes.

For the housing and investment industries, the stakes are significant. The cap would directly affect large single-family rental operators and the private-equity firms behind them, companies that expanded aggressively after the 2008 financial crisis. Yet research on their impact remains mixed. The Urban Institute has found that large investors operating in multiple markets own roughly 3% of single-family rentals nationwide, while Freddie Mac has concluded that institutional investors play a relatively small role in housing-price increases compared with broader factors such as limited construction, zoning restrictions and migration patterns.

That debate has fueled industry pushback. The National Association of Home Builders, the Mortgage Bankers Association and dozens of other groups have warned that investor restrictions could discourage build-to-rent development and reduce housing supply. The National Association of Realtors, however, has supported the legislation, saying it shares the goal of expanding access to homeownership. The carveout preserving build-to-rent projects was included largely in response to those concerns.

Beyond housing, the legislation marks a notable moment in federal policy. Supporters argue it represents one of the first direct congressional efforts to limit private-equity ownership within a major sector of the economy. Critics contend it addresses only a small portion of the housing shortage while leaving larger supply challenges unresolved.

The bill now moves to the House of Representatives, where lawmakers will consider the Senate version and its amendments. If approved and signed by President Trump, the investor cap would take effect approximately six months after enactment. For millions of Americans struggling with high home prices and rents, lawmakers from both parties are betting the measure will demonstrate that Washington is finally taking action on housing affordability.

JBizNews Desk
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A Montreal Police officer (SPVM) and a Jewish man was killed, in a shooting attack in the Côte-des-Neiges neighborhood of Montreal, Canada, on Monday. A second officer was seriously wounded.

The civilian was identified as Michael Moshe Mizrahi, a Jewish local and member of the local Chabad center. The police officer who was killed in the shooting was identified by SPVM as 34-year-old Constable Mohamed Lamine Benredouane who joined the SPVM in 2021.

Mizrahi was originally from Lebanon before moving to Israel and later settling in Montreal. He leaves behind a son and two daughters in Israel, ZAKA is working with local authorities to bring Mizrahi’s body to Israel for burial. 

“On behalf of the people and the State of Israel, the Consulate extends its sincere condolences to the family of Michel Mizrahi Z”L, an Israeli citizen who was killed today in Montreal. This family knows all too well the horrors of terror and violence, making this tragic loss even more painful,” Israel’s Consul General in Montreal posted to X. “May his memory forever be a source of blessing, and may his family find comfort and strength during this difficult time.”

SPMV issued threat alert after shooting began, shelter in place orders later lifted

The attack began around 11:30 am EST, after 20-30 shots were reported to have been fired next to the Hilton Hotel in the heavily Jewish area of Montreal.

The SPVM posted an imminent threat alert for an armed and dangerous suspect in the Cote-des-Neiges sector, sending out an Amber Alert for local residents to shelter in place. “Avoid the area, if you are in the affected area, shelter indoor, lock the doors, stay away from windows and follow instructions of local authorities,” the alert read.

The attack took place next to numerous kosher restaurants, a Chabad center, Jewish schools, and Jewish community centers. All Jewish businesses and schools in the area were on lockdown, another source told The Jerusalem Post. The alert was later lifted after police had finished searching the area for additional gunmen.

Montreal police (SPVM) are at the scene of an ongoing shooting attack in the Côte-des-Neiges neighborhood of the city. June 22, 2026 (VIA SECTION 27A OF THE COPYRIGHT ACT)

Videos from the scene showed a sequence of events, including Benredouane on the ground and a second police officer opening fire at Mizrahi, . The second officer was later seriously wounded by the attacker. The gunman was seen face down wearing camouflage, and a rifle (seemingly an SKS) visible on the floor nearby.

The gunman was later identified by local media as Seth Hatfield from the Canadian province of Alberta. It’s believed he drove several hours to get to Montreal before carrying out the attack. According to local media, Hatfield prepared a manifesto before opening fire and sent it to various media outlets.

The suspect’s 104 page manifesto called for a violent revolution to take down modern capitalist society and attacked police, Jews, women and pornography. In 1989, 14 female students at Montreal’s Polytechnique engineering department were murdered by Marc Lépine who claimed that women had ruined his life. The Polytechnique is a short drive from Monday’s attack. 

Chief of SPVM Fady Dagher says the investigation is still ongoing

In a press conference, Chief of SPVM Fady Dagher said that the suspect had been neutralized but that the investigation was still ongoing.

“We have no information that there is another suspect,” he said.

According to Dagher, it was 24 years since Montreal lost a police officer in the line of duty.

“This was a nightmare, the worst sort of nightmare,” he said. “When you become a police officer, you know the risks. But you never expect something like this to happen.

“The policewoman who was in critical condition is now in stable condition and no longer fears for her life,” Dagher added.

He would, however, not respond to questions about the identity of the civilian or who killed the civilian.

Dagher said the police have possession of the manifesto, but has also not concluded whether the attack was an ambush, or if the suspect is part of a wider network.

Quebec’s police watchdog, the Bureau des enquêtes indépendantes (BEI), is now investigating the shooting. According to Canadian media, the BEI investigates all cases where a civilian is killed or is injured during a police intervention or while in police custody.

The Centre for Israel and Jewish Affairs (CIJA) is closely monitoring the situation. 

The Centre for Israel and Jewish Affairs (CIJA) said it is closely following the situation, adding “thoughts first go to all those affected by this incident, as well as to all the police officers mobilized to ensure the safety of citizens.”

CIJA also sent “sincere condolences” to the family of the fallen officer, his loved ones, and all his colleagues.

“We are wholeheartedly with the law enforcement forces who risk their lives every day to ensure our safety.”

Montreal Mayor Soraya Martinez Ferrada said, “My deepest condolences to the family, loved ones, and colleagues of the police officer who died in the line of duty in Côte-des-Neiges.”

“My thoughts are also with all those affected by this tragedy.”

Jerusalem Post Staff contributed to this report.

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The IDF has expanded its operational control to approximately 70% of the Gaza Strip, and defense officials believe the area under Israeli control could grow further in the coming months.

“It is possible that the scope of operational control in Palestinian territory will increase in the coming months, while Hamas is allegedly dragging its feet, entrenching itself in the field, recruiting operatives, and preparing for war with Israel,” a security source told Walla.

The assessment comes as Israeli defense officials express concern that Hamas is delaying implementation of the ceasefire agreement while rebuilding its capabilities and preparing for the possibility of renewed fighting.

Although Israel’s security focus remains heavily directed toward Iran and Lebanon, Southern Command chief Maj.-Gen. Yaniv Asor is overseeing three parallel efforts in Gaza: addressing threats along the Yellow Line, expanding Israeli operational control and defensive infrastructure, and preparing for a possible future campaign against Hamas while shaping the Rafah area under a proposed US-backed “green city” initiative.

According to defense officials, the Southern Command conducts daily assessments along the Yellow Line and in other parts of Gaza. The effort combines intelligence from IDF Military Intelligence and the Shin Bet to identify emerging threats and coordinate operational responses.

Preparing for attacks and monitoring threats

Officials said the assessments are designed to detect preparations for attacks, monitor terrorist operatives and commanders, respond to immediate threats requiring ground or air strikes, and protect the boundary between Israeli-controlled areas and territory held by Hamas.

The military is also dealing with incidents in which Hamas allegedly sends civilians toward Israeli positions in an effort to provoke contact with troops.

According to a security official quoted by Walla, the IDF and Shin Bet maintain a list of targets who were directly or indirectly involved in the October 7 massacre, including individuals accused of participating in the holding of hostages.

At the same time, the military continues to strengthen defenses along the Yellow Line. Officials said Hamas has continued to challenge Israeli forces in the area and has not complied with demands to disarm.

The IDF is also expanding security zones near Israeli communities adjacent to Gaza amid concerns about the possibility of future attacks.

As part of that effort, forces are building new routes, paving roads, upgrading positions facing the Yellow Line, improving intelligence-gathering capabilities, and reinforcing the area with regular and reserve troops.

Military preparations are focused on two longer-term tracks

The first involves planning for a possible large-scale campaign against Hamas. Defense officials said that if Hamas refuses to disarm and demilitarize, the IDF could be required, subject to government approval, to launch a new offensive. Officials believe many Hamas operatives and commanders remain concentrated in Gaza City.

The second track centers on preparations for a proposed US-backed civilian zone in the Rafah area. The initiative, referred to as a “green city,” is intended to create an area free of terrorist activity and could move forward even if Hamas does not disarm and even if a multinational force is not deployed.

According to Walla, the United States has already issued infrastructure and construction tenders connected to the project. In its initial phase, the plan would provide facilities for approximately 50,000 Palestinians who would undergo security screening before being allowed to reside in the zone.

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A United Nations official warned on Monday that efforts to repair divisions and stabilize southern Syria have stalled nearly a year after deadly sectarian violence in a Druze-majority province shook the country.

A UN investigation in March found more than 1,700 people, most civilian members of the Druze religious sect and some members of the Bedouin community, were killed in southern Sweida province in July 2025. It said Syrian government forces, tribal fighters and Druze armed groups may have committed war crimes.

A government-led, internationally backed roadmap launched in September 2025 was intended to restore order and repair relations among Druze factions, Bedouins and the government.

UN Deputy Special Envoy for Syria Claudio Cordone told the Security Council on Monday: “There has been no progress on the implementation of the September 2025 roadmap of confidence-building and reintegration in Sweida.”

Cordone said underlying issues remained unresolved while calls from some Druze for the province to secede have threatened Syria’s unity and territorial integrity. While they make up the vast majority of Sweida’s population, the Druze are a minority in Syria as a whole.

Kidnappings, counter-kidnappings and rivalries among Druze factions continued to undermine security in the province, he added.

The envoy said 13,500 students in Sweida were unable to sit national examinations this month after UN-supported mediation failed to resolve disagreements over location and security. Most students in the province have now missed exams for two consecutive years, according to the UN

The remarks underscored the challenges facing Syria’s transitional authorities in Sweida, which has been a political and security flashpoint since the overthrow of President Bashar al-Assad in 2024.

Druze armed groups have hindered progress, claim Syrian officials 

Syrian officials including Sweida Governor Mustafa al-Bakour, an appointee of the Damascus government, argue Druze armed groups have hindered progress. He told Qatari-owned Syria TV in April that these factions obstructed efforts to restore state institutions, improve services and rebuild trust. Bakour said the government continued to fund public salaries, support healthcare and education and restore infrastructure in Sweida despite security challenges. He said Damascus remained committed to dialog and rejected Druze factions’ accusations that the central government has restricted food and other supplies to the province.

Druze leaders, who do not speak with a unified voice, have pushed back, saying they are safeguarding their community after last year’s violence and accusing Damascus of eroding trust through its conduct during the clashes.

Cordone also cited concerns about the country’s political transition, noting Syria’s transitional parliament has not been constituted more than eight months after elections. President Ahmed al-Sharaa must still appoint a third of the its members.

“The delay is generating anxiety,” Cordone told the Security Council.

Syria’s Ministry of Information did not immediately respond to a request for comment.

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Senior leaders of Hamas‘ political bureau held a highly confidential meeting with a French delegation, according to a Monday report from Saudi newspaper Asharq Al-Awsat.

It reported that the meeting took place “recently” in an unspecified country in the Middle East. 

Two Palestinian sources spoke to Asharq Al-Awsat, one from Palestinian civil society elements who maintain working relations with France and other European countries, and the other from a Palestinian organization close to Hamas. They described the meeting as “top secret,” adding that some Palestinian factions were only informed shortly before or after it was held.

This marks the first reported meeting of Hamas leaders with European officials since the October 7 massacre.

According to the report, the French delegation included current and former diplomats, as well as members of parliament from the ruling coalition and opposition parties. 

Focus on Palestinian Internal affairs

A source from Palestinian civil society said the talks were largely focused on Palestinian internal affairs, improving national reconciliation, and advancing a political process aimed at ending the conflict with Israel.

The source also told Asharq Al-Awsat that discussions also touched on supporting establishing a Palestinian state within “the 1967 borders,” meaning the pre-Six-Day War armistice lines.

Since October 7, France has been a leading advocate for a two-state solution that would allow for the establishment of a Palestinian state alongside the State of Israel.

Israel-France relations are strained

The reported meeting comes a few weeks after the French National Anti-Terrorism Prosecutor’s Office (PNAT) announced in Paris that it had opened a preliminary investigation against Israel.

The probe followed allegations by Global Sumud Flotilla activists of “torture and war crimes” against them.

The investigation was initiated following a formal referral submitted to the prosecutor’s office by French Foreign Minister Jean-Noël Barrot. The move was prompted by a video published by National Security Minister Itamar Ben-Gvir showing the activists being brought to Ashdod Port.

According to an AFP report cited by French media, the preliminary investigation will be conducted by the Central Office for Combating Crimes against Humanity and Hate Crimes (OCLCH).

In September 2025, France recognized a Palestinian state at a world summit in New York, a move that Prime Minister Benjamin Netanyahu said was “fueling antisemitism.”

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IDF sources warn that Hezbollah appears to be using radio activity to locate and target senior field commanders in southern Lebanon, in a manner that raises red flags and will require a change in operational patterns.

The IDF predicts that Hezbollah has re-established an observance and intelligence collection system across the yellow line in southern Lebanon, which it is using to launch nighttime operations aimed at identifying senior command in the field.

An investigation into the incident in which the 52nd battalion commander and three other fighters in the tank were killed, taken alongside the former 401st Brigade getting seriously injured in a drone strike, and the death of the deputy commander of the 36th Division, who was hit by an explosive device, found that Hezbollah is likely using highly skilled technological efforts, mainly at night, to locate radio activity and signs indicating senior command in the field.

A few weeks ago, a drone hit Northern Command Major General Rafi Milo’s car while it was parked in southern Lebanon, just minutes after he got out of it.

The investigation’s findings revealed Hezbollah target commanders

An in-depth analysis conducted by Division 146 found that the organization’s vital assets mainly include its collection work on IDF forces in southern Lebanon, which uses not only drones but also observers and cameras, and draws on its familiarity with the terrain.

Military officials estimated that, throughout the war between Israel and Hezbollah, Iran continues to supply the terror organization with drones and advanced intelligence-gathering and observation technology, even at night.

According to military officials, these events require the IDF to re-evaluate its methods and quickly implement the lessons of the investigations among all forces in the field.

This is happening amid American pressure on Israel to withdraw some troops as a “goodwill gesture” ahead of Israel-Lebanon negotiations that are set to take place in Washington on Tuesday.

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New York City Mayor Zohran Mamdani on Monday defended his use of the word “monsters” to describe AIPAC at a rally on Friday for progressive candidates, as some of his Jewish supporters expressed concern that the term may connote an antisemitic trope.

The war of words came as the American Israel Public Affairs Committee is increasingly a target of the progressive movement, including in acts of attempted violence, and as progressive Jews have accused some Israeli right-wing figures of dehumanizing liberal pro-Israel lobbying groups.

“Calling AIPAC and its backers ‘monsters’ casts them as less than human, rather than as human beings who are one’s political opponents,” Rabbi Jill Jacobs, head of the progressive rabbinic human rights group T’ruah, wrote in a Substack post Monday.

“I was taken aback,” Rabbi Misha Shulman, a Mamdani supporter who leads the progressive Brooklyn synagogue The New Shul, told the Jewish Telegraphic Agency about the mayor’s comments. “I didn’t like those remarks. It was a little bit of a flag for me.”

Mamdani defends word choice 

At a press conference, Mamdani said he had been quoting Italian anti-fascist philosopher Antonio Gramsci, whose quote ending “Now is the time of monsters” the mayor had cited at the top of his speech. The rally was intended to boost the mayor’s preferred progressive candidates, including Jewish congressional candidate Brad Lander, ahead of New York’s closely watched Tuesday primaries.

“I used the term to describe all those who are preventing the birth of a new world,” Mamdani told a reporter who asked about the word. He continued, “My use of the term is a broad use that speaks to the untenable nature of a status quo that is quite literally starving people in this city, all in the name of sustaining something that we simply cannot defend any longer.” He did not explain how he saw AIPAC as connected to poverty in New York.

Mamdani insisted he was referring to “not solely AIPAC,” but he singled out the organization again in his Monday remarks to reporters, saying the lobbying group was backing “a status quo for immorality.” 

During the rally last week, Mamdani had stated that Gramsci’s “monsters take many forms today,” including “AIPAC, for whom the only thing more frightening than democracy being allowed to run its course is an end to genocide and [Israeli Prime Minister Benjamin] Netanyahu’s wars.” He added that AIPAC’s “goal” is “to turn us against one another.”

For some of the progressive Jews who have supported the mayor, his comments sounded alarms about the use of dehumanizing or sinister rhetoric to describe Jewish groups.

But Shulman said it was actually Mamdani’s remarks in the same speech painting AIPAC as a “dark money” group that was most alarming to him. AIPAC, a lobbying organization that also operates a political spending arm, does not conceal its donors, unlike the traditional profile of a so-called “dark money” campaign finance operation.

“For me, the question of dark money was the tougher knot,” Shulman said, calling Mamdani’s remarks a “tactical mistake.” In the context of rising antisemitism, he added, “For a left-wing leader to use that phrase, and invite traditional antisemitism into this conversation in that way, was not smart.”

Shulman is a member of Israelis For Peace, a New York-based ad-hoc group of progressive Israelis who broadly back Mamdani. While not speaking on behalf of the group, he told JTA their internal group chat lit up with debates over the appropriateness of Mamdani’s speech. 

Mamdani’s words part of a ‘disturbing trend’

Jacobs of T’ruah said Mamdani’s remarks were part of what she described as a “disturbing trend” of recent left-wing attacks on the lobbying group, including Maine Democratic US Senate nominee Graham Platner accusing his GOP opponent of being “bought and paid for by Benjamin Netanyahu” because of AIPAC’s donations to her campaign. 

Rep. Ro Khanna, a California Democrat who has aspirations of higher office, also recently became the first sitting member of Congress to sign a pledge from Track AIPAC, a purported AIPAC watchdog that also targets donations from more liberal pro-Israel groups, including J Street.

Over the weekend, a cafe posted on Instagram that it had rejected a payment from liberal Jewish New York Rep. Dan Goldman, whom Lander is challenging in the primary, because the money was “probably coming from AIPAC.” (Goldman has been endorsed by both AIPAC and J Street.)

While noting that AIPAC “absolutely deserves to be criticized, sidelined, and rejected for its decades of negative influence on American foreign policy,” Jacobs wrote that such critiques should be done “without dehumanizing language, and without hinting at a grand Jewish conspiracy.” 

Such pushback from Jews who have worked with Mamdani is rare. JTA reached out to representatives for several of the mayor’s most visible Jewish allies on Monday, including Lander and Vermont Sen. Bernie Sanders, who spoke at the same rally. Sanders also criticized AIPAC. Neither returned requests for comment by press time. On social media after the rally, Lander celebrated the event, calling it “a tremendous honor” to rally alongside Mamdani.

IfNotNow and Jews For Racial and Economic Justice, two Jewish activist groups that endorsed Mamdani, similarly did not respond to requests for comment by press time. A spokesperson for Rep. Jerry Nadler, the retiring liberal Jewish Democrat who had endorsed Mamdani’s mayoral bid, also did not respond by press time.

J Street, the liberal pro-Israel lobby that positions itself as a foil to AIPAC, declined to comment on Mamdani’s remarks. Last month, hundreds of Jewish leaders criticized Yehuda Leiter, Israel’s ambassador to the United States, after Leiter called J Street a “cancer within the Jewish community.” Nadler was among the signatories of an open letter that said Leiter “dehumanizes fellow Jews.”

Centrist Jewish groups and figures, already no fans of Mamdani, also bashed his AIPAC comments. “Referring to fellow New Yorkers as ‘monsters’ is outrageous and dangerous, and the impact of your words extends far beyond politics,” American Jewish Committee CEO Ted Deutch wrote on X, addressing Mamdani. 

Rep. Josh Gottheimer, a Jewish Democrat representing New Jersey, wrote, “Swap ‘AIPAC’ for ‘Jews’ and it’s the oldest antisemitic conspiracy theory in the books.” 

Both posts were reposted by AIPAC, which otherwise did not comment.

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Haifa District Court sentenced 28-year-old Haifa resident, Dimitri Cohen, to eight and a half years in prison on Monday, after he was convicted of having contact with a foreign agent and seven additional offenses of attempting to provide information that could be used by the enemy, Iran, and its terrorist proxies, during wartime.

Cohen was arrested in May of last year, in a joint operation by the Shin Bet (Israel Security Agency) and the Central Unit of Israel Police’s Coastal District. He was found to have carried out a series of tasks for a foreign agent who presented themselves as a private investigator.

According to an indictment filed against him by the Haifa District Attorney’s Office, Cohen was looking for work online in the spring of 2025, when a man calling himself “David” approached him with an offer to carry out tasks for which he would be paid $500 per task in cryptocurrency. 

“David” introduced himself as the owner of a private investigation firm called “Jupiter” that specialized in investigating cases of infidelity between spouses. “David” instructed Cohen to perform various surveillance tasks for him, beginning in Tirat Carmel.

Cohen was also asked to purchase an “operational” phone and a SIM card to use to contact the foreign agent. “David” spoke to him in Russian with a heavy Caucasian accent and through phone numbers with Russian and Portuguese area codes.

Cohen instructed to photograph private homes, roadways, ports

Cohen, who lived near the Haifa Port passenger terminal, was initially asked to observe and photograph private homes, the Baha’i Gardens, and Haifa Bay.

Later, he was instructed to photograph sections of major roads throughout the country, including along coastal roads, Highway 4, and the road alongside Highway 40 from Beersheba to Mitzpe Ramon. Cohen also photographed the road from Kibbutz Samar to Eilat, the Port of Eilat, and ships in the Bay of Eilat.

The court noted that Cohen not only photographed the roadsides but also directional signs, power lines, facilities, and infrastructure along the roads, and the Hadera power plant.

Cohen did edit some of the videos he filmed, deleting documentation of military bases and sensitive facilities, after realizing that the information was of security value. However, the court ruled that providing the information and photographs that he did include could have aided the enemy and posed a broader intelligence threat.

Judges ruled Cohen ‘turned blind eye’ to warning signs

The court ruled that from the beginning of Cohen’s engagement with “David,” he suspected that “David” was an agent acting on behalf of Iran, and that the suspicion grew stronger as the missions became more security-related.

Judges Erez Porat, Nitzan Silman, and Rivka Eisenberg ruled that Cohen “turned a blind eye” to the many warning signs, including the use of foreign phone numbers, unusual payments, warnings from his friends and his partner, and the fact that he was unable to locate the private investigation firm that allegedly employed him.

In the sentencing decision, the judges noted that Cohen’s offenses were committed while Israel was engaged in an active war with Iran and its terrorist proxies, and that harsher punishment was necessary given the growing number of cases in which Israeli citizens are recruited by hostile actors through social media and Telegram.

Despite the seriousness of the offenses, the judges took into account that Cohen was a young man with no prior criminal record who expressed remorse and acted from financial rather than ideological motives.

They also considered the fact that he refused to carry out an additional assignment in the Eilat Port area after realizing its severity.

Ultimately, he was sentenced to eight and a half years in prison, retroactive to the date of his arrest on May 27, 2025, along with three years of probation.

“I regret everything I did. I was wrong, and this is the biggest mistake I made in my life,” Cohen told Walla before the first hearing in his case, when the indictment was filed.

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A New York City coffee shop banned a Jewish Congressman from the establishment on Sunday, stating that they “don’t serve racists, fascists, homophobes, genocide enablers” after Democratic Congressman Dan Goldman visited the cafe with his child.

Poetica Coffee, a chain with seven locations across New York City, posted a photo of Democratic Congressman Dan Goldman on Facebook and Instagram. It was captioned, “We see that you stopped by our coffee shop today for a coffee. Do you see how it doesn’t taste like genocide juice?”

“We don’t serve racists, fascists, homophobes, genocide enablers. Too bad we didn’t recognize you right away, or we would have turned you away.”

The shop claims to have issued Goldman an unrequested refund for $9.82, saying, “We issued you a refund – we don’t need your money (it’s probably coming from AIPAC anyways).”

They alluded to the primary challenge Goldman is facing in tomorrow’s election, saying, “Enjoy your loss on Tuesday. Don’t ever come to Poetica.”

The post was accompanied by the song “F*** you” by British singer-songwriter Lily Allen.

Poetica’s Instagram account and the Lorimer Street Branch’s Facebook page appear to have been taken down since.

Doubling down on antisemitism

Shortly before the account was deleted, Poetica Coffee posted a screenshot of a threatening email from “ilovehitler@hitlerwasright.com” saying “F*** you Nazi. May you die painfully,” with the caption “well, well, well.”

On their website, Poetica boasts “Radical hospitality,” saying that “the guest is sacred, the books are unbanned, and the door is open to everyone.”

Goldman is a Jewish centrist and is critical of the Israeli government and the war in Gaza. Although he supports Israel’s existence, he has called the war a “humanitarian crisis,” and described the current coalition as an “extremist government” that “unjustly hurts Palestinians.”

He commented on the post, saying that his seven-year-old daughter needed to use the bathroom, and he made the purchase as a thank-you.

Responses to the post

New York Mayor Zohran Mamdani responded to the incident, saying, “I’m glad Poetica took down their post, and I thought Representative Goldman’s reply was extremely gracious.”

Radio host Ari Hoffman said in a post on X/Twitter that “This story proves that no matter how left you are, you can never be left enough for the radicals.”

Rabbi Elchanan Poupko, President of EITAN – The American Israeli Jewish Network, added in his own X post that “I would love to better understand your process for accepting or denying service in your store, because I believe that, if this indeed happened, denying Dan Goldman service would violate civil rights law.”

Mark Treyger, CEO of the Jewish Community Relations Council of New York, issued a statement, saying, “Assigning collective blame to Jews or perceived supporters of Israel over disagreements with Middle East policies is the very definition of antisemitism.”

“It is shameful and hateful, and businesses open to the public do not get to discriminate based on religion, ancestry, ethnicity, or stereotypes.”

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During his run as the head of CBS Records, Clive Davis signed some of the biggest and most influential acts in rock-and-roll history, including Janis Joplin, Bruce Springsteen and Billy Joel.

But it nearly all came crashing down in 1973, after Davis allegedly siphoned some money from his label to pay for his son’s bar mitzvah.

The incident cost Davis, who died Monday at age 94, his job as a leading tastemaker of the music industry at the height of a transformative moment. To make sure he got the message, CBS filed a civil suit against Davis for misappropriation of funds, in which they specified he’d skimmed “at least” $20,000 for the simcha celebration for his son Fred. (Other misuses of funds were also alleged, including renovating his apartment.)

Davis pleaded guilty to failing to pay $2,700 on the expenses three years later.

Music meant October 7 hit close to home

Davis, who didn’t often speak about his Judaism publicly, was moved to speak out after the Oct. 7, 2023, deadly Hamas attacks on Israel. He noted that many of the victims had been attending a music festival. 

“I have made it my mission in life to fight for equality and human rights, advocating for those who do not have a voice in music and elsewhere,” he said. “You cannot be silent about antisemitism, or hate or discrimination of any kind.”

He was twice married and divorced, and came out as bisexual in 2013 in his well received autobiography, “The Soundtrack of my Life.” 

“On this night, after imbibing enough alcohol, I was open to responding to his sexual overtures,” he wrote about a sexual encounter with a man during the what he called “era of Studio 54,” the late 1970s, a time known for its promiscuity. “After my second marriage failed, I met a man who was also grounded in music. Having only had loving relationships and sexual intimacy with women, I opened myself up to the possibility that I could have that with a male, and found that I could.”

Whitney Houston, Biggie, and Kelly Clarkson

After the scandal he bounced back. In his second act, he founded Arista Records, named after the New York City public school system honor society to which the Brooklyn native and Harvard Law graduate had belonged. 

There he continued his talent for talent spotting, signing Aretha Franklin, bringing in the Grateful Dead and discovering a 19-year-old Whitney Houston. And CBS bought into the new label, setting aside years of bitterness.

Davis remained active in music for decades, helping to launch the career of the first “American Idol” breakout star, Kelly Clarkson, and helping launch Bad Boy Records, which shepherded acts like The Notorious BIG.

He was known for his unerring ear, frequently more in tune with the times than the artists he promoted. Paul Simon and Art Garfunkel, the Jewish folk rock duo, wanted to release the jaunty, sexy and concise “Cecilia” as the first single off their 1970 album, “Bridge Over Troubled Water.” Davis insisted on the title track, defying the pair’s claims that it was too long, too sentimental and too slow in building up to a climax. The single sold an astonishing 8 million copies, and won the best song and best record Grammies, an anxiety-imbued paean that became an emblem of the era. 

He also pressed Barry Manilow, the Jewish balladeer, to record “I Write the Songs” in 1975; Manilow, a prolific songwriter, resisted because this was one song he did not write. (Beach Boy Bruce Johnston had written the song.) Manilow’s soaring, sappy take reached the top spot on the Billboard charts.

“It is so important to have people smarts,” Davis told Billboard in one of his final interviews. Quoting advice he said he received from his mother, he continued, “You’ve got to get out there with people. You’ve got to learn from all walks of life, all races, all colors.”

Music meant October 7 hit close to home

Davis, who didn’t often speak about his Judaism publicly, was moved to speak out after the Oct. 7, 2023, deadly Hamas attacks on Israel. He noted that many of the victims had been attending a music festival. 

“I have made it my mission in life to fight for equality and human rights, advocating for those who do not have a voice in music and elsewhere,” he said. “You cannot be silent about antisemitism, or hate or discrimination of any kind.”

He was twice married and divorced, and came out as bisexual in 2013 in his well received autobiography, “The Soundtrack of my Life.” 

“On this night, after imbibing enough alcohol, I was open to responding to his sexual overtures,” he wrote about a sexual encounter with a man during the what he called “era of Studio 54,” the late 1970s, a time known for its promiscuity. “After my second marriage failed, I met a man who was also grounded in music. Having only had loving relationships and sexual intimacy with women, I opened myself up to the possibility that I could have that with a male, and found that I could.”

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New York’s primary elections are on Tuesday, and there’s no shortage of races that Jewish Americans should be keeping an eye on.

In New York City, several congressional seats are up for grabs, including the most Jewish district in the country, NY-12. Plus, will it be a rabbi or a Jewish lawyer who wins a state Assembly race on the Upper West Side?

Meanwhile, as a pair of pro-Israel congressmen take on Zohran Mamdani-backed progressives who are vocally pro-Palestinian and anti-Israel, Tuesday’s results will provide the latest reflection of where Democratic voters fall on the issue.

Outside the city, a Democratic primary will decide who will challenge pro-Israel Republican Congressman Mike Lawler for the NY-17 swing seat in November.

NY-12: The crown jewel

Rep. Jerry Nadler, a progressive stalwart and Congress’s most senior Jewish member, announced last fall that he would retire at the end of this term, leaving an open seat in the crown jewel district of New York politics: NY-12, which covers the Upper West and Upper East Sides, as well as midtown Manhattan. It is the most heavily Jewish district in the country, and a deep-blue district whose Democratic nominee is sure to succeed Nadler in Congress.

Four candidates (with double-digit polling numbers) are left standing: Micah Lasher, Alex Bores, Jack Schlossberg, and George Conway.

Lasher and Bores, both members of the State Assembly, are leading in the polls and are seen in many ways as very similar candidates, including in their pro-Israel, anti-Netanyahu stances. They’ve also both supported much of the same state-level legislation aimed at combating antisemitism.

Lasher, however, has the support of his former boss, Nadler, and much of the West Side political establishment. Bores, meanwhile, has built a coalition that includes both pro-Israel moderates and progressive groups critical of the Jewish state.

NY-10: Jewish incumbent vs. Jewish challenger

Many wondered what would become of former City Comptroller Brad Lander after he reportedly stumped for Zohran Mamdani in hopes of a role in his administration that he didn’t receive.

Now Lander, who was Mamdani’s most prominent Jewish ally, has the mayor’s full-throated support in his run to supplant incumbent Rep. Dan Goldman in NY-10, which includes Lower Manhattan and brownstone Brooklyn, for which Lander was a three-term City Council member.

Lander has homed in on Goldman’s endorsement from the American Israel Public Affairs Committee, the pro-Israel lobbying group that’s become anathema for progressives. (Goldman’s AIPAC endorsement has also been a sticking point for a number of his progressive critics.) Goldman, in turn, has emphasized that he’s endorsed by both AIPAC and the progressive J Street, two ideologically dissimilar pro-Israel groups, as evidence that he comes by his views independently.

The two candidates have made similar commitments to issues like fighting the Trump administration and ICE, but Lander has separated himself on the issue of Israel.

While Goldman has resisted growing calls for Democratic politicians to support conditioning military aid to Israel, Lander says Israel has committed genocide and opposes aid to Israel for both offensive weapons and the Iron Dome defensive missile system.

The latest poll, conducted in mid-May, had Lander ahead by 34 percentage points.

NY-13: From Columbia encampment to Congress?

Darializa Avila Chevalier is a Mamdani-backed, pro-Palestinian progressive who’s launching a challenge against incumbent Rep. Adriano Espaillat, a more moderate, pro-Israel lawmaker endorsed by AIPAC. Israel and AIPAC have been front and center in Avila Chevalier’s campaign in upper Manhattan and the Bronx, and she has said she would sign onto the Block the Bombs to Israel Act and oppose all military aid to the country.

Avila Chevalier attended an anti-Israel rally, which the Democratic Socialists of America had promoted, the day after Hamas’ Oct. 7, 2023, attack. Other DSA members like Mamdani have distanced themselves from the gathering, which drove some former DSA members like Lander away from the organization.

“She went to celebrate the death of innocent people in Israel right after the attack,” Espaillat said during a recent televised debate.

“I was there at that rally on Oct. 8 because I remembered what happened in 2014,” Avila Chevalier replied, referring to Israeli attacks on Gaza in 2014, which occurred shortly after she returned from an internship in the West Bank. “And I knew the reaction would be an outsized reaction that would cause the deaths of thousands upon thousands of people.”

One recent poll had Espaillat leading by 8 percentage points, while another survey, commissioned by a group that’s backing Avila Chevalier, had her ahead by 4.

NY-7: Valdez, Reynoso, and AIPAC in the “Commie Corridor”

There is no pro-Israel candidate in the primary for NY-7, the deeply progressive district that covers parts of Brooklyn and Queens, including the so-called Commie Corridor. But that hasn’t stopped AIPAC from becoming a central topic of the race, which is between three progressives who each accuse Israel of committing genocide.

State Assembly member Claire Valdez, who’s backed by Mamdani and the DSA and is the farthest-left candidate in the contest, suggested that her opponent, Brooklyn Borough President Antonio Reynoso, was being boosted by AIPAC expenditures. Valdez’s comments backfired after AIPAC was reported to be uninvolved with the super PAC boosting Reynoso.

Meanwhile, Reynoso and City Council member Julie Won, who’s running in third place, have criticized Valdez for benefiting from outside spending by super PACs, including the pro-Palestinian group American Priorities.

According to the latest poll from May, Valdez and Reynoso have 23% and 21% of the vote, with Won trailing at 13%. Forty-three percent remain undecided. The poll has a margin of error of 5.2%.

Valdez and Reynoso both oppose sending offensive and defensive military subsidies to Israel, and say they would sign onto the Block the Bombs Act.

Valdez has a longer history of involvement with pro-Palestinian advocacy and criticized Reynoso for accusing Israel of genocide only after he launched his campaign for Congress. She has attended a number of protests organized by the anti-Zionist group Jewish Voice for Peace in the last three years. She also cosponsored the reintroduction of Mamdani’s failed “Not on our dime!” act in the State Assembly, which is aimed at blocking nonprofits from funding Israeli settlements in the West Bank.

Reynoso has the backing of the district’s outgoing Rep. Nydia Velazquez, as well as Rep. Jerrold Nadler, state Attorney General Letitia James, and the left-wing Working Families Party. He’s also been endorsed by Hasidic leaders in Williamsburg’s heavily Orthodox community and has been campaigning alongside progressive City Council member Lincoln Restler, who is Jewish, to mobilize the community’s voting bloc.

NY-17: Lawler vs.?

In a swing district just north of New York City, three Democrats are battling it out for the opportunity to unseat Republican Rep. Mike Lawler in November. The district is heavily Jewish and includes Rockland and Putnam Counties, as well as parts of Westchester and Dutchess Counties.

Two of the three major candidates, Cait Conley and Beth Davidson, are occupying a more moderate space, attempting to appeal to constituents as supporters of Israel who oppose President Donald Trump and his administration. Effie Phillips-Staley, who has been polling consistently in third place, is a staunchly pro-Palestinian progressive who traveled to the West Bank this year and drew criticism after appearing on streamer Hasan Piker’s show to discuss her experience.

Conley, a former Biden national security adviser who has led in the latest polls, was endorsed by the pro-Israel group Democratic Majority for Israel.

Davidson, who’s Jewish, was a board member at her family’s synagogue and has credited that experience with driving her public service. She told JTA that she wants her campaign to be a “home” for Jews who’ve “felt lost in the Democratic Party.”

The primary’s winner will go on to face Lawler, who has the backing of AIPAC, and its super PAC’s $95-million war chest, and the Republican Jewish Coalition. The seat is regarded as one of the Democrats’ best chances for a pickup in the fall.

State Assembly: A rabbi and a Jewish lawyer walk into a polling place …

As he runs for Congress, Lasher is vacating his Upper West Side 69th Assembly district seat. The two candidates facing off (literally) to replace him are Rabbi Stephanie Ruskay, who’s been an associate dean at the Conservative movement’s Jewish Theological Seminary for 10 years, and Eli Northrup, a Jewish lawyer who is policy director for the Bronx Defenders.

Both candidates describe themselves as progressives. While Ruskay has been backed by a good deal of the West Side’s political establishment, Northrup has more left-wing support, with endorsements from Mamdani and Vermont Sen. Bernie Sanders.

In an interview, Ruskay told JTA that she views joining the State Assembly as “an extension of my rabbinate” and discussed the centrality of justice to her work in the Jewish professional world. If successful, she would be the first female rabbi elected to office in New York.

Northrup detailed his complicated views on the term “Zionism” in an interview with JTA, echoing the analysis in a Moment Magazine piece that the terms Zionism and Zionist have “outlived their usefulness both as concepts and as terms.”

It’s on in Albany: Hochul vs. Blakeman

Gov. Kathy Hochul and Nassau County Executive Bruce Blakeman are shoo-ins to win their respective primaries Tuesday, officially setting up a November gubernatorial election between the two.

Blakeman, who is Jewish, has framed his candidacy as a fight against not only Hochul but also against Mayor Mamdani. In speaking to Jewish voters who oppose the mayor, he has used Hochul’s endorsement and collaboration with Mamdani against her.

“I am running for governor because we can’t afford to have four more years of Comrade Kathy with three more years of Mamdani the Commie,” Blakeman said at a recent RJC event. Blakeman pointed to his record of coming down hard on pro-Palestinian protesters in Nassau County and blasted Mamdani for skipping the Israel Day parade.

Hochul, meanwhile, signed a bill creating 50-foot “buffer zones” outside houses of worship in New York and wrote that she was “proud to march alongside thousands of New Yorkers at the Israel Day Parade” the same day as the RJC event. A number of people marching were seen holding Blakeman campaign signs.

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The United States and Iran concluded talks in Switzerland on Monday. Mediators Qatar and Pakistan described “encouraging progress” and announced a 60-day road map toward a final agreement.

The talks had created a “good foundation,” US Vice President JD Vance said, adding that Iran agreed to allow International Atomic Energy Agency (IAEA) inspectors back into the country. Washington also issued a temporary 60-day license that allows Iranian oil and petrochemical sales through August 21.

The talks included discussion of a Lebanon “deconfliction cell” aimed at preventing renewed escalation between Israel and Hezbollah. Israel was absent. Iran was present.

That fact should trouble every Israeli. Diplomacy with Iran can be useful when it weakens the regime, freezes a threat, or buys time under conditions that favor the West. The Switzerland talks risk giving Tehran time, money, legitimacy, and a role in managing the fires it helped set.

Over the past 24 hours, criticism has focused on one concern: Tehran appears to have gained a road map without publicly accepting the hard conditions that would make it meaningful. It appears to have secured breathing room on sanctions while its proxies remain armed. It appears to have turned the Strait of Hormuz into a bargaining chip and Lebanon into part of a broader US-Iran understanding.

Iran should not be rewarded for threatening global shipping. It should not receive economic relief after using regional chaos to force the world back to the table. It should not gain influence over arrangements involving Lebanon while Hezbollah remains its most important Arab proxy and the direct threat facing Israel’s border communities.

A Lebanon deconfliction mechanism may sound technical. In reality, it could become a diplomatic trap. Israel cannot allow its freedom of action against Hezbollah to be filtered through a process shaped by Iran. The residents of Metula, Kiryat Shmona, Moshav Margaliot, Kibbutz Manara, and other northern communities do not need another committee. They need Hezbollah pushed back, disarmed, and deterred.

Iran preserving pattern to maintain nuclear program

The same applies to the nuclear file. Vance said Iran had agreed to inspections. Tehran’s own messaging has been far less reassuring. If Iran’s return to cooperation with the IAEA depends on internal decisions, political timing, or future approvals, then this is a promise waiting to be diluted.

Israel has seen this pattern before. Iran agrees to language. The West celebrates movement. Inspectors receive partial access, delayed access, or access under dispute. Tehran keeps the core of the program alive, argues over definitions, and uses every month gained to improve its position.

The oil license is also a problem. The Trump administration may argue that the waiver is temporary, narrow, and tied to negotiations. Tehran will read it as pressure working. Hezbollah will read it as proof that its patron survived. Hamas and Palestinian Islamic Jihad will understand that Iran can absorb military blows and still receive economic oxygen.

Money given to the Iranian regime cannot be cleanly separated from its security priorities. Even when funds are formally directed toward civilian needs, they ease pressure elsewhere. A regime that spends billions on missiles, drones, militias, and terrorist networks should not be trusted to compartmentalize relief.

Israel, US want to prevent wider war

The White House may believe it is preventing a wider war. That goal is legitimate. Israel also wants to avoid wider war. Israeli families have no desire to send more sons and daughters into Lebanon, Gaza, Syria, Yemen, or Iran.

Avoiding war requires strength, clarity, and consequences. Iran must understand that escalation will cost it more than restraint. The emerging message from Switzerland is muddier: Threaten Hormuz, survive the fighting, keep Hezbollah intact, and Washington will search for a formula.

That formula cannot become policy. A serious agreement with Iran must include intrusive inspections, immediate penalties for violations, restrictions on missile and drone capabilities, limits on proxy financing, and a clear understanding that Israel retains the right to defend itself. Anything less will leave Iran stronger than it should be and Israel more exposed than it can accept.

The talks in Switzerland may have calmed markets and lowered the volume for a day. They have not answered the question that matters: Is Iran being forced to retreat or merely being paid to pause?

For Israel, that distinction is measured in missiles, border towns, and lives.

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UK Prime Minister Keir Starmer, who resigned the premiership on Monday, leaves behind a mixed record on fighting antisemitism in the Labour Party that Jewish organizations say will help shape their expectations for his successor.

Starmer announced that he was stepping down outside 10 Downing Street on Monday morning. He made the decision in the wake of mounting pressure from Labour members of Parliament and waning political support after the party’s devastating losses in the May 7 local elections and the success of political rival Andy Burnham in Manchester’s parliamentary election last week. 

Burnham, the former mayor of Greater Manchester, has emerged as the leading contender after winning a Manchester-area by-election on Friday with 55% of the vote. Burnham has sought to position himself prominently on antisemitism and relations with the Jewish community in his bid to take over from Starmer.

In a post on X/Twitter, Burnham thanked Starmer for his leadership and said the PM’s decision to resign “marks the beginning of a transition and it is important that this process is conducted in an orderly and responsible way. I will put myself forward as part of this process.”

Starmer to remain in role until successor is chosen

Starmer confirmed he would remain on as caretaker prime minister until a successor was chosen.

“The question my party is asking now is whether I am best placed to lead us into the next general election,” he said. “I have heard the answer of my parliamentary party to that question, and I accept that answer with good grace.” 

The Jewish Labour Movement thanked Starmer in a post on X/Twitter, noting that two years ago he inherited the party “at its lowest point” from former party leader Jeremy Corbyn, when it was “institutionally antisemitic.” It added, under Starmer, “our party has a clean bill of health on antisemitism.”

However, Starmer’s tenure was still met with plenty of criticism from the Jewish community over his handling of antisemitism, particularly in light of ongoing antisemitic attacks in the country. In recent months alone, four Hatzola ambulances were lit on fire; there were attempted attacks on three synagogues; two Jewish men in the Orthodox neighborhood of Golders Green were stabbed. Dozens of people have been arrested in connection with the incidents.

Starmer entered office in July 2024, leading his country’s thorny relationship with Israel in the aftermath of the Hamas October 7, 2023, attack against the Jewish and the Gaza war that followed. He angered Israel with steps such as recognizing Palestine as a state and promising to uphold the International Court of Justice’s arrest warrant against Prime Minister Benjamin Netanyahu for war crimes.

With Starmer’s upcoming departure, focus has shifted to the contest to replace him, bringing renewed scrutiny to candidates’ positions on antisemitism, relations with the Jewish community, and Israel.

Starmer said he would give his successor his “full and unequivocal support,” adding that nominations would open on July 9 and conclude before the parliamentary summer recess on July 16.

Board of Deputies of British Jews President Phil Roseneberg posted on X/Twitter, “When he took on the leadership of the Labour Party, the first thing @Keir_Starmer said he would do is ‘tear out the poison of antisemitism by its roots’. His subsequent actions were transformative within the Party.”

He praised Starmer’s government for providing “unprecedented security funding,” and introducing legislation to proscribe the IRGC.

Burnham spoke out against antisemitism, but scrutinized for stance on Israel

Burnham, for his part, has spoken out against antisemitism in the wake of violent attacks. Following the October 2025 Yom Kippur attack at the Heaton Park Congregation synagogue in Manchester, in which two people were killed, Burnham said in an official release, “Tonight, our first thoughts are with the families of those who have died, those injured and those traumatised by this – a horrific antisemitic attack on our Jewish friends and neighbours. We condemn it outright.”

He also wrote in a post on X/Twitter on the same day, “Today we have witnessed a vile attack on our Jewish community on its holiest day. We condemn whoever is responsible and will do everything within our power to keep people safe.”

His positions on Israel and Gaza have also come under scrutiny. In a June 4 interview with The Guardian, Burnham did not invoke the term “genocide” in relation to the war in Gaza, but did say, “I can’t judge things of that enormity from where I am as mayor of Greater Manchester.” 

He added, “But I do have concerns about the disproportionate nature of what has happened in terms of the destruction, and there has to be a full process of investigation and accountability.”

Additionally, 10 days after the October 7 attacks, Burnham called for a ceasefire in a joint statement with 10 Greater Manchester leaders. The statement read in part, “We condemn unreservedly the appalling terror attacks on innocent civilians in Israel by Hamas on 7th October.” 

The statement also noted that Israel has the right to take “targeted action within international law” to defend itself and to rescue its hostages, but added, “We also have profound concerns about the loss of thousands of innocent lives in Gaza, the displacement of many more and widespread suffering through the ongoing blockade of essential goods and services.”

Referencing his expected leadership bid, Culture Secretary Lisa Nandy told the Jewish News on June 17 that Burnham had a few weeks earlier met with Jewish communal leaders in Greater Manchester.

When it comes to Israel, Nandy said Burnham “believes in justice, so he’s acutely aware of the need for a safe homeland for Jewish people, you know, and the particularly unique historical reasons why Israel came into existence.”

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The American job market showed surprising resilience this spring. According to the U.S. Bureau of Labor Statistics, whose Job Openings and Labor Turnover Survey for April was released Tuesday, June 2, the number of open positions rose to 7.6 million — a jump of 731,000 from March and the highest level in nearly two years, since May 2024. The figure blew past the 6.8 million that economists surveyed by Dow Jones had expected, pushing the number of available jobs back above the total of unemployed workers.

The internals were more mixed than the headline suggests. Hiring actually slowed, with companies bringing on 5.12 million workers, down 419,000 from March, while total separations eased to 5.0 million. Within that, quits held about steady at 3.0 million and the quits rate slipped to 1.9%, its lowest in years — a sign that fewer workers feel confident enough to leave a job voluntarily. Layoffs and discharges stayed contained at 1.7 million, a rate of 1.1%, with retail trade actually shedding fewer jobs than the month before.

The surge in openings was narrow. Nearly all of it came from one category: professional and business services, which added 668,000 postings. Some economists read that as evidence pushing back on fears that artificial intelligence is gutting white-collar demand. Health care and social assistance added about 89,000 openings. Financial activities went the other way, with openings falling 134,000, and most other industries changed little.

Beneath the numbers is a split between big and small employers. According to Indeed’s Hiring Lab, openings at the very largest establishments — those with 5,000 or more workers — stood about 81% above their pre-pandemic level, by far the strongest of any group. But those giants account for less than 5% of all openings. The roughly 90% of postings tied to employers with fewer than 1,000 workers have been comparatively flat since mid-2024, meaning the typical small business is holding steady rather than booming.

Economists described a “low-hire, low-fire” market that is stable for now but vulnerable. “For now, the labor market remains mostly stable,” said Matthew Martin, senior U.S. economist at Oxford Economics, who warned that the Iran war could test hiring as household spending and uncertainty weigh on firms. Noah Yosif, chief economist at the American Staffing Association, cautioned that one report does not make a trend.

The data matters for businesses because a steady job market underpins consumer spending, which drives most of the U.S. economy, and for the Federal Reserve, which watches JOLTS for signs of slack. Under new Chair Kevin Warsh, the Fed has shifted its worry from labor weakness to inflation driven by tariffs and soaring energy costs, and is widely expected to hold rates steady. The next read arrives soon: the BLS is scheduled to release the May JOLTS figures on June 30, which will show whether April’s rebound in demand held up.

JBizNews Desk
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Gov. Kathy Hochul announced Monday the formation of a state committee to explore the possibility of a bid by Lake Placid and New York City to co-host a future Winter Olympics. The Lake Placid-New York City Olympic and Paralympic Winter Games Exploratory Committee would evaluate the feasibility of a 2042 Winter Games concept–similar to this year’s Olympics in Milan and Cortina–that made use of Lake Placid’s Olympic legacy and New York City’s global platform, according to the governor.

“The time is now to return the Olympic flame back to New York. Milano Cortina showcased the immense possibility that comes with a dual city Olympic Games,” Hochul said. “It’s clear we have a once-in-a-generation opportunity to build on Lake Placid’s Olympic legacy, New York City’s global platform, and the strengths that make our State unique.”

France will host the event in 2030, Salt Lake City in 2034, and Switzerland is in discussion with the International Olympic Committee for 2038. The Winter Olympics have not been hosted by New York since 1980. That year saw the U.S. men’s hockey team defeat the Soviet Union in the well-remembered “Miracle on Ice.”

According to the New York Times, the dual-hosting idea was inspired by the recent Winter Olympics hosted jointly by Milan and Cortina in Italy. The two cities’ distance from one another (about the same as that of New York City and Lake Placid) did nothing to diminish the success of the event.

In a statement to the Times, Hochul said: “What other part of the world can offer this opportunity to provide what New York City has but also the most beautiful place in the world, with the Adirondack (mountains)?”

Assembly Member Robert Carroll, who has lobbied for a shared Winter Olympics in NYC and Lake Placid for years, will be a member of the Exploratory Committee Leadership Group.

In an op-ed in the Daily News in December, Carroll and former Assembly Member Billy Jones explained that the Olympics could “accelerate long-overdue investment” in the state’s rail corridors and would be an overall “great opportunity.”

“I’m honored to serve on the leadership team evaluating this once-in-a-generation opportunity for New York State,” Carroll said.

“This exploratory effort is an important first step in understanding what a future Winter Olympic bid could mean for our economy, infrastructure, tourism industry, and New York’s place on the world stage. I’ve long believed New York City and Lake Placid can tell a uniquely New York story, one of urban and rural communities coming together behind a shared vision.”

NYC sought to host the 2012 Summer Olympics, but ultimately lost the bid to London. The proposed Olympic stadium would have been built on the West Side of Manhattan.

As 6sqft previously reported, NYC’s proposed 2012 Olympic Village would have transformed the Queens waterfront and Manhattan’s West Side. According to the Bloomberg administration, the event would have created 125,000 jobs and added $11 billion to the city’s economy.

The yearlong exploratory process will include focused workstreams, stakeholder engagement, and public input.

The committee will then submit its findings and recommendations to state leadership for review. The Exploratory Committee effort will be led by a Leadership Group chaired by Ashley Walden, President and CEO of the Olympic Regional Development Authority, along with leaders from state and local government, economic development, and public service.

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Just ten days after the largest stock-market debut in history, SpaceX is already back for more money. On Monday, June 22, the rocket and satellite company — formally Space Exploration Technologies Corp., trading on the Nasdaq under ticker SPCX — said in a securities filing that it had begun its first-ever bond sale, an offering of senior unsecured notes aimed at raising at least $20 billion. The same filing disclosed a striking figure: roughly $100.8 billion in cash on hand as of June 19, a war chest that now reads more like a sovereign wealth fund’s than a young public company’s. Shares fell for a third straight session on the news.

The purpose is housekeeping more than fresh borrowing. SpaceX said it will use the proceeds to repay, in full, a $20 billion bridge loan it took on in March after merging with Elon Musk’s artificial-intelligence startup xAI, plus related fees, with anything left over going to general corporate needs. That bridge financing had replaced about $17.5 billion in higher-interest debt xAI carried before the deal and was not due until September 2027. By swapping short-term financing for longer-dated bonds, the company locks in funding at steadier rates well ahead of the deadline.

The notes will carry maturities ranging from five to 30 years and were rated investment grade by all three major agencies last week — Baa1 from Moody’s, BBB+ from Fitch, and BBB from S&P Global. The same banks that provided the bridge loan, Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase and Morgan Stanley, are running the bond deal. The notes are being sold to large institutional buyers rather than the general public. SpaceX carries about $29.1 billion in long-term debt against its cash pile, leaving it with a net cash position of roughly $71.7 billion.

Investors did not cheer. SPCX shares dropped about 16% on Monday to around $165, the third straight decline and a roughly 27% retreat from the $225.64 intraday peak hit on June 16. The stock still trades well above its $135 IPO price, and the company’s market value, near $2.16 trillion, remains above the $1.77 trillion that debut implied. But the speed of the new fundraising — barely a week after the company raised about $86 billion in its record IPO — unsettled some buyers, who read it as a sign of heavy spending ahead.

That spending is the real story. SpaceX is racing to turn itself from a launch company into an AI infrastructure giant. On Monday, the company signed a deal worth up to $6.3 billion to supply computing power to open-source AI startup Reflection AI, which will pay $150 million a month from July through the end of 2029 for capacity at SpaceX’s Colossus data-center operation, built around Nvidia chips. SpaceX has struck similar compute agreements with Google and Anthropic valued at roughly $75 billion combined, and has floated the idea of one day building data centers in space.

The scale of the ambition is enormous, and so is the bill. Analysts have estimated SpaceX’s cumulative capital spending could top $1 trillion by 2031 as it scales its Starship rocket and deploys next-generation Starlink satellites. That is the tension bond buyers must weigh: long-term contracts like the Reflection deal make revenue more predictable, which supports cheaper borrowing, but the AI buildout also demands relentless investment in chips, power and facilities that can strain cash flow. Notably, either side can walk away from the Reflection contract after the first three months with 90 days’ notice.

Control of the company stays firmly with its founder. Musk holds about 82% of SpaceX’s voting power through a dual-class share structure, and the IPO already made him the world’s first trillionaire on paper. Market strategist Adam Sarhan noted that issuing bonds lets SpaceX raise money without selling new stock, keeping existing shareholders’ economic stake intact while Musk’s grip on the company remains untouched.

For now, the bond sale forces public investors to decide what kind of business they actually own. Bought as a rocket-and-satellite maker, a $20 billion debt raise so soon after going public looks aggressive. Viewed as an AI infrastructure company with its own launch system and global broadband network, it looks like an opening move. SpaceX reports its first results as a public company in early August, and a share lockup expires in December — two dates that will test whether the market’s early enthusiasm can outlast the spending it is now being asked to fund.

JBizNews Desk
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Hapoel Tel Aviv defeated Maccabi Tel Aviv 80-74 as Vasilije Micic starred in the Game 3 win to cut the yellow-and-blue best-of-five finals series lead to 2-1, with Game 4 slated for Tuesday night back at Yad Eliyahu.

Tomer Ginat and Yam Madar paced Hapoel early on while Jaylen Hoard countered for Maccabi, but Micic scored points aplenty and orchestrated the offense to perfection while the Reds’ defense helped Dimitrios Itoudis’s team to a 43-36 advantage at halftime.

Micic continued to control the attack in the second half, while Jimmy Clark countered to cut the gap for Maccabi, but Micic kept hitting his shots to will the Reds to the victory.

Micic scored 29 points and added 10 assists, while Ish Wainright and Tai Odiase each scored 12 points in the win. Clark scored 24 points, Iffe Lundberg put in 15 points, and Hoard scored 12 points in the loss.

Itoudis reflected on Hapoel’s win.

“But this is a series, and we now have to respond,” Maccabi coach Oded Katash said about the loss

“We came into the game with a lot of motivation from our fans, and we expect them to come into Game 4 very hungry as well. Keeping Maccabi at 74 points shows how much we made in terms of defensive adjustments. We had to make sure to stay composed, and we built up our trust. It was a good win, but we are still down a game in this series. The tank is full, and we want to keep playing basketball. It was really helpful that we had an extra day, and it allowed us to make adjustments.”

Maccabi coach Oded Katash spoke about the loss.

“We wanted to win this game a lot, and I can’t say anything against the effort the guys put in. We didn’t execute well offensively, and we didn’t think this was going to be easy. We knew who we were playing; we are also aware that we have a short rotation, and because of that, we had to make more substitutions as they were tiring. However, despite that, we still led near the end, but this is a series, and we now have to respond. It won’t be easy, but we will need to come up with the energy.”

Micic, the game’s MVP, commented as well.

“We knew we had to give everything, and that’s what we did. It was a good performance by us. I tried to do my best, and I think we had good momentum. We made good decisions, and that was the difference from the previous games in the series. I’m trying to lead the team. Everyone gave everything they had, Tomer Ginat, Yam Madar, everyone contributed, and it’s very important that everyone contributed and made an impact.”
Maccabi’s Oshae Brissett talked about the loss.

“We said right now that it’s not the time to be tired. We get paid to play, and we are professionals. They have one day off like us, and it won’t be an excuse; we will play much better on Tuesday. We had some mental lapses, and there are some things that we can fix. We know we should have closed it out, but we have to make the adjustments. I want to win really bad and I know how much the fans want us to win. But we too – I love to win, and winning the championship is what I’m focused on for next game.”

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

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Hapoel Tel Aviv defeated Maccabi Tel Aviv 80-74 as Vasilije Micic starred in the Game 3 win to cut the yellow-and-blue best-of-five finals series lead to 2-1, with Game 4 slated for Tuesday night back at Yad Eliyahu.

Tomer Ginat and Yam Madar paced Hapoel early on while Jaylen Hoard countered for Maccabi, but Micic scored points aplenty and orchestrated the offense to perfection while the Reds’ defense helped Dimitrios Itoudis’s team to a 43-36 advantage at halftime.

Micic continued to control the attack in the second half, while Jimmy Clark countered to cut the gap for Maccabi, but Micic kept hitting his shots to will the Reds to the victory.

Micic scored 29 points and added 10 assists, while Ish Wainright and Tai Odiase each scored 12 points in the win. Clark scored 24 points, Iffe Lundberg put in 15 points, and Hoard scored 12 points in the loss.

Itoudis reflected on Hapoel’s win.

“But this is a series, and we now have to respond,” Maccabi coach Oded Katash said about the loss

“We came into the game with a lot of motivation from our fans, and we expect them to come into Game 4 very hungry as well. Keeping Maccabi at 74 points shows how much we made in terms of defensive adjustments. We had to make sure to stay composed, and we built up our trust. It was a good win, but we are still down a game in this series. The tank is full, and we want to keep playing basketball. It was really helpful that we had an extra day, and it allowed us to make adjustments.”

Maccabi coach Oded Katash spoke about the loss.

“We wanted to win this game a lot, and I can’t say anything against the effort the guys put in. We didn’t execute well offensively, and we didn’t think this was going to be easy. We knew who we were playing; we are also aware that we have a short rotation, and because of that, we had to make more substitutions as they were tiring. However, despite that, we still led near the end, but this is a series, and we now have to respond. It won’t be easy, but we will need to come up with the energy.”

Micic, the game’s MVP, commented as well.

“We knew we had to give everything, and that’s what we did. It was a good performance by us. I tried to do my best, and I think we had good momentum. We made good decisions, and that was the difference from the previous games in the series. I’m trying to lead the team. Everyone gave everything they had, Tomer Ginat, Yam Madar, everyone contributed, and it’s very important that everyone contributed and made an impact.”
Maccabi’s Oshae Brissett talked about the loss.

“We said right now that it’s not the time to be tired. We get paid to play, and we are professionals. They have one day off like us, and it won’t be an excuse; we will play much better on Tuesday. We had some mental lapses, and there are some things that we can fix. We know we should have closed it out, but we have to make the adjustments. I want to win really bad and I know how much the fans want us to win. But we too – I love to win, and winning the championship is what I’m focused on for next game.”

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

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Senior leaders of Hamas‘ political bureau held a highly confidential meeting with a French delegation, according to a Monday report from Saudi newspaper Asharq Al-Awsat.

It reported that the meeting took place “recently” in an unspecified country in the Middle East. 

Two Palestinian sources spoke to Asharq Al-Awsat, one from Palestinian civil society elements who maintain working relations with France and other European countries, and the other from a Palestinian organization close to Hamas. They described the meeting as “top secret,” adding that some Palestinian factions were only informed shortly before or after it was held.

This marks the first reported meeting of Hamas leaders with European officials since the October 7 massacre.

According to the report, the French delegation included current and former diplomats, as well as members of parliament from the ruling coalition and opposition parties. 

Focus on Palestinian Internal affairs

A source from Palestinian civil society said the talks were largely focused on Palestinian internal affairs, improving national reconciliation, and advancing a political process aimed at ending the conflict with Israel.

The source also told Asharq Al-Awsat that discussions also touched on supporting establishing a Palestinian state within “the 1967 borders,” meaning the pre-Six-Day War armistice lines.

Since October 7, France has been a leading advocate for a two-state solution that would allow for the establishment of a Palestinian state alongside the State of Israel.

Israel-France relations are strained

The reported meeting comes a few weeks after the French National Anti-Terrorism Prosecutor’s Office (PNAT) announced in Paris that it had opened a preliminary investigation against Israel.

The probe followed allegations by Global Sumud Flotilla activists of “torture and war crimes” against them.

The investigation was initiated following a formal referral submitted to the prosecutor’s office by French Foreign Minister Jean-Noël Barrot. The move was prompted by a video published by National Security Minister Itamar Ben-Gvir showing the activists being brought to Ashdod Port.

According to an AFP report cited by French media, the preliminary investigation will be conducted by the Central Office for Combating Crimes against Humanity and Hate Crimes (OCLCH).

In September 2025, France recognized a Palestinian state at a world summit in New York, a move that Prime Minister Benjamin Netanyahu said was “fueling antisemitism.”

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Canadian Prime Minister Mark Carney stated that he was “horrified” to learn of a shooting attack in a heavily Jewish neighborhood in Montreal, Quebec, on Monday in which at least two people, including a police officer, were killed.

“My thoughts are with the victims, their loved ones, the first responders, and the entire community of Côte‑des‑Neiges,” Carney said in a post on X/Twitter.

Quebec Province Premier Christine Fréchette similarly shared that she was “deeply shaken” by the attack and that the government of Quebec “is offering its full cooperation to the authorities involved and will remain present to support the victims, their loved ones, and the community.”

Fréchette condemned the attack as an act that has “no place” in Canadian society.

“I would like to thank the police officers, first responders, and all those working on the ground,” she stated, adding that an investigation into the incident is still ongoing.

In a press briefing later on Monday, Fréchette announced that the Quebec flag will be flown at half-mast in the aftermath of the shooting. She also stated that the province will dispatch psychological support teams to any individual affected by the attack who needs them.

Minister of Diaspora Affairs decries rise in antisemitic violence in Canada

Minister of Diaspora Affairs Amichai Chikli stated in a post on X/Twitter that he is closely monitoring the situation and that his ministry is in ongoing contact with community leaders and relevant authorities in Montreal.

“The Ministry of Diaspora Affairs and Combating Antisemitism stands ready to assist, support, and stand alongside the community during this difficult time,” he continued.

While the motivation behind the attack has not yet been confirmed by Canadian authorities, Chikli decried the rise in antisemitic violence against Canada’s Jewish communities over the past two years.

“As we have warned time and again, it is only a matter of time before there will be loss of innocent lives,” Chikli stated, urging local authorities to “stop with the condemnations and committees, and start with the action.”

Israel’s consulate in Montreal also extended its thoughts and prayers to all impacted by the shooting in a post on X/Twitter. 

“We offer our most sincere condolences to the victims, their families, and all those affected by this tragedy,” the consulate said in a statement released on social media.

The consulate also expressed appreciation for the swift responses of Montreal Police (SPVM) and local law enforcement agencies.

This post was originally published on here

Canadian Prime Minister Mark Carney stated that he was “horrified” to learn of a shooting attack in a heavily Jewish neighborhood in Montreal, Quebec, on Monday in which at least two people, including a police officer, were killed.

“My thoughts are with the victims, their loved ones, the first responders, and the entire community of Côte‑des‑Neiges,” Carney said in a post on X/Twitter.

Quebec Province Premier Christine Fréchette similarly shared that she was “deeply shaken” by the attack and that the government of Quebec “is offering its full cooperation to the authorities involved and will remain present to support the victims, their loved ones, and the community.”

Fréchette condemned the attack as an act that has “no place” in Canadian society.

“I would like to thank the police officers, first responders, and all those working on the ground,” she stated, adding that an investigation into the incident is still ongoing.

In a press briefing later on Monday, Fréchette announced that the Quebec flag will be flown at half-mast in the aftermath of the shooting. She also stated that the province will dispatch psychological support teams to any individual affected by the attack who needs them.

Minister of Diaspora Affairs decries rise in antisemitic violence in Canada

Minister of Diaspora Affairs Amichai Chikli stated in a post on X/Twitter that he is closely monitoring the situation and that his ministry is in ongoing contact with community leaders and relevant authorities in Montreal.

“The Ministry of Diaspora Affairs and Combating Antisemitism stands ready to assist, support, and stand alongside the community during this difficult time,” he continued.

While the motivation behind the attack has not yet been confirmed by Canadian authorities, Chikli decried the rise in antisemitic violence against Canada’s Jewish communities over the past two years.

“As we have warned time and again, it is only a matter of time before there will be loss of innocent lives,” Chikli stated, urging local authorities to “stop with the condemnations and committees, and start with the action.”

Israel’s consulate in Montreal also extended its thoughts and prayers to all impacted by the shooting in a post on X/Twitter. 

“We offer our most sincere condolences to the victims, their families, and all those affected by this tragedy,” the consulate said in a statement released on social media.

The consulate also expressed appreciation for the swift responses of Montreal Police (SPVM) and local law enforcement agencies.

This post was originally published on here

US President Donald Trump said he will do what he has to if Iran does not stick to its agreement with Washington on Monday. 

“If Iran doesn’t live up to their agreement, or if they’re not behaving, I will do what I have to do,” Trump told reporters.

Trump said Iran was supposed to use the unfrozen funds to buy food exclusively from the United States, while Iran’s semi-official Tasnim news agency cited Iranian central bank governor Abdolnaser Hemmati as saying that Tehran is under no obligation to purchase agricultural inputs from the US under the current memorandum of understanding.

“All that money’s coming back in the form of purchases of food which they desperately need. They have 91 million people; they can’t feed them. So, the money that we lift is going to go to our farmers,” Trump asserted.

Hemmati said the remaining frozen funds will not necessarily be used solely for essential goods and could be sent to purchase other non-sanctioned goods, Tasnim reported.

Trump calls himself ‘problem solver’ in regards to Netanyahu statement

Trump also addressed Prime Minister Benjamin Netanyahu‘s statement regarding the IDF remaining in Lebanon, saying the US would “take a look at it.”

When asked how he would ensure Netanyahu would not sabotage the deal, Trump said: “I’m not going to tell you what I’m going to do, but it’s solved.”

“I’m a problem solver. I get problems solved real fast, including with Bibi,” Trump added. 

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U.S. stocks finished split on Monday, June 22, as a heavy sell-off in the year’s biggest technology winners pulled the broad market down even as industrial and financial shares climbed. The drop came despite easing war risk: Iran said Monday there had been “encouraging progress” in talks with the United States in Switzerland, and Vice President JD Vance said Tehran had agreed to allow nuclear inspections under a roadmap toward a deal within 60 days. With the geopolitical fear fading, investors rotated hard out of crowded AI names and into cheaper corners of the market.

The Dow Jones Industrial Average rose 148.01 points, or 0.29%, to 51,712.71, while the S&P 500 slipped 0.37% to 7,472.79 and the Nasdaq Composite fell 1.32%, or 351 points, to 26,166.60. The Russell 2000 of smaller companies bucked the trend, adding 0.83% to 3,004.40. The Dow’s advance rested almost entirely on one stock: Caterpillar jumped nearly 4% and, by midday, accounted for more index points than the Dow’s entire gain.

Market movers

The selling hit the megacaps hardest. Alphabet sank about 5% on reports of AI talent leaving the company and news that France’s intelligence service plans to drop a U.S. AI tool to avoid “strategic dependency.” Amazon lost roughly 4.8%, Microsoft fell 3%, Meta Platforms slid more than 2%, and Nvidia retreated as investors questioned the soaring cost of the AI build-out. SpaceX, ticker SPCX, tumbled 16.4% for a third straight losing session after announcing a new bond sale, though it remains well above its June 12 IPO price.

Money moved toward memory and banks instead. Micron Technology rose about 5% to a fresh high ahead of Wednesday’s earnings, and Sandisk added 5% as the memory rally rolled on. Bank of America and JPMorgan each gained around 2%. Wedbush Securities analyst Matt Bryson carries an Outperform rating and a $1,300 price target on Micron, raised from $550 on June 18, citing memory pricing running ahead of the company’s own forecasts.

Healthcare also generated one of the day’s biggest winners. AbbVie rose about 1% after agreeing to acquire Apogee Therapeutics in a $10.9 billion cash deal. Apogee shares surged nearly 47% on the announcement as investors priced in the takeover premium.

Global impact

The market moves rippled across the globe. European shares rose as easing Middle East tensions reduced energy-supply concerns, while Asian markets were mixed as investors weighed the prospect of renewed Iranian oil exports against the possibility of higher U.S. interest rates. A successful U.S.-Iran agreement could reshape global energy flows, lower transportation costs and ease inflation pressures in major importing economies including Europe, Japan and India.

The pan-European Stoxx 600 closed up 0.58%, Britain’s FTSE 100 gained 0.72%, and Germany’s DAX rose 0.62%. The day’s biggest surprise was political: U.K. Prime Minister Keir Starmer announced his resignation, clearing the way for Britain’s seventh leader in a decade. London markets took it in stride, with NatWest, Barclays and Lloyds Banking Group each up nearly 4%, the pound steady near $1.324, and government bonds firmer. Former Manchester mayor Andy Burnham is the early favorite to succeed him.

A more hawkish Federal Reserve also continues to pressure emerging markets by supporting a stronger dollar and raising borrowing costs worldwide. Investors from Seoul to São Paulo are now watching the same forces driving Wall Street: inflation, interest rates, energy prices and the future pace of AI-driven growth.

Commodities and volatility

Oil stayed soft on hopes that a deal would restore Gulf supply. West Texas Intermediate crude settled near $74.29 a barrel and global benchmark Brent eased about 1.8% to roughly $79, far below its May wartime peak above $126. Gold edged up 0.1% to about $4,207 an ounce as some investors kept a hedge in place, and Bitcoin traded near $63,900. The CBOE Volatility Index, Wall Street’s fear gauge, rose nearly 3% to 17.28. Treasury yields kept climbing after last week’s hawkish Federal Reserve turn, with the 2-year note at 4.04%, its highest since February 2025, and the 10-year at 4.50%.

The next few sessions will decide whether Monday’s tech stumble was a pause or the start of something larger. On Tuesday, S&P Global releases its June flash purchasing managers’ surveys, while earnings arrive from FedEx, Carnival and Cerebras Systems. Analysts expect FedEx to report revenue near $24 billion, up about 8% from a year earlier, in its first full quarter following a major spin-off.

Wednesday brings May new home sales and the report many investors are waiting for: Micron reports after the close. Wall Street is looking for earnings of roughly $20.05 per share and revenue around $35 billion, a jump of about 276% from a year earlier as AI demand continues draining memory supply. The shortage has left rivals Samsung and SK Hynix chasing the same rapidly tightening market.

Thursday is the macro centerpiece. The government releases the PCE Price Index, the Federal Reserve’s preferred inflation gauge, along with May personal income and spending data, May durable goods orders, and a final reading on first-quarter GDP. The University of Michigan’s revised consumer sentiment survey closes the week on Friday.

Hanging over all of it is the new policy stance under Fed Chair Kevin Warsh. Economists at Deutsche Bank now pencil in two rate increases this year, while Bank of America sees three, a sharp reversal from earlier expectations for little or no movement. Markets are currently pricing roughly a 75% chance of a rate hike as soon as September.

For now, investors are balancing a calmer Middle East against a hawkish Federal Reserve and a wobble in the AI giants that have carried the market higher all year. Tuesday’s economic data and the first wave of earnings reports will help determine whether Monday’s technology sell-off was simply profit-taking or the beginning of a broader shift in market leadership.

JBizNews Desk
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The Trump administration released a memo last week that seeks to upend landmark disability laws and court rulings that prioritize people with disabilities receiving care while living in their community instead of at institutions like nursing homes.

The memo — written by the Department of Justice Office of Legal Counsel in response to an inquiry from White House officials — breaks with decades of disability law and practice and argues that the “integration mandate” is not actually a mandate, especially for people with “severe mental illness or disabilities.”

Read the rest…

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Pfizer said Monday that an experimental drug it hoped could replace a widely used chemotherapy in one of the most common forms of lung cancer fell short in a clinical trial.

Expectations had been high that the drug, sigvotatug vedotin, could replace docetaxel, a chemotherapy initially approved in 1996. Last year Pfizer’s CEO, Albert Bourla, said on an earnings call the drug “could be a driver of growth later this decade.” In a note to investors in May, Leerink analyst David Risinger called the upcoming data readout a “major oncology catalyst” and said he had spoken to a doctor who was “optimistic” about its potential.

Pfizer acquired sigvotatug vedotin when it bought the biotechnology firm Seagen for $43 billion in 2023.

Continue to STAT+ to read the full story…

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Coca-Cola and the IRS are heading to court with $20 billion on the line amid a years-long dispute over the beverage company’s reporting of profits made in the U.S. and overseas.

The soda giant is taking its case to a federal appeals court in Miami as it looks to resolve a tax liability stemming from how Coca-Cola and its foreign subsidiaries disclosed profits from 2007 to 2009 using an accounting practice known as transfer pricing.

The case centers on an agreement between the company and the IRS from 1996 about how the company would report foreign profits, as Coca-Cola’s U.S. corporation licenses its intellectual property – ranging from recipes, brand names and trademarks – to foreign subsidiaries that manufacture concentrates used to make its beverages for foreign markets.

Coca-Cola argues that it structured its operations to comply with the 1996 agreement using a “10-50-50” method that lets foreign suppliers keep 10% of the gross sales, with the U.S. parent company and foreign subsidiary splitting the remaining profits.

COCA-COLA SHUTTING DOWN CALIFORNIA FACILITY AFTER MORE THAN A CENTURY

“Far from seeking to evade its tax obligations, Coca-Cola carefully structured its operations to adhere to a method that the IRS had repeatedly blessed,” the company said in a court filing, per The Wall Street Journal.

The outlet reported that the IRS counters that the 1996 agreement was retroactive to 1987 but didn’t apply to future years, and that it only offered protection from penalties for the use of the 10-50-50 method as opposed to immunity. 

The IRS said in its own filing that the “combination of two non-promises does not add up to a promise, as Coca-Cola wishes.”

COCA-COLA’S YELLOW CAPS ARE BACK – WHAT THEY MEAN AND WHY THEY’RE COMPARED TO MEXICAN COKE

While the company’s tax filings from 2007 to 2009 were the focus of the IRS’ initial case, Coca-Cola has continued to use the accounting method as the legal dispute has played out.

The IRS prevailed over Coca-Cola in a Tax Court ruling in 2020, which resulted in the company paying $6 billion in taxes and interest as the judge ruled the parent company’s deals with foreign subsidiaries were structured improperly to keep profits overseas in lower tax jurisdictions.

COCA-COLA OFFICIALLY ROLLS OUT CANE SUGAR SODA ACROSS US MARKETS FOLLOWING TRUMP’S URGING: REPORT

That money could go back to Coca-Cola with interest if the company prevails with its appeal, though it could face an even larger tax bill if it’s defeated in court due to the ongoing use of the tool.

Coca-Cola would owe an estimated $14 billion in taxes and interest for the 2010 through 2025 tax years, bringing the total to $20 billion if it loses its appeal against the IRS.

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The Journal noted that the potential $14 billion liability could cause Coca-Cola to borrow to pay the IRS, as the amount exceeds the cash it has on hand – though analysts have said the company is emphasizing it has the needed liquidity to cover the bill and maintain its dividend for investors.

FOX Business reached out to Coca-Cola and the IRS for comment.

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More than 11,000 bottles of blood pressure medication are being recalled nationwide due to a manufacturing defect, according to the Food and Drug Administration.

The 11,460 bottles of chlorthalidone tablets, USP, 25 mg, are being recalled because of “failed dissolution specifications.” 

Dissolution tests measure the release rate of a drug and its active ingredient from the tablet or capsule used as a dosage when it’s placed into a liquid to assess the performance and quality of various drug formulations and batches, according to pharmaceutical company Pion.

The recalled drugs were manufactured by Inventia Healthcare Limited of India – which initiated the voluntary recall – and distributed in the U.S. by Rising Pharma Holdings of East Brunswick, New Jersey.

500K PACKAGES OF MACARONI AND CHEESE SOLD AT ALDI RECALLED OVER UNDECLARED SOY LECITHIN

FOX Business reached out to Inventia Healthcare and Rising Pharma for comment.

The Cleveland Clinic said that chlorthalidone is used to treat high blood pressure by helping kidneys remove fluid and salt from a user’s blood through their urine.

It’s considered a diuretic drug and may also be used to reduce swelling related to heart, kidney or liver disease.

DEADLY LISTERIA OUTBREAK SPARKS EXPANDED CHEESE RECALL ACROSS MULTIPLE STATES

The recall was initiated voluntarily by the company on June 5 and is ongoing, according to the FDA’s recall page.

It covers 25 mg chlorthalidone tablets sold in either 100 or 1000 tablets per bottle as prescribed by a doctor.

CDC URGES PARENTS TO STOP USING NARA ORGANICS INFANT FORMULA AFTER THREE BABIES HOSPITALIZED WITH BOTULISM

The 100 tablet bottles covered by the recall have a batch code of RISA24001, while the 1000 tablet bottles have a batch code of RISB24002.

The expiration date for bottles covered by the recall is April 2027.

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Steven “Little Steven” Van Zandt, musician and longtime guitarist in Bruce Springsteen’s E Street Band (also known for his role as Silvio Dante in “The Sopranos”), is selling his penthouse condo in a converted Romanesque Revival church at 135 West 4th Street. Van Zandt and his wife, Maureen, who is also an actor, bought the property for $6 million in 2008. Asking $15 million, the duplex penthouse is, as the listing calls it, “unapologetically bold,” with its unique architectural framework and interiors befitting a consigliere.

The home’s upper level is a lofty maximalist paradise beneath 20-foot wood-clad ceilings. Full-height stained glass windows frame the space with even more color, punctuated by statement pendant lighting.

Through a long, windowed gallery, a bold loft kitchen opens to a large dining room.

The most dramatic feature in this space is just outside a room-spanning glass accordion wall: A 500-square-foot private terrace with open sky views is outfitted with a full outdoor kitchen, perfect for dinner parties, private sunsets, and daytime gardening.

On the lower level, two large bedroom suites flank a sprawling media lounge. The middle space could easily be refitted as a third bedroom. Each space is accented by the building’s bold architecture, enhanced by the owners’ colorful, creative vision.

The condominium building, known as Novare, was built in 1860 as the Washington Square Methodist Church, also known as the Peace Church. It was converted to eight residences in 2006.

[Listing details: 135 West 4th Street PHE at CityRealty]

[At Leven Real Estate by Philip Hordijk]

RELATED:

The post Steven Van Zandt’s Village penthouse in a converted church asks $15M first appeared on 6sqft.

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As we gear up for the second half of 2026, what are the key things we should be watching for? With the first six months being a dramatic version of the show 24, we can hope for a calmer second half of 2026 now that the conflict with Iran is hopefully ending. 

Housing has outperformed some people’s expectations this year, as rising mortgage rates haven’t had the negative impact they did in previous years, mostly due to better mortgage spreads and slightly better affordability as wages outpace home prices. Let’s focus on what to look for in the second half of 2026.

Weekly pending sales

Our pending home sales data provides a week-to-week perspective, though results can be affected by holidays and short-term fluctuations. Our weekly pending sales data typically takes 30-60 days to be reflected in the sales data. 

For the second half of the year, I will be looking to see if we can get positive year-over-year growth in pending sales regardless of where mortgage rates go. In the past, rates above 6.64% — which typically took us over 7% — have led to sales slowing down. Housing has held up well, mostly because we haven’t broken above 7% rates this year.

My forecast for 2026 was 237,000 more existing home sales than 2025 if rates can just stay under 6.25%. This is what I will be tracking the rest of this year given that mortgage rates started to fall toward the end of 2025, and we had a nine-month high in existing home sales in December. So, the year-over-year comps for the existing home sales report will be harder to grow starting in July. 

Here are the pending sales for last week over the last two years:

  • 2026: 75,489
  • 2025: 70,352

Mortgage purchase application data

Purchase application data is a forward-looking indicator: growth here leads home sales by roughly 30-90 days. Last week we saw a decline of 3% week to week, but the data was still positive year over year by 5%. We should still have positive growth this year as mortgage rates aren’t above 7%. But, with rates near yearly highs, I want to see if we can hit my growth forecast, even with elevated rates from where we were earlier in the year. In 2025, we saw better monthly existing home sales reports in the fall and winter due to lower rates.

Here are the stats on purchase apps so far in 2026:

  • 10 positive week-to-week prints
  • 11 negative week-to-week prints
  • 2 flat week-to-week prints
  • 10 weeks of double-digit year-over-year growth
  • 21 weeks of positive year-over-year growth
  • 2 negative year-over-year prints

Housing inventory

In 2025, housing inventory growth was really good, with inventory growing 33% year over year at one point. Then we hit mid-June 2025 and I noted that the housing market was about to shift, which it did. Not only has inventory growth been slower in 2026 year over year, three out of the last four weeks were negative year over year, and this week inventory only grew 0.247%.

For the rest of 2026, it won’t be hard for the year-over-year comps to show growth, so my focus will be on how the inventory data looks with rates at these levels. Right now it looks like a flattish trend — between down 2%, flat or up 2%. So, the key will be what inventory does now when rates are below 6.75%. 

  • Weekly inventory change: (June 12-June 19): Inventory rose from 816,924 to 830,939
  • Same week last year: (June 13-June 20): Inventory rose from 825,718 to 828,890

chart visualization

New listings

Seasonality in the new listings data is here; we are starting the traditional decline and it’s been another year of not getting back to normal. Traditionally, we would see 80,000-100,000 new listings during the seasonal peak weeks, but we’ve only cracked above 80,000 four times this year and never in back-to-back weeks, as I was hoping. 

Some context for those who believe that the new listings data resembles the housing bubble years: new listings during that time ranged from 250,000 to 400,000 per week for several years. Several years!

For the rest of the year, keep an eye out for any kind of deviation from the data year over year. As we get closer to the end of the year, new listings data starts to fade even more, but we always want to keep an eye on how it behaves in the summer. By fall and once we are in winter, not so much.

Here is last week’s new listings data for the past two years:

  • 2026: 76,573
  • 2025: 76,179

chart visualization

Price-cut percentage

Typically, about one-third of homes undergo price reductions before they sell, reflecting the dynamic nature of the housing market. For the most part, price-cut percentages this year have been lower than last year.

In my 2026 home-price forecast, I had a negative 0.62% call for the year nationally. Mortgage rates fell more than I anticipated early in the year. Home-price growth really isn’t going anywhere this year, but the percentage of price cuts has been lower year over year for most of 2026. If rates fall, demand picks up and and inventory once again goes negative year over year, my forecast will have a hard time being correct.

Right now, demand is too good to grow the price-cut percentage versus last year. If mortgage rates get above 7%, that might be a different story. For the second half of 2026, I am going to focus on what happens if mortgage rates just stay above 6.50%. All the data in 2026 was based on lower rates than last year. If mortgage rates stay above 6.50%, we will eventually be working with data showing higher rates this year than last, as rates were falling toward the end of the year. I want to see if that changes the data any. Housing has performed well in 2026 because, for the most part, we have remained below 6.64% for the entire year. I don’t believe the data should change much, but I will keep an eye on it.

The price-cut percentage for last week:

  • 2026: 38.62%
  • 2025: 40%

chart visualization

10-year yield and mortgage rates

In the 2026 HousingWire forecast, I anticipated the following ranges:

  • Mortgage rates between 5.75% and 6.75%
  • The 10-year yield fluctuating between 3.80% and 4.60%

Last week was crazy: we had the deal with Iran and it was Fed week. I talked about this on two episodes of the HousingWire Daily podcast — one about new Fed Chair Kevin Warsh in general, and the second about whether Trump and Warsh, working together, can get lower mortgage rates in this environment. 

The conflict is ending but inflation is still too hot and labor has improved, so I wrote about where I believe the 10–year yield should be trading based on the economic data, which is between 4.46%-4.48%. We closed Friday at 4.46%, and now that the Fed meeting is done and hopefully the Iran conflict is over with, we can focus again on economic data to see where the 10-year yield and mortgage rates can go.

chart visualization

Mortgage spreads

Mortgage spreads have been a positive story for the past few years. I don’t expect too much drama around mortgage spreads in the second half of 2026, unless the Fed really wants to go super hawkish with the conflict ending. The chart below is the No. 1 reason housing data has held up in 2026. 

chart visualization

Historically, mortgage spreads have ranged from 1.60% to 1.80%. Last week, spreads closed at 2.0%, up from 1.99% the week before.

Let’s compare last week’s mortgage rates to where they would have been over the last three years, given the 10-year yield’s current level:

  • If we had the worst mortgage spread levels of 2023, mortgage rates would be 7.69% today, not 6.58%.
  • If we had the worst levels of 2024, mortgage rates would be 7.31% today 
  • If we had the worst levels of 2025, mortgage rates would be 7.11% today.

The week ahead: Iran, inflation and Fed speeches

We have had some crazy weekend headlines about Iran, so we will see how the market trades Sunday night. This week, we will have some Fed speeches and it will be interesting to see how Fed governors talk now, with oil prices down so much from the peak. We also have PCE inflation data that the markets will work from, too.

This will be the first clean week to work off that 4.46% level on the 10-year yield, so the the second half hunt for lower mortgage rates begins. 

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Conakry, GuineaPresident Mamadi Doumbouya ordered a halt to all exports of raw gold on Sunday, telling the country’s miners and gold-buying houses that the metal must be refined inside Guinea before it can be sold abroad. He announced the ban at a meeting with industrial and artisanal gold producers in the West African nation, casting it as a way to keep more of the country’s mineral wealth at home and grow its economy.

The timing is no accident. Gold is in the middle of one of the strongest price runs in its history. The metal is trading above $4,300 an ounce this week, roughly $1,000 higher than a year ago and up about 40% over the past 12 months. Prices remain near the records set earlier this year, driven by heavy buying from central banks, persistent inflation concerns, and uncertainty surrounding the conflict between the United States and Iran. For a country with substantial gold reserves, watching the metal leave its borders as raw material while much of the profit is captured elsewhere has become increasingly difficult to justify.

That is the heart of what Doumbouya is trying to do. Today, most of Guinea’s gold is extracted and exported with minimal processing, meaning the refining work, industrial jobs, and much of the value-added revenue are generated overseas. By requiring domestic refining, the government hopes to capture more of that value, build a local precious-metals industry, and transform raw exports into higher-value finished products.

The strategy follows a familiar economic argument. Processing natural resources domestically can significantly increase the amount of revenue a country earns from the same commodity. Guinea has already applied that reasoning to its massive bauxite industry, arguing that refining bauxite into alumina locally could generate substantially greater returns. The new gold policy extends that same approach to another major mineral resource at a time when prices remain exceptionally high.

The move also fits a broader economic agenda that has defined Doumbouya’s leadership. After seizing power in a 2021 military coup, he won a presidential election in December and was inaugurated in January, completing his transition from junta leader to elected president. Throughout that period, he has emphasized greater national control over Guinea’s natural resources.

His administration has rewritten mining regulations to encourage local processing, revoked the license of a unit of Emirates Global Aluminium amid a dispute over refinery construction commitments, and transferred those assets to a state-owned company. During the campaign, government officials repeatedly argued that Guinea’s mineral wealth should generate more benefits for Guineans themselves.

The country possesses the resources to support such ambitions. Guinea holds roughly one-quarter of the world’s known bauxite reserves, ranks among the world’s largest exporters of the ore, and is home to Simandou, one of the largest untapped high-grade iron ore deposits on the planet. Mining dominates the country’s export earnings and contributes roughly one-fifth of its economic output.

Yet despite that mineral wealth, much of the population remains poor. Mining accounts for only a limited share of formal employment, unemployment and underemployment remain widespread, and many citizens have seen little direct benefit from the country’s natural resources. For Doumbouya, the promise is straightforward: keep more of the value chain inside Guinea and convert mineral wealth into broader economic growth.

The policy also reflects a wider trend across parts of Africa. Governments in Mali, Burkina Faso, and Niger have all sought greater state control over mining operations and natural-resource revenues. Those efforts have often been framed as attempts to ensure that more wealth generated from local resources stays within national borders. Doumbouya is now applying a similar philosophy to gold during one of the strongest bullion markets in decades.

Significant challenges remain. Large-scale gold refining requires dependable electricity and industrial infrastructure. Only a portion of Guinea’s population has reliable access to power, and building modern refining facilities can require years of investment and billions of dollars. Foreign mining companies may also push back against stricter processing requirements or perceive increased regulatory risk.

There is also the question of the country’s extensive informal mining sector. Thousands of artisanal miners and small gold-buying businesses now face a sudden change in the rules governing how they sell and export their product. How effectively the government enforces the ban may ultimately determine its success.

For the global gold market, Guinea remains a relatively modest producer compared with some of the world’s largest suppliers, meaning the immediate impact on international prices is likely to be limited. The more important development may be the signal it sends. As gold remains near historic highs, resource-rich countries are increasingly asking why they should export raw commodities while other nations capture much of the downstream value.

In the near term, the burden will fall on miners, exporters, and buyers adjusting to the new requirements. Over the longer term, the success of the policy will depend on whether Guinea can build a competitive domestic refining industry and convert its mineral wealth into lasting economic gains.

JBizNews Desk | New York

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Electric-vehicle maker Rivian is laying off hundreds of workers just one week after it began delivering its most important new vehicle, the R2 SUV — a jarring sequence for a company trying to convince the public, and investors, that it is finally turning a corner. Rivian said Tuesday, June 16, that it was cutting less than 2% of its workforce as the EV maker aims to narrow losses, with the layoffs affecting some teams in its service and customer segments. The Wall Street Journal first reported the cuts.

In a statement, the company framed the move as part of its push toward profitability. “We recently restructured a handful of teams within Rivian as we work to profitably scale our business,” the company said. Rivian employed roughly 15,200 people across North America and Europe at the end of last year, putting the cuts at up to around 300 positions, concentrated in customer-facing roles rather than R2 production. Affected employees were given severance and encouraged to apply for other open roles.

The timing is striking because the R2 is the vehicle Rivian’s entire financial story rests on. It officially launched customer deliveries of the R2 on June 9, positioning the SUV as a serious U.S.-built competitor to the Tesla Model Y and the cheaper, higher-volume model meant to carry the company from a niche premium player burning cash to a mainstream automaker with the scale to make money.

So far, the market reaction has been cool. Investors reacted with disappointment to the first deliveries on June 9, with shares falling 7% that day, and analysts noted that the version now on sale is still out of reach for many buyers. The R2 Performance with the Launch Package opened at $57,990, with a Premium trim at $53,990 and a Standard version at $48,490 due in 2027, and a roughly $45,000 base model slated to follow.

This is not a one-off. It is at least the fourth round of cuts Rivian has made since the start of 2024. The move follows roughly 600 layoffs in October 2025, about 4.5% of the workforce at the time, which CEO RJ Scaringe tied to slowing EV demand after the federal tax credit expired and to leaning down ahead of the R2 launch.

Industry analysts cautioned against reading the cuts purely as a reaction to the R2. Auto analyst Brian Moody said the layoffs are likely not directly tied to the R2’s reception, pointing instead to declining interest in new electric cars and in expensive things generally, and noting the process likely began long before the launch. The backdrop is a broad cooling of the EV market after years of rapid growth.

The financial pressure is real. Rivian lost $3.6 billion last year and recently said it no longer expects to meet its 2027 adjusted core profit target. The company is also spending heavily on autonomous-driving efforts, including a robotaxi partnership with Uber, even as it tries to cut costs elsewhere.

That tension — pouring money into the future while squeezing the present — is what these layoffs are really about. Ivan Drury, director of insights at Edmunds, said Rivian may be trying to reach profitability by saving on labor, and wondered aloud to what degree the company plans to replace those people with AI and automation.

For the workers affected, the cuts land in a tough stretch for the broader tech and auto sectors, where companies are trimming headcount and steering savings toward automation and capital projects. For Rivian, the message to Wall Street is that it is willing to keep cutting even at an awkward moment to prove it can scale the R2 without scaling its losses.

The broader EV industry is facing a similar challenge. Growth has slowed from the explosive pace seen earlier in the decade, financing costs remain elevated, and consumers have become more selective about high-priced vehicle purchases. Automakers across the industry are balancing aggressive investment in new technology with pressure from investors to show a path toward profitability.

Rivian still has significant long-term ambitions. Beyond the R2, the company is developing the smaller R3 platform and continuing work on software, autonomous driving, and commercial-vehicle initiatives. Management believes those programs can eventually broaden the company’s customer base and improve margins, but they require substantial capital today.

The bigger question is whether the R2 can deliver the volume the company needs. Rivian is targeting 20,000 to 25,000 R2 deliveries in 2026 within total guidance of 62,000 to 67,000 vehicles, and it is building additional capacity, including a new factory near Atlanta. The R2 was supposed to be the moment Rivian broadened its customer base beyond its $70,000-plus R1 trucks and SUVs. Cutting hundreds of jobs in the same week it went on sale shows how narrow the company’s path to profitability has become — and how little room it has left to get the launch right.

JBizNews Desk | Irvine, Calif.

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For Gary Mercer Sr., achieving high placement on the RealTrends Verified annual rankings is less about chasing a specific number and more about a lifetime commitment to consistency.

The results, however, speak for themselves. As an individual agent, Mercer reported $167.35 million in transaction volume across 241 sides for 2025.

That performance placed him at No. 19 nationally among individual agents for sides and secured the No. 1 ranking in Pennsylvania for both sides and volume .

His team — LPT Realty-affiliated Gary Mercer Team — reported $264 million in volume across 431 sides. That was good enough for a No. 3 volume and No. 5 sides rank among mega teams in Pennsylvania, with respective national ranks of No. 55 and No. 72.

When asked about the figures, Mercer characterized them as a steady continuation of the team’s long-standing performance standard.

“I would say it was, for us, an average year post-COVID,” Mercer told HousingWire. “I mean, we have done over 500 transactions in the past. I think consistency in the approach and time on task, doing the things that work and sticking with that has been key. What we find is if we’re sticking to the basics, training and teaching and having the agents follow that, it doesn’t matter whether it’s an up market or a down market.

“That’s going to help you survive and do well no matter the market.”

The Gary Mercer Team — founded in 1990 — operates in a West Chester market characterized by low inventory, which Mercer notes has “artificially kept prices high.”

“We work with the whole gamut [of home price points],” Mercer said. “We do have a luxury team. We have a new construction team. We pretty much cover all elements and even do a little subdivision and flips and some new construction ourselves. So we’re staying active.”

Benefits of the team model

Mercer began his real estate career in 1987 and has long been an advocate for the team structure in real estate.

After nearly 30 years with an independent company — which later became Berkshire Hathaway HomeServices Fox and Roach — and a decade with Keller Williams, he moved the team to LPT Realty in May 2025.

He cited LPT’s support for team growth and its alignment with his values as key factors in the decision.

“I was an advocate and have been a supporter of teams and a believer that teams, early on, [are] the wave of the future in real estate,” Mercer said. “The LPT system really supports teams, team growth and your individual definition of success, which align with our values and principles.

“That’s why we changed companies and why we’re a hub for them in the Pennsylvania and greater Philadelphia marketplace.”

For agents looking to break into the industry or seeking a more sustainable career path, Mercer strongly advocates for the team environment as a pathway to stability and growth.

“I think for an individual agent, it’s really important for them to be aligned with successful people, and in my opinion, they get the best opportunity through a team situation,” he said. “That’s because a team will be able to generate leads to help them while they’re developing and cultivating their database for a long-term referral business.”

He elaborated on the practical advantages of the team model, noting that it can ease burdens that often overwhelm solo practitioners.

“A team model typically provides tools and systems that take the non-productive work off of an agent, so that they can focus on what they do best,” said Mercer. “That should be meeting with clients, working with buyers and getting listings, so that they can create a consistent business.

“The whole system just helps them create a more linear path to success — but individual agents can do it too. It’s just a lot harder.”

Embracing technology with pragmatism

Regarding technology, the team uses a full stack of systems including Follow Up Boss and Slack for team communication.

Mercer said he and his team are employing artificial intelligence and learning its applications as they go. However, he emphasized a disciplined approach to innovation.

“I would say that we’re adaptive to things that are current to the market that are working, but we don’t chase shiny objects,” Mercer said.

As the real estate industry continues to evolve with new technologies and market dynamics, Mercer’s formula remains rooted in fundamentals; stick to proven systems, invest in training and allow team members to focus personal connections that generate the greatest value.

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Fathom Holdings Inc. told its agents that its pending sale to Bed Bath & Beyond Inc. is intended to create an “Everything Home Ecosystem” that keeps real estate agents at the center of an expanded homeownership services platform, according to an internal email filed Monday with the Securities and Exchange Commission.

Filed June 22 under SEC Rule 425, the email was sent to Fathom’s agents after the company announced it had signed a definitive agreement to be acquired by Bed Bath & Beyond. The message emphasized that the deal remains subject to closing conditions, including shareholder approval and may not close on the expected timeline or at all.

The company addressed agent concerns about being notified only at the time of the public announcement. As a publicly traded firm, Fathom said it was required to keep details of the proposed transaction confidential until it was announced through “appropriate regulatory channels,” adding that early disclosure could have violated securities laws and jeopardized the deal.

The communication positions the transaction as part of a longer-term strategy to move beyond a single-transaction model and extend the company’s relationship with consumers over the full life cycle of homeownership. Fathom framed the Bed Bath & Beyond combination as a way to build an “end-to-end homeownership experience” that keeps agents in the middle of the relationship rather than limiting their role to intermittent purchase and sale events.

According to the email, the planned “Everything Home Ecosystem” would rest on three pillars:

  • Omni-channel retail: Home furnishings, décor, storage, organization, kitchen, bath and outdoor living products.
  • Protection and finance: Mortgage solutions, home equity lines of credit, home warranties, financial products and brokerage services.
  • Home services and renovation: Maintenance, repair, installation, flooring, cabinets, closets, storage solutions and other home improvement services.

The company said these integrated offerings are intended to keep homeowners engaged with the ecosystem long after closing while giving agents more structured ways to remain relevant to past clients. For housing professionals, the strategy underscores a broader industry shift toward cross-selling financial services, home services and retail products around a home transaction.

Fathom’s plan, if the transaction is completed, would tie its brokerage and finance operations to Bed Bath & Beyond’s consumer brand and home-related retail footprint.

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

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First, let me address the main question: Does Bank of America’s new forecast of three rate hikes before the end of the year make sense? The short answer is: No. Three Fed rate hikes in 2026 doesn’t make sense, nor has the marketplace priced in three rate hikes in such a short amount of time. 

So, what gives? Why did Bank of America say this? Let’s break this down.

Fortune reported: “In a note on Monday, BofA changed its forecast and predicted the Fed will raise rates by a quarter point three times this year, lifting the benchmark rate to 4.25%-4.5% from the current 3.5%-3.75% range.”  

I will look at the case for each side of this idea and the market will decide the rest, as the 10-year yield is currently trading at 4.51% even with oil prices below $74. Remember, my view since May 25: if the Iran conflict is truly over, the 10-year yield should be trading around 4.46%-4.48%, and then the market will work off the economic data.

My view on the 10-year yield and Fed rate hikes

The Fed hiking rates three times in 2026 seems a bit too aggressive to me, given that the conflict in Iran is over. However, taking away all the rate cuts that the market had priced in to start the year seems right, given that the labor data has improved over the last few months. Core inflation had been picking up before the conflict, so any rate cuts are off the table, even after the conflict ended. The conflict ending removed the worst-case scenario. However, for now, I have one rate hike planned for 2026.

The case for 3 rate hikes in 2026

To me, Bank of America believes the Fed should reverse all the rate cuts it made last year — which would mean the Fed hikes the Fed funds rate three times by 0.25% in 2026.

The labor data has improved for the Fed, as they have consistently said the lower job growth is primarily driven by a lower labor-force growth. As long as job growth is above 33,000 a month and the breadth of job growth is picking up, the Fed’s view is that it should reverse all the rate cuts last year. So, with inflation above target and labor data better, this is Bank of America’s new take. 

This is a very plausible argument, since the Fed said it would wait for tariff-related inflation to wind down and make sure the labor market doesn’t worsen. With inflation stronger and labor data improving, three rate hikes in 2026 isn’t as crazy as it sounds. The one knock against this, even from the more Fed-hawkish members, is that they stressed that higher oil prices and a longer-lasting conflict would make them more hawkish. This has obviously changed recently.

The case for 0-1 rate hike in 2006

While inflation is stronger than anticipated, the Fed’s recent aggressive stance was based on the conflict lasting longer than expected. Since they’re making the rules here, I would go with their take over Bank of America.

Also, the market and the Fed both agree that rate cuts are off the table; however, no market indicators are signaling three rate hikes in such a short time. The labor data, while improving, is not accelerating at a rate where wage growth falling the past few years is heading higher. Because the Iran conflict has ended and oil prices are down, it’s more believable that we get no rate hikes to one rate hike in 2026.

chart visualization

Conclusion

Notice that there is no mention of rate cuts above from me, the marketplace, the Fed or Bank of America. While some Fed officials have discussed rate cuts down the line, they would need to be more vocal, as the conflict clouded the rate-cut decision in 2026. This has obviously changed recently, but it’s safe to say rate cuts are just off the table at this point. 

Yes, this is where we are at — even with the new Fed chair, Kevin Warsh — because first, the labor market has improved; second, inflation was stronger than what people anticipated before the conflict started, and third, now if the conflict has truly ended and we can keep oil prices between $67-$82 dollars, then the worst-case scenario with inflation is gone.

Over the next few weeks, let’s see what Fed governors say about the conflict ending and oil prices being much lower. This was a big reason for them to turn hawkish. If they sound more dovish due to the conflict ending, I would weigh their takes over any Wall Street firm.

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Unruly haredi (ultra-Orthodox) protesters in Beit Shemesh blocked roads and caused damage to public property on Monday night, Israel Police announced.

The protest, Ynet reported, was centered on the indictment of a resident of the city who was accused of setting fire to plants next to the police station.

The demonstrators set fire to dumpsters and damaged fences in the area where the protests occurred.

When an officer demanded that the protesters disperse, members of the crowd threw rocks and other projectiles at the police.

Police respond to protesters with force

The police responded with forceful methods in order to clear the road, the police stated.

“The Israel Police views the incident as serious, and this is not how a protest is held,” the police stated.

“This is violence directed at the forces on the ground, while harming the fabric of life in the area. We will use all means to disperse the rioters in order to restore and maintain public order.”

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Israeli and Lebanese delegations are set to meet in Washington on Tuesday for another round of talks focused on the disarmament of Hezbollah in southern Lebanon and continued discussions on the prospect of normalization between the two countries.

The talks will take place over the next three days along two parallel tracks. Israel’s Ambassador to the United States, Yechiel Leiter, who is leading the delegation, will focus on the political and diplomatic aspects of the negotiations. At the same time, separate meetings on military issues will be led by Brig.-Gen. Amichai Levin, head of the IDF’s Planning Directorate’s Strategic Division. The Lebanese delegation will be headed by Lebanon’s Ambassador to the United States, Nada Hamadeh Maawad, together with former Lebanese ambassador to Washington Simon Karam.

According to two sources familiar with the negotiations, a central focus of the talks will be a proposed pilot program, under which the Lebanese Armed Forces would begin deploying to selected areas in southern Lebanon and dismantling Hezbollah’s military infrastructure there.

One of the key disputes concerns where the pilot program should begin. Lebanon wants the initial deployment to take place in areas currently under Israeli military control, with Israel withdrawing from each area as the Lebanese Army moves in. Israeli officials, however, insist that the first phase should begin in an area of southern Lebanon where Israeli forces are not currently deployed. Israel’s position is that it first wants to see the Lebanese Army demonstrate its ability to disarm Hezbollah and dismantle its infrastructure in a defined area before Israel fully withdraws from any territory and entrusts the mission to the Lebanese authorities.

Iran, US agree to deconfliction cell in Lebanon

The talks are taking place against the backdrop of Iran’s renewed involvement in Lebanon, this time under US sponsorship, following the conclusion of the latest round of US-Iran talks in Switzerland. At the end of those discussions, Iran and the United States agreed to establish a “deconfliction cell” involving Lebanon to prevent further military operations in the country.

According to the joint statement, “The parties agreed on the creation of a de-confliction cell, between the parties, the Lebanese Republic and facilitated by the Mediators, to ensure adherence to the termination of military operations in Lebanon.”

On Monday, Lebanese President Joseph Aoun discussed the new mechanism with President Trump’s adviser Jared Kushner, Vice President JD Vance, and Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani.

Lebanese officials questioning US promotion of Iran’s Lebanon influence

Two Western diplomats told The Jerusalem Post that, although Aoun has publicly welcomed the initiative, senior Lebanese officials have privately questioned why the United States is facilitating renewed Iranian influence in Lebanon after months of successfully reducing Tehran’s footprint in the country.

Another concern expressed by Lebanese officials is that Iran’s renewed role could encourage Hezbollah to refuse cooperation with any disarmament initiative. Signs of the group’s resistance are already evident in recent statements by senior Hezbollah officials, who now insist that Israel must complete a full withdrawal from Lebanese territory before the organization takes any steps toward disarmament.

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The haredi (ultra-Orthodox) parties Shas and United Torah Judaism continued their boycott of coalition votes for an additional week on Monday, delaying legislation from reaching the Knesset plenum amid an ongoing dispute over advancing the controversial Basic Law: Torah Study bill.

The bill seeks to enshrine Torah study in the country’s Basic Law as part of a proposal pushed by haredi parties to encourage draft evasion and change the status of yeshiva students who do not serve, enabling them to continue receiving state benefits.

It passed its preliminary reading earlier this month and still must be advanced in a Knesset committee before undergoing three more required readings to come into effect.

Shas Party leader Arye Deri also attributed the boycott of coalition voting to the recent rise in police arrests of haredi draft evaders.

“The violent arrests of Torah learners must stop! We have informed the coalition chairman that, as long as the law to stop the arrests and the Basic Law: Torah Study are not advanced, we will not support any coalition legislation,” Deri stated.

Degel Hatorah leader MK Moshe Gafni, who sponsored the bill, said in a discussion at the Knesset’s House Committee on Monday that he was “fed up with promises in this term,” and wanted to be sure that the legislation would pass.

“I am informing you unequivocally: I do not intend to humiliate myself once again. I have had enough of promises that were never fulfilled,” Ganfi added. He was referring to past legislation advanced by the coalition for the haredi parties that ultimately lacked a majority and was shelved.

Bill to advance in different Knesset committee

Lawmakers in the Knesset plenum later voted 48-35 to transfer the bill to be advanced in the Knesset’s House Committee, rather than in the Constitution, Law, and Justice Committee, which is led by MK Simcha Rothman (Religious Zionist Party).

Rothman argued that the decision to transfer the legislation to the House Committee for advancement was “in light of complex scheduling constraints and the creation of an unusual burden on the legislative agenda of the committee.”

However, there have been reports that his decision not to advance the bill in his committee was part of an attempt by Rothman’s Religious Zionist party, led by Finance Minister Bezalel Smotrich, to distance itself from the contentious legislation.

The House Committee, in contrast, is led by coalition whip MK Ofir Katz, a member of the Likud party.

Knesset legal adviser Sagit Afik warned against moving the legislation to the House Committee, telling the panel that “the legal advisory position is that the law should be discussed in the Constitution, Law, and Justice Committee.”

Afik also stressed that the legislation was a significant Basic Law, and “therefore, the legislative process must also be proper and appropriate.”

“Pressure and workload do not override, in my view, a proper legislative process. This transfer raises a serious difficulty that may undermine the integrity of the legislative process,” she warned.

Controversial haredi daycare subsidies bill

Another contentious bill the haredi parties have been pushing to advance is the haredi daycare subsidies bill, which aims to change the eligibility criteria for daycare subsidies, basing eligibility solely on a mother’s income, a move critics argue will encourage state subsidies for parents of draft evaders.

The haredi parties have also encouraged the coalition to advance legislation that would not increase haredi enlistment. The IDF has repeatedly warned of an urgent manpower shortage after more than two years of war.

In April, the High Court of Justice ordered that the state take concrete steps to revoke key financial benefits from draft evaders and to move toward criminal enforcement against haredi men who evade military service.

In March, IDF Chief of Staff Lt.-Gen. Eyal Zamir said the IDF could soon collapse if no solution was found for the manpower shortage.

The tensions also come amid the coalition’s last Knesset session to advance its legislation before the upcoming elections, scheduled for no later than October 27.

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The recent gunfire in the heart of Montreal’s Jewish community echoed through the exact streets where I spent my childhood. Watching the news unfold from afar has been devastating. I did not flee Canada; I left it with profound love and deep appreciation.

The Montreal I knew was a magnificent mosaic of genuine coexistence. It was a vibrant metropolis where authentic Canadian values of liberty, mutual respect, and democracy were not mere political talking points, but a daily reality shared by people of countless backgrounds. Today, that enduring quiet and the profound sense of security that defined my youth have been shattered. The peaceful streets of my past are now overshadowed by the harsh specter of urban terror.

Official law enforcement investigations are still underway. Authorities might ultimately determine that this specific shooting was not a strictly nationalist incident. Yet, even if that proves to be the case, we must look reality squarely in the eye.

The very fact that our community’s immediate, collective instinct was to assume a targeted antisemitic attack tells a harrowing story. It is a damning indictment of the current civic climate in Canada, one where violence directed at Jews has shifted from an unthinkable anomaly to a logical expectation.

This pervasive hostility did not materialize in a vacuum. For months, violent and unbridled pro-Palestinian incitement has been allowed to fester, often shielded by the noble concept of free speech. Radical elements have routinely hijacked university campuses and public squares, cultivating an environment of profound intimidation.

This relentless extremism is steadily cheapening Jewish life on Canadian soil. When federal and local authorities permit protests that openly glorify terrorism to proceed unchecked, the inevitable conclusion is live fire directed at Jewish neighborhoods. Shootings, firebombs hurled at synagogues, and physical assaults on Jewish citizens are rapidly becoming a horrifying new normal.

A resilient, deeply rooted community

The community that raised me is remarkably resilient and deeply rooted, yet it will no longer accept being a sitting target. It is past time for the Canadian government to abandon its dangerous complacency. Officials must stop turning a blind eye to the radicalization that currently masquerades as progressive political activism.

They must act with absolute resolve and completely dismantle these infrastructures of hatred from the root. Hollow words of comfort are no longer sufficient. Concrete, uncompromising action is required to restore the fundamental Canadian promise of safety for every citizen.

Israel embraces all Jews

Yet, while we demand absolute security for the Diaspora, we must also recognize our ultimate anchor. The State of Israel stands with open arms, ready to embrace any Jew who no longer feels safe in Canada or anywhere else. Crucially, our message extends far beyond offering a mere refuge from persecution. We enthusiastically welcome those who feel perfectly secure but simply wish to live out the Zionist dream. 

From figures like Roman Gofman, Head of the Mossad, down to my own humble self, the diverse personal stories of Olim from across the globe illuminate a profound truth. Israel is not just a safe haven. It is the ultimate land of boundless opportunity for the Jewish people. We will continue to build our home, proud and unyielding, offering a glorious future for anyone who chooses to return.

MK Dan Illouz (Likud) was born in Montreal, Canada. He has served in the Knesset since 2023 and previously held a seat on the Jerusalem City Council from 2018 to 2021.

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National Security Minister Itamar Ben-Gvir (Otzma Yehudit) warned against a “weak ceasefire” deal in Lebanon amid the emerging US-Iran agreement, saying that Israel should reject any deal that does not lead to a decisive victory.

“Not another weak ceasefire. Anyone who threatens the citizens of Israel must pay a price that will be unbearable,” Ben-Gvir said during a Monday press conference at the Knesset.

The remarks came shortly after US Vice President JD Vance said that “a lot of good progress” had been made in talks held in Switzerland. Addressing the ongoing conflict between Israel and Hezbollah, Vance said that, while “we want Israel’s security to be protected, we also want Lebanon’s sovereignty to be protected,” describing the issue as an “ongoing conversation.”

Addressing the vice president, Ben-Gvir said in his answers to press questions: “I’m telling Vance, what would you do in response to these Nazis?”

“This is a historic opportunity to create security for our future generations, to look straight into the eyes of the families of the fallen and tell them that their sons did not fall in vain,” Ben-Gvir said.

‘We respect’ Trump, but Israel comes first – Ben Gvir

“The equation must be simple: the State of Israel must be safe.”

“If not, Beirut will look like Beit Hanoun [in the Gaza Strip],” he warned.

Ben-Gvir said that, while Israel values its relationship with US President Donald Trump, security considerations must take precedence.

“We respect President Trump, but first of all, the soldiers of Israel, our fighters, our citizens. The security of Israel’s civilians comes first,” he said.

Referring to multiple recent casualties of IDF soldiers, Ben-Gvir said Israel had paid a heavy price in Lebanon and argued that previous policies had failed to provide lasting security.

“Years of measured responses, imaginary equations, and attempts to buy temporary quiet have not brought security,” he said. “Our enemies interpreted this as weakness and continued to strengthen themselves.”

Ben-Gvir argued that future attacks on Israel should be met with a far harsher response.

The national security minister also added that, if “Lebanon allows itself to become a base for terrorism against Israel, Beirut must understand that it will not be able to continue operating normally.”

“Anyone who chooses war against Israel must bear the consequences,” he said.

Ben-Gvir then sharply criticized former prime minister Naftali Bennett, who is a leading candidate in the opposition bloc seeking to replace Prime Minister Benjamin Netanyahu in the upcoming elections.

“My position, which says the lives of Israel’s citizens come first, and that Israeli mothers must not continue paying the price for surrender to international pressure, represents a huge public in Israel, far more than the position of the fraud Bennett, who is once again taking a diving course toward the electoral threshold.”

“In moments like these, leadership is tested. Not in the ability to explain why something cannot be done, not in trying to please anyone, but in the courage to do what is necessary so that Israel’s citizens can live in security. The lives of our soldiers and residents come first,” Ben-Gvir said.

Jerusalem Post Staff contributed to this report. 

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The IDF and Shin Bet (Israel Security Agency) killed a Nukhba terrorist in the northern Gaza Strip on Saturday, who had taken part in holding Omer Shem Tov in Hamas captivity after October 7, 2023, the military announced on Monday.

The terrorist, Sabai Zaher Abd al-Hamid Abu Hasna, had entered Israel during the October 7 massacre, the IDF stated, and had also planted explosive devices throughout the Israel-Hamas war.

The strike that killed Hasna, the IDF stated, had also killed Ahmed Samir Muhammad Washah, a sniper operative in Hamas’s military wing who doubled as a photojournalist for Qatari state-funded broadcaster Al Jazeera.

An additional strike conducted by the IDF in northern Gaza killed three other armed terrorists from Hamas’ military wing, all of whom the military said had been “attempting to advance attacks against IDF troops.”

Hamas engineering officer, sniper commander, killed in Gaza

Two other prominent Hamas terrorists were killed in separate strikes in the northern Gaza Strip on Saturday, the IDF announced.

One, Ahmad Munir Khalil Zaza, had been the engineering officer of Hamas West Jabalia Battalion in Gaza City, and had been involved in the production of weapons, explosive devices, and booby-trapped buildings. Zaza had, in recent months, attempted to place explosive devices near the Yellow Line, the IDF stated.

The second terrorist was Hussein Safadi, the commander of Hamas’s sniper array in Gaza City, responsible for directing sniper attacks against IDF troops, as well as training other terrorists.

“Prior to the strikes, steps were taken to mitigate harm to civilians, including the use of precise munitions and aerial surveillance,” the IDF stated.

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Iran has agreed to inspections of its nuclear materials, US Vice President JD Vance told the media on Monday upon leaving the Iran negotiations in Switzerland.

“I feel great about the progress that we’ve made,” Vance said.

“We have the Iranians allowing weapons inspectors, nuclear inspectors into their country for the first time in a long time,” he said, noting that they will ensure Iran will never have a nuclear weapon.

“We set up the mechanism to ensure not only the Straits of Hormuz are open but will stay open,” Vance added, stating that about 15 million barrels of oil exited the strait recently, bringing gas prices down.

“This is laying a foundation for what could be a truly transformed Middle East,” he continued. 

Vance said handshake refusal didn’t impact negotiations

Moreover, Vance confirmed that unfrozen Iranian assets would be used at the direction of the US, and on American goods.

“We actually asked the Qataris to set up the mechanism to ensure the money goes where we want it to go,” he said.

Vance also said that a mechanism to ensure the ceasefire in the Middle East would last had been established, and that efforts were coordinated with Israel and Arab countries.

Vance said he didn’t feel snubbed by the Iranian delegation’s refusal to shake hands at the beginning of negotiations.

“I’ve spent a lot of time dealing with the Iranians over the last few months.

“We had a little press conference, they obviously don’t quite have the same first amendment protections in Iran that we have in the United States of America.”

“We talked to [the media] and then had a series of really good meetings.”

“After that initial meeting, there was this sort of social media firestorm where everybody said the Iranians are gonna leave, and then we proceeded to talk to them for, like the next nine hours,” Vance continued.

Further, Vance implored media to treat Iranian social media reports with a grain of skepticism before boarding Air Force 2.

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In 2020, amid a worldwide pandemic, I launched a new business called DOORA, which was a combination interior design firm and furniture gallery that morphed into a vertically integrated real estate company. The concept centered on turning houses into homes and owning the various stages of that process.

This is similar to the angle Better Homes and Gardens has been working for decades — bringing in its consumer-facing media brand and combining it with real estate.

I was reminded of my time at DOORA when I heard the news about Bed Bath & Beyond’s acquisition of Fathom Holdings last week. Does this signal a new acquisition model for the real estate industry and, if so, who’ll benefit?

I’m a believer in this model, not just because it makes shopping for cool closing gifts easier but because of the big-picture implications for both agents and consumers.

Opening the door on a curious M&A deal

The acquisition probably took many by surprise, and on the surface, the retail-meets-brokerage model reads as unusual. But the deeper industry impact is less about novelty and more about direction. 

Ever since the advent of HGTV-style home shows and reality-TV real estate, the home has been becoming a branded consumer ecosystem. 

Just as I believed when I started DOORA, housing, design and retail don’t have to sit in separate lanes. They’re just sold that way. To me, the integration of a real estate business and a home goods retailer makes intuitive sense.

Consumer engagement solves the follow-up problem

The strongest aspect of the deal, to my mind, is the shift from transactional real estate to continuous consumer engagement. Instead of communicating only during a purchase or sale, agents have the opportunity — and the excuse — to reach out on a regular basis.

Once the homeowner becomes part of a brand ecosystem like the one Bed Bath & Beyond and Fathom are building, the opportunity extends far beyond the closing table to furnishings, design services, upgrades, (re)financing and repeat lifecycle engagement. Instead of a one-time commission, the home becomes the foundation of an ongoing relationship.

For a company like Bed Bath & Beyond, the logic extends beyond diversification, offering access to a targeted audience focused on filling and maintaining a home across decades. Real estate brokerages and mortgage platforms sit on one of the most valuable, high-intent datasets in consumer commerce. The portals already know this and now retailers are catching up.

People browsing homes are signaling major life transitions like moves, upgrades, relocations and wealth shifts. Owning that moment creates leverage that traditional retail has never fully captured. Now it can be captured at unprecedented scale.

What happens when brokerage becomes a brand extension of retail?

Now, extend that logic far enough, and the brokerage looks less like a standalone service business and more like a distribution channel for lifestyle commerce.

That raises the interesting question: Will real estate companies become retailers, or will retailers become real estate platforms?

Brands like Restoration Hardware, Anthropologie and Urban Outfitters have already blurred into home ecosystems without owning the real estate transaction. They influence taste, furnishings and identity the moment someone moves.

The missing piece has always been proximity to the transaction itself. That gap hints at a future where the emotional and financial sides of homeownership are no longer separated by industry lines but brought together through brand alignment.

Could we see an upscale brand like Restoration Hardware buy Douglas Elliman or The Agency buy Nordstrom’s? Could we see Living Spaces or Ashley Furniture buy EXIT Realty?

Restoration Hardware in particular has restaurants and stores. They have access to staging furniture from their outlet, and could sell the properties furnished. They even know how long I’ve owned the furniture in my current house (12 years, in some cases), which tells them that it’s either time for me to move or buy new furniture.

The RH catalogue is sent to my home every quarter. Why not display properties for sale around the world, staged with RH fixtures and furnishings?

And you have to admit, the RH logo would look killer on a For Sale sign.

There’s a reason this idea keeps resurfacing in different forms: it works, at least in theory, because the consumer experience already behaves this way. Someone buys a home, then enters a multi-year spending cycle tied to that decision. Furniture, renovation, design, services, financing — all of it clusters around the original transaction.

Vertical integration is simply an attempt to stop seeing those as separate industries, adding cohesiveness to proximity.

I’d love to sit down with Bed Bath & Beyond’s Marcus Lemonis to get more of his perspective. Until that happens (Marcus, give me a call!), we’ll have to speculate on his strategy and wait to see how the integration gets implemented.

Whether this specific acquisition becomes a blueprint or an outlier, it’s clear that real estate is no longer just a service industry. It is becoming a consumer brand environment, where trust, data and lifestyle matter just as much as listings and commissions.

Troy Palmquist is executive-level growth expert specializing in residential real estate.

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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Executives at United Wholesale Mortgage (UWM) and Two Harbors Investment Corp. (TWO) raised the heat in an email exchange during their latest round of deal negotiations.

TWO mentioned that UWM could be trying to frustrate competitor CrossCountry Mortgage (CCM) in its efforts to acquire Two Harbors, while UWM alleged that TWO executives are prioritizing their own compensation in detriment of shareholders. The email exchange — included in filings with the Securities and Exchange Commission (SEC) — were between Bill Greenberg, president and CEO of Two Harbors, and Mat Ishbia, chairman and CEO of UWM.

A shareholder meeting to vote on the proposed CCM deal is scheduled for June 23, after being postponed once from May 28 and a second time from June 11. The email exchange shows that 73% of shareholders have submitted a vote, with 54% of them opposing the CCM merger — but since the information was disclosed June 15, it may have changed.

“Assuming these numbers are accurate, the disclosure suggests that Two might lack the shareholder votes needed to approve the CCM proposal,” analysts at Keefe, Bruyette & Woods (KBW) wrote on Monday.

Two Harbors, a New York-based real estate investment trust, continues to recommend that shareholders vote in favor of its existing agreement with CCM for $12 per share in cash, plus a stub dividend.

“TWO stockholders face a consequential choice at TWO’s Special Meeting: the certainty of $12.00 per share in cash under the CCM transaction or the potential significant decline in the value of TWO common stock if the transaction is not approved – with no actionable alternative on the table,” the company told shareholders in a letter on Monday. 

TWO stocks were trading at $12.28 on Monday afternoon, down 0.32%. 

In response, UWM released a statement a few hours later: “It is ironic that the Two Board bemoans the decline of its stock price, when they have a path to maximizing value for all TWO stockholders: true engagement with UWMC,” the statement read. 

UWM’s most recent offer was $12.50 per share in cash, or if a stockholder chooses, 2.3328 shares of UWMC stock.

‘Play for the media’

According to the SEC filings, on June 8, Greenberg invited Ishbia to New York to discuss an all-cash acquisition following a waiver of CCM’s non-solicitation provisions. Ishbia said he could not fly to New York and instead invited Greenberg to Pontiac, Michigan, or propose an online meeting later in the week.

Greenberg reminded him of the June 12 waiver deadline, but Ishbia made himself available only one day before it.

According to Two Harbors, during a June 11 call, Ishbia said he was not sure any proposal would be forthcoming and that he needed additional information about TWO’s financials. Greenberg said nothing material had changed and provided updates on spread performance, MSR values and prepayment speeds during the quarter.

Following the meeting, Ishbia wrote that UWM needed to understand “why” and how TWO wanted the offer adjusted, raising concerns that executive postures were tied to their roles.

“The fact that your shareholders can elect stock doesn’t make it worse,” Ishbia wrote. “I know you personally get paid out differently if stock is a component of the deal, but once again, that isn’t a good reason to not approve that deal.”

Ishbia offered to modify the exchange rate, default to cash rather than stock, or provide a “higher of” structure for “sleepy” shareholders, noting that UWM’s stock was lower. He blamed interest rates and the war in Iran. He also said concerns about whether UWM could fund an all-cash deal were “ridiculous and obviously just play for the media.”

Rejecting accusations

Greenberg responded by email, saying that he and Steve Kasnet — an independent director and chairman of the Two Harbors board — rejected accusations of “self-dealing” and suggestions they were focused on their own pay.

“Our Board’s ask for all-cash consideration is based on its fiduciary duties to all TWO stockholders — including those who would receive default consideration worth less than 50% of the headline price,” Greenberg wrote.

Based on the June 12 closing price of UWMC Class A common stock of $2.38 per share, the default stock consideration implied a value of approximately $5.55 per share — less than half of the $12.50 cash election, Two Harbors said.

In response, Ishbia said that if Two shareholders wanted $12 in cash for their stock, they could call their broker and sell it, noting the shares had been trading well above $12 for six weeks. He said executives reached out because 73% of shareholders had voted, but 54% were against the deal, and the meeting was adjourned. “Are you a Chairman or a Dictator?” Ishbia wrote of Kasnet.

Ishbia also said he was “summoned to go to NYC” and added: “In all due respect, who the heck do you think you are?” He also said TWO’s lawyers threatened UWM with violations of nondisclosure agreements by having consulting firm Okapi Partners contact shareholders.

Greenberg ended communications by saying that if UWM had a different proposal with no stock component, it should present it and the board would consider it.

“If you are prepared to submit a proposal that addresses the Board’s stated concerns, we encourage you to do so. If you have a different proposal to present, present it — the Board will consider it. If the goal is to frustrate a competitor’s transaction, that is unfortunate but we understand that as well.”

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Microsoft CEO Satya Nadella issued a warning that the tech giants competing in the AI race need to ensure they advance the emerging tech in a way that’s palatable to the public.

Nadella said in an interview with The Wall Street Journal that the handful of companies at the forefront of the AI race calling for large amounts of resources to expand may not make a compelling case to the public alongside concerns about the safety of AI and its workforce impact.

“You can’t say, hey, all white-collar jobs are gone and this could even be a weapon and we will use all the power to build data centers,” Nadella told the Journal.

He added that he doesn’t think the public will tolerate a few AI models and companies “doing all of the learning for the world.”

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Nadella went on to say that corporate leaders who view AI as a means to eliminate jobs and reduce costs are looking at the technology wrong, saying they should instead be thinking about “reorganizing the job” to better leverage their workers’ abilities. The Microsoft CEO said that companies need to have both human capital and in-house AI capabilities he referred to as “token capital.”

That can serve as a “recipe” for how firms across the economy can harness both AI and workers, though he acknowledged that “it’s a lot of change management, it’s a lot of displacement, but there is a path.”

The combination of knowledge derived from humans and AI can create a “continuous learning system” and the character of companies will be defined by the “tacit knowledge that they contain” from both sources,” Nadella added.

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He added that companies will have to take tangible steps to persuade the public and workforce about the economic opportunities ahead, as narratives alone won’t be sufficient.

“No amount of just narrative is going to do it because where we are now, we have to sort of walk the walk,” Nadella told the Journal. “We now have to do the hard work in earning the social permission.”

Microsoft has recently pivoted in the AI race to offer a suite of low-cost models that aim to reduce prices for customers, as many face mounting bills amid the push to implement AI tools into operational tasks.

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The move aims to shift the focus of the AI rollout from the makers of frontier models to commoditizing models by offering them through its Copilot platform. 

Microsoft is a longtime partner of ChatGPT-maker OpenAI, though the companies recently reached an agreement to allow OpenAI to work more deeply with other tech firms, while it also secured a deal with Anthropic last year.

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Axios previously reported that Microsoft was weighing offering a version of the Chinese model DeepSeek on Copilot.

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New York — The two largest U.S. private prison companies are reporting record financial results as the federal government expands immigration detention capacity, according to company earnings reports, investor presentations, and federal contract disclosures. The surge has transformed what was once a struggling industry into one of the fastest-growing corners of the government-contractor market.

GEO Group reported net income of approximately $254 million for 2025, a company record and roughly seven times higher than the prior year. Rival CoreCivic posted profit of about $116.5 million, up sharply from 2024 as both companies benefited from new immigration detention contracts and the reopening of previously idle facilities.

The gains come as the Trump administration pursues a significant expansion of immigration enforcement operations. Federal spending on detention infrastructure has increased dramatically, creating new opportunities for companies that operate correctional and detention facilities under government contracts.

On a recent earnings call, GEO Group Executive Chairman George Zoley told investors the company secured approximately $520 million in new annualized contracts during 2025, the largest amount of new business in the company’s history. Much of that growth came from agreements with U.S. Immigration and Customs Enforcement (ICE) and other federal agencies seeking additional detention capacity.

The company has reopened facilities that previously sat vacant and expanded operations at existing locations. GEO says it now manages roughly 50,000 beds across its network of detention, correctional, and community supervision facilities.

CoreCivic has experienced a similar surge.

According to company filings, revenue from ICE, its largest government customer, rose more than 96% during the first quarter of 2026 compared with the same period a year earlier. The increase followed the activation of multiple facilities and the acquisition of additional detention capacity designed to accommodate rising federal demand.

Executives at both companies have repeatedly told investors they expect growth to continue as the government expands detention operations nationwide.

The financial turnaround marks a dramatic reversal for an industry that faced significant political and financial challenges only a few years ago. Several major banks reduced lending relationships with private prison operators, while some government agencies moved away from private detention contracts.

Today, the environment looks very different.

Congress recently approved funding that significantly increases resources available for immigration enforcement and detention. Industry analysts estimate that federal detention spending could reach levels never before seen, creating billions of dollars in potential contract opportunities.

Supporters argue the facilities provide capacity the government cannot quickly build on its own.

Critics counter that the rapid growth raises concerns about accountability, detention conditions, and the role of private profit in immigration enforcement.

Human-rights organizations and immigration advocates have long argued that private detention operators have financial incentives that may conflict with detainee welfare. Both GEO Group and CoreCivic reject those claims and say they operate under strict federal standards and oversight requirements.

The debate has not slowed investor enthusiasm.

Shares of both companies have risen substantially since the administration’s immigration enforcement expansion began. Investors increasingly view detention operators as direct beneficiaries of federal spending growth, much like defense contractors benefit from military spending increases.

Analysts note that unlike many traditional industries, private prison companies depend heavily on government policy decisions. Changes in enforcement priorities can have immediate effects on occupancy rates, revenues, and profitability.

That creates both opportunity and risk.

A future administration could pursue different immigration policies, reducing detention needs and reversing some of the industry’s gains. Investors have seen similar swings before as election outcomes reshaped federal detention priorities.

For now, however, demand continues to move in one direction.

Federal officials have indicated they want significantly greater detention capacity, and private operators remain among the fastest ways to provide it. Building new government-owned facilities can take years, while existing private facilities can often be activated much more quickly.

The resulting increase in occupancy has helped improve margins across the industry. Fixed costs are spread across more detainees, making each facility more profitable as utilization rises.

The economic impact extends beyond the companies themselves.

Many detention centers are located in smaller communities where they serve as major employers. Facility expansions often create new jobs ranging from corrections officers and medical personnel to maintenance workers and administrative staff.

Supporters frequently point to those local economic benefits when defending detention contracts.

Opponents argue taxpayers should closely scrutinize how public funds are being spent and whether private contractors are delivering appropriate value.

Regardless of where the political debate ultimately lands, the business results are difficult to ignore.

Record profits, expanding contracts, rising occupancy, and increased federal spending have combined to create one of the strongest operating environments the private detention industry has experienced in years.

As immigration enforcement remains a central national issue, the companies positioned to house detainees are finding themselves at the center of one of Washington’s fastest-growing spending categories.

JBizNews Desk | New York

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For decades, Las Vegas sold itself on a simple promise: cheap rooms, cheap food and free parking, all designed to get visitors through the door and keep them spending once they arrived. That formula helped transform a desert gambling town into one of America’s biggest tourism engines.

Today, that promise is fading.

According to the Las Vegas Convention and Visitors Authority (LVCVA), approximately 38.5 million people visited Las Vegas in 2025, down about 7.5% from the previous year and the lowest annual total since 2021. The decline marked the steepest drop outside the pandemic period and capped a year in which visitor numbers fell month after month.

The city remains one of the world’s most popular destinations, but it is attracting a different kind of customer than it once did.

Ironically, while fewer people are showing up, the casinos are making more money than ever.

According to the Nevada Gaming Control Board, gambling revenue on the Las Vegas Strip reached a record $8.8 billion in 2025, while casinos across Nevada generated nearly $15.8 billion, also an all-time high.

In simple terms, Las Vegas is earning more from fewer visitors.

The reason is that the people still coming are spending significantly more money. High-limit table games, premium slot machines, luxury hotel suites, celebrity-chef restaurants and VIP experiences have increasingly replaced the value-focused model that once defined the city.

LVCVA President and CEO Steve Hill has acknowledged the slowdown in visitation but noted that gaming revenue has remained remarkably strong despite the decline.

That gap between fewer visitors and higher revenue explains much of what is happening in Las Vegas today.

Consider what an average trip now costs.

The average daily hotel room rate on the Strip was approximately $183 per night in 2025. But that figure often excludes mandatory resort fees that can add $35 to more than $50 per day to a bill.

Parking, once free across most major casinos, now frequently costs between $18 and $25 daily, while valet parking can exceed $40 per day.

Food costs have climbed as well. Visitors routinely report paying double-digit prices for basic items such as coffee, sandwiches and snacks that would cost far less at home.

Many of the perks that once defined Las Vegas have also become harder to find.

Complimentary meals, free show tickets, room upgrades and other casino giveaways have become increasingly reserved for higher-spending customers. At the same time, some gamblers complain that table-game odds have become less favorable than they were years ago.

The overall message is clear: Las Vegas is no longer targeting budget travelers the way it once did.

The shift is visible among different visitor groups.

International tourism has softened considerably. Travel from Canada, one of Las Vegas’ largest foreign visitor markets, fell sharply in 2025. Families and value-conscious travelers are increasingly choosing shorter vacations or less expensive destinations closer to home.

The visitors who remain tend to fall into three categories: gamblers, convention attendees and luxury travelers.

That is exactly the customer base casino operators have been pursuing.

Major resort companies have invested heavily in luxury hotel towers, high-end dining, entertainment residencies, championship sporting events and premium experiences designed to attract travelers willing to spend thousands of dollars during a visit.

Events such as Formula One, the Super Bowl, UFC championship fights and major conventions have become central pillars of the city’s growth strategy.

The convention business remains particularly important.

In one of the strongest months of 2026, convention attendance surged more than 30% year-over-year, helping push average room rates above $200 per night and generating some of the strongest hotel revenue figures in city history.

There is logic behind the strategy.

Analysts at commercial real-estate firm CBRE note that resorts face rising labor, insurance, utility and operating costs. Charging resort fees, parking fees and premium prices allows casinos to maintain profitability even if overall visitor traffic declines.

From a corporate perspective, earning more from each guest can be more attractive than chasing larger crowds.

But there is also a risk.

Las Vegas built its reputation as a destination where ordinary Americans could feel wealthy for a weekend. If travelers increasingly believe they are being nickel-and-dimed at every turn, the decline in visitation could become a longer-term problem.

Fewer visitors ultimately affect more than casino profits. Hotels, restaurants, retail stores, entertainment venues and service workers all depend on steady tourism traffic.

A prolonged slowdown could eventually impact jobs and economic growth across southern Nevada.

There are signs the situation may stabilize.

The UNLV Center for Business and Economic Research projects visitation could climb back toward 40 million visitors in 2026 if economic conditions remain favorable and the city’s packed events calendar continues to draw crowds.

Still, the larger question remains unresolved.

Can Las Vegas successfully position itself as a luxury destination while remaining affordable enough for the middle-class travelers who built the city in the first place?

For most of its history, Las Vegas made visitors feel like high rollers regardless of their budget.

Its latest wager is that enough people will be willing to pay premium prices to keep that illusion alive.

JBizNews Desk | Las Vegas

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California Gov. Gavin Newsom is blaming politics for a Department of Justice investigation into his and his wife Jennifer Siebel Newsom’s finances, but one critic says that explanation does little to address the conduct that drew federal scrutiny in the first place.

“We don’t know whether these investigations are politically motivated or not,” California Post opinion editor Joel Pollak told FOX Business.

“It didn’t help John Bolton when he said that the investigation into his misuse of classified information was politically motivated. He just recently pleaded guilty, so that doesn’t actually explain whether Newsom is guilty or not.”

Pollak said the controversy extends beyond charitable donations and centers on so-called “behested payments” — contributions solicited by elected officials for causes or organizations they support.

GAVIN NEWSOM CLAIMS TRUMP ORDERED DOJ PROBE TARGETING HIM AND HIS WIFE

In Newsom’s case, Pollak noted that some of the payments were directed to organizations linked to Newsom’s wife, Jennifer Siebel Newsom, raising questions about potential conflicts of interest.

“It wasn’t just charitable donations,” Pollak said.

He was fined for failing to report what are called behested payments… and if Newsom were being honest with the voters of California, he would come clean about what these behested payments are, instead of waiting until beyond the deadline to account for them,” he added.

Pollak argued that the arrangement creates the appearance that donors could receive favorable treatment from the governor.

CNN PANELIST COMPARES HUNTER BIDEN, GAVIN NEWSOM MASH UP TO ‘WEIRD TEENAGE MUTANT NINJA TURTLES’

The governor has accused the Trump Department of Justice’s investigation of being politically motivated and linked it to his expected 2028 presidential run.

“After calling for my arrest last year, Donald Trump directed his Department of Justice to investigate me,” Newsom said in a video statement. “And just in the last week, I’ve learned his campaign has reached my own home: to get me, he’s coming after my wife, Jen.”

In a statement to Fox News, Jennifer Siebel Newsom blasted the Trump administration for the alleged overreach.

“There are clearly no boundaries to what Donald Trump will do to get his way or to challenge those who get in his way. This is not presidential behavior, and the Governor and I will continue to speak truth to power because the American people deserve so much more,” she said.

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The California governor’s office previously referred Fox News Digital to a fact sheet claiming that federal investigators spent months trying to indict Newsom and, upon failing, widened their search for criminal activity. The fact sheet also asserts that federal agents have subpoenaed records and conducted interviews covering years of activity.

Sources familiar with the matter told Fox News that the investigation has been ongoing since 2025 and that the probe is based on whistleblower complaints related to Newsom and his wife’s personal finances. The case is being handled by the U.S. Attorney’s Office in Sacramento. 

Fox News Digital’s Bonny Chu and Robert Schmad contributed to this report.

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As the United States and Iran move into negotiations over a permanent end to the war, a Jerusalem-based legal NGO is urging international bodies to keep criminal accountability on the agenda.

The Jerusalem Institute of Justice (JIJ) has published a report arguing that the Islamic Revolutionary Guard Corps’ missile and drone campaign against Israel and other states in the region should be examined as a potential series of war crimes.

The JIJ called on the International Criminal Court, UN mechanisms, and European prosecutors to assess individual responsibility within the Iranian command structure.

The report covers the period from February 28 through early April. It alleges that Iran fired more than 2,300 missiles and 5,350 UAVs at Israel and neighboring states, including the United Arab Emirates, Kuwait, Bahrain, Saudi Arabia, Jordan, Iraqi Kurdistan, Qatar, Oman, Cyprus, and Turkey.

Those figures are the organization’s own compilation, drawn from what it describes as open-source reporting, official releases, and an internal database. The report also acknowledges that battlefield attribution, casualty reporting, and the distinction between direct impacts and interception debris remain incomplete in several of the countries it examined.

Regarding Israel, the JIJ said Iran had launched 650 missiles and at least 479 separate barrages, including cluster-capable weapons. The scale and design of the attacks – particularly high-volume salvos intended to strain air-defense systems – indicate an unlawful strategy of indiscriminate fire and the terrorization of civilians, rather than solely attacks on military targets, it said.

Prosecution through either ICC or universal-jurisdiction countries could be on the table

The campaign left at least 20 people dead and more than 7,000 wounded in Israel, while causing widespread disruption to schools, air travel, workplaces, and civilian infrastructure, the report said. It did not assess the legality of the US-Israeli airstrikes on Iran that preceded the Iranian campaign, which Tehran has described as unlawful.

The legal argument rests on two routes. First, JIJ argues that missile debris and alleged airspace violations in Jordan and Cyprus could allow the ICC to examine the broader campaign, because both are parties to the Rome Statute.

Second, it cites universal-jurisdiction laws in Germany, France, and Sweden as possible avenues for domestic investigations into war crimes.

Those are legal arguments, not existing proceedings. Any ICC examination would require the prosecutor and court to determine that the alleged conduct falls within the court’s jurisdiction and meets the evidentiary and legal thresholds for a case.

“We are not asking for another toothless UN condemnation, nor will we accept a diplomatic agreement that grants amnesty for war crimes,” JIJ CEO Flavia Sevald said.

The JIJ initially said it had sent its evidentiary record to European parliamentarians. Asked by The Jerusalem Post about its broader distribution, the JIJ said the report had also been sent to UN mandate holders and other relevant UN mechanisms in Geneva and New York, as well as diplomatic missions and officials in about 20 countries.

The JIJ said it hoped the material would support formal condemnation of Iran, demands for accountability, possible ICC arrest warrants, universal-jurisdiction proceedings, and efforts to prevent Iran from holding leadership or membership roles in UN bodies.

The push comes as Washington and Tehran pursue a 60-day process toward a final agreement, after signing an interim memorandum of understanding that addresses the end of hostilities, shipping through the Strait of Hormuz, sanctions, frozen Iranian assets, and Iran’s nuclear program.

Israel is not a party to the US-Iran negotiations, which have also been tied to efforts to halt fighting between Israel and Hezbollah in Lebanon.

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Iranian Foreign Ministry Spokesperson Esmail Baghaei said that the country’s interactions with the International Atomic Energy Agency (IAEA) would continue, Iranian state news agency IRNA reported on Monday.

“Iran’s interactions with the Agency will continue in accordance with Iran’s commitments under the safeguards agreements, according to existing procedures and in accordance with the approvals of the Islamic Consultative Assembly and the decisions of the Supreme National Security Council,” IRNA cited Baghaei as saying.

IRNA further reported that Iran made no additional commitments on nuclear issues during the talks in Switzerland on Sunday, with the issue not discussed at all during the day’s 18-hour negotiations.

Earlier on Monday, Iran’s Islamic Revolutionary Guard Corps (IRGC)-affiliated Tasnim News Agency denied claims that IAEA inspectors would be allowed access to the country’s nuclear sites under the Memorandum of Understanding (MoU).

“The issue of issuing a permit for the agency’s inspectors to enter Iran has not been confirmed by the Iranian negotiating team or other responsible officials in the government,” said Tasnim. “It is better that it is never confirmed!”

Later on Monday, US President Donald Trump said in a post on Truth Social that Iran will agree to have weapons inspections to ensure “nuclear honesty” long into the future, echoing comments made by Vice President JD Vance.

US Treasury Secretary Scott Bessent had said earlier on Monday in an X/Twitter post that Iran had agreed “to permit IAEA inspectors into their country.”

Tasnim: Bessent claims ‘very damaging’

The Iranian news agency called the claims “very damaging,” saying that the arrival of IAEA inspectors would violate the MoU. 

It added that Iran “should not assume higher duties” than those required under the MoU, and that Iranian officials in Switzerland prevented the IAEA Director-General, Rafael Grossi, from attending Sunday’s negotiations.

“One of the most important things that Iran currently has that prevents some of America’s follies is the policy of ‘nuclear ambiguity’ and the fact that the location of nuclear-enriched materials is not known to the Americans,” Tasnim wrote. “If the policy of nuclear ambiguity collapses with the arrival of IAEA inspectors in Iran and the Americans complete their information in this field, it will only benefit the enemy.”

“This is probably the reason why no Iranian official has confirmed such a claim so far,” added Tasnim. “We hope it will not be confirmed in the future.”

Tasnim: IAEA ‘America’s foot soldiers’

Tasnim further claimed that American physicist and nuclear weapons expert David Albright referred to IAEA inspectors as “America’s foot soldiers” during a Senate speech.

The request for IAEA access was “an additional mistake” following the IAEA’s failure to prevent the US bombing of Iran’s “peaceful” nuclear sites, Tasnim continued, describing the request as an “attempt to complete American spying information.”

“Any possible presence of inspectors shall be subject to final agreement,” Tasnim concluded. “An agreement that is unlikely to be reached, considering the experience from America.”

Reuters contributed to this report.

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American allies of US President Donald Trump this week defended him to an Israeli public anxious about a US interim deal with Iran and White House criticism that together appeared to signal fissures in Israel’s decades-old alliance with Washington.

The US-Israeli relationship has been on a roller coaster, from the early confidence they shared after their joint attack on Iran to public disagreements between Trump and Prime Minister Benjamin Netanyahu over how to end the four-month-old war.

Netanyahu and many other Israelis see a risk that Trump’s Memorandum of Understanding (MoU) with Iran will empower a state they regard as their deadliest enemy and constrict their ability to respond to threats from Iran-backed Hezbollah in Lebanon.

They sense the US alliance – long the bedrock of Israel’s strategic approach – is under strain as opinion polls show Americans increasingly unhappy with Israel and their strongest champion in Washington appears to be turning away.

“The United States and Israel have an unbreakable bond,” Mike Huckabee, the US ambassador to Israel, said on Sunday after acknowledging there was an “enormous level of anxiety about the relationship.”

He spoke at a foreign policy conference in Jerusalem, where concerns about the state of the US-Israel alliance dominated many of the discussions.

Mark Levin, a conservative Fox News commentator and longtime Trump supporter who has broken with the president over the Iran deal, told the audience that while he did not like the agreement and believed that the “Iranian regime” had to be destroyed, he nevertheless praised Trump for what he said was the president’s support for liberty, religious freedom, Christianity, and Judaism.

Israelis worry over criticism from Republicans

Alongside their concerns about the wording of the Iran deal, Israelis worry about Trump’s insistence on Israel agreeing to a ceasefire with Hezbollah in Lebanon and his language responding to Netanyahu’s resistance to those agreements.

In recent weeks, Trump has called Netanyahu “f***ing crazy,” lectured Israel that “you don’t have to knock an apartment down every time you’re looking for somebody,” and publicly pondered asking Syria to replace Israeli troops in Lebanon.

US Vice President JD Vance also struck a more critical tone, saying “Trump is the only head of state in the entire world who is sympathetic to the nation of Israel at this moment in time,” adding later that not all criticism of Israel should be dismissed as antisemitism.

The fact that such sharp views are emanating from Trump’s Republican Party is especially worrying for many Israelis, with US Democrats far more vocally critical of Israel than in previous years.

Sid Rosenberg, a prominent conservative New York radio host, told Israelis that, despite their concerns about Trump, he was the best option for them. “You could have JD Vance. Good luck with that,” he said, after acknowledging that “a lot of people in Israel are very, very upset” with the president.

While large majorities of Republicans 50 and older view Israel positively, younger conservative Americans have grown more critical, a Reuters/Ipsos poll from late March showed. Some 57% of Republicans aged 18-49 have an unfavorable opinion of Israel, up from 50% a year previously.

Many Americans, including prominent Democratic politicians, were outraged by the scale of death and devastation in Israel’s military campaign in Gaza after the deadly Hamas attack of October 7, 2023, on Israeli communities and the taking of hostages.

Israel has also faced criticism over the joint decision to launch the war on Iran, a conflict that is deeply unpopular in the United States, including among Trump’s conservative base.

Victoria Coates, vice president at the conservative Heritage Foundation think tank and Trump’s deputy national security adviser during his first term, suggested on Monday that the US-Israeli relationship was strained but expressed confidence that the leaders of both countries would bring it “back on track.”

A day earlier, speaking at the conference, she had said that recent days had been “challenging for all of us, to put it mildly,” but that there had been plenty of “great and good things” in Trump’s second term “for which we can and should be grateful.”

Officials: Netanyahu not concerned by Trump comments

Until recently, Trump had been seen in Israel as its strongest-ever White House ally after his decision in his first term to recognize Jerusalem as Israel’s capital and Israeli sovereignty over the occupied Golan Heights and his leading diplomatic role securing the release of hostages last year.

Two Israeli officials familiar with Netanyahu’s thinking said the prime minister was not concerned that comments by Trump and Vance indicated any meaningful US policy changes, such as slower arms deliveries.

Netanyahu believed the comments might be partly geared towards assuaging voters ahead of US midterm elections in November amid growing frustration over Israel and the war, said the officials who spoke on condition of anonymity.

The anxiety in Israel has led some prominent figures to say it is time for the country to envisage a future without strong US support and to further build up its own military and technological capabilities.

Ohad Tal, chair of the US-Israel caucus in Israel’s parliament, the Knesset, said Israelis needed to prepare for the day when there is a less supportive US president, “and this is why we have to be much more independent, and we have to forge new alliances.”

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Villager Realty, an independent Chicago-area brokerage founded in 1991, has joined REMAX Premier on Chicago’s North Shore, moving its roster of agents into the REMAX network.

The transition, led by broker-owner Dan Crouch, marks a return to the REMAX brand after the brokerage previously operated as a REMAX office before becoming independent.

Crouch said the decision was driven by a desire to provide agents with additional technology, training and brand resources that were difficult to offer as an independent brokerage.

“When we were independent, there were limits to what I could provide,” said Crouch. “I felt responsible for my agents and their success, and I knew we needed the right tools, education and brand support to move forward.”

According to the company, all of Villager Realty’s active agents joined REMAX as part of the transition.

“The fact that he didn’t lose an agent speaks volumes,” said Bobbie Fisher, a REMAX Premier recruiter who assisted with the move. “They’re independent agents, but they’re incredibly loyal, and that kind of trust is rare.”

REMAX Premier reported nearly $414 million in 2025 volume across 1,105 transaction sides to RealTrends Verified.

Looking ahead, Crouch said he plans to focus on expanding his own business, developing a team structure and supporting agents as they transition into the REMAX network.

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

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Earlier this month Mauricio Umansky’s firm The Agency made a splash in New York when it announced the affiliation of a 1,200 agent strong former Christie’s International Real Estate affiliate and the creation of The Agency One Rock

While the firm’s strong agent count and 26 offices spread across New York City, Westchester County, the Hudson Valley and New Jersey, look like a massive get on paper, agents at the former Christie’s International Real Estate affiliate say things are far more complicated. 

In early January 2026, Stephen Braconi, an agent who was brokered by the former affiliate until late 2025, filed a lawsuit against the firm, its New Jersey operation and Darlene Bandazian, its broker of record, alleging that the firm left commissions that were owed unpaid and accusing the firm of unfair charges. The suit was filed in a Bergen County-based New Jersey Superior County Court. 

In the complaint, Braconi claimed that the company has failed to pay him over $145,000 in commissions related to deals that closed in late 2025. Additionally, he claims that this comes after a provision in his independent contractor agreement with the firm stipulates that the firm will pay its agents within 10 days of receiving funds from a closed deal.

Unfair and fake fees charged?

In an amended complaint filed in April, Braconi claimed the firm had charged him over $75,000 in unfair and fake fees including technology and desk fees. The amended complaint also removed most of the claims of unpaid commissions, but it did include allegations of wrongfully reduced commission splits and withholding over $17,000 in commissions on a closed deal. Additionally, the amended complaint also claimed that the brokerage failed to pay Braconi in a timely fashion and did not provide him with “a complete and comprehensive written explanation” of its alleged delays in payment. 

The brokerage filed a counterclaim against Braconi in March, alleging that he owed the brokerage nearly $40,000 in unpaid fees and that it had actually overpaid Braconi for several months at the end of last year after he reached an annual gross commission income of $1.35 million, which the firm said triggers a reduction in commission splits. The counterclaim also alleges that Braconi violated non-solicitation terms in his contract after he left the brokerage in late 2025. 

The court has rejected Braconi’s request for a temporary restraining order against the firm, which was seeking to freeze the firm’s funds. Oral arguments for the defendants’ motion to dismiss the lawsuit are scheduled to take place this coming Thursday. 

The Agency One Rock did not respond to HousingWire’s request regarding Braconi’s allegations. 

Payment issues have been pervasive, says one industry site

In addition to this lawsuit, The Real Deal published a report last week stating that agents at the firm claim that payment issues at the brokerage have been pervasive for years, with some agents saying they have waited months to be paid for deals. They claim that this violates regulations from New Jersey’s Department of Banking and Insurance that generally require brokers to pay agents within 10 business days of receiving a commission.

Earlier this month, Christie’s International Real Estate terminated its franchise agreement with this New York and Northern New Jersey affiliate. At the time, a spokesperson for the brand told HousingWire in an emailed statement that the “decision was not made lightly.” 

“However, it was ultimately in the best interests of the Christie’s International Real Estate brand and our global affiliate network,” the statement read. “Christie’s International Real Estate remains fully committed to the New York and Northern New Jersey markets, and we look forward to continuing to build and strengthen the brand in these markets.”

In a statement sent on Monday, a spokesperson told HousingWire the decision to terminate the licensing agreement was made in order to “protect the integrity of the Christie’s International Real Estate brand.”

“We recognize that many real estate professionals in New York and New Jersey have built successful businesses under our banner and remain deeply committed to it,” the spokesperson added. “We have tremendous respect for these agents, and we are focused on ensuring they will have a strong platform to continue growing their business with Christie’s International Real Estate in these markets.”

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Dubai’s largest free zone is planting a flag in one of the fastest-growing corners of the global health economy. DMCC, the Dubai Multi Commodities Centre, said on Monday that it has formalised a new DMCC Longevity Centre, with Executive Chairman and CEO Ahmed Bin Sulayem unveiling the move in a post on LinkedIn. The step converts a loose cluster of health businesses already operating inside the zone into a structured, commercially defined sector. It builds directly on Law No. (17) of 2026, issued on Wednesday, June 10, by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which created the Dubai Longevity Authority and elevated health, wellness and longevity to a strategic economic pillar for the emirate.

The raw material was already there. By DMCC’s own count, the zone hosts 308 health-focused companies, 108 of them approved by the Dubai Health Authority, alongside a broad mix of physical and mental wellbeing centres. The free zone has run regular blood drives, partnered with the wellness firm Nook, and backed causes including the Al Jalila Foundation. What it lacked, Bin Sulayem said, was the formal structure to turn that critical mass into a coherent sector that investors and operators could read clearly.

DMCC’s pitch leans on assets most health hubs cannot match. The plan is to fuse the zone’s commodity-trading backbone, its growing artificial-intelligence and gaming ecosystems, and the carefully regulated arrival of peptide science in the region. The stated aim is to draw the world’s leading peptide businesses and health-related AI services, while positioning DMCC as a trusted bridge between East and West. In an op-ed published in Gulf Business, Bin Sulayem framed the longevity push as less about simply living longer and more about building the systems, institutions and communities that sustain human performance at every level.

The scale behind the announcement is significant. DMCC is regularly ranked the world’s number-one free zone and now counts more than 26,000 member companies from 180 countries, employing over 90,000 people across its Jumeirah Lakes Towers district and the newer Uptown Dubai development. Bin Sulayem has led the centre since 2006, expanding it from a small commodities zone into a sprawling business district spanning trade, logistics, finance and digital assets. Layering a regulated longevity vertical onto that base gives the centre an immediate tenant pipeline that most rivals would need years to assemble.

The wider government framework gives the effort regulatory teeth. Under Decree No. (14) of 2026, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, will serve as President of the Dubai Longevity Authority. Helal Saeed Almarri, Director General of the Dubai Department of Economy and Tourism, was named Chairman.

Almarri called longevity and advanced health one of the world’s fastest-growing economic frontiers. He said the authority would offer regulatory certainty across the entire value chain, from research and clinical trials through manufacturing, delivery and patient care. Officials describe what they are building as a sovereign market for advanced therapeutic products, designed to attract investment, industrial capability and specialised talent.

That certainty matters because the underlying market is already moving fast, sometimes ahead of the rules. Peptide therapy clinics have multiplied across Dubai, marketing treatments for recovery, metabolic health and anti-aging, often at prices starting in the high hundreds of dirhams. Much of that activity has run on thin clinical evidence and uneven oversight.

By licensing the full chain, from laboratories to clinics, the new authority is betting that clear standards will pull serious operators and capital into the regulated market rather than the grey one. The Dubai Longevity Authority will coordinate with the Dubai Health Authority, Dubai Health, Dubai Municipality and the Dubai Future Foundation, and says it will hold the sector to international standards.

For Dubai, the economic logic ties directly into the Dubai Economic Agenda D33 and the Dubai Social Agenda 33, which together aim to place the emirate among the world’s top three cities for quality of life. Longevity, wellness and advanced healthcare are treated not as social spending but as an export-grade industry capable of drawing foreign companies, clinical-trial work, manufacturing and high-skill jobs. The emirate has used the same playbook before, standing up dedicated authorities for space, artificial intelligence and virtual assets ahead of most other jurisdictions, then watching companies cluster around the regulatory clarity.

The open questions now are commercial. DMCC will have to prove it can attract genuine peptide and health-AI innovators rather than repackaged wellness brands, and the new authority will have to show its rules can move as quickly as the science. But with a national framework in place, a ready base of 308 companies, and a free zone built to court global capital, Dubai has made its intent unmistakable: it wants to own the business of living longer.

JBizNews Desk

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Sen. Bernie Sanders introduced legislation on Thursday that would hand the federal government a 50% ownership stake in the country’s largest artificial intelligence companies and use the returns to send every American a yearly check of more than $1,000. The Vermont independent’s office said the bill, called the American AI Sovereign Wealth Fund Act, would create a national fund worth an estimated $7 trillion at today’s company valuations.

The idea is straightforward, even if the numbers are enormous. The biggest AI firms — defined in the bill as those earning at least $200 million a year in revenue — would pay a one-time tax equal to 50% of their stock. That stock would be placed into a new government fund instead of being sold off. Each year, the fund would pay out 5% of its value. Divided among the U.S. population, Sanders estimates that works out to a starting payment of more than $1,000 per person.

Money generated beyond the annual checks would be steered toward health care, education and housing, according to a summary released by his office. The fund would not be allowed to sell the stocks it holds, and a separate provision would bar the money from ever being used to bail out an AI company.

Sanders pitched the plan as a way to stop a small group of technology billionaires from controlling a technology he says was built on the work of millions of ordinary people. Left unchecked, he argued, AI and robotics threaten the jobs, privacy and mental health of Americans. He pushed back on the notion that he opposes the technology itself. “I’m not a Luddite,” he told reporters, adding that the goal is to make AI work for regular people rather than for Elon Musk and other billionaires.

To run the fund, the bill would set up an Independent Commission for Democratic AI — seven members nominated by the President and confirmed by the Senate, chosen from a bipartisan list supplied by Congress. The commission would hold voting shares in the AI companies and could use them to block business decisions it considers harmful to the public. The legislation would also force large firms that run both AI and non-AI operations to split those businesses apart, so the public’s stake would sit only in the AI side.

There is one large practical problem, and Sanders acknowledged it directly. Many of the most valuable AI companies, including OpenAI and Anthropic, are not currently profitable, which means the dividends meant to fund those $1,000 checks may not materialize right away. Asked what happens if the companies keep posting losses, he said the public would not be exposed to the downside. The American people will not lose money, he argued, because the government would own the stock outright rather than buying it.

The proposal has already drawn responses from inside the industry. Sanders said he spoke with OpenAI chief executive Sam Altman, who agreed in principle that the public should hold equity in AI companies but would not back a 50% stake. Sanders described the conversation as a good discussion and called Altman a good politician, while insisting the interests of AI companies and everyday Americans are not aligned today. He also complained that the firms can spend heavily to defeat candidates who push for regulation.

The broader concept is not confined to the political left. President Donald Trump said earlier this month that his administration was studying ways for the public to take stakes in AI companies and share in their growth. David Sacks, who stepped down as the White House’s AI and crypto czar in March and now co-chairs the President’s Council of Advisors on Science and Technology, said on a widely followed technology podcast that he opposes Sanders’s specific blueprint but is sympathetic to the underlying goal and could support voluntary versions of public ownership.

Sanders noted that the structure is not new. More than 100 sovereign wealth funds operate around the world — from Norway’s oil fund to Alaska’s, which pays residents an annual dividend — sharing public wealth with ordinary citizens. The principle, he said, is simple: when a public resource creates wealth, the public should share in it.

For now, the bill faces long odds. It has not yet been assigned a number, and Sanders said he has not spoken with the White House about it, though he is talking with other senators and senses growing cross-party concern about AI’s effects. Whether the measure advances or not, it sharpens a debate that is moving from Silicon Valley boardrooms into Congress: who should own the value that AI creates, and who should get paid when it does.

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The affordability of the U.S. housing market may not improve significantly over time for would-be homebuyers, with a new report suggesting that they shouldn’t wait in the hopes of affordability measures returning to their pre-2022 levels.

Sarah Wolfe, a senior economist and strategist at Morgan Stanley, said in a report that while housing affordability could improve modestly over time, it is “unlikely to return to more favorable levels of the past, as the market adjusts to a higher-cost, tighter-supply environment.”

Wolfe noted that there was a brief period of optimism in February when mortgage rates briefly dipped below 6%, but it was short-lived as they returned to around 6.5% and have remained over 6% since then – which sapped the potential momentum for the housing market before it could gather steam.

“That recent episode is telling. In today’s market, small changes in rates have outsized effects on affordability, which remains historically strained, due in part to this rate-sensitivity,” Wolfe wrote.

INCOME NEEDED TO AFFORD A MEDIAN-PRICED HOME HAS NEARLY DOUBLED SINCE 2020, REPORT FINDS

She said that in looking at the housing market from 1990 to 2021, it was less affordable than it currently is about 15% of the time. 

That implies that even modest improvements in the affordability of the current housing market would be considered tight in comparison to prior cycles in the last few decades.

To illustrate the present affordability challenges, an estimate by Morgan Stanley Research found that the buyer of a median-priced home faces a monthly payment of about $2,000 – which is roughly double the carrying cost from five years ago.

MIDWEST AND SOUTHERN STATES DOMINATE HOUSING REPORT CARDS: SEE HOW YOURS SCORED

Homeowners who have lower interest rates on their mortgages have been reluctant to sell and take on a new mortgage with a higher interest rate, which has exacerbated affordability for new buyers.

“The jump in financing costs is also freezing sellers. Of existing homeowners, about 70% have mortgage rates below 5%, and one-half have rates below 4%. These homeowners often find it too costly to move and take on a new mortgage at current higher rates. The result is a collapse in housing turnover to the lowest level in roughly 40 years,” Wolfe said.

Due to the lack of turnover in the market for existing homes, new construction has played an increasingly important role on the supply side of the housing market. The report notes that the pace of price appreciation has slowed in some areas and scarcity has been persistent in others, with supply not improving fast enough to “meaningfully lower the barrier to entry.”

MEDIAN US HOME PRICE PROJECTED TO HIT $1 MILLION BY 2050 – RIGHT AS MILLENNIALS RETIRE

The affordability challenges in the housing market have also contributed to changes in the characteristics of first-time homebuyers. While the average age remains around 36, the average credit score has risen to 734 from 718 in 2019.

First-time homebuyers are also carrying larger mortgage balances, which rose to an average of $334,000 in 2024 – an increase from $240,000 in 2019 and $195,000 in 2014. That growth has outpaced inflation by more than two-fold, the report noted, while buyers have also shifted to more affordable zip codes to buy their first home.

Wolfe went on to say that there could be some modest improvement in housing affordability when rates stabilize and the pace of home price growth eases, with the firm projecting rates will moderate to around 5%, lowering mortgage payments from about 24% of household income to about 21% in the next decade – though that remains above the 15% that followed the 2007-2009 financial crisis.

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“In all of the scenarios that Morgan Stanley Wealth Management modeled – whether mortgage rates settle closer to 4%, 5% or 6% – affordability does not return to prior peaks. And the likelihood of mortgage rates settling closer to 6% than 5% has been rising,” Wolfe wrote. “In short, the market is not broken, but it is resetting to a more constrained equilibrium.”

Wolfe added that “waiting on the sidelines for prices to revert to the affordability of the two decades before 2022 may prove to be the wrong strategy. The better approach may instead be to buy when it makes sense for your financial situation – and when the right opportunity presents itself.”

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What happens when you promise the country that there will be no limits on the IDF’s actions repeatedly and then there repeatedly are limits?

This is the dilemma which Defense Minister Israel Katz has after many prior promises and another promise Monday night.

It happened in June 2025 when he publicly promised that Israel would strike Iran again on a massive scale after the Islamic Republic briefly and without much impact, violated the ceasefire then negotiated by US President Donald Trump.

Trump called back the aircraft that Katz sent to strike Iran, with a small insignificant symbolic strike being allowed.

Katz never explained the turnaround.

Will Israel retreat to satisfy Trump, who seems to wield immense power in its decisions?

Similar incidents happened when Katz promised Israel would keep striking Iran after the April 7 newer Trump ceasefire with Iran.

The defense minister also leaked to many sources that Trump and Tehran were too far apart, so they would never reach a framework agreement – until they did. More recently, Katz has said that the IDF can bomb and attack anything and everything in Lebanon, including in Beirut – except Trump has now said that it cannot, so it has stopped.

The defense minister has said that the IDF will not withdraw from any area that it has taken over in the near future.

And yet leaks pretty much confirm that this promise will also be proved wrong.

Late on Monday, Katz promised by direct video message to the public that the IDF will continue to act everywhere and anywhere it needs to.

But leaks are rampant that on both the northern and southern borders, officially or unofficially, commanders are on edge about when they can use force and when they cannot, and how long they will need to retreat from their current positions.

There is an interesting debate going on in Israel about when and where the country must listen to Trump imposing limits to maintain his support on other critical military, diplomatic, economic, and public relations issues.

When will Katz acknowledge the gap between the promises and the realities as well as the real debates and sacrifices the IDF is making now to preserve Washington’s support?

Prime Minister Benjamin Netanyahu tends to be more careful and qualified in his statements than Katz, but he likely soon will also have to explain to Israelis the hard tradeoffs that are being made (and quite possibly need to be made even if they are bad politics) underneath the perfect sounding slogans.

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There is no question about it: Roman Gofman has taken David Barnea’s Mossad by storm since taking over the spy agency on June 2.

In some ways this is more the rule than the exception.

Meir Dagan (2002-2011), Yossi Cohen (2016-2021), and Barnea (2021-June 2 of this year) all either fired top people in the clandestine agency or developed so many new programs that a bunch of top officials left in protest.

And yet all three Mossad chiefs are by and large seen as successes.

So this means that significant change when a new Mossad director enters office is a virtual certainty.

Gofman’s appointment is a stark symbol of change

Some of the change is style, with each new chief having their own idiosyncrasies about how they prefer to work and what they personally seek to focus on the most.

Other changes have to do with the speed at which the world changes and needing to account for technological and geopolitical developments which create a need to reorganize agency structures and resources.

So what is different about Gofman breaking some of the former chiefs structures and projects, and promoting some new people?

First of all, Gofman is the first outsider to take over the Mossad since Dagan. Meaning from 2011 until now, the last three chiefs, including Tamir Pardo (2011-1016), were all Mossad insiders and more specifically had served as deputy chiefs.

Not only is he an outsider, but there was an unusual High Court of Justice petition to block his appointment, which was supported by Barnea himself, by Attorney-General Gali Baharav-Miara, and by vetting committee head and former chief justice Asher Grunis.

Gofman beat the petition and has the full powers now of the Mossad director, which are considerable.

But that entire process has presented him to the public as a sort of super outsider, and also one who not only owes nothing to his predecessor Barnea, but likely has plenty of motivation to bulldoze anyone in the Mossad who agreed with Barnea’s opposition to Gofman.

This is also how Gofman is presented in a Maariv report on Monday, where it revealed for the first time that he brought in five outsiders to take over and dominate existing internal Mossad officials.

It is possible that Gofman’s approach may be more aggressive in bringing in outsiders to help him alter aspects of the agency’s trajectory, but The Jerusalem Post understands that each of the above former Mossad chiefs also had their own team of outsiders who they consulted when they took charge.

Possibly, there is a difference in that some past chiefs may have advised with their outsiders outside of the physical office space of the Mossad, and Gofman has brought his advisers in. 

Maariv portrays this also as a potential security risk.

But these outside advisors are persons with strong security backgrounds and Gofman would likely say that his approach just shows that he is being transparent about the involvement of his outside advisers.

All of that though has to do with the personalities themselves.

When it comes down to fateful moves, such as how best to topple the regime running the Islamic Republic of Iran, does Gofman see the challenge differently than Barnea did?

Both Gofman and Barnea in their incoming and outgoing speeches over June 1-2 stated that this was their primary goal and that it was achievable.

What was Barnea’s plan?

On June 4, the Post reported that, stunningly, Israel was prepared to provide the Kurds not only with a no fly zone, but with a continuous aerial firepower envelope to help them advance against any Iranian force which would have tried to assemble to block their path forward.

Weapons which the Kurds received both from the US and the Mossad – many of which were “re-tasked” after the IDF captured the weapons from Hamas in Gaza or from Hezbollah in Lebanon, and training they received from Israelis, made them fully ready to go.

There is a debate as to whether US President Donald Trump was convinced to veto the operation more by some of his own top officials or by Turkish President Recep Tayyip Erdogan.

Even within Israel there were officials who doubted that it would work, but Mossad officials close to Barnea said that most of the agencies’ operations require faith, and the knowledge that the spymasters have pulled off a long range of operations which have boggled the imagination.

Israeli sources have accused American officials within the White House, some of whom have called such allegations false, with leaking the plan to Erdogan to help the Turkish president get to Trump in time to stop the operation before it could be rolled out.

The Mossad also had prepared a social media campaign and had already undertaken many actions in conjunction with the IDF to weaken many aspects of the Islamic regime.

Maariv reported on Monday that Gofman views all of these Mossad efforts as having failed and is prepared to transform parts of the agency to take on some new strategies to accomplish the mission.

The Post understands that the Maariv report’s portrayal of Gofman as viewing all of Barnea’s prior work as a failure is oversimplified.

Rather, Gofman may bring new strategies to the table, but may also adopt many existing strategies to marry the mix of ideas together for a global approach to toppling the regime which he is still in the earliest stages of formulating.

To date, foreign reports have mentioned former Iranian president Mahmoud Ahmadinejad as a possible candidate, but no Israeli sources have wanted to discuss the subject, and it is unclear after years out of power whether Ahmadinejad could have led armed regime forces onto the side of the protesters.

While some may want to simplify Gofman as an anti-Barnea because of their public duel before the High Court, the new Mossad chief has moved on from that dispute and would present himself as solely focused on the mission.

He will neither toss out Barnea’s projects where he views them as useful, yet neither will he hold on to any prior project out of any direct sense of loyalty or kinship with Barnea, given that there is none between the two men.  

The Maariv report also seeks to categorize some of the other alterations Gofman may be making in the Mossad’s mission set.

For example, the report stated that Gofman will place a greater emphasis on combating delegitimization.

However, multiple sources have noted that Cohen and Barnea both invested significant resources in combating delegitimization and that Gofman did not think he was reinventing the wheel here, though he may add his own imprint on the efforts.

Further, reports about Gofman canceling existing operations were viewed as exaggerations or building a mountain out of a molehill of a small number of minor issues.

Instead, Gofman’s view is that he is simply carrying out a standard organization-wide review upon entering office, which will eventually include larger changes, and has started with some smaller changes, but not that anything radical has taken place to date.

One sign of this ironically is Gofman’s deputy.

True, Gofman pushed out “A” who Barnea had appointed into the deputy chief role only a few months ago.

But he did not bring an outsider into that role, but rather a different “A” who has also been in the Mossad for around a decade and a half.

Some may object that he was promoted over some who have been around for 5-10 years longer than him, but in the past, Dagan did this with Cohen,

After all of the above, Gofman’s main current wish is to be left out of the media’s crosshairs for a period of months so that he can throw himself into a role which is complex enough on its own, especially as the Trump administration continues to alter the rules of the game.

Still, whether during friendly or less friendly US administrations, the Mossad has always found a way for over 25 years to, whether publicly or covertly, influence key events in Iran, whether it be on the nuclear threat or other issues. 

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