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.

JBizNews Desk
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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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Russia’s central bank cut its main interest rate again on Friday, trimming it by a quarter point to 14.25% — the ninth straight reduction in a year-long campaign to bring borrowing costs down as inflation slowly cools. The Bank of Russia said its board made the move because price growth has edged lower, though Governor Elvira Nabiullina made clear the bank is moving cautiously and is not ready to accelerate the pace of cuts.

To understand why the decision matters, it helps to look back a year. Russia’s benchmark rate reached a punishing 21%, the highest level in more than two decades, as massive government spending tied to the war effort fueled inflation across the economy. Rates that high made borrowing expensive for households and businesses alike, slowing investment and putting pressure on economic growth. Since then, the central bank has gradually eased policy. At 14.25%, borrowing remains costly, but conditions are significantly less restrictive than they were a year ago.

One reason inflation has eased traces back to the conflict involving the United States, Israel and Iran that erupted earlier this year. After military strikes and disruptions around the Strait of Hormuz, a vital shipping route that carries roughly one-fifth of the world’s oil supply, crude prices surged. Brent crude briefly climbed above $100 per barrel, delivering a major boost to energy exporters.

For Russia, one of the world’s largest oil producers, the jump in prices created an unexpected windfall. The value of Russian export oil rose sharply from levels below $40 per barrel late last year to roughly $62 per barrel during the spring. Revenue from Russia’s primary oil tax reportedly doubled to approximately $9 billion in April, providing a significant but temporary boost to government finances.

That surge in export earnings also strengthened the ruble, creating an important side effect. A stronger currency lowers the cost of imported goods, helping reduce inflation pressure throughout the economy. The ruble, which had weakened to around 86 per U.S. dollar during the height of the geopolitical turmoil, later strengthened toward 76 per dollar. Annual inflation has fallen to approximately 5.6%, down substantially from earlier levels, and the central bank believes it can continue moving toward its long-term target of 4%.

Yet the oil story is not entirely positive. While stronger export earnings supported the currency, higher global oil prices also pushed up domestic fuel costs. Rising gasoline prices feed directly into inflation because transportation costs affect nearly every sector of the economy. Nabiullina said fuel costs were among the key reasons policymakers opted for only a modest quarter-point cut rather than a larger reduction.

According to official figures, the average price of gasoline in Russia has climbed approximately 6.6% since January. Central bank officials expect those increases to continue influencing inflation data through the summer, creating uncertainty about how quickly rates can fall from current levels.

Meanwhile, the oil windfall appears to be fading. As global energy prices cooled and the ruble strengthened further, Russia’s oil and gas revenue began retreating from its spring highs. By June, government income from energy exports was on track to fall to its lowest level since early 2023.

That matters because oil and gas taxes continue to provide as much as 30% of Russia’s federal budget revenue, funding everything from social programs to military operations. Finance Minister Anton Siluanov has acknowledged that the temporary boost from higher oil prices did not dramatically improve the government’s overall fiscal position.

The broader challenge facing policymakers is balancing inflation control with economic growth. Wartime spending helped overheat parts of the economy and contributed to the inflation surge the central bank is now trying to contain. At the same time, growth has slowed significantly as high borrowing costs weigh on businesses and consumers.

The Bank of Russia now expects economic growth of only 0.5% to 1% this year, a sharp slowdown from the 4.3% expansion recorded in 2024. While higher interest rates helped cool inflation, they have also restricted lending and investment. Cutting rates too aggressively could reignite price pressures; moving too slowly risks further weakening economic activity.

For now, Nabiullina signaled that additional reductions remain possible if inflation continues to trend lower. However, she cautioned that looser government spending plans could force policymakers to keep rates higher than markets currently expect.

The central bank’s message was clear: the inflation relief tied to this year’s oil-price surge was real, but it may prove temporary. Russia is attempting to lower borrowing costs without reigniting inflation, a difficult balancing act as energy revenues fluctuate and wartime spending continues to reshape the economy.

JBizNews Desk
Moscow Bureau

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

Foreign Minister Gideon Sa’ar emphasized the importance of relations between Israel and Europe on Monday, ahead of a meeting with the European Union Commissioner for the Mediterranean, Dubravka Šuica, at the Foreign Affairs Ministry in Jerusalem.

“I believe in dialogue,” he stated. “We believe in the importance of comprehensive, honest, and open dialogue with the EU. But ‘dialogue’ cannot just be one side dictating its political positions to the other side. Certainly not when it comes to issues at the very heart of our existence.”

Last week, Sa’ar had announced that he was severing all ties with EU Foreign Policy Chief Kaja Kallas, following remarks she made during a recent visit to Mexico, comparing Israel to the racist South African apartheid regime.

“I have no choice but to sever all contact with Ms. Kallas until she retracts the blood libel she directed at the world’s only Jewish state, which is also the only democracy in the Middle East,” his statement said.

Before the meeting with the EU Mediterranean Commissioner, Sa’ar also stated that Israel would like to see US President Donald Trump’s Gaza peace plan advance, but said that Hamas was “delaying.”

“The condition for a different and better future for Gaza – and Israel’s security – remains the disarmament of Hamas and the other terror organizations there, and the demilitarization of the Gaza Strip,” he said.

Palestinian Authority continues inciting violence, Sa’ar accuses

The Palestinian Authority was also not promoting the prospect of peace, Sa’ar stated.

“The Palestinian Authority speaks of reforms – but continues to pay salaries to terrorists. They continue to poison the minds of Palestinian society with endless incitement in its schools, textbooks, mosques, and media. There is, unfortunately, none of the change necessary to build a reliable and different relationship.”

The government, Sa’ar said, would not give up the Jewish people’s right to the land of Israel, including Judea and Samaria.

“No other people in the world has such a strong and documented right to its land as the Jewish people to the Land of Israel,” he explained. “Judea and Samaria is also the minimal strategic depth necessary for our security. No government in the past has accepted an approach that denies our basic right to live in our homeland and sees this as “illegal.” No future government will do so. And this government is no exception.”

Jerusalem Post Staff contributed to this report.

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Is there another round of musical chairs in the IDF General Staff on the way just over the horizon?

There have been three such major rounds since October 7, 2023.

One was less concentrated, but involved the slow but consistent removal of top IDF officials viewed as central to the failure to prevent Hamas’s infiltration and massacre on October 7.

Included in this round was Shlomi Binder, who was promoted from Brig.-Gen. to head the IDF Military Intelligence Directorate, when his predecessor, Maj.-Gen. Aharon Haliva was pushed out of office, and Avi Bluth was promoted from Brig.-Gen. to become the IDF Central Command chief, along with a promotion to Maj.-Gen. 

A second round took place around March and summer 2025, some of whom completed the first round, but some of whom were about IDF Chief of Staff Lt.-Gen. Eyal Zamir putting his stamp on the military when he took over at that point.

Some roles are only taken in hopes of rising higher afterwards

This included Maj.-Gen. Yaniv Asor replacing Maj.-Gen. Yaron Finkelman, as head of the Southern Command and Maj.-Gen. Rafi Milo replacing Maj.-Gen. Ori Gordin as head of the Northern Command.

It also included bringing Maj.-Gen. Tamir Yadai out of recent retirement to return to become the deputy IDF chief after Maj.-Gen. (res.) Amir Baram stepped down from that post and moved to become the Defense Ministry Director-General.

There has also now been a third round of long-standing officials running the air force and the navy stepping down this Spring after the Iran war and after over four years or more with Maj.-Gen. Omer Tischler replacing Maj.-Gen. Tomer Bar as IAF chief and V.-Adm. Eyal Harel replacing V.-Adm. David Sa’ar Salama.

But it is the earlier two rounds of change that set the framework for the next round of races.

Most officials do not relish the position of deputy IDF chief as it involves little public exposure and even less involvement with developing battles on the front.

Essentially, the role is to work on force buildup coordination behind the scenes, in the shadow of the IDF chief.

Generals take on the role usually for around two years, and then hope that their fulfillment of that role will someday lead to them becoming the next IDF chief.

It is rumored that Yadai may seek to bow out of the role sooner than the two-year point.

If he does, or even if he makes it to the two-year point, there is a clock ticking down regarding who will replace him, a race that is viewed again as putting the winner into the running for IDF chief itself.

A shortlist for possible candidates is seemingly emerging

One of the clear frontrunners for deputy IDF chief is Gordin, who was already in the race against Zamir for the top spot, so fulfilling this role would make it even more likely he would later become chief.

Gordin was the head of the Northern Command during the fall 2024 war with Hezbollah, meaning he can take credit for the main thrust, which bludgeoned Hezbollah’s power, including eliminating its three-decade chief, Hassan Nasrallah.

Also, the Northern Command is generally viewed as the most challenging and important field command role, given that Hezbollah and Syria have been viewed as more threatening than Hamas in the South.

Baram was the northern command chief right before Gordin, and most of the recent IDF chiefs – Gabi Ashkenazi (2006-2011), Benny Gantz (2011-2015), Gadi Eisenkot (2015-2019), and Aviv Kohavi (2019-January 2023) – had also been northern command chiefs.

The other frontrunner for deputy chief would be Asor.

Traditionally, he would have had less of a chance, both because the Southern Command has been viewed as less important and especially because his prior role was as IDF Manpower Directorate head, often a dead-end role.

However, the last two IDF chiefs, Herzi Halevi and Zamir, both headed the Southern Command.

Also, Asor is better liked by Defense Minister Israel Katz as he was one of his first appointments and has used more force, asking fewer questions, while in command.

Gordin may be viewed by Katz as more associated with Halevi, whom Katz fought with regularly and helped push out of office.

Asor was also raised in Mivtahim, a village near the Gaza border which was attacked by Hamas, and he has made it clear that fighting Hamas is both a command and personal quest for him.

This means that if Yadai steps down before the October elections or while Katz is otherwise still the defense minister, Asor may have the upper hand.

However, if Yadai stays in office past October, let alone into 2027, Gordin may regain his standing as the lead candidate, depending on who might be the next defense minister. 

Baram is expected to be the lead candidate to replace Zamir in March 2026 or March 2027 because he has already been the deputy IDF chief and the top non-political official in the defense ministry.

But after Baram, Yadai will have a shot, and either Gordin or Asor, whoever replaces Yadai, will also have a strong shot.

The other key piece will be who replaces Binder and when the IDF intelligence chief will step down.

In late 2025, Zamir both defended Binder for his less central role in the October 7 failure, such that he could keep his job, but also criticized him to some extent, stating that he would leave the army after his current role, and not seek further promotion.

The assumption then was that this meant he would leave in August 2027, after three years.

If so, then Bluth may already start the race to replace Binder, though sources close to Bluth deny that he is focused on anything other than his current role.

Yet, it is also possible that Binder may be given a four-year term, as intelligence chiefs are given in normal time periods.

This could make the considerations and candidates for his replacement more complex, as by August 2028, candidates like Operations Directorate Chief Maj.-Gen. Itzik Cohen, who is close to Zamir, might also be eligible (he has only been a major-general since June 2025, so such a promotion might be too fast by August 2027, but could be viewed as viable a year later.)

Regardless of who wins these various races, the musical chairs game, which will make up many of the future key posts in the IDF, is on.

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A joint statement released by the mediating countries, Qatar and Pakistan, announced the creation of a Lebanon deconfliction mechanism on Monday.

According to the mediators, this entails a direct US-Iranian track to terminate military operations in Lebanon and appears to include the Lebanese government but not Israel.

It also appears to exclude France and the United Nations Interim Force in Lebanon (UNIFIL), which had previously been involved in peacekeeping in Lebanon.

The mediators did not explain how that would operate or resolve the current hostilities between Israel and Hezbollah.

Iran’s Foreign Minister, Abbas Araghchi, lauded the new mechanism, calling it “major progress to end Lebanon War,” and saying that the first real test was the “Lebanon deconfliction cell.”

Israel pushes back on Lebanon deconfliction mechanism

Addressing the Jerusalem News Syndicate (JNS) Conference in Jerusalem on Monday, President Isaac Herzog said any negotiations to end the Israel-Lebanon conflict should be done by the two countries themselves and not by “Iranian extortion.” 

“Tying Iran to Lebanon not only leaves Israel exposed to constant threat; it leaves the Lebanese weak and powerless, and will prevent their president and government from moving forward,” said Herzog.

Prime Minister Benjamin Netanyahu said on Monday that the IDF retains freedom of action to act against threats in Lebanon.

“My directive and that of the Minister of Defense to the IDF is clear and has not changed,” said Netanyahu. “Our fighters in southern Lebanon have full freedom of action to thwart any direct or emerging threat to them or to the residents of the North.

“The IDF has no restrictions in this regard,” he added. “I stand behind them; the entire nation stands behind them.”

Shir Perets contributed to this report.

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Clive Davis, a Jewish former corporate lawyer who became one of the most influential figures in American rock and pop music as he fostered the careers of Bob Dylan, Whitney Houston, Bruce Springsteen, and other stars, died on Monday at the age of 94, The New York Times reported, citing his family.

Davis, who was known as “the man with the golden ear” for his ability to identify potential hit songs, died at his home in Manhattan, the Daily reported, having recently been hospitalized with respiratory problems.

As an incomparable hitmaker, Davis was highly adaptable, spanning genres and generations, even as he hit his 80s. For every Janis Joplin he discovered in 1960s rock, there was a Sean “P. Diddy” Combs he mentored in hip-hop in the 1990s and a Kelly Clarkson he guided in pop in the 2000s.

Davis won four Grammys for producing works by Clarkson, Carlos Santana, and Jennifer Hudson, and a fifth for his contributions to music. He could even revive careers, as he did for Santana with an album that won 9 Grammys in 2000, and he fostered comebacks by Rod Stewart, Aretha Franklin, and Dionne Warwick.

Davis was born in the New York borough of Brooklyn on April 4, 1932. As a boy, he said he listened to the radio but had no overwhelming affinity for music and did not even collect records like his friends.

After graduating from New York University and Harvard Law School, Davis worked at private law firms before joining the legal department at Columbia Records, a CBS subsidiary, in the early 1960s. He made his first mark there by putting together a case that kept Dylan at the label when his handlers had tried to void his contract.

In 1966, Davis was named head of the record label, which until then had largely ignored the burgeoning rock-oriented market, with only a few acts such as Dylan, Simon and Garfunkel, and the Byrds aimed at the youth audience.

‘Talent attracts talent’

In his new position, Davis helped change the sound of American music. Record producer Lou Adler took Davis to the Monterey Pop Festival in California in 1967, which Davis would come to consider “the creative turning point in my life.” Mesmerized by Joplin’s performance at the festival, he signed her and her band, Big Brother and the Holding Company.

In the following years, he would build the Columbia roster by signing Chicago, Aerosmith, Pink Floyd, Blood, Sweat and Tears, Springsteen, Santana, Billy Joel, Sly and the Family Stone, and Boz Scaggs – all of whom became superstar acts.

Davis was a hands-on executive, taking a major role in marketing Columbia’s performers, working as a studio producer, and providing input on song selection. When he suggested that Springsteen’s “Greetings From Asbury Park, N.J.” album needed a radio hit, Springsteen came up with “Spirit in the Night” and “Blinded by the Light,” which would become staples of his act.

“Talent comes to me because they believe I’ve established a creative haven in which they can flourish,” Davis said in an interview with Newsweek. “And talent attracts talent.”

Davis enjoyed the attention his success brought and conceded it inflated his ego. According to a running joke in the music world, Davis thought CDs were named after his initials.

By 1973, CBS’s record division was on the verge of scandal amid its success. According to the book Hit Men: Power Brokers and Fast Money Inside the Music Business, there were reports of prostitutes at company meetings, payoffs to get records played on the radio, and a Davis underling who was linked to fraud with a heroin smuggler. Davis was under scrutiny for using corporate funds to pay for his son’s bar mitzvah.

CBS eventually fired Davis that year and filed a $94,000 expense-account-related suit that would be settled out of court. Davis later pleaded guilty to failure to pay taxes on job-related expenses and was fined $10,000.

Birth of Arista

Davis was not down for long. By 1974, he found backing for his own record label, which he named Arista. Among the first signees was Barry Manilow, who gave Davis a string of hits.

At Arista, Davis specialized in reviving acts such as Franklin, Warwick, Lou Reed, and the Kinks that had faded after initial success, returning them to stardom. The revived acts and new talent brought in great revenues, Grammys, and stacks of gold records for Arista.

Not all of his moves were profit-driven. He signed Patti Smith, known as the godmother of punk rock, even though her commercial appeal was limited.

“I really felt Clive, whatever his mainstream reputation… does love artists,” Smith, who inducted Davis into the Rock and Roll Hall of Fame in 2000, told the Associated Press.

Davis’ best move at Arista was discovering a teenage Whitney Houston in 1983 and guiding her career to record-breaking heights with a string of No. 1 hits. He took a hands-on producer role with Houston’s “I Will Always Love You” – from her movie with Kevin Costner, The Bodyguard. It set a record by holding the No. 1 spot on the charts for 14 weeks and becoming one of the biggest-selling commercial singles of all time.

‘It rips your heart out’

Davis and Houston grew close personally, and Houston thought of Davis as family. Her decline due to drug abuse and her overdose death in 2012 were crushing for him.

“It rips your heart out, is what it does,” Davis told CNN in a 2013 interview. “We knew there was no one like her, and it is very, very painful that this tragic, tragic talent so prematurely came to an early demise, really.”

Davis also signed saxophonist Kenny G, who became one of music’s best-selling instrumentalists at Arista, and branched out by starting a Nashville subsidiary that became home to country stars Alan Jackson, Brooks & Dunn, and Brad Paisley.

Also at Arista, Davis helped proteges LA Reid and Kenneth “Babyface” Edmonds set up a label that featured star R&B acts such as Usher, TLC, and Outkast, and brought in future music mogul Combs as a partner on a rap label.

Despite his roaring success, in 2000, Arista’s parent company, BMG Entertainment, ousted Davis, who was undeterred and started J Records. His biggest successes at J were with Alicia Keys, Luther Vandross, and the “American Songbook” series of 1930s and 1940s pop standards that revived Stewart’s career.

J Records ceased to exist after a series of corporate mergers, and in 2008, Davis was named chief creative officer of Sony Music Entertainment.

In his 2013 memoir, The Soundtrack of My Life, Davis, who was married and divorced twice and had four children, revealed that he was bisexual. He said he had a 13-year relationship with a male doctor and, at the time, was in a long-term relationship with another man.

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The Tel Aviv-Jaffa District Court, sitting as an Administrative Affairs Court, on Monday deleted a petition seeking to force Ramat Hasharon to enforce its Shabbat business-closure bylaw at BIG Fashion Glilot, after the city and Mayor Yitzhak Rochberger said they would do so.

Judge Gilad Hess said the municipality had changed its position during the case. It initially argued that the 1967 bylaw no longer suited the city or the commercial complex, whereas it now accepts that the law remains in force and says it has adopted an enforcement policy.

That change is why the court deleted the current petition: because the city no longer claimed it could simply avoid enforcing the bylaw, Hess said the petition’s central aim had been met.

But the ruling does not mean BIG Glilot has been ordered to close on Shabbat, nor did Hess decide whether Ramat Hasharon’s new policy will actually lead to meaningful enforcement. Indeed, the petitioners may return to court if they believe it does not.

The petition was filed in May 2025 by Boris Cohen and the Hapoel Mizrachi organization against Rochberger, the municipality, BIG Shopping Centers, and businesses at the complex.

City initially said bylaw was outdated, then agreed to enforce it

It grew out of a dispute that had become a wider Shabbat flashpoint. The complex’s Saturday openings drew calls for a boycott from haredi groups, while supporters of Saturday commerce argued that residents of a largely secular area should be free to shop and spend time there on their weekend.

The conflict intensified after Ramat Hasharon’s legal adviser said that the existing bylaw did not permit businesses to operate on Shabbat and that the city was required to enforce it. Rochberger, meanwhile, argued that the decades-old law did not reflect the city’s present-day character or the reality around BIG Glilot.

The city began pursuing an amended bylaw that would allow broader Shabbat commerce in certain areas, but it has not received the required approval. Until that changes, the existing bylaw remains the law the municipality must enforce.

Cohen and Hapoel Mizrachi argued that the city had effectively chosen not to enforce that law, and asked the court to require action that would stop businesses from opening on Shabbat.

After the petition was filed, Ramat Hasharon said it would prepare an enforcement policy and begin acting under the existing bylaw. Its policy, published in March, provides for enforcement based on complaints and the availability of inspectors, while giving priority to urgent safety and public-order matters.

The petitioners argued that this was not real enforcement and would allow Saturday trading to continue much as before. Hess agreed with them on one basic point: a municipality cannot ignore a bylaw requiring businesses to close on days of rest.

Still, he said there was not yet enough evidence to determine whether Ramat Hasharon’s approach was effective or merely symbolic. The policy had been in place for only about three months, and the current petition had not directly challenged its final version.

Hess said the court therefore could not assess how the policy was being used in practice, and stressed that deleting the petition did not release the city from its duty to enforce the bylaw.

“On the contrary,” Hess wrote, the judgment gives force to the mayor’s commitment that the municipality will continue enforcing the law under its policy.

The judge ordered Ramat Hasharon to pay the petitioners NIS 5,000 in costs and ordered BIG Shopping Centers to pay a further NIS 5,000.

The petitioners said the ruling reflected the city’s reversal and Rochberger’s commitment in court to enforce the bylaw. Attorneys representing business owners at the complex said the deletion of the petition preserved the existing balance while protecting Ramat Hasharon’s pluralistic and liberal character.

Rochberger welcomed the decision, saying Ramat Hasharon would remain “pluralistic, with freedom of religion and freedom from religion,” and that the city would continue to follow its enforcement policy. The Interior Ministry also welcomed the ruling, saying the existing bylaw remains binding until any new arrangement is approved.

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For more than a decade, housing industry policymakers, researchers and other stakeholders have worked to address a persistent housing shortage in the U.S. Still, new demographic and market trends suggest the housing landscape may look markedly different in the years ahead, according to a new Mortgage Bankers Association (MBA) white paper released Monday.

The paper, “Implications of a Persistent Slowing in Housing Demand,” examines how shifts in population dynamics, construction trends and affordability pressures are reshaping the balance between housing supply and demand.

“Over the past several years, growth in housing demand has slowed as new housing supply has entered the market in many regions,” said Mike Fratantoni, MBA‘s senior vice president and chief economist who co-authored the paper.

“While affordability challenges remain significant, MBA’s research highlights the importance of looking beyond today’s market conditions to understand the long-term forces shaping housing demand. These findings can help industry participants and policymakers better prepare for future changes in housing and mortgage market dynamics.”

Along with Fratantoni, the report is authored by Joel Kan, MBA’s vice president and deputy chief economist; Judie Ricks, MBA’s associate vice president of commercial real estate research; and Edward Seiler, MBA’s associate vice president of housing economics and executive director of the Research Institute for Housing America.

The paper found that after the financial crisis of the late 2000s, strong millennial household formation drove housing demand that outpaced new construction. This contributed to rising home prices and rents, pushing up estimates of a national housing shortfall that range from 1.5 million to 7.3 million units.

During the COVID-19 pandemic, historically low mortgage rates further accelerated demand, pushing home prices and rents higher even as builders ramped up construction, particularly in multifamily housing and in markets in the South and West.

By 2025, the report stated, conditions began to rebalance as demand cooled and newly built housing came to market. Vacancy rates increased, rent growth slowed and for-sale inventory expanded, especially in Sun Belt markets.

The paper also notes that housing affordability, while still strained in many areas, has recently improved as income growth has outpaced gains in home prices and rents.

Looking ahead, MBA researchers warn that demographic trends — including an aging population, lower fertility rates, smaller younger adult cohorts and reduced immigration — are likely to slow household formation over the next decade.

At the same time, housing supply is expected to rise gradually as aging baby boomers transfer homes to younger generations.

If construction remains elevated while household formation slows, the report cautions that supply growth could outpace demand in some markets, putting downward pressure on home prices.

The findings also carry implications for the mortgage industry, including potential effects on origination volumes, borrower equity accumulation and overall credit performance.

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

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SHERMAN, TexasJensen Huang, the chief executive of Nvidia, said in an interview Tuesday that society has little choice but to adapt as artificial intelligence spreads, and that people should lean into the technology rather than fear it.

“We need to create new social norms,” Huang said, offering a direct piece of advice to the public. “I would advocate that everybody use AI. Just go engage it.”

Huang, whose chips helped power the current AI boom, has become one of the technology industry’s most visible advocates. He argues that broader adoption of artificial intelligence can accelerate economic growth, drive scientific breakthroughs, and improve everyday life. But as the head of a company now valued at roughly $5 trillion, he is also confronting growing public concern about the technology’s long-term consequences.

Those concerns formed the backdrop to his comments. Across the country, AI has become a political and economic flashpoint. Communities are pushing back against new data centers, workers worry about job displacement, and critics warn that rapid adoption could move faster than society’s ability to adapt.

Huang said he feels an obligation to respond to those fears, including warnings that AI could eliminate large numbers of jobs or even pose broader threats to humanity.

His argument is that society has successfully adapted to disruptive technologies before and will do so again. He compared artificial intelligence to the arrival of the automobile, which initially created widespread safety concerns.

“When I was growing up, I used to play in the streets,” Huang said. “When cars came along, you obviously can’t play in the streets now.”

Instead of abandoning automobiles, society developed traffic laws, sidewalks, crosswalks, driver’s education, and other safety measures. The technology remained, but people learned how to live with it.

Huang believes AI will follow a similar path.

He also made a practical case aimed at everyday Americans. Today’s AI tools can help build websites, analyze complicated documents, conduct research, summarize information, write software code, create marketing materials, and even assist with home renovation projects. According to Huang, these capabilities are helping narrow the technology gap by giving ordinary people access to skills and expertise that once required specialists.

The message is especially relevant for small-business owners. AI tools are increasingly being used to draft proposals, answer customer inquiries, manage marketing campaigns, analyze financial information, and automate repetitive administrative tasks. For many entrepreneurs, AI is becoming less of a futuristic concept and more of a daily business tool.

The economic stakes behind Huang’s message are enormous.

Nvidia’s rise has been fueled almost entirely by demand for the advanced chips that train and operate artificial intelligence systems. At the same time, major AI developers such as OpenAI and Anthropic could each eventually reach $1 trillion valuations once publicly traded, according to reporting cited in the interview.

That concentration of wealth among a relatively small group of AI companies has intensified concerns about economic inequality and whether the benefits of artificial intelligence will be broadly shared.

The issue has also reached Washington.

President Donald Trump has previously attempted to calm concerns about AI’s economic impact and has publicly floated ideas about whether the federal government should take ownership stakes in certain AI companies. Huang expressed skepticism that government ownership would solve the underlying challenges, reflecting the industry’s broader reluctance toward direct government involvement.

For workers and employers, however, the biggest question remains what happens during the transition.

While Huang argues that society will adapt, many economists and labor experts point out that adaptation takes time. Workers whose jobs are transformed or eliminated may require retraining, new skills, and support systems before they can benefit from emerging opportunities.

The automobile comparison works because society eventually built the infrastructure needed to support it. Critics argue that the modern equivalents — workforce training, educational programs, ethical guidelines, and clear rules governing AI in the workplace — are still under development.

That uncertainty helps explain why public opinion remains divided even as adoption accelerates.

Yet despite those concerns, AI is already reshaping industries across the economy. Businesses are integrating the technology into customer service, software development, marketing, logistics, finance, health care, and research. The debate increasingly centers not on whether AI will be adopted, but how quickly and under what safeguards.

Huang’s bet is that artificial intelligence will ultimately follow the path of previous transformative technologies such as electricity, automobiles, and the internet — disruptive at first, but eventually woven into everyday life.

Whether the new social norms and protections he believes are necessary arrive quickly enough remains an open question.

For now, the man at the center of the AI revolution is delivering a simple message: engage with the technology, learn how it works, and prepare for a future in which AI becomes a routine part of daily life.

Sherman, Texas – JBizNews Desk

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TOKYO — A semiconductor plant in Japan, part of a national push to expand domestic chip and technology production.

Japan is preparing to set a target of roughly $2.3 trillion in combined public and private investment by 2040, according to a report Friday by the business daily Nikkei. The plan would form the centerpiece of a new growth strategy under Prime Minister Sanae Takaichi.

The initiative, valued at about 370 trillion yen, would span 17 strategic sectors, with a heavy focus on artificial intelligence, semiconductors, and space development. Nikkei reported the strategy could be unveiled as early as next week. The prime minister’s office did not comment, so the figures are not yet official.

The core idea is to use government money to pull in far larger sums of private capital. Rather than fund everything directly, Tokyo wants public spending to lower the risk on big, long-horizon projects so companies invest alongside the state.

To keep that money flowing reliably, the government is weighing a multi-year budget framework for projects it considers vital to economic security. Some of the spending could be financed through so-called bridging bonds — government debt used to cover costs until other funding arrives.

The targets reflect Japan’s drive to stay competitive in the industries expected to define the next two decades. The global race in artificial intelligence and advanced chips has become a contest between national governments as much as companies, with the United States, China, and others pouring public money into the same fields. Japan is signaling it does not intend to be left behind.

The plan also speaks to a deeper challenge: Japan’s shrinking and aging population. With fewer workers entering the labor force each year, the country is leaning on automation, AI, and high-value manufacturing to sustain growth a larger workforce once provided.

For businesses, the scale of the target points to years of potential contracts in chipmaking, AI infrastructure, and space technology. Japanese firms in construction, engineering, and technology stand to benefit most directly, but the plan could also draw in foreign partners. U.S. and other international companies frequently team up with Japanese firms on high-tech projects, and a pipeline this large would create fresh openings.

For Japanese workers and consumers, the promise is modernized infrastructure, more reliable energy, stronger digital services, and new jobs in priority industries — gains that depend on the target translating into real projects, which will take years.

There are reasons for caution. Headline figures of this size are long-term ambitions, not money already committed. Much will hinge on whether the government can lay out clear project pipelines and offer returns attractive enough to draw private investors off the sidelines. Until the strategy is formally released and detailed, the $2.3 trillion number is a goal, not a guarantee.

The public-private model is a deliberate bet. By sharing risk between government and industry, Japan hopes to unlock spending neither side would take on alone. Other major economies have used the same approach to push into capital-heavy fields like semiconductors and clean energy, where upfront costs are enormous and payoffs can take years.

What happens next is the formal rollout. If the strategy is published in the coming days as reported, attention will turn to which sectors get priority, how the funding mechanisms are structured, and how quickly the first projects begin. Investors and companies will watch for concrete commitments behind the headline figure.

The bigger picture is that Japan, long known for caution on spending, is signaling a willingness to commit serious public resources to secure its place in the technologies of the future. Whether the $2.3 trillion target becomes reality will depend on execution — but the ambition itself marks a notable shift for the world’s fourth-largest economy.

JBizNews Desk | New York
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WASHINGTON — Federal health officials announced a pilot program Monday to speed up early-stage clinical trials, which they say will reduce development timelines by six to 12 months, in hopes of encouraging U.S.-based trials and combating Chinese dominance in the field.

The pilot comes as the Food and Drug Administration, through the president’s 2027 fiscal budget, asks Congress to establish a permanent, faster process for the existing Investigational New Drug pathway. That proposal was championed by former FDA Commissioner Marty Makary before he resigned last month, though officials said on a Monday morning call that this program had been in the works even before Makary.

In a Fox News op-ed, health secretary Robert F. Kennedy Jr. wrote that the U.S. is “losing ground” against China in clinical research and touted the actions as a way to reverse that trend.

Continue to STAT+ to read the full story…

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At last month’s Reverse Mastermind Summit in Knoxville, Tennessee, I had the opportunity to speak about one of the most important challenges facing our profession: the public perception of reverse mortgages and the industry that serves older homeowners.

My message was intentionally optimistic. Yes, we have a perception problem, but perception is not permanent. It changes when professionals consistently demonstrate competence, transparency and integrity.

Changing the narrative

The first step is surprisingly simple: tell better stories. Every reverse mortgage represents a homeowner who gained financial flexibility, remained independent, eliminated a burdensome mortgage payment or moved closer to family. Yet the industry rarely celebrates these successes. Instead, misinformation fills the void. We should be proud of the lives we improve and share those stories responsibly.

The industry must also be willing to hold itself accountable. Misleading advertisements that promise “free money” or imply that borrowers never repay the loan may generate short-term leads, but they damage long-term credibility. Public trust is built when professionals explain both the benefits and the responsibilities of a Home Equity Conversion Mortgage (HECM) with equal measures of honesty.

Education is equally important. Too many originators rely on proposal packages and disclosures to explain the product, even though those documents were designed for compliance rather than understanding. Reverse mortgages should be explained through conversations, illustrations and thoughtful planning, not by handing borrowers a stack of paperwork.

Improved perception also requires investing in the future. The industry needs younger loan originators, better training programs and experienced professionals willing to mentor the next generation. Reverse mortgages are no longer products of last resort — they are sophisticated retirement planning tools that deserve knowledgeable advocates.

Maybe most importantly, we must have honest conversations. Sometimes the right advice is a reverse mortgage. Sometimes it is downsizing, restructuring finances or exploring another solution entirely. Clients remember professionals who solve problems, not those who simply sell products.

Educate before you persuade

The industry should also confidently challenge misinformation while speaking truthfully about competing products. A reverse mortgage should never be positioned as the only answer, but it should be presented as one of the safest and most flexible ways for many older homeowners to access their housing wealth.

Compared with products that require monthly payments, can freeze credit lines or expose retirees to unnecessary risk, the HECM often provides protections that are unmatched in retirement finance.

Finally, public perception improves when professionals genuinely believe in the product themselves. If you have never studied how a reverse mortgage could fit into your own retirement plan, it is difficult to speak with authentic conviction. Confidence comes from understanding, and understanding creates trust.

The reverse mortgage industry does not need a better marketing slogan. It needs thousands of professionals who educate before they persuade, tell real success stories, reject deceptive practices and put the long-term interests of homeowners first.

If each of us commits to doing just one of those things better this year, we will improve public perception and improve the lives of the families we serve.

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In the first half of this two-part topic, I described the piecemeal nature of private hazard insurance policies, state-sponsored “last resort” programs, the National Flood Insurance Program, and federal aid through emergency declarations. This system is reactive, slow and difficult to navigate for families and businesses seeking help to recover from catastrophic events.

Beyond systemic gaps, households and businesses face swiftly rising insurance costs, and some cannot secure coverage at any price.

National surveys of homebuilders and resale agents confirm that concerns about the availability and cost of hazard insurance deter at least some buyers from purchasing homes.

Envisioning a new path: a national insurance umbrella

The escalating frequency, severity and geographic spread of disaster-driven losses in the U.S. require a bolder, more holistic approach. I’m not an insurance expert, yet my research uncovered a handful of multinational pooled-risk programs that have provided hazard coverage for 10-plus years. These successful programs share characteristics that should be incorporated into a new U.S. program:

Central Leadership:

I propose creating a government-sponsored entity (GSE) with a mandate to maintain access to hazard insurance at a reasonable cost. A steady supply of competitively priced hazard insurance will keep policy costs more affordable for families and businesses. This approach parallels the roles of Fannie Mae and Freddie Mac, which operate under mandates to ensure liquidity in mortgage capital, enabling lenders to provide mortgages. They indirectly influence the 30-year mortgage rate by supporting a competitive supply.

National Risk Pool:

A larger, geographically diverse risk pool statistically improves long-term predictability (known as the law of large numbers) and reduces the financial costs of risk for individual households and businesses.

Single, inclusive policies:

The national risk pool should cover the full range of disasters, eliminating the need for separate flood policies. According to Flood Smart, 99% of U.S. counties have experienced flooding since 1996, yet only 4% of homeowners carry flood insurance. A single policy will eliminate coverage gaps and disputes over which policy must pay for damage.

Proactive planning and recovery:

Analyzing the types, frequency, and severity of disasters by region or state supports planning for initial relief, recovery, reconstruction, and mitigation plans.

Metric-driven payouts:

Successful international programs release relief and recovery funds based on observable, measurable events, such as centimeters of rainfall, wind speeds, earthquake magnitudes, and named tropical storms. These predetermined and documented payout events translate to fast release of funds, without delays for insurance inspections or appraisals.

Mitigation incentives:

International pooled risk organizations have provided funding for housing improvements, livestock and seeds to supplement traditional crops, as well as for drainage in flood-prone areas. In the U.S., the Federal Emergency Management Agency (FEMA) offers grants for mitigation planning and activities that reduce the likelihood of flood damage. In March 2026, FEMA announced $1 billion in funding for mitigation focused on major infrastructure projects that support resilience and the adoption of hazard-resistant building codes.

Three international pooled risk programs demonstrate the benefits.

I researched three multinational consortia that help manage risk for 17 to 43 member countries. Participating governments purchase natural disaster coverage at a substantially lower price than they would without risk pooling. They set the event thresholds that trigger payments and the maximum payout, both of which affect policy costs.

Applying this approach to a single country should be easier, with risk pooling across all U.S. states and territories and the integration of flood risks into a cohesive hazard insurance program.

The three pooled risk programs described below rely on predetermined criteria to classify disasters. Global Information Systems (GIS), satellite monitoring, and remote sensors enable insurers to gather precise data on risks and disasters when structuring their programs. The monitoring also confirms events that trigger payouts, in contrast to the more subjective emergency-declaration process in the U.S.

  • The Caribbean Catastrophe Risk Insurance Facility’s members include 19 Caribbean and 4 Central American governments, along with 11 utility companies. The facility was launched in 2007, with leadership from the World Bank and support from grants and contributions from larger countries. CCRIF provides parametric insurance to its members against cyclones, earthquakes, and excess rainfall. Read about CCRIF
  • The African Risk Capacity (ARC) formed in 2012 includes the governments of 43 member countries, along with international organizations and the private sector. Drought leading to famine is a major concern, so funds are released when rainfall totals fall below predetermined thresholds. Funds can also be released to recover from weather-related and other disasters, fight epidemics, and improve local risk management by encouraging advance preparation. Read about ARC
  • The Pacific Catastrophic Risk Insurance Company (PCRIC) pools premiums from 17 Pacific Island countries to respond to climate, weather, and seismic events. Launched in 2016 under the World Bank’s leadership, with initial contributions from Germany, Japan, the United Kingdom, Canada, and the United States. Some participating countries are more vulnerable to drought, while others face tropical storm risks. Payments triggered by measurable parameters support timely responses and encourage sustainable development and recovery work. Watch a PCRIC video

What it it will take for change to happen

Implementing material changes to the fragmented U.S. hazard insurance and disaster recovery system will require strong leadership.

We can expect resistance from insurance companies that don’t want to answer to a new GSE. However, they will benefit from more predictable premium income and loss payouts across a national risk pool, supported by timely and accurate metrics from real-time satellite and sensor monitoring.

Some individuals and companies will argue that they don’t want to pay for weather, climate, or seismic risks elsewhere in the country.

However, no part of our country is immune to increasingly costly disasters, and the largest possible risk pool improves predictability and lowers recovery costs for everyone.

If you pay federal taxes and buy hazard insurance, you are already subsidizing the recovery of other households and businesses in the U.S.

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A federal appeals court on Friday blocked the Trump administration from immediately moving forward with plans to cut roughly two-thirds of the workforce at the Consumer Financial Protection Bureau (CFPB), marking the latest setback for the government in a legal battle over the agency’s future.

The U.S. Court of Appeals for the District of Columbia Circuit denied a request by the Department of Justice (DOJ) to allow layoffs to proceed while litigation continues over CFPB acting director Russell Vought’s efforts to dramatically reduce the agency’s staffing levels.

Instead, the court sent the case back to U.S. District Judge Amy Berman Jackson to determine whether a preliminary injunction issued last year should be modified in light of the CFPB’s revised reduction-in-force plan and other developments. The appeals court also rejected the administration’s request to require Jackson to rule within 45 days.

The ruling leaves in place an injunction that has temporarily blocked large-scale CFPB layoffs while courts consider whether the agency can be significantly downsized without violating its statutory obligations.

The dispute stems from the Trump administration’s efforts to reshape the CFPB, which was created by Congress after the 2008 financial crisis to oversee consumer financial products and services.

Vought, who was named acting CFPB director in February 2025, has argued the bureau can meet its legal responsibilities with a smaller workforce, while employee groups and consumer advocates say the cuts would effectively dismantle the agency.

Shortly after taking the position, Vought moved to suspend most CFPB operations, closed its headquarters and said he would halt agency funding. In April 2025, the administration moved to dismiss roughly 90% of the workforce, prompting a court challenge that temporarily blocked the layoffs.

In August 2025, a federal appeals court panel allowed the reductions to proceed, resulting in about 1,500 dismissals.

The appeals court did not rule on the legality of the CFPB’s revised workforce reduction plan. Instead, it directed Jackson to consider the new proposal before the full appeals court continues its review of the case.

The D.C. Circuit retained jurisdiction over the appeal and instructed the parties to report back after the district court issues its decision.

U.S. Sen. Elizabeth Warren (D-Mass.), a ranking member of the Senate Banking, Housing and Urban Affairs Committee, issued a statement on Saturday in reaction to the decision.

“Last night, the D.C. Circuit rejected the Trump Administration’s latest request to shut down the Consumer Financial Protection Bureau, refusing to lift the injunction that has prevented Russ Vought from carrying out his plan to eliminate the agency,” Warren’s statement said. “Courts will also have a full chance to review Vought’s most recent unlawful plan to sideline the CFPB by firing most of its remaining staff.”

“We’ll keep fighting for the agency that has returned more than $21 billion directly to Americans who were cheated or scammed by big banks and giant corporations,” Warren added.

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Two women, a mother and daughter, were acquitted by a jury in only 28 minutes after being filmed chanting a slogan referring to the killing of Jews at a protest in London, soon after October 7, 2023.

Fatiah Boumazouna, 55, and Hadjer Boumazouna, 28, had been arrested after the protest took place on October 28, where they had chanted “Khaybar Khaybar Ya Yahud Jaish Muhammad, sa yahud” (“Khaybar Khaybar, oh Jews, the armies of Muhammed are coming”)referring to a historical battle in which Jews were slaughtered by Muhammed’s forces in the early years of Islam.

The two handed themselves in to the police the day after the protest, stating that they were unaware that the chant was one of racial or religious hatred, and apologizing for the offense caused.

“It is very disappointing that this case did not result in a conviction, but we hope this outcome will not dissuade the Crown Prosecution Service (CPS) from continuing to prosecute cases of people allegedly inciting antisemitic hatred wherever possible,” a spokesperson for Community Security Trust (CST) stated.

A spokesperson for Campaign Against Antisemitism said that it was the second time that the attempted prosecution of people who had chanted the Khaybar chant had failed. “The chant is unmistakably threatening to Jewish people,” they stated, “But a jury apparently somehow disagreed. Nothing, it seems, can possibly be construed as being threatening to Jewish people if it means someone might be held to account. Another miscarriage of justice that will do nothing to reassure British Jews that the system is up to the job of protecting them and deterring haters.”

“Chants of ‘Khaybar, Khaybar, ya yahud’ are among the clearest examples of incitement against Jewish people heard at regular anti-Israel demonstrations,” a spokesperson for the Jewish Leadership Council stated. “This slogan cannot credibly be misconstrued as a legitimate political slogan against the State of Israel. Rather, it is a direct expression of racial and religious hatred towards Jews.

“Such chanting should be met with the full force of the law. The police and CPS must not allow a disappointing failed prosecution to deter them from taking robust action to protect British Jews.”

ADL explains problems behind Khaybar chant

 The Anti-Defamation League (ADL) describes the invoking of the Khaybar chant at an anti-Israel protest as something which “problematically shifts the complex Israeli-Palestinian conflict into a religious battle between Islam and Judaism.

“Moreover,” it adds in its description of the chant, “in celebrating a past military defeat of Jews, this chant can be perceived as a threat of armed violence or forcible expulsion against Jews today.”

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US Secretary of State Marco Rubio will travel, Tuesday through Thursday, to the United Arab Emirates, Kuwait, and Bahrain, on a trip that will give the Trump administration a chance to sell its preliminary Iran accord directly to Gulf Arab allies.

While in Bahrain, Rubio will also meet with the Gulf Cooperation Council, or GCC, a grouping of six Sunni monarchies that also includes Saudi Arabia, Qatar, and Oman, State Department spokesperson Tommy Pigott said on Monday.

While GCC leaders have broadly supported efforts to end the US-Israeli war with Iran, many are disconcerted by the specific terms of the memorandum of understanding that US President Donald Trump signed last week.

One point of particular concern among regional officials is the possibility of a $300 billion reconstruction fund for Tehran, which Gulf leaders assume the Islamic Republic will use to rebuild its military capacity, while funding regional proxy groups. The MoU’s failure to address Iran’s ballistic missile program is also worrying Washington’s Gulf allies, who have been buffeted by Iranian missile and drone attacks in recent months.

The UAE, Saudi Arabia, Kuwait, Bahrain, and Qatar 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.

60-day clock on US-Iran talks begins

The Rubio trip comes amid a broader flurry of Iran-related diplomacy. On Wednesday, Trump signed the Iran MoU, which starts a 60-day clock for Washington and Tehran to reach a more comprehensive agreement, while visiting French President Emmanuel Macron in Versailles.

Over the weekend, a team of US negotiators led by Vice President JD Vance attended talks mediated by Qatari and Pakistani officials in Switzerland. The first round of those talks concluded on Monday, and technical discussions are expected to continue through the week.

Details of Rubio’s trip, such as the precise timing of his visits to the UAE, Kuwait, and Bahrain, and the list of leaders and officials he is due to meet, were not immediately available.

In the statement, Pigott, the State Department spokesperson, said Rubio, who also serves as the White House national security advisor, would “discuss a range of regional priorities including the memorandum of understanding with Iran, efforts to secure full and free safe transit through the Strait of Hormuz, and the importance of peace and stability in the region.”

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The majority of Israelis view the recently finalized US-Iran Memorandum of Understanding (MoU) as a win for Tehran and a loss for Israel’s long-term security, according to a survey conducted by the Agam Institute and the Hebrew University of Jerusalem.

The survey, published on Saturday, asked 3,644 Israeli citizens aged 17 and over from a variety of religious, ethnic, and political backgrounds for their opinions on the deal.

The results of the survey show that the overwhelming majority, approximately 86%, of the Israeli public views the agreement negatively.

Over 90% of individuals surveyed believed that under the terms of the MoU, Iran has emerged victorious. 

Approximately 83% see the agreement as a long-term loss for Israel’s security, with nearly 3/4 of participants believing that Prime Minister Benjamin Netanyahu‘s claims of the IDF having removed an “existential threat” as inaccurate.

Strong opposition to the deal extended to right-wing and haredi voters as well, though a majority still support Netanyahu’s performance as prime minister.

However, overall support for Netanyahu fell by over 11 points between March and June, now at just over 29%, while Yashar’s Gadi Eisenkot gained support, the largest alternative selection in the survey was “other.”

Notable support for IDF action in Lebanon

Notably, nearly half of the respondents approve of future military action against Hezbollah in Lebanon regardless of its effect on relations with US President Donald Trump, with just over 1/5 in opposition to the use of force.

On Monday, a CNN report cited an Israeli source familiar with the matter as saying that the country is contemplating withdrawing IDF soldiers from certain minor areas north of the Yellow Line in southern Lebanon as a “symbolic” gesture for upcoming talks.

On Sunday, N12 News cited familiar sources who said security officials are contemplating allowing the Lebanese Arrmed Forces to take control of a Hezbollah tunnel compound in Tebnit, Lebanon.

The idea is set to be discussed further on Tuesday, according to the sources.

N12 added that the transfer could serve as a test of Lebanon’s willingness and ability to act against Hezbollah.

Goldie Katz, Shir Peretz, and Ariella Roitman contributed to this report.

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President Donald Trump said Friday that he no longer sees the artificial-intelligence company Anthropic as a threat to national security — a sharp shift that came just days after his own administration moved to cut off foreign access to the company’s most powerful AI models. Asked in an interview for “The Axios Show” whether he viewed Anthropic or its chief executive, Dario Amodei, as a danger, Trump said, “Well, not now, but a week ago, maybe.”

The about-face followed one of the most aggressive government actions ever taken against an American technology company. In a letter dated Friday, June 12, Commerce Secretary Howard Lutnick ordered Anthropic to obtain a government license before letting any foreign national, anywhere in the world, use its newest models, called Fable 5 and Mythos 5, and threatened criminal and civil penalties if the firm refused. His letter cited federal export-control law covering civilian technology that an adversary’s military could use for intelligence, and said the license requirement would stay in place until further notice. Anthropic, which had launched the two models on June 9, disabled access to them that same Friday.

Why this matters reaches well beyond one company. It was the first time the U.S. government stepped in to explicitly limit the release of a leading AI model. In doing so, Lutnick stretched the laws that govern sensitive technology to cover the mere use of a cutting-edge AI model — a move that has rattled software developers and their customers, who now worry Washington is willing to step into their everyday operations.

The legal tool is unusual. The government leaned on so-called “deemed export” rules, which treat sharing sensitive technology with a foreign national inside the U.S. as if it were shipped to that person’s home country. Those rules have long applied to fields like nuclear physics and aerospace; applying them to commercial AI software is new — and could make it harder for U.S. labs to hire engineers who aren’t American citizens.

The fight started with a phone call. Amazon CEO Andy Jassy called Treasury Secretary Scott Bessent to flag a flaw that could let users trick Anthropic’s most powerful models into bypassing their safety limits. Bessent has led the administration’s response, worried that a jailbroken Mythos model could be turned against the financial system, and officials felt the company was slow to take the warning seriously.

Anthropic pushed back. The company said it disagreed that finding one narrow loophole should force it to recall a commercial product used by hundreds of millions of people, and warned that holding every lab to that standard would essentially halt all new AI model launches across the industry.

The crackdown also drew fire from outside experts. Cybersecurity specialist Alex Stamos organized an open letter, signed by nearly 150 security leaders, urging the administration to reverse course. They argued the move took the best tools away from the people who defend computer systems, created market uncertainty, and put America’s lead in AI at risk without real justification.

By Friday, the temperature had dropped. Trump said he left the recent Group of Seven summit with a favorable impression of Amodei, and said the CEO had responded to the order quickly and responsibly. Even so, the president did not rule out invoking emergency powers under the Defense Production Act if the company failed to fall in line, saying only that he might not need to go that far.

The dispute is the latest in a widening clash. The Pentagon has separately labeled Anthropic a supply-chain risk after the company tried to keep its technology out of fully autonomous weapons and surveillance of Americans, and Anthropic has sued the administration; a federal judge in San Francisco recently questioned whether the government’s actions were truly tailored to national security. For the broader industry — including rivals like OpenAI and Google — the worry is precedent: if the government can decide who is allowed to use a commercial AI product, every major lab faces a new layer of legal risk.

For now, the two sides are talking. Anthropic and the administration are reportedly working on shared standards for testing how easily AI models can be tricked into misbehaving — a step both hope can settle the matter and get the models back online.

JBizNews Desk
Wall Street

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In 2026, over 80% of Side Real Estate’s partner companies qualified for the RealTrend Verified Rankings, up from 72% a year ago and roughly 51% in 2024. According to Side co-founder and CEO Guy Gal, this growth is no mere coincidence. 

“Side inherently has the benefit of getting to work with really great agents because that is our model — we help very productive agents and teams become their own company,” Gal said.

In 2024, Gal said he and the team at Side were surprised that only about half of their teams and agents made the RealTrend Verified Rankings, and they quickly made it a goal to one day have 100% of their partners make the rankings. 

“This progress has come from making sure that our agents focus all of their energy and effort on what matters most, which is how they market, how they come to the market, how they build out their team and how they work with clients and show up in their communities,” Gal said.

He believes Side agents and partners can focus more on these things because Side provides them with all of the back-end transaction management support, enabling them to spend more time and energy working with and serving their clients. 

“They can be more productive because they are not constrained by their capacity to meet all the opportunities that have already presented themselves.” Gal said. 

Stand outs from the rankings include the San Francisco-based enterprise team City Real Estate, which closed 469 transaction sides and over $1 billion in sales volume, earning it the No. 4 rank in the nation for sale volume on the RealTrends Verified agent rankings, as well as House Real Estate, a Sacramento-based mega team that closed over $380 million in sales volume spanning 417 transaction sides, earning it the No. 2 rank in California by transaction sides. 

Training their way to the top

Kylie James, Side’s senior director of partner success, added that the firm also works to foster the growth of its agents and partners through education and training

“We do over 10 live trainings each week that focus on different areas of a real estate company’s business,” James said. “It might be leveraging some of the tools Side provides or best practices around nurturing your sphere and how to create more business from that. These are really great times for Side to be a thought leader and show those best practices that folks should be implementing in their businesses.”

James added that Side’s managing brokers in each market regularly put on town hall events to ensure that partners and agents stay on top of forms, compliance and understand current local market conditions. 

On top of this, the firm also provides partner companies with a business strategist, who works to help them understand the resources or mentorship they have available to them as they work toward different goals. 

Success breeds success

As Side works toward its goal of having all partners qualify for the RealTrends Verified Rankings, Gal said the company is focusing on creating partnerships with well-established top-producing teams and independent brokerages interested in affiliating with Side. 

“Partnering with these top firms, teams and agents, creates this positive selection bias where the community starts to support itself through connections and relationships. Now most of our partnerships originate from referrals from our community,” Gal said. “Our partners and their brands are showing up in markets in really distinct and visible ways because they are different and not more of the same. This inspires other people around them to want to follow in their footsteps.” 

Gal said it is “pretty cool” to have grown the company to where it is today, largely through organic growth mechanisms

Local over corporate 

Today, however, while much of the rest of the real estate industry is focused on consolidation, Gal said he is confident the boutique, local, community-oriented nature of Side will help continue to fuel its organic growth. 

“For nearly a decade, we’ve been investing against the status quo of the industry, which is much more concerned with consolidating everything under a  small number of brands where everyone sort of looks, speaks, talks, pitches, approaches their marketing and their appointments similarly, which in effect commoditizes the agents,” Gal said. “Instead, we have always thought that if you’re going to commoditize anything in real estate, it should be the brokerage.” 

For Gal, the agents are what makes a company or a brand distinct because they are the ones that understand the texture and contours of the community better than anybody.

“Our agents are specialists and experts in their markets versus generalists, who may be well served by a one-size-fits-all approach,” Gal said. “But we want to see a future of real estate that is a lot more independent, a lot less consolidated, a lot more specialized and a lot more local and community-oriented than it is corporate and consolidated.” 

In the meantime, Gal acknowledged that the industry is in the midst of a massive wave of consolidation, but looking at past consolidations, he said this is often followed by a proliferation of boutique real estate firms, looking to differentiate themselves from the corporate behemoths.

“To the degree that the industry continues to try to bundle itself up into these weird Frankenstein corporations, we want to unbundle it into distinct, unique local companies that receive the support they need to scale, so they can focus on what they do better than anyone else and actually show up in the market as opposed to disappear into it,” Gal said.

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NEW YORK — Shoppers enter an Aldi supermarket, the discount chain known for its private-label products and low prices.

Aldi planted its flag in one of the country’s toughest retail markets on Friday, June 19, opening its first Midtown Manhattan store with a morning ribbon-cutting. Chris Daniels, an Aldi regional vice president, said New Yorkers will quickly see why so many shoppers “already choose ALDI for their weekly grocery trip.”

The opening is more than a single store. It is a marker of how aggressively the discount grocer is expanding — and how hard it is squeezing rivals Walmart and Costco on price.

Aldi runs a no-frills, limited-selection model built almost entirely on private-label products. About 90% of what it sells is its own brand, which gives the company tight control over costs and lets it undercut traditional supermarkets. The Midtown store will be open daily from 9 a.m. to 9 p.m., hours aimed at working shoppers.

The Manhattan move also highlights an edge Aldi holds over Costco. Aldi’s small-format stores fit into dense city neighborhoods where Costco’s warehouse model cannot go, letting Aldi chase urban shoppers the membership clubs struggle to reach.

The expansion is moving fast. Aldi plans to open 180 new U.S. stores in 2026 and is pushing west into Colorado for the first time. Those openings are part of a larger goal to add 800 stores by the end of 2028, one of the most ambitious growth plans in American grocery.

Price is the other front. Aldi rolled out summer-long price cuts on more than 400 products, pitching the reductions as a way for shoppers to save a combined $100 million. Chief Commercial Officer Scott Patton has said the company leans on its private-label lineup and rapid store growth to keep prices low, arguing that more stores actually help it cut prices further by spreading costs.

The pressure is forcing the whole industry to respond. Kroger has told investors it plans widespread price reductions. Stop & Shop recently finished lowering everyday prices across more than 350 stores. Food Lion has run multi-week savings events with loyalty discounts. Across the board, grocers are racing to convince budget-strained shoppers their carts won’t break the bank.

That is a tall order for traditional supermarkets. Research from AlixPartners found only about 13% of shoppers who regularly visit traditional grocery stores believe those chains offer low prices — a perception problem discounters like Aldi and Walmart have spent years turning to their advantage.

For shoppers, the upshot is real savings on staples like milk, eggs, bread, and produce. In price checks across major chains this year, Aldi has repeatedly landed at or near the bottom on basics — the everyday items families buy week after week.

For suppliers and private-label manufacturers, the boom is a mixed bag. Aldi’s growth means bigger orders and higher volumes, but the relentless focus on low prices keeps pressure on margins up and down the supply chain. Farmers and food producers watch closely as the chains adjust orders to match shifting demand.

Aldi’s U.S. business is led by chief executive Atty McGrath, who took the top job in 2025. Under his watch, the company has tied its low-price message directly to its expansion: the more stores it opens, the more buying power it gains, and the more it can pass savings to customers.

What comes next is a wave of new store openings and likely fresh rounds of price matching from Walmart and Costco. Analysts will be watching market-share data in the coming quarters to see whether Aldi’s push is pulling shoppers from its larger rivals.

The bigger picture is straightforward for American families: more competition on price is good news at the checkout. As Aldi pushes into new markets and the big chains fight back, the savings war is playing out one grocery cart at a time.

JBizNews Desk | New York
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Two men were handed life sentences in Pakistan on Saturday after being found guilty of the murder of an American teenager, over fears her “Western” lifestyle would dishonor the family, according to international reports. 

The 14 year-old victim, Hira Anwar, was killed by her father and uncle in January last year after being lured to Pakistan. Anwar, a New Yorker, was shot to death outside her family home in Quetta.

Anwar-ul-Haq, the girl’s father, told police that gunmen fired on her. However, police found that ul-Haq, a naturalized US citizen, has organized the killing with his brother-in-law and both were convicted.

“Our investigation so far has found that the family had an objection to her dressing, lifestyle, and social gathering,” police investigator Zohaib Mohsin told Reuters at the time.

A district court in Quetta confirmed that ul-Haw felt his daughter’s clothing, friendships and social media presence were a source of shame, particularly her communication with boys.

Judge sentenced the murderers to life in prison, instead of death penalty

A court heard that this shame motivated ul-Haq to convince his relatives to kill his daughter, who traveled to Pakistan believing only that they were enjoying a family vacation.

Ul-Haq left his daughter alone in the street, pretending he forgot his phone inside their home, which is when her uncle drove by on a motorcycle and shot her, the court heard.

Despite Judge Shahid Javed acknowledging the murder was premeditated, he reduced the sentence from the death penalty, arguing that there was no evidence of a proven motive, the New York Times reported. The men were also fined $715 each.

Naveed Qambrani, a lawyer for ul-Haq and Anwar’s uncle Muhammad Tayab, told the American newspaper that they would appeal the verdict, arguing the court’s decision was impacted by external pressures.

Over 1,000 women are killed each year in Pakistan at the hands of community or family members over perceived damage to “honor,” according to the independent Human Rights Commission of Pakistan.

Reuters contributed to this report.

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The head of the Shin Bet (Israel Security Agency), David Zini, warned in closed discussions that “the next October 7 will be in Eilat,” according to a report in the newspaper Haaretz.

Zini instructed senior officials in the organization to prioritize a possible attack on the city and views Eilat as a security vulnerability mainly due to its isolated geographic location, the report said.

In discussions within and outside the Shin Bet, he warned of a ground invasion into the city from its land borders, particularly from the Jordanian border, and possibly also from its maritime borders. According to sources, Zini is directing the agency’s intelligence units toward a scenario involving an attack on the city, but security officials are expressing doubt about the importance Zini assigns to it and about the existence of intelligence indicating a planned attack.

As reported by Maariv in January, Prime Minister Benjamin Netanyahu convened a security discussion focused on the defense establishment’s preparedness for fighting on multiple fronts: Iran, Yemen, Lebanon, and Gaza. According to military sources, the IDF worked to build operational capabilities for each of the four arenas. Military Intelligence, the Mossad, and other branches built target banks in each arena, and at the time, no prioritization was established among them. At the beginning of the discussion, the prime minister and defense minister were briefed on the different arenas.

At the time, the security establishment identified in Yemen a learning process by the Houthis, and that despite internal issues and military tensions with Saudi Arabia, the Houthis were still seeking to challenge Israel through various means, from ballistic missile fire to sending ground forces toward Israel’s borders. The IDF at that time carried out a large-scale exercise in the 80th Regional Brigade sector, responsible for parts of southern Israel, with scenarios of enemy raids, including Houthi forces attempting to seize outposts and positions, and even infiltrate a tourist city, take hostages, and carry out killings.

Shin Bet concerns on Eilat line up with regional council warnings

“The statements by the head of the Shin Bet, as well as those of the Defense Ministry director general last week, are not surprising to us and are similar to what we have been warning about since October 7,” the head of the Hevel Eilot Regional Council, Hanan Ginat, responded.

“It is clear to us that the eastern border region is currently the most sensitive in the country. Even today, the border with Jordan in the southern Arava serves as a route for ongoing criminal smuggling of weapons, drugs, and illegal entrants. Our concern is that the criminal route will become a route through which terrorist cells will attempt to infiltrate Israel and harm our communities. We are in full and close cooperation with the regional units operating in our sector, and we thank the fighters protecting us. At the same time, we call on the State of Israel to divert resources to the eastern border in the southern Arava, strengthen community defense units, and understand the major security challenge ahead of us.”

The Shin Bet stated that “Several months ago, as part of the process of assuming his role and learning the various threats, the head of the Shin Bet conducted a tour of Eilat, part of which was carried out in coordination with the army and examined various preparedness measures. We emphasize that there is no concrete information or warning, but rather systematic operational planning and study of threats across all the service’s areas of responsibility.”

No immediate threat to Eilat, mayor confirms

Eilat Mayor Eli Lankri confirmed that there was no concrete information about a new or immediate threat to the city of Eilat, adding, “However, the city and all security forces protecting it are prepared and ready for any scenario. I believe and am certain that since October 7, painful and important lessons have been learned so that the worst disaster in Israel’s history will not be repeated anywhere in the country. Since the beginning of the war, I have been holding regular discussions with all security bodies, and I can say that Eilat is well protected, prepared, and alert thanks to a broad security envelope, and during the war, security measures were even reinforced in the sector, including along the eastern border.

“However, we must not rely on security alone,” Lankri continued. One of the key lessons of October 7 is that national resilience is built in advance, not after the fact. Eilat is Israel’s southern gateway, a city of clear strategic importance located at a tripoint and far from the country’s center. Therefore, the State of Israel must continue investing in strengthening the city in all areas: security, medical services, emergency infrastructure, and public services, because a strong, secure, and thriving Eilat is a top national interest. We are now in the midst of the summer season and the start of the school vacation period. We are ready to receive tens of thousands of visitors and tourists in the coming days, operating in full routine, with security and responsibility. We will, of course, continue to maintain ongoing contact with security officials and act in every way to ensure the safety of Eilat’s residents and visitors.”

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The US Equal Employment Opportunity Commission (EEOC) has opened an investigation into the antisemitism within the National Education Association (NEA) following a charge filed by the Louis D. Brandeis Center.

The near 300-page charge alleges that the nation’s largest union of more than three million members subjected Jewish members to discriminatory practices in violation of Title VII of the Civil Rights Act of 1964.

It also asserts that the NEA has perpetuated “hostile environments” for Jewish members in the union, in the NEA’s state and local affiliates, and in the workplace, “resulting in the spread of antisemitism throughout K-12 public schools.”

“Members have been harmed by the NEA’s promotion of a hateful and biased environment; the proliferation of inaccurate, offensive, and antisemitic materials and attempts at ideological indoctrination; and the NEA’s causing and attempts to cause state and local affiliates and employers to discriminate against Jewish NEA members.”

The charge documents depict several incidents of antisemitic discrimination, harassment, and intimidation, including: the NEA’s handbook removal of Jews as the primary victims of the Holocaust; the union’s distribution of a map to all members that erased the State of Israel; the physical intimidation of members of the the Jewish Affairs Caucus by anti-Israel members, and an incident where Jewish delegates were physically surrounded and shouted at by anti-Israel advocates at the NEA’s 2025 Representative Assembly (RA).

Unions exist to ‘protect employee rights:’ former US assistant secretary of education

Despite repeated notice, the NEA reportedly failed to take action to address the harassment and discrimination against its Jewish members.

According to the EEOC, the charge against the NEA is currently under investigation by the agency’s Washington Field Office. Investigators have been actively gathering evidence and communicating with the Brandeis Center which has been providing documents, witness information, and other materials in support of the charge.

“Unions exist to advocate for fair wages, protect employee rights, and ensure equal treatment for all members,” said Hon. Kenneth L. Marcus, chairman and CEO of the Brandeis Center and the former US Assistant Secretary of Education who ran the Office for Civil Rights during two administrations. 

“No employee or union member should be excluded, intimidated, harassed, discriminated against, or denied opportunities because of their Jewish identity. That’s why our goal is not merely to end antisemitic discrimination and harassment at the NEA but also to ensure an equal playing field for members of all races, religions, and national origins.”

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The International Centre of Justice for Palestinians (ICJP) has been ordered to pay costs after failing to bring a private prosecution against a dual British-Israeli citizen who served in a reserve IDF unit after 7 October 2023. Its antics were also called “egregious” and “inexcusable” by the presiding judge.

The ICJP describes itself as ‘an independent organization of lawyers, politicians and academics’ concerned with the situation in Palestine. The attempted summons against Soldier A was the ICJP’s first private prosecution attempt.

ICJP made the application for the summons of Soldier A on 6 November 2025, with the aim that he be charged under section 4 of the Foreign Enlistment Act 1870. However, UK Lawyers for Israel intervened and pointed out that the offense could only be committed by “a British subject” and that, by virtue of section 35 of the British Nationality Act 1981, a British and/or Israeli citizen is not a British subject. UKLFI also pointed out that successive UK Governments have also explicitly stated that the FEA does not apply to British dual nationals serving in the IDF.

Judge Paul Goldspring of Westminster Magistrates’ Court ultimately ruled on 8 April 2026 that ICJP’s application was “fundamentally misconceived in law” as the FEA does not apply to dual nationals.

“For a dual national, service in the armed forces of his other state of nationality is not ‘foreign enlistment’ in any meaningful sense,” wrote Judge Goldspring in his decision.

The case, which had no legal basis, still failed due to lack of admissible evidence

Judge Goldspring also said that Soldier A did not actually “enlist” on 8 October 2023, but merely reported for reserve duty pursuant to his existing liability under Israeli law.

He also dismissed the ICJP’s argument that Israel was at war with a state friendly to the UK (the FEA requires that a foreign state be at war with a friendly state).

Judge Goldspring then went on to say that even if the ICJP’s legal case were sound, “which it is not”, the application would still fail due to lack of admissible evidence.

“The [ICJP] relies solely on open-source material to establish British citizenship. While the possession of a British passport is direct evidence of British nationality, there is no proper evidential foundation for the assertion that the Proposed Defendant holds such a passport. The material before me consists of photographs and assertions, but no  admissible evidence capable of proof in a criminal court.”

He also said that the UK’s recognition of the state of Palestine cannot be applied with retrospective effect.

“If the [Soldier A] enlisted years before the recognition of Palestinian statehood, that recognition is irrelevant,” said Judge Goldspring.

“The conflict in Gaza and Lebanon is, in reality, with the UK-proscribed terrorist organizations Hamas and Hezbollah. The UK cannot be regarded as being “at peace” with proscribed terrorist organizations (see Schedule 2 to the Terrorism Act 2000).

“It is also of note that the Royal Air Force participated in coalition efforts to defend Israel from aerial attack. In light of this fact, the Applicant’s suppositions fall embarrassingly short of any evidential threshold.”

The judge expressed harsh words to the ICJP for omitting key details

Judge Goldspring also expressed harsh words regarding the ICJP’s omission of the dual-nationality of Soldier A, and how this makes it permissible for him to serve in a foreign army.

“Despite this knowledge, the [ICJP] did not see fit to inform this Court of any of these statements in its application, its case summary, or its skeleton argument. This is a serious and inexcusable omission.”

He further condemned the presentation of the ICJP’s expert witness  Dr Mandy Turner, as “independent” when in fact she is active in social media activity and activism.

“The partisan and misleading nature of this expert evidence is more akin to propaganda than independent analysis. None of this was disclosed to the Court. The expert is, in my judgment, properly considered a campaigner and activist, not an independent expert,” he wrote.

Judge Goldspring did not take these omissions lightly. He said they constitute “withholding of material information, which is a critical factor in determining an abuse of process.”

He more broadly concluded that he believed that ICJP’s “dominant motive” was not the pursuit of justice for a specific criminal act, “but rather the advancement of a political and ideological agenda.”

“The courts must not be used as a vehicle for political debate or to “expose” individuals for alleged wrongdoing which falls outside the scope of criminal law in order or to cause embarrassment to individuals or highlight a particular cause in a public forum, such as a courtroom. I fear that is close to being the case here.”

“This application is legally flawed, evidentially defecient, and procedurally defective. It constitutes an abuse of the process of this court, driven by an improper motive and facilitated by serious breaches of the duty of candour. The application for a summons is refused.”

Ordered to pay costs 

Then, on June 19, Judge Goldspring ruled that the ICJP must pay legal costs to Soldier A, the exact amount which will be decided later.

In this ruling, the judge said the failures of the ICJP were “egregious.” He also said that honesty and full disclosure are “the foundation stone upon which such decisions are taken” and that, in this case, “foundation stone has crumbled.”

This is notably unusually strong language from a judge.

The court, however, rejected attempts to penalize the ICJP’s solicitors and barristers, saying they acted on instructions and were allowed to rely on what they were told, and that the evidence did not meet the very high legal threshold required to personally punish lawyers for misconduct.

A UKLFI spokesperson said, “The main judgment was a complete vindication of the position that British-Israeli dual nationals who serve in the IDF are not committing criminal offenses under the Foreign Enlistment Act.”

“The court rejected ICJP’s case on every point and delivered a devastating criticism of the way in which the application was presented.”

UKLFI said the court’s findings that ICJP failed to disclose material information and breached its duty of candour were “particularly concerning” and said the court’s decision to order costs against ICJP “reflects the seriousness of those failures.”

The Jerusalem Post reached out to the ICJP and Soldier A for comment.

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The widely cited Gaza Mortality Survey, published in The Lancet Global Health, may be more unreliable than previously assumed, according to new correspondence recently published in the British medical journal.

Released by Professor Emeritus Sergio DellaPergola of the Hebrew University of Jerusalem and independent researcher Mark Zlochin, the correspondence analyzed the survey’s publicly released data and found several discrepancies in its methodology and study sample.

According to the Gaza Mortality Survey, some 75,200 violent deaths have occured in Gaza during the Israel-Hamas War, which started on October 7, 2023.

However, DellaPergola and Zlochin argue that the population sample used by researchers in the survey was inaccurate.

They note that the results from two of the interviewer teams, Gaza9 and Gaza3, are extreme outliers that “diverge materially from those of the remaining teams.”

One-quarter of violent deaths claimed by only eight percent of sample

Gaza9, for example, reported on 100 out of 393 (roughly one-quarter) violent deaths, while surveying only eight percent of the total sample. Both Gaza9 and Gaza3 also exhibited different demographic structures from the remaining teams, including having lower populations of children and smaller mean household sizes.

“Population-level mortality estimates are only as reliable as the representativeness of the underlying sample,” DellaPergola said. “Our analysis raises important questions regarding whether the survey achieved the level of representativeness necessary to support its national mortality estimates.”

Other anomalies in the recorded data included survey teams covering only small portions of the areas allocated to them, discrepancies in the estimates of Gazan prisoners, and quality-control procedures not catching any of the aforementioned issues.

Medical journal’s history of anti-Israel publications

This is not the first time that The Lancet has come under fire for its publication of articles relating to Israel.

Earlier this month, The Lancet published a petition calling for the suspension of the Israel Medical Association (IMA) from the World Medical Association (WMA).

The petition was created by health organizations such as the People’s Health Movement (PHM), Artsen voor Gaza (Doctors for Gaza), and the Health Advisory Council of the Jewish Voice for Peace calling for the IMA to be suspended from the WMA over “its failure to speak out against the genocide of Palestinians, the destruction of health-care infrastructure, and the torture and killing of health-care workers in Gaza.”

In July 2024, the medical journal also published a piece authored by doctors Rasha Khatib, Martin McKee, and Salim Yusuf, which claimed that “it is not implausible to estimate that up to 186,000 or even more deaths could be attributable to the current conflict in Gaza.”

Despite the fact that it was designated as a “correspondence” or a letter to the editor rather than a peer-reviewed academic article, the article was disseminated en masse and shared by figures such as UN Special Rapporteur Francesca Albanese.

Mathilda Heller contributed to this report.

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Qatari Prime Minister and Foreign Minister, Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, criticized Israel’s actions in Lebanon and their impact on negotiations, while also applauding the United States’ role in the process, in an interview with Al Jazeera in Doha on Monday.

Al Thani’s comments came following the conclusion of the latest round of Iran talks in Switzerland.

“There are parties that want to sabotage the negotiations, but we have sensed from both sides the determination to reach a solution…Unfortunately, this is not the first time Netanyahu has caused a state of escalation in the region…[It’s] Unacceptable that Israel killed nearly 100 Lebanese in just a few days during the ceasefire…Escalation anywhere in the region, whether in Lebanon or elsewhere, will impact the negotiations,” the prime minister said.

“The continued occupation of Lebanese territories must end, and the sovereignty of Lebanon must be respected,” the prime minister added.

The prime minister applauded the role the United States was playing in relation to Israel’s ongoing military activity in Lebanon, saying, “The United States is playing the right role in response to the Israeli actions in Lebanon.”

US Vice President JD Vance (L) speaks next to Pakistan's Prime Minister Shehbaz Sharif (C) and Qatar's Prime Minister and Minister for Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani (credit: Fabrice Coffrini / POOL / AFP via Getty Images)

The prime minister emphasized the opportunity with these negotiations to bring about a Palestinian state, saying,”We hope that the negotiating momentum includes the Palestinians by achieving a Palestinian state.”

Qatari PM and FM shares his impressions of the talks in Switzerland

During the interview, the prime minister shared his impressions of the talks in Switzerland, which included its complexities, condemnation of Iran’s actions during the war, while also expressing optimism for the future of the region and with the West post the 60-day period. 

“There will be many points of contention in the negotiation process between Washington and Tehran,” the prime minister admitted. 

“Efforts must focus on protecting the negotiations and reaching an outcome to prevent escalation…Efforts must focus on protecting the negotiations and reaching an outcome to prevent escalation…The solution must be diplomatic to prevent the escalation of the crisis and it from getting out of control.”

Specifically talking about the role of Qatar and Pakistan in the negotiations, the prime minister said, “There was insistence from Qatar on confronting the complexities by employing capabilities through negotiation…The priority of the State of Qatar is to extinguish the fires in the region and reach a stage of calm…We are continuing with Pakistan in mediation to find solutions for bridging the gap between the parties…We worked with Pakistan to establish a framework that protects the negotiation process to make it more robust.”

Challenges of the negotiations and the role of the MoU

Discussing the direction and the challenges the negotiations still face, the prime minister said, “There is political will from all parties to engage in negotiations…We faced problems related to Lebanon and the Strait of Hormuz, and we have put in place mechanisms to address them…We have laid the foundations, and now is the construction period for the final agreement between Washington and Tehran.”

“The institutional framework presented yesterday is good, and the technical discussions are ongoing…The memorandum of understanding is based on the commitment of both parties to meet periodically and resolve deadlocks…The memorandum of understanding contains technical elements in addition to the political aspects,” the prime minister said.

Of the role of the Memorandum of Understanding, the prime minister said, “[The] Memorandum of Understanding Establishes Institutional Framework for Negotiation Process…Matters are being discussed between Washington and Tehran, such as the nuclear issue and others with the region, such as security and Hormuz…The objective of the memorandum of understanding between Washington and Tehran is to stop the war and lay the foundation for negotiations…The memorandum of understanding took great efforts with our partners in Pakistan, with regional support…Through the memorandum of understanding between the United States and Iran, we have reached a ceasefire…We want to put in place a mechanism that ensures the money will help the Iranians and will not fund terrorism.”

The status of the Strait of Hormuz

The prime minister also addressed the status of the Strait of Hormuz, saying, “According to the memorandum of understanding, Iran commits within 60 days to providing safe passage through the Strait of Hormuz…Our vision for the Strait of Hormuz is that it be open and that passage through it be free…Qatar’s principled stance is to reject changing the status of the Strait of Hormuz from what it was before the war.” 

The methods of handling the region, the prime minister said, “We have put in place a mechanism to avoid any escalation in the region by addressing any event before it occurs…[An] Agreement [has been] reached to establish a hotline to resolve any dispute.”

The prime minister shares his optimism for the region post-talks

The prime minister shared his optimisim for the negtiations and the future relations he envisions for the Gulfwhich includes regional security and stability saying, “Outcomes of any agreement between Iran and Washington do not affect only them but the region…What Iran did to us and to the brothers during the war is unacceptable…We look forward to a unified vision for the Gulf Cooperation Council for a security framework that ensures stability…We want to see Iran cooperate with Gulf countries based on a high level of trust…There is a Gulf consensus to achieve a shared vision for dialogue with Iran to resolve problems.”

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“As a general, I must say I’m very, very surprised the US didn’t take over militarily the strait,” Brig.-Gen. (ret.) Amir Avivi told The Media Line, warning that the emerging US-Iran memorandum of understanding leaves dangerous uncertainty over the Strait of Hormuz, Israel’s freedom of action, and the future of pressure on Tehran.

I asked the general whether the strait was truly open or whether the memorandum itself showed that the waterway remained contested. For Avivi, the strategic waterway is one of the clearest tests of whether the memorandum is a real step toward stability or a pause that allows Iran to recover.

The Strait of Hormuz is one of the world’s most important energy chokepoints, linking the Persian Gulf to the Gulf of Oman and the Arabian Sea. Any disruption there can affect global oil markets, shipping costs, insurance rates, and regional security. For Avivi, the question is simple: If the strait is truly open, why is a deal needed to open it?

“Yes, it’s not clear,” he said.

Avivi said US Central Command had cleared a passage near Oman to allow ships to leave the strait, but argued that this suggests the waterway is not fully open.

Open-ended war not necessary, Aviv holds

“If the strait was open completely, the way it’s described, you wouldn’t need this deal at all, because this deal is just about opening the strait,” Avivi said.

“It’s releasing the blockade in order to get Iran to agree to open the strait. So why would you need a deal if the strait is open? So obviously it’s not really open,” he asserted.

Avivi said he expected a stronger American military posture to guarantee freedom of navigation. A country as powerful as the United States, he argued, “should be able to control militarily the strait and ensure freedom of shipment in the strait.”

“And it’s not happening. This is not good news,” he said.

That criticism runs through Avivi’s broader assessment of the memorandum. In his view, the danger is not only what the document says, but what Iran, Hezbollah, and other Iranian- backed forces may believe it signals: that pressure is easing and Washington is less willing to fight.

“Now, we cannot be a power if you’re not willing to fight, if you’re not willing to take chances, and if you’re not willing to have casualties,” Avivi said.

He said that did not mean supporting open-ended wars with unclear goals.

“And I’m not saying you need stupid wars. I’m not saying we need 20 years in Iraq or Afghanistan or other wars which were not necessarily smart. We can do a smart war, but we need to be willing to sacrifice and fight for what you believe in, for your values, and for the freedom of shipment globally.”

Avivi described the US-Iran document as provisional and limited, not a final agreement that should reshape Israel’s military calculations.

“It’s a memorandum of understanding. It’s not a binding contract. It’s not a final agreement,” he said.

He said the memorandum defines a short-term framework rather than a settled strategic outcome.

“It’s a memorandum that defines what will happen in the next two months, and anything can happen. Israel hasn’t signed anything. It’s not part of the deal, and Lebanon is not part of the deal.”

For Avivi, that distinction is central. Israel, he said, is not party to the arrangement, yet could still be pressed to reduce its military activity while Iran and Hezbollah use the lull to regroup.

“And yet, we’re demanded again and again not to fight freely, not to defend our citizens and soldiers the way we should do,” he said.

Avivi said Israel is currently focused mainly on southern Lebanon rather than striking Hezbollah positions across the country. In his view, that restraint carries a price.

“We’re fighting mainly in south Lebanon, and this enables Hezbollah to regroup, to be more effective. This endangers our soldiers and our citizens, and this is not a good place to be.” The concern, Avivi said, is that Tehran and its allies will read any visible gap between Washington and Jerusalem as an invitation to push harder.

“I think that when Iran and its proxies see a kind of daylight between the US and Israel, they get emboldened,” he said. “It’s obvious that they are going to try to embarrass the president. It’s obvious that they are going to try and deepen the daylight between Israel and the US.”

The retired general said Israelis are watching the diplomatic shift with deep unease. “No. I must say in Israel, … we are very worried about where things are going,” Avivi said when asked whether the region was in a good place.

He contrasted the current uncertainty with what he described as a more decisive opening stage of the war.

While Iran remains damaged, MoU brings uncertainty

“We started the war with a lot of resolution, fighting together with the US, with a clear message from President Trump saying there will be unconditional surrender of the regime.”

Avivi said military action and economic pressure had badly damaged Iran’s capabilities. He described the US blockade as especially important, saying it placed a severe strain on the Iranian economy.

“The US imposed a blockade that obviously was very, very effective and brought their economy to the point where if you continue the blockade, it might collapse,” he said. That is why he sees any easing of pressure as dangerous.

“And now we’re in a different stage where the Iranians are getting emboldened,” he said.

“They feel that maybe the US lost the willingness to fight. And we are talking about
releasing money to the regime, about opening the blockade, which was relieved now and destroyed.”

Avivi did not argue that US-Israel relations had collapsed. He said some of the alarm in Israel may be premature, and that Washington may still use the next phase to pursue the original goals of the war: preventing Iran from acquiring nuclear weapons, stopping ballistic missile production, and cutting off support for its regional network.

“There is a tendency immediately to go to complete pessimism, and that’s it, and we are done, and the relationship between Israel and the US is terrible. I don’t think this is the case,” he said.

Still, Avivi made clear that his basic view of the Iranian regime has not changed. “They’re not going to abide to any agreements. This is the way they work. They understand only one language, and this is power,” he said.

He argued that sanctions and military force remain the only tools capable of changing Tehran’s behavior.

“Whether economical sanctions or kinetic attacks, there’s no other way to bring this regime on its knees. They’re never going to give up nuclear potential capabilities without a fight. This is the reality on the ground.”

Avivi said he understands that the US president may be trying to ease a global energy crisis, but warned that diplomacy cannot replace the war’s stated aims.

“Now, maybe in the eyes of the president, there is a need to ease the crisis, the energy crisis globally that’s going on, and it’s understandable,” he said, “but the bottom line is we’ll have to go back and fight and bring this regime on its knees and do what we said we’ll do from the beginning. Bring them to a state of unconditional surrender.”

Asked what message he would send to Washington, Avivi said the United States should assume Iran will deceive.

“But I would say to the US, don’t believe to anything they say. They’re not going to do anything. You know, they say they will. We know the Iranians are going to deceive,” he said. If Iran fails to comply, he said, Washington and Jerusalem should return to pressure.

“They’re going to lie. And the moment they don’t deliver, we need to go back to a blockade, and we need to go back to deal with them militarily, continue degrading their leadership and capabilities until we get to the point where this regime is not sustainable anymore.”

One of Avivi’s sharpest warnings concerned possible financial relief for Tehran. If money is released to Iran, he said, it will not strengthen moderates or produce stability. It will help rebuild Iran’s military capabilities and support its proxies.

“Definitely. Any money this regime will get will be used to strengthen their proxies, will be used to build up again military capabilities,” he said.

He tied the issue directly to future casualties.

“This will cost the lives of American soldiers, and this will cost the lives of Israeli soldiers.” Avivi said he believes the Iranian regime must ultimately fall and that agreements with it cannot produce lasting security.

“It’s a very bad idea to give money to this regime. This regime must fall. We need a change of regime in Iran, and dealing with any agreement with this regime is a bad agreement,” he said.

I asked Avivi whether Israel could act without the United States if the memorandum failed to produce real Iranian concessions. His answer was immediate.

“Israel obviously can do it alone,” he said.

He acknowledged that American support remains important, but said Israel has the military ability to continue operating against Iran.

“We do need American support and so on,” he said, but “militarily, Israel can definitely deal with Iran. We completely control their airspace.”

Avivi said Israel has already demonstrated that capability.

“We’re able to strike them wherever we want, when we want, and the IDF is getting ready for that. We understand that we might be in a situation where we’ll have to deal with this alone. We started alone, by the way.”

He added, “Our first attack, the 12-day war, we went alone.”

Asked about the Iranian public and the possibility of renewed internal unrest, Avivi said the issue extends beyond any single ethnic or opposition group.

“I don’t know if it’s just about the Kurds. I think we’re talking about overall the Iranian people,” he said. “I would say that probably 90% of the Iranian society wants a change of regime.”

He said Iran’s internal conditions are dire, citing water shortages, electricity problems, a broken currency, and high inflation. Yet he warned that domestic opposition is less likely to move if the regime senses hesitation from outside powers.

“It’s very hard to predict when they will feel emboldened enough to go to the streets again and fight,” he said. “But when we see hesitation, when we see at this point lack of resolution, when we see this regime again emboldened, it’s hard to see how the Iranian people will rise.”

Iran conflicts offers new countries the chance to normalize relations with Israel

Looking beyond Iran, Avivi said the region needs a broader alignment built around Israel, the United States, and moderate Sunni states. He said Saudi Arabia should no longer keep its relationship with Israel behind the curtain.

“You know, before the war, we were on the verge of normalization. And Israel and Saudi Arabia, behind the scenes, have a lot of relations, and there’s a lot going on. But I think it’s time that Saudi Arabia moves out of the shadows and normalizes relations with Israel,” he said. Avivi described Saudi Arabia as a central player in a larger regional structure.

“Saudi Arabia is the leader of the Sunni world,” he said. “In order to deal with the dangers that Iran and its proxies present, by the way, dangers that are existential for the Gulf states and Saudi Arabia, and also to deal with Sunni radicalism, Muslim Brotherhood—also a big danger to moderate Sunni states—you need an alliance. You need an Israeli-American-Sunni alliance.”

He said Gulf states have seen sharp changes in American policy between administrations and may conclude that Israel is the more consistent regional partner.

“They can only trust Israel always being resolute and always be willing to fight,” he said.

For Avivi, the memorandum may still lead somewhere useful if Washington uses the coming weeks to maintain pressure and demand real concessions. But he warned that if the document becomes a pause without leverage, Iran and its allies will use it.

His argument is blunt: diplomacy is not the problem; diplomacy without force is. The question now is whether the US-Iran track will contain Tehran or convince Tehran that the pressure is lifting.

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When a Federal Reserve official speaks about the economy, the expectation is usually that everyone hears the message at the same time — through a public speech, a press conference, congressional testimony or a published interview.

This week, one of the Fed’s most powerful officials instead spoke behind closed doors.

Michelle Bowman, the Federal Reserve’s Vice Chair for Supervision, attended a private, invitation-only dinner hosted by Bank of America for select clients in New York on Wednesday evening, just hours after the central bank announced its latest interest-rate decision. According to people familiar with the gathering, Bowman was the featured guest at the event.

The dinner immediately raised questions because of both who attended and when it occurred.

In a statement, Bowman said she did not discuss monetary policy and has “consistently complied with all applicable FOMC and ethics rules.” The Federal Reserve’s rules do not prohibit officials from attending private events, and there is currently no indication that any confidential information was shared.

Still, the controversy is less about what was said and more about who had access.

Private client dinners are a longstanding part of Wall Street culture. Major banks routinely host exclusive gatherings for large investors, corporate executives and wealthy clients. The value of those events often comes not from formal presentations but from direct access to influential decision-makers.

For Bank of America, securing the appearance of the nation’s top banking regulator offered a powerful attraction for clients. For attendees, it provided face-to-face access to someone who helps oversee the financial institutions that control trillions of dollars in assets.

That access is precisely why critics are concerned.

Unlike a private-sector executive, Bowman is a public official. She helps write and enforce regulations affecting the largest banks in the country, including Bank of America itself. She also participates in decisions that influence borrowing costs across the American economy.

The timing of the event amplified those concerns.

The Federal Open Market Committee (FOMC) operates under a communications blackout period surrounding each policy meeting. During that period, Fed officials avoid public commentary on monetary policy and economic conditions to ensure that markets receive information fairly and simultaneously.

The dinner occurred during that sensitive window, shortly after the Fed’s latest rate announcement.

Supporters of the current rules argue that attending a private dinner is not the same as delivering private policy guidance. They note that regulators routinely meet with bankers, investors, consumer groups and businesses to understand how regulations affect the economy.

Bowman herself has repeatedly argued that direct engagement with the banking industry is an important part of effective supervision and policymaking.

Critics, however, see a broader issue.

A public speech places every investor, saver, borrower and business owner on equal footing. A private dinner attended only by selected clients of one major bank does not.

Even if no policy information changes hands, critics argue that the appearance of preferential access can erode confidence in the fairness of financial regulation.

The controversy also lands at a politically sensitive moment.

Appointed by President Donald Trump and elevated to the Fed’s top regulatory role last year, Bowman has become one of the leading advocates for easing certain banking regulations. She has supported reviewing capital requirements, streamlining supervisory processes and reducing regulatory burdens on financial institutions.

Her critics, including Sen. Elizabeth Warren, have accused her of being too close to the banking industry. Warren and other Democrats have previously questioned whether Bowman has given excessive weight to complaints from bank executives when shaping regulatory decisions.

Against that backdrop, a private appearance before clients of one of the country’s largest banks inevitably attracts scrutiny.

For ordinary Americans, the issue may seem distant, but the implications are not.

The Federal Reserve influences mortgage rates, auto loans, credit-card interest, savings-account yields and countless other financial products that affect household budgets. It also oversees the banking system where Americans keep their money.

Public trust in those institutions depends heavily on the belief that regulators serve the broader public rather than any particular group of financial insiders.

That is why questions surrounding access matter.

If large investors and major banking clients appear to have opportunities unavailable to ordinary citizens, confidence in the system can weaken even when no rules are technically broken.

This week’s event was especially notable because it came during the first major policy cycle under new Federal Reserve Chair Kevin Warsh, whose leadership is already being closely watched by markets and lawmakers.

Whether the Fed chooses to review its policies regarding private meetings remains unclear.

For now, Bowman maintains she followed all applicable rules, and there is no evidence she violated any Federal Reserve guidelines.

The larger debate is whether those guidelines are sufficient in an era when public confidence in institutions is increasingly tied not only to what officials do, but also to how it looks when they do it.

JBizNews Desk | Washington

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A new temporary public art installation on McGuinness Boulevard in Greenpoint seeks to draw attention to the safety improvements being implemented as part of the corridor’s redesign. Department of Transportation (DOT) Commissioner Mike Flynn last week announced the completion of artist Kevin Cincotta’s mural at Father Studzinski Square, which transforms 1,600 square feet of asphalt and 80 linear feet of concrete bike barriers into a public artwork. The boulevard is currently undergoing a major redesign that includes parking-protected bike lanes along the notoriously dangerous corridor between Meeker Avenue and the Pulaski Bridge.

Titled “Becoming,” the mural’s design was shaped through engagement with community members, who provided input to ensure the installation reflects Greenpoint’s past while looking toward its future. It depicts flora and fauna that once thrived when the area was marshland, while also paying tribute to the Polish community that helped shape its identity.

Rendered in Cincotta’s signature style, it also features animals from Polish folklore. Frogs symbolize transformation and hidden beauty, while birds represent freedom and audacity. The creatures are surrounded by floral motifs drawn from traditional Polish papercutting folk art.

A large painted lily pad interacts with planters and other physical elements to integrate the installation into the streetscape. It is located on the painted curb extension and along the bike barrier from Driggs to Graham Avenues.

The mural highlights major street safety upgrades planned for the boulevard as part of its redesign. Street safety advocates have pushed for additional measures along the corridor for years, a campaign that intensified after the 2021 death of a teacher in a hit-and-run.

“McGuinness Boulevard’s transformation is about much more than redesigning a street, it’s about creating a corridor that reflects the people who live, work, and travel here every day,” Flynn said.

“This whimsical artwork brings together community identity and creativity in public space, helping turn a long-divided roadway into a welcoming neighborhood place that residents can recognize as their own,” he added.

In 2023, under former Mayor Eric Adams, the DOT announced a “road diet” plan that would remove a traffic lane and add protected bike lanes in both directions. However, following opposition from local residents and elected officials, Adams scaled back the original design in August 2024.

The reasons behind the sudden reversal remained unclear until August 2025, when Manhattan District Attorney Alvin Bragg accused Ingrid Lewis-Martin, former chief adviser to Adams, of bribery, as 6sqft previously reported.

According to the allegations, Lewis-Martin accepted $2,500 in cash, free catering at Gracie Mansion valued at $10,000, and a brief appearance on the television show “Godfather of Harlem” in exchange for allegedly using her influence to alter the McGuinness Boulevard redesign on behalf of the Argentos. The case is ongoing.

While on the campaign trail in August, Mamdani held a rally on the boulevard where he pledged to complete the original “road diet” plan. In January, he officially announced that the DOT would move forward with the plan, and in May, construction began.

“Since day one of our administration, we have been laser-focused on making our streets safer for every New Yorker, and that work began on McGuinness Boulevard,” Mayor Zohran Mamdani said. “With construction on the redesign already underway, this public art installation celebrates the people and history that make this community so special.”

Construction is slated for completion by early fall.

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Two very different retailers — a luxury jeweler and a boating-supply chain — moved this week to shrink their store counts, a sign of how broadly rising costs and shifting shopping habits are reshaping American retail. Tiffany & Co. confirmed it will permanently close its store at Stony Point Fashion Park in Richmond, Virginia, on June 30, 2026, the company told customers in an email. The same week, marine retailer West Marine confirmed in bankruptcy filings that it will close 59 stores across 23 states as part of its Chapter 11 restructuring.

For Tiffany, the Richmond closure ends a run that began in late 2011. A store manager confirmed the closing and said there were no plans to relocate within the Richmond area, and shoppers will be steered to the brand’s website or its Tysons Corner store, which will become Tiffany’s only remaining store in Virginia. The closure is one of several Tiffany has made around the country during a turbulent period for luxury, as softer demand, rising operating costs, and changing shopping behavior reshape how major brands approach brick-and-mortar retail. The company now operates about 90 locations in the United States.

The exit also deepens the troubles at Stony Point. The mall, which opened in 2003 and was long anchored by Saks Fifth Avenue and Dillard’s, lost its Saks anchor this year after the location was included in a plan to close stores nationwide. Losing both a department-store anchor and a marquee jeweler in the same year points to thinning discretionary traffic at regional centers that lean on exactly those tenants to draw shoppers.

West Marine’s retreat is larger and messier. The retailer, founded in 1968, filed for Chapter 11 on May 17, 2026, in the U.S. Bankruptcy Court for the District of Delaware, and a June 9 court order authorized store-closing sales at the identified locations. The company entered bankruptcy with more than 200 stores across 34 states and Puerto Rico, and is now cutting more than a quarter of that footprint.

In court filings, the company tied its troubles to a tough capital structure following supply-chain issues, extreme weather, and changes in how customers shop — compounded by a post-pandemic drop in boat buying after the 2020 boom faded. CEO Paulee Day said the actions would let the company “optimize our operations and rationalize our footprint.” West Marine has stressed the filing is a restructuring, not a liquidation, and that its secured lenders have agreed to fund operations and help it exit.

The wind-down is being run by Hilco Merchant Resources and is projected to run through late September 2026. A sale process is also underway: the court set a June 26 bid deadline, a possible June 29 auction, and an August 3 sale hearing, overseen at the Delaware court by Chief Judge Karen B. Owens.

The bankruptcy has drawn sharp scrutiny over executive pay. At the mandatory creditors’ meeting, bankruptcy trustee Linda J. Casey pressed the company to explain a $1.2 million bonus paid to former CEO Chuck Rubin, who departed in late 2025. Court papers show that bonus was paid in June 2025, and that current CEO Paulee Day took a $425,000 retention bonus on May 1, part of $1.075 million paid to five executives that day — 16 days before the filing. The payments have angered vendors, who are owed more than $65 million by the company’s 30 largest suppliers; Garmin alone is owed about $8.57 million, and one small supplier said it is still out roughly $12,000. Creditors have asked whether the bonus money can be clawed back.

Both retreats fit a wider pattern. Recent marine data showed the mid-to-high boat segment, priced between $100,000 and $200,000, falling 14.3%, while the sub-$50,000 segment rose 8.7% — a clear sign of buyers trading down. A separate Deloitte retail outlook found nearly seven in ten retail executives now view trading down and chasing value as a structural change, not a temporary response to inflation.

For mall operators and the workers staffing these stores, the message is blunt: physical footprints are being trimmed quickly, at both the luxury and everyday ends of the market, as companies steer toward leaner operations and online sales.

JBizNews Desk | Richmond

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BUNIA, Congo — Confirmed cases in the Ebola outbreak in eastern Congo have reached 1,003, including 254 deaths, officials said, as tracing those who had been in contact with patients remains a major challenge.

A total of 100 people have recovered in the outbreak concentrated in the Ituri province since it was declared on May 15, Congo’s Ministry of Health said Sunday. At least 365 patients are in hospitals or in isolation, it said.

Read the rest…

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The headlines that landed this month read like a siren. Sharpest price drop in nine years. For a broker-owner scanning the morning news between agent calls and recruiting appointments, that kind of language can set the tone for the whole day, and not in a good way. But the data underneath those headlines tells a far more useful story, and the leaders who read it correctly will be the ones who position their businesses to win the rest of the year.

According to the Realtor.com May 2026 Monthly Housing Trends Report, the national median list price fell 2.4% year over year to $429,500, the steepest annual decline since the company began tracking the figure in 2017. Median price per square foot dropped 2.5%, a record annual decline, and fell in 35 of the 50 largest metros. On its face, that looks like a market losing altitude.

Look closer, and you see something else entirely. This is not a plane falling out of the sky. It is a plane being brought in for a smooth landing.

The tell is in what did not happen

The most important number in the report is not the price drop. It is the price cut that never came. The share of listings with a price reduction fell to 17.5%, down from 19.1% a year earlier. In a genuinely distressed market, the pattern runs the other way: sellers list high, reality sets in and a wave of reductions follows. As Realtor.com senior economist Jake Krimmel put it, in a crashing market sellers list optimistically and get forced to cut.

What happened in May was the opposite. Sellers priced to sell rather than pricing to test the market. They did their homework before the listing went live, not after it sat for 40 days. That is the behavior of a disciplined market, not a collapsing one.

And buyers rewarded that discipline. Pending home sales rose 4.3% year over year, the sixth straight month of gains, while new listings hit 474,976, the highest May level since 2022, fueling the most active spring market in four years. Chief economist Danielle Hale summed it up well, noting that six months of sellers adjusting their expectations have been met by buyers stepping back in.

So, the real picture is a market exhaling after years of holding its breath. Prices are softening, supply is loosening, and demand is quietly returning. For executives, that combination is not a threat. It is a window.

What it means for your business

A normalizing market rewards competence in a way that a frenzy never does. When homes sold themselves in a weekend, pricing skill was optional and order-takers thrived. That era is over. The agents and teams who win now will be the ones who can sit at a kitchen table, walk a seller through the data and guide them to a number that actually moves the home. That is a coachable, buildable skill, and it is where smart leaders should be investing right now. Here are the moves that matter.

First, have your agents rebuild their listing conversations around pricing discipline. The data has handed you the most persuasive talking point of the year: sellers who price right from the start are selling and those who chase the market down are not. Equip every professional in your organization to tell that story with current numbers, not gut feel. What we teach our coaching clients is simple. The comparative market analysis is no longer a formality your agents can breeze past on the way to the listing agreement. It is the listing agreement.

Second, retrain the price-reduction conversation before you need it. The brokerages that struggle this year will be the ones still having awkward, defensive price-cut talks in week six. Get ahead of it. Coach your team to set pricing expectations during the listing appointment, with a clear, pre-agreed plan for what happens if the market does not respond. A seller who understands the plan on day one does not panic on day thirty.

Third, build capacity for volume, not just margin. Demand is returning and inventory is rising at the same time. That is the recipe for transaction growth, and transaction growth is a staffingand systems question as much as a sales one. Are your lead routing, your transaction coordination, and your onboarding ready to handle more deals at a moment when many competitors are still bracing for a downturn the data does not support?

Fourth, treat this as a recruiting and retention moment. A market that rewards skill is also a market that reshuffles talent. The professionals who coasted on easy conditions will start to feel the squeeze, and the ones who want to get better will start looking for a brokerage that can actually help them do it. That is your opening. The leader who offers real training, real coaching and a clear plan for winning in this market becomes a magnet for the agents worth having, and a place the best ones have no reason to leave. Invest in your people now, while your competitors are still bracing for a downturn the data does not support.

Fifth, manage the narrative inside your own walls. Your agents are reading the same unsettling headlines your clients are. Left unaddressed, sharpest drop in nine years becomes a confidence problem that shows up in every listing appointment. The most valuable thing a leader can do this month is translate the data for the team. This is normalization, not freefall, and a normalizing market is exactly where skilled professionals separate themselves from the pack.

The opportunity in the recalibration

There is a reason markets like this tend to reshuffle the leaderboard. When conditions are easy, the gap between the great and the average disappears. When conditions demand skill, that gap reopens, and the professionals who invested in their craft step into the space the order-takers leave behind.

The May report is, at its core, a story about expectations meeting reality and a market finding its footing. Sellers are getting realistic. Buyers are responding. The organizations that thrive will be the ones whose leaders saw past the headline, read the data, and built their people to meet the moment.

Prices came down. For the broker-owner who is paying attention, opportunity went up.

Darryl Davis, CSP, is a nationally recognized real estate speaker, bestselling author, and coach with more than 40 years in the industry. He helps real estate professionals and the leaders who build them create careers, and lives, worth smiling about. Learn more at darrylspeaks.com.

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

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

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The Justice Department on Friday, June 19, refused a federal judge’s order to state, in a sworn written filing, that it has truly abandoned a controversial $1.8 billion “anti-weaponization fund,” calling the demand “unnecessary” and warning that compelling testimony from senior executive-branch officials “implicates serious separation of powers concerns.” The refusal, filed in federal court in Alexandria, Virginia, leaves open the possibility that the taxpayer-funded program could be revived and keeps a politically charged standoff between the administration and the courts alive.

The fund was announced in May to compensate people who say they were wrongly targeted by the government — what supporters call victims of “lawfare” — during the Biden administration. It grew out of a legal settlement ending a lawsuit President Donald Trump had filed against the IRS, under which Trump agreed to drop a $10 billion claim against the agency and two related civil claims, worth about $230 million, tied to the Russia investigation and the 2022 search of his Mar-a-Lago home. Critics, including the watchdog group Citizens for Responsibility and Ethics in Washington, called it a “jaw-dropping act of presidential corruption” and argued it was illegal because Congress never approved the money.

The program quickly became a political problem, even within Trump’s own party. Republicans on Capitol Hill objected, and the dispute threatened to tangle up the GOP’s immigration agenda. Under that pressure, Acting Attorney General Todd Blanche announced at a June 2 congressional hearing, “We’re not moving forward with the fund — period.” But he declined to put that promise in writing, telling the panel he was “not committing” to formally abandoning it. Democratic senators including Sheldon Whitehouse and Dick Durbin have framed the plan as a misuse of taxpayer money.

That gap — a verbal promise but no binding document — is what landed the matter before U.S. District Judge Leonie Brinkema. She had already issued an order indefinitely blocking the fund, said the spoken assurances weren’t enough, and gave Blanche, Treasury Secretary Scott Bessent and Associate Attorney General Stanley Woodward a week to sign sworn statements that the fund was dead. Her doubts grew after Trump, days after Blanche’s testimony, publicly said he still wanted the fund, which the judge pointed to as reason to question the department’s claims.

On Friday, the department said no. In the filing, Justice Department lawyer Andrew Block argued that the Acting Attorney General had already testified the fund was “not going forward, period,” that government counsel had twice signed briefs reaffirming the point in court, and that all those statements were made “against the backdrop of serious penalties for falsity.” Forcing senior officials to swear to it on the judge’s command, the department argued, would cross constitutional lines.

Opponents aren’t satisfied. They note the department has not formally rescinded the May settlement that created the fund, which they argue means it could still proceed or be rebuilt in another form. A separate watchdog suit in Washington, D.C., made the same case; there, U.S. District Judge Richard Leon dismissed the challenge as moot given the government’s repeated promises, but issued a warning to the administration as he did so. A bipartisan group of 35 former federal judges has separately asked a court in Miami to reopen the underlying settlement and review whether it was proper.

A tax thread keeps the fight tied to the IRS. Blanche has said he will not withdraw a memo that bars the IRS from reviewing the past tax returns of Trump, his family and his businesses — a restriction that stays in place regardless of what happens to the fund itself.

For now, the money is frozen and the legal questions are unresolved. The core issue is whether a president can set aside public funds to pay people he believes were wronged by the previous administration, and whether a spoken pledge to drop the idea is enough to satisfy a court. With the department declining to sign on the dotted line, Judge Brinkema will now decide whether the case can be closed or the fight goes on.

JBizNews Desk
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Prime Minister Benjamin Netanyahu said on Monday that the IDF retains freedom of action to act against threats in Lebanon.

“My directive and that of the Minister of Defense to the IDF is clear and has not changed,” said Netanyahu. “Our fighters in southern Lebanon have full freedom of action to thwart any direct or emerging threat to them or to the residents of the North.

“The IDF has no restrictions in this regard,” he said. “I stand behind them; the entire nation stands behind them.”

I stand firm that we will remain in the security zone in southern Lebanon as long as necessary to protect the residents of the North and all citizens of the country,” he added.

Israel reportedly contemplates ‘symbolic’ Lebanon withdrawal

Israel is contemplating announcing a “symbolic” withdrawal from certain territories in southern Lebanon as part of the upcoming round of talks, CNN reported earlier on Monday, citing an Israeli source familiar with the matter.

The withdrawals would include forces pulling back from minor areas along the Yellow Line.

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The Islamic Republic’s decision to announce the closure of the Strait of Hormuz on Sunday, along with the terms and conditions published by the Persian Gulf Strait Authority (PGSA), makes clear that Tehran intends to continue to use the vital waterway, an expert told The Jerusalem Post on Monday.

Though US Central Command asserted the waterway remained opened, shortly after Iran’s announcement that it closed the strait in response to Israeli attacks in Lebanon, data from analytics firm Kpler revealed that traffic plunged following the Iranian announcement.

CENTCOM claimed on Saturday that 55 merchant ships transited through Hormuz, moving more than 17 million barrels of oil to global markets, though the Israeli maritime company Windward AI published on Sunday that the day prior had seen only 32 ships transit and 65% of crude oil exports since June 8 have been destined for China.

Three of the vessels were sanctioned Very Large Crude Oil Carriers, including one Iranian-flagged vessel, operating in the open, windward noted.

“Throughout the conflict, sanctioned tonnage in this theater operated almost entirely dark. This posture shift — loading in the open — is consistent with a fleet that no longer judges concealment necessary following the US-Iran MoU signed 17 June,” the Israeli company suggested.

Iran’s tactics are illegal under international law, expert says

In addition to becoming bolder with sanctioned vessels in the maritime territory, the Islamic Republic’s PGSA has also continued to assert dominion over Hormuz, asserting that ships must still seek permission from Iran to cross and disclose information about the ship’s ownership, origins and cargo.

The Post was also able to confirm that the PGSA’s “Passage rules and regulations” asserts that the Iranian group “reserves the right to enforce penalties, revoke permissions or take further legal action” if ships fail to comply with PGSA orders and that the “PGSA reserves the right to introduce insurance fees in the future.”

Professor Michael Clarke, a prominent British defense analyst, academic, and former Director-General of the Royal United Services Institute, explained to The Post that such plans by Iran are illegal under international law.

The right to keep the Strait of Hormuz open is guaranteed by the doctrine of transit passage under the 1982 United Nations Convention on the Law of the Sea (UNCLOS) and customary international law, and asserts that transport across the waterway be unimpeded even during times of conflict.

The Islamic Republic has attempted to gain international authority of Hormuz, first demanding tolls for crossing and then fees for services rendered by allowing ships to cross the waterway safely, though it is the Islamic Republic’s firing at ships and placement of mines that threatened secure transit.

The United States has not confirmed the number of mines laid by Iran, though a Whitehouse official confirmed to CNBC earlier this month that more than 40 minelaying vessels had been destroyed.

Clarke suggested that Iran was trying to “normalize” the need for shipping companies to coordinate with PGSA as a matter of necessity before again pushing for the financial boost that control of Hormuz would provide.

According to the 16th annual Eye on the Market Energy Paper: Fighting Words, published by J.P. Morgan, Iran stands to gain between USD 70-90 billion in annual revenue from tolls alone. With a fifth of global oil and liquefied natural gas supplies now disrupted for over three months, and US President Donald Trump claiming last week that global oil supplies will run out in four weeks if the strait is not opened, Clarke noted that Iran had the potential to gain more from the  already overwhelmingly favorable MoU.

The impact of global desperation has meant that Iran is able to hold Israel operations “hostage,” creating a pressure campaign, motivated by fear of oil scarcity, for Israel to absorb attacks from Hezbollah without responding to the terror group,” Clarke highlighted.

Israel, who was not a party to the US agreement and was indeed largely excluded from the processes, will now be blamed for every closure of Hormuz, he explained.

Trump suggested Sharaa’s forces fight Hezbollah, signaling loss of support for Jerusalem

Tensions between Washington and Jerusalem have already been made apparent, with Trump suggesting Syria may be better adept at handling the threat of Hezbollah and a heated exchange between the US leader and Prime Minister Benjamin Netanyahu. Axios reported that Trump demanded Netanyahu back off on the strikes on Hezbollah, telling him he was “f***ing crazy,” Netanyahu would be in prison had Trump not intervened and that Israel is widely hated because of him.

Israeli reporter Barak Ravid told CNN that staff close to Trump told him there was an increasing feeling that Netanyahu has lost control, or that Trump has lost control of Netanyahu, as Jerusalem and Washington have differing interests in the coming actions.

As noted by Clarke, the war against Iran has been largely unpopular in the United States and with US federal elections approaching, Trump is interested in ending the war. With national security at risk, and three years of devastating wars against multiple Iranian proxy groups, Netanyahu wants to see the fall of the Islamic regime through renewed conflict.

“The Americans essentially lost the war on the 8th of April with the ceasefire and we are seeing a progressive surrender,” Clarke asserted, adding that Iran’s demands would only grow taller as Washington’s desperation becomes more apparent.

Having failed to remove the nuclear threat, Washington must now return to the old policy of managing that threat but under significantly worse conditions, he added, claiming that the war has only led to a strengthened IRGC-led regime and a weakened civil society because of its premature ending.

Citing the Foundation for Defense of Democracies estimate that the war cost Iran $144 billion, half of the country’s annual GDP, and the significant anger held by the Iranian public over the January massacres, Clarke conceded when asked that the opportunity for regime change had been missed and that the Iranian people’s trust had been lost by the “stupid” promises made by the US president to those taking to the streets at great personal cost.

“The whole thing is a strategic failure of the first order,” he concluded, adding that he predicted regime change would still eventually come but it would be a far more violent ordeal than had the relevant powers pursued the end of the Islamic regime now. 

According to others, the war was doomed from the beginning

Though Clarke felt that the ceasefire agreement was the true moment America lost the war against Iran, Dr. Daniel Sobelman, a fellow with the Middle East Initiative and an associate professor of international relations at Hebrew University, believed it was the opening move to initiate war with Iran that started the sequence of events that now leaves the fate of Hormuz in question.

The international community has long been aware of Iran’s threat to assert authority or close Hormuz, a move that Iran refrained from out of fear of war with the US, he argued. When the war started at the end of February, Tehran was left with no reason not to play its Trump card.

Certain that Trump’s goal was regime change in Iran, Sobelman said that Tehran was pushed to prove that its “new strategic reality is not going to go anywhere.”

The US is now faced with accepting the MoU or undertaking a risky operation to militarily open the strait, a risky operation that would potentially produce an outright military victory for the regime if it fails, he highlighted. Such a “gamble” would potentially affirm an Iranian world order.

“Either way, Iran’s strategic market value has gone up, because the United States, a superpower and a regional power, stormed Iran, tried to topple the regime, and Iran is still standing,” he outlined.

Though the MoU has been difficult to swallow for Jerusalem, and considered a catastrophe by a large number of experts cited in the Post, Sobelman suggested that restoring the equilibrium of power might be what’s necessary to move forward from the near-constant state of war.

Reflecting on the dramatic change in Israel’s mentality from before October 7, when the country was reluctant to combat any threat for fear of starting a war, to now where IDF forces are occupying territory in Lebanon to create a buffer zone against the Hezbollah threat, Sobelman argued the deal might be beneficial depending on what both sides make of it.

He exampled that after the Yom Kippur war success, Israel didn’t want to return Sinai, but it was Egyptian’s seizure of the Israeli side of the Suez Canal that led the countries to finally negotiate and reach a lasting, admittedly cold, peace.

“The Americans understood that if Israel reached a decisive victory against Egypt, then we’re back at square one, and Israel would never agree to engage in peace talks with the Egyptians,” he noted, suggesting it was a similar situation now. 

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The US Treasury Department authorized the production, delivery, and sale of Iranian oil on Monday, a move promised under an agreement reached by Washington and Tehran last week.

The general license, announced as the two sides continue talks aimed at reaching a final peace deal, allows the production, delivery, and sale of crude oil and petrochemical and petroleum products of Iranian origin through August 21.

“In line with the ongoing productive talks in Switzerland, Iran has committed to free and open transit in the Strait of Hormuz and to permit International Atomic Energy Agency (IAEA) inspectors into their country,” Treasury Secretary Scott Bessent said in a post on X/Twitter.

“As part of the framework, Treasury has issued a temporary 60-day general license authorizing the production, delivery, and sale of Iranian oil.”

Under the memorandum of understanding signed last week between Washington and Tehran, the United States agreed to issue waivers for the export of Iranian crude oil, petroleum products, and derivatives, as well as all associated services, including banking transactions, insurance, and transportation.

License includes crude oil, petrochemicals, petroleum products

Transactions authorized under Monday’s general license include the importation of Iranian-origin crude oil, petrochemicals, and petroleum products into the United States.

The license says Iranian oil can be imported into the United States under the waiver when necessary to complete its sale or delivery.

It does not authorize transactions involving North Korea or Cuba, both of which are heavily sanctioned by the United States.

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Mr. President, I write this simply trying to understand what you want from us, your once biggest fans in the promised land.

An open letter to the president of the United States:

Dear President Trump,

There’s an endless noise going around Israel right now. We hear it on the radio, we hear it at the Shabbat table, and we hear it from our friends and family, and Americans are asking about it too.

What happened to you? Where is our history’s most pro-Israel president? For years you were the one who showed up for us as fair-weather fans ran away. Now, we turn on the news, and you sound like a different man, a different president, and honestly, we can’t work out what we did to deserve it.

You signed a deal with Iran, Israel’s eternal enemy, giving Tehran things we never thought an American president would ever put on the table. This deal tells us to pull back from the one border where our soldiers are still dying.

The safety of our children is non-negotiable

And you let Pakistan run the talks. This week, the Americans, the Iranians, and the Pakistanis sat down together to decide the future of southern Lebanon. That’s our North, our border, where our kids fight to protect us. That’s the line Hezbollah crosses to get to our kids.

I keep trying to make sense of it, and I can’t. How did Iran and Pakistan get a say over whether a family in the Galilee sleeps through the night, and we’re the ones being told to leave?

Maybe I understand part of it. You’re a man who runs on relationships. When one of them goes bad, everything around it goes cold with it. And if you’ve had it with Prime Minister Netanyahu, look, you wouldn’t be the first, and that’s between the two of you.

But please hear me on this one thing: What’s between our two countries is so much bigger than any one prime minister. It’s bigger than a phone call that went badly. There are 10 million of us living here who never signed that deal. We’re not your fight with Bibi. Don’t make all of us pay for one friendship that disappointed you.

And we’re not naive about it. You’ve got your reasons, and some of them have nothing to do with us. There’s an election coming. Gas got expensive, and now it isn’t. A long war is a hard thing to keep selling back home. We get it, we really do.

I’m not writing this to attack you, and I’m not going to sit here and pretend Israel is an easy country to defend right now. I’m just trying to tell you how it actually feels over here. Your briefings probably won’t.

Israel hasn’t forgotten the good you have done for its people

Your own vice president said the harshest truth anyone’s said to us in years. He called you the only leader in the whole world who still feels for Israel. It was hard to hear, and maybe we needed to hear it.

Still, it stung; hard truths usually do. Because if he’s right, and I think he is, then we’re alone in the desert, once again wandering, praying, and hoping for a miracle. That miracle, once again, is you. One man.

That’s why this scares us as much as it does. When you’ve got one friend left, and he starts pulling away, you stop caring what the policy is called. You just feel it.

And we haven’t forgotten what you did for us. We won’t, and if we did, history would remind us.

You brought our hostages home when most of us had quietly given up believing it could happen.

You moved the embassy to Jerusalem and said out loud what this city is, ours.

You made the Abraham Accords out of nothing and gave us neighbors where we’d only ever had enemies.

We are a people that has been let down by almost everyone, over and over, for a very long time. We have grown a thick skin and gotten used to being condemned, but not by you. You were the one who actually did things instead of just talking about them. That’s why this hurts the way it does. You don’t feel like this about a stranger.

So, please understand what this is: We are not a country bashing you. We are a country that’s confused, and honestly heartbroken, trying to read a friend who suddenly went quiet on us.

We’re not asking you to fight or fund our wars. We’re not asking for blank checks. We’re asking you to just tell us, in plain words, what you want from us, because we can’t find it anywhere in the statements, and we’re worn out from guessing.

Israel needs you. I’m not going to dress that up to save face. A lot of us feel forgotten right now. Some of us feel thrown under the bus by the one person we were sure never would.

We have wandered before. We’d rather not wander again, and we’d rather win – with you by our side.

In friendship and gratitude,

Zvika Klein

Jerusalem

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American homeowners took an estimated $47 billion in cash out of their houses during the first three months of 2026, according to the June ICE Mortgage Monitor report from Intercontinental Exchange, a financial markets technology and data company. The figure, reported this week, was the most for a first quarter since 2021.

Home equity is simply the gap between what a house is worth and what the owner still owes on the mortgage. Years of rising home prices in the early 2020s left millions of owners sitting on large amounts of it — and the new data shows they are increasingly willing to borrow against it. Across the country, homeowners are now sitting on roughly $35 trillion in total home equity, according to the Federal Reserve, a vast cushion that helps explain why lenders are competing harder for this business.

The $47 billion was down slightly from $49 billion in the final quarter of 2025 but up from $46 billion in the first quarter of 2025. About 54% of the borrowing came through home equity lines of credit, known as HELOCs, and home equity loans, with the rest from cash-out mortgage refinancing, where a homeowner replaces their existing mortgage with a bigger one and pockets the difference.

The reason so many owners chose HELOCs and second loans comes down to what the industry calls the “lock-in effect.” Millions of people locked in mortgage rates below 4% between 2020 and 2022. Refinancing the whole loan today would mean giving up that cheap rate for one near 7%. So instead of touching the first mortgage, they take out a second loan on top of it. ICE estimates 3.9 million homeowners who took out primary mortgages between 2020 and 2022 now also carry a second lien.

The detail underneath the headline shows two different groups. Cash-out refinancing jumped 18% from a year earlier, to about 234,000 borrowers, who withdrew a combined $22 billion — an average of roughly $93,000 each. Meanwhile, 248,000 homeowners used a second lien such as a HELOC, withdrawing $25 billion. Nearly half of the cash-out refinancers had loans from 2023 or later, when rates were already high, so they had less to lose by refinancing.

Part of what is pulling people in is cheaper short-term borrowing. The average second-lien HELOC rate fell to 6.6% in March, its most attractive level since late 2022, letting a borrower access $50,000 for a monthly payment of about $275. Longer fixed-rate home equity loans are pricier: Bankrate put the average five-year home equity loan at 8.12% and the 15-year version at 8.2% as of early June.

But there is a catch that could change the math fast. Most HELOCs are tied to the prime rate, which moves with the Federal Reserve. Andy Walden, head of research at ICE, noted that latest market bets put roughly a 70% probability that the Fed’s next rate move will be an increase. If that happens, HELOC payments would rise with it, since these loans carry variable rates that reset when the Fed acts. Under Fed Chair Kevin Warsh, policymakers have leaned toward higher rates to fight energy-driven inflation, making a cut less likely in the near term.

Homeowners typically tap equity for home improvements, paying off higher-interest credit-card debt, covering emergencies, funding tuition costs, or handling other major expenses. Used carefully, it can be cheaper than other forms of borrowing. The risk is that the house itself is the collateral. Miss enough payments on a HELOC or home equity loan and the lender can move to foreclose — a far higher stake than falling behind on a credit-card bill.

The bigger picture is a housing market that has slowed but not reversed. Price growth has cooled, which means there is less new equity to tap than a year ago, and that is one reason withdrawals dipped from the prior quarter. Even so, Americans are clearly treating their homes as a source of cash again. With borrowing costs stuck high and the Fed signaling no rush to cut rates, many homeowners appear willing to use the wealth they have already built rather than wait for cheaper financing.

For lenders, the trend is creating a new battleground. Traditional banks, credit unions, and online lenders are all competing for borrowers who are reluctant to refinance their primary mortgages but still want access to cash. For homeowners, however, the decision is becoming more complicated. The appeal of tapping equity is obvious, but so is the risk of taking on variable-rate debt in an environment where interest rates could move even higher.

The practical takeaway is straightforward: home equity remains one of the largest sources of available household wealth in America, and millions of homeowners are putting it to work. But with the Federal Reserve still focused on inflation and markets expecting rates to remain elevated, anyone considering a HELOC or home equity loan should pay close attention to how much that monthly payment could rise if borrowing costs move higher.

JBizNews Desk | Housing Markets

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Georgia residential land developers succeeded this year at convincing lawmakers that the permitting timeline needed to be faster and more predictable to dent the state’s growing housing imbalances.

Fresh off that win, they are now plotting their next legislative move. The Georgia Residential Land Development Council is targeting final plat approval — aiming to shorten timelines, lower expenses and reduce wait-time financial risks to bend housing cost curves toward more affordable levels.

In contrast with Florida and Texas, Georgia had done little to address housing supply and affordability. Permitting reform was the first significant legislation to pass.

“The elephant in the room we are not tackling is zoning and land use,” Jay Knight, a GRLDC co-founder, told HousingWire TBD. “It’s a conversation that needs to be had, but it’s going to be a really long battle … and it becomes a philosophical argument. So far, we’ve been able to confine our arguments to math and logic.”

Defining the math

Knight uses his own company, Templar Development, as an example. After putting in roads, curbs and other infrastructure, the company’s monthly interest expense runs at a rate of $70,000, after submitting its plat in April.

Delays in the approval process add to that monthly baseline cost, and push the end price higher. The National Association of Home Builders has documented how rising regulatory costs increase home prices, making housing less affordable.

In a study released this month, the association found regulatory costs have risen 40% in five years. Regulations at all government levels added an average of $131,734 to a new single-family home’s cost. That represented 26.4% of the $499,500 average sales price of a home in January.

“This study illustrates how excessive regulation is deepening the nation’s housing affordability crisis and making it harder for builders to deliver the affordable, attainable housing that our nation sorely needs,” said Bill Owens, NAHB chairman and Ohio home builder, in a statement.

The GRLDC’s Knight cited studies showing that for every $1,000 increase in cost, 4,100 Georgians are priced out of buying a home.

Building “shot clocks”

The rising cost of permitting drew more attention during the COVID-19 pandemic as home prices and construction costs skyrocketed. Only a handful of states have addressed the permitting side of the equation: Texas, Florida, California, North Carolina and Washington. With the exception of North Carolina, the others also passed zoning reforms that preempt local government authority, allowing density increases and residential uses “by right” in commercial zones.

Most permit shot clocks address the front end of the process. That is where Knight and his organization started. Knight said the permitting process in Georgia dropped from about a year to 10 weeks.

“That’s very consequential,” he said.

His group is now working the back end with final plat review. One challenge: planning officials restart the existing 30-day statutory review clock, and that can repeat nearly without end.

Knight said the proposal calls for 45 days to complete a review. A resubmittal review would drop to 20 days. A third submittal would drop further to 14 days.

All subsequent reviews must work from the initial comments – no new comments allowed, Knight said. Those first comments must also be limited to local codes.

“We were getting turned down for font sizes, page numbering and all kinds of stuff,” Knight said.

The GRLDC points to a model in Texas for putting hard deadlines on final plat review and approval.

Texas stepped up

The Lone Star State set one of the country’s strictest deadlines for residential plat approvals — and built automatic approval into the law as the penalty for missing it.

Its legislature acted in 2019 and gave municipalities 30 calendar days to approve, conditionally approve, or deny a residential plat. Miss the deadline, and the plat is automatically deemed approved under state law.

The legislature sharpened the law in 2023. Cities can no longer pad application requirements with studies or documents not explicitly authorized by state statute. The 30-day clock starts only when a complete application is filed — but cities cannot require applicants to waive that deadline under any circumstances.

Once a city issues a denial or conditional approval, the developer responds in writing. The city then has just 15 days to act on the resubmittal. Fail to meet that window, and the plat is deemed approved again.

If a city still refuses to issue approval after missing either deadline, developers have a legal remedy. They can obtain a certificate of no action, which carries the same legal force as a formal approval. Courts have upheld actions to compel uncooperative officials to produce that certificate.

Texas lawmakers took the permit-to-plat shot-clock rules even further in 2025.

Developers can now hire licensed third-party professionals to review plats when a city stalls. That option gives applicants a parallel track entirely outside the municipal review process.

The cost of waiting

Research suggests hard deadlines deliver results beyond the permit office. A 2026 study by Princeton economist Evan Soltas and MIT economist Jonathan Gruber found developers pay a 50% premium for land with pre-approved permits in Los Angeles, one of the most expensive housing markets in the country.

Researchers found that L.A.’s permitting timelines are roughly twice as long as those in Fort Worth.

The researchers estimated that reducing approval timelines to Texas-level speeds could cut development costs equivalent to 21% of construction costs. Texas is far from immune to affordability pressures. Home prices there have climbed sharply since the pandemic.

But its streamlined approval process has kept it among the more accessible large-state markets in the country, and its shot-clock framework is now the model that Georgia developers want to replicate.

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Starbucks is taking its corporate layoffs international, cutting office jobs in the United Kingdom and Hong Kong as chief executive Brian Niccol pushes the next phase of his turnaround at the world’s largest coffee chain. The company confirmed in mid-June that the reductions hit back-office and support staff, not the baristas who work behind the counter. It is the first time the current restructuring has reached Starbucks’ overseas support teams in a meaningful way.

The move was no surprise. Back in May, when Starbucks cut about 300 corporate jobs in the United States and shut several regional offices, the company told regulators and reporters that its overseas teams were next. In a statement at the time, a Starbucks spokesperson said the company was reviewing its international support organization and expected additional role impacts outside the U.S. A securities filing spelled out the same plan in writing.

That plan has now landed in two of Starbucks’ biggest hubs outside North America.

In Hong Kong, the cuts fall on the company’s regional corporate office, known internally as the Hong Kong Support Center. It is not a store — it is the back office that runs Starbucks’ business across 15 Asia-Pacific markets, including Australia, India, South Korea, Singapore, Indonesia and the Philippines. Staff there handle finance, marketing, store design, technology and supply chains for thousands of cafes across the region.

In the United Kingdom, the cuts hit Starbucks’ London-area corporate office. The company runs roughly 520 company-operated stores in Britain, along with close to 900 licensed locations run by partners. Those licensed cafes and their workers are operated separately and are not part of this round.

Why is this happening? The short answer is a man named Brian Niccol.

Niccol took over as chief executive of Starbucks in 2024 after turning around the burrito chain Chipotle Mexican Grill. He inherited a company with falling U.S. sales and a stock that had lost much of its value. His fix, branded “Back to Starbucks,” is built on two ideas: spend more on the actual coffeehouses and spend less on the layers of corporate staff above them.

That trade-off has meant repeated rounds of job cuts. Starbucks eliminated about 1,100 corporate roles in February 2025, then roughly 900 more non-retail jobs that September alongside store closures. Add this year’s reductions and the company has now removed close to 2,000 office positions in a year and a half.

The international cuts fit a bigger shift in how Starbucks wants to run its overseas business. Rather than owning and operating cafes in every country, the company is moving toward a licensing model, where local partners run the stores and pay Starbucks for the brand and the beans. Starbucks has said it wants nearly 90% of its international coffeehouses to be licensed. A licensor needs far fewer corporate staff than an operator does — which is exactly why the support offices are shrinking.

The numbers behind the overhaul are large. Starbucks is chasing about $2 billion in cost savings and has told investors the restructuring will carry roughly $400 million in charges, including about $120 million in severance and benefits for departing employees. Earlier this year the company also cut 61 technology jobs at its Seattle headquarters, with those exits running from late June into August.

For the workers losing their jobs, Starbucks has pointed to severance, extended health coverage and career assistance — the same package it offered during earlier rounds. The company has stressed in every announcement that store staff and the in-store experience are protected, because winning customers back inside the cafes is the whole point of the plan.

There is a customer angle too. Starbucks has spent the past year remodeling stores, bringing back ceramic mugs, simplifying its menu and adding seats and power outlets — all aimed at recreating the comfortable “third place” atmosphere that once set it apart from competitors. The corporate cuts are meant to help pay for that effort.

Whether it works remains an open question. Starbucks has reported periods of improving U.S. sales as the turnaround gained traction, and its shares have recovered from their lows. But the company is still closing stores in some markets, still negotiating with unionized baristas at home, and still asking office workers around the world to absorb the cost of the reset.

For now, the message from Seattle is consistent: fewer people in the back office, more money in the cafes. In mid-June, that message reached London and Hong Kong.

JBizNews Desk | Seattle
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British lawmaker Andy Burnham, the frontrunner to replace Keir Starmer as prime minister, said on Monday that there were many steps ahead when asked if he planned to call a general election.

When asked by a BBC journalist if he would call an election, which he could only do if he became leader of the Labour Party, Burnham said: “You’re jumping several hurdles ahead there.”

Starmer announced he was stepping down earlier on Monday.

Burnham, who was asked the question as he arrived in London from Manchester, is the only lawmaker to date to have confirmed he will enter the leadership contest, with nominations due in by mid-July.

This is a developing story.

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Tel Aviv University has risen in the latest QS world rankings from 223 to 208, despite the growing boycott of Israeli academia since the war began in 2023.

Tel Aviv University is the highest-ranked Israeli university followed by the Hebrew University of Jerusalem, which rose from 240 to 218, and the Technion – Israel Institute of Technology in Haifa, which rose from 350 to 334. The rankings include 1,500 universities worldwide.

While Tel Aviv University has improved its ranking in recent years, in years gone by it would regularly appear in the world’s top 200 universities.

Some Israeli universities fell in the rankings, while American and UK schools rank highest

Ben Gurion University of the Negev in Beersheba was ranked 533, Bar-Ilan University was ranked 711-720 and University of Haifa was ranked 801-850. All these universities were ranked lower than last year.

Reichman University, Ariel University and the University of Kiryat Shmona, all relatively new universities, were unranked.

The world’s top five universities this year are: Massachusetts Institute of Technology (MIT); Imperial College London; Stanford University; University of Oxford; and Harvard University.

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Good morning. Here’s a poem for the first Monday of (official) summer. As Alex Dimitrov writes, “Unfortunately / for me and you, we have / the rest of it to get to.” Let’s get to it. 

A looming threat to health disparities research in NIH grant proposal

Since the Trump administration announced its plan to overhaul the federal grantmaking process to give more power to political appointees, researchers have expressed alarm at the potential impact such a change could have on American science. And within the 412-page proposal, there’s one particular section that health disparities researchers say could disqualify their work from federal funding — a change that poses perhaps the biggest threat yet to the future of their field.

Continue to STAT+ to read the full story…

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British Prime Minister Keir Starmer said Monday he will resign, speaking outside 10 Downing Street less than two years after he led the Labour Party to a landslide election victory. He said he had already informed King Charles III of his decision Monday morning and would stay in office until his party chooses a new leader.

“I have heard the answer from my parliamentary party. I accept that answer with good grace,” Starmer said, calling his walk up Downing Street two years ago the proudest moment of his life. The departure makes him the shortest-serving Labour prime minister in history.

He set a clear timetable. Starmer will remain in the job until a successor is formally chosen, with a new leader expected in place by the time Parliament returns in September. If a single candidate runs unopposed, the handover could happen within weeks.

Financial markets had been bracing for the news for days, and the reaction split three ways. The pound slipped below $1.32 for the first time in three months, trading around $1.319, down about 0.3% on the day. Sterling has now lost roughly 3% since February as Starmer’s grip on power weakened. Against the euro it eased to about 86.76 pence.

Government bonds, known as gilts, told a different story. The yield on the 10-year gilt held near 4.85%, close to its highest level since 2008 and above what other major economies pay to borrow. Higher yields mean it costs the U.K. government more to borrow, and investors are demanding that premium because they are unsure what the next leader will do on spending and taxes.

The stock market barely flinched. The FTSE 100 was little changed, near 10,357 points. Most of the companies in that index earn their money abroad in dollars, so a weaker pound actually makes those overseas profits look bigger when converted back home. The more domestic FTSE 250 is the index to watch if borrowing costs climb and British consumers pull back.

The collapse in support was years in the making. Starmer won a huge majority in July 2024, but heavy losses in May’s local elections, sinking poll numbers and a revolt among his own lawmakers wore him down. His net favorability had fallen to about -45% in the past week. Scandals over scrapped winter fuel payments for pensioners, free gifts to ministers and the fallout involving Lord Peter Mandelson all chipped away at his standing.

The clear favorite to replace him is Andy Burnham, the former mayor of Greater Manchester. Burnham won a by-election in Makerfield last week and was sworn in as a member of Parliament on Monday. He said he would put himself forward and urged an orderly, responsible handover. Investors are wary of him. He has leaned toward a more interventionist, higher-spending approach in the past, though he has worked recently to reassure the bond market.

Starmer’s exit hands Britain its seventh prime minister in a decade, almost exactly 10 years after the country voted to leave the European Union. David Cameron, Theresa May, Boris Johnson, Liz Truss and Rishi Sunak all came and went in that span. The most painful market memory is Truss, whose 2022 package of unfunded tax cuts sent gilt yields soaring and the pound tumbling within days.

For households and businesses, the most immediate effect is the weaker pound. A softer currency makes imported goods, foreign holidays and anything priced in dollars more expensive. Companies that buy parts or materials from overseas suppliers will feel it in their costs, and some of that filters down to ordinary shoppers.

The deeper question is fiscal. Chancellor Rachel Reeves has held the government to a tight budget framework, and markets want to know whether the next prime minister will stick to it. Susannah Streeter, chief investment strategist at Wealth Club, said investors will pay a premium for stability and a clear long-term economic plan after years of political churn. Kallum Pickering, chief economist at Peel Hunt, said Britain borrows too much but is not an outlier compared with other big economies.

Some analysts argued the bigger driver for global markets on Monday was not Westminster at all. Andreas Lipkow of CMC Markets said traders were focused more on the U.S.-Iran talks and energy prices than on British political drama.

Here is the plain bottom line. The resignation was expected, so markets did not panic. The real test comes next: whoever takes over will have to convince nervous investors, and a watching public, that Britain’s finances are in steady hands.

JBizNews Desk | New York

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New Education Department discount offers modest savings for borrowers who enroll in automatic payments, but millions already in default get no relief.

The U.S. Department of Education announced Thursday that it will temporarily reduce federal student loan interest rates by one percentage point for borrowers who enroll in automatic payments, a move the Trump administration says will make repayment easier and encourage borrowers to stay current on their loans.

Education Undersecretary Nicholas Kent described the initiative as a way of “making student loan repayment easier than ever.” The discount begins July 1, 2026, and is scheduled to remain in effect through June 30, 2028.

The program, however, excludes one of the largest groups of struggling borrowers: the roughly 9 million Americans currently in default on their federal student loans.

To receive the lower interest rate, borrowers must first return their loans to good standing before they can enroll in automatic payments and qualify for the discount.

The interest-rate reduction applies only to federal Direct Loans issued after July 1, 2012, and borrowers must enroll in auto pay by Sept. 30 to lock in the benefit.

The Education Department hopes the program will encourage more borrowers to use automatic payments. According to federal officials, only about 40% of borrowers currently in repayment are enrolled in auto pay, down sharply from more than 80% before the pandemic disrupted normal repayment patterns.

While the announcement drew attention, the actual financial savings are relatively modest.

Higher-education expert Mark Kantrowitz estimated that a borrower with a $10,000 loan would save roughly $8 per month if their interest rate falls from 6.5% to 5.5%.

A borrower carrying $50,000 in student debt would save approximately $26 per month if their interest rate declines from 8% to 7%.

Borrowers already enrolled in auto pay receive even less additional relief because they currently receive a 0.25 percentage-point interest-rate discount. For them, the new program effectively provides only an additional 0.75 percentage-point reduction.

For example, new undergraduate federal loans issued on or after July 1 carry an interest rate of 6.52%. Under the new program, that rate would fall to 5.52% for eligible borrowers who sign up for automatic payments.

The timing comes as student loan repayment challenges continue to mount.

The Federal Reserve Bank of New York reported that 10.3% of student loans were delinquent during the first quarter of 2026, the highest level in six years and dramatically higher than the rate recorded in mid-2024.

The nation’s federal student loan portfolio now totals nearly $1.7 trillion, owed by more than 42 million borrowers.

Federal officials argue that encouraging automatic payments will improve repayment performance because borrowers using auto pay are generally less likely to miss payments and enter delinquency or default.

For the millions already in default, however, financial pressures are increasing rather than easing.

The Education Department has begun sending notices to borrowers whose federal benefits could soon be intercepted through the Treasury Offset Program, which allows the government to collect unpaid debts by withholding federal payments.

Approximately 195,000 borrowers have already received 30-day warning notices.

The program can intercept federal tax refunds, Social Security payments, and other government benefits to recover unpaid student loan balances.

Betsy Mayotte, president of The Institute of Student Loan Advisors, has warned that default often becomes far more expensive than simply making scheduled payments.

According to Mayotte, the amount seized through government collection efforts is frequently larger than what the borrower’s regular monthly payment would have been.

Borrowers seeking to regain eligibility for the new interest-rate discount generally have two options.

The first is loan rehabilitation, which requires borrowers to make nine affordable payments over ten months. Successfully completing rehabilitation removes the default notation from a borrower’s credit report.

The second option is loan consolidation, which restores loans to active repayment more quickly but leaves the default history visible on the borrower’s credit record.

Either path allows borrowers to return to good standing and eventually qualify for automatic payments and the new interest-rate reduction.

The announcement also arrives amid broader changes to the federal student loan system.

Beginning July 1, several repayment programs introduced during the Biden administration, including the SAVE plan, are scheduled to be phased out.

They will be replaced by two new repayment options established under President Donald Trump’s education reforms: an income-based Repayment Assistance Plan and a Tiered Standard Repayment Plan.

Borrowers enrolled in income-driven repayment programs are unlikely to see meaningful changes in their monthly bills from the interest-rate reduction because their payments are determined primarily by income rather than loan interest rates.

Consumer advocates still generally recommend enrolling in automatic payments whenever possible because it reduces the likelihood of missed payments and provides at least some interest savings.

At the same time, experts advise borrowers to review statements regularly, noting that servicing errors and incorrect withdrawals have occasionally occurred in the past.

For borrowers who qualify, the new discount represents a small but immediate reduction in borrowing costs.

For the millions already in default, however, the program offers no direct relief until they first restore their loans to good standing—while federal collection efforts continue to expand.

JBizNews Desk
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A lot of “good progress” was made during the US-Iran talks in Switzerland, US Vice President JD Vance said on Monday afternoon, following the conclusion of the talks and the reported departure of the Iranian delegation.

He noted that the Strait of Hormuz is open, and that a “good foundation for a successful final deal” has been laid.

Speaking on the ongoing conflict between Israel and Hezbollah in Lebanon, Vance said that while “we want Israel’s security to be protected, we also want Lebanon’s sovereignty to be protected,” while acknowledging that it will be an “ongoing conversation.” 

“All parties want a regional ceasefire,” he said.

Regarding the frozen Iranian assets expected to be given back to Tehran under the deal, Vance said that the United States wanted to set up a process where “we want money to fund citizens, not terrorism.”

Technical talks will continue over the next few days and weeks to come, Vance affirmed.

On the nuclear program, Vance noted that the Iranians have formally agreed to invite inspectors from the International Atomic Energy Agency (IAEA) back to their nuclear sites. 

On Thursday, The Associated Press reported that  US envoy Steve Witkoff told US officials in a private briefing that Iran will invite the UN’s nuclear watchdog agency to inspect its nuclear sites and begin work on identifying enriched material sites.

“Nuclear inspections will start possibly this week,” Vance said, but could be “as soon as today.”

First day of US-Iran negotiations in Switzerland concludes

The conclusion of the first session of talks was 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 reports of 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.

Additionally, 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.

The US and Iran also agreed to the creation of a “deconfliction cell,” through which the termination of Israeli military operations in Lebanon would be assured.

This post was originally published on here

A lot of “good progress” was made during the US-Iran talks in Switzerland, US Vice President JD Vance said on Monday afternoon, following the conclusion of the talks and the reported departure of the Iranian delegation.

He noted that the Strait of Hormuz is open, and that a “good foundation for a successful final deal” has been laid.

Speaking on the ongoing conflict between Israel and Hezbollah in Lebanon, Vance said that while “we want Israel’s security to be protected, we also want Lebanon’s sovereignty to be protected,” while acknowledging that it will be an “ongoing conversation.” 

“All parties want a regional ceasefire,” he said.

Regarding the frozen Iranian assets expected to be given back to Tehran under the deal, Vance said that the United States wanted to set up a process where “we want money to fund citizens, not terrorism.”

Technical talks will continue over the next few days and weeks to come, Vance affirmed.

On the nuclear program, Vance noted that the Iranians have formally agreed to invite inspectors from the International Atomic Energy Agency (IAEA) back to their nuclear sites. 

On Thursday, The Associated Press reported that  US envoy Steve Witkoff told US officials in a private briefing that Iran will invite the UN’s nuclear watchdog agency to inspect its nuclear sites and begin work on identifying enriched material sites.

“Nuclear inspections will start possibly this week,” Vance said, but could be “as soon as today.”

First day of US-Iran negotiations in Switzerland concludes

The conclusion of the first session of talks was 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 reports of 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.

Additionally, 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.

The US and Iran also agreed to the creation of a “deconfliction cell,” through which the termination of Israeli military operations in Lebanon would be assured.

This post was originally published on here

Following the resignation of UK Prime Minister Keir Starmer on Monday, Labour MP Andy Burnham announced his intention to run to replace him.

Burnham has held the position of Mayor of Greater Manchester since May 2017, only leaving the role last week after winning the local by election in Makersfield. He is seen as the leading candidate for Labour Party leadership.

Significant attention is now on Burnham regarding his stances on Israel, Gaza, and antisemitism.

So what does the potential new prime minister of the UK have to say on these topics?

Jews and antisemitism

Burnham has a long history of calling out antisemitism, especially within his own party.

In 2018, he tweeted calling for his party to take a firmer stand against antisemitism. Then, in 2019, while the Labour Party was still under the leadership of Jeremy Corbyn, Burnham told the Board of Deputies at Manchester Town Hall that it is “inconceivable to me that a party which has prided itself on its record on racism could have become in embroiled in an antisemitism crisis.”

“Racism needs to be dealt with firmly, quickly and decisively. I’m afraid that this hasn’t been the response so far and I hope from this point forward this has been understood,” he said.

Burnham was Mayor of Manchester when two were killed and several wounded in an antisemitic terror attack outside a Manchester synagogue on Yom Kippur 2025.

Burnham was one of the first officials to speak publicly about the attack, telling BBC Radio Manchester at around 10:30 a.m., that a “serious incident” had taken place less.

He later took to X to condemn the “vile attack on our Jewish community on its holiest day.”

“We stand with GM’s Jewish community at this time and will work through the day to support them,” he said.

In a recent interview with Jewish News, Culture Secretary Lisa Nandy described Burnham as a “great ally” in the fight against antisemitism and one who will stand with the Jewish community “always.”

“He believes in justice, so is acutely aware of the need for a safe homeland for Jewish people, and the particularly unique historical reasons why Israel came into existence,” she said.

Burnham has also been actively supportive of Holocaust remembrance and education.

Recently, in January 2026, Burnham attended a Holocaust Memorial Day service with the Jewish Representative Council of GM & Region (JewishMCR).

There, Burnham “reaffirmed his commitment to standing firmly against anti‑Jewish racism, invoking the words of the late Mancunian Holocaust Survivor Ike Alterman BEM, who taught us that hate is a disease,” according to the JRCMCR.

JRCMCR chair Mark Adlestone has praised Burnham’s longstanding partnership with local Jewish organizations and his solidarity in times of distress.

Adlestone did however recently tell Jewish News that it would be “disingenuous to suggest there have not been times when there have been disagreements.” He cited Burnham leading a call for a ceasefire post 7 October, whilst hostages remained in captivity, as an example of when there has been friction.

Oct. 7 and the Israel-Hamas War

Burnham was Manchester Mayor at the time of the October 7 Hamas attacks. On the 13 October 2023, about a week later, he released a statement condemning “without reservation the appalling attacks in Israel by Hamas.”

“Nothing justifies the taking of innocent lives in such a barbaric and indiscriminate manner,” he said.

He also acknowledged the heightened concerns of many members of Manchester’s Jewish community and said he had spoken to the Chief Constable of Greater Manchester Police who assured that there would continue to be an increased police presence in all areas of the city-region with Jewish community organizations.

Burnham also said that, while people must always be free to demonstrate peacefully and display flags if that is their wish, it is not acceptable to display “flags being used to provoke confrontation, displaying the flags of proscribed organisations or the making of inciteful, hateful and inflammatory statements.”

He then added that “Israel has the right to defend itself, and protect its citizens, in line with international law.”

However, just under two weeks later, on October 27, Burnham, along with the deputy mayor and local councillors, released a statement calling for a ceasefire, at a time when hostages were still being held by Hamas.

“We condemn unreservedly the appalling terror attacks on innocent civilians in Israel by Hamas on 7th October” the statement read, however adding “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.”

“Given the humanitarian disaster unfolding in Gaza, the Mayor, Deputy Mayor and the ten Leaders of Greater Manchester join the growing international calls for a ceasefire by all sides and for the hostages to be released unharmed.”

This was criticized by the Adlestone of the JRCMCR, who said that “although much of the content was well constructed and demonstrated an awareness of the situation’s complexity, I agreed with the majority in our community that the request gave insufficient weight to Israel’s right and obligation to defend her citizens.”

At the start of this month, Burnham notably declined to describe Israel’s actions in Gaza as genocide, causing significant upset within the pro-Palestine space.

Burnham was reportedly asked about foreign policy during an interview with the Guardian and allegedly declined to say Israel has committed genocide, explaining: “I can’t judge things of that enormity from where I am as mayor of Greater Manchester.”

Pro-Palestinian activists and left-wing media sites have since been circulating a video clip from the 2015 Labour Leadership Election where Burnham said: “The first country I will visit if elected is Israel” and called the Boycott, Divestment and Sanctions (BDS) movement “spiteful.”

Burnham has however repeatedly affirmed his support for a two-state solution. In May 2015, he responded to a survey of candidates by Palestine Solidarity Campaign in which he said “I fully support two states living side by side in peace, and recognised by all of their neighbours.”

He said “Palestinian statehood is not a gift to be given but a right to be recognised” and noted that he urged the UK government in both 2011 and in 2012 to support the Palestinian bid for recognition at the UN.

He also called for “an end to occupation and illegal settlement building by the Israelis, and an end to the rocket and terror attacks by the terrorist group Hamas.”

“Labour recognises that the settlements and their continued expansion remain key obstacles to resolving the conflict, as Ed Miliband has said, they are both illegal and immoral. We are clear, however, that the threat of boycotts of Israel is the wrong response. Labour has taken and will maintain domestic action to introduce labelling transparency, and will seek a Europe-wide approach to settlement products,” he said.

This post was originally published on here

Following the resignation of UK Prime Minister Keir Starmer on Monday, Labour MP Andy Burnham announced his intention to run to replace him.

Burnham has held the position of Mayor of Greater Manchester since May 2017, only leaving the role last week after winning the local by election in Makersfield. He is seen as the leading candidate for Labour Party leadership.

Significant attention is now on Burnham regarding his stances on Israel, Gaza, and antisemitism.

So what does the potential new prime minister of the UK have to say on these topics?

Jews and antisemitism

Burnham has a long history of calling out antisemitism, especially within his own party.

In 2018, he tweeted calling for his party to take a firmer stand against antisemitism. Then, in 2019, while the Labour Party was still under the leadership of Jeremy Corbyn, Burnham told the Board of Deputies at Manchester Town Hall that it is “inconceivable to me that a party which has prided itself on its record on racism could have become in embroiled in an antisemitism crisis.”

“Racism needs to be dealt with firmly, quickly and decisively. I’m afraid that this hasn’t been the response so far and I hope from this point forward this has been understood,” he said.

Burnham was Mayor of Manchester when two were killed and several wounded in an antisemitic terror attack outside a Manchester synagogue on Yom Kippur 2025.

Burnham was one of the first officials to speak publicly about the attack, telling BBC Radio Manchester at around 10:30 a.m., that a “serious incident” had taken place less.

He later took to X to condemn the “vile attack on our Jewish community on its holiest day.”

“We stand with GM’s Jewish community at this time and will work through the day to support them,” he said.

In a recent interview with Jewish News, Culture Secretary Lisa Nandy described Burnham as a “great ally” in the fight against antisemitism and one who will stand with the Jewish community “always.”

“He believes in justice, so is acutely aware of the need for a safe homeland for Jewish people, and the particularly unique historical reasons why Israel came into existence,” she said.

Burnham has also been actively supportive of Holocaust remembrance and education.

Recently, in January 2026, Burnham attended a Holocaust Memorial Day service with the Jewish Representative Council of GM & Region (JewishMCR).

There, Burnham “reaffirmed his commitment to standing firmly against anti‑Jewish racism, invoking the words of the late Mancunian Holocaust Survivor Ike Alterman BEM, who taught us that hate is a disease,” according to the JRCMCR.

JRCMCR chair Mark Adlestone has praised Burnham’s longstanding partnership with local Jewish organizations and his solidarity in times of distress.

Adlestone did however recently tell Jewish News that it would be “disingenuous to suggest there have not been times when there have been disagreements.” He cited Burnham leading a call for a ceasefire post 7 October, whilst hostages remained in captivity, as an example of when there has been friction.

Oct. 7 and the Israel-Hamas War

Burnham was Manchester Mayor at the time of the October 7 Hamas attacks. On the 13 October 2023, about a week later, he released a statement condemning “without reservation the appalling attacks in Israel by Hamas.”

“Nothing justifies the taking of innocent lives in such a barbaric and indiscriminate manner,” he said.

He also acknowledged the heightened concerns of many members of Manchester’s Jewish community and said he had spoken to the Chief Constable of Greater Manchester Police who assured that there would continue to be an increased police presence in all areas of the city-region with Jewish community organizations.

Burnham also said that, while people must always be free to demonstrate peacefully and display flags if that is their wish, it is not acceptable to display “flags being used to provoke confrontation, displaying the flags of proscribed organisations or the making of inciteful, hateful and inflammatory statements.”

He then added that “Israel has the right to defend itself, and protect its citizens, in line with international law.”

However, just under two weeks later, on October 27, Burnham, along with the deputy mayor and local councillors, released a statement calling for a ceasefire, at a time when hostages were still being held by Hamas.

“We condemn unreservedly the appalling terror attacks on innocent civilians in Israel by Hamas on 7th October” the statement read, however adding “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.”

“Given the humanitarian disaster unfolding in Gaza, the Mayor, Deputy Mayor and the ten Leaders of Greater Manchester join the growing international calls for a ceasefire by all sides and for the hostages to be released unharmed.”

This was criticized by the Adlestone of the JRCMCR, who said that “although much of the content was well constructed and demonstrated an awareness of the situation’s complexity, I agreed with the majority in our community that the request gave insufficient weight to Israel’s right and obligation to defend her citizens.”

At the start of this month, Burnham notably declined to describe Israel’s actions in Gaza as genocide, causing significant upset within the pro-Palestine space.

Burnham was reportedly asked about foreign policy during an interview with the Guardian and allegedly declined to say Israel has committed genocide, explaining: “I can’t judge things of that enormity from where I am as mayor of Greater Manchester.”

Pro-Palestinian activists and left-wing media sites have since been circulating a video clip from the 2015 Labour Leadership Election where Burnham said: “The first country I will visit if elected is Israel” and called the Boycott, Divestment and Sanctions (BDS) movement “spiteful.”

Burnham has however repeatedly affirmed his support for a two-state solution. In May 2015, he responded to a survey of candidates by Palestine Solidarity Campaign in which he said “I fully support two states living side by side in peace, and recognised by all of their neighbours.”

He said “Palestinian statehood is not a gift to be given but a right to be recognised” and noted that he urged the UK government in both 2011 and in 2012 to support the Palestinian bid for recognition at the UN.

He also called for “an end to occupation and illegal settlement building by the Israelis, and an end to the rocket and terror attacks by the terrorist group Hamas.”

“Labour recognises that the settlements and their continued expansion remain key obstacles to resolving the conflict, as Ed Miliband has said, they are both illegal and immoral. We are clear, however, that the threat of boycotts of Israel is the wrong response. Labour has taken and will maintain domestic action to introduce labelling transparency, and will seek a Europe-wide approach to settlement products,” he said.

This post was originally published on here

Alan Greenspan, hailed as the greatest Federal Reserve chairman when he retired in 2006 but derided for the severe financial crisis that followed just two years later, died on Monday at age 100, NBC News reported.

Greenspan, who exerted a powerful influence on the US economy during his tenure at the helm of the Fed from August 1987 to January 2006, died at his home from complications of Parkinson’s Disease, NBC reported, citing his wife Andrea Mitchell, who is the outlet’s chief Washington correspondent.

Greenspan oversaw the second-longest economic expansion in US history, an uninterrupted decade of growth from March 1991 to March 2001. His decision to let the economy run – despite pressure to raise interest rates amid an inflation threat that never materialized – helped foster years of US prosperity and earned him rock-star status as an economic “maestro.”

The era was marked by his prescient judgment that a productivity surge in the mid-1990s would keep inflation contained.

His intuition in that moment remains a touchstone for policymakers and has been cited by former Fed chair Jerome Powell as an example of how judgment can sometimes outperform economic models.

However, the one-time jazz musician’s monetary policy acumen later came into question as critics attacked his policies for fueling a series of asset price bubbles and laying the groundwork for the 2007-2009 financial crisis.

“I think the deification that came just before the financial crisis was never really deserved, and I think the lambasting that he took after he left was never fully deserved either,” said Stephen Oliner, a former senior Fed official.

Greenspan’s strong response to 1987 market crash

Greenspan, who fell in love with math through an obsession with baseball statistics, won quick plaudits for a strong response to the Black Monday stock market crash of 1987, just two months after he took office.

He also steered the US economy through the 1990-91 recession, the 1997-1998 Asian and Russian financial contagion, the collapse of the dot-com stocks bubble in 2000, and the turbulent economic aftermath of the Sept. 11, 2001, attacks.

Along the way, biographer Sebastian Mallaby detailed, he became a consummate Washington power player able to maneuver presidents and cabinet secretaries into making the decisions he felt were best, sometimes without them realizing who pulled the strings.

At the Fed’s vaunted Jackson Hole gathering in 2005, two leading economists billed him as perhaps the greatest central banker of all time.

But when the housing price bubble that had grown during his final four years in office finally burst, it savaged his once-stellar reputation – along with the global economy.

Whatever Greenspan’s merits in the moment, his successors steadily pushed the Fed in a new direction, rolling out financial crisis response tools to address problems Greenspan had never confronted, such as zero interest rates, and shifting from opaque communications to more frequent speeches, a set inflation target, and regular press conferences.

In addition to critiques of his monetary policy, critics slammed Greenspan, a powerful advocate for light regulation of financial markets, for a hands-off approach that allowed banks to make disastrous bets on the housing market.

Greenspan subsequently admitted to being “shocked” that he had been wrong in assuming that bankers’ self-interest would deter them from taking actions that imperiled the survival of their own institutions.

“Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity, myself included, are in a state of shocked disbelief,” he told the House of Representatives Committee on Oversight and Government Reform in 2008.

But as apologies go in Washington, it fell far short of what his most ardent critics sought.

Some economists also felt the chairman, who never disguised that he was a Republican, dented his political independence by backing tax cuts in 2001 proposed by president George W. Bush, although he also worked closely with Democratic president Bill Clinton.

The second-longest-serving Fed chair behind William McChesney Martin, Greenspan was first tapped by president Ronald Reagan in 1987 and was later re-appointed by presidents George H.W. Bush, Bill Clinton, and George W. Bush.

He was 80 when he left the Fed in 2006, but moved smoothly into a new career as a consultant and adviser with his own firm, Greenspan Associates, offering insights on where he thought the economy was going for big fees.

At the Fed, Greenspan built on the successes of his predecessor, Paul Volcker, who stamped out the raging inflation of the late 1970s and early 1980s. Indeed, in his final few years at the central bank, Greenspan spent more time worrying about the risks of deflation taking hold than about high inflation re-emerging.

The ten-year expansion in the 1990s was fueled in part by a huge stock rally that, in 1996, Greenspan suggested might reflect an “irrational exuberance.” He later backed away from that comment, saying it was not his role to second-guess investors.

Greenspan was often referred to as the second most powerful person in the country, after the president, because of the central bank’s ability to influence the economy through changes in short-term interest rates.

Pensive, serious, and quiet, he laid out his views in elliptical testimonies and speeches that were parsed endlessly by pundits. He once warned an economists’ group that he spent a lot of his time worrying about being too clear.

“What I’ve learned at the Fed is a new language called ‘Fed speak.’ We learn to mumble with great incoherence,” he said.

He could speak in such a roundabout way that his wife, Andrea Mitchell, said she “just didn’t get it” the first few times he proposed marriage. The couple dated for 12 years before they married in April 1997. It was the second marriage for both of them.

Greenspan said he did his best thinking in the bathtub, indulging in baths that sometimes lasted two hours as he read reports and wrote speeches and public testimony.

Music came first

Born in New York City on March 6, 1926, Greenspan was the only child of Rose and Herbert Greenspan. His parents divorced when he was young, and he was raised in a small apartment in the Washington Heights section of New York with his mother and grandparents.

Greenspan’s first love was music, and he spent two years at New York’s Juilliard School studying the clarinet. He toured briefly with a swing band as a saxophone player before turning to the study of economics at New York University.

In his youth, Greenspan was a friend and associate of the novelist Ayn Rand, who espoused the supremacy of the free markets and the profit motive in books such as Atlas Shrugged and The Fountainhead.

Before his Fed years, he chaired the Council of Economic Advisers under president Gerald Ford in the 1970s. He also ran an economics consulting firm called Townsend-Greenspan and Co. for years.

When Greenspan succeeded Volcker, some worried he might not live up to his tough-minded, cigar-chomping predecessor.

But Greenspan soon proved his mettle by pumping liquidity into financial markets to calm the October 1987 stock market crash. His quick action, which is now seen as a textbook example of how to handle such crises, was credited with staving off a recession.

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AbbVie on Monday said it would buy Apogee Therapeutics, the developer of immunology drugs, for $10.9 billion in cash, continuing a run in which pharma companies have been scooping up biotechs.

The deal values Apogee at $135.11 per share, a roughly 50% premium on its previous closing price. The Financial Times reported last week the deal was in the works. 

Apogee’s lead drug, called zumilokibart, could be a long-lasting option for patients with a range of inflammatory diseases. It’s being tested in atopic dermatitis and, in combination with another experimental medicine, in asthma. The drug, which targets an inflammatory cytokine called IL-13 that drives a number of conditions, could be given to patients just two to four times a year after they start treatment. 

Continue to STAT+ to read the full story…

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STUTTGART, Germany — A Porsche sports car moves along the assembly line at the automaker’s main plant.

Porsche chief executive Michael Leiters said the German sports-car maker is pushing to finalize a new cost-cutting package before its summer factory shutdown in July. He laid out the timeline in an interview with Frankfurter Allgemeine Sonntagszeitung published Saturday, June 20, and reported more widely by Reuters.

Leiters said the company wants a deal with workers “before the factory holidays in July,” adding that Porsche employees deserve clarity about what lies ahead.

It would be the company’s second round of cuts in a short span, and it comes as earnings slide. Porsche’s operating profit dropped about 22% in the first quarter of 2026. Management has pointed to higher tariffs in key export markets, broader geopolitical turmoil, and temporary gaps in the model lineup as it phases out older cars and rolls in new ones.

The strain runs deeper than one weak quarter. Demand in China, once a key growth engine for luxury carmakers, has fallen sharply amid a brutal price war, and the costly shift toward electric vehicles has squeezed margins further.

Porsche has already said it will eliminate about 1,900 jobs over the next several years, on top of roughly 2,000 temporary workers it released last year. Leiters said the company is now planning for production below the roughly 280,000 vehicles it sold in 2025 — a sign management expects leaner years ahead.

The talks are unfolding with employee representatives and Germany’s powerful labor unions, which hold real sway over factory decisions at German automakers. Leiters framed the July target as a matter of fairness to staff, who he said need certainty before the annual break.

For Porsche workers, the package will determine how the job cuts are carried out and how production is reshaped. Cost-saving plans at carmakers often pair efficiency measures with protections for remaining roles, but the scale of Porsche’s pullback suggests difficult choices ahead.

For suppliers, the stakes are just as real. Porsche sits atop a long chain of parts makers and engineering firms, especially across Germany. Lower production volumes ripple straight down that chain as smaller orders.

Porsche is part of the Volkswagen Group, Europe’s largest carmaker, but runs with its own brand and strategy. Its troubles mirror a wider squeeze across the German auto industry, which is trying to fund the expensive move to electric vehicles while protecting profits today.

Luxury buyers are unlikely to see dramatic changes at the showroom soon. Porsche has said the measures are meant to protect investment in new models and technology, not cut corners on the cars. The aim is to defend the margins that have long made Porsche one of the most profitable names in the business.

Still, the broader luxury market has turned choppy. Some high-end segments remain resilient while others have softened as wealthy buyers grow cautious and China’s once-booming appetite cools. Porsche’s brand strength gives it a cushion, but executives have made clear discipline is now essential.

What comes next is the negotiation itself. Leiters wants terms settled before the factory holidays, with the measures taking shape over the second half of the year. The company is expected to give investors more detail on targets and timelines at its next earnings update.

The bigger picture is that even an icon like Porsche is not immune to the forces reshaping the car business — tariffs, a slowing China, and the heavy cost of going electric. How it balances those pressures against its reputation for performance and profit will matter to its workers, its suppliers, and the investors watching its margins.

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

Meta has quietly asked Congress to grant online platforms legal immunity from lawsuits over harm to children, a move that could wipe out thousands of cases already filed against the company. Meta Platforms has lobbied the U.S. Congress for legal immunity from child-harm claims tied to social media products such as Instagram, as it faces thousands of lawsuits from young users and their families, according to a source familiar with the matter and proposed legislative language reviewed by Reuters on June 18.

The vehicle would be a major children’s-safety bill. If adopted and passed as part of the Kids Online Safety Act (KOSA) under consideration in the Senate, the provision could undermine thousands of lawsuits against Meta and other online platforms over harms to children. The proposed language reviewed by Reuters would make online companies “immune from suit or liability under state law” for claims relating to children’s online safety, and appears alongside language that would preempt state laws on children’s safety and privacy.

The timing is pointed. Meta and Google’s YouTube face a combined $6 million in damages after they lost the first such case at trial earlier this year. A California woman won at trial against Meta and YouTube when her lawyers argued the companies knew features like infinite scrolling were addictive and harmful to youth; the companies plan to appeal. Securing immunity now would head off the wave of similar suits lining up behind it.

Meta is offering the language as a trade. The company proposed it in exchange for dropping its opposition to KOSA, the source said. Meta has previously called for federal standards that would require app stores to verify age and replace state laws on children’s online safety. The bill itself takes the opposite approach to the platforms’ design choices. Under KOSA, companies would be required to exercise care in deploying specific features including infinite scrolling, activity notifications, and appearance-altering photo filters.

So far, the sponsors are not biting. KOSA is sponsored by Sen. Marsha Blackburn, a Republican, and Sen. Richard Blumenthal, a Democrat, and a Blackburn spokesperson, asked about the specific liability provision, said: “We have not seen that proposed language and would never consider it.” Legislators have given no indication of adopting Meta’s language.

Critics say the stakes could not be higher for families. Julia Duncan of the American Association for Justice, which represents trial lawyers, said the provision would knock out any lawsuits pending when the law took effect, calling it “pretty clear-cut immunity against every parent, every school district, that is seeking to hold any AI or social media company accountable for harm” to children.

The fight is part of a larger legislative scramble. The bill is now wrapped into negotiations between Blackburn and the White House to package child-safety measures with a provision that would preempt some state laws on artificial intelligence — a separate but related effort by the tech industry to replace a patchwork of state rules with a lighter federal standard. The lobbying shows the kind of legal protection Meta is seeking amid the biggest attempt to regulate online platforms in the United States since the 1990s.

There is history here, too. KOSA passed the Senate in a 91-3 vote in 2024 but failed in the House, and its revival has reopened the same questions about how far Washington should go in policing how platforms are built for young users.

For Meta, the business logic is straightforward. The thousands of pending suits represent open-ended legal and financial exposure, and a single immunity clause tucked into popular safety legislation would resolve it in one stroke. Meta declined to comment on the lobbying effort.

For everyone else, the episode is a window into how high-stakes tech policy actually gets made — not in open debate over a single bill, but in the fine print traded behind closed doors, where a provision a sponsor says she would “never consider” can still end up shaping whether families ever get their day in court. The outcome will determine not just Meta’s liability, but whether parents, schools, and states retain the power to sue when they believe a platform’s design hurt a child.

JBizNews Desk | Washington

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

Israeli businessman Aaron Frenkel is planning a Nasdaq IPO for missiles and suicide drones company UVision Air, which he fully controls. UVision will try to raise money at a company valuation of $3-3.5 billion.

UVision will publish an initial prospectus next month, “Globes” has learned, ahead of completion of the move based on its first quarter financial report. This is after the company examined in recent months the possibility of bringing in Israeli institutional investors before the offering, at a valuation similar to those it is targeting in the flotation. However, after the institutions demanded a much lower valuation, the company decided to promote the move without them.

For Frenkel, who it is believed sell some of his shares in the company as part of the offering, this is a significant increase in valuation over the original investment he made about 15 years ago. In 2011, Frenkel acquired the company for an estimated $110 million.

Order backlog of about $370 million

The company, which is based in Emek Hefer has more than 250 employees, it is estimated, and an order backlog of about $370 million. UVision’s products, which include various advanced suicide drones and missiles, under the name “Hero“, are sold to over 30 armies and countries around the world. The company has various models, the largest of which is the Hero 1250, which carries a 50-kilogram warhead, has a range of more than 200 kilometers, and an operation duration of up to 10 hours.

For the past 18 months, UVision’s CEO has been by Dr. Ran Gozali, who previously held a number of senior positions at Rafael Advanced Defense Systems. The company’s chairman is Ilan Gifman, a close associate of Frenkel, who previously served as CEO of real estate company Aspen Group and retired about a decade ago. Gifman, an accountant by profession, has been close to Frenkel ever since, and assists him in managing his real estate in Europe. He serves on his behalf as a director of the investments he made in Israel (currently in Alony Hetz, and before that in Bayside).

In October 2025, UVision signed a huge deal with US company Mistral to supply suicide drones to the US Army for $982 million, in a multi-year contract starting in 2026. The contract includes the procurement of the equipment, its integration into the field forces of the US Army, training and exercises, as well as ongoing maintenance of the systems.

The Americans chose the UVision Hero 120 model, which has a maximum range of 60 kilometers and an operating time of about an hour. The Hero models have a system that allows the remote operator to see what the loitering weapon sees, through electro-optical and infrared cameras. The operator can make minor course corrections to the aircraft, or decide to cancel the mission if, for example, innocent bystanders appear. The loitering munitions can also be launched at targets and can carry out the mission from start to finish autonomously, or transfer operations to a field unit to increase the coordination and efficiency of the forces.

Jerusalem Post Staff contributed to the report

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Nearly one million civilians in Gaza continue to live in tents as the summer begins in 2026, according to a new report by the Norwegian Refugee Council.

While the US and UN-backed peace plan for Gaza continues to make slow progress towards its goals, there are many challenges for civilians in the enclave. First of all, Hamas continues to control around half of Gaza.

All of the two million civilians in Gaza are forced to live under Hamas rule and have no alternative area they can move to with an alternative government. The US-backed plan envisions reconstruction and a new Palestinian technocratic government.

The Norwegian Refugee Council said in a report on June 18 that “as Gaza enters the sweltering summer months, Israel’s destruction of homes and restrictions on shelter materials have trapped displaced families in Gaza in dangerously hot tents and makeshift shelters, warns the Shelter Cluster in Palestine.”

The report says that there are 170,000 households living in tents. This is around one million people.

“Another 5,000 households sleep outdoors, while 52,000 households live in overcrowded shelters. This month, 850,000 people still lack emergency shelter items such as plastic sheeting, plywood, and rope. These figures point to a shelter crisis driven not by weather, but by destruction, displacement, and blocked relief,” the report added.

Threat of summer heat may prove to be deadly

The worst hardship for the civilians, who already suffered under 987 days of war, is that they also face another summer of extreme heat in tents.

“Summer heat will only sharpen the risks families face, with daytime temperatures reaching 34.5 °C in the warmest month and the number of hot days with temperature recording 35 °C or higher expected to increase,” the report added.

This high-level heat is potentially deadly.

“Simple measures such as shading, ventilation, and basic shelter improvements can significantly reduce risks and improve living conditions, but this is currently not available inside of Gaza and deliberately not being allowed to enter,” Jehan Salim, a Shelter Cluster Coordinator, told the NRC.

“It is an outrage that families in Gaza, after months of displacement and loss, now face summer heat in makeshift tents because Israel continues to restrict shelter materials,” added Jan Egeland, Norwegian Refugee Council (NRC) Secretary General, in the statement distributed by the NRC.

The challenge facing the civilians is that they require better tents and more materials.

The report says that this includes “shade nets, plastic sheeting, and basic repair supplies. These materials will not rebuild Gaza, but they can make the difference between a tent that traps heat, smoke, dust, and disease, and a shelter that gives a family shade, airflow, privacy, and a measure of protection.”

The Norwegian Refugee Council notes that it leads “the Shelter Cluster in Palestine, which coordinates humanitarian shelter actors responding to emergency shelter needs in Gaza and the West Bank.”

The report added that “according to the UN, around 1.7 million people lived across roughly 1,600 displacement sites by late May, with 88 percent in makeshift sites. According to the UN, 850,000 people needed emergency shelter items by early June.”

Israel’s Coordinator of Government Activities in the Territories noted on Sunday that “as part of Israel’s commitment to facilitating the entry of humanitarian aid into the Gaza Strip, COGAT works together with UN agencies to facilitate relief in different fields.”

The report noted that UNICEF “recently announced that they brought in clothing for over 30,000 Gazan children, alongside additional medical equipment. Moreover, UNDP published visuals documenting the agricultural crops grown in the Al-Zeitoun neighborhood of Gaza City.”

COGAT continues to strengthen humanitarian response in Gaza

COGAT, which deals with humanitarian aid entering Gaza, noted that it “continues to work in close coordination with its partners in the international community to strengthen the humanitarian response in the Gaza Strip.”

COGAT also said on Friday that it “continues to support humanitarian efforts across Gaza. According to data from international organizations working in Gaza, more than 1.7 million meals are served daily, over 3.6 million pitas are baked daily, and 181 community kitchens are currently operating throughout the Gaza Strip. At the same time, market activity continues to expand, contributing to greater availability of food and essential goods while helping drive prices downward.”

Meanwhile, former US Secretary of State Hillary Clinton wrote a new article at the Financial Times supporting the current US-backed plan for Gaza.

This is the 20-point plan that the Trump administration was able to initiate after talks with Arab and Muslim states and Israel in September 2025. The ceasefire began in October and US CENTCOM helped set up a coordination center. There is now also a logistics center, and the International Stabilization Force is taking its first steps.

“There is no alternative framework waiting in the wings…The 20-point plan is not the one many of us would have drafted, but it remains the only framework backed by sufficient leverage, political engagement, and potential resources to move the parties towards implementation,” Clinton noted.

The Board of Peace, which was established as part of the peace plan, posted the Clinton piece, noting it was a powerful op-ed that “echoes what we have been saying consistently & forcefully: Now is the time for the whole world to get behind the president’s plan for peace, prosperity & reconstruction in Gaza. Put your politics aside & support the Board of Peace for the good of the people of Gaza who have suffered too long.”

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A new ceasefire in Lebanon and talk of Israel withdrawing from some areas have raised questions about the current Israeli warfighting doctrine. Israel has now been fighting a war for 989 days since October 7, 2023.

While the war was imposed on Israel by attacks by Hamas and Hezbollah, Israel has had a duty to change the situation and fight the war on Israel’s terms.

In the first months of the war, after October 7, the IDF had to respond and regroup. With 1,000 Israelis killed, 250 taken hostage, and the IDF scrambling to call up and train some 500,000 reservists, there were unprecedented strains on Israel.

However, by the time the IDF began to take the offensive against Hezbollah in September 2024, the situation had changed. Israel was now dictating the tempo on various fronts. Israel has been making its own decisions since then.

However, a recent ceasefire in Lebanon and pressure on Israel to halt its offensive operations have left many questions about what comes next. Hezbollah is still in Lebanon. It is not only present in the Beka’a and Dahiyeh, but it is also present near Israel’s border.

The Alma Research and Education Center recently put out a report about the IDF fighting Hezbollah at a key site in southern Lebanon.

“The IDF is currently conducting ground operations on the Ali al-Taher ridge against the Badr Unit’s primary underground infrastructure, located approximately 10 kilometers from the Israeli border near Metula. This facility serves as the main headquarters of the Badr Unit and, in all likelihood, can be used to launch weapons and conduct attacks into Israeli territory. The infrastructure includes several underground sub-complexes, the largest of which extends for more than one kilometer,” the report said.

Other reports have painted a concerning picture of this ridgeline. It also raises questions about why Israel waited some 900 days to take the Beaufort and then strike at this area. The IDF took the Beaufort within two days of launching operations in 1982.

Why did it take years this time?

The reason is because of a new IDF doctrine of tactics that emerged in Gaza in response to the Hamas attack. Rather than fighting the war of maneuver and combining firepower the way the Momentum plan the IDF had trained for, called for, the IDF has preferred very slow incremental advances. These advances move at a pace similar to that of a World War I battlefield, except without the high casualties.

Some may argue that it is this concern for casualties that guides the 988-day war. However, the evidence from Lebanon shows that even a slow pace carries risks.

Hezbollah will innovate, and the IDF is suffering casualties. There is no way to run a war in which there are no losses. As such, it’s not clear why it would be preferable to fight for 900 days, rather than six days, as in the Six-Day War, if in the end the casualties will be the same.

In terms of the country’s interests, short wars are generally better. Israeli leaders knew this in the early decades of the state. They preferred rapid advance. They also knew that a long war would be a race against time.

The international community and other factors mean that one can’t fight a war forever. Israeli officials have boasted that the IDF will remain in southern Lebanon and that 200,000 Lebanese forced to evacuate will not return. However, there is pressure on Israel to begin some type of withdrawal.

What to make of the current situation?

Israel’s prime minister told the JNS International Policy Summit on June 22 that “we decimated Hezbollah’s military machine. We prevented the Radwan force from invading the Galilee. We destroyed over 90% of the 150,000 rockets and missiles Hezbollah amassed against us.”

He claimed Israel has established security zones in Gaza, Syria, and Lebanon. This is the new doctrine: carving out buffer zones, razing the homes in those zones, and then staying. This puts a long-term burden on the IDF to stay in static positions in these zones and patrol them.

While the war in Lebanon is presented as a success, it raises questions. Hezbollah is a terrorist group. It should never have become so strong as to possess 150,000 rockets and have a conventional force capable of invading Israel. In fact, in all of Israel’s history, there was never a force in Lebanon capable of invading Israel.

Not since 1948 has Israel been invaded. Israel’s great leaders of the past prided themselves on preventing Israel from being invaded, and they took the fight to the enemy in rapid wars such as 1956, 1967, and even 1973 and 1982.

Although 1973 was initially a setback, the IDF quickly took the fight to the enemy, crossing the Suez Canal in two weeks of fighting. Not 900 days, but two weeks. That was the doctrine of fighters such as Moshe Dayan, Ariel Sharon, Yizhak Rabin and others.

Even in 1982, although the war became a quagmire, the initial advance covered more ground in two days than the entire 988-day war in Lebanon at that time. In fact, the negative aspects of the war all began when Israel decided to stay for 18 years, which is the policy Israel has adopted again. Will the result be the same?

In 1978, the Litani offensive also covered more ground in Lebanon in a few days than the entire war at that time. One argument for why this takes so long is that Hezbollah is so strong. However, this goes back to the fact that Hezbollah was allowed to get so strong.

Why was it allowed to build a mountain base six miles from the border? And why is that Hezbollah bunker and tunnel system still there, with the IDF apparently being told it needs to cease fire?

The slow war in Lebanon, based on a doctrine from Gaza, has resulted in leaving Hezbollah in the field just miles from the border. This raises questions about why the IDF adopted a slow war concept from Gaza and tried to apply it to Lebanon.

One reason for the slow pace of the war is the creation of new buffer zones along the border. Israel now wants buffer zones. This means patrolling them. Of interest, this means a return to the Bar-Lev line concepts of an earlier era.

However, those static forts were seen as problematic in 1973.

The question is, why is Israel returning to concepts from the 1990s and before that appear to have failed? Israel’s technological superiority generally means it can choose the time and place to carry out precision attacks. With all this superiority, it’s unclear why the policy has led back to WWI-style methods.

Israeli technology is better suited to fast wars where the enemy is never allowed to regroup and the enemy is always kept off balance.

Now, Hezbollah apparently can regroup under the ceasefire. The fact that it is still so close to the border will mean that, as with Hamas, the terrorist group may remain, leading to more wars in the future.  

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Content warning: The following content contains graphic descriptions of sexual assault and abuse that some readers may find disturbing.

Around 60% of women abducted during sectarian attacks last year in the western Hama countryside and Homs have not been returned, according to a report published last month by the Syrian Feminist Lobby.

The report, Abduction of Syrian Women: A War on Dignity, argues that violence against women from minority communities, particularly Druze and Alawite women, has been enabled by the collapse of state institutions, weakening the rule of law, and a growing culture of impunity.

In 2025, the Syrian Feminist Lobby documented 82 abduction cases across the Syrian coast, western Hama countryside, and Homs. Some 10% were girls, while 90% were women aged 15 to 40.

At publication, only 40% of abducted women had been released. The organization said many of those freed were subjected to extortion and violence during captivity.

Citing a March report by the Office of the UN High Commissioner for Human Rights, the lobby said authorities failed to respond effectively to complaints. Police reports were filed but not followed up on, and in some cases, officials discouraged families from pursuing legal action.

Ransom demands were made in a minority of cases but were rarely accompanied by proof of life or location details. In one case, a family paid a ransom, but the woman was not returned.

Families also reported receiving messages telling them to “forget” their missing daughters. Others said they received calls from local and international numbers warning that continued searching would result in the women being returned dead.

In more than one case, husbands were sent divorce papers believed to have been issued under coercion. At least one underage girl was forced into marriage.

Based only on verified cases, 190 women and girls disappeared after the July attacks on the Druze community in Sweida. Some were later located after communications were restored, while others remain missing.

The lobby said many abducted women were released through mediation or exchange deals. In some cases, deaths were confirmed during release processes, though circumstances remain unclear.

The report states that women were used as leverage against local communities for political purposes. “This targeting was preceded by waves of sectarian incitement and hate speech in the media and on social networks. The pattern reflects the intersection of gendered violence with sectarian targeting, in which women’s bodies are used to send collective messages beyond the individual victim to her community,” the lobby assessed.

During extrajudicial killings in Sweida, where men were subjected to religiously charged insults before being brutally murdered, the report also documents cases in which women were stripped before being killed, and in some instances their bodies were mutilated or burned. Photographs of bodies were later circulated online. The report also cites the rape of a young girl in front of her mother and the abduction of children as young as 11 months. It says the youngest hostage still in captivity is 15.

The impact of the violence continues to be felt by survivors, who now face severe psychological, social, and economic consequences, the report added. It warns that limited access to witness protection and justice deepens vulnerability. Many women in Homs described confining themselves to the home, fearing being taken in public, while others described withdrawing from education out of fear of further violence.

Drugged, held in the dark, fear used as a weapon

Women who escaped or were released described being drugged, held in dark rooms, and moved between locations. One survivor said masked armed men forced abducted women to wear black niqabs covering their entire bodies before leaving them at the abduction site and threatening them not to speak.

“This threat shows how violence extends beyond detention. Fear is used to enforce silence and maintain control over survivors and their families,” the lobby noted.

Some women reported witnessing money exchanged for transfers, which the lobby says indicates links to human trafficking. Others described hearing multiple dialects and foreign-accented Arabic.

One survivor said she was subjected to sexual violence and held in solitary confinement for a week. She said captors forced her to record a video claiming she had left voluntarily with a lover. A man referred to as “the sheikh” supervised the recording and pressured her into accepting divorce and marriage to her abductor in exchange for release.

“This pattern reflects the use of coercion to produce forced narratives that deny the violation and turn the survivor into an instrument for concealing the crime rather than documenting it,” the report states.

The case, which resembles one referenced in the UN report, also alleges police treated the survivor as a criminal and issued a religious ruling against her before release. The lobby claims her access to legal support was obstructed, and her abductor obtained security information about her, “indicating a link to official agencies.”

In Syria, adultery is a criminal offense, with penalties ranging from three months to two years, depending on jurisdiction. Islamist authorities have also previously executed women accused of extramarital relations.

The report describes strong religious framing in many cases. Abductors reportedly called themselves a “lifeline” while threatening the killing of “infidel Nusayris” (a derogatory term for Alawites). Victims were allegedly forced to convert, marry captors, and adopt religious practices, including the niqab and rituals.

Multiple survivors described being transported through checkpoints where security personnel appeared to interact with abductors familiarly.

Several women also reported seeing abductors in military-style clothing resembling General Security uniforms or armed groups with red headbands, which the report suggests indicates possible involvement of auxiliary forces or affiliated actors.

Lack of concern from officials

The report also cites concerning official responses, including families being told their daughters were “immoral,” had “left voluntarily,” or could not be controlled. The lobby said such statements undermine trust in justice institutions and limit access to remedies.

In one case, a survivor was held for more than five hours without medical or psychological care by General Security, while her father was detained for several hours before seeing her.

Other survivors were forced to give statements inside security facilities in the presence of individuals allegedly linked to their abductors, and threatened with solitary confinement if they refused. Some testimonies were later broadcast publicly.

“I lost trust in people. For many years, I was very enthusiastic. When we went down to demonstrations or gatherings, we felt a sense of belonging to Syrians and to Syria. Today I do not have that feeling. I also feel a loss of trust in the future. What future is waiting for us?” a survivor of the Sweida massacre told the lobby. “I have no trust in politics, and no trust in the world either. They all failed us. Politics looks for interests without thinking about people and what happens to them. The world is also not fair, and all the talk about human rights or global solidarity has no value.”

The report says survivors were coached to repeat phrases thanking security agencies and denying abduction, while being prevented from naming perpetrators or describing detention sites. It argues this violates the International Covenant on Civil and Political Rights and obstructs investigations.

It also documents incitement in official or semi-official media against investigators and women human rights defenders.

The lobby said authorities largely dismissed the reports. Syria’s Interior Ministry reportedly said 41 of 43 reported abductions of Alawite women were not genuine cases, further weakening trust in judicial institutions. 

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Prime Minister Benjamin Netanyahu accused prosecutors on Monday of misleading him and “setting a trap” during his cross-examination, as his attorney Amit Hadad began the final stage of questioning in Netanyahu’s long-running criminal trial.

The exchange, at the Tel Aviv District Court, centered on Case 2000 and quickly became a dispute over what Netanyahu had been shown during the prosecution’s questioning – and whether the defense could now place fuller excerpts before him.

“I am a trainee lawyer in this absurd process,” Netanyahu told the judges. “They present me with a false picture… They set a trap, and I fall into it.”

Netanyahu said prosecutors had caused him to give answers that could be portrayed as inconsistent, despite what he said was a clearer picture in the underlying testimony and records.

Monday marked the start of Hadad’s questioning after the prosecution completed cross-examination last week. The defense’s questioning is formally limited to matters raised during cross-examination that require clarification. 

Questioning in Case 2000

Case 2000, one of three cases in Netanyahu’s trial, centers on recorded conversations between Netanyahu and Arnon “Noni” Mozes, the publisher of Yediot Ahronot and Ynet.

According to the indictment, Netanyahu and Mozes discussed possible steps that could restrict Israel Hayom, then Yediot’s principal competitor. In return, Mozes allegedly offered more favorable coverage of Netanyahu and more negative coverage of his political rivals.

Netanyahu is charged in the case with fraud and breach of trust, while Mozes is charged with offering a bribe. Both deny wrongdoing.

Hadad first sought to revisit whether Netanyahu had met with Mozes while serving as finance minister in 2003.

During the prosecution’s cross-examination, Netanyahu said he did not remember such a meeting. Hadad argued that prosecutors had cited only part of Mozes’s police testimony, while leaving out passages in which Mozes himself said he could not remember and was unsure whether the meeting had taken place.

Judge Oded Shaham said Netanyahu had already answered that he did not remember, and that there was no need to reopen the issue.

Judge Moshe Bar-Am added that the relevant question was whether Netanyahu’s answer had resulted from a misleading presentation; Hadad insisted it had.

Netanyahu: Prosecutors asked misleading questions

The argument later moved to testimony by Nir Hefetz, Netanyahu’s former spokesman and a state witness. Hadad said the prosecution had suggested that Hefetz described a “cease-fire” between Netanyahu and Mozes during the 2009 election campaign.

According to Hadad, the fuller testimony placed that period of relative calm after the election, between May and September 2009. The distinction, he argued, mattered because Netanyahu had initially said such a cease-fire was “possible” before later rejecting the premise.

Netanyahu seized on the point, saying prosecutors had made it appear that he had changed his version.

“They mislead me here and make me give two answers in court,” he said. “Then they will say there are two versions, that perhaps I did not tell the truth.”

Prosecutor Alon Gildin objected that once Netanyahu said he did not remember the events, the answer was clear. Re-examination, Gildin said, was not meant to allow the defense to search for documents or details that could refresh the witness’s memory.

Netanyahu also faces charges in Case 1000, involving alleged gifts from wealthy businessmen, and Case 4000, concerning alleged regulatory benefits for Bezeq in exchange for favorable coverage on Walla. He denies all charges.

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Definium Therapeutics said Monday that its LSD therapy significantly helped patients with major depression in its first Phase 3 trial, bringing the psychedelic drug closer to a potential approval.

Six weeks after a single dose, patients on the pill, called DT120, experienced a 13.3-point drop on a depression test called the Montgomery-Åsberg Depression Rating Scale (MADRS), compared with a 5.2-point drop among patients taking placebo.

By 12 weeks, the effect waned a bit but was largely maintained, as patients on the pill had an 11-point drop from their baseline, compared with a 3.6-point drop in the placebo group.

Continue to STAT+ to read the full story…

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Alan Greenspan, former chair of the board of the governors of the Federal Reserve System, died on Monday, according to a statement from his wife Andrea Mitchell, which was reported by NBC News.

”Alan passed away at our home this morning at the age of 100 from complications of Parkinson’s Disease,” Mitchell said in a statement, according to the outlet.

“He was a giant of a man who helped shape the U.S. economy for decades under presidents of both parties, but was always honest in acknowledging his mistakes,” she noted.

 

 

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The City Council will hold a hearing next month on Ryder’s Law, a bill that would phase out horse-drawn carriage rides, after a teenager was thrown from a carriage in Central Park and died this week. Speaker Julie Menin on Wednesday announced a July hearing on the legislation, which would phase out the city’s horse-drawn carriage industry. A Council subcommittee nixed a previous version of the law in November despite support from former Mayor Eric Adams. In addition to the death of the 18-year-old tourist on Wednesday, there have been seven additional horse-related incidents over the last 13 months, including last week when a carriage horse had a medical emergency and died, according to the New York Times.

“Today’s tragic death of a teenager following an incident involving a horse carriage in Central Park is horrific and heartbreaking. Our thoughts are with the victim’s loved ones and everyone affected by this devastating loss,” Menin said in a statement.

“It is now time to act. The Council recently introduced Ryder’s Law to address longstanding concerns surrounding the horse carriage industry, and we will hold a hearing on the bill in July. We look forward to hearing from all stakeholders and reviewing measures to address horse welfare and public safety concerns as we work toward a thoughtful solution to this urgent issue.”

Introduced in 2022 and sponsored by Council Member Christopher Marte, Ryder’s Law is named after a horse that collapsed in Hell’s Kitchen and was later euthanized. Following the incident, a poll by the Animal Legal Defense Fund found that 71 percent of New Yorkers supported banning horse-drawn carriage rides, as 6sqft previously reported.

Despite support from Adams, the bill was defeated in November after the City Council’s Committee on Health voted 4-1 against it, with two abstentions. The measure would have phased out the city’s horse-drawn carriage industry by 2026 and helped drivers transition into other jobs.

Now, two recent incidents involving horse-drawn carriages in Central Park have reignited a push for the measure. On June 9, a 16-year-old carriage horse collapsed and died on West 72nd Street near Central Park West while pulling a carriage ride, as reported by CBS News.

On Wednesday, a carriage horse bolted after its driver stepped away from the vehicle to take a photo for an Indian family visiting NYC. The family’s 18-year-old son fell from the carriage and struck his head. He later died at New York-Presbyterian Weill Cornell Medical Center on the Upper East Side.

In a statement, the Central Park Conservancy renewed its call for the passage of Ryder’s Law, pointing to previous incidents involving carriage horses in the park, noting eight horse-related incidents in Central Park over the past 13 months. In August, the group took a public stance on the issue for the first time, backing the measure.

“This is the tragedy we feared when we first called last year for horse carriages to be banned from Central Park due to the risks they pose to public safety,” the Conservancy said in a statement. “A young man came to enjoy our park and lost his life. That is not an acceptable cost of an antiquated industry operating in the middle of one of the most heavily used public spaces in America.”

“We renew our call for NYC to pass Ryder’s Law, which would ban horse carriages and provide transitional job placement services for drivers. Every day horse carriages are in the park is a day the safety of New Yorkers and visitors is in jeopardy.”

Under Ryder’s Law, the city would be prohibited from issuing new licenses for horse-drawn carriages and would eventually ban their use. The measure would also require the city to create a workforce development program to help industry workers transition to other jobs. Some proposals also include electric alternatives to horse-drawn carriages.

There are currently more than 100 carriage horses in Manhattan. The rides have been a fixture of Central Park since the late 1800s, when horses were still the primary mode of transportation across the five boroughs. The Transportation Workers Union Local 100, which represents roughly 170 carriage drivers in Central Park, has pushed back against Ryder’s Law, saying it threatens workers’ livelihoods.

In a statement, Alexander Kemp, administrative vice president of TWA Local 100, said he was “stunned” by the incident and that it underscored the need for additional safety protections rather than the elimination of the city’s carriage horse industry.

“We’re absolutely gutted and stunned by this tragedy,” Kemp said. “We’ve never had a fatal accident like this before. We have shuttered the stables and ceased operations today while we have extensive internal discussions of safety protocols and how they can be improved.”

Kemp also told amNY that Council Member Marte has not outlined a “realistic plan” to support carriage drivers and owners if the industry is phased out. He said Marte has not provided detail on economic support or a transition plan for more than 150 drivers and owners who he said would be “financially ruined,” nor on long-term care for nearly 200 horses.

Meanwhile, Mayor Zohran Mamdani has continued former Mayor Eric Adams’ support for ending horse-drawn carriages in Central Park, but has stopped short of explicitly backing Ryder’s Law. Speaking at a Wednesday press conference, he said he “look[ed] forward to working with union leaders” to advance efforts to end carriage horse operations in the park.

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The euro zone is living through what European Central Bank Chief Economist Philip Lane called a “mid-sized inflation shock,” and he said Friday that prices will likely stay above 3% for the rest of the year. Speaking on June 19, just one week after the ECB raised interest rates for the first time since 2023, Lane argued the situation calls for a measured response rather than a burst of aggressive rate hikes.

That single word — measured — is the heart of the message. Inflation across the 20 countries that use the euro has climbed well above the ECB’s 2% target, but Lane signaled the central bank does not intend to slam the brakes. The bank wants to cool prices without choking off an economy that is barely growing.

Here’s what’s driving it. The war between the United States and Iran, which began in late February, has pushed up oil and gas prices and disrupted shipping through the Strait of Hormuz, the narrow waterway that carries a large share of the world’s crude. Higher energy costs flow straight into household bills — heating, fuel, transport — and then into the price of almost everything that has to be moved or manufactured. The ECB has said the Middle East war is amplifying inflationary pressures across the euro area.

That is why the ECB, led by President Christine Lagarde, lifted its key rate by a quarter-point on June 11, the first increase since 2023. Alongside the move, the bank raised its inflation forecasts, now expecting headline inflation of 3.0% in 2026 and 2.3% in 2027, up from earlier projections of 2.6% and 2.0%. Core inflation was bumped up to 2.5%. At the same time, the ECB trimmed its growth outlook, cutting expected expansion to 0.8% this year and 1.2% next year.

Ordinary shoppers are already feeling it. Grocery bills, electricity and the cost of filling a tank have all crept higher across major economies like Germany, France and Italy, and services such as travel and dining have stayed stubbornly pricey. When the ECB talks about inflation above 3%, that is the lived experience behind the number.

Lane’s point is that a shock driven mainly by energy and war is different from one driven by an overheating economy. If the cause is a supply problem abroad, raising rates too hard at home risks crushing demand without fixing the source. So the ECB would rather lean against inflation steadily, watch the data month to month, and avoid overcorrecting. That is a careful balancing act, because if households and businesses start to expect high inflation to stick, those expectations can become self-fulfilling.

For European businesses and families, the practical takeaway is that borrowing is likely to stay more expensive for a while. Mortgages, car loans and business credit across the euro zone are tied to the ECB’s benchmark, and a bank that is tightening — even gently — is not about to make loans cheaper. Companies that were hoping for relief on financing costs will probably have to wait.

The shift also marks a striking turn for the ECB. A year ago, the debate in Frankfurt was about how many times the bank would cut rates as inflation drifted back toward target. Energy prices and the Iran war flipped that script. Now the bank is raising rates and warning that above-target inflation could linger into 2027.

The danger Lane is trying to avoid runs in two directions. Move too slowly, and inflation could dig in. Move too fast, and a fragile economy growing at less than 1% could tip toward recession. By framing the problem as a mid-sized shock and the response as gradual, Lane is telling markets the ECB sees a real problem but does not intend to panic.

Much now depends on the war. If the conflict cools and oil flows through Hormuz return to normal, energy-driven inflation could fade faster than the ECB’s forecasts assume, giving Lagarde room to stop hiking. If the fighting flares again, the bank may have to keep going. For now, the ECB’s message to Europe is that the inflation shock is real, it will take time to pass, and the cure will be applied in steady doses rather than all at once.

JBizNews Desk | Frankfurt

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An expert committee at the US Food and Drug Administration (FDA) unanimously recommended approving Moderna’s new flu vaccine, a move that could signal the start of a new era in preventing the seasonal illness. 

The vaccine, intended for people 50 and older, is based on mRNA technology and was found in an advanced trial to be more effective than a standard flu shot.

The FDA’s vaccine advisory committee voted unanimously on Thursday in favor of the new Moderna vaccine, called mFlusiva, after reviewing its safety and efficacy data. If it receives final approval, it will be the world’s first mRNA-based flu vaccine. 

The recommendation was made for two age groups: people 50 to 64 and people 65 and older. For the older group, in which flu complications are more common and more severe, the committee asked Moderna to carry out an additional study after the vaccine enters the market.

The main figure driving the discussion was the vaccine’s effectiveness compared with a standard flu shot. In a late-stage trial, Moderna’s vaccine was found to be about 27% more effective than the older shot in preventing influenza.

That is a significant gap in a field where vaccine effectiveness varies greatly from season to season, depending on how well the vaccine matches the virus strains actually circulating in the population.

Flu is often seen as a routine winter illness, but among older adults, people with chronic illnesses, pregnant women, and young children, it can cause severe complications. Every year, thousands are hospitalized in Israel because of flu and its complications, including pneumonia, worsening heart and lung disease, respiratory failure, and death. 

People 65 and older account for most severe hospitalizations, which is why the discussion over a more effective vaccine for older age groups has broad medical and public importance.

Traditional flu vaccines are produced using long-established methods, some of which are based on fertilized eggs or cell cultures.

Where does mRNA come in?

One of their main limitations is timing; manufacturers must choose months in advance which flu strains will be included in the seasonal vaccine. During the months before winter begins, the virus may change, and the match between the vaccine and the active strains can weaken.

This is where mRNA technology comes in. Instead of growing the virus or its parts through lengthy biological methods, the vaccine uses a short segment of genetic code that instructs the body’s cells to produce a protein similar to a component of the flu virus.

The immune system recognizes that protein, mounts an immune response against it, and is then expected to react more quickly if it is later exposed to the real virus. The genetic material in the vaccine breaks down in the body and does not remain there.

Moderna also has another possible advantage, speed of production. The company told the committee that it can move from selecting flu strains to distributing the vaccine within two to three months, compared with about six months in some traditional production methods.

In theory, that means the vaccine composition could be updated later in the year, closer to flu season, to better match the strains that are actually spreading.

The new vaccine was reported to have side effects similar to those known from other vaccines, including pain at the injection site, fatigue, muscle aches, and fever.

According to the data discussed by the committee, no unusual safety problems were identified that shifted the benefit-risk balance against the vaccine. Still, the call for additional research among people 65 and older reflects regulatory caution, mainly because the risk of severe flu is higher in that group and the standard for comparing vaccines is more complex.

Opens doors to new vaccines

If the vaccine is approved, it could open the door to a new generation of flu vaccines that can be updated more quickly. For health systems, that could be particularly important in seasons when flu strains change rapidly or when there is only a partial match between the seasonal vaccine and the active viruses.

The decision is also expected to affect the continued development of combination vaccines, including a one-shot vaccine against both flu and COVID-19. Moderna and other companies have been trying in recent years to develop combination vaccines that would make it easier for older adults and at-risk groups to receive broader protection in a single injection.

Approval of the new flu vaccine could strengthen confidence in that path, but it would also require continued monitoring of efficacy, safety, and public uptake.

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Meeting the Lubavitcher Rebbe set the course of Rabbi Lord Jonathan Sacks’s life, he used to say. In 1968, as an unknown Cambridge undergraduate, Sacks visited Rabbi Menachem Mendel Schneerson at 770 Eastern Parkway in Brooklyn, New York, and carried away a line he repeated for the rest of his life: “A good leader creates followers, but a great leader creates leaders.”

This past week, we marked the Rebbe’s 32nd yahrzeit. He published around 70,000 pages, 39 volumes of talks that he edited himself, and over 12,000 letters, an output that makes him, in Yosef Bronstein’s words, one of the greatest generators of published Torah in Jewish history.

As the author of Engaging the Essence: The Torah Philosophy of the Lubavitcher Rebbe, Bronstein seats the Rebbe beside Rav Kook and Rav Soloveitchik, the two thinkers our world already canonizes, arguing that Schneerson too, has earned his chair. Congress gave the Rebbe its gold medal, his face ran on the cover of The New York Times Magazine, and prime ministers closeted themselves with him for hours.

Bronstein did not grow up with hassidism and does not call himself a hassid. He heads the Machon Zimrat Ha’aretz Torah-learning institution in Efrat and teaches Jewish philosophy at Yeshiva University, and he learned in the Brisker method (highly analytical and reductionist approach to Talmud study) under Rabbi Michael Rosensweig.

But Bronstein also learned Torah with a Chabad spokesman as his learning partner, who clearly assisted him in understanding the basic idea that spread across every subject the Rebbe touched.

Bronstein names it “dira batahtonim,” God’s desire for a dwelling in the lowest world, the material one we live in.

The sages call this world a hallway before the palace of the World to Come, a corridor to be crossed and left behind. The Rebbe inverted the image. The hallway itself is to be made into the palace.

He pressed the claim furthest in his treatment of body and soul, locating the deepest divinity, the “Essence” itself, not in the soul’s heights but in the body and the physical world below. This is where he is most radical, and where a “Litvak” raised on the soul’s primacy feels the floor tilt.

To find the essence of God disclosed in matter more than in the soul is either the deepest reading of creation or the highest sanctification of the ordinary, and Bronstein makes the reader feel its force before one can decide which it is.

The Chabad emissary on a plane to a town that cannot yet make a minyan is that philosophy in motion.

Bronstein’s most ambitious claim is that the programs we credit to the Rebbe’s organizational genius are a single philosophy enacted.

The principle that sent the emissaries out, he argues, also governed how the Rebbe read the rise of women, the place of non-Jews in a redeemed world, and modern science, which he read as a discipline drifting toward the oneness of God, in its search for the unity beneath nature.

While the Rebbe did not write a system, he spoke to occasions for 40 years. Bronstein anchors the structure of the Rebbe’s talks in his first discourse of 1951.

Making messianism feel smaller than its reputation

NO CHAPTER feels more like the present than the one on the Land and the State of Israel. The Rebbe loved the land, its people, and its soldiers without theologizing the state as redemption’s first flowering, and for more than 25 years, he argued against ceding captured territory.

His grounds were not messianic but halachic and practical: the Shulhan Arukh’s ruling that a border town must be defended even on Shabbat; his insistence that all of Israel had become a border; his refusal to trade lives that are certain for a peace that is speculative; and a flat distrust of hostile neighbors’ promises and of United Nations guarantees.

On spreading the wellsprings, the Rebbe’s insistance that the deepest secrets of Kabbalah be opened to every Jew and not guarded for an elite, the philosophy becomes a program. On free choice, the same essence that anchors everything anchors the dignity of the Jew on the street.

These pages make the messianism, when it comes, feel smaller than its reputation. Bronstein gives it three late chapters and a restraint that is almost severe. He establishes that the Rebbe never explicitly declared himself Mashiach, and reads him as a man who likely thought himself a candidate awaiting a sign that, in his words, never came, so that he “died in an unredeemed world.”

The limits are real, and Bronstein names them before a critic can.

We know how to thank the Rebbe for what he built. This book asks the more demanding thing, that we read the thought he built it from. ■

ENGAGING THE ESSENCE: THE TORAH PHILOSOPHY OF THE LUBAVITCHER REBBE
By Yosef Bronstein
Maggid Books/Koren Publishers
710 pages; $35

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Prime Minister Keir Starmer said on Monday he would resign, promising to ensure an orderly transfer of power to a new leader by September at the latest to try to avoid political instability as Britain prepares for its seventh leader in 10 years.

Less than two years after he won a landslide election victory that promised to end chaos in British politics, Starmer said he would support whoever replaced him.

“I was told time and time again that my party was finished, that we were consigned to history, that a majority at the general election, let alone a landslide majority, was impossible, but we proved those people wrong, because we changed our party, ripping out the poison of antisemitism, restoring trust on the economy, defence, and national security, and becoming a party that once again stood proudly with, not against, our national flag,” Starmer said in his speech.

The threat to Starmer, which had been building for months, increased sharply on Friday when Andy Burnham, the Greater Manchester mayor, decisively won a parliamentary election to return to Westminster, beating a candidate from Nigel Farage’s Reform UK party, which has led national opinion polls for more than a year.

That victory gave hope to Labour lawmakers that Burnham, a career politician known for his communication skills, could transform the fortunes of a party that has lost support under Starmer, whose popularity ratings have sunk to the lowest for any British leader.

Burnham said on Monday he would put himself forward to enter the contest to replace Starmer, hours after the British prime minister announced he was resigning.

Next prime minister to become Britain’s seventh since Brexit

Whoever replaces Starmer will become Britain’s seventh prime minister since the Brexit vote to leave the European Union, which took place 10 years ago this week.

That level of turnover – the highest in Britain in nearly two centuries – underlines the struggle of maintaining the support of voters angry at successive failures to improve living standards, public services, and tackle illegal immigration.

The political advisory group Eurasia had said the best outcome could be for Starmer to say he will step down in September, enabling him to attend a UK-European Union reset summit in July and give Burnham time to prepare for government.

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In recent weeks, there has been talk in Washington about Syria potentially intervening in Lebanon.

The reports have come as the Trump administration has expressed concern over Israel’s conflict with Hezbollah. In essence, it appears that US President Donald Trump came to believe that Israel was not able to defeat Hezbollah quickly, and the war had led to too much destruction.

Trump then considered whether Syria might help. The Trump administration has embraced Syrian President Ahmed al-Sharaa.

Could Sharaa help solve Lebanon?

Syria and Lebanon have more in common than just a border. Hezbollah intervened in the Syrian civil war and backed the Assad regime. Iran moved weapons via Syria to Hezbollah. Hezbollah is widely seen by Syrian opponents of the Assad regime as having been complicit in Assad’s crimes.

As such, it is believed that the Syrian rebel groups that came to run Syria after the fall of Assad in December 2024 might welcome the opportunity to fight Hezbollah in Lebanon.

The Sharaa government has been cautious. They have helped prevent smuggling to Hezbollah. However, they don’t want to plunge Syria into a new war. Syria intervened in Lebanon in the past. It sent forces to Lebanon in 1976 and maintained a presence there until 2005. Hezbollah was involved in the killing of former Lebanese prime minister Rafic Hariri in 2005.

This led to the Lebanese demanding that Syria leave the country in 2005. Syria was seen as working with Hezbollah.

Syria thus knows the challenge of sending forces to Lebanon. Sharaa was quoted recently as saying, “Lebanon needs joint solutions, and Syria is ready to anchor a new security path…Our goal is to back the Lebanese state, strengthen its institutions.”

He has argued that this means conducting talks with Lebanon, including possibly Hezbollah. Syria prefers diplomacy, not war.

Arab News in Saudi Arabia noted that “Syrian President Ahmed Al-Sharaa denied on Sunday that his country sought to intervene militarily in Lebanon where Israel and Hezbollah are at war, after US President Donald Trump repeatedly suggested Damascus could get involved.”

The report also noted that Sharaa said, “We are looking for economic channels between Lebanon and Syria, not military ones.” Shara’a said this in an interview on the television channel Al Mashhad.

Arab News noted that “on Sunday, Trump told Fox News he was ‘disappointed Israel can’t put Hezbollah away,’ adding in reference to the fight against the terror group: ‘I’m close to giving it over to Syria.’”

Trump’s apparent push for Syria to have a role could still manifest itself in other ways.

The Al-Nusra website had noted that “Trump has not given up on disbanding Hezbollah, despite the memorandum of understanding with Iran, and is working in other ways to put pressure on the organization and strengthen the US position in Lebanon and the region.”

The report adds that despite a push for a ceasefire and a new de-confliction concept in Lebanon, “it is estimated that Washington is using various tools simultaneously to try to disarm Hezbollah.”

The report goes on to say that even as the US is involved in Iran talks in Switzerland, “at the same time, the United States imposed sanctions on Hezbollah allies, including Suleiman Frangieh, head of the Marada movement, and pressured the Syrian authorities to intervene in Lebanon.”

The report goes on to say that “the sources note that the sanctions carry several messages: to Lebanon – to remain firm in the face of pressure; to Hezbollah – that the organization is still considered an organization that must be disarmed; and to the party’s allies – that there is no fundamental change in the domestic arena.”

US wants Hezbollah to disarm

A report at Lebanon’s Naharnet noted that “the US Treasury on Thursday imposed sanctions on Marada Movement chief Suleiman Franjieh, Hezbollah political council deputy head Mahmoud Qmati and other individuals for using their influence to ‘obstruct Lebanon’s peace process and delay the disarmament of Hezbollah.’”

The US wants Hezbollah to disarm. The US Department of the Treasury will continue to target Hezbollah’s financial networks.

Suleiman Frangieh, who was born in 1965, is a former member of the Lebanese parliament. He is a Christian and was also a former supporter of Bashar al-Assad.

He has been backed by Hezbollah in the past. He is the son of Tony Frangieh, who was assassinated in 1978 by rival Christian fighters from the Christian Kataeb Party.

He is the grandson of former Lebanese president Suleiman Frangieh, with whom he shares the same name. A former soldier, he also led the Marada Brigades militia, which was disbanded under the Taif Agreement that ended the Lebanese civil war. He was appointed to a seat in parliament in 1991. 

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IDF soldiers and haredi (ultra-Orthodox) protesters clashed outside of Military Prison 10 in Beit Lid on Monday morning, demonstrating in support of arrested draft dodgers being held in the prison and the IDF’s haredi draft law.

According to footage circulating on social media, protesters swarmed the prison’s entrance and checkpoints, shouting and pushing aside the metal barricades and soldiers attempting to maintain order.

“Release [Supreme Court Deputy President Justice Noam] Sohlberg’s hostages and the rest of the haredim from military prison,” read a sign held by one of the protesters.

Sohlberg has become a focal point of such protests following his order to increase arrests of draft evaders, the peak of which took place on June 3, when a haredi riot broke out outside of his home.

The extremist protesters caused significant property damage by smashing windows, damaging his car, and attempting to break into Sohlberg’s house before attempting to flee the scene. Cards with an Israeli flag with a swastika were afterward found scattered in and around the home.

Meanwhile, Israeli media reported that the Gur Hasidim sect is planning a much larger demonstration for Wednesday. 

According to Ynet, a convoy is expected to depart from various points across the country and head towards Military Prison 10, slowing traffic and blocking roads.

The convoy is reportedly scheduled to take place between 4 p.m. and 8 p.m., in coordination with the Israel Police, unlike previous haredi protests that have caused massive traffic jams.

Some 10,000 protesters block two highways in protest of IDF haredi draft

These protests come nearly a week after some 10,000 haredi draft evaders reportedly blocked eastbound Highway 57 at the Beit Lid-Kfar Yonah intersection.

The protests stalled traffic in the Sharon region for hours and led the Emek Hefer Regional Council to cancel all after-school activities.

Some of the protesters congregated outside of Military Prison 10, where some haredi protesters who attacked Sohlberg’s house are being held. MK Yitzhak Goldknopf was in attendance.

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The Food and Drug Administration will reconsider approving an experimental gene therapy for a deadly and rare childhood brain disorder that it rejected just four months ago, the therapy’s developer, Regenxbio, said on Monday. 

The sudden turnaround is the latest in a series of apparent FDA reversals in the past two months, after leaders installed by the Trump administration resigned or were fired. Just last week, UniQure announced it was cleared to submit an application for a Huntington’s disease gene therapy that the agency had previously spurned and that former commissioner Marty Makary appeared to disparage on national television.

In Regenxbio’s case, the company had applied for approval for a gene therapy for mucopolysaccharidosis type II, also known as MPS II or Hunter syndrome. An enzyme-replacement therapy has long been available for MPS II, but the enzyme can’t enter the brain, so children with the neurological form of the disease experience progressive cognitive decline. 

Continue to STAT+ to read the full story…

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Do placemaking investments truly translate into sustained momentum in home sales over the long life cycle of a large-scale development? It’s an enduring question for homebuilders and master-planned community developers.

At Riverland in Port St. Lucie, Florida, GL Homes makes a case that they do.

The 4,000-acre active-adult master-planned community has sold more than 4,200 homes since launching in 2018 and is ultimately expected to reach roughly 11,000 homes at full buildout. As GL Homes recently unveiled Valencia Vista, the newest neighborhood within Riverland, company leaders point to a deliberate strategy centered on physical and social connectivity — creating places where residents can meet, interact and build community.

“The Paseo is much more than just a pathway, and the connections are much deeper than just getting from point A to point B,” Ryan Courson, GL Homes’ Division President of St. Lucie County, told HousingWire TBD. “The Paseo was designed with open green spaces, lush landscaping, and shaded seating areas to create an environment where neighbors can connect with one another. The Paseo is the heart of Riverland and represents what Riverland is all about, which is a fully connected lifestyle.”

That philosophy is embodied in two signature amenities that have become central to Riverland’s identity: the Paseo Greenway and one of the largest private pickleball complexes in Florida.

Together, they serve as what community developers often seek but rarely achieve at scale – people connectors for people who value such connectivity going in or grow to value it in time.

The business case for connection

Riverland’s Paseo Greenway stretches more than two miles through the community, linking neighborhoods, amenities and gathering spaces through landscaped pathways and trails.

Riverland
Riverland’s Paso Greenway offers residents more than two miles of landscaped pathways and gathering spaces. (Photo courtesy of GL Homes)

Developed early in the community’s evolution through a public-private partnership with the City of Port St. Lucie, the Paseo was designed not only as a recreational feature but as connective infrastructure. Working with city officials, GL Homes incorporated tunnels beneath major roadways, allowing residents to travel the pathway by foot, bicycle or golf cart without crossing busy streets.

The partnership also included the development of a 12-acre public park, with GL Homes contributing land and coordinating public access points. Riverland maintains the pathway system while the city owns and operates the adjacent park.

For GL Homes, the value of the Paseo extends beyond mobility.

The company views the greenway as the physical framework that helps foster resident interaction, community engagement and a stronger sense of place across a development that will eventually encompass thousands of households.

Pickleball as a community-building engine

If the Paseo serves as Riverland’s connective tissue, pickleball has become one of its most powerful social magnets.

Riverland currently features 53 resident-only pickleball courts and plans to expand to 85 courts in the near future, creating what GL Homes believes will be among the largest private pickleball complexes in Florida and potentially the nation.

“It’s no secret that pickleball is wildly popular, especially in active adult communities,” Courson said. “It is by far the highest participation activity at Riverland. We experience over a thousand court reservations per week.”

The scale of participation reflects a broader shift in active-adult community design.

Rather than emphasizing passive amenities traditionally associated with age-restricted communities, today’s buyers increasingly prioritize wellness, activity and opportunities for social engagement.

“One of the biggest lessons or trends we’ve learned at Riverland is the 55+ demographic is more active than ever before, with a major focus on health and wellness,” Courson said. “Also, the Riverland buyer is looking for vibrant spaces to socialize with friends and neighbors.”

That lesson has shaped Riverland’s amenity strategy from the outset. In addition to pickleball, residents have access to tennis and bocce facilities, a 51,000-square-foot fitness center, indoor and outdoor pools, personal training services, restaurants, arts programming and neighborhood social clubs featuring poolside dining, sports lounges and event spaces.

Positioning Valencia Vista for growth

The emphasis on connectivity and community building has struck a chord with buyers in a new-home market landscape otherwise rife with uncertainty and buyer hesitation.

Riverland has recorded more than 120 home sales during the past two months, and GL Homes’ June grand opening of Valencia Vista attracted nearly 1,000 visitors.

The newest neighborhood enters the market with the advantage of being part of an established master-planned community rather than relying on future promises. Prospective buyers can already experience the amenities, social infrastructure and lifestyle offerings that have helped Riverland generate more than 4,200 home sales to date.

About half of Riverland’s buyers relocate from outside Florida, drawn by Port St. Lucie’s growth, relative affordability compared with many South Florida markets, and the community’s lifestyle-focused positioning. Homes currently range from the mid-$300,000s to the upper $800,000s.

While broader housing market conditions remain challenging, Courson believes the active-adult segment continues to demonstrate resilience.

“Not only is the active adult segment more resilient, but they are also less likely to put their lives on hold for short-term, external events impacting the market,” Courson said. “They still want to move forward with retirement plans and live in a place like Riverland.”

For GL Homes, that resilience is being supported by a development strategy that treats connectivity not simply as an amenity, but as a bedrock business driver.

With thousands of homes still to be sold over the coming years, Riverland’s next phase may offer a useful blueprint for how large-scale master-planned communities can translate placemaking investments into long-term absorption success.

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Allegiant Reverse Services is celebrating its 10th anniversary in the reverse mortgage industry. Founded during a period of market uncertainty, the company has expanded its title and settlement operations to serve clients in 48 states, completed 130,000-plus reverse mortgage transactions and built a tenured, high-retention workforce.

As the reverse mortgage industry continues to evolve through changing regulations and needs, as well as new technologies, the company says the importance of trust and experienced professionals remains unchanged.

HousingWire‘s Reverse Mortgage Daily recently spoke with Rob Awalt, founder and president of Allegiant Reverse Services about the company’s first decade of business, the biggest changes he’s witnessed in the reverse mortgage market and what he’s looking ahead to in the next decade.

Editor’s note: This interview has been edited for length and clarity

Sarah Wolak: Given that Allegiant has been around 10 years, that means it was founded during a period of significant disruption in the reverse mortgage industry. What were the beginning stages of building the company and what is it like today?

Rob Awalt: Like any new venture, there’s a lot of energy and excitement about doing something new, and there’s also a lot of waking up at 2 o’clock in the morning.

There was a lot of disruption in the market. The confidence we had moving forward came from having earned our keep over many years at a previous company, building relationships in the industry and a track record of closing a lot of transactions with people who trusted us.

That gave us confidence that we could do it again. The difficult part was that even though the market was in tough shape, we were closing about one-third of all the business nationwide at that time — maybe 30% of the national market. Getting up to speed and building capacity became one of our biggest challenges because people wanted to continue doing business with us at the new company right away, and that created its own concerns and problems.

Wolak: Why was that?

Awalt: We weren’t fully set up yet. When you do a startup, you’re done with what you were doing on a Friday, and on Monday you’re starting a new company — it takes time to establish systems, hire people and secure licenses.

People were asking when they could start opening orders and we were still in the initial phases, beta testing and getting everything in place. We didn’t leave our jobs, spend six months building a company and then launch. We had an idea, three or four of us started it, and then we began adding people. So those relationships and customers started calling early and often, asking when they could start doing business. That gave us confidence we were going to be OK. We just had to build our capacity and we were able to do that.

Like any startup, people were doing things they wouldn’t be doing six months later. They were setting up printers, copiers and fax lines. It was a true small company startup and it grew from there.

Wolak: You touched on relationships. In a write-up you did with the National Reverse Mortgage Lenders Association (NRMLA), you mentioned that about 25 people have been with the company for more than 10 years. You also talk about a “decade of trust.” Can you talk about that philosophy, and how you build and maintain trust in an industry that has sometimes struggled with misconceptions and misinformation?

Awalt: It’s been our focus — and again, a lot of those folks spent 10 years with us at a previous company. The core group has really been together longer than the company itself and the 10-year anniversary.

From day one, when we ventured into the reverse space, most people came from the forward title business. We started getting some bandwidth in 2004 through 2007, when very few people were paying attention to reverse. We earned credibility with some of the larger companies because we were dedicated to the space long before most others.

We made a commitment to the industry, and we’re a mission-based company. People bought into the factor that we’re working with a protected class and this product is misaligned. … We are laser-focused on the borrower first. If we take care of the borrower, the client naturally gets taken care of as well. That’s been our goal from day one. We still regularly discuss how important our role is in this space.

When I look back on the last 10 years and think about what I’m grateful for, it comes down to the care factor and dedication of our people. Reverse mortgages are complex transactions. It’s an all-asset transaction, meaning every asset in our building is touching it: our legal department, our underwriting department … everybody has to touch that file because they’re complex and difficult. And as we expanded nationwide, our team learned the complexities of not just every state, but each county, township and borough. Watching them build that expertise has been impressive.

We spend a lot of time evaluating where we can improve, especially from a technology standpoint, because technology is accelerating everything. But there are areas in our industry, especially in the reverse space, where more technology is needed. It needs to speed up in certain areas, but picking the right areas to speed up and become more efficient is more important than just speeding things up.

The most important touch points are in escrow — working with the client, working with the customer, trying to get the loan closed and being available to that borrower who sometimes struggles a little bit. Those are the natural things.

Hearing our folks on the phone, you can tell they’re talking to a senior because they’ve got this quiet demeanor about them. They’re having a conversation with these people. They’re not just talking at them and trying to explain something.

So you say, “How do you get those people? How do we build our culture?” Let’s face facts: We do it, we work at it, and we try to cultivate that team-first and mission-first mentality. But those conversations they have with people are a big part of our glue.

Wolak: You were an athlete before getting into financial services. What inspired you to get into reverse mortgages and stay in the business for so long?

Awalt: I got recruited into a startup company on the forward side, so that’s how it happened. I owned a 1031 exchange company that I was able to sell to a bank, and that led me into the title business and relationships with different business leaders in the greater Sacramento area.

I had a partner in the exchange business who was in the title business, and he introduced me to people and encouraged me to get involved. Back then, I already had contacts and was running in those circles through the 1031 business. When we sold the 1031 company, it was time to transition, and that’s how I ended up on the title side of things.

We had a small operation that did reverse business, and we were able to cultivate that. We got lucky because the biggest company at the time, Financial Freedom, took a liking to us. We dedicated not only an office but eventually a larger team to the business, and that grew from an office to a bigger office to a standalone division.

At that point, I had to make a decision. Was I going to go with this growth nationwide, or was I going to continue doing what I was doing, which was forward commercial business locally in the Greater Sacramento market? I chose to go national and explore that avenue. The nice thing was that we were able to grow with our customers. As they expanded into new states, we expanded with them on the same timeline.

We didn’t have to be national on day one. They would tell us they were getting licenses in certain states, and we’d have advance notice, so we’d go get licensed in those states as well. We were fortunate to have, for lack of a better term, an amazing company taking us along for the ride because we were good at what we did and dedicated to the space. It wasn’t some big, planned-out strategy. It was organic, and we capitalized on it and ran with it. That’s what brings us to where we are today.

Wolak: You talked about being taken under the wing of Financial Freedom. How did you know 10 years ago that it was time to leave the nest and start your own endeavor?

Awalt: Financial Freedom had exited long before that. … But by that point, we had evolved enough that we were doing business with what were considered the big three at the time — Bank of America, Wells Fargo and MetLife. We evolved alongside the industry.

Around 2015, we saw an opportunity to become independent. We were part of a larger title company, but entrepreneurs are entrepreneurs. We looked at the opportunity to go out on our own, double down on the space and the relationships we had built, and that really launched us.

You take that leap of faith and then you go to work. We hit the ground running and started putting everything together. Four years later, COVID hits and throws another curveball at you. We were able to adapt and adjust to that. We weren’t for sale and we didn’t have our hand up in the air, but we got the attention of some people who wanted us to be part of their portfolio.

Stewart Title has been good to us. They allow us to operate and do what we do while supporting us in areas where it helps. Third-party risk is a real thing. We were a smaller company at the time with a couple of owners, and larger lenders sometimes look at that and say, “We’re willing to work with you, but we’re not going to commit a large amount of business and create that exposure.”

When you have a company like Stewart Title behind you, third-party risk largely comes off the table and their comfort level increases. That’s just smart business. It’s been a good fit for us in those ways.

Wolak: Looking ahead to Allegiant’s next 10 years, what are your priorities for the company? What does success look like?

Awalt: The reverse space is evolving as we speak, with all the proprietary products that Longbridge Financial, Mutual of Omaha, Finance of America, SmartFi and others have introduced. They weren’t relying solely on the HECM or government-backed product. They evolved because they had to, and it’s good to have more products available for retirement planning and broader financial planning.

We’re doing the same thing. We’re continuing to evolve and support the things that help with lending to seniors. I don’t want to limit that to reverse mortgages or even just lending to seniors. You could call it senior-centric, retirement-centric, stability-centric or financial planning-centric. We’re always focused on those areas and asking where we can add value.

As a title company, you’re not out there dictating terms. You’re not the tip of the spear. We’ve always focused on where we fit in and how we can help our lenders and the broader industry. It’s not just about getting transactions. It’s about being part of the framework that’s helping move the industry forward and making these products more accessible so the space can continue to grow.

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A fresh wave of Silicon Valley wealth could soon flow into South Florida.

With OpenAI quietly filing for a confidential IPO alongside market debuts from aerospace giant SpaceX and AI rival Anthropic, billions of dollars in overnight liquidity are about to be unlocked for executives and middle management alike. But instead of reinvesting in the Golden State, this incoming class of newly minted tech multimillionaires is already flooding Florida real estate brokers with calls — triggering what experts say could be a rapid-fire “Tech Exodus 2.0” measured in months, not years.

“The California area codes have already started showing up,” Fort Lauderdale Downtown Development Authority CEO and President Jenni Morejon told Fox News Digital. “It’s just that the conversations are evolving.”

“We get that Malcolm Gladwell ‘tipping effect,’ where you almost have to be in Miami because a lot of your friends and family and neighbors are moving here,” DaGrosa Capital Partners founder and chair Joe DaGrosa also said. “We saw that happen in New York. I think we’re going to see the same thing happen out of California.”

FLEEING FOR THEIR FUTURES, A CALIFORNIA EXODUS UNLEASHES A FLORIDA ‘GOLD RUSH’

Despite its strong talent pool, “Silicon Valley is absolutely a boring place to live compared to Miami,” real estate magnate and Naftali Group CEO Miki Naftali added. “How can you even compare between living in Miami and Silicon Valley?”

This week, SpaceX stock continued to surge following its record-setting IPO last Friday on the Nasdaq, rising more than 35% since it started trading. That briefly made it the fourth-largest global company by market cap before some of those gains were pared back.

SpaceX’s valuation success bleeds into the highly anticipated IPOs of OpenAI and Anthropic, which Reuters reports are both expected to list in late 2026.

Once an IPO hits the public stock market, those paper shares or stock options that employees might own instantly transform into liquid, tradable cash.

“There is going to be this transitional event with the IPO where executives are finally gonna see probably the biggest cash day most of them have ever seen in their lives. And many of them are not making millions, they’re making tens of millions overnight. And I think that’s going to have them thinking long and hard about South Florida and Miami in particular,” DaGrosa, whose firm has spent much of the last two decades investing in real estate, said.

“What we’re seeing here is a shock in a positive way to the financial balance sheets of individuals, particularly out in California, where I think they’re gonna be moving in a matter of months, not years or decades,” he continued.

Nestled between West Palm Beach and Miami, Fort Lauderdale is poised to welcome the tech titans, according to Morejon. The “low-key” culture of Fort Lauderdale and its private neighborhoods could prove to be a refreshing change from the spotlight of California.

CALIFORNIA LOSES FORTUNE 500 CROWN TO TEXAS AS BILLIONAIRE TAX THREAT LOOMS

“Having newcomers here with wealth is really a calibration. Fort Lauderdale has always attracted wealth that’s active, it’s global, it is highly productive. It’s just not performative,” Morejon said. “The wealth doesn’t hide here. It just doesn’t feel the need to announce itself. And I really think what we’re seeing now with AI founders, with the era of liquidity with SpaceX is a generation that’s used to speed and being very public… But many are also reaching a stage where I think they value discretion, it’s becoming an asset.”

“Tech jobs have actually grown 20% since 2021, and the increase in wealth, in terms of our downtown population, has also grown at the same rate. Our downtown economy supports over $43 billion annually in economic impact, and that’s a disproportionate and overarching share in high-value industries like tech, finance, professional services,” she added “So I think you see that this isn’t just a lifestyle narrative, it’s actually an operating environment for new businesses. And we have the engineering and infrastructure emerging to prove that.”

Naftali admits he feels “it’s too early to tell” when or where exactly new millionaires and billionaires will make the coast-to-coast move, and says the migration won’t solely be coming from California.

“Who is leading those IPOs? Those that are leading the IPOs are really based in New York because those are the Wall Street guys that are running the IPOs for the high-tech companies, and they are making huge bonuses,” Naftali said.

“We speak about Silicon Valley, but SpaceX is not in Silicon Valley,” the developer also noted. “But the point is, it’s all about talent, right? They’re all going after the talent… So [that’s] what Florida is still lacking and it’s gonna take time to attract the talent.”

Yet as the talent begins to follow the capital, the ultimate ripple effects will likely extend far beyond luxury beachfront high-rises. The experts argue that a massive wave of public market wealth creates an entirely new class of consumer — and resident — that shifts the cultural fabric of local communities.

“What’s interesting, though, is middle management at SpaceX and all these other companies, middle managers have wealth creation that can be $25, $50, $100 million. So what we would historically think of as a middle manager earning a decent living building wealth slowly over time, it’s a game-changer,” DaGrosa pointed out, noting that as these teams migrate, the housing market periphery will see a massive boom.

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“I think what we see is actually more opportunity for Floridians to get better jobs. I mean, when a state is doing well and making money… more people are moving into the state and spending money,” Naftali said.

“If you’re building a company at scale, you need three things: You need access, you need talent and you need a quality of life that sustains performance,” Morejon stated of her ultimate elevator pitch to incoming West Coast founders. “And if you need a place to dock the yacht, we can handle that, too.”

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The United States has told ASML, the Dutch company with a global monopoly on the most advanced chipmaking machines, that one of those machines may have ended up in China in violation of export controls — a claim the company flatly denies. In a series of recent meetings, U.S. Commerce Secretary Howard Lutnick outlined concerns to ASML’s senior leaders that one of its top-of-the-line machines may have made its way into China, Bloomberg News reported on Thursday, June 18, citing people familiar with the matter.

The next day, ASML pushed back hard. “ASML has never shipped an EUV machine to China nor have we shipped to China any component, module or equipment specially designed to be used in an EUV machine,” the company said in a statement to Reuters on Friday. ASML circulated a document in Washington titled “No indication of any ASML EUV system in China,” mounting a proactive defense rather than waiting for any formal proceeding.

To understand why this matters, start with the machine. EUV — extreme ultraviolet lithography — systems are the only tools on Earth capable of printing the most advanced semiconductor patterns, the chips below roughly 7 nanometers that power the latest AI systems. They are used by companies like Taiwan Semiconductor Manufacturing Co. (TSMC) to make processors for Nvidia and Apple, and ASML has never been allowed to ship them to China because of curbs imposed during the first Trump administration.

ASML’s defense leans on the physical reality of the equipment. The machines are the size of a school bus, are made in limited quantities, and require constant upkeep from ASML employees — which, the company argues, would make it nearly impossible for one to operate undetected inside China. The most advanced systems weigh around 180 tons. The Dutch government added that semiconductor-equipment exports are governed by strict licensing rules and that it enforces them firmly.

As of now, this is a suspicion, not a finding. No public evidence has been presented to confirm any transfer occurred; Washington has voiced a concern, not produced proof. But the gap between those two things matters enormously for ASML’s regulatory standing and its share price, and the dispute lands at a tense moment for the global chip trade.

The business stakes are large. China is one of ASML’s biggest markets. The company expects roughly 20% of its 2026 revenue to come from already-permitted sales to China, mostly of its older, less advanced DUV machines. That revenue is now in the crosshairs of Congress. A bipartisan bill that cleared a key committee in April would toughen curbs on ASML and Japan’s Tokyo Electron and calls for an effective ban on shipments of all immersion DUV tools to China — a far broader hit than EUV alone. The Trump administration has not taken a formal position on the legislation.

The episode is also a stress test for the entire allied export-control system. The whole point of the EUV ban is to deny China the single most important tool in advanced chipmaking. If even one machine can slip through, pressure will build for tighter coordination between Washington and The Hague, and possibly broader restrictions from Japan and other suppliers.

For the chip industry, the ripple effects are real. ASML sits at the chokepoint of a supply chain that feeds smartphone makers, automakers, cloud providers, and the AI build-out consuming much of the world’s new computing power. Anything that threatens its China sales or invites new restrictions reshapes the economics for everyone downstream — and adds another layer of risk to an industry already navigating tariffs and shifting trade rules.

China, for its part, has been pouring money into developing its own lithography technology, though ASML’s leadership has long argued that a homegrown EUV machine remains many years away. CEO Christophe Fouquet has said it will take “many, many years for China to make an EUV machine,” and that there is no proof of a serious product on the way.

The dispute also arrives as semiconductor supply chains become increasingly central to national security policy. Washington has spent years tightening restrictions on advanced chip exports and the equipment used to manufacture them, arguing that cutting-edge semiconductors are critical to military systems, artificial intelligence, and strategic competitiveness. China, meanwhile, has accelerated efforts to build a self-sufficient domestic chip industry in response to those restrictions.

For investors, the uncertainty is difficult to quantify. If the allegation proves unfounded, the controversy may fade into the broader debate over export controls. If evidence emerges that a restricted EUV machine somehow entered China, however, it could trigger a significant escalation in trade restrictions, diplomatic pressure, and oversight of semiconductor-equipment exports.

For now, the standoff is a war of statements: a U.S. concern on one side, a categorical denial and a Washington lobbying document on the other, and no public evidence to settle it. What is not in dispute is the importance of the machine at the center of it — and how much of the modern economy now depends on who is allowed to use it.

JBizNews Desk | Amsterdam

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Deep inside a White House proposal to overhaul how the government awards grants is a short section that health disparities researchers say could disqualify much of their work from federal funding — perhaps the most serious threat yet to the future of their field.

Since it was issued last month, the 412-page proposal has drawn thousands of public comments, in large part because it would diminish the power of peer review in determining which grants are funded, and place that authority with political appointees. Less attention has been given to how the proposed changes could affect efforts to eliminate health disparities research. 

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Dark purple. I see the chat bubble in the top left corner of the electronic health record on my screen flip colors. The change in hue represents a new message: urgent, perhaps, or just another patient who cannot sleep. As one of only two psychiatry providers overnight in the psychiatric emergency room, I know it is most likely a message beamed into the ether by a nurse located 15 feet away from me, locked inside a fishbowl similar to mine.

A long row of eight desktop screens glows in the dim of the workroom. I am a third-year psychiatry resident, and my supervising attending psychiatrist and I sit at opposite ends of the worktop that runs lengthwise across the room. Decades of experience and the heavy scent of stale papers and bleach hang in the balance between us. Behind the dusty screens, a cork bulletin board is crammed with instructionals on how to fill out involuntary hold paperwork, draped communal stethoscopes, and grayscale printouts showcasing the staff’s pets. The occupational therapist’s bug-eyed goldfish and my attending’s regal twin tabbies, Sasha and Mischa, stare back at me from the wall. They are the only living things in the room that look relaxed.

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Pharmaceutical companies are hungry to make deals, and they’re making more than they have in years. 

In the past six months, there have been 32 biotech acquisitions valued at $1 billion or more. Pharmaceutical companies and even some large biotech companies have spent around $123 billion on these deals.

They’ve blown past last year’s totals in roughly half the amount of time. Pharma companies struck 26 blockbuster M&A deals in 2025, spending $112 billion altogether. 

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The clinical research ecosystem has never been more technologically capable — or more burdened by its own ambition.

In December 2025, the Tufts Center for the Study of Drug Development and our team at TransCelerate published research that suggests nearly 30% of the data collected in clinical trials do not directly inform key decisions, yet patients are still asked to provide it. Additionally, since 2005, the number of procedures per protocol has increased by nearly 140%, endpoints by more than 200%, and data points collected by over 600%.

I work with heads of R&D from 18 of the world’s largest pharma companies. It is abundantly clear to me — and to many of them — that the industry’s tendency toward “more is better” when it comes to data collection is fundamentally undermining trials, not improving them.     

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Three people were killed, and five were wounded in a school shooting in the central Philippines, Philippine police said on Monday.

Police said the two suspects have been arrested after the shooting at the San Jose National High School in the city of Tacloban in Leyte province.

The shooting occurred at approximately 9:00 a.m. inside the school in Barangay San Jose, the Tacloban City Police Office said, adding that an investigation is ongoing to determine the circumstances behind the incident.

Tacloban police chief Noelito Getigan told reporters that the suspects used a .38-caliber and 9mm firearm in the shooting.

One suspect, a minor and Grade 9 student, was arrested shortly after the incident, while the other later surrendered to authorities, Getigan said.

Wounded victims taken for treatment

Police said the victims have been transported to nearby medical facilities for treatment, while additional personnel have been deployed at the school to ensure the safety of students, staff, parents, and the surrounding community.

Authorities urged the public not to disseminate unverified information and to cooperate with investigators.

The incident is unusual in the Philippines, where school shootings happen only sporadically.

In July 2022, a gunman opened fire at an Ateneo de Manila University law school graduation ceremony in Quezon City, killing three people, including former Lamitan City mayor Rose Furigay.

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Former Shin Bet (Israel Security Agency) chief Ronen Bar was hastily evacuated from the United Arab Emirates (UAE) following a warning of a possible Iranian-directed attack on him.

Bar was in the UAE with his wife, Dafna Bar-Agassi, to attend a special security conference hosted by UAE Deputy Prime Minister and Foreign Minister Abdullah bin Zayed Al Nahyan (AbZ).

The conference was attended by senior officials from the security, intelligence, and decision-making systems from various countries around the world.

During Bar’s stay in the UAE, an unusual security alert was received, raising concerns about his safety and a possible Iranian attack targeting him, according to Israeli journalist Michael Shemesh. Following the warning, it was decided to immediately evacuate Bar and his wife from the country and fly them back to Israel.

The details of the event and the evacuation were kept under a heavy veil of secrecy and have not been revealed until now.

Continued to engage with public after retirement from Shin Bet

Since his retirement as head of the Shin Bet, Bar has continued to engage in various public initiatives.

In February, Israeli public broadcaster KAN News reported that he was working to promote the establishment of a school for political leadership, a move that aroused criticism in the political system.

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