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WASHINGTON — According to an announcement released by the Office of the United States Trade Representative on Wednesday, July 15, the United States will impose a 25% tariff on selected imports from Brazil beginning July 22, escalating trade tensions between the Western Hemisphere’s two largest economies and signaling a tougher U.S. approach toward what it describes as unfair foreign trade practices.

The tariffs target a range of Brazilian products entering the United States while leaving several major exports—including coffee, beef, orange juice, certain energy products and aerospace components—exempt from the new duties. The administration said the action follows a trade investigation that concluded several Brazilian policies created barriers for American companies and distorted fair competition in key sectors of the economy.

The announcement immediately drew the attention of importers, exporters and financial markets, as businesses began assessing which supply chains could face higher costs and whether additional trade measures could follow. While the exemptions protect several high-profile consumer products from immediate price increases, manufacturers and distributors that rely on affected imports may begin paying substantially more within days.

Trade analysts say the decision reflects a broader shift in U.S. trade policy toward targeted enforcement actions rather than across-the-board tariffs. Instead of focusing primarily on reducing trade deficits, policymakers are increasingly using tariffs to pressure trading partners over market access, regulatory practices and commercial policies viewed as disadvantaging American businesses.

Economic commentators note that Brazil occupies a unique position in U.S. trade. Unlike several countries that have faced previous tariff actions, the United States generally maintains a goods trade surplus with Brazil. That makes the latest move less about narrowing an imbalance in trade and more about changing business practices that U.S. officials believe create an uneven playing field for American exporters and investors.

For U.S. businesses, the effects will vary considerably across industries. Companies importing Brazilian steel products, industrial materials, ethanol, sugar, tobacco and certain manufactured goods could experience higher procurement costs almost immediately. Businesses may absorb part of those increases, negotiate lower prices with suppliers or pass additional costs on to customers depending on market conditions and competitive pressures.

The exemptions were widely viewed by market observers as an effort to avoid unnecessary disruptions for American consumers. Brazil remains one of the world’s largest suppliers of coffee and orange juice to the United States, while its aerospace industry plays an important role in supplying aircraft and aviation components used throughout North America. Leaving those sectors untouched reduces the likelihood of immediate shortages or sharp retail price increases.

Business analysts say the greatest uncertainty now lies in Brazil’s response. If Brazilian officials introduce retaliatory tariffs on American exports, companies operating in agriculture, manufacturing and industrial equipment could face new challenges selling products into one of South America’s largest economies. Such actions have historically increased costs for businesses on both sides while creating additional uncertainty for investors and global supply chains.

Financial markets are also watching whether negotiations resume before the tariffs take effect. Trade disputes often begin with tariff announcements but can ultimately lead to revised agreements that reduce or eliminate duties after negotiations. Investors will be looking for signs that both governments remain willing to pursue a negotiated settlement before the dispute expands further.

Some economists caution that tariffs rarely affect only one side of a trading relationship. While they can provide leverage in negotiations and offer temporary protection for domestic industries, they can also increase operating costs for American companies that depend on imported materials. Whether those costs remain manageable often depends on how easily businesses can shift production or find alternative suppliers.

Commentators also note that the administration’s decision may serve as a blueprint for future trade enforcement actions. Rather than broad measures affecting every import from a country, policymakers appear increasingly willing to target specific sectors while exempting products considered strategically important to U.S. consumers and manufacturers. That approach attempts to maximize negotiating leverage while limiting inflationary pressure and disruptions to critical supply chains.

The coming weeks will determine whether the latest tariff action develops into a broader trade dispute or becomes the catalyst for renewed negotiations between Washington and Brasília. Until then, businesses on both sides of the hemisphere are preparing for higher costs, potential supply-chain adjustments and continued uncertainty surrounding one of the Americas’ most important commercial relationships.

JBizNews Desk | Washington

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Warren Buffett is speeding up the giveaway of his fortune, announcing Tuesday a roughly $6 billion stock donation and a pledge to hand over his entire remaining stake in Berkshire Hathaway within about eight years — while pointedly leaving the Gates Foundation off his list for the first time in two decades.

In a statement released Tuesday, Berkshire Hathaway said the 95-year-old chairman would convert 8,000 Class A shares into 12 million Class B shares and distribute them among four foundations tied to his family. The largest gift, 9 million Class B shares worth about $4.4 billion, goes to the Susan Thompson Buffett Foundation, named for his late first wife and chaired by his daughter, Susie Buffett. Three foundations run by his children — the Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation — will each receive 1 million shares worth roughly $496 million.

Buffett laid out an explicit deadline. His stated goal is to “dispose of all of my Berkshire shares within about eight years,” he said, adding that his remaining stake would go to the four foundations “one way or the other” by December 31, 2034. He said he wants the annual grants to grow over time, with the gift to the Susan Thompson Buffett Foundation rising at a somewhat faster rate. Buffett currently holds 188,290 Class A shares and 1,162 Class B shares, a fortune Forbes values at about $147 billion, making him the world’s tenth-wealthiest person.

The mechanics reflect careful control. Buffett is giving away easily transferable Class B stock — created in 1996 so smaller investors could own a piece of Berkshire — while keeping his Class A shares, which carry nearly all the voting power. That structure has let him donate tens of billions of dollars over the years without loosening his grip on the company he built.

The headline break is with the Gates Foundation. For the first time since 2006, Buffett omitted the charity founded by Microsoft co-founder Bill Gates from his annual gifts. Under the declining schedule he set years ago, he had been due to donate roughly $4.5 billion to the foundation this month. The move follows renewed scrutiny of Gates’s past ties to Jeffrey Epstein after the U.S. Justice Department released documents earlier this year. The Wall Street Journal had reported that Buffett was holding back his scheduled gift pending a law firm’s review of the foundation’s Epstein connections. Gates appeared before the House Oversight Committee last month, calling his association with Epstein a “grave error in judgment” and telling lawmakers he neither witnessed nor took part in any criminal conduct.

The rift has been building. Buffett resigned as a Gates Foundation trustee in 2021, and in 2024 he told the Journal that the foundation would receive nothing from his estate after his death, having revised his will to make his three children trustees of a charitable trust holding more than 99% of his wealth. Over roughly two decades, Buffett’s gifts to the Gates Foundation totaled between $43 billion and $48 billion measured at the value of the shares when donated. In a statement, the foundation thanked Buffett for what it called decades of support.

The announcement matters to investors as much as to the philanthropic world. Buffett’s plan to offload his entire Berkshire position over eight years creates a steady, predictable stream of shares flowing to foundations that typically sell over time to fund their operations — a long-running supply overhang the market will have to absorb. It also underscores that the Buffett era is drawing to a close. He stepped down as chief executive at the end of 2025, handing the reins to Greg Abel, and now serves only as chairman. Berkshire shares have slipped about 8% from their record high set in May of last year, just before he announced his exit, even as the S&P 500 climbed 32% over the same stretch.

For the broader economy, the decision reshapes one of the largest philanthropic pipelines in the world. Redirecting billions annually toward foundations led by his children concentrates enormous giving power in the Buffett family and away from the global health and development work the Gates Foundation is known for. Buffett, who co-founded the Giving Pledge with the Gateses in 2010 and has promised to give away more than 99% of his wealth, is now racing to finish the job on his own timeline — and on his own terms.

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

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According to a recent announcement from Canada’s Department of Finance, a group of allied governments is moving ahead with plans to establish the Defence, Security and Resilience Bank (DSRB), a multilateral financial institution designed to help member nations finance military modernization and defense projects. The proposed bank, modeled after the World Bank, would provide long-term financing for weapons procurement, military infrastructure and defense manufacturing while helping participating countries borrow at lower costs. Canada has agreed to host the institution’s headquarters.

The proposal comes as defense spending across the Western alliance accelerates at the fastest pace in decades. At its recent summit, NATO members committed to increasing defense expenditures toward 5% of gross domestic product over the coming years, placing significant pressure on government budgets already strained by higher borrowing costs and slowing economic growth.

The International Monetary Fund, in its April World Economic Outlook, warned that the renewed global military buildup could significantly increase public debt while forcing governments to make difficult fiscal choices. The IMF found that major defense expansions historically add roughly 14 percentage points to national debt-to-GDP ratios within three years while placing pressure on spending for healthcare, education and other domestic priorities.

Supporters argue the DSRB offers a practical solution. Like other multilateral development banks, member governments would contribute capital, allowing the institution to secure top-tier credit ratings and raise funds in global debt markets at favorable interest rates. The bank would then lend those proceeds to participating nations over extended periods, making expensive defense investments more affordable while helping smooth annual budget pressures.

Backers also hope the institution will attract significant private-sector investment. By providing guarantees and co-financing arrangements, the DSRB could encourage commercial banks and institutional investors to participate in defense projects that have traditionally relied almost entirely on government funding. Officials have discussed an initial lending capacity approaching $135 billion, with additional private capital expected to expand the bank’s overall financing power.

The proposal reflects a broader shift in how governments view defense spending. Rather than treating military investment solely as a security expense, policymakers increasingly describe it as an industrial policy capable of supporting manufacturing, technology development and skilled employment. Defense companies, aerospace manufacturers, electronics suppliers and advanced materials producers all stand to benefit from a more predictable pipeline of long-term financing.

One proposal under discussion would use frozen Russian central-bank assets held in Europe as part of the bank’s capitalization, though that idea remains politically sensitive and has not been adopted. Supporters argue such an approach would reduce the financial burden on taxpayers while helping fund Ukraine’s long-term security and allied defense capabilities.

For financial markets, the bank could create an entirely new category of government-backed defense financing, opening opportunities for institutional investors while providing manufacturers with greater certainty as they expand production capacity. Large defense contractors, suppliers and commercial lenders could all benefit if governments begin financing procurement through a permanent multilateral institution rather than relying exclusively on annual appropriations.

Questions remain over governance, membership, lending criteria and how much private capital will ultimately participate. Even so, the direction is becoming increasingly clear. As geopolitical tensions reshape national priorities, allied governments are not only increasing military spending — they are building the financial infrastructure needed to sustain it for decades to come.

JBizNews Desk | Ottawa

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Mehdi Eskandarian, 44, was a devoted family man who believed in a better future for all Iranians. 

He died on January 9, 2025, in the protests against the Islamic Regime. 

His loved ones remember him as the heart and soul of his family, who always had a positive outlook and hope to spare. 

He was also an active outdoorsman, an athlete, and a lifelong fan of the Persepolis Football Club. 

Who was Iran protest victim Mehdi Eskandarian? 

He believed that the Islamic Regime was unqualified to lead the country and favored Crown Prince Reza Pahlavi’s return to lead Iran. 

He also spoke of his respect for the people of Israel and his wish that Iranian Jews would one day return to visit Iran. 

He frequently posted pictures of the Pahlavi family and posed with the Israeli flag on Instagram, which is a serious offense under the Islamic Republic’s laws. 

Mehdi Eskandarian poses with the Israeli flag in a post on Instagram. (credit: Courtesy of Mohammed Eskandarian)

Six months ago, he took to the streets with thousands of other Iranians to call for change.

He reportedly knew that there was a possibility that security forces might open fire on protesters, but did not tell his family in an effort to protect their hope.

“If we do not go into the streets for Iran’s freedom today, one day our children will have to do it instead,” he told his wife shortly before the protests.

“Today it is our lives, so that they may have a better future.”

Mehdi poses with his daughter. The caption reads:''My vote, it's always no to the Islamic Republic, and I'm making this choice for my daughter's future.'' (credit: Courtesy of Mohammed Eskandarian)

A family man fighting for his children’s future

On the first night of protests, he grew hopeful that change was possible because of the large crowds that had amassed. After Iranian security forces opened fire on the crowd, he helped injured protesters get to safety.

Even after he saw the first day of carnage, he still chose to go back on January 9.

His family lost contact with him that night during the shooting in Fardis, Karaj. They found him at Shahriar Hospital in Karaj with a gunshot wound to his head, as well as injuries to his neck and around his eyes, which the family believes were caused by beatings.

Doctors told the family that if he survived more than 72 hours, he might recover. He survived 75 hours in the hospital on life support, which was later withdrawn without the family’s knowledge.

According to his family, officials claimed that Eskandarian was killed by the Iranian military for alleged involvement with Israel. 

What happened to Mehdi Eskandarian’s body?

After he died in the hospital, his family was forced to collect his body from a morgue by manually searching through piles of dead protesters.

They discovered his body with the bullet still in his head. It was later removed during his autopsy and returned to the family.

His funeral was heavily monitored by state agents, and since then, his headstone has been destroyed by the government multiple times. 

His family was told that because he was a rioter, he deserved to die. 

Eskandarian is survived by his wife and two children, 16 and 8 years old, respectively. 

Since his death, his son, 16, has been forced to become the man of the house’s and has taken on responsibilities far beyond his years. 

On Eskandarian’s birthday, his son spent hours at the grave site hugging the stone and crying. 

His daughter, 8, still wakes up at night crying for her father to come home. She does not understand that he is dead. 

The family told The Jerusalem Post that their “biggest challenge has been losing the person who held the family together.

“Mehdi was the provider, protector, and emotional support for the entire household.”

They believe that “what happened was a war crime and that silence about it is unforgivable.”

The family also noted that they hope for “freedom, peace, and friendship between Iran and Israel,” because they believe that “both nations have suffered from loss and conflict for many years.”

The family has asked the international community to continue speaking out about protesters who lost their lives, and that negotiations between the US and Iran should hold the regime accountable.

“The world should not ignore what happened or allow negotiations without accountability,” the family added in a statement.

“He [Eskandarian]loved his family deeply and worked constantly to build a better life for them. He is gone, but his memory and what he stood for remain with those who knew him.”

This post was originally published on here. 

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Taha Naderi, 18, was fatally shot by Iranian security forces outside an Islamic Revolutionary Guard Corps headquarters in Shahreza, near Isfahan, according to testimony his family gave to The Jerusalem Post on the six-month anniversary of the January 8-9 massacre.

His relatives said a live round severed a major artery in his left leg, leading to repeated operations and the eventual amputation of the limb. Naderi died on January 10 after doctors at several hospitals were unable to stop the bleeding, the family said.

Family recounts shooting near IRGC headquarters

According to the family’s testimony, Naderi was participating in a demonstration on Thursday, January 8, when security forces fired tear gas, smoke grenades, shotgun pellets, and live ammunition into the crowd.

Naderi and two relatives had walked about 100 meters through the demonstration when the tear gas and smoke grenades caused people to flee in different directions, the family said. Naderi and one of his companions took cover against the wall of the IRGC building.

“At that moment, security forces opened fire with shotgun pellets and live military ammunition,” a family member said. “Eyewitnesses reported that several people died right before their eyes.”

The family member said Naderi and his companion were trapped beside the wall and threw stones toward the security forces in an attempt to distract them and create an opportunity to escape. According to the testimony, Naderi’s companion was struck by shotgun pellets, while a live round hit Naderi’s left leg and severed a major artery.

The family said Naderi was taken to the nearest hospital, where doctors resuscitated him twice but were unable to stop the bleeding. He was then transferred to Amir al-Momenin Hospital for several operations and later transported to Al-Zahra Hospital in Isfahan, where doctors performed another emergency procedure.

Repeated operations and amputation

Doctors informed the family on Saturday, January 10, that Naderi’s leg would have to be amputated because blood was no longer circulating through it, according to the testimony. The family said he suffered another cardiac arrest while undergoing dialysis and was rushed back into the operating room.

A memrial for Taha Naderi. (credit: Courtesy Armin Mohebi)

“Eventually, Taha’s amputated leg was carried past my parents before their eyes,” the family member said. “My mother and father both lost consciousness, and 15 minutes later we were informed that he had not survived and had died.”

According to the family, relatives attempted on Monday, January 12, to arrange Naderi’s burial at Bagh-e Rezvan, Isfahan’s main cemetery. Officials told them that overcrowding and administrative procedures would delay the release of his body by two or three days.

“Fearing that the authorities might refuse to release his body to us, we went there every day,” the family member said.

The family said Naderi’s body was eventually released on Friday afternoon and returned to Shahreza.

Authorities altered records and restricted funeral, family says

According to the testimony, two relatives were required in Shahreza to sign a declaration stating that Naderi had not participated in the demonstrations. The family also said his medical records falsely attributed his injuries to “street fighting and a knife wound,” rather than a gunshot.

“We were also required to sign two or three more declarations stating that no more than 20 people could attend the funeral,” the relative said, adding that the family was “strictly forbidden from holding any mourning ceremonies.”

Iran’s January crackdown

Separately from the family’s account, reporting on the January unrest showed that demonstrations had spread across Iran by January 8 after protests began on December 28 amid economic hardship and broader opposition to the Islamic Republic.

Iranian authorities imposed an internet blackout during the unrest, while rights organizations accused security forces of firing on demonstrators and carrying out mass arrests.

The total number of people killed on January 8 and 9 remains disputed and has not been independently established. A hospital-based estimate reported later in January indicated that as many as 30,000 people may have been killed during the two-day crackdown, while the Iranian government acknowledged a substantially lower figure of about 3,000.

Other accounts from Iran have described a broader pattern in which authorities pressured victims’ families to falsify death records, accept state-approved explanations for killings, or remain silent about the circumstances of their relatives’ deaths. Some families were reportedly threatened with the withholding or secret burial of victims’ bodies.

Events held from July 4 through July 9 marked six months since the demonstrations and killings, with participants commemorating those killed during the crackdown. In Naderi’s case, his relatives said they were denied the opportunity to mourn him publicly and were “strictly forbidden from holding any mourning ceremonies.”

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Samsung Electronics reported preliminary second-quarter results on Tuesday that shattered its own profit records, yet the numbers set off a global selloff in chip stocks that pulled U.S. markets down from record highs.

In an earnings guidance filing, Samsung said operating profit for the April-to-June quarter reached roughly 89.4 trillion Korean won, about $58.4 billion — a nearly 19-fold jump from the 4.7 trillion won it earned a year earlier. Revenue came in around 171 trillion won, roughly 130% higher than the same quarter in 2025. The surge was powered by record sales and soaring prices for memory chips — DRAM, high-bandwidth memory and NAND flash — that feed the world’s artificial-intelligence servers.

It was Samsung’s third straight record quarter, and the profit figure cleared Wall Street’s consensus of about 87.3 trillion won. But investors sold anyway.

Samsung shares closed nearly 7% lower in Seoul, and South Korea’s KOSPI index tumbled more than 7%. The reason was simple: the stock had already run up roughly 150% this year, so a blockbuster quarter was baked into the price. “The stock had priced in a historic quarter for months,” said Zavier Wong, a market analyst at eToro, adding that confirmation of good news is often what people sell into.

The selling crossed the Pacific. The Nasdaq Composite fell 1.16% to 25,818.69, while the S&P 500 slid 0.45% to 7,503.85. The Dow Jones Industrial Average lost 130.76 points, or 0.25%, to close at 52,925.15 after earlier touching a new all-time intraday high.

Chipmakers led the retreat. Micron closed down 4.7%, with KLA, Marvell Technology, Broadcom and AMD also falling, and the VanEck Semiconductor ETF dropped more than 3%. Adding to the pressure, Reuters reported that China’s DeepSeek is building its own AI chip, a potential new threat to Nvidia.

Beneath the one-day move sits a bigger worry: whether the AI spending boom that has driven memory prices to extraordinary levels can keep going. Samsung’s results were “dragged down by concerns that AI infrastructure spending can’t keep growing at the pace that has been driving memory prices,” Wong said. The chip rally has been the engine of this year’s stock gains, so any doubt about its staying power hits the broad market, not just tech.

Analysts flagged how high the bar has climbed. Adam Crisafulli of Vital Knowledge noted that second-quarter earnings are likely to be strong in absolute terms, but expectations are now far more bullish than they were heading into the first-quarter season, leaving little room to disappoint. Albert Yong, managing partner at Petra Capital Management, said Samsung’s strong results had largely been priced in after the share rally, and that investors remain worried about the durability of the AI boom.

For everyday Americans, the connection runs through retirement accounts. The biggest 401(k) and index-fund holdings are heavily weighted toward the same handful of chip and technology names that swung Tuesday. When a single earnings report in Seoul can knock a percentage point off the Nasdaq, it shows how concentrated the market has become around the AI trade — and how much ordinary savers are riding on it.

There were pockets of strength. Samsung’s foundry business returned to monthly profitability in June for the first time in three years, and the company has secured a $16.5 billion contract from Tesla to manufacture AI chips. Rival SK Hynix has seen its market value more than double this year on the same memory demand.

Samsung releases full second-quarter results on July 30, when investors will see exactly how much of the record profit came from the memory business and whether the mobile division absorbed higher chip costs. Until then, the market’s message is clear: even a historic earnings report is no guarantee of higher share prices when expectations have already reached extraordinary levels.

JBizNews Desk | Seoul, South Korea

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Gotham FC, the reigning National Women’s Soccer League champions, will make Queens their permanent home alongside the New York City Football Club (NYCFC). On Tuesday, Gov. Kathy Hochul and Mayor Zohran Mamdani announced the team’s move from New Jersey to Etihad Park, the city’s first-ever professional soccer stadium under construction in Willets Point, in 2028. The fully electric stadium, designed by HOK, is slated to open for NYCFC’s season next spring, establishing Queens as a major hub for soccer across the five boroughs.

Courtesy of Gotham FC

Developed by NYCFC, Related Companies, and Sterling Equities, the seven-story stadium topped out in March. The venue will feature 25,000 seats and dedicated spaces for Gotham FC, including its own locker room and club merchandise area.

Located across from Citi Field, the stadium will feature a striking, “activated cube” entranceway, which will be illuminated on match days with vibrant colors and imagery to provide a dynamic experience for visitors. S9 Architecture and Turner Construction Company are design and construction partners on the project, as 6sqft previously reported.

“From Sam Kerr’s legendary four-goal comeback to Midge Purce’s championship-clinching heroics, Gotham FC has given us some of the greatest moments in women’s soccer,” Mamdani said. “Now the next electrifying chapter of that story will be written in NYC.”

“Bringing Gotham FC to Queens means that the young girl kicking a ball around Jackson Heights, Jamaica or the South Bronx will be able to take the train and watch some of the best players in the world in her own city,” he added.

Credit: NYCFC

Gotham FC has been playing in Harrison at Sports Illustrated Stadium since 2020. The team’s relocation to Etihad Park aims to match the ambitions of the club itself, a two-time NWSL champion and the reigning league titleholder.

Carolyn Tisch Blodgett, governor of Gotham FC, said the move reflects the club’s commitment to its fans and the continued growth of women’s sports.

“From day one, our ambition has been bigger than championships,” she said. “We are building one of the world’s most iconic clubs and helping define the future of women’s sports. Our move to Etihad Park reflects that ambition.”

“World-class athletes deserve world-class environments, and this move allows us to keep raising the standard for our players, supporters and the game itself,” she added. “Gotham FC is showing what is possible when you invest boldly in women’s soccer, and we are committed to building an experience worthy of the fans who have believed in this club from the beginning.”

NYC Mayor’s Office

Building on the club’s growing investments, Gotham FC is set to receive a new state-of-the-art training hub in Whippany, New Jersey, designed by SHoP Architects next summer.

Announced last month, the project will transform the former New York Red Bulls training facility into a purpose-built hub focused on player performance, recovery, and well-being. It will be among the first facilities to meet the NWSL’s new training standards.

Gotham FC is also set to face the Washington Spirit at Citi Field on July 15 in a rematch of one of women’s professional soccer’s biggest rivalries. The match will mark the first women’s sporting event held at the home of the New York Mets and will take place four days before the men’s FIFA World Cup final at MetLife Stadium.

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Joby Aviation is moving closer to making electric air taxis a reality in New York after completing demonstration flights and advancing plans to connect Manhattan with John F. Kennedy International Airport, a trip that could eventually take less than 10 minutes instead of up to two hours by car.

The company is working with the Port Authority of New York and New Jersey and the New York City Economic Development Corporation (NYCEDC) to prepare infrastructure for commercial electric vertical takeoff and landing (eVTOL) aircraft. The project represents one of the most advanced urban air mobility initiatives in the United States.

Earlier this year, Joby successfully completed demonstration flights between JFK Airport and Manhattan heliports, marking the first point-to-point flights of an electric air taxi in New York City.

“Our responsibility is to ensure the region’s transportation network keeps pace with the future,” said Kevin O’Toole, Chairman of the Port Authority. “This technology has the potential to transform regional mobility.”

Unlike traditional helicopters, Joby’s all-electric aircraft is designed to take off vertically before transitioning into winged flight. The company says the aircraft produces significantly less noise than conventional helicopters while generating zero in-flight emissions.

The initiative is receiving support from New York City, which has begun upgrading publicly owned heliports with charging infrastructure needed to support electric aircraft.

Joby is also building commercial partnerships designed to make booking flights seamless. Agreements with Delta Air Lines and Uber are expected to allow travelers to reserve air taxi trips through existing travel platforms, integrating the service into airport itineraries.

The company strengthened its New York presence last year through the acquisition of Blade Air Mobility’s passenger business, providing access to established airport shuttle operations, lounges and heliport facilities.

Commercial service, however, is not yet ready for takeoff.

Joby continues working through the final stages of Federal Aviation Administration (FAA) certification before it can begin carrying paying passengers in the United States. The company expects its first commercial operations to begin after regulatory approval, with New York among its priority markets.

Early fares are expected to remain premium-priced, with industry estimates ranging between $150 and $300 per passenger for flights between Manhattan and JFK.

While initially targeting business travelers and premium customers, Joby believes costs will decline as production expands and additional aircraft enter service.

For businesses, the technology could eventually reshape airport transportation by dramatically reducing travel times for executives, tourists and frequent flyers while creating an entirely new segment within the transportation industry.

Although widespread adoption remains several years away, New York is positioning itself to become one of the first major U.S. cities where electric air taxis become part of everyday transportation.

JBizNews Desk | New York

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The Islamic Republic executed at least 101 people in June alone, bringing the known number of state-sanctioned killings to at least 370 in the first six months of the year, the nonprofit organization Iran Human Rights (IHRNGO) reported on Monday.

At least nine women were among those executed, according to the organization, which said it is also investigating unverified reports of more than 400 additional possible executions.

Of the 370 documented executions, at least 55 were carried out on charges related to national security, including 18 individuals who had participated in anti-government protests, according to IHRNGO.

Among those named by the organization as having been executed since the beginning of the year for their alleged roles in protests were Saleh Mohammadi, Saeed Davodi, Mehdi Ghasemi, Amirhossein Hatami, Mohammad Amin Biglari, Shahin Vahedparast Kolor, Ali Fahim, Amir Ali Mir Jafari, Erfan Kiani, Sasan Azadvar, Ebrahim Dolatabadinejad, Mehdi Rasouli, Mohammadreza Miri, Mohammad Abbasi, Abbas Akbari Feizabadi, Ashkan Maleki, Mehrdad Mohammadinia, Fathollah Avari, Javad Zamani, and Abolfazl Saedi.

Mehrab Abdollahzadeh, a Kurdish protester involved in the “Woman, Life, Freedom” movement, was also executed, according to the group.

Only 53 of the recorded executions were announced by official sources, while the remainder were documented through two independent sources known to IHRNGO.

IHRNGO, calls on the international community

Mahmood Amiry-Moghaddam, director of IHRNGO, called on the international community to make human rights a central issue in any engagement with Tehran.

“Any agreement with the Islamic Republic by states committed to human rights principles must make a moratorium on the death penalty a central condition,” he said. “The EU and its partners can and must play an important role in stopping executions in Iran.”

IHRNGO urged governments to prioritize the human rights situation of Iranians in any dialogue with Tehran. The comments echoed concerns raised last week by Mai Sato, the UN special rapporteur on the situation of human rights in Iran, who criticized a recently signed memorandum of understanding for failing to address the needs of the Iranian people.

Speaking with Geneva Solutions last week, Sato said, “The Iranian people are effectively absent from this framework” and noted that US President Donald Trump’s focus on human rights from the early days of the war did not materialize into any real demand for change.

The Islamic regime has continued sentencing individuals said to be involved in the January uprising this week. At least five alleged protesters were sentenced to death on the charge of “enmity against God,” Iran International reported.

The charges range from alleging the defendants attacked a mosque with Molotov cocktails, took part in illegal gatherings, “assembly and collusion,” and alleged offenses under Iran’s espionage law, including cooperation with Israel, according to the Diapora site.

The Hengaw human rights organization also reported that 32-year-old Kamal Khanbabai was sentenced to death by Branch 1 of the Revolutionary Court in Qazvin over allegations he damaged two security cameras during the January protests. He was sentenced under the charge of waging a war against god. The organization also reported that Vahid Khan Sanami was sentenced to death in connection with the January demonstrations under the same charges.

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Police enforcement of Israel’s law prohibiting the purchase of prostitution services has been concentrated in a handful of stations, while recognized victims of trafficking for prostitution have faced residence-visa decisions that at times departed from the Population and Immigration Authority’s procedures, State Comptroller Matanyahu Englman found.

The audit, conducted from December 2024 through July 2025, examined enforcement of the law, investigations into trafficking for prostitution, protection of victims, and decisions on residence visas.

“The constitutional duty to protect human dignity, liberty and physical integrity lies at the heart of the state’s obligations,” Englman said on Tuesday. “The audit found deep gaps in implementing the law prohibiting the purchase of prostitution services, and a significant concern of under-enforcement of offenses related to prostitution and, in particular, trafficking in women for prostitution purposes.”

Police issued 3,004 fines to purchasers of prostitution services in 2022, but that number fell to 902 in 2023 and 378 in 2024. Although the number rose to 1,061 in 2025, it remained about 65% below the 2022 figure.

The enforcement gap was also geographic. About 99% of fines issued between 2021 and 2025 came from the Tel Aviv, Central, and Coastal districts, almost exclusively through the Zevulun, Rishon Lezion, and Sharett police stations.

In 2024, the Southern, Northern, and Jerusalem districts issued no fines, despite police information on suspected prostitution venues within their areas, the report said.

Police had mapped more than 1,300 addresses nationwide suspected of being prostitution venues in 2024, hundreds of them assessed as medium- or high-reliability leads. About 40% were in the Tel Aviv District. Yet, the comptroller found, much of that information was not translated into enforcement.

Police closed 13 brothels in 2024 and 29 in 2025, for a total of 60 between 2022 and 2025. Since a 2017 law allowing courts to order the closure of websites used for certain offenses took effect, only 95 such orders have been issued in cases involving the solicitation, advertising, or marketing of prostitution.

The report also criticized the low use of a rehabilitative-educational alternative to fines. Of 5,345 fines issued between 2022 and 2025, only 111 people completed the program, a rate of two-percent. The program is intended to increase awareness of the harm caused by prostitution and reduce repeat offending.

Police translated only 44% of their already limited intelligence on trafficking in persons into operational activity in 2024, leaving 56% unused, according to the report.

Police also did not set national targets for fines under the prostitution law until 2025. In trafficking cases, the Coastal, Central, and Judea and Samaria districts did not solve a case between 2022 and 2024, despite a combined target of eight cases.

The police cell responsible for human-trafficking cases at national headquarters had only one officer at the end of the audit in July 2025. Additional positions approved that year had not yet been filled.

Tel Aviv District remained the only district with a dedicated police department handling trafficking offenses and related crimes. The police decided in September 2023 to establish similar departments in the Central and Coastal districts, but the formal establishment order was issued only in February 2025, and both departments remained incomplete as of August 2025.

The comptroller noted positively that Tel Aviv’s department opened 13 significant trafficking cases between 2022 and 2024, including complex investigations, indictments, and proceedings that ended in convictions.

Prostitution trafficking victims face obstacles remaining in Israel

The report also identified problems in the Population and Immigration Authority’s treatment of victims of trafficking for prostitution seeking permission to remain in Israel.

Women with price tags on their hands are displayed in the window of a store called Woman To Go in a shopping mall in Tel Aviv to raise awareness about and protest against the trafficking of women. (credit: NIR ELIAS/REUTERS)

It found that the authority had, in some cases, conditioned a victim’s return to Israel to complete a rehabilitation year on an exceptional financial guarantee; issued limited residence visas that did not comply with its procedures for trafficking victims seeking to testify, despite police determinations that their continued presence was necessary; required a reassessment of victim status after a police investigation was closed; and sent inspectors to determine whether victims had returned to prostitution, though that fell outside the inspectors’ defined mandate.

The report said disputes over visas had emerged in recent years between the authority and the Justice Ministry’s Legal Aid Department. The department filed appeals and tort claims aimed at compelling the authority to issue visas in accordance with the law, describing the proceedings as avoidable and wasteful.

The coordinator in the Justice Ministry’s anti-trafficking coordination unit said the authority’s systematic denial of work visas to trafficking victims was unreasonable and contrary to government decisions and the authority’s own procedures.

According to the report, the coordinator warned that the policy could push victims back into prostitution, harm criminal cases in which substantial resources had been invested, and lead to a decline in Israel’s standing in the US State Department’s annual Trafficking in Persons Report.

The report noted that the State Department ranking concerns trafficking in persons broadly, not only trafficking for prostitution. Israel has remained in Tier 2 since 2020, according to the comptroller, placing it at risk of a further downgrade to the lowest tier, which could carry broad sanctions.

Government plans to combat trafficking remain unfinished

The government’s five-year national plan to combat trafficking in persons is due to end in late 2026, but several tasks remain unfinished. Cooperation between the police and the Population and Immigration Authority’s Enforcement and Foreigners Administration had not been regulated through a formal procedure.

The online public hotline handled only 47 inquiries between 2022 and 2024. As of May 2026, the coordination unit had not formulated a structured annual interministerial training plan, while arrangements for financing transportation of trafficking victims to shelters remained unresolved, despite the Welfare Ministry funding the transport in practice in 2025.

Englman recommended that police strengthen consistent enforcement, make fuller use of existing intelligence and public reports, and examine privacy-protected information sharing with Health Ministry Levinsky Clinics to help identify prostitution venues.

He also called on the Population and Immigration Authority to issue residence visas to trafficking victims in accordance with its authority and procedures.

“Six years after the law prohibiting the purchase of prostitution services came into force, the enforcement measures taken are not enough,” Englman said. “Implementation of measures to combat trafficking for prostitution, protect victims and provide treatment is also deficient and incomplete.”

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The IDF at 8:00 a.m. (3:00 p.m. Israel time) on Monday started mapping out and categorizing buildings in Venezuela as either due to be demolished or potentially salvageable despite being damaged, following the tragic June 24 earthquakes, which killed at least 3,300 people, but probably thousands more.

Led by IDF Brig. Gen. Elad Edri, the Israeli delegation is much smaller and has a different focus than recent missions to Turkey and elsewhere.

If, in some past missions, the IDF delegation had over 400 members to assist, Edri noted that this delegation has only around 30, at Venezuela’s request.

IDF’s focus in Venezuela centered around providing engineering

Further, if, in other instances, the IDF was used for immediate rescue missions, Edri said that the IDF’s focus in Venezuela has been providing engineering experts to assess the vulnerability of damaged buildings that are still standing.

In addition, Edri explained that the IDF engineers have provided guidance to Venezuela on how to handle debris from the damaged buildings.

According to multiple options which the IDF engineers offered to the Venezuelan government, he stated that Caracas decided on trying to reincorporate debris into later building efforts through a recycling process.

Another example of how this operation has been different is that IDF Col. Golan Vach, who is well-known in Israel having run the Turkey rescue mission in 2023 and also managed the mission to find the body of Israel’s final hostage, Ran Gvili in early 2026, has not been involved.

Had the mission been a regular rescue mission, it is possible that he might have been.

Venezuela received IDF soldiers with open arms

Despite this, Edri said that Venezuela has received the smaller expert team with open arms, that the soldiers have kept their uniforms on with the symbol of Israel prominently displayed, that they have visited with the 5,000 Venezuelan Jewish community, and have been well protected by local Venezuelan security forces.

Following the June 24 earthquake, the IDF delegation flew out of Israel on June 30 and landed in Venezuela on July 1 after multiple complex stopovers, said Edri.

In addition, he said that other delegations who wanted to assist with the disaster have sometimes needed four to five days of travel and waiting in order to arrive at the disaster site given the current state of chaos in Venezuela.

Even the IDF could not fly directly into Caracas, instead flying into Valencia and then traveling to Caracas domestically.

Edri anticipated that the IDF delegation would return to Israel on July 12, but an IDF spokesperson added that this date could be adjusted according to instructions from the Israeli political and diplomatic echelon. 

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The clearest sign that the war with Iran is winding down is not in a presidential speech but at the gas pump. The national average price for a gallon of regular gasoline fell to $3.83, AAA reported Thursday, down nearly 50 cents from a month earlier—even as a record 72.2 million Americans traveled at least 50 miles from home for the Independence Day holiday, with roughly 85% driving. That relief traces largely to crude oil, which has dropped back to prices last seen before the conflict began.

President Donald Trump used his July 4 address on the National Mall to declare victory over Iran, but the energy market told its own story. West Texas Intermediate (WTI) crude traded near $68.50 per barrel on Thursday, its lowest level since Feb. 27, the day before the war began, as shipping through the Strait of Hormuz continued recovering. Brent crude, the international benchmark, held around $72 in light Friday trading. During the height of the disruption, oil prices had surged above $120 per barrel.

The recovery is being driven by the return of tanker traffic through one of the world’s most important energy chokepoints. Saudi Arabia’s crude exports have climbed back to about 90% of pre-war levels, while the United Arab Emirates has restored exports to more than 3.9 million barrels per day, pushing total daily shipments through the Strait above 10 million barrels.

The recovery, however, is not yet complete. Shipping traffic remains below the 100 to 130 vessels that typically transited the waterway each day before the conflict. Naval mines still require removal in some areas, and it will take time for Middle Eastern oil production to fully recover.

That gap between calmer prices and a partially restored shipping route is where the market’s biggest risk now lies.

Tamas Varga, an analyst at PVM Oil Associates, said the reopening of the Strait, Kuwait’s decision to lift force majeure restrictions, and the end of the U.S. naval blockade convinced many traders that the worst of the disruption had passed.

Others remain more cautious.

Warren Patterson and Ewa Manthey of ING warned that energy markets may be underestimating how long the recovery could take, leaving oil prices vulnerable to renewed increases if supply returns more slowly than expected or if fighting resumes.

Government forecasts are also likely to change.

The U.S. Energy Information Administration (EIA) based its June outlook on assumptions that the Strait of Hormuz would remain largely closed, projecting Brent crude would average approximately $105 per barrel during June and July.

Current market prices have already moved well below those projections, making a downward revision in the agency’s next monthly report, scheduled for July 7, increasingly likely.

For consumers, the relationship is relatively straightforward.

Historically, every $1 change in crude oil prices translates into roughly 2.4 to 2.5 cents per gallon at the gasoline pump.

Gasoline remains expensive by recent historical standards. The national average peaked at $4.56 per gallon on May 21 and remains among the highest levels seen in four years. Even so, prices have moved decisively lower, falling below $4 per gallon for the first time in months after beginning the year below $3 and sitting just under that level on Feb. 28, the day the war began.

Financial markets reopen Monday following the Independence Day holiday, launching the second half of 2026 with energy likely to remain one of investors’ primary focuses.

Oil producers, refiners, pipeline operators and shipping companies tied most closely to the Persian Gulf will begin trading against a simpler question than the one addressed during Saturday’s political speeches—not whether the war has ended, but whether the current stability lasts long enough for global energy supplies to normalize.

The preliminary diplomatic agreement reached last month established a 60-day negotiating window to address unresolved issues, including Iran’s nuclear program and Tehran’s proposal to charge transit fees for vessels using the Strait of Hormuz, a concept the United States rejects on the grounds that the waterway is an international shipping route.

For now, motorists are seeing the benefits while investors remain cautiously optimistic.

Gasoline prices are telling one story.

The geopolitical map of the Persian Gulf is still telling another.

Which one proves more durable over the next two months could have a far greater impact on the American economy than the fireworks that marked the nation’s Independence Day.

JBizNews Desk | New York
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President Donald Trump said Thursday that Federal Reserve Chairman Kevin Warsh should have the freedom to lower interest rates but faces resistance from other policymakers at the central bank, adding new political pressure as signs emerge that the U.S. job market is slowing.

Speaking during an Oval Office interview with CNBC’s Joe Kernen, Trump said Warsh “has to do what he has to do,” while suggesting the Fed chairman privately favors lower rates but is dealing with a board that is resistant to changing policy.

The comments came just hours after the Bureau of Labor Statistics reported that employers added only 57,000 jobs in June, a much weaker hiring pace that immediately reignited debate over whether the Federal Reserve could begin cutting interest rates later this year.

Trump nominated Warsh to lead the Federal Reserve earlier this year. The U.S. Senate confirmed him on May 13, and he was sworn into office on May 22.

Since taking over, Warsh has led a central bank that has kept its benchmark interest rate in a range of 3.50% to 3.75%, where it has remained since late 2025.

During the interview, Kernen asked whether the weaker jobs report gives the Fed more room to reduce rates after investors had recently worried the next move could instead be another increase.

Trump responded that he believes Warsh is a capable chairman who would like to ease policy but suggested other members of the Federal Reserve Board are pushing in a different direction.

The president again made clear that he wants borrowing costs to come down.

The remarks contrast with the Federal Reserve’s most recent policy meeting on June 17, when officials left interest rates unchanged for a fourth consecutive meeting.

Updated economic projections released after that meeting showed policymakers becoming more cautious about inflation, with nine of the eighteen officials submitting forecasts expecting at least one interest-rate increase before the end of the year.

Inflation remains well above the Fed’s long-term 2% target.

Consumer prices increased at an annual rate of 4.2% in May, driven in part by higher energy costs following the conflict involving Iran, reinforcing the central bank’s concern that inflation pressures have not fully subsided.

Warsh has consistently emphasized that future policy decisions will depend on incoming economic data rather than political pressure.

Since becoming chairman, he has said restoring price stability remains the Federal Reserve’s primary objective and declined to provide detailed forward guidance about future interest-rate decisions.

Thursday’s weaker employment report nevertheless shifted expectations across financial markets.

Investors who had recently priced in the possibility of another rate increase scaled back those expectations, with some now anticipating the Federal Reserve could lower rates before the end of the year.

The next meeting of the Federal Open Market Committee is scheduled for July 28–29.

Lower interest rates generally reduce borrowing costs for consumers and businesses, making mortgages, auto loans, credit cards, and business financing less expensive while often supporting stock prices.

During the same interview, Trump argued that Wall Street’s reaction to economic data has fundamentally changed.

He said strong economic reports now sometimes push stocks lower because investors believe solid data reduces the likelihood of Federal Reserve rate cuts—a reversal from the traditional relationship between economic strength and market performance.

Trump also renewed his criticism of Federal Reserve Governor Lisa Cook, saying he intends to pursue her removal after the U.S. Supreme Court returned a related case on procedural grounds earlier this week rather than ruling on its merits.

Meanwhile, former Fed Chair Jerome Powell continues serving as a member of the Federal Reserve Board, underscoring the continuing evolution of the central bank’s leadership.

For businesses and consumers, the Federal Reserve’s next move carries enormous financial consequences.

Interest-rate decisions directly affect borrowing costs, corporate investment, housing affordability, consumer spending, and stock market valuations. As the economy shows signs of slowing while inflation remains elevated, investors will closely watch the July meeting to see whether Chairman Kevin Warsh begins moving toward the lower rates President Trump continues to advocate.

JBizNews Desk | Washington

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The world’s biggest sporting event may also give America’s job market an unexpected boost.

According to a new forecast from Goldman Sachs, the FIFA World Cup could add approximately 40,000 jobs to the June U.S. employment report as millions of visitors travel across the country for matches, increasing demand for hotels, restaurants, transportation, entertainment, and retail workers.

The estimate comes just ahead of Thursday’s closely watched June employment report, one of the most important economic releases of the month and a key indicator for the Federal Reserve as it evaluates the strength of the U.S. economy.

Economists surveyed by Dow Jones expect employers to have added roughly 115,000 jobs during June, down from 172,000 in May. Goldman Sachs, however, believes the World Cup could temporarily lift payroll growth closer to 140,000, with roughly 40,000 of those jobs directly tied to tournament-related hiring.

The investment bank based its analysis on payroll information from Homebase, a workforce management platform serving thousands of small businesses nationwide.

The hiring surge has been concentrated in the tournament’s host cities, where restaurants, hotels, stadiums, retailers, and transportation companies have expanded staffing to accommodate millions of domestic and international visitors.

According to Goldman, hiring in the 11 U.S. World Cup host cities declined only 1.2% from a year earlier, compared with a 3.5% decline across non-host markets. Hospitality employment increased nearly 9.5% in those cities as businesses added workers to meet the surge in customer demand.

For local businesses, the tournament represents one of the largest short-term economic opportunities in years.

Hotels require additional housekeeping and front desk employees. Restaurants need more servers, cooks, bartenders, and managers. Airports, transit systems, rideshare companies, retailers, security firms, and entertainment venues have all expanded staffing as visitors continue arriving from around the world.

While the hiring boost is meaningful, economists caution that much of it will likely prove temporary.

Goldman expects the World Cup’s impact to diminish significantly in July before turning slightly negative in August as many seasonal positions disappear after the tournament concludes. That means some of June’s hiring strength may simply reflect jobs being pulled forward rather than long-term employment growth.

For Federal Reserve policymakers, that distinction matters.

A stronger-than-expected payroll report driven by temporary sporting-event hiring does not necessarily indicate a stronger underlying economy. Economists will closely examine wage growth, labor-force participation, and private-sector hiring to determine whether job creation remains healthy after removing the World Cup effect.

The tournament is also expected to generate billions of dollars in additional economic activity through tourism, hotel stays, restaurant spending, transportation, shopping, and entertainment. Those benefits extend well beyond employers, supporting thousands of small businesses across host cities while generating higher tax revenues for local governments.

The final match will be played in the New York–New Jersey region later this month, placing one of the nation’s largest economic markets at the center of the global event.

For businesses, the World Cup provides a welcome burst of consumer spending during the summer travel season. For economists, however, it also creates a temporary distortion that must be separated from broader labor-market trends.

When Thursday’s employment report is released, investors will be looking beyond the headline number to determine whether hiring remains fundamentally strong—or whether part of the gain simply reflects the economic impact of the world’s biggest soccer tournament.

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Residents of Arad have launched a protest campaign against what they describe as a “takeover of the city by Gur Hassidim,” with a rally scheduled for Thursday.

Organizers say the Gur community is attempting to gain control of the city, posing what they view as a serious threat to Arad’s character and residents.

Tensions have escalated in recent weeks, at times erupting into violent confrontations. During one clash in a residential neighborhood, Gur Hassidim were filmed attempting to abduct teenagers who had arrived at the scene. A member of the Gur community was also filmed holding a knife during the incident.

Additional clashes broke out during protests against the arrests of yeshiva students accused of evading military service. Residents who are not members of the Gur community attempted to prevent protest convoys from leaving the city.

Four Arad residents were arrested during the demonstrations and taken for questioning at the local police station. None belonged to the Gur community. One of those arrested was a mother of five.

The arrests prompted a group of residents to demonstrate outside the police station.

“The violence began on the part of the Gur Hassidim and deteriorated into violence on both sides,” said Shlomi Tavachnik, an Arad native and resident who joined the protests against what residents describe as the Gur Hasidic community’s takeover of the city.

Tavachnik: A protester had a knife

“The Gur Hassidim were the most violent during that incident,” said Tavachnik. “There is even footage of one of them pulling out a knife. Police officers who subdued him and took the knife from him later released him near his home.”

The Gur protest convoy was expected to depart from an assembly point in the city’s industrial zone. The gathering was initially planned for the plaza outside the central synagogue but was later moved to the industrial zone.

Residents who are not part of the Gur community also arrived at the site to block the convoy from leaving. Their arrival further inflamed tensions in the city, leading to the confrontation that followed.

The protesters accuse law enforcement authorities of discriminating against them in favor of the Gur community.

“They are carrying out selective enforcement,” Tavachnik said. “They treat us, the city’s residents, like second-class residents. That is why we decided that we would no longer remain silent, and that we would respond to the violence we have been suffering here for two and a half years and to the dismissive treatment we receive from the authorities and law enforcement.”

The Gur Hassidim began protesting after a couple from the community was arrested on suspicion of abusing their infant son.

“The Gur Hassidim launched a violent protest, and the people of Arad who are not Gur Hassidim paid the price,” Tavachnik added. “This included being beaten, spat on, and having their vehicles damaged, while the Gur Hassidim got what they wanted and the couple who were arrested were released to their home.”

The tensions between the communities developed against the backdrop of municipal elections held approximately two and a half years ago.

The Gur community backed Yair Maayan, the winning candidate, and its affiliated party received 33% of the vote. Maayan’s party received less than 10%.

As a result, Maayan had to rely on representatives affiliated with the Gur Hasidic community to form a municipal coalition.

Five of the city council’s 14 members belong to Agudat Yisrael, the party affiliated with Arad’s Gur community. They were joined by representatives of other religious parties and the two elected members of Maayan’s Likud faction.

According to Maayan’s biography, he moved to Arad from Moshav Mabu’im in the Negev in 2023.

The coalition agreement brought significant benefits to members of the hassidic community. Public buildings, including kindergartens and bomb shelters, were transferred to the community’s control.

New hassidic neighborhood planned for Arad

More recently, developers affiliated with the community received extensive plots of land in a new neighborhood planned for construction in the coming years.

These developments further fueled tensions between the Gur community and other Arad residents. The dispute has repeatedly intensified and subsided following decisions to give the community responsibility for various municipal properties and transfer control of those properties to it.

The growth of Arad’s Gur community was driven largely by its members’ need for alternative housing and the city’s relatively low property prices.

Hassidim began buying and renting apartments throughout the city, particularly in older public housing developments where aging buildings had driven down property prices.

Previous residents left those developments in search of better housing, and many moved out of Arad altogether.

As the hassidic community grew, its residential areas expanded into other parts of the city. The growing population required additional public facilities, leading the haredi education system to adapt existing institutions, including kindergartens and schools, to meet the community’s needs.

After a missile struck a residential neighborhood where many members of the community live during Operation Roaring Lion, it emerged that some bomb shelters in the housing developments had been converted into kindergartens or synagogues.

Tensions between the Gur community and other residents have risen sharply in recent weeks amid haredi protests against the enlistment of yeshiva students and the arrests of draft evaders.

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Anthropic is getting into the business of inventing medicines. On Tuesday, at an event in San Francisco, the artificial-intelligence company announced it will launch its own internal drug discovery program while introducing a new research platform called Claude Science for drugmakers, scientists and universities.

Eric Kauderer-Abrams, Anthropic’s head of life sciences, said the company’s in-house effort will focus on “neglected” diseases—conditions that traditional pharmaceutical companies often overlook because they offer limited commercial returns. He said the internal program is designed to give Anthropic firsthand experience developing medicines while improving the AI tools it sells to the biopharmaceutical industry.

The company’s larger commercial push is Claude Science, a version of its Claude AI models designed specifically for scientific research rather than general conversation. The platform integrates scientific databases, computing resources and specialized tools for genomics, proteomics and drug discovery. Available in beta for Pro, Max, Team and Enterprise users on macOS and Linux, it can analyze large research datasets, review scientific literature, interpret biological data and visualize three-dimensional protein structures—an essential part of modern drug development.

The strategy is straightforward: provide advanced AI tools to researchers searching for new medicines. Bringing a drug from discovery to market typically takes more than a decade and costs billions of dollars, with much of that time spent identifying and testing potential drug candidates before they ever reach clinical trials. Anthropic believes software that accelerates those early stages could become valuable to an industry that already invests heavily in research and development.

To earn credibility, the company says it wants direct experience in the work itself. Jonah Cool, Anthropic’s head of life sciences partnerships, said the neglected-disease initiative will complement the company’s commercial AI business, arguing that building better scientific tools requires understanding researchers’ day-to-day challenges. Anthropic also announced a support program that will provide up to 50 research projects with as much as $30,000 each in computing credits.

The move builds on a broader healthcare strategy. Anthropic launched its AI for Science initiative in 2025, followed by Claude for Life Sciences later that year and Claude for Healthcare in early 2026. In April 2026, the company acquired biotech startup Coefficient Bio in a stock deal reportedly valued at roughly $400 million, bringing additional drug-discovery expertise in-house. Anthropic has also partnered with major pharmaceutical companies including Novo Nordisk, AstraZeneca and Eli Lilly, which use Claude for literature reviews, clinical documentation and regulatory work.

Anthropic is entering a competitive field. Technology companies including Alphabet, Apple and Amazon have all pursued healthcare initiatives with varying degrees of success. In scientific research, Alphabet’s DeepMind transformed biology with AlphaFold, which predicts the three-dimensional structures of proteins, while AI-focused biotechnology companies such as Recursion and Exscientia have formed partnerships with major pharmaceutical firms. OpenAI has also expanded its efforts in scientific research.

Even so, significant challenges remain. Healthcare has historically proven difficult for technology companies, and developing reliable scientific tools requires far greater precision than consumer AI applications. Kauderer-Abrams did not specify what Anthropic would do if its internal research identifies a promising drug candidate. Advancing such discoveries through clinical trials is an expensive, highly regulated process that the company has not previously undertaken.

Researchers also caution that AI-generated findings should always be independently validated before being used in scientific studies or drug development. Others have questioned whether advanced AI tools available through premium subscriptions could widen the gap between well-funded research institutions and smaller organizations, although Anthropic says it plans to offer expanded access programs for nonprofits and universities.

For Anthropic, the opportunity is substantial. Expanding into healthcare diversifies revenue beyond consumer AI products and positions the company within an industry that spends hundreds of billions of dollars annually on research and development. Industry analysts said Tuesday’s announcements reflect Anthropic’s broader strategy of building long-term enterprise revenue through specialized AI products.

Whether that strategy succeeds will take years to determine. Drug discovery rewards patience more than speed, and the ultimate measure of Claude Science will not be how quickly it analyzes research papers, but whether it helps scientists develop medicines that ultimately improve patients’ lives.

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California voters will decide this November whether to impose a one-time 5% tax on the state’s billionaires after the proposal officially qualified for the statewide ballot, setting up one of the year’s highest-profile tax battles.

The measure faces strong opposition from Governor Gavin Newsom, who has argued that taxing extreme wealth at the state level could drive wealthy residents and businesses out of California.

The proposal qualified after supporters submitted more than 980,000 valid signatures, according to the California Secretary of State.

If approved, the initiative would impose a one-time 5% tax on net worth above $1 billion, applied retroactively to individuals who were California residents as of January 1, 2026.

Supporters estimate the tax would affect billionaires controlling more than $2 trillion in combined wealth—nearly 30% of all billionaire wealth in the United States.

Under the proposal, 90% of the revenue would fund healthcare programs, while the remaining 10% would support food assistance and education. Backers, including the healthcare workers union SEIU-UHW, say the money is needed to prevent hospital closures and strengthen California’s healthcare system.

The central economic question is whether wealthy residents would simply relocate.

Governor Newsom argues that high-net-worth individuals can easily move to lower-tax states such as Texas and Florida, taking investment, businesses, and tax revenue with them. Rather than adopting a state wealth tax, Newsom has proposed pursuing a national minimum tax on individuals worth more than $100 million.

California’s own Legislative Analyst’s Office has reached a mixed conclusion.

While analysts estimate the measure could generate tens of billions of dollars in new revenue over several years, they also warn the state could lose hundreds of millions of dollars annually in income tax collections if wealthy residents relocate.

Supporters dismiss those concerns, arguing California’s economy, workforce, and innovation ecosystem remain powerful incentives for entrepreneurs to stay.

Critics point to recent examples suggesting otherwise.

Several prominent billionaires—including Peter Thiel, former Uber CEO Travis Kalanick, and Google co-founders Larry Page and Sergey Brin—have reportedly relocated outside California in recent years.

The campaign has already become one of the state’s most expensive political battles.

An opposition committee backed by technology leaders including Sergey Brin and former Google CEO Eric Schmidt has reportedly raised more than $80 million, while also promoting separate ballot measures aimed at prohibiting retroactive taxation and increasing oversight of new tax revenue.

Resistance extends well beyond business leaders.

In addition to Newsom, several Democratic candidates seeking to succeed him—including Xavier Becerra and Katie Porter—oppose the proposal. Organizations such as Planned Parenthood and the California Medical Association have also criticized the measure, describing it as legally uncertain and difficult to implement.

Supporters—including Senator Bernie Sanders—counter that many billionaires pay lower effective tax rates than middle-class workers and argue extraordinary wealth should contribute more toward maintaining public services.

Legal challenges also appear likely.

Opponents argue applying the tax retroactively may violate constitutional protections, raising the possibility of lengthy court battles even if voters approve the measure.

For businesses and investors nationwide, California’s vote will serve as one of the country’s most significant tests of whether states can successfully tax extraordinary wealth without encouraging wealthy residents—and the companies they build—to relocate elsewhere.

Because California remains home to many of the world’s largest technology companies and hundreds of billionaires, the outcome will be closely watched by policymakers, investors, and business leaders across the country.

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Israel Shipyards Ltd, the defense giant known primarily for producing vessels for the Israel Navy, has recently entered the drone interception market by unveiling a subsidiary, AREONOUS.

AREONOUS, established a year ago, operates in what is arguably the defense sector’s hottest field, and already employs around 40 people, some of whom are veterans of other defense industries.

The company has already developed a command-and-control system and an interceptor drone. The system can reportedly operate effectively at both close and long ranges. It can, for example, be operated at a range of 50 km to protect airports and bases, or down to 200 meters as a soldier-portable system to protect operating forces.

The use of an interceptor drone allows the system to contend with FPV drones, which cannot be electronically jammed. Last week, the system was demonstrated to the IDF using a radar from the US company Echodyne, as well as a camera from Controp – a combination intended to enable rapid detection of tiny, maneuvering targets.

The soldier-portable system weighs 13 kg, is equipped with LiDAR (laser radar) sensors from the Israeli company Innoviz, and launches nets from the ground in which the drones become entangled and fall to the earth. Its operation is automatic.

A video demonstration of AERONOUS’ anti-drone measures. (video credit: Israel Shipyards Ltd.)

The price: in the range of tens of thousands of dollars. 

Meir Ben Shayah, CEO of the company, told Walla that “in the field of drone interception, there is no ‘silver bullet.’ There is no single technology that is the absolute solution, and integration is mandatory. Our system is open to integrating different sensors and effectors according to customer requirements and the threats they face. We can integrate laser and other interception solutions within just two weeks.”

The company has already lined up paying customers and is beginning to implement its solutions to protect the warships manufactured by Israel Shipyards.

Prime Minister Benjamin Netanyahu asserted last week that Israel will be the first country in the world to solve the global issue of explosive drones during a speech at the Federation of Local Authorities in Israel Conference.

Goldie Katz contributed to this report.

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The number of Iranian cyberattacks against Israel has shot up since the launch of the US-Israeli offensive against Iran this year, a senior Israeli security official was quoted as saying on Monday.

Yossi Karadi, Director General of Israel’s National Cyber Directorate, told German newspaper Die Welt that in June 2025, during Israeli military operations against Iran, Israel’s authorities registered around 1,600 hostile cyber incidents.

During the same month in 2026, the number had jumped to some 4,800 incidents, he told the paper.

“Some groups are very skilled,” Karadi said, according to the German text of the interview. “We can handle them, but we have to take them seriously. Unlike in the kinetic realm, there’s no ceasefire in cyberspace.”

Karadi said the attacks were directed against systems used by Israel’s critical infrastructure, central organizations, small to medium-sized companies, and the public, citing law practices and accounting firms as among the smaller ones hit.

“So far – and hopefully it stays that way – we’ve managed to fend off attacks on critical infrastructure,” he said.

Companies that were easier to penetrate often ended up having their computer systems wiped, he said, without mentioning any names.

Iran typically denies carrying out hacking campaigns against other countries while reporting attacks on itself.

Israel works to develop best cyber offense, defense

In February, the INCD and the Shin Bet issued an update and a warning to the Israeli public that, since mid-2025, there had been a campaign of hundreds of highly sophisticated cyber attacks against Israeli government officials, security officials, academics, and media figures.

At the time, Karadi told The Jerusalem Post that Israel is “trying to develop both the best cyber offense and defense,” which in large part means collaborating with international partners.

“The cooperation with the US is still excellent. We are still helping each other. I have sat with them, and the results were excellent… We work very well with everyone. We recently signed an agreement to send a permanent cyber liaison to Germany,” he said.

On:

Mass civilian protests planned across the Gaza Strip against Hamas leadership on Friday were subdued by threats and intimidation from the terror group, according to Hebrew media reports.

Calls were made on social media platforms this week for what organizers described as a “Day of Rage,” with various Palestinian spokespeople indicating that the protests were focused on the harsh living conditions in the Gaza Strip and the delay in advancing the second phase of the agreement.

The IDF had prepared for violent demonstrations and riots along the Gaza Strip’s Yellow Line, but the anticipated protests did not take place as predicted. 

Hamas issues severe threats to protestors

Unidentified sources in Gaza told Ynet that Hamas gunmen were deployed throughout the area to prevent the demonstrations from spreading to multiple locations.

According to these same sources, armed terrorists were positioned near gathering points, movement of civilians in areas of displacement camps was restricted, and in some cases, phones were reportedly confiscated from participants or individuals identified as linked to the protest calls.

One of the protest organizers reportedly told Kan News that participants were facing severe threats from Hamas. “They accused us of treason,” the source stated.

“They threaten anyone who opposes Hamas. All of us are in danger, but we still believe we deserve to live without a terrorist organization.”

Another reported protester in Gaza told Ynet, “The atmosphere on the ground was one of clear pressure, and any attempt to organize the public was met with an immediate response from security forces.” 

Conversely, Hamas supporters apparently claimed that these measures were intended “to protect public order and prevent chaos in times of war.”

Hamas arrests so-called ‘Israeli collaborators’

According to a Kan report, this past week, Hamas announced through affiliated media outlets that its operatives had arrested groups and individuals “collaborating with Israel” throughout the Strip, noting that some of these activists are expected to face execution.

A Gaza social activist indicated that this was not coincidental but rather intended to prevent the protests from occurring. “Hamas is attempting to intimidate opponents on social media. They publish photos of activists suspected of collaborating with Israel and then arrest, torture, and execute them to instill fear in others.”

In the past, Hamas employed similar methods of killing and abusing Palestinians. United States President Trump warned Hamas against such actions at the time, which prompted the group to cease its intimidation. However, now that the Gaza Strip is no longer a focus for the White House, Hamas’s security measures are operating without its previous restraint.

Amir Bohbot contributed to this report.

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Representative John Joyce of Pennsylvania, chairman of the House Energy and Commerce Oversight and Investigations Subcommittee, led a hearing Thursday in which Medicaid directors from four states defended their fraud-prevention efforts as Democrats accused the Trump administration of unfairly targeting Democratic-led states through funding penalties. The hearing marked the latest stage of a months-long congressional investigation into oversight of the nation’s Medicaid program.

Officials from New York, California, Minnesota, and Ohio testified before lawmakers. Minnesota’s acting Human Services Commissioner John Connolly acknowledged significant fraud involving the state’s autism-services program while outlining reforms that include expanded audits, stricter background checks and a new provider licensing system designed to reduce abuse.

Republican lawmakers argued that stronger oversight remains necessary. Chairman John Joyce and House Energy and Commerce Committee Chairman Brett Guthrie of Kentucky cited several recent enforcement actions, including a $90 million Medicaid fraud case in Minnesota, a $270 million prescription-drug fraud guilty plea in California, and $226 million in alleged adult day-care fraud uncovered in New York this year.

Democrats countered that while fraud investigations are appropriate, the administration has disproportionately targeted Democratic-led states by delaying or withholding federal Medicaid funding. They argued that enforcement actions risk becoming political tools against governors who oppose White House policies rather than neutral oversight efforts.

The financial stakes are substantial. The Centers for Medicare & Medicaid Services (CMS) deferred approximately $1.3 billion in federal Medicaid funding to California in May, describing it as the largest payment deferral in the agency’s history. Earlier this year, CMS also paused approximately $350 million in federal Medicaid payments to Minnesota while reviewing program compliance.

Unlike a permanent funding cut, a payment deferral temporarily suspends federal reimbursement until states can demonstrate that claims comply with Medicaid requirements. During that period, state governments must either finance the programs themselves or reduce expenditures while the review remains underway. Approximately $1.1 billion of California’s deferred funding involved home-care services for elderly individuals and people living with disabilities.

The dispute carries significant economic consequences beyond government budgets. Home-health agencies, nursing providers, hospitals and healthcare workers depend heavily on consistent Medicaid reimbursement. Delayed federal payments can affect payrolls, cash flow and patient services, forcing states to redirect money from other priorities to keep healthcare programs operating.

The Trump administration maintains that the effort represents a nationwide campaign against Medicaid fraud rather than a politically motivated initiative. CMS has instructed every state to rapidly revalidate higher-risk providers, launched reviews of state Medicaid Fraud Control Units and established a specialized task force focused on reducing improper payments throughout the system.

Committee leaders also emphasized that Medicaid fraud is not limited to any particular political party or region. Chairman Joyce noted during the hearing that fraud has occurred in both Republican-led and Democratic-led states for decades, costing taxpayers billions of dollars and underscoring the need for stronger accountability nationwide.

The hearing concluded a lengthy congressional review that included two previous oversight sessions, formal inquiries sent to 11 states, and examination of more than 90,000 pages of government records. As part of its response, Minnesota has accepted a corrective-action plan requiring 17 separate reforms, including a temporary pause on new providers operating in higher-risk service categories and revalidation of more than 5,500 existing providers.

For the tens of millions of Americans who depend on Medicaid for healthcare coverage, the debate extends well beyond Washington politics. The outcome will determine how federal oversight is conducted, whether reimbursement dollars continue flowing smoothly to healthcare providers and how much financial uncertainty states and medical organizations must navigate while fraud investigations continue.

JBizNews Desk
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I-Pulse Inc., the privately held technology venture co-founded by billionaire mining magnate Robert Friedland, said Thursday, June 25, that it will receive $250 million from the Department of Commerce’s CHIPS program to develop semiconductor components in the United States, the latest sign of Washington’s drive to bring advanced chip production back onto American soil.

The award, disclosed in a company statement, will fund work on silicon-carbide semiconductors tied to a geothermal drilling method that runs on surges of high-power electricity. I-Pulse, which operates laboratories in New Mexico and France, uses high-voltage switches to apply electrical pulses to hot granite and other rock, fracturing and softening it ahead of the drill bit. The goal is to reach the deep, hot formations that next-generation geothermal energy depends on.

For Friedland, long known for building mining companies, the deal marks a deeper push into the business of supply-chain security. The funding comes through the federal program that has reshaped how Washington supports domestic chip manufacturing and places the veteran resource investor squarely inside the Trump administration’s campaign to reduce American dependence on foreign-made semiconductor components.

The CHIPS program was created to expand domestic semiconductor manufacturing and reduce reliance on foreign-made chips, the tiny components that power nearly every modern electronic device. Under the same initiative, the federal government has committed billions of dollars in grants and financing to companies including Intel Corp. to help rebuild U.S. chip production. The I-Pulse award extends that effort to a smaller, specialized company developing advanced power semiconductors.

The award also deepens Friedland’s growing relationship with federal agencies. One of his companies, Ivanhoe Electric Inc., is working with the U.S. Export-Import Bank on a debt package for an Arizona copper project, and Friedland attended the unveiling of a critical-minerals stockpiling venture at the Oval Office in February. In an interview, he said his companies are in discussions with numerous government agencies about strengthening America’s industrial base and bringing more manufacturing back home.

The semiconductors I-Pulse plans to build are not limited to geothermal energy. The company says its silicon-carbide components could also be used in underground mining, industrial manufacturing, and defense systems—a broad range of applications that helps explain Washington’s interest in keeping the technology and production within the United States.

I-Pulse is not a newcomer. The privately held company surpassed a $1 billion valuation a decade ago, and Friedland said he expects it to become a publicly traded company within the next few years, potentially giving early investors an opportunity to cash out while adding another semiconductor-related stock to U.S. markets. Its investors already include mining giants Rio Tinto and Newmont Corp.

Friedland framed the government funding as a way to accelerate geothermal power development at a time when the technology industry is scrambling to secure reliable electricity. The rapid build-out of artificial intelligence data centers has placed enormous strain on electric grids, and Friedland argued that the greatest limitation on AI is access to dependable clean energy. He said geothermal power offers one of the most promising long-term solutions, and that the CHIPS funding will help speed development of the technology needed to unlock it.

That argument ties the award directly to one of the biggest investment themes in business today. Companies including Microsoft and Amazon are investing tens of billions of dollars in new AI data centers, while utilities race to expand power generation fast enough to meet soaring demand. Any breakthrough that lowers the cost of deep geothermal energy could have significant implications for technology companies, manufacturers, utilities, and consumers concerned about rising electricity prices.

For the broader economy, the I-Pulse award represents one piece of Washington’s larger strategy to rebuild America’s semiconductor supply chain. By investing public funds in domestic chip production and related technologies, policymakers hope to strengthen national security, improve supply-chain resilience, and ensure that the next generation of critical semiconductor innovations is designed, manufactured, and scaled in the United States.

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