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Fire reported at the Dhahran compound as the conflict reaches the administrative heart of Saudi Arabia’s oil industry.

October 13, 2026

Saudi Aramco’s headquarters complex in Dhahran was hit during a Houthi missile attack Tuesday, causing a fire and extending the threat to Saudi Arabia’s oil industry after days of attacks on airports. Bloomberg reported the incident, citing people familiar with the matter. 

Saudi Arabia’s Energy Ministry subsequently confirmed an attack on an Aramco administrative building that caused a limited fire. No injuries or deaths were reported, according to the Associated Press. 

A company source told Reuters that a ballistic missile struck an office tower in the headquarters compound, damaging its top three floors. The complex houses a major operations center overseeing Aramco’s network of oil rigs, pipelines, refineries and export terminals. 

The precise cause of the damage remained uncertain in Bloomberg’s report. Its sources said the fire had been extinguished, but the news agency could not establish whether the compound suffered a direct missile impact or was struck by debris from an interception. 

The reported damage does not establish an oil-production shutdown. The accounts identify an administrative building, leaving the operational effect on the wider company unresolved. For energy customers, the critical question is whether attacks disrupt production, processing or shipments.

Other Saudi energy facilities have already faced disruption. Bloomberg reported that a refinery in Jazan remained shut following an earlier attack, while a Red Sea export port had also been targeted. A cross-country pipeline used to move Aramco crude to international markets was temporarily shut last month after an attack launched from Iraq. 

Tuesday’s escalation followed Saudi-led strikes on Houthi positions in Yemen. The Houthis had threatened retaliation against Aramco’s headquarters and a refinery in Riyadh, Reuters reported. 

The commercial concern now extends beyond damage at one building: repeated attacks put employees, transport connections and energy facilities under pressure simultaneously. Any further interruption to refining or export capacity could affect fuel availability and delivery costs, even if the headquarters fire itself proves limited.

Image: AI-generated editorial illustration of an oil-company complex.

JBizNews Desk | Dhahran, Saudi Arabia
© 2026 JBizNews. All rights reserved.

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An 18-year-old resident of Umm el-Fahm was arrested on Tuesday for planning a terrorist attack against IDF soldiers in the Old City of Jerusalem after a month-long investigation by the Israel Police and the Shin Bet (Israel Security Agency).

The investigation revealed that the suspect had pledged allegiance to the Islamic State (ISIS) terrorist organization. He is suspected of serious offenses against national security, membership in a terrorist organization, and preparing to commit a terrorist act.

This is a developing story.

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The first Eilat rains of the year were recorded on Saturday, with authorities warning the city about possible flooding due to the storm.

Citizens from Eilat reported that the rains became stronger during the afternoon, with power outages in some of the residents’ homes. A high-voltage pole was reportedly seen in the city, with no injuries reported.

The authorities explained that, while the current rains were mainly light, with between 0.6 mm and 2.5 mm of rain recorded, there could be heavier storms throughout the day in southern Israel.

Due to this, a Yellow warning was issued for the Dead Sea area, with authorities warning people about possible flash flooding.

No additional announcements were made about the storms, and the warning applied to the entire Dead Sea region rather than a localized area in southern Israel.

The rain arrived in Eilat for the first time in the year. (Credit: Eitan Hershko, Society for the Protection of Nature in Israel)

Israel’s temperature for upcoming week

Temperatures are expected to rise slightly on Saturday, mainly in the mountains and inland. The sky will be partly cloudy, and in the evening hours there may be light local rain in the southern Negev and Arava, according to the Meteorological Service.

On Sunday, it is expected to be partly cloudy to cloudy, with no significant change in temperatures. From the afternoon, there may be local rain, mostly light, in the east of the country. On Monday, the weather will be partly cloudy to cloudy, and a slight drop in temperatures will begin.

The maximum temperatures expected in the main cities: Tel Aviv 28°, Jerusalem 26°, Haifa 27°, Ashdod 28°, Beer Sheva 29°, Tiberias 33° and Eilat 33°. The weather will be partly cloudy, and from the evening hours there may be light local rain in the southern Negev and Arava.

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A federal judge approved Paramount Skydance’s settlement with 12 states on Wednesday, clearing the final obstacle to its nearly $111 billion takeover of Warner Bros. Discovery. The companies now expect the deal to close Oct. 6. The states had sued to block the merger, and the settlement rests on a promise to release at least 30 films a year. Two penalties back that promise. The combined company must pay $30 million for every film it falls short each year, and it must sell its minority stake in Miramax, the once-eminent independent film distributor.

The settlement’s consent decree states, “During each Commitment Year, the Combined Entity shall cause to be released for Theatrical Release in the United States a minimum of thirty (30) Films for the first and second Commitment Years and thirty-two (32) Films for the third, fourth, and fifth Commitment Years.” A later subsection adds, “If, upon the expiration of the Theatrical Cure Period [defined as six months after the end of each year], the Combined Entity has failed to cure the shortfall, the Combined Entity shall divest its entire direct and indirect ownership interest in Miramax Studios.”

The decree attaches more conditions to that film count. In the first two years, at least 20 of the 30 films must be wide releases, meaning they open on at least 2,000 screens. That rises to 21 of 32 in years three through five. At least four films a year must be independent films, and at least half must be produced or co-produced by the combined company rather than merely acquired. Every film that counts toward the total must play exclusively in theaters for at least 45 days and stay off subscription streaming for 90.

The combined company must also spend at least $300 million more each year on U.S. production than Paramount and Warner Bros. spent in 2025, or $1.5 billion more over five years. If Congress passes an uncapped federal film tax credit of at least 20% during that period, at least 20% of the company’s film production must take place in the U.S. in the first two years, rising to 30% after that.

These terms could help preserve work for film industry professionals after the merger, and a $30 million penalty is a decent incentive to keep the cameras rolling. But questions remain over whether losing Miramax is a big enough threat to shape the combined company’s future.

The fine print softens the threat further. The commitment years don’t begin until 2027, the first full calendar year after closing. A shortfall triggers a six-month cure period. Only if the company fails to make up the missing films does the Miramax sale kick in, and the company then gets another 12 months to complete it. Under that timeline, a company that missed its 2027 quota wouldn’t have to finish selling Miramax until mid-2029. After the second year, the company can also petition the court to modify its obligations. The $30 million payments, by contrast, are due even if the shortfall is later cured.

The value of Miramax

Harvey and Bob Weinstein founded Miramax in 1979, and it became the Tiffany brand of independent film distribution. It bought buzzy titles at film festivals and turned them into awards darlings. Disney bought the company in 1993 and sold it to Filmyard Holdings in 2010 for $663 million. Filmyard owned it for six years before selling it to Qatar-based beIN Media Group in 2016.

In April 2020, Paramount (then ViacomCBS) closed its purchase of a 49% stake in Miramax in a deal valued at $375 million. It paid beIN roughly $150 million upfront and committed to invest $45 million a year in Miramax for five years to fund new film and TV projects. Paramount Pictures also gained an exclusive, long-term deal to distribute Miramax’s library of more than 700 titles.

Even in its 1990s heyday, though, Miramax was never a brand built on box office juggernauts. At its peak, it usually bought inexpensive pictures and expanded them to wide releases for profits and awards. Its most successful film is still 2002’s “Chicago,” which grossed $306.8 million worldwide. Its original films since the Paramount investment have been more modest. Only one Miramax movie of the 2020s has topped $200 million at the box office: this year’s “Scary Movie” reboot, which has grossed about $229 million worldwide.

Miramax’s greater value likely lies in its library, which includes prestige pictures and cult classics like “Sex, Lies, and Videotape,” “Reservoir Dogs,” “Pulp Fiction,” “Good Will Hunting,” and “Gangs of New York.” Paramount can license these movies to other streamers or keep them exclusive to Paramount+ and Pluto TV. The decree’s divestiture language covers Paramount’s ownership stake. It doesn’t mention the separate library distribution deal. Either way, the catalog holds few titles that would be meaningful bargaining chips in a negotiation, and few of its indie dramas have franchise potential, “Scary Movie” aside.

Even in the indie space, Miramax is not what it once was. Specialty labels like Universal’s Focus Features and Disney’s Searchlight Pictures, along with standalone distributors A24 and Neon, now dominate today’s film markets and festivals. Miramax is a relic of a former era. It mostly co-produces small projects with other studios and rarely distributes films on its own. The brand also carries a dark legacy and an unshakable association with its disgraced co-founder, Harvey Weinstein.

In short, the 49% stake in Miramax likely benefits Paramount by deepening its catalog and supplying a few modest releases each year. But it is a contentious brand and hardly a valuable enough asset to shape the studio’s distribution strategy. The $375 million deal is a rounding error next to the $81 billion equity value of the merger, and Miramax pales beside the other brands in the deal: CNN, CBS, HBO, DC Studios, Nickelodeon, New Line Cinema, both studios’ flagship film divisions, and more.

The next test is at the box office

The $30 million penalty for each missing film carries more weight. The money would be split 50/40/10. Half would go to health care and retirement trust funds for production unions, including the WGA, IATSE, DGA, and Teamsters. Forty percent would go to the Motion Picture & Television Fund, and 10% to a National Association of Attorneys General fund for antitrust enforcement.

Avoiding that fee might be enough to keep production going. But an incentive is not a guardrail, and voluntary output pledges have a spotty track record.

The settlement has drawn scrutiny in the filmmaking community. Many critics say California Attorney General Rob Bonta, who led the states’ coalition, wasn’t aggressive enough. Seen that way, the Miramax ultimatum is a microcosm of the larger deal: it makes fair demands of the combined company but carries too small a stick to hold it accountable.

That criticism came to a head last week. On Thursday, Sept. 24, core members of the Block the Merger coalition won an emergency motion to weigh in on the settlement. Those groups are Free Press, the Committee for the First Amendment, the Freedom of the Press Foundation, the Future Film Coalition, and the International Documentary Association. They filed an amicus brief urging the court to reject the deal before the 12:01 a.m. PT deadline on Friday, Sept. 25. The coalition had already rallied thousands of industry professionals behind an open letter opposing the merger. The League of United Latin American Citizens (LULAC) filed its own brief against the settlement.

It wasn’t enough. On Wednesday, Judge Araceli Martínez-Olguín ruled that the consent decree was a “fair, reasonable, and good faith approach to address the competitive harms” the states alleged. She found that critics’ hopes for stronger terms did not amount to legal violations that would let her reject it. Minutes later, Paramount named Mattel CEO Ynon Kreiz co-CEO alongside David Ellison. The Miramax ultimatum’s real test now begins in 2027, on the release calendar rather than in a courtroom.

This story was originally featured on Fortune.com

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Humans have always wanted to talk with animals.

Dog owners try to understand their pets. At the same time, parents make great efforts to communicate with their babies before they start to produce words.

King Solomon is said to have done it, and so did Adam and Eve.

Others who accomplished it were a variety of fictional figures – Dr. Dolittle (Hugh Lofting’s physician who learned animal language from his parrot); Tarzan (Edgar Rice Burroughs’s iconic lord of the jungle who communicated with various jungle beasts); and Mowgli (Rudyard Kipling’s The Jungle Book hero who grew up with wolves).

“Talking with other creatures would not only make it possible to empathize with animals, learn about other levels of consciousness, and enrich our understanding of life. It would also have immense practical value,” suggested Prof. Yosef Yovel, who has worked in the zoology department of Tel Aviv University (TAU) for the last 15 years.

“Farmers might benefit from a machine that allows them to ask a cow about its health, though it might turn them into vegetarians,” he continued. 

“Such a machine would also come in handy once we land on a planet inhabited by some simple alien life form, while if advanced aliens ever make it to Earth, they will probably already have such a machine.”

Even as artificial intelligence masters human language, a groundbreaking study he and his team conducted reveals a fundamental flaw in how AI decodes the animal kingdom: it hears the volume and pitch, but entirely misses the point. 

The researchers have now discovered why AI is getting animal and human toddler communication all wrong.

For years, scientists have turned to AI to unlock the secrets of bird calls, bat chatter, and whale songs, but the new research published in Current Biology under the title “The challenge of decoding animal communication using AI” suggests our high-tech translators might be looking at the problem completely backward.

The TAU experts explained that while AI is a powerful tool, it needs a paradigm shift – moving away from raw audio analysis toward understanding neural and perceptual meaning.

The study was conducted by Mor Taub, Inbal Arnon, Amiyaal Ilany, Mirjam Knörnschild, and Yoav Ram, and it was supervised by Yovel.

The team also included scientists from the Hebrew University of Jerusalem, the University of Edinburgh, the Natural History Museum-Leibniz Institute for Evolution and Biodiversity Science, and Humboldt University (both in Berlin).

Two sounds that look completely different on a spectrogram can carry the same message to a receiver, while the same acoustic sound can mean entirely different things depending on the context – proving that communication relies heavily on the receiver’s perception, not just the physical properties of the sound wave. 

A spectrogram is a visual representation of the spectrum of frequencies of a signal as it changes over time. When applied to audio, it is essentially a picture of sound often referred to as a sonograph, voiceprint, or spectral display.

A standard 2D spectrogram uses three dimensions of data mapped onto a flat image.

Misleading communication system

The researchers found that acoustically similar sounds do not necessarily carry similar meanings, while sounds that appear different may convey the same information to the receiver.

Therefore, classifying sounds by their acoustic similarity, as most studies do, may create a misleading picture of the communication system and the meaning of the messages it conveys, Yovel added.

They discovered that humans listening to a toddler’s sequences perceive increasing urgency, apparently from subtle acoustic modifications. None of the tested AI models captured the ordering of those vocalizations according to urgency.

“In recent years, there has been growing excitement about the possibility of using AI to decode animal communication, but our study shows that these promises should be treated with caution,” said Yovel, who earned his bachelor’s degree in physics and biology and his master’s degree in neurobiology from TAU, followed by a PhD in biology from Germany’s University of Tübingen.

“Identifying acoustic patterns is not necessarily the same as deciphering meaning: to understand what an animal is ‘saying,’ we need to know how the animal receiving the message perceives it and responds to it,” he added. 

“The path toward truly deciphering animal communication will require a combination of AI, behavioral observations, experiments, and research into the nervous system. Artificial intelligence is a powerful tool, but it is no substitute for the perspective of the animal itself.”

To investigate the problem, the team used a unique communication system – the vocalizations of human toddlers who have not yet fully developed speech.

Unlike animal vocalizations, in this case the researchers could try to know how the humans to whom the vocalizations are directed interpret them.

The recordings included vocalizations made in three contexts: distress, calling to a specific person (the mother or the father), and asking for food.

The researchers analyzed the recordings using a classical acoustic method and two state-of-the-art deep neural networks: one trained on animal vocalizations and another trained on adult human speech.

The models were asked to group the vocalizations according to their characteristics.

The results showed that the deep neural networks performed better than the classical acoustic method, but even they failed to classify the toddlers’ vocalizations by their meaning.

In some cases, they grouped together vocalizations carrying different messages; in others, they separated different vocalizations intended to convey the same message. 

The models also failed to identify how a sequence of vocalizations expressed increasing urgency, a distinction that the human ear perceives naturally.

According to the researchers, reliably deciphering animal communication will require combining AI tools with behavioral observations, playback experiments, and sometimes measurements of brain activity.

PROF. YOSEF YOVEL (credit: TAU)

Using context

Every species has its own unique perceptual world, and understanding what animals are “saying” therefore requires more than analyzing sound alone: it also requires examining how they hear the sound and respond to it.

“We cannot connect specific signals with meaning. The basic idea is that AI models will find the largest differences between the signals, but these are not necessarily the important differences for the brain,” Yovel explained. 

“‏We can take an example from the stickleback fish during the breeding season. Males have a red abdomen and are very aggressive. The red color is, for them, the most important signal for detecting another male. They don’t care about the shape of the fish or how it moves. 

“Researchers showed long ago that if they take a sphere and color code it in red, the fish will perceive it as another fish. AI models would never detect this unless we specifically ask them to pay attention to color.

“This is exactly the point with baby and other animal vocalizations. AI will look for the most significant acoustic difference, but these are not necessarily equivalent to the important differences for the brain.

“The human brain is using context. AI language models can learn to do this too with human language, but it’s far more difficult with non-human language.”

When asked why they chose pre-linguistic toddlers rather than an animal species whose communication they already studied, Yovel explained that “the reason was that we wanted to know something about the meaning, so we studied.”

“I thought I knew something about the meaning of their vocalizations. With bats, I needed to guess what they received, but my brain understood human toddler vocalizations,” he continued.

“I can’t be sure, but when my toddler calls for me, I am more certain what he wants. The sample size was small, but we only intended to use this as a case to highlight and exemplify the problem. We also used a data set of real human words and showed that the result was completely different.”

Asked if a toddler could produce acoustically similar sounds for completely different purposes depending on the context, he agreed: “This is exactly one of the big challenges in decoding animal communication because animals will do this as well.”

There has been enormous excitement about AI potentially decoding whales, bats, birds, and other animals. 

“Nearly all of these studies are finding patterns in animal communication. That’s the first step, but we are very far from understanding meaning or even knowing how to do that exactly.”

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Ambassador to the US Yechiel Leiter, whose son Neria was seriously wounded during a car-ramming terror attack on Wednesday, said that his son’s life was still in danger during a Thursday press conference outside the hospital where he was being treated.

“His life is still in danger,” Leiter said. “This experience is different from the night when I received the knock on the door, when my eldest son fell in combat. He died instantly, and there was no possibility of bringing him to a hospital and allowing Israel’s doctors to save his life. There was also no possibility for us to gather around his bedside, recite Psalms, and rally the people of Israel to pray for his recovery.”

He said that he had feared that he would land in Israel without any hope, but was heartened to hear that Neria’s condition had stabilized, adding a request that the public continue praying for his recovery.

His daughter, Leiter added, had given birth the day before after visiting her brother, and was in the same hospital as Neria, only 40 meters away.

“On a personal and more public note, I received the news in New York yesterday, immediately after an interview in which I was asked about the violence in Judea and Samaria,” he also added.

Shaare Zedek Medical Center said that Neria’s condition was stable after several examinations and surgeries, but that his condition was still defined as serious, and his life remains in danger.

Neria seriously wounded in car-ramming three years after his brother killed in Gaza

Neria, an IDF reservist, was seriously wounded in a car-ramming terrorist attack at Maccabim (Bell) checkpoint on Route 443 near Modi’in-Maccabim-Re’ut.

In 2023, one of Leiter’s other sons, Maj. (res.) Moshe Yedidya, was killed in Gaza. He was a company commander in the 551st Brigade’s 697th Battalion.

Miriam Sela-Eitam contributed to this report.

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Two leading progressive lawmakers, Sen. Bernie Sanders and Rep. Greg Casar, are unveiling legislation Wednesday that would ban artificial superintelligence and create a federal agency to oversee advanced AI as some of the industry’s own leaders urge Congress to impose guardrails on the advancing technology.

The bill, provided first to The Associated Press, would also pause advanced AI development until guidelines are implemented while creating the Department of Artificial Intelligence. Multiple employees at leading AI companies are endorsing the bill.

“It doesn’t take a genius to say, ‘slow it down,’” Sanders, I-Vt., said in an interview with AP. “Do we really want to develop a super intelligence that when it becomes smarter than human beings could act independently of human control? I don’t think we do.”

Congress has so far done little to rein in the AI industry even as some of its most prominent leaders warn about potentially catastrophic risks. President Donald Trump has resisted recent calls for greater government oversight, putting him at odds with tech leaders including Anthropic’s Dario Amodei, OpenAI’s Sam Altman and xAI’s Elon Musk.

The bill aims to dramatically slow down AI development

The legislation would permanently prohibit artificial superintelligence, which it defines as a system that exceeds human cognitive ability or has sufficient capabilities to plan and execute the destruction or disempowerment of humanity.

It would temporarily pause development of the most advanced AI systems until new federal safety rules are established by a new Department of Artificial Intelligence. Advanced AI systems would then need federal approval before they could be deployed. Violations could carry significant penalties, including up to 20 years in prison in some cases.

A number of current employees at AI companies and experts signed on in support of the bill, according to a statement shared with AP.

Juan Felipe Cerón Uribe, a researcher in OpenAI’s Safety Systems, said in a statement supporting the bill that “superintelligence could either go extremely right or extremely wrong” and that “we shouldn’t be playing such games.”

Swante Scholz, a software engineer at Google DeepMind who said he was not speaking on behalf of his employer, said on the current path of development, the “most likely outcome is an existential catastrophe for humanity.”

“A ban on superintelligence development would be a positive change for the foreseeable future,” Scholz said in a statement.

The bill faces long odds but draws a line in a growing fight

The bill from Sanders and Casar faces long odds in the Republican-controlled Congress, where lawmakers have struggled to coalesce around even less sweeping AI regulations.

But it offers a window into how the progressive wing of the Democratic Party is approaching AI regulation ahead of November’s midterms and a 2028 presidential campaign in which the technology is expected to be an increasingly prominent issue. Casar, a Democrat from Texas, is the chair of the Congressional Progressive Caucus.

Potential 2028 presidential candidates have rushed in recent weeks to release proposals showing they’re taking the issue seriously. Maryland Democratic Gov. Wes Moore announced a plan to regulate AI on Tuesday, while California Democratic Gov. Gavin Newsom signed an executive order to accelerate implementation of a California law that calls for independent oversight of AI companies last week.

Sanders, a two-time presidential candidate who is now 85, has especially focused on the issue in recent months. In June, he introduced legislation to create a sovereign wealth fund financed through a one-time tax on the stock of the largest AI companies. Last week, he hosted colleagues for a briefing with experts and also attended a conference focused on the issue alongside Republicans, including former White House adviser Steve Bannon.

The debate over AI regulations has scrambled political alliances both in Washington and for voters across the country.

Americans have grown more concerned about the environmental impacts of artificial intelligence over the last year, according to a recent poll from The Associated Press-NORC Center for Public Affairs Research and the Energy Policy Institute at the University of Chicago.

The survey data say about half, 53%, of Americans are “extremely” or “very” concerned about artificial intelligence’s environmental impacts. That is up from 41% last year. Democrats are driving much of the increase in environmental concern, but the poll also reveals broader worries about the local impact of data centers, which power AI and cloud computing.

Trump has shown little interest in curbing AI risks

While some industry leaders have called for new safeguards, Trump has pushed in the opposite direction. On Tuesday, Trump told the United Nations General Assembly that artificial intelligence will be renamed “super intelligence.”

“I think Trump has very little understanding of what this issue is about,” Sanders said. “I think he’s mainly concerned about the economic implications of a slowdown.”

AI safety is expected to be a central part of talks between Trump and China’s Xi Jinping at the White House this week as the countries compete for dominance in the sector. The prospect of slowing development in the United States while China continues on has also been one of the central arguments against sweeping restrictions.

Sanders argued that avoiding the most dangerous forms of AI would ultimately require cooperation between the two countries, comparing the challenge to nuclear arms control during the Cold War.

“Ronald Reagan, arch-conservative, was smart enough to understand that he had to sit down with Gorbachev, a communist, and work out a nuclear treaty that protected humanity,” Sanders said. “I think we can do that again now.”

This story was originally featured on Fortune.com

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Prime Minister Benjamin Netanyahu is expected to make one of his shortest visits to the United States, arriving in New York Thursday morning, addressing the United Nations General Assembly at 2 p.m. local time (9 p.m. Israel time), and departing for Israel shortly afterward.

Under the latest plan, the prime minister may not spend a single night in the United States.

The schedule has undergone several changes in recent days. At an earlier stage, Netanyahu was expected to arrive in the US as early as Wednesday, and a stop in Texas was later added, where a meeting with Elon Musk had been planned.

An advance team on Netanyahu’s behalf had already arrived in the state and begun preparations for the visit and meeting, with a possible visit to SpaceX facilities also under consideration. Over the weekend, the team was informed that the visit had been canceled. According to Israeli officials, Netanyahu canceled the Texas stop.

The cancellation significantly shortened the trip, which will now be devoted mostly to Netanyahu’s address to the General Assembly. He is expected to arrive in New York on the day of the speech itself and leave the city later that same day.

The Texas stop also presented logistical complications. Officials described it as a “complex event,” in part because “Wing of Zion” cannot fly from Israel to Texas without a refueling stop. Some members of the delegation might also have been required to travel separately on commercial flights. However, there was no indication that the logistical difficulty was the reason Netanyahu decided to cancel the visit.

A meeting with US President Donald Trump, which Netanyahu’s aides had sought to arrange, is also not planned under the current schedule. A senior US official said Netanyahu was not among the leaders Trump was expected to meet on the sidelines of the General Assembly. According to another US official, Netanyahu is expected to arrive in New York only after Trump has already left the city.

Trump, Netanyahu schedules do not overlap under current plans

Efforts to arrange a meeting between the two continued even as the planned visit broadened. According to the schedules currently known, their stays in New York will not overlap.

Trump is expected to be in New York at the beginning of the week and address the General Assembly on Tuesday. During his stay, he is scheduled to hold a series of meetings with foreign leaders, after which the focus will shift to Washington, where a summit with Chinese President Xi Jinping is expected on Thursday.

Iran, trade between the two powers, Taiwan, and artificial intelligence are expected to be among the issues on the agenda. When Netanyahu takes the UN podium in New York on Thursday, Trump is expected to be in Washington.

Barring a last-minute change, the most senior US official Netanyahu is expected to meet will be Secretary of State Marco Rubio. A meeting between the two is planned, although the Prime Minister’s Office stressed that the final schedule for the visit has not yet been finalized. Rubio is already in New York and is holding diplomatic meetings as part of UN General Assembly week.

Alongside contacts with the US administration, Israeli officials also sought to explore the possibility of meetings with leaders from Gulf states. At this stage, no such meetings are known to have been finalized, and the shortened stay in New York further narrows the window for bilateral meetings.

Trump himself is expected to meet leaders from Gulf states during General Assembly week, with Iran and the regional situation expected to be central topics in the talks.

Netanyahu’s speech will take place during an especially busy diplomatic week, with Iran and the wars in the Middle East at the center of the agenda. Nearly 130 heads of state and government are expected to attend the General Assembly.

Trump is expected to address Iran in his speech and in his discussions with Gulf leaders. Iran, the regional situation and the war in Gaza are also expected to feature in the Israeli delegation’s diplomatic contacts during the visit.

Netanyahu is also expected to face a hostile reception inside the General Assembly hall. Israel’s Ambassador to the UN, Danny Danon, estimated that protests would take place during the speech, after many representatives walked out of the hall as Netanyahu began speaking last year. Demonstrations against the prime minister are expected outside the UN compound, alongside pro-Israel events.

New York is already carrying out broad security preparations ahead of General Assembly week. Thousands of police officers are being deployed across the city alongside the Secret Service and other security agencies as part of the operation to protect dozens of leaders and delegations.

No specific threat known against General Assembly, US security officials say

Local security officials said that, as of now, there is no known specific threat against the General Assembly, but security around the UN compound and major traffic routes has been significantly reinforced.

The visit also comes against the backdrop of sharp statements by New York City Mayor Zohran Mamdani against Netanyahu. Mamdani has previously raised the possibility of acting on the basis of the arrest warrant issued against the prime minister by the International Criminal Court, but later clarified that any action would be subject to US law. The United States is not a member of the International Criminal Court.

Danon has previously said that Mamdani’s remarks make Netanyahu’s arrival in New York all the more important.

The plan that initially guided preparations for the visit looked different only a few days ago. The Texas stop and meeting with Musk have been removed, and a meeting with Trump does not appear on the schedule.

Unless there is another change, Netanyahu is expected to conclude one of his shortest visits to the United States on the same day he arrives, possibly without spending even a single night in the country.

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Sometimes US President Donald Trump tells the truth. It may not be often, but sometimes. Like when he spoke last week to a convention of his faithful flock in Dallas and asked them to pledge allegiance to him and to “cheat like hell” in the upcoming midterm elections.

Obedient followers of his MAGA cult dutifully raised their right hands, as instructed, many repeating his words aloud:

“I pledge to the greatest president in the history of the United States that loves us so much he can’t even breathe that I will go out with my family, my friends, I will do it anyway – I don’t care if I’m registered or not, I’m going to try and cheat like hell, as they do.”

This dispensation to cheat and not bother registering to vote comes from a president who claims to be obsessed with assuring all elections are free and fair.

The man who has posted endless memes online portraying himself as the Pope, Jesus, and assorted comic book superheroes warned his audience, “You know what happens if you don’t vote? You go to hell.”

‘Trump dividend’ to all adult Americans

To help them avoid Hades, he offered $5,000 checks – he’s calling it a “Trump dividend” – to all adult Americans if Republicans keep control of Congress in November.

Is that legal? Probably not. It sounds like a pay-to-play bribe, and federal law prohibits offering payment for votes.

Can he really do it? Will he try? Unlikely. Why? Have you gotten your $5,000 DOGE rebate he promised? And what about the $2,000 tariff bonus he said he’d send you? Or the $500 refund for lost healthcare subsidies?

Remember those and other promises to bring down the price of gas, electricity, beef, childcare, mortgages, airline tickets, and inflation? Still waiting on that, too?

A USA Today investigation found Trump and his businesses had a well-documented, decades-long reputation for stiffing contractors and refusing to pay their bills.

It’s like his Iran war. Promise now, plan later.

Republican lawmakers are already distancing themselves from his latest largesse, noting it will cost a whopping $1.2 trillion just as the federal deficit topped $40 trillion.

The only big bonus checks Trump is handing out are for $45,000 to each of his three closest aides, all women. 

They are Natalie Harp, 35, known as “the human printer” because she follows him around with a portable printer to provide copies of flattering coverage; Margo Martin, 27, who follows with a camera making videos of his movements; and Chamberlain Harris, 27, an executive assistant he named to the Commission of Fine Arts that rubber stamps his vanity projects.

Trump, who calls himself “the greatest president in the history of the United States,” told his loyalists to make the upcoming election a referendum on him. That delights Democrats, who are trying to do just that. Republicans not so much.

Whatever the outcome on November 3, you can bet Trump will personally take credit for all Republican victories and declare all losses were rigged or the losers were flawed candidates who weren’t sufficiently loyal to him.

His propensity for prevarication is well established. By the end of his first term, the Washington Post Fact Checker team documented 30,573 false or misleading claims. His output has ballooned since he began using his own social media platform, Truth Social, to relentlessly share his thoughts with the world.

Trump’s call to “cheat like hell” makes his pious preaching about election fraud, illegal voting, and rigged elections sound more like a confession than an accusation.

This corrupt and lawless president is actively trying to rig the upcoming election by fear, intimidation, money, and the whole federal alphabet soup of agencies from ICE to USPS. All to fight a virtually non-existent crime: voting by illegal aliens. That sounds more like voter suppression than protection.

His Trumpalooza message sounded familiar: “If you can’t beat ‘em, cheat ‘em.” Trump tried it in 2020 and failed, but he’s ready for an encore – and this time he has more power to wield.

His obsession with undermining public confidence in the electoral system through his lies, gerrymandering, threats, intimidation, and unproven charges of election fraud has GOP operatives worried that he may discourage many Republicans from voting.

Columnist Michelle Cottle points out in The New York Times that Trump’s “election fraud lunacy” in Georgia in 2020 “depressed Republican turnout” and helped Democrats win presidential and Senate races in that state and hand control of the Senate to the Democrats.

Another move that backfired was last week when the dangerously weaponized Federal Communications Commission under Brendan Carr pressured ABC’s Jimmy Kimmel Live to cancel an on-air interview coinciding with Trumpalooza with James Talarico, the Democratic candidate for Senate in Texas against Republican Ken Paxton.

Carr only hyped attention to the interview, which Kimmel then posted on his YouTube channel, where it has drawn some 10 million views, compared to only 2.5 million who tuned in to Fox News to watch Trump’s “cheat like hell” speech.

Trump went to Texas to bathe in the adulation of his most loyal devotees. Polls show they still overwhelmingly support him, although the numbers are dropping slightly, while across the rest of the country his approval rating has fallen to the low 30s.

MAGA is widely considered a cult of personality, noting its unique reliance on a personal brand of devotion and Trump’s demands for loyalty to one man and his dominance over the Republican Party apparatus.

Political scientist Sarah Gail Hunter defined such a cult as the result of an effort to create an idealized and heroic image of an admirable leader, often through unquestioning flattery and praise. Trump did just that in his Dallas oration.

Princeton Prof. Jan-Werner Müller writes that Trump’s personality cult follows the historical definition, “but his pathological narcissism ensures he cannot deploy it effectively.”

George Conway, a conservative critic, has called Trump a “narcissistic sociopath” with authoritarian tendencies that threaten democracy.

America’s great hope is that if Trump is as good at fixing the Lincoln Memorial Reflecting Pool, the Republic can survive his corrupt, failed presidency.

The writer is a Washington-based journalist, consultant, lobbyist, and former legislative director at the American Israel Public Affairs Committee.

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The IDF killed a Hamas commander on Thursday who infiltrated Israel during the October 7 attacks, the military confirmed on Saturday.

The terrorist, Muhammad Suleiman Byouk, was killed in an IDF strike on the Khan Yunis area in the Gaza Strip.

According to the IDF, Byouk spent much of the war planting explosive devices across Gaza targeting Israeli soldiers.

He further planned and advanced terror attacks aimed at Israeli soldiers and civilians and also worked to rehabilitate the Hamas terror organization, the IDF added, noting the action as a “systematic violation of the ceasefire.”

IDF kills senior Hamas Rafah Brigade commander

Byouk’s death follows a joint operation by the IDF and Shin Bet (Israel Security Agency) on Tuesday, which killed Hamas’s Rafah Brigade commander, Nael Abu Obeid, in a southern Gaza strike, the military said at the time.

According to the IDF, Abu Obeid was a key Hamas leader who previously served as deputy commander of the Rafah Brigade and commander of the Tel al-Sultan and Yibna Battalions.

He replaced the previous Rafah Brigade commander, Mohammad Shabanah, who was killed by the IDF in May 2025.

Abu Obeid directed terror attacks and offensives against Israeli soldiers during his time as Rafah Brigade commander.

Also on Tuesday, the IDF said it killed Hamas’s Jabaliya Battalion commander, Ahmad Batash, in a northern Gaza strike on Monday in a joint operation with the Shin Bet.

Batash was responsible for managing logistics for the Izzadin al-Qassam Brigades Northern Gaza Brigade and was an integral part of supplying weapons and equipment to Hamas terrorists in the region.

Amir Bohbot contributed to this report.

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Bargain plane tickets are already pretty hard to get, and now, they’re only going to get more scarce as airlines scramble to deal with increased fuel costs nearing record highs. 

Executives at American Airlines, United Airlines and Southwest Airlines this week said they’re rethinking their least-profitable routes as jet fuel climbs to $4.71 per gallon, more than double the cost a year ago and near a 20-year high.Now, they’re considering cutting some low-performing routes in an effort to cut down on costs.

“You’re just going to want to pull a little capacity out when we see a rise in fuel like we’re seeing right now,” American Airlines CFO Devon May said at Morgan Stanley’s annual Laguna Conference on Sept. 16, adding the fuel spike has added $1 billion to the company’s projected fourth-quarter expenses, prompting it to cut some December flights and plan for less growth next year. 

May was far from the only airline executive to sound similar alarms at the conference. He was joined by Southwest CFO Tom Doxey, who said the company began projecting the year it would add 2-3% to flight capacity, but has since cut that projection in half, “because fuel has been higher.”

United CFO Mike Leskinen was also in attendance. He told analysts every airline has its “bell curve of profitability” and some routes make more money than others. As fuel costs rise, maintaining the flights near the bottom of that curve stops making financial sense, which is why United will have fewer flights in December and could make further cuts next year if costs stay high.

“There’s some marginal routes that don’t make sense in a higher fuel environment, so we cut them,” he said. “We’re flying to maximize profitability and free cash generation, so we’ll make those adjustments.”

Leskinen noted 35% of United’s fourth-quarter tickets were already booked—so the airline can’t retroactively hike those prices—but he said there’s room to pass on higher fuel costs to consumers eventually.

“Jet fuel price gets passed through with a lag,” he said. All three carriers (in addition to almost every player in the airline industry) have raised checked bag fees as a way to offset costs. 

United and American declined to share the number of flights they cut. A Southwest spokesperson told Fortune its flight schedule adjustments were “very minimal” and do not affect “large scale exits of routes or airports.”

The effects of the jet fuel crisis

It’s bad news for travelers making plans to visit back home. Less routes would mean fewer flight choices to pick from, and could mean fewer convenient times to fly out or having to opt for a layover instead of a nonstop trip. 

War in Iran has choked off the global supply of oil, which hit jet fuel particularly hard, sending the price soaring  and leaving the airline industry to eat most of the costs. United and American spent about $8.2 billion and $7.8 billion respectively on fuel in the first six months of this year, both up almost 49% from a year earlier, according to their latest filings. Southwest spent nearly $3.6 billion, up about 39%. 

Now that airlines are cutting flights, this could also make bargain prices harder to come by for American travelers who are already paying more to fly. Fares are 23.4% higher in August than a year earlier, compared to a 3.4% increase in overall consumer prices, according to the Bureau of Labor Statistics. 

Jet fuel costs have also squeezed airlines across the Atlantic Ocean. The Iran fuel shock slammed Europe, which is more dependent on Middle Eastern oil than the U.S., and took a toll on one of its largest budget airlines, Ryanair. The carrier cut its full-year passenger forecast this month from 216 million to 214 million. CEO Michael O’Leary warned oil prices could hike up Ryanair’s famously cheap European flights.

This story was originally featured on Fortune.com

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Stock futures and government bonds moved higher Thursday as falling oil prices and easing Treasury yields helped investors shake off the previous day’s selloff triggered by the Federal Reserve’s first interest rate hike since 2023.

The Fed raised its benchmark rate by a quarter percentage point Wednesday, lifting the target range to 3.75%-4%. The move, approved unanimously by the central bank’s policymakers, was meant to cool inflation that has stayed stubbornly high, driven in part by the recent surge in oil prices. Fed Chairman Kevin Warsh told reporters the bank is “hard pressed to describe” the current inflation trend as improving, and most officials penciled in at least one more rate increase before the end of the year.

Wall Street didn’t like what it heard. The Dow Jones Industrial Average dropped 631 points Wednesday and the S&P 500 closed below 7,600 as investors digested the hike and Warsh’s inflation warning. Higher rates mean pricier borrowing across the board — mortgages, credit cards, auto loans, and business financing all get more expensive when the Fed moves like this, squeezing household budgets that are already stretched by elevated gas prices.

By Thursday morning, though, the mood had shifted. Dow futures climbed roughly 300 points as two forces worked in investors’ favor at once: Treasury yields fell back from Wednesday’s highs, and oil prices kept dropping for a second straight session. Brent crude, the international benchmark, slid to around $106 a barrel after tumbling 2.7% Wednesday. U.S. crude fell 3.2% to $102.43 a barrel.

The oil retreat traces back to Saudi Arabia, where a damaged pipeline has been driving prices higher for more than a week. The kingdom’s East-West pipeline, which normally moves about 7 million barrels of oil a day across the country to its Red Sea coast, was knocked offline after a drone attack. Saudi officials now say they expect to restore roughly half the pipeline’s capacity within days, with full repairs finished in about six weeks. That timeline gave traders enough confidence to sell off some of the risk premium built into oil prices over the past two weeks.

When oil drops, it tends to ease two pressures at once: it takes some heat off inflation, which makes bond investors happier, and it lowers the odds that companies will need to raise prices further, which helps stocks. That’s largely why Treasuries and equities moved in the same direction Thursday even though they don’t always track together.

Not every analyst thinks the rally has legs. Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a note that his team remains positioned for further gains but is “preparing for near-term volatility.” He added that if the Fed’s tightening stays measured and corporate profits keep growing, “the rally should have scope to broaden across sectors and regions.” His advice to investors: spread out stock holdings rather than betting heavily on rate-sensitive sectors or a single trend.

For everyday Americans, the tug-of-war between the Fed and the oil market matters directly. A rate hike raises the cost of financing a car or carrying a credit card balance. A pipeline outage half a world away raises the price of filling up the tank. When both ease at the same time, as they did Thursday, it offers some relief — but Wednesday’s rate increase doesn’t reverse itself just because Thursday was calmer. Borrowing costs tied to the Fed’s benchmark rate stay higher until the central bank decides otherwise, and officials have signaled they’re not done raising rates this year.

Bond markets reflected that mixed picture. Yields on 10-year Treasuries, which had briefly topped 5% this week for the first time since 2007, eased back Thursday as the improving oil picture took some urgency out of inflation bets. Lower yields generally translate into slightly cheaper long-term borrowing costs, including mortgage rates, over time — a small counterweight to Wednesday’s Fed move.

The next test for markets comes as investors watch whether Saudi Arabia’s pipeline repairs stay on schedule and whether the Fed follows through on its signal for another rate hike before year’s end. Both outcomes will shape how much relief Thursday’s rally actually delivers to consumers already squeezed by two years of elevated energy and borrowing costs.

JBizNews Desk | Wall Street

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

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America is already getting hit with higher interest rates before the Federal Reserve even makes its decision.

The 10-year U.S. Treasury yield surged to roughly 5.04% Tuesday, its highest level since 2007, pushing up the benchmark that influences mortgages, corporate borrowing, commercial real estate financing and trillions of dollars of debt across the economy.

Now Wall Street is betting the Fed is about to add another layer.

The Federal Reserve began its two-day policy meeting Tuesday and will announce its decision Wednesday at 2 p.m. ET. Traders are pricing roughly a 92% probability of a quarter-point rate increase.

If it happens, it would be the Fed’s first rate hike since July 2023, lifting its target range from 3.50%-3.75% to 3.75%-4.00%.

That distinction matters.

The Fed has not raised rates yet. The market is raising borrowing costs on its own because investors increasingly believe inflation is becoming difficult enough that the Fed will have to respond.

Oil is a major reason.

Brent crude has climbed toward $108 a barrel while U.S. oil has pushed above $100, threatening to raise costs for transportation, manufacturing, airlines, deliveries and eventually consumer goods.

Higher energy costs can restart inflation even when other prices are cooling.

Bond investors are responding by demanding more interest to lend money for 10 years. When Treasury yields rise, borrowing rates throughout the economy generally move higher with them.

For businesses, the math gets painful quickly.

A company refinancing $5 million of debt at a rate one percentage point higher pays about $50,000 more per year in interest before considering principal repayments or other loan costs.

Multiply that across larger businesses, commercial properties and corporate America, and the economic drag becomes substantial.

Homebuyers face the same problem. Thirty-year mortgage rates do not move directly with the Federal Reserve’s overnight rate; they are heavily influenced by longer-term bond yields, particularly the 10-year Treasury.

That means mortgage costs can rise even before the Fed acts.

Stocks also face a tougher calculation.

When investors can earn roughly 5% from U.S. government debt, they have less incentive to take the additional risk of owning stocks. Higher yields also reduce the present value investors place on companies’ future profits, hitting highly valued growth and technology stocks particularly hard.

The biggest question Wednesday may therefore not be whether the Fed raises rates.

Markets have largely priced that in.

The real question is what comes next.

If Fed officials signal that Wednesday’s expected increase is enough for now, Treasury yields could ease.

If they suggest more hikes may be necessary to contain inflation, the move above 5% could prove to be the beginning rather than the peak.

Either way, households and businesses do not have to wait until Wednesday afternoon to feel tighter monetary conditions.

The bond market has already raised the price of money.

JBizNews Desk | New York

© JBizNews.com. All rights reserved. This article is original reporting by JBizNews Desk. Unauthorized reproduction or redistribution is strictly prohibited.

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In June, SpaceX’s record-breaking IPO made Elon Musk the world’s first trillionaire. At the same time, a very different economic reality was unfolding for millions of American households.

We are currently living in a tale of two economies.

In the first economy, the top 20% of U.S. households now drive roughly 60% of all consumer spending, buoyed by the wealth effect of rising asset values. In the second economy, the American middle class is experiencing a severe, structural margin collapse.

In July, the household margin crossed back below zero. Wages grew 3.2% over the year, while consumer prices rose 3.4%, leaving households with a negative 0.20-point wage-price spread. Against the pre-war baseline of 1.34 percentage points, that is a 115% margin collapse. Families are no longer operating with a thinner cushion; they are operating with a deficit.

Consumers are increasingly bridging this negative margin with leverage. One of the clearest indicators of this shift is at the grocery store, where Buy Now, Pay Later (BNPL) usage has doubled over the past two years. Consumers are paying for daily necessities in four installments. When households have to finance their groceries, it’s no longer a consumer trend. It’s a structural deficit.

U.S. corporations and policymakers are responding to this divergence in ways that risk reinforcing it: protecting margins at the top while leaving the purchasing power of the middle class increasingly constrained. To see what structural resilience can look like in 2026, American executives should look beyond the conventional playbook. They should look at a Swedish furniture retailer.

The False Playbook: Extracting from a zero-margin base

Faced with a squeezed consumer base, a growing number of U.S. companies are responding by moving away from the middle class and tailoring their offerings to the affluent, passing inflationary pressures on to the end user.

They are doing this while simultaneously utilizing artificial intelligence to protect their own margins. Employers are freezing or cutting hiring, with the steepest declines concentrated in middle- and entry-level roles, effectively constraining household earnings exactly when energy and living costs are surging.

Washington has tried to address this structural crisis with tax relief, but the relief is uneven. The highly anticipated “One Big Beautiful Bill Act” (OBBBA) promised broad-based tax relieffor the middle class. In reality, households in the 95th to 99th income percentiles will receive roughly 1.9 times the tax relief of middle-income households.

Extracting the last dollar from a negative-margin consumer, or relying on tax relief that disproportionately benefits higher-income households, isn’t a long-term economic strategy. By engineering out the middle class, U.S. companies and policymakers are weakening their own demand redundancy. If the stock market corrects and the top 20% pulls back on discretionary spending, a diminished middle class leaves the economy with a weaker floor to fall back on.

The IKEA masterclass: Engineering affordability

If the U.S. playbook relies on extracting from the few, IKEA offers a masterclass in optimizing for the many.

When asked whether IKEA was pivoting to target the growing cohort of affluent Americans, Juvencio Maeztu, CEO of Ingka Group, pointed to a different measure of success: “I like to say that for us, the big KPI is not top line in revenue… The big KPI is in how many homes we are present.” He added: “We have a say normally that we sell umbrellas in IKEA, and we normally reduce the price of the umbrella when it’s actually raining.”

IKEA is not doing this for charity. They are ruthless, brilliant corporate strategists building an durable moat for the 2026 economy. They achieve this through four structural pillars:

● Deflationary Pricing: While many U.S. companies raised prices, IKEA executed deliberate price cuts to capture volume from tapped-out consumers. As Maeztu explained, they start with the price the masses can afford, and engineer their cost structure backward. In fiscal year 2025, Ingka Group absorbed a 0.9% revenue drop (€41.5 billion), but the strategy worked: store visits grew to 736 million, and operating income actually jumped 16.8% to €1.46 billion.

● Supply Chain Sovereignty: You cannot control prices if you are a passive victim of global logistics. When geopolitical conflict paralyzed shipping through the Strait of Hormuz in early 2026, IKEA was already executing a Re-Americanization strategy. IKEA supplier SBA Home invested $70 million in a highly automated plant in Mocksville, North Carolina, supported in part by Inter IKEA, localizing production of high-volume IKEA items and reducing exposure to maritime chokepoints and tariffs.

● Energy as a Fixed Asset: To insulate their operations from the volatility of fossil fuel markets, Ingka Investments committed €7.5 billion by 2030 to utility-scale renewable energy. They already own 49 wind farms and 26 solar parks. They are reducing their exposure to volatile energy costs and shielding their supply chain from global price shocks.

● Human Capital Reinvestment: As Fortune’s Claire Zillman reported, IKEA used its AI bot Billie to automate routine customer service while retraining 8,500 employees for more complex customer service and interior-design sales roles rather than laying them off. Billie now assists 74% of customers who use the tool. The result: Remote sales centers became IKEA’s fastest-growing channel, generating €1.25 billion ($1.37 billion) in revenue last fiscal year as customer satisfaction rose from 60% to 89%.

Rebuilding the economic moat

IKEA treats its business the way we need to treat the United States economy. Maeztu noted that IKEA’s founder instructed them to “think 200 years out.” Washington, by contrast, rarely operates on that time horizon.

You cannot fund 75-year national liabilities, like Social Security, or a projected $2.1 trillion annual federal deficit, on a barbell economy. A nation cannot pay its debts with a consumer base increasingly reliant on subprime credit. National solvency requires volume.

If we want to build a resilient economic moat, we must build our economic systems around the second economy. And to do that, we have to be honest about who comprises it. The individuals bearing the brunt of this -0.2% margin collapse are disproportionately women and people of color.

When Native American women earn 53 cents for every dollar paid to white, non-Hispanic men, and 510,000 Black women disappear from the labor force in five months, the economy’s floor is weakening (based on my proprietary analysis of Bureau of Labor Statistics data). These are not only demographic statistics; they represent a structural misallocation of human capital.

Achieving an equitable labor market isn’t a social initiative; it is an economic stabilization tool. Closing these gaps would add an estimated $3.1 trillion to the U.S. economy.

Let’s look at the math. Closing the pay gap alone expands the payroll tax base enough to cover one-third of the Social Security funding shortfall. Scaling that to close the broader equity gap generates enough economic growth to cover the annual interest on our national debt.

True economic success in 2026 isn’t about extracting the last dollar from a negative-margin middle class. It is about strategic affordability and structural investment. IKEA proves that optimizing for the many is one of the strongest hedges against instability. You don’t survive the future by pricing out the middle class. You survive it by designing systems that keep the umbrellas affordable when it rains.

The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune.

This story was originally featured on Fortune.com

This post was originally published here. 

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Iranian civilians are struggling to pay for fuel and other essentials as the Rial plunged to 2.3 million per one US dollar and the economic impact of war takes hold, according to a Thursday Wall Street Journal report.

The economic fallout from the war and the US’s naval blockade on Iranian ports along the Strait of Hormuz is driving up the price of goods for Iranians, many of whom earn roughly $250 a month, according to a study by Euronews.

On Monday, the Iranian regime doubled the price of gasoline for users surpassing 110 liters per month. The increases targeted passenger vehicles exceeding their allocated quotas following Tehran’s slashing of monthly subsidies. The shrinking gas supply has reportedly left some drivers stranded without fuel, prompting taxi and truck drivers to go on strike.

The regime is also attempting to repair damage sustained by its refineries during the war and faces difficulties importing fuel and other goods due to the US naval blockade.

In a conversation with a representative for the Union of Truckers and Drivers Organizations Across Iran, a trade union representing the transport sector, a driver in northeast Iran said he had been stranded at a gas station with his family, unable to refuel.

People chant during a rally in Tehran Thursday, 7th May 2026, 05:21 (credit: MAJID ASGARIPOUR/WANA/REUTERS)

The fuel crisis leaves drivers without work for a third of the month

“They say the gasoline is finished until tomorrow,” the driver said in the video. Workers across Iran have reportedly been protesting deteriorating living standards and are now being joined by transportation industry workers, who are disproportionately affected by the fuel shortages.

Late last week, 120 taxi drivers in the eastern Iranian province of Kerman said the government’s fuel cuts left them out of work for a third of every month, according to the WSJ.

“We are waiting 20 days for passengers, 10 days struggling with fuel shortages!” one driver said.

Workers for Snapp, the Iranian delivery and ride-share service, went on strike across the country. The company is one of the largest employers in Iran, with roughly 3 million drivers nationwide, according to the WSJ. Rising costs and shrinking fuel rations have led dozens of Snapp employees to state they can no longer make ends meet.

“We’ve all stopped; no one is working,” said one of the drivers at a protest in Semnan, a city east of Tehran, in a video verified by Storyful.

The fuel crisis has also sparked protests among other parts of the transportation sector. Truck drivers on the border with Iraq went on strike to protest fuel shortages, according to the Human Rights Activists News Agency, a US NGO.

Last week, truckers in the port of Bandar Abbas along the Strait of Hormuz warned they might also go on strike, according to the WSJ.

“It is the driver and the driver’s family who have to pay for it from their pockets,” the port’s truckers said about fuel price hikes in a statement posted by Iran’s Union of Truckers and Drivers. “The issue is that we can no longer bear these pressures.”

Reuters contributed to this report.

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Beijing is injecting tens of billions of dollars into some of China’s biggest financial institutions, strengthening their balance sheets as the government pushes banks to keep lending and support economic growth.

China is moving roughly $54 billion into major state-owned banks and insurance companies, one of Beijing’s most significant recent efforts to reinforce the financial system and give lenders more room to support the economy.

The capital push announced Sunday centers on three state financial institutions receiving a combined 290 billion yuan, or about $43 billion, while another group of major state-controlled insurers will receive additional capital.

Agricultural Bank of China plans to raise up to 160 billion yuan, approximately $24 billion, through a private placement of shares.

Industrial and Commercial Bank of China, the country’s largest commercial lender by assets, plans to raise another 100 billion yuan, or roughly $15 billion.

The Export-Import Bank of China is set to receive a further 30 billion yuan.

The money is intended to strengthen what regulators call core Tier 1 capital — essentially the highest-quality financial cushion banks maintain to absorb losses and continue lending during periods of economic stress.

China is also putting billions of dollars into its insurance sector.

China Life Insurance is set to receive 35 billion yuan, while China Taiping Insurance will receive 7 billion yuan. Other state-backed insurers are also receiving additional capital through separate transactions.

The broader message from Beijing is clear: China wants its largest financial institutions strong enough to continue providing credit even as parts of the economy remain under pressure.

Loan demand has been uneven, property-sector problems continue to weigh on activity, and Chinese banks have faced pressure on profitability as interest rates remain low.

At the same time, Beijing is asking banks to finance strategic industries, infrastructure, manufacturing and other areas the government views as important to long-term economic growth.

That creates a balancing act.

Banks are expected to lend more aggressively while also protecting themselves against bad loans and maintaining sufficient capital.

The new government money gives them additional room to do both.

China has already been using special government bonds to reinforce its banking system. Earlier government disclosures showed that 500 billion yuan in special treasury bonds had previously been issued to help several major banks replenish core capital.

The latest round extends that strategy to additional financial institutions.

What It Means for You

This is not simply a bank bailout.

It is Beijing using government money to make sure its financial system has enough firepower to keep lending.

That matters globally because Chinese banks finance enormous portions of manufacturing, infrastructure, exports and industrial investment.

More bank capital can translate into more credit for factories, technology projects and Chinese companies competing in global markets.

It also shows that Beijing remains concerned enough about economic conditions to strengthen financial institutions before problems become larger.

For investors and businesses, the most important question is what happens next.

If the additional capital produces stronger lending and investment, it could support Chinese growth and global demand for commodities and industrial goods.

If banks remain reluctant to lend — or companies remain reluctant to borrow — then even tens of billions of dollars in new capital may have limited impact.

Either way, China has just made another major government-backed move to keep its financial system capable of supporting the world’s second-largest economy.

JBizNews Desk | New York

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

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The United Nations General Assembly on Monday adopted a Syrian-sponsored resolution designating December 19 as the International Day of Recognition for Women Searchers of Missing Persons, marking the first resolution submitted by Damascus to the General Assembly since the fall of former president Bashar al-Assad’s government in December 2024.  

This resolution aims to highlight women searching for missing family members and recognize the risks and consequences they face in their search, an issue of particular significance in Syria after years of war, detention, enforced disappearances, and displacement.  

The General Assembly called on all member states and other relevant actors to observe the international day through events and activities recognizing the efforts of women who are searching for missing persons and the consequences they have faced. 

Member states and the United Nations system are encouraged to take concrete measures to prevent and end all forms of discrimination and violence against women searching for the missing, to protect their rights, and to include them in discussions and decision-making processes concerning their missing loved ones.  

Ibrahim Olabi, Syria’s permanent representative to the United Nations, told the General Assembly ahead of the resolution’s adoption that Syrian women had faced what he described as “the worst missing persons crisis in modern history.” 

Women and children seen inside al-Hol camp in Hasakah province that houses around 24,000 people, amongst them some 6,200 women and children from around 40 nationalities, and including relatives of suspected Islamic State jihadists, after Kurdish forces withdrew from the site. (credit: Abdulmonam Eassa/Getty Images)

An era of darkness enters a phase of acknowledgment 

Olabi said Syria had moved “from a dark period in which this pain was denied, and the suffering of its victims was concealed” to a new phase that acknowledges the tragedy, seeks to address it transparently, and mobilizes international support for those affected.  

Highlighting the shift in Damascus’ approach to the missing persons issue, Olabi said the matter had previously reached the General Assembly “despite the Damascus regime,” whereas today the initiative comes “from Damascus itself.”  

The resolution is the first initiative of its kind submitted by Syria to the General Assembly since the overthrow of the Assad government. It comes as Syria’s new authorities seek to reshape the state’s approach to missing persons and victims of enforced disappearance, one of the most sensitive issues stemming from decades of repression and the Syrian war. 

Throughout the conflict, mothers, wives, and sisters of missing Syrians played a prominent role in campaigns demanding answers about the fate of detainees and those who disappeared. Many families have continued searching for their relatives both inside and outside Syria.  

Syria’s new authorities face an enormous challenge in determining the fate of the missing, given the multiple parties responsible for disappearances during the years of conflict and the need to collect documentation, preserve evidence, identify human remains, nd connect information with families still searching for their loved ones.  

International recognition to experiences of women

The new resolution gives international recognition to the experiences of women searching for the missing, including women facing similar struggles in conflicts and crises around the world.  

Olabi thanked the countries that supported the initiative and contributed to its adoption, describing the move as affirming the international community’s commitment to “rights, justice and human dignity.”  

For Syria, the resolution carries significance beyond the creation of a new international day. Damascus has placed an issue long associated with abuses and enforced disappearances at the heart of the first resolution it has submitted to the General Assembly in the post-Assad era.  

But the international recognition also leaves a more difficult question inside Syria: To what extent can the authorities turn recognition of women searching for the missing into tangible progress in determining the fate of those whose families are still waiting for answers?  

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Finland is sending seemingly contradictory messages on Israel, ending its multi-year funding agreement with UNRWA while quietly deepening defense cooperation with the Jewish state,  even as Helsinki has become increasingly critical of Israel’s war in Gaza.

The contrast has become increasingly striking. Over the past week, Finland announced it has chosen not to renew its multi-year funding agreement with the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) after it expires this year.

Finnish Foreign Trade Minister Ville Tavio said that this does not signify a reduction in Finland’s humanitarian efforts in Palestinian territories, as it will instead contribute to organizations like the World Food Program.

It was later quietly confirmed that Finland has extended a memorandum of understanding (MoU) for defense cooperation with Israel over the next decade, including research and development (R&D), cooperation, and procurement of defense equipment.

The MoU was approved by Finnish Defense Minister Antti Häkkänen in early 2024, but was not made public. The agreement will last until 2034.

A David's Sling interceptor launching during the Israel-Hamas war; illustrative. (credit: Instagram/Israel Air Force)

Some of these developments can be seen as slightly contradictory to Finnish foreign and domestic policy in recent years. Finland has been actively critical of Israel’s military efforts in Gaza, and just recently signed a statement condemning the E1 settlement project. Yet, it signed the MOU and procured Israel’s David’s Sling air defense system in 2023 for €316 million.

UNRWA funding was previously suspended in January 2024, then restarted, and now stopped again.

So what’s going on?

Elections shaping Finland’s policy with Israel

“Basically, I think it comes down to domestic politics in Finland and the approaching elections [next April],” Dr. Timo Stewart told The Jerusalem Post on Monday. Stewart is a Finnish political scientist and senior researcher at the Finnish Institute of International Affairs, specializing in the Israeli-Palestinian conflict, Western policy in the Middle East, and the role of religion in conflicts and politics. 

He explained that the minister in charge of all the development cooperation funds from which the UNRWA funding comes is Ville Tavio, the minister for trade from the right-wing populist Finns Party, which is part of the coalition. His party has long been critical of UNRWA and, according to Stewart, is “happy to see UNRWA from Israel’s perspective.”

Tavio was responsible for previously freezing the funding back in 2024, but after reviews concluded that they had enough evidence to be confident that the funds aren’t being misused.

As the current funding agreement is coming to an end at the end of this year, all Tavio is doing is saying he is not renewing it for another five years.

“This is something that he can do as minister for foreign trade and development, but which is at odds with what the foreign minister [Elina Valdemar] has been saying over the past couple of years.”

Stewart said this is unusual in the sense that foreign policy in Finland is generally something that the Finnish government aims to have a fairly high degree of consensus on.

“Israel-Palestine-related issues during the term of this government have been something of an exception,” he told the Post.

He cited various examples of this, including the governmental row over whether recognize a Palestinian state or not. It was ultimately decided not to.

Stewart said the context for Tavio’s UNRWA decision is that the Finns Party is “trying to burnish its image as a party with strong policies of its own and being the anti-immigration party in Finland.”

“They want to show that they’re tough on their themes, and with UNRWA being quite unpopular with their voter, it pretty much explains the UNRWA decision.”

Shift among Finns over Israel-Palestine

While Stewart said Israel-Palestine “isn’t exactly the number one concern for Finns,” there has been a shift in Helsinki’s policy – in many ways in seemingly opposite directions.

“After October 7th, it’s been in the news a lot. And it has moved up quite a bit on the list of issues that the government has had to discuss,” Stewart said.

“It’s just been a very polarizing issue. There’s a great many Finns who feel quite strongly one way or the other. And this has also meant that it’s been more present in inter-government dynamics and also the dynamics between the opposition and the government.”

The Finns Party, for example, has used the topic of Israel for voting traction, he explained.

“They’ve identified Israel as sort of engaged in a similar fight against immigration and Islamism or terrorism or Islamist terrorism,” Stewart told the Post.

The Finns Party also has a significant voter base among Christian Zionists, and so pro-Israel or at least not pro-Palestine rhetoric works in their favor.

Outside the Finns Party, Stewart said there has been “a marked shift in the general population, becoming quite a lot more critical towards Israel than they used to be.”

“The government has tried to do a balancing act and in some instances has actually deepened cooperation with Israel,” he added.

Defense is one of Finland’s top priorities 

This links to the topic of the MoU.

Stewart explained that the reason Finland is concerned about its own defense is because of Russia, which it has seen as an increasing existential threat since Moscow’s invasion of Ukraine in 2022.

Since the Russia-Ukraine war began, Finland has significantly scaled up its military readiness, defense spending, and manpower plans. Finland maintains a core wartime strength of 280,000 to 300,000 troops, but it has increased the number of reservists participating in mandatory refresher training exercises by roughly 50%. Its defense spending has also risen past 2.5% of its GDP. Furthermore, shortly after the invasion of Ukraine, Finland officially joined NATO.

As such, having defense systems like David’s Sling is of paramount importance to Finland due to the relative advancement of Russian missiles and drones. Finland has already faced drone incursions from Russia.

Regarding the MoU, Stewart said it was not classified information; the government just likely chose not to advertise it “at a time when events in Gaza were in the news all the time, and Israel was seen as a bit of a risky trading partner in weapons trade.”

Now it has been made public, “the opposition has latched onto it,” he said.

“There’s been this dual messaging, whereas there’s actually quite a lot of defense cooperation going on between Finland and Israel, but the government has been trying to downplay it somewhat. And this memorandum seems to confirm that there is actually quite a lot going on.”

Another reason for the secrecy is that Finland takes a fairly cautious stance when it comes to foreign policy, typically following in the wake of its EU partners, Steward said.

“Looking at the EU spectrum, Finland has been somewhere in the middle, maybe a little bit on the cautious side in a lot of the statements. There’s been harsh criticism, yes, but usually only when the key EU partners or a clear majority of EU countries are also saying the same thing. Finland hasn’t been an outlier like Spain, Ireland.”

The same governmental split discussed earlier regarding UNRWA has implications for weapons procurement.

“The military and the defense ministry will choose to buy weapons that they think are best for Finland, and then the foreign ministry pursues the foreign policy that they think is in line with Finland’s interests and values. And you could see a clash when it comes to arms trade with Israel.”

Another reason that Israel is in the spotlight in the Finnish government is because of Israel’s relations with Russia, and its decision to cease exporting certain weapons to Ukraine.

“If Israel is not supplying weapons to Ukraine because it does not want to antagonize Russia, is it possible that Finland might run into similar difficulties should we have need of weapons?”

In February 2022, then President of Finland Sauli Niinistö said, “Even in the best of circumstances, the dire asymmetry of the relationship makes Russia a potential existential threat to Finland. The core of Finland’s foreign and security policy has always been about the management of this threat.”

It would appear the Israel MoU is just one of the ways Helsinki is aiming to do that.

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Donald Trump Jr. privately urged Republican state attorneys general to leave prediction markets to federal regulators as states intensify efforts to treat the fast-growing platforms as gambling operations, according to a New York Times report.

The president’s eldest son reportedly made the argument during a closed-door gathering of Republican attorneys general in New Orleans in March. Four people familiar with his remarks told the Times that Trump Jr. accused established gambling companies of attacking prediction markets to protect their own monopolies.

His intervention is attracting scrutiny because he has financial and advisory relationships with the industry’s two most prominent companies, Kalshi and Polymarket.

Kalshi hired Trump Jr. as an adviser in January 2025, with compensation reportedly including more than $300,000 in company shares. He also joined Polymarket’s advisory board after his investment firm, 1789 Capital, acquired a stake in the business.

Prediction markets allow customers to buy contracts tied to the outcome of real-world events, including elections, sporting contests, economic reports and geopolitical developments. Prices fluctuate according to what traders believe is likely to happen, and winning contracts generally settle at $1.

Kalshi and similar platforms argue that these products are federally regulated financial contracts under the Commodity Exchange Act. Kalshi operates as a designated contract market overseen by the Commodity Futures Trading Commission.

State officials and casino regulators see the industry differently. They contend that many contracts—particularly those tied to individual games and player performances—function like ordinary sports bets while avoiding state licensing requirements, consumer safeguards and gambling taxes.

That dispute has produced litigation involving approximately 20 states. Republican and Democratic officials have both challenged prediction-market operators, making the regulatory fight broader than a purely partisan confrontation.

The central legal question is whether federal oversight by the CFTC overrides state gambling laws. Prediction-market companies say allowing each state to impose its own rules would fragment a federally regulated national marketplace. States counter that federal registration cannot be used to convert unauthorized sports betting into a financial product.

Trump Jr. reportedly told the attorneys general that prediction markets already face robust federal oversight and should not be policed as state gambling businesses.

A spokesman for Trump Jr. said he does not communicate with the federal government on behalf of companies in which he invests or serves as an adviser. Kalshi said his role concerns marketing and that he does not advise the company on regulatory policy.

The distinction may not end questions surrounding the appearance of a conflict. State attorneys general are among the officials deciding whether to investigate, prosecute or sue prediction-market companies, and Trump Jr.’s remarks were delivered directly to Republican members of that group while his holdings stood to benefit from reduced state enforcement.

The industry has grown from an election-focused niche into a major competitor to regulated sportsbooks. The outcome of the legal battle will determine not only who oversees prediction markets, but also whether states can collect taxes and enforce age, advertising and consumer-protection rules on billions of dollars in contracts increasingly indistinguishable from conventional betting.

The dispute is likely to move through multiple federal courts and could ultimately require the Supreme Court to decide where federal commodities regulation ends and state gambling authority begins.

JBizNews Desk | New Orleans

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From September 1, Luxembourg will no longer approve sale of Israel Bonds, and it remains unclear if Israel will be able to continue issuing them in the EU.

According to an official statement from Luxembourg’s financial authority, which is a major EU and euro zone financial center, it will stop approving the prospectuses required by EU law to offer Israel Bonds, which are aimed primarily at Diaspora Jews and pro-Israel Jewish organizations. Israel Bonds raising in the EU represents a minority of Israeli Bonds issued, but were used to raise more than $2.5 billion in 2025, and a similar amount in 2024, according to the Ministry of Finance.

Luxembourg replaced Ireland

Luxembourg’s announcement is an embarrassment for Israel, as the country was only chosen a year ago by the Ministry of Finance to replace Ireland, where sweeping criticism of Israel’s policy in Gaza and the administered territories led to unprecedented pressure on the central bank to stop approving prospectuses.

As of September 1, 2026, it is unclear which of the 27 EU member countries will approve prospectuses that allow debt to be raised through these non-marketable government bonds. The Central Bank of Ireland told the country’s media that it had not received a request from Israel to re-approve prospectuses, as of last week.

According to EU law, a member state of the EU is required to approve a prospectus for any issuance of non-marketable bonds by a country outside of it. Until the UK’s withdrawal from the EU in 2020, the UK was responsible for this in the Israeli context, and London was the financial center where the bonds received the required legal approval.

New Israeli Shekel bills are seen in front of an upwards-trending graph (illustration) (credit: HADAR YOUAVIAN/FLASH90)

After Brexit, the underwriting process moved to Ireland. But following the Hamas massacres of October 7, 2023, and the war in Gaza, public opinion in Ireland — and the political system — became hostile towards Israel.

Over the past three years, successive Irish governments have called for the suspension of preferential trade relations between Israel and the EU, for sanctions on Israel, for the prosecution of senior Israeli officials on suspicion of involvement in the “genocide” in Gaza, and for the reduction of financial and trade ties between Ireland and Israel. In December 2024, Israel closed its embassy in Dublin.

Following the criticism of Israel, public pressure and media and political debate arose over Ireland’s involvement in approving prospectuses for raising debt in the form of bonds, and claims that this aids the “Israeli war machine” and raises “fear of involvement in war crimes in Gaza.”

Various parties demanded that the central bank stop the approvals, and Israel announced — in an attempt to preempt the blow — that it was transferring the approval of the prospectuses to Luxembourg. The decision was made in August 2025 by the then-Accountant General Yali Rothenberg. “Globes” was told at the time that this was not a crisis, and “if anything — this is an opportunity,” due to Luxembourg’s centrality as a global financial center in issuing bonds.

But Luxembourg was and remains one of the most critical countries of Israel in the EU. The decision to approve Israel Bonds there sparked criticism, but at the time Luxembourg’s financial authority announced that it “saw no reason” to reject the Irish-Israeli request to carry out the prospectuses for the State of Israel. However, now, a year later, and after public and political pressure on the issue, the authority has announced in recent weeks that it refuses to continue with this arrangement for another year. Luxembourg shared the Irish and Spanish position regarding the suspension of free trade agreements with Israel and is promoting maximum pressure on Israel through sanctions.

The technical reasoning

The reasoning given by the Luxembourg financial regulator was not political, but technical. It announced that, according to its interpretation of EU law, it could not grant a request to replace another country (Ireland) with the approval of the prospectuses year after year, because this would be “contrary to EU rules”.

However, when the “Luxembourg Times” contacted the EU regulator (ESMA) on the matter, the regulator stated, “There is no obstacle to accepting such a request year after year”.

The Luxembourg financial regulator subsequently told the newspaper that it disagreed with the position and that “such transfers are intended to be exceptional and should only be accepted in limited circumstances, in particular if the receiving national competent authority has a better understanding of the specificity of the financial product to be issued, or if the issuer already has a strong presence in the national market of the receiving national authority.

In any case, Luxembourg’s decision has been presented as final. It will only be responsible for approving prospectuses until August 31, and not one day later.

Who will help Israel?

It is unclear who will be the EU financial authority that will help Israel after this date. Will it be Ireland, which Israel left while criticizing its “anti-Israel” policy? The Irish media reports that the central bank has not received any such request from Israel, as required, by last week. Will the parties resort to legal proceedings that would oblige Luxembourg to grant the Irish-Israeli request? Or will Israel perhaps turn to a third, friendlier country, which would become the “home country” for future Israel Bonds approvals, or will it be forced to abandon the EU channel altogether.

Amnesty International has welcomed Luxembourg’s decision and called on all EU countries to join in refusing to approve prospectuses.

The Ministry of Finance says, “Debt management policy is based on a wide range of funding channels in local and international markets, in a variety of currencies and for different periods. As has been proven since the beginning of the war, the Accountant General’s department is prepared and knows how to fully finance all government activities and needs, while relying on a deep and liquid local market and excellent accessibility to global markets. “The extensive debt raising of over NIS 700 billion since the outbreak of the war reflects the strong expression of confidence by investors in Israel and around the world in the stability and strength of the Israeli economy.”

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A farmhouse in the Marche hills doesn’t look like the front line of a fight against four of the world’s biggest agrochemical companies. But that’s what it became on Aug. 7, when a five-year-old Italian farming network gathered there to teach people how to save, trade, and pass down seeds no company can patent. And the stakes are high: Farmers can be sued for replanting patented seeds.

The event came together in less than a month and sold out in a week after a single Facebook post drew more than 1,600 sign-ons in days. It pointed to a growing pain point for farmers: Bayer, Corteva, Syngenta, and BASF now control 56% of the world’s commercial seed market and 61% of its pesticide market, with Bayer alone holding 23% of global seeds. Economists typically flag 40% combined share among a sector’s top four firms as the point where market distortions start, and 60% as the threshold that draws heightened antitrust scrutiny. The entire farming industry already sits at or above that line.

The Rete per l’Agricoltura Naturale, or RAN, calls its project the Casa Diffusa dei Semi, or Distributed Seed House: a network of growers who save, reproduce, and share seeds free of patents and genetic modification, built as an alternative to the corporate seed system. Antonio Lo Fiego, an agronomist and technical director at Arcoiris Sementi Bio, led the first workshop, on selecting, gathering, and preserving vegetable seeds, run on a gift-economy model with no fee to join. RAN says it plans to run the workshop again in future seasons, alongside the rest of a 2026 calendar that’s been selling out within days of opening.

Over half of the world’s seed supply are controlled by four firms.
Antonio Masiello/Getty Images

How four firms ended up owning the world’s seeds

Thanks to a small number of mergers that reshaped the industry within a decade, more than half of the world’s seed supply now sits within just four companies’ hands. Dow and DuPont combined their agricultural divisions into Corteva, while China National Chemical Corporation bought Syngenta, then merged it with Sinochem’s farm assets. Bayer paid $63 billion for Monsanto in 2018, hoping to become a bigger player in seeds and genetically modified crops just as its two biggest rivals were consolidating around it. It later dropped the Monsanto name and folded it into its own brand. And BASF, which didn’t have a major seed business of its own, bought a package of Bayer’s seed and pesticide assets, including canola, soybean, and vegetable seed lines, that regulators had forced Bayer to sell off to win approval for the Monsanto deal in the first place.

The same four firms now sell both the seeds farmers plant and the pesticides those seeds are bred to work with. Monsanto’s then-CEO framed the coming wave of mergers around selling farmers seeds, chemicals, and data as a single package, rather than as products farmers could mix and match. Bayer has since agreed to pay more than $12 billion to settle tens of thousands of U.S. lawsuits tied to Roundup, and days after major farm groups backed Bayer in a Supreme Court case over Roundup cancer claims, Bayer’s Monsanto subsidiary asked Washington for tariffs on a glyphosate ingredient, a move those same groups said would raise costs for farmers.

The concentration runs deeper at the crop level: In the U.S., Corteva controls 38.3% of corn seed and Bayer 33.3%. Cotton is the most concentrated of all: Four firms control 93.6% of U.S. cotton seed, with Bayer alone at 38.4%. Bayer and BASF together hold patents covering 90% of trait acres across corn, soybeans, and cotton.

Farmers can be sued for replanting patented seeds

Patents on seed traits let a company restrict who can grow a variety and can require farmers to buy new seed each season rather than saving and replanting their own harvest. Traditional plant variety rights, the older system for protecting new crop varieties, still let farmers save seed from their own harvest for personal use. Utility patents, the stronger protection now expanding into gene-edited crops, don’t carry that exemption; a farmer who replants patented seed without a license can be sued, regardless of whether they bought the seed or grew it themselves.

RAN and its predecessor (the older Rete Semi Rurali) both ground their work in Article 9 of the FAO’s International Treaty on Plant Genetic Resources for Food and Agriculture, which recognizes farmers’ rights to save, use, exchange, and sell farm-saved seed. The FAO estimates roughly 75% of crop genetic diversity has been lost over the past century as uniform, commercially bred varieties displaced local ones.

Italy’s agriculture is already showing what that narrowed resilience looks like under stress. Extreme heat this year can cut milk production at Italian dairy farms by as much as 10%, and pushed grape harvests in Lombardy’s Franciacorta region to their earliest start on record.

“Taking this path represents a danger for farmers and peasant seeds, as well as for the environment and consumers,” said Stefano Mori, coordinator of Centro Internazionale Crocevia, an Italian organization that has worked for more than three decades on food sovereignty, farmers’ rights, and biodiversity protection.

“Covered by industrial patents, NGTs and the products derived from them could accelerate the already worrying concentration of the seed market and contaminate non-cultivated fields with biotech varieties,” he continued, “amounting to a genuine misappropriation of peasant biodiversity and undermining the very survival of organic farming.”

This story was originally featured on Fortune.com

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A YouTube video no longer needs to hold someone’s attention for even a few seconds before the platform calls it a view.

Beginning Monday, Aug. 24, YouTube is standardizing its public view count across Shorts, long-form videos, podcasts and livestreams so that a view is recorded from the first frame a video begins playing.

That means a Short appearing in someone’s feed, a long-form video autoplaying on the home page or a livestream beginning to play can all register a public view immediately.

The old measurement is not disappearing. YouTube is renaming it “engaged views.” That metric will show how many people actually continued watching beyond the initial start or deliberately clicked to watch.

The distinction is important because public view counts are likely to rise faster under the new system.

A creator who previously saw 100,000 views may now accumulate a larger headline number simply because more starts are being counted. That does not necessarily mean 100,000 people meaningfully watched the content.

YouTube says the change is designed to eliminate confusion created by different counting methods across its various formats. Shorts had already moved toward first-frame counting, while longer videos were measured differently.

For creators, advertisers and sponsors, that makes the headline “views” number less useful on its own.

The more meaningful question becomes how many of those views turned into engaged views, watch time and actual audience retention.

YouTube is keeping those deeper metrics inside Analytics, and monetization is not being loosened alongside the public count. Creator earnings will continue to depend on engaged Shorts views and engaged watch hours, while eligibility for the YouTube Partner Program will continue to rely on qualified views and watch hours.

In other words, creators may wake up to faster-growing view counts without automatically earning more money.

That matters well beyond YouTube influencers.

Businesses increasingly use YouTube numbers to judge advertising campaigns, sponsorships, podcasts, product launches and the reach of branded content. A company comparing this month’s campaign with one from earlier in the year will need to understand that the underlying definition of a “view” has changed.

The same applies to media outlets and creators selling sponsorships based on audience size. A video with 500,000 public views under the new system may not represent the same level of attention as 500,000 views under the old one.

YouTube says a thumbnail merely appearing on a page still does not count. The video itself has to begin playing.

The change therefore measures exposure more broadly, while engaged views remain the better signal of whether anyone stayed.

For anyone using YouTube numbers to measure success, the headline view count just became easier to earn.

The harder number — and probably the more valuable one — is now the number of people who actually kept watching.

JBizNews Desk | San Bruno, California

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Jersey City this week banned the construction of new AI data centers, joining a growing number of municipalities across the country that have placed restrictions on the power-hungry facilities. The Jersey City Council on Wednesday unanimously voted to pass an ordinance banning data centers in the city’s industrial zones, where such facilities would otherwise be permitted. Jersey City is now the 34th municipality in New Jersey to ban data centers, with more than one million Garden State residents living in municipalities where the facilities are banned.

Ordinance 26-057 amends the city’s Land Development Ordinance to remove “cyber hotels” and data centers as permitted principal uses in the city’s industrial district, according to HudPost.

Jersey City already has five data centers that are located inside existing office buildings shared with other tenants; the new law does not affect the existing facilities, according to Jersey City Mayor James Solomon. The ordinance blocks new standalone data centers from industrial land.

The policy change fulfills a recommendation in the city’s Master Plan, which dates to 2000 and calls for a thorough review of data center development. A 2020 update went further, recommending that the city eliminate data centers as a permitted use in industrial zones.

On June 30, the city’s Planning Board recommended the amendment in a 6-0 vote, and the Council passed it on first reading on July 15.

“Data centers eat up power, drive up utility bills for every ratepayer in this state, and employ almost nobody,” Solomon said. “Our industrial land should be put to work for the people who live here by creating real jobs with real wages. I appreciate the tireless work of climate advocates and the City Council ensuring Jersey City is protected from data centers.”

Supporters of the ban have argued that the land being used for data centers should instead go to employers rather than facilities that increase utility costs and pollute the environment.

Local officials collaborated with grassroots activists from the Climate Revolution Action Network (CRAN) on the ordinance. The climate advocacy group has been one of the leading voices in the fight to ban data centers across New Jersey.

“Data centers are a bad deal for the neighborhoods around them. They drive up everyone’s electric bills and barely hire anyone once the construction is done,” Ben Dziobek, executive director of CRAN, said.

“When communities like Jersey City ban data centers, there’s more space for businesses that actually put people to work instead of server farms that just leave residents paying more.”

Council members have called for a statewide moratorium, similar to the one enacted by New York Gov. Kathy Hochul in July, making New York the first state in the nation to enact such a ban.

The moratorium temporarily bans the construction of large new data centers that consume 50 megawatts or more of power, giving officials more time to develop measures to protect residents and the environment.

Those officials have argued that local governments should not have to fight these projects one at a time. Jersey City, the state’s second-largest city, joins other municipalities that have enacted similar bans, including Bayonne, Howell, Neptune Township, Millville, Red Bank, Warren Township, Andover Township, and about two dozen more municipalities, with more bans expected soon, as Patch reported.

In May, Gov. Mikie Sherrill announced a plan to “hold data centers accountable while positioning New Jersey to lead in AI innovation.” The governor’s plan includes establishing fair-share rules to make sure data centers contribute to grid infrastructure needs and developing statewide standards to help municipalities negotiate with companies.

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Google put four new phones on sale Wednesday morning at prices roughly $100 higher than last year’s, and it did so hours before it had even taken the stage to introduce them. Pre-orders for the Pixel 11 lineup opened at 10 a.m. Eastern, with the keynote in New York not scheduled until 6 p.m. That is a first for the company, and it says something about how confident Google is that buyers already know what they are getting.

The lineup consists of the Pixel 11 at $899, the Pixel 11 Pro at $1,099, the Pixel 11 Pro XL at $1,299, and the foldable Pixel 11 Pro Fold at $1,899. The three standard models ship Aug. 20, while the Fold is expected to reach buyers in October. A new Pixel Watch 5 and a Pixel Tag tracker were also introduced, though the Tag will not go on sale until November.

The price increase is the part that matters commercially. The Pixel 10 series started at $799; the Pixel 11 starts at $899. Google’s justification is storage: the 128GB entry models are gone, and every Pixel 11 now begins at 256GB. Buyers are paying more and getting twice the storage, which is less a generosity than a response to conditions across the industry. A worldwide shortage of memory chips has been driving handset costs higher all year, and every major manufacturer is absorbing or passing along the same pressure.

Under the hood is the reason Google scheduled the launch when it did. All four phones run the Tensor G6, the first major Android smartphone chip built on Taiwan Semiconductor’s 2-nanometer process and the first in commercial production to use gate-all-around transistor architecture. Google says the chip delivers up to 20% better power efficiency, 25% faster web browsing and 15% faster app loading than its predecessor, with artificial intelligence processing units 50% more powerful.

That extra processing goes almost entirely into the camera and into Gemini, Google’s AI system. The base model gets a 48-megapixel main camera with 56% more light sensitivity and a telephoto lens reaching 30x zoom. The Pro models push to 120x zoom and can capture low-light shots up to 4.5 times faster. The Pro camera bar also gains a feature Google calls HiLight, a ring of ambient lights around the flash that replaces the temperature sensor carried on the last three generations.

The software pitch is an AI assistant that acts rather than answers: ordering groceries, booking rides and placing calls to businesses, with a live transcript the user can step into at any point. That agent is limited to the United States at launch. Buyers of the Pro and Fold models receive six months of Google’s paid AI subscription at no charge, and early pre-orders carry discounts of up to $250 — two levers that soften the sticker increase without cutting the list price.

The calendar is the strategy. By moving its hardware event to August, Google now lands between its two largest rivals rather than trailing both. Samsung introduced its latest foldables in late July, and Apple is expected in September with the iPhone 18 Pro, the Pro Max and its first foldable iPhone. Apple is holding the standard iPhone 18 until spring 2027, which leaves a gap in the mainstream price tier that Google is aiming at directly. At $899, the Pixel 11 undercuts Samsung’s Galaxy S26 Ultra by $400.

At the top of the range the math runs the other way. The $1,899 Pro Fold costs $100 more than Samsung’s competing foldable, and Samsung has been building folding phones since 2019 against Google’s start in 2023. Google is asking customers to pay a premium for software integration in a category where its rival has the longer hardware track record.

Alphabet does not break out Pixel revenue, and the line has never been a meaningful share of the company’s earnings next to search and cloud. Its purpose is strategic: a first-party showcase for Gemini that reaches consumers without Apple or Samsung standing in between. That argument gets harder to make at $899 than it did at $799, and Wednesday evening’s keynote is where Google has to make it.

JBizNews Desk | New York

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Trading firms are now paying Trump Media a monthly fee for a direct pipe that delivers President Trump’s Truth Social posts to their computers a fraction of a second before those posts appear to everyone else. The company told analysts on its first-ever earnings call Monday evening that it has signed more than 10 customer agreements, mostly with high-frequency trading firms, and that those customers are paying between $60,000 and $100,000 a month for the feed, known as an application programming interface. The head start is measured in split seconds, and it puts the buyers ahead of ordinary retail traders.

That sliver of time is the entire product. Wall Street’s largest trading desks run algorithms that read incoming text and fire off orders automatically, without a human touching a keyboard. Getting the information a few seconds earlier can translate into very large profits for those systems. And the president’s posts are unusually valuable raw material, because he uses the platform to announce policy before it reaches a press office. His statements on Iran and the Strait of Hormuz have moved oil, and his 2025 tariff announcements first knocked stocks down and then pushed them back up when he softened the measures.The service, called Truth API, went live on August 1 and provides low-latency licensed access to publicly available posts from certain top Truth Social accounts.

The company has said the feed carries posts from the platform’s 10 highest-ranking accounts and delivers them in milliseconds. Rival social networks also license data feeds to traders; what makes this one different is that the account generating the market-moving material belongs to the sitting president, and the company selling the feed is owned by him.

For Trump Media, the money matters. The company reported second-quarter revenue of $1.7 million, up 89 percent from $0.9 million a year earlier, alongside a net loss of $238.1 million, most of it non-cash items including $190.4 million in unrealized losses on digital assets and equity securities. Operating expenses came down 44 percent from the first quarter to $165.2 million, and the company pointed to a strong cash position, but investors sold the stock anyway, sending shares down 6.57 percent to $3.70. Total assets stood at $2.0 billion at the end of the quarter, with roughly $1.9 billion in financial assets.

Set the API contracts against those numbers and the appeal is obvious. Ten customers paying $60,000 to $100,000 a month works out to somewhere between $7 million and $12 million a year — several times what the entire company brought in over the past twelve months from advertising, streaming subscriptions and fund management fees combined.

The audience for the underlying platform, meanwhile, keeps shrinking. Truth Social drew 261,300 daily active users in July, down 40 percent from a year earlier, according to figures the research firm Similarweb provided to CNN, while X averaged 123.5 million daily users in the same month. The value being sold is not reach. It is speed of access to one man’s keyboard.

That is where the objections start. Senators Elizabeth Warren and Adam Schiff have asked federal regulators to examine whether the arrangement is legal, writing to Securities and Exchange Commission Chairman Paul Atkins that handing early access to Wall Street firms and high-frequency traders will damage confidence in the basic fairness of the markets. A former senior SEC official, Boston College law professor Renée Jones, has argued that information of this kind belongs to the government and the public rather than to a private company.

Securities lawyers are less certain the practice breaks any rule. Robert Frenchman, a partner at the firm Dynamis, told Reuters the service does not appear to violate federal securities law, since a technology platform is generally free to sell its distribution in tiers even if the result strikes people as unfair.

That gap between unfair and illegal is what any fix has to close, and there are only two realistic routes. Regulators can act — the Warren-Schiff letter is a request for the SEC to determine whether selling accelerated access to presidential announcements crosses into market-manipulation or disclosure territory. Or the White House can neutralize the product by pushing market-moving announcements through official government channels at the same moment they hit Truth Social, the way agencies already release economic data on a fixed schedule to everyone at once. Until one of those happens, the fastest route to the president’s next policy statement carries a price tag.

Trump Media also told investors it expects to complete its prospective merger with TAE Technologies in the fourth quarter, subject to regulatory and closing conditions.

JBizNews Desk | Wall Street

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The owner of a container ship handed the Panama Canal $4 million on Monday for one thing: permission to go ahead of everyone else. The vessel, the Seaspan Benefactor, won a near-record auction price to jump the queue at a waterway where large ships are now waiting 10 days to get through, and Seaspan did not respond to a request for comment on Tuesday.

That $4 million is not a toll increase and it is not a fee the canal set. Most ships cross at a flat published rate by booking a reservation in advance. Vessels without one can either sit at anchor or bid in the canal authority’s auction, which sells a small number of daily slots to whoever offers the most. The price is simply what one company decided a week and a half of waiting was worth. It was more than double the average auction price of the previous seven days, according to a document seen by Bloomberg.

Time is expensive at sea for reasons that have nothing to do with the canal. A large gas or container ship costs tens of thousands of dollars a day to run whether it moves or not, cargo is usually sold against a delivery window written into a contract, and missing that window can cost more than the bid. When a buyer in Asia needs a cargo of American propane or liquefied natural gas by a fixed date, paying millions to move up the line can still be the cheaper answer.

The congestion traces back to the Iran war. With traffic sharply curtailed at two Persian Gulf chokepoints — the Strait of Hormuz and, more recently, the Bab el-Mandeb — buyers and sellers of oil, natural gas, fertilizer and chemicals, particularly in Asia, have been rerouting cargoes, and much of that redirected trade is funneling through Panama. The practical effect is that U.S. Gulf Coast export terminals have become the substitute supplier for a lot of Asian demand, and Panama is the shortcut those cargoes take.

Neopanamax vessels — the larger class that carries liquefied petroleum gas, liquefied natural gas, crude and refined products — face a 10-day wait for the Pacific-to-Atlantic direction, the longest since May, according to Argus Media data.

Two problems inside Panama are making it worse. Lock maintenance running until September is affecting the Neopanamax locks, and the canal recently cut the maximum draft allowed in those locks for the weeks ahead after rainfall came in below expectations. Draft limits are not a small technicality: a ship that cannot load to its full depth carries less cargo per trip, so the same tonnage requires more transits through a canal that already cannot handle the traffic it has. Water levels in Gatun Lake have continued to fall, and the authority moved earlier this month to tighten draft limits again. In July it had already begun curtailing some vessel-booking slots because of water supply.

The Panama Canal Authority said auction costs have risen because of shifts in global trade supply and demand and confirmed that some bids have topped $1 million, while declining to comment on the $4 million transaction or the ship that paid it. Its longstanding position is that auction results reflect what customers bid, not what the canal charges.

The scale of the move is easier to see against where prices sat before the fighting started. Auction slots went for roughly $135,000 to $140,000 before the war, then climbed to about $385,000 in March and April. A standard crossing runs somewhere between $300,000 and $400,000 depending on the vessel, and the extra paid for an earlier slot, once $250,000 to $300,000, has averaged around $425,000 during the surge. A $4 million Neopanamax slot had not been seen since the drought of November 2023.

As of Tuesday, the Seaspan Benefactor was sitting on the Pacific side of the canal, apparently waiting to transit northbound.

The fix, such as it is, is already underway and slow. The canal authority says it has increased transit capacity by about 15 percent and credits wetter weather for faster velocities. The lock maintenance is scheduled to finish in September, which should return capacity that the industry badly needs. Beyond that, shippers are doing what shippers do in a squeeze: booking reservations further out, splitting cargoes across more sailings, and pricing the delay into freight rates rather than gambling on the auction.

Whoever ends up buying that cargo pays for it. A $4 million line jump does not stay on one balance sheet — it moves into freight rates, then into the delivered cost of fuel, fertilizer and chemicals, and eventually into the price of things made from them. The number is remarkable because it is public. The pattern it belongs to is not.

JBizNews Desk | New York

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A U.S. military helicopter fired into the rudder of a Panama-flagged container ship in the Gulf of Oman early Tuesday, deliberately wrecking the vessel’s steering rather than sinking it, after the crew ignored warnings from the American forces enforcing the naval blockade of Iran’s ports. The ship afterward appeared to be trying to move its crew onto another civilian vessel, and there were no immediate reports of casualties.

The vessel is believed to be the Vela Nova. The United Kingdom Maritime Trade Operations reported an incident involving a container ship and military forces in the Gulf of Oman, having first logged the vessel as a tanker; maritime risk group Vanguard and a security source separately assessed that the Vela Nova was struck by a missile roughly 71 nautical miles off Pakistan’s coast.

The targeting choice is the whole point of the operation. American forces have been aiming at rudders, engine rooms and smokestacks — the parts that make a ship move — so the vessel stops where it is instead of burning or going down with its cargo and crew. It is enforcement by immobilization, and it has become the standing method along this stretch of water.

How the blockade works now

Washington first imposed the blockade on Iranian ports on April 13. It came off in late spring, then went back on in mid-July after talks between the two sides collapsed. Since U.S. forces reimposed the blockade on July 13, they have redirected 55 commercial vessels, disabled two and boarded two to enforce compliance, according to figures Central Command released Sunday. Those numbers predate Tuesday’s incident.

The pattern is consistent: ships heading for Iranian terminals are hailed, warned repeatedly, and told to turn around. Most comply and are redirected. The ones that keep going get shot in the machinery.

The price at the pump end of the chain

For business readers, the number that matters is crude. Oil jumped about 5% Monday as confidence faded that Washington and Tehran would reach a deal to restore traffic through the Strait of Hormuz, with West Texas Intermediate settling at $82.13 a barrel and Brent at $87.72. By early Tuesday, Brent was trading near $92.54, roughly $5 above the prior morning and about $25 higher than a year ago.

The gap between the two benchmarks is the tell. Analysts described Monday’s move as pure Hormuz risk pricing rather than a fresh demand story, and flagged the widening Brent-WTI spread as the clearest evidence that this is Middle East supply risk, not global consumption, driving the tape. WTI, priced at Cushing, Oklahoma, barely moved Tuesday. Brent, which prices the barrels that actually have to sail past the shooting, did the moving.

Shipping costs are carrying the same premium. War-risk insurance for vessels in the region has climbed to between 7.5% and 10% of hull value — a charge that lands on every cargo, not just oil, and gets passed down the line to the buyer.

There is a strategic reserve angle as well. U.S. Strategic Petroleum Reserve stocks have dropped below 300 million barrels, the lowest since January 1983, as the conflict has dragged on. The cushion Washington would normally use to blunt a price spike is thinner than it has been in four decades.

Diplomacy running alongside the shooting

Tuesday’s strike landed in the middle of an active negotiating track. Pakistan’s defense minister told Bloomberg the two sides are close to “some sort of an arrangement,” pointing to signals from the past few days, while Qatar said Oman-Iran negotiations have reached an advanced stage with positive feedback from both parties. Iran’s foreign ministry spokesman countered that the United States has not come to the table seeking genuine talks or peace.

Tehran’s asking price has not moved. Iran wants the blockade ended, sanctions lifted and compensation for war damages before it agrees to fully reopen Hormuz, and has declined direct talks with Washington for now. President Trump told Axios the U.S. is “only semi-negotiating,” and indicated he would lean on the blockade to squeeze Iran’s economy rather than order another round of airstrikes.

That is the trade every shipper, refiner and insurer is now pricing: an economic siege that Washington intends to keep tightening, a Tehran that will not reopen the waterway until the siege lifts, and a shipping lane where the cost of guessing wrong is a missile in the engine room. Until one of those three changes, the risk premium stays in the barrel — and in the freight rate.

JBizNews Desk | New York

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The artificial intelligence boom inside healthcare is entering a new phase. Hospitals are no longer asking whether AI can improve operations—they are deciding which companies will become long-term technology partners as AI moves from pilot projects into enterprise-wide deployments.

That transition is creating a new spending cycle that extends well beyond software developers. Cloud providers, cybersecurity firms, medical technology companies, data infrastructure vendors and consulting firms all stand to benefit as health systems commit larger budgets to AI implementation.

For the past two years, many hospitals limited AI to narrowly defined pilot programs focused on documentation, scheduling or administrative workflows. Those trials helped executives evaluate the technology while limiting financial risk. Increasingly, however, health systems are approving broader deployments after early results showed measurable reductions in administrative workloads and improvements in operational efficiency.

The economics are driving the shift.

Healthcare providers continue facing persistent labor shortages, rising wage costs and pressure to improve financial performance without reducing patient care. Administrative expenses consume a substantial share of healthcare spending, making automation one of the few areas where hospitals believe meaningful cost savings remain achievable.

That changes how purchasing decisions are being made.

Instead of buying individual AI applications, health systems are increasingly evaluating enterprise platforms capable of supporting multiple departments under a single technology strategy. The conversation is moving away from isolated productivity tools toward long-term infrastructure investments involving clinical documentation, revenue-cycle management, imaging analysis, patient communication and operational planning.

The ripple effects extend throughout the healthcare supply chain.

Electronic health record vendors are embedding AI capabilities directly into their platforms. Medical device manufacturers are expanding AI-assisted diagnostics. Cybersecurity providers are strengthening protections around increasingly valuable patient data, while cloud infrastructure companies continue investing heavily to support growing healthcare computing demands.

Investors are paying close attention because healthcare represents one of the largest untapped enterprise AI markets.

Unlike consumer applications, hospital technology decisions often produce recurring revenue through multi-year contracts, implementation services, software subscriptions and ongoing support. Once integrated into clinical workflows, switching providers becomes both expensive and operationally disruptive, creating long-term customer relationships.

The opportunity, however, comes with equally significant expectations.

Hospital executives are demanding measurable returns on investment rather than demonstrations of technical capability. Vendors must increasingly prove that AI reduces costs, improves productivity, strengthens compliance or enhances patient outcomes before receiving enterprise-wide contracts.

The broader business story is that healthcare is beginning to resemble previous waves of enterprise technology adoption. Early experimentation is giving way to strategic capital allocation. The companies that secure these long-term relationships may become the healthcare technology leaders of the next decade, while those unable to demonstrate measurable business value risk being left behind.

For Corporate America, the lesson extends beyond healthcare. AI is entering a new commercial phase where purchasing decisions are increasingly driven by return on investment rather than technological excitement. The next winners may not be the companies with the most advanced models—they may be the ones delivering the clearest financial results.

JBizNews Desk | New York

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Artificial intelligence is turning familiar phone, text and online scams into cheaper, faster and far more convincing attacks capable of impersonating relatives, bank employees, physicians and government officials, the American Bankers Association warned Wednesday in testimony prepared for the Senate Special Committee on Aging.

Paul Benda, the banking group’s executive vice president for risk, fraud and cybersecurity, said criminals no longer need advanced technical skills to produce realistic voices, videos, photographs, advertisements or online identities.

His testimony was released ahead of a Wednesday afternoon Senate hearing examining deepfakes, chatbots and the growing use of AI in fraud targeting older Americans.

The shift means consumers can no longer assume that recognizing a family member’s voice, seeing someone on video or receiving a professional-looking message proves that the person is real.

A scammer may copy a relative’s voice from a short social-media clip, invent an emergency and demand that money be transferred immediately. Similar technology can create a fake bank representative, doctor, lawyer or government employee who appears to know personal details about the intended victim.

Benda described the change as the industrialization of traditional fraud rather than the creation of an entirely new category of crime.

AI allows criminals to personalize thousands of messages, improve grammar, translate scams into different languages and quickly change their story when a victim asks questions. Tasks that once required a skilled fraud operation can increasingly be completed with inexpensive consumer technology.

Older Americans face particularly severe consequences because stolen money may come from retirement savings, home-sale proceeds or funds reserved for medical and long-term care.

Unlike younger workers, retirees may have little opportunity to replace a major loss through future earnings. Embarrassment and fear of losing independence can also discourage victims from reporting what happened.

The strongest defense is no longer simply listening for a suspicious voice.

Families should establish a private word or question that must be used before money is sent during an alleged emergency. A caller claiming to be a child, grandchild or close friend should be contacted independently using a trusted phone number already stored by the family.

Consumers should also resist demands to remain on the phone while moving money. Fraudsters often try to prevent victims from contacting relatives, bank employees or law enforcement officers who could expose the scheme.

Requests involving gift cards, cryptocurrency, wire transfers or cash delivered by courier remain major warning signs. Those payment methods can move money quickly and make recovery difficult.

An unexpected caller should never be trusted merely because the correct bank name, account type, home address or family information is mentioned. Much of that data can be collected from breaches, public records and social-media profiles before the call begins.

Banks are using transaction monitoring and artificial intelligence to detect unusual transfers, but financial institutions do not always have enough information to determine whether a customer is acting voluntarily under pressure from a scammer.

A large withdrawal may appear legitimate because the account owner personally approved it. In many cases, the criminal has coached the victim to lie about the purpose of the transaction or claim the money is needed for home repairs, a vehicle or a family expense.

That creates a difficult balance for banks. Employees may recognize signs of exploitation, yet customers generally retain the right to access and transfer their own money.

Industry representatives are urging policymakers to improve information sharing among banks, telecommunications companies, technology platforms and law-enforcement agencies. Faster warnings could allow institutions to identify linked accounts, fraudulent phone numbers and repeated scam patterns before more victims lose money.

Responsibility also extends beyond banks. Voice-cloning tools, social-media platforms, messaging services, phone companies and digital-payment providers can each become part of the path between a criminal and a victim.

The Senate hearing is expected to include testimony from an AI-scam victim, a banking cybersecurity specialist, an AI policy attorney and the Consumer Federation of America’s director of AI and privacy.

Lawmakers will examine whether current consumer-protection laws can keep pace with technology that makes fabricated identities increasingly difficult to distinguish from real people.

Until stronger safeguards are developed, families may need to treat urgent financial requests as potentially fraudulent even when the voice, image and personal details all appear authentic.

The safest response is to pause, end the conversation and verify the request through a separate channel. In the age of generative AI, urgency itself may be the most reliable warning sign.

JBizNews Desk | Washington

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FIFA unveiled plans Tuesday to create a new commercial subsidiary valued at approximately $20 billion, opening the door for private investors to acquire minority stakes in one of the world’s most valuable sports businesses. The proposal, announced by soccer’s global governing body, would mark the first time FIFA has invited outside capital into the commercial engine that powers the FIFA World Cup and its other premier competitions.

At the center of the transaction is FIFA Forward Enterprise (FFE), a newly formed company that would house FIFA’s commercial rights and event operations. FIFA is seeking to raise up to $4.2 billion while maintaining majority ownership and complete control over the governance of international soccer.

Leading the transaction is JPMorgan, which has been retained as financial adviser, while Joshua Kushner’s Thrive Eternal is expected to serve as the lead investor. Former Liberty Media CEO Greg Maffei helped shape the proposed structure, underscoring the growing role of American financial firms in the business of global sports.

Rather than selling ownership of the sport itself, FIFA says the new company would manage the commercial side of its business, including global broadcasting rights, sponsorship agreements, ticketing, licensing, hospitality, and tournament operations for events such as the FIFA World Cup, Women’s World Cup, and Club World Cup.

FIFA stressed that investors would receive minority, non-controlling interests. The organization would continue to oversee every sporting and regulatory decision, including tournament rules, scheduling, competition formats, and governance, while retaining majority representation on the company’s board.

One of the proposal’s biggest selling points is additional funding for national soccer associations. FIFA says proceeds from the capital raise would help launch a voluntary development initiative allowing each of its 211 member federations to access up to $20 million for projects such as stadium improvements, training facilities, youth academies, and other long-term infrastructure investments.

The timing reflects the financial momentum created by the recently completed 2026 FIFA World Cup, hosted across the United States, Canada, and Mexico. FIFA reported record tournament revenues, while growing television audiences and sponsorship demand—particularly in the United States—have significantly increased the value of future broadcasting and commercial rights.

For investors, the attraction extends well beyond one tournament. Long-term ownership in FIFA’s commercial business provides exposure to recurring revenue generated by global media rights, worldwide sponsorships, licensing agreements, hospitality, and future World Cups that continue to attract billions of viewers around the globe.

Not everyone is convinced the plan serves the sport’s long-term interests. UEFA, European soccer’s governing body, quickly voiced concerns about introducing private investment into FIFA’s commercial operations, questioning the proposal’s transparency and warning that football’s global governance should not become tied to outside financial interests.

Several reports also indicate some FIFA Council members were surprised by the announcement, suggesting additional discussions and approvals will be required before the proposal can move forward. FIFA has not announced a timetable for a formal vote, and the restructuring must still receive approval from both its member associations and governing bodies.

For JPMorgan, the mandate represents one of the largest sports-finance assignments ever undertaken. For Thrive Eternal, it expands a strategy focused on acquiring long-term stakes in iconic sports and cultural assets rather than pursuing traditional private equity exits.

Businesses should pay close attention because the transaction signals a broader shift in how major sports organizations may finance future growth. As media rights become increasingly valuable and institutional investors search for stable, long-duration assets, governing bodies could look beyond sponsorships and broadcasting agreements to unlock capital while retaining operational control.

If approved, FIFA’s proposal could reshape not only the economics of international soccer but also the future relationship between global sports organizations and private capital.

JBizNews Desk | New York

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SANTA CLARA, Calif. — Intel’s latest quarterly results reinforced a growing message from investors: simply spending billions on artificial intelligence is no longer enough to impress Wall Street. While the chipmaker delivered stronger-than-expected revenue and offered an improved outlook, its shares fell sharply as investors questioned how long it will take for those investments to generate meaningful returns.

Intel reported quarterly revenue that exceeded analyst expectations and raised its forecast for the current quarter, supported by improving demand for data-center chips and personal computers. Management also highlighted progress in its manufacturing turnaround and foundry business as the company continues investing heavily to regain technology leadership.

Despite the stronger financial results, investors focused on the scale of Intel’s capital spending and the long timeline required before those investments are expected to translate into higher profits. The reaction mirrors a broader shift across the technology sector, where markets are becoming increasingly selective about companies pouring billions into AI infrastructure without providing a clear path to stronger earnings.

For businesses, Intel’s results are another reminder that demand for AI computing remains strong, but corporate customers are becoming more disciplined about technology spending. Companies continue investing in AI, cloud computing and advanced chips, yet investors increasingly expect those projects to deliver measurable returns rather than long-term promises.

The results also highlight the competitive pressure facing Intel as rivals continue expanding in AI processors and data-center hardware. Maintaining market share while funding one of the industry’s largest manufacturing expansion plans remains one of the company’s biggest challenges.

Intel said it expects demand for AI-enabled computing and advanced semiconductor manufacturing to remain strong through the second half of the year, while continuing to prioritize execution of its long-term turnaround strategy.

JBizNews Desk | Wall Street

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NEW YORK, July 23, 2026 — Wall Street closed sharply lower Thursday after investors were hit with two concerns at once: rising oil prices and growing questions about whether the technology industry’s massive investment in artificial intelligence will generate the returns markets have been expecting. 

The Dow Jones Industrial Average fell 506.93 points (0.97%) to 51,711.65. The S&P 500 dropped 90.66 points (1.21%) to 7,408.30, while the Nasdaq Composite led the decline, losing 553.21 points (2.15%) to 25,137.69. It marked Wall Street’s weakest session in roughly a month. 

The market’s biggest drag came from technology. Although Alphabet and Tesla remained profitable, investors focused less on earnings and more on the enormous amount of money both companies continue pouring into artificial intelligence. That shift reflects a broader change taking place on Wall Street. Investors are no longer rewarding AI spending simply because it is tied to artificial intelligence—they increasingly want proof those investments will generate meaningful returns. 

At the same time, energy markets added another layer of uncertainty. Brent crude briefly climbed above $100 a barrel, fueled by renewed concerns over Middle East tensions and the potential impact on global oil supplies. Higher oil prices raise transportation and manufacturing costs and can eventually affect everything from airline tickets to groceries, while also complicating the Federal Reserve’s fight against inflation. 

Bond yields also moved higher as investors adjusted expectations ahead of next week’s Federal Reserve meeting. Higher yields generally increase borrowing costs for businesses and consumers, adding pressure on stock valuations, particularly for fast-growing technology companies that depend on future earnings. 

The day’s trading reflected more than a disappointing session for stocks.

It showed that investors are becoming more selective. Companies are expected not only to lead in artificial intelligence, but also to demonstrate that those investments can produce sustainable profits while navigating higher energy prices and a more expensive borrowing environment.

For businesses and consumers alike, those same forces influence the cost of capital, hiring decisions, investment plans and, ultimately, the broader economy.

JBizNews Desk | Wall Street

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National Security Minister Itamar Ben-Gvir (Otzma Yehudit) ascended the Temple Mount on Thursday alongside Jewish worshipers marking Tisha B’Av, saying that Jews praying there felt that they were “the rightful owners” of the holy site.

Ben-Gvir made the trip alongside Development of the Negev and Galilee Minister Yitzhak Wasserlauf, who is also a member of Oztma Yehudit.

The far-right minister’s visit came as crowds of Jewish worshipers ascended the site during the Jewish day of mourning commemorating the destruction of the First and Second Temples.

At the site, Ben-Gvir said that they were “ witnessing tremendous progress on the Temple Mount.” He was also pictured carrying a prayer book and worshiping there.

The status quo on the Temple Mount, established after 1967, allows Israel to oversee security while the Jordanian-backed Islamic Waqf administers the site.

 Non-Muslims, including Jews, may visit during limited hours, but are strictly prohibited from praying there.

“Look at what’s happening here. Jews are praying and feel that they are the rightful owners of this place,” Ben-Gvir said at the site.

“That was never the case before. The same is true in more and more places. We have reduced terrorist attacks by 85%.”

“Everywhere, people understand that the State of Israel is the sovereign here. There is still more to do, and with God’s help, we will continue to move forward,” he added.

Ben-Gvir claims Temple Mount status quo no longer exists

Ben-Gvir has frequently visited the Temple Mount during Jewish holidays and has stated in the past that the status quo there no longer exists.

He also visited the site during Tisha B’Av last year.

The Prime Minister’s Office has, in the past, clarified that Israel’s policy on the Temple Mount has not changed after the visits, though such an announcement was not immediately made on Thursday.

Ben-Gvir’s visits have consistently drawn international condemnation and criticism from regional figures.

In April, Ben-Gvir visited the Temple Mount, where he said he felt like the “owner” of the site and stated that he would continue pressing Prime Minister Benjamin Netanyahu to expand access for Jewish worshipers.

Foreign Affairs Ministry condemns Ben-Gvir’s Temple Mount visit

In response to Ben-Gvir’s visit on Thursday, the Foreign Affairs Ministry strongly condemned his trip to the Temple Mount, as well as those of other Jewish worshipers, saying they violated the longstanding status quo at the holy site.

The ministry stated that the visit and actions taken there were a “flagrant violation of the prevailing historical and legal status quo at the Noble Sanctuary, a desecration of the sanctity of the mosque, a condemned escalation, a barbaric act, and unacceptable provocation.”

MK Gilad Kariv (Democrats) also condemned Ben-Gvir’s visit to the site, calling him and his far-right Party “the heirs of the zealots who led to the destruction of Jerusalem.”

“Now, they are doing everything they can to push us toward an explosion on the Temple Mount,” he added.

Kariv said that he had sent out a “strongly worded warning letter” to the prime minister over a year ago regarding Ben-Gvir’s visits, but had received no response.

Kariv also noted that the “direct responsibility lies with Netanyahu, who, on this issue as well, will not be able to claim that he didn’t know or that he received no warnings.”

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Coca-Cola is laying the groundwork for what could become one of India’s largest consumer-sector stock offerings after appointing JPMorgan Chase and Citigroup to advise on a potential public listing of its India bottling business, according to Reuters, which cited people familiar with the matter in a report published Monday. If pursued, the offering would underscore India’s growing importance to multinational consumer companies and provide another major test of investor appetite for the country’s expanding consumer economy.

The proposed listing would involve Hindustan Coca-Cola Beverages, the company’s largest bottling operation in India. While no final decision has been made, the report said an initial public offering could be considered as early as 2027, depending on market conditions and corporate approvals.

For Coca-Cola, the potential transaction is about more than raising capital.

India has emerged as one of the beverage company’s fastest-growing markets, fueled by rising disposable incomes, rapid urbanization and increasing demand for branded consumer products. A separate listing would allow investors to more directly value the business while giving the company additional financial flexibility to expand manufacturing, distribution and logistics throughout the country.

The move also reflects a broader strategy adopted by multinational corporations that are unlocking value by spinning off or partially listing high-growth regional operations.

Rather than keeping rapidly expanding businesses buried within larger global organizations, companies are increasingly giving investors a clearer way to participate in growth markets where consumer demand continues to outpace developed economies.

India has become a focal point for that strategy.

The country is attracting record levels of foreign investment as global companies diversify manufacturing, strengthen supply chains and pursue long-term growth opportunities beyond North America and Europe. Consumer goods companies, automakers, technology firms and retailers have all announced significant investments across the country in recent years.

A public offering could also benefit businesses throughout Coca-Cola’s supply chain.

Packaging manufacturers, transportation providers, refrigeration equipment suppliers, agricultural producers and retail distributors all stand to gain as beverage production and distribution continue expanding to meet rising demand.

For investors, the transaction would offer exposure to one of the world’s fastest-growing consumer markets through a globally recognized brand with an established distribution network.

India’s equity markets have also become increasingly attractive for multinational companies seeking capital, supported by strong domestic investor participation and continued economic growth.

Although Coca-Cola has not publicly confirmed plans to proceed with an IPO, Monday’s report highlights how global corporations continue repositioning assets to capitalize on favorable demographics and growing consumer spending in emerging markets.

For the broader business community, the development reinforces India’s expanding role as a destination for corporate investment and demonstrates how multinational companies are adapting their structures to maximize long-term shareholder value while accelerating regional growth.

JBizNews Desk | New York

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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.

JBizNews Desk
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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.

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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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On:

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
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