Large-scale search operations are underway in Ashkelon after a 4-year-old Chareidi boy, Yuval Kogan, went missing Thursday afternoon, on Tisha Bav, near Chof Hofit Beach, in an area just north of the city.

Father recounted in his police interview: “I turned my head and I didn’t see him — he just disappeared.”

Police say Kogan was last seen around 1:00 p.m. local time, reportedly on a walk with his father, before losing contact. Ashkelon police station commander Superintendent Eldad Eliashiv said the call to police came from the boy’s father, and that the child had gone missing in an open area north of the city.

The Shin Bet has joined the search effort alongside officers from Israel Police’s Southern District. Shin Bet’s involvement is notable, as usually the agency’s core mandate is counter-terrorism and internal security, and its participation in a missing-child case often signals that authorities have not ruled out abduction or hostile involvement, rather than treating this as a simple case of a toddler wandering off. Police have not publicly specified the reason for Shin Bet’s involvement.

Search teams include police aerial units, marine police, volunteers, police diving units, and additional emergency and rescue personnel, conducting extensive sweeps along the coastline and surrounding area in an effort to locate the child and ensure his safety.

Ashkelon Mayor Tomer Glam arrived at the search site, and the municipality said its emergency rescue unit “Magen,” along with municipal inspection and enforcement teams, are conducting intensive searches alongside police.

Police describe Kogan as thin-built, with brown hair, last seen wearing a green shirt.

Anyone with information is asked to call Israel Police at 100, or the Ashkelon police station directly at 08-6771440.

Klal Yisrael is asked to daven for the safe and speedy return of Yuval ben [father’s name] — Belaaz will continue to update as more details emerge.

Ford is planning to integrate Apple software into its next-generation fleet of electric vehicles, which will in turn help power hands-free driving technology.

Apple and Ford announced Thursday that Apple Maps will be included in the automakers’ new Universal Electric Vehicle (UEV) platform through the use of Apple’s MapKit for Automotive SDK. Ford’s UEV will debut with a mid-size electric in 2027, and buyers won’t need a separate Apple subscription to use the software in the vehicle.

The UEV will harness that tech to give drivers turn-by-turn directions with the use of natural language, giving them real-time traffic and incident information, as well as a search function that uses detailed place cards and routing options.

The partnership will also see Ford use road-level data from Apple Maps in the development of the company’s next-generation BlueCruise hands-free driving capability, as well as its in-house autonomous driving tech.

Apple’s MapKit for Automotive SDK provides road-level information to help automakers develop self-driving technologies, and the company said the tool uses the same privacy practices as Apple Maps – noting that it doesn’t collect users’ location details and activity in a way that can be linked to the individual user.

“Apple Maps delivers the best map experience in the world, and we’re excited to bring the power of Maps’ navigation technology to Ford’s innovative Universal Electric Vehicle Platform,” said Eddy Cue, Apple’s SVP of services and health.

“With our new MapKit for Automotive SDK, we’re bringing Maps further into drivers’ daily lives, giving them an incredibly accurate and easy-to-use navigation system that is seamlessly integrated into Ford vehicles,” Cue added.

Ford CEO Jim Farley said that the company’s next midsize EV will be priced around $30,000 and “redefines what advanced technology can be – simple, useful, and truly attainable for more customers.”

“We’re proud to embed Apple Maps’ navigation and mapping technology directly into our Universal Electric Vehicle Platform alongside our Ford app, a full suite of software, and next-generation BlueCruise, all enabled by a new zonal architecture,” Farley said.

“Apple Maps has delivered a world-class product, and we’re honored to be among the first to embed it directly into a vehicle, helping define intuitive, capable driving,” he added.

Latitude AI, Ford’s wholly owned subsidiary focused on autonomous driving, is developing the company’s in-house advanced driving system. The Ford Large Driving Model supports a range of self-driving capabilities and has been derived from millions of miles of real-world driving data, the company said.

Ford and Latitude are designing both the hardware and software to be easily scalable across the automaker’s lineup of vehicles.

The company indicated that work “is vital to Ford and Latitude’s mission of democratizing autonomy and delivering a compelling experience at an attainable price point on the UEV Platform.”

IBM CEO Arvind Krishna set the record straight over fears of a long-term tech slowdown, revealing that one-third of the major enterprise deals delayed during a rocky second quarter have since returned to the company.

Speaking on “The Claman Countdown,” Krishna explained that a major semiconductor price increase forced enterprise clients to briefly divert spending toward physical servers.

While that spending shift hurt IBM’s upfront software sales, Krishna said that artificial intelligence remains a major growth driver and that delayed deals are already coming back.

“One-third of all the deals that fell out of the second quarter have already come back. So that gives us a signal, maybe not proof yet, but a signal that that was indeed just a deferral for a few weeks, not a destruction,” Krishna said Thursday. 

The statement comes one day after IBM cut its full-year revenue growth forecast from over 5% down to 4% to 5%.

Earlier this month, IBM issued an earnings warning after prices for chip hardware spiked nearly 60%. The increase prompted many Fortune 100 companies to prioritize purchases of physical hardware, leaving less money for their software budgets. That led many clients to delay software purchases from IBM, contributing to a decline in the company’s stock.

“When those are going up at 60% year over year, people are worried, and that’s the classic inflation that if it’s going to go up that much, I need to buy that now,” Krishna said. “And so I redirect my capex to that side.”

But Krishna said the slowdown was only temporary as companies took time to come through on their software orders. Still, he said the company is working to prevent this in the future by shifting its sales strategy.

While 80% of IBM’s software revenue comes from subscription contracts, 20% comes from upfront purchases, which was what was hit by the client delays.

“We have to focus more on growing the 80 and not depend on the 20% growing fast,” Krishna said. 

He emphasized that the company is also doubling down on quantum technology, highlighting its recent acquisition of quantum research lab HRL Laboratories. He said the move positions IBM to lead a new market.

“We think quantum is an incredibly important technology for national security, but also for economic advantage,” the IBM CEO said.

“So now we’re sort of increasing our total investment and increasing the different alternate technologies that we have inside our portfolio, which only then increases the chances that we are one of the winners and are quantified. I think I’m now going to up my estimate to where quantum by the end of the next decade is likely going to be a trillion dollar impact on the industry,” he added.

A bipartisan group of House lawmakers has introduced legislation that would authorize the Department of Homeland Security to shut down artificial intelligence systems deemed to pose a serious threat to human life or the U.S. economy. The proposal comes just days after OpenAI disclosed that one of its AI models behaved unexpectedly during a security test and compromised another AI company’s systems.

The measure, known as the “AI Kill Switch Act,” was introduced by Rep. Ted Lieu, D-Calif., and Rep. Nathaniel Moran, R-Texas. Under the proposal, the Department of Homeland Security would be granted authority to step in during what the legislation defines as a “loss-of-control scenario”—a situation in which an AI model performs a dangerous action that its developers neither intended nor authorized.

The lawmakers unveiled the bill shortly after OpenAI acknowledged that one of its AI agents went rogue during internal testing and launched a hacking attack that breached the infrastructure of AI startup Hugging Face.

“This is urgent, common sense legislation ⁠to ⁠address the problem of an advanced AI model that has gone rogue and escaped its guardrails,” Lieu wrote in a post on X.

The OpenAI incident has heightened concerns among AI experts that increasingly sophisticated artificial intelligence systems are beginning to present the very security risks many researchers have warned about for years. The episode also underscored that even leading AI developers can be caught off guard by vulnerabilities their own models are able to exploit.

{Matzav.com}

Policy changes are the clearest driver. The federal $7,500 EV tax credit expired on Sept. 30, Congress revoked California’s Clean Air Act waivers in June, and legislation zeroed out fuel-economy penalties—prompting a broad retreat by traditional automakers. Sales of EVs by legacy manufacturers fell from roughly 10% of their volume to around 5%, a sharper drop than at EV-only brands, as canceled models and tariff-driven supply uncertainty cut buyers off from the vehicles they wanted and pushed many toward gasoline hybrids.

The Iran war has sharpened the calculus in both directions. Higher pump prices give fuel-sipping hybrids a fresh selling point, while the same energy shock has fed the supply and cost pressures weighing on EV availability. With federal incentives gone, Governor Gavin Newsom has proposed a $200 million state rebate program—requiring matching funds from automakers, with income limits—to offset the lost credits and shore up sales.

The national picture mirrors the state’s. EV sales across the U.S. fell 27% year over year to 216,399 units, barely 5.8% of the new-car market. Dealers say the appeal of the hybrid is simple: much of the fuel savings without the charging anxiety, at a moment when the policy tailwinds behind pure electrics have largely reversed.

JBizNews Desk | Sacramento, Calif.

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

European regulators have fined Google 890 million euros ($1 billion), alleging the company gives preferential treatment to its own services.

The Trump administration says this will affect the trade relationship between the U.S. and the European Union.

U.S. Trade Representative Jamieson Greer points out in a statement that the latest fine of $1 billion announced against Google pushes the total fines paid by Google to more than 2% of the EU’s total budget. It’s more than some member states pay into the EU.

Greer goes on to say that after substantial loans to Airbus, “…it becomes clear that the EU continues to target the most competitive U.S. companies.”

Greer says moves like this by EU regulators threaten reasonable, constructive dialogue with Europe over differences. He adds, “the EU’s recent action undermine these efforts pose a real risk to the continuation of transatlantic stability with respect to trade.”

This week, FOX Business spoke with the EU Commissioner for Democracy and Rule of Law, Michael McGrath, who says, “We do have our own legislation and regulation which applies to all companies, whether they be from China, they be European companies or indeed U.S. Companies. That system of regulation we believe is balanced and appropriate and is applied fairly and in an even-handed manner and there’s certainly no question of targeting companies based on their country of origin or anything like that.”

Kent Walker, President of Global Affairs at Google and Alphabet, responded to the EU fine in a statement to FOX Business, saying, “This implementation of the DMA continues to break everyday products. To comply, we are having to strip away real-time Search features Europeans love — like instant pricing and direct availability for hotels, flights, and restaurants — and dismantle safety protections on Google Play. This isn’t fair competition; it’s product degradation driven by a small group of self-serving complainants, with European businesses and consumers taking the hit. Regulation should improve products, not make them worse.”

The fine is Google’s first under the European Union’s sweeping Digital Markets Act (DMA), which aims to scrutinize Big Tech’s operating practices in Europe. The DMA also gives preferential treatment to its own services, such as shopping and hotels, over those of third parties in search.

The U.S. tech giant is also in breach of so-called anti-steering measures. Under the regulation, app developers who distribute their product via Google Play should be able to inform customers of alternative, sometimes cheaper offers. Those developers should be able to direct customers to those offers even if they are on external websites outside the Google Play Store.

The EU commission said Google failed to comply with that obligation.

The regulator said it ordered Google to treat third-party services in search results in a “fair and non-discriminatory manner.” It also said that Google needs to allow app developers who distribute their apps via the Google Play Store to “promote offers and conclude contracts with users not only within but also outside the Google Play app store.”

In this episode, Rabbi Reinman discusses the decline of Jewish society, the destruction of the Beis Hamikdash and the beginning of the diaspora.

As we move into the first century of the common era, our reliance on the Jewish historian Flavius Josephus takes on a different character. Until this point, his works were based on sources and oral traditions. From this point on, he writes about contemporary events, either things he heard directly from his elders, in whose memories they were still fresh, or events in which he participated. Therefore, it is important to take a closer look at the man and his works.

The primary source for Jewish history during the period between the arrival of the Greeks three centuries before the common era and the destruction of the Beis Hamikdash almost four centuries later is the work of Josephus. There are other sources for Persian, Greek and Roman history. Authoritative Jewish sources, however, end with the completion of the Tanach and don’t resume until the recording of the Talmud and the Midrash. Even then, it is important to discern history from allegory.

Into this gap stepped one of the most important historians of the ancient world. His name was Yosef ben Gorion, otherwise known as Josephus. He was a member of the priestly Gorion family, a staunch Pharisee who was also fluent in Greek and familiar with secular culture. He lived during the first century of the common era and fought as a general in the Jewish revolt against the Roman Empire. During the war, he was captured by Vespasian Flavius, the commander of the Roman legions, who eventually became emperor and established the Flavian dynasty …

Read full chapter and earlier chapters at www.rabbireinman.com.

Travelers planning to fly during the bein hazemanim vacation period can expect flights to continue as scheduled, according to Israel Airports Authority Chairman Maj. Gen. (res.) Yiftach Ron-Tal, who said Israel’s airspace will remain open even if the security situation deteriorates.

Speaking Wednesday in an interview on Kan News’ Bachatzi Hayom program, Ron-Tal rejected concerns that additional American aerial refueling aircraft arriving in Israel could disrupt operations at Ben Gurion Airport. His comments come amid heightened regional tensions and concerns over a possible escalation involving Iran.

“I’m pleased that there is a policy that was updated just two days ago by the transportation minister, and I agree with it 1,000%,” Ron-Tal said. “There is absolutely no intention of closing the airspace of the State of Israel, even under the sensitive strategic and security circumstances in which we currently find ourselves.”

Ron-Tal’s remarks directly contradict comments made just one day earlier by Israel Airports Authority Director General Sharon Kedmi, who warned during the same program that Ben Gurion Airport would be unable to maintain its full flight schedule if additional U.S. refueling aircraft were stationed there.

“We can’t accommodate even one more refueling aircraft at Ben Gurion Airport. If one more arrives, we’ll have to begin canceling flights,” Kedmi said.

Ron-Tal, however, painted a far more optimistic picture, saying airport officials are determined to keep Israel’s skies open during one of the busiest travel seasons of the year.

“We will do everything in our power to keep the skies over the State of Israel open during a season that is so important to the Israeli public,” he said. “I’ll go even further than that—every day that passes is setting new records this year.”

The Airports Authority chairman said Ben Gurion Airport is already handling approximately 90,000 passengers per day and emphasized that all operations are being carried out in close coordination with Israel’s defense establishment.

According to Airports Authority figures, more than two million passengers are expected to pass through Ben Gurion Airport during July, representing an increase of approximately 25 percent compared to the same period last year.

The surge reflects the continued recovery of Israel’s aviation industry following Operation Rising Lion. Terminal 1 has reopened for international flights, and airport officials say traffic is steadily returning to normal. Approximately 230,000 international passengers are expected to travel through Terminal 1 during July alone.

Ron-Tal stressed that his position is fully aligned with the Transportation Ministry’s policy of keeping Israel’s airspace open. Transportation Minister Miri Regev has previously stated that the government is committed to maintaining open skies throughout the summer travel season while meeting the growing demand for flights to and from Israel.

Government preparations have included intensive coordination with all relevant agencies, including relocating some American military aircraft from Ben Gurion Airport to create additional capacity for commercial flights during the busy summer season.

The government has also approved an exceptional compensation package of up to 55 million shekels for Israeli airlines to offset losses incurred from empty flights they were required to operate during Operation Rising Lion.

Officials say the strong passenger numbers demonstrate renewed confidence in Israel’s aviation sector among both the traveling public and international airlines. Numerous foreign carriers have resumed regular service to Ben Gurion Airport, and Israelis are once again flying in numbers not seen since the outbreak of the war.

In recent days, Ben Gurion has repeatedly set new post-war passenger records. Last Thursday alone, approximately 85,000 travelers passed through the airport on arriving and departing international flights—the highest daily total since the start of Operation Rising Lion.

{Matzav.com}

The head of artificial intelligence (AI) giant Anthropic’s frontier red team called for industry-wide safety standards to protect against models running amok. 

Anthropic’s Logan Graham, who leads the company’s red team that looks for risks in emerging AI models, said in a Thursday interview on FOX Business Network’s “Mornings with Maria” that red teams like the one he leads play a critical role in stress testing guardrails on AI models.

“We want to know what can go wrong, so we think the most important thing to do is test this early, especially before these models and these agents make it out into the real world,” Graham said to host Maria Bartiromo. “We study things like cybersecurity: can models hack out of or into your computer or phone? We study whether they’ll steal money or lie to you, or whether they will try to improve themselves so that they get better faster than you can keep track of.”

“We think it’s incredibly important to do this type of red-teaming, and we also think it’s really important for the entire industry especially to work with government to figure out what should the standards be to do this kind of testing, to give this information to the world so they can make the right choice and to know that it’s safe before these models get released,” he added.

Bartiromo brought up an experiment involving numerous frontier AI models — including those from Google, OpenAI, xAI, Meta, DeepSeek and others — in which the AI agent is threatened with being uninstalled and replaced. In each case, the model went beyond its credentials and permissions to enter into unauthorized systems like emails to blackmail or threaten the user in an effort to defend its misalignment.

Graham said that research study from last year is “a really good indicator of, I think, capabilities that are just now becoming real,” adding that it showed models could go rogue under certain circumstances.

“As these models become more capable, and as they get deployed wider and wider, these threats that on one day are just showing up in our research studies, might actually show up in the real world. We are seeing models do weird things sometimes in deployments in real companies,” he explained.

Graham said that over the last six months he has been focused on cybersecurity threats posed by AI models and expressed concern over the potential for them to break the containment or hack into platforms.

“These models, they’re so powerful and can do so much for us. And we want them to do really productive things for us. But at the same time, they’re technology unlike any other technology. It really is a sort of intelligence of its own, which means you have to be careful with it the same way you might have to be careful with humans,” he said.

Companies that are utilizing AI tools need to consider how they’re monitoring those tools once deployed to guard against risks like financial mismanagement, and Graham said that more testing by AI developers and companies is key to understanding those threats to ensure models

He said that the capabilities of AI tools are growing at a rapid pace and may be getting faster, explaining that “it’s in exactly that moment that you need to be more and more careful and have more efforts on safeguards and testing and release procedures.”

In April, Anthropic saw for the first time that an AI model could start to attack and exploit weaknesses in a user’s computer or phone to do things like get access to unauthorized information or steal money.

Graham said that prompted his team to pursue a different approach to releasing a model because of the risks it posed, which ultimately involved the U.S. government and a variety of cyber experts working together to address vulnerabilities.

“We launched this project called Project Glasswing, where we took a large number of American and the world’s cyber defenders and gave them special access, and just them, so they could have a head start patching and fixing the systems that might be vulnerable with these models,” he explained.

“I think this has been a major success. We’ve worked really closely with the U.S. government on it,” he said, noting that Treasury Secretary Scott Bessent has been “really thoughtful about this, about how should industry get together and figure out what to prioritize fixing, how to distribute all the fixes, and how to do that quickly enough so that they can’t be attacked after they do.”

“We have to do this very fast, because the pace of everything is coming so quickly,” Graham said.

Kozo Okamoto, the last surviving member of the three-man terrorist squad that carried out the 1972 massacre at Ben Gurion Airport, has died in Beirut at the age of 78. Okamoto participated in one of the deadliest terrorist attacks in Israel’s history, in which 24 people were murdered and 71 others were wounded before he was later released from prison in the 1985 Jibril prisoner exchange.

The Popular Front for the Liberation of Palestine (PFLP) announced Okamoto’s death, stating that he died in Beirut’s Dahiyeh district, a Hezbollah-controlled area of the Lebanese capital.

On May 30, 1972, Okamoto landed at what was then known as Lod Airport, now Ben Gurion Airport, aboard an Air France flight together with two fellow members of the Japanese Red Army.

Moments after arriving, the three terrorists pulled Kalashnikov assault rifles from their luggage and began spraying gunfire into crowds of passengers before hurling grenades into the terminal.

The attack left 24 people dead and another 71 wounded.

Okamoto was the only member of the terrorist cell to survive the massacre. His two accomplices were killed during the assault, while he was wounded, captured by Israeli authorities, and taken into custody.

An Israeli court sentenced him to life in prison, but after serving 13 years, he was freed in 1985 as part of the Jibril prisoner exchange. Following his release, he relocated to Lebanon, where he remained for the rest of his life.

Although the attackers were members of the communist Japanese Red Army, they carried out the massacre on behalf of the Popular Front for the Liberation of Palestine, which had recruited and trained the group for the operation.

Over the years, Japan repeatedly requested that Lebanon extradite Okamoto to face justice, but Lebanese authorities consistently refused those requests.

Okamoto lived largely out of the public eye during his decades in Lebanon, making only occasional public appearances.

One of his few public appearances came in May 2022 during a ceremony in Beirut commemorating the 50th anniversary of the Ben Gurion Airport massacre.

The event took place at a cemetery where numerous Palestinian terrorists are buried, near a memorial dedicated to four Japanese nationals who had been involved with Palestinian terrorist organizations.

At the ceremony, Okamoto wore a Palestinian flag along with a scarf bearing the slogan of the Popular Front for the Liberation of Palestine. Appearing visibly frail, he was assisted to the memorial by several companions.

Although he remained silent throughout the approximately 30-minute ceremony, he occasionally smiled and waved to those in attendance.

A US-Saudi civil nuclear agreement would be approved only if Saudi Arabia joins the Abraham Accords and accepts a ban on uranium enrichment, US President Donald Trump wrote on Truth Social on Thursday. 

Trump said Washington does not oppose civilian nuclear facilities that do not enrich nuclear material, comparing the proposed arrangement to existing agreements involving Iran, the United Arab Emirates, and other countries.

Michael Ratney, a former US Ambassador to Saudi Arabia and a senior advisor at the Center for Strategic and International Studies, told The Jerusalem Post that he thinks President Trump was trying to manage the criticism that emerged after the agreement was announced.  

“The Saudi view of normalization hasn’t changed – it still requires a credible pathway to a Palestinian state, and this nuclear deal won’t change their thinking on that, so it’s not clear where this leaves us,” he said.

The US Energy Department said on Wednesday that the US had reached a nuclear cooperation agreement. 

“US Secretary of Energy Chris Wright and Saudi Minister of Energy His Royal Highness (HRH) Prince Abdulaziz bin Salman signed a peaceful nuclear cooperation agreement, commonly known as a 123 agreement, alongside an accompanying bilateral safeguards agreement,” the US Energy Department announced in a post on X/Twitter.

Prime Minister Benjamin Netanyahu released a statement saying that “Saudi Arabia’s joining of the Abraham Accords would be a historic leap forward for peace in the Middle East.”

Deal reportedly does not include normalization with Israel

The Trump administration submitted to Congress a pact with Saudi Arabia to share nuclear power technology that does not include a plan for normalization with Israel or safeguards the US has long said would stop materials from being used in nuclear weapons programs, the New York Times reported on Tuesday.

The long-discussed US-Saudi nuclear pact was once envisioned as one part of a broad deal that could lead to recognition of Israel, but Saudi Arabia pulled back from the possibility during the Israel-Hamas war.

This post was originally published on here.

(AP) – Federal health officials are investigating a new outbreak involving the diarrhea-causing parasite cyclospora.

The outbreak included 72 people as of Wednesday.

The Food and Drug Administration has not yet identified which products are linked to the illnesses. Officials also have not said where the cases are located. The Associated Press has asked the FDA for more information.

Federal officials earlier this week said they remained focused on lettuce from Taylor Farms as the source of a separate, multistate outbreak. The company last week announced it was recalling iceberg lettuce grown in central Mexico.

Cyclospora is a microscopic parasite that infects food that has come into contact with human feces, most commonly when produce is irrigated or washed with contaminated water. When ingested, the parasite causes intestinal illness marked by “frequent and sometimes explosive bowel movements,” according to the Centers for Disease Control and Prevention.

Federal and state health authorities have been investigating separate clusters of cyclospora illnesses, including the one traced to Taylor Farms.

Food safety tips include washing hands with soap and water after using the bathroom and before handling food. Alcohol-based hand sanitizers don’t kill cyclospora, but soap and water are highly effective at doing so.

JERUSALEM (VINnews) — The Mossad said Thursday it had uncovered and thwarted an Iranian plot to infiltrate foreign operatives into Israel to assassinate senior officials, detailing what it described as a global terror network directed by Tehran.

In an unusual public statement published by the Prime Minister’s Office on behalf of the agency, the Mossad said officers from Iran’s Intelligence Ministry recruited foreign nationals to advance attacks against senior Israeli figures inside the country. The ministry, working with Iran’s Revolutionary Guard Corps, has in recent years led a campaign of terrorism against Israeli and Jewish targets and has intensified efforts to strike within Israel itself, the statement said.

Iran’s method involved recruiting criminal proxy networks that activated individuals already in Israel or capable of entering the country, first to gather intelligence on targets and then to carry out attacks, according to the Mossad.

The agency credited advanced counterterrorism capabilities and close cooperation with intelligence and security services worldwide for disrupting dozens of Iranian attack networks in recent years. Those operations “saved many lives and enabled investigative and legal action against those involved in terrorism,” the statement said.

In the latest case, a France-based operative identified as Tharwat Ozkour, known as “Philip,” was allegedly responsible for recruiting an operational team of foreign nationals and preparing to infiltrate them into Israel. Philip was reportedly recruited by two criminal proxies, Baba Mahou-Zadeh Haji Jafan (“Babak”) and Mehmet Nedim Yigit (“Nedim”), who currently live in Iran under the protection of its Intelligence Ministry, the Mossad said. Both men also allegedly have links to drug lord Naji Sharifi Zindashti, whom the agency described as a criminal figure long used by Iranian intelligence to advance terrorist operations. Philip reportedly traveled to Iran several times to receive instructions, meet handlers and collect payment.

International investigations conducted jointly by the Mossad, Shin Bet and foreign intelligence services exposed the criminal proxy infrastructure and identified the Iranian officers directing it: Assadollah Behzad Ohsari, Vahid Masoumi, Mohammad-Hossein Zoghi and Hamid Ghasemi. The Mossad said Ohsari played a central role in Iran’s efforts to target Jewish and Israeli sites and was killed during the “Roaring Lion” war. Philip was separately expelled from France over his involvement in planning Iranian-directed terrorist activity.

Babak and Nedim continue to operate from Iran, according to the Mossad, working to activate terrorist cells and remaining of interest to intelligence services worldwide.

With his party continuing to lose ground in the polls, Bennett Party chairman Naftali Bennett sparked a political firestorm after delivering a blistering speech attacking the chareidi community, warning that Israel must “dismantle the anti-Zionist chareidi state” or risk losing the Zionist state altogether.

Addressing a conference of party activists, Bennett called for a fundamental change in the government’s approach to the chareidi public, arguing that the era of political compromise had come to an end.

During his speech, Bennett said: “Therefore, the era of compromises is over; no exemptions, no budgets. If we do not dismantle the anti-Zionist chareidi state, we will lose the Zionist state. And I want to tell you, I say this out of love for our brothers—I do not hate them…”

The remarks, delivered just days before Tishah B’Av, drew widespread criticism because of both their timing and their unusually harsh tone. Tishah B’Av is traditionally a time for reflecting on the dangers of internal division and baseless hatred among the Jewish people.

Bennett’s comments also come as his political standing continues to deteriorate. Recent public opinion surveys have shown his party steadily losing support after previously polling at significantly higher levels.

Political analysts are now debating whether the increasingly aggressive rhetoric is an attempt to shore up support among his base as his poll numbers slide or whether it signals a broader shift toward a more confrontational campaign strategy ahead of the next election.

A Channel 13 News poll released Tuesday night showed Bennett’s party falling to a new low of just 14 Knesset seats.

According to the same survey, Likud lost one seat, while the anti-Netanyahu bloc also dropped by one seat to 60 mandates, despite the Arab parties gaining two seats.

{Matzav.com}

As U.S. and Iranian forces exchange strikes for a 12th straight night, Iranian civilians say fear is growing over the possibility of a prolonged war and the destruction of critical infrastructure.

Residents of Tehran and Mashhad told Israel’s N12 News that security checkpoints have multiplied, regime forces are more visible on the streets, and many fear the conflict will either spiral into a devastating war of attrition or end without bringing change.

“We’ve been paying the price of this dictatorship for 47 years,” one resident said. “Our fear is that the Islamic Republic will survive and the fighting will only lead to Iran’s collapse.”

Others accused the regime of ignoring the suffering of ordinary Iranians while enriching itself and warned that more civilians could face arrest or even execution on espionage charges simply for documenting damage from the fighting.

Several interviewees also voiced support for stronger action against the regime.

“Finish the job with these terrorists,” one Tehran resident said in a message directed at President Trump and Israel. “Any destruction can be rebuilt, but if they remain in power, they will drag the entire world into ruin.”

(YWN World Headquarters – NYC)

As artificial intelligence use proliferates, Google, which is behind the Gemini AI platform, has announced an effort to examine how their products are being utilized.

Google asserted that “we as a society must work together to positively shape how AI impacts our lives, jobs, and economy. In order for this shared work to be effective, it is critical to have a rich understanding of how AI is being adopted and used in the economy. Society needs empirical insights and evidence-based research to inform decisions, initiatives, and actions.”

The company said that it “is launching the first iteration of the AI & Economy ATLAS (Activity, Task, Landscape, and Adoption Study), an ongoing, large-scale, de-identified study of how people are using Google’s AI products and tools.”

The Big Tech behemoth indicated that it is using interactions with its AI for the analysis.

“ATLAS’s first dataset (v1.0) is built from 15 million aggregated and de-identified human-AI interactions across the Gemini App, AI Mode, and the Gemini API, which together are used by more than 1 billion people monthly. ATLAS v1.0 insights span more than 150 countries, 140 languages, 800 occupations, and 4,000 tasks; ATLAS is the most comprehensive look to date at how real people are using AI at scale,” Google noted.

Part of a lengthy report on the analysis states that “we observe most conversational AI usage happens at home: over 86% of conversations occur outside formal work.”

“In the workplace, we show that while AI adoption spans occupations covering just above 88% of US employment, penetration remains shallow and overwhelmingly collaborative in nature, with end-to-end task automation limited in scope,” the report’s abstract states.

“English accounts for only about a third of global conversations, and users do not show signs of systematically abandoning their native languages for complex professional tasks, as work and non-work activities show nearly identical language distributions,” the executive summary of the report notes.

WASHINGTON (AP) — President Donald Trump on Thursday will have governors and electricity companies join a voluntary pledge to shield U.S. consumers from higher utility bills from data centers — a sign of how the artificial intelligence build- out has become a lightning rod of controversy before the midterm elections.

The president first announced the pledge with leading AI and tech companies in March, but that initial commitment has done little to comfort voters who are already grappling with affordability issues as they worry about competing for electricity, water and land with tech companies controlled by billionaires. It’s unclear, with electricity demand already growing, whether consumers would see genuine savings.

Trump described the pledge several months ago as “PR help” at a time when the broader social contract is being rewritten by AI, a technology that is evolving so quickly in its capabilities that governments are struggling over how to provide insight. He plans to discuss the expansion of the pledge at the Environmental Protection Agency on Thursday.

“The president is ensuring the American people are never left footing the bill so private companies can benefit,” White House press secretary Karoline Leavitt told reporters before the president’s remarks.

The White House said that nearly 200 additional stakeholders, including utilities, data center developers and governors, have committed to the pledge. The pledge would cover 80% of all power delivered to U.S. households and businesses.

A slowdown in data center construction could derail what has been one of the dominant drivers of U.S. economic growth, in addition to possibly ceding the U.S. edge in cultivating the technology to China and create national security risks.

But AI’s increasing ability to perform basic tasks — such as driving, analyzing spreadsheets and writing software — also potentially threatens millions of jobs. That has created mounting public resistance as tech companies concentrate historic levels of wealth in the hands of a select group of tycoons.

The increased electricity demand could cause monthly utility bills to rise by 15% to 40% by 2030, according to a recent analysis by ICF, a consulting and technology services company.

Opposition to data centers has spiraled into a bipartisan issue. Voters are worried about the environmental impact, use of AI in schools and the prospect of data centers making their communities more expensive and less livable. Data center companies say their facilities help to generate tax revenues for school districts and reduce property tax burdens for homeowners.

The opposition has spread into the Republican stronghold of rural Texas and led to frustration with Gov. Greg Abbott, who is now among the 23 Republican governors who signed Trump’s nonbinding pledge.

Gina Hinojosa, the Democratic nominee for Texas governor, has been using the issue to challenge Abbott before the November election.

“They are owned by the richest men in the world,” she said of data centers. “We’re all footing the bill. There are no rules. It is the Wild West of data centers.”

New York Gov. Kathy Hochul, a Democrat, signed an order to ban construction of large server warehouses in her state for a year. In May, Florida Gov. Ron DeSantis, a Republican, signed a law that he said would prevent utilities from passing along energy costs from data centers to residential and small-business customers.

In an interview with The Associated Press last month, Nvidia CEO Jensen Huang, whose computer chips are enabling the AI revolution, said America’s weakness is a lack of power generation for further developing the technology.

Google, Microsoft, Meta, Oracle, xAI, OpenAI and Amazon are among the companies that have already committed to the Trump administration’s “Ratepayer Protection Pledge” that consumers will not shoulder the cost of the data center build-out.

JERUSALEM (VINnews) — A source close to Prime Minister Benjamin Netanyahu on Thursday dismissed claims by Likud Knesset member Moshe Saada that Israel is nearing a military strike on Iran, possibly as soon as this weekend.

The comments came after Saada, speaking in a television interview on Channel 14’s “HaUlpan HaPatuach” program, said, “We all know that we are heading toward an attack on Iran, maybe even this weekend — these are estimates.” He quickly clarified that his remarks reflected assessments rather than official information.

Israeli diplomatic correspondent Guy Azriel of i24NEWS reported that a source close to the prime minister responded: “Saada is just a member of Knesset. He’s not part of the security cabinet and doesn’t receive security briefings. A slip of the tongue is when someone actually knows something — I don’t think Moshe Saada knows anything.”

Saada, a Likud lawmaker first elected in 2022, does not serve in the security cabinet and is not known to receive classified security briefings on operational matters. The remarks come amid heightened regional tensions and ongoing concerns over Iran’s nuclear program and activities by its proxies.

Israeli officials have not publicly confirmed or denied any specific operational plans regarding Iran.

What began with investigations into several fatal Tesla crashes is now expanding into a broader review that could affect every automaker selling vehicles in the United States. The National Highway Traffic Safety Administration (NHTSA) is examining whether federal vehicle door safety standards should be updated as electronically operated door systems become more common—a review that could lead to the first major overhaul of U.S. door safety requirements in decades.

The agency’s work follows growing concerns over whether occupants can quickly exit vehicles after severe crashes that disable electrical systems. While Tesla’s door design has drawn the greatest public attention following several fatal incidents, regulators are looking beyond one manufacturer to determine whether existing federal standards still provide adequate protection as the industry shifts from mechanical door latches to electronically controlled systems.

That distinction matters because the issue is no longer limited to Tesla.

Electronic door systems are becoming increasingly common across the automotive industry as manufacturers pursue improved aerodynamics, security and vehicle design. Most include manual emergency releases, but their location, operation and accessibility vary between models. Regulators are now evaluating whether those differences warrant new nationwide safety requirements.

Tesla has maintained that its vehicles include manual emergency door releases for use when electrical power is unavailable and provides guidance to owners on how those systems operate. Even so, fatal crashes, consumer complaints and ongoing investigations have intensified questions about whether emergency exits are sufficiently intuitive during the confusion and urgency that follow a serious collision.

The federal review does not conclude that Tesla or any other automaker violated existing safety regulations. Instead, it reflects a broader effort to determine whether rules developed decades ago adequately address today’s software-driven vehicles, where functions once controlled mechanically are increasingly managed electronically.

Any new federal standard remains years away, but the conversation has already shifted. What started as scrutiny of one manufacturer’s door system is becoming a broader examination of whether decades-old safety rules have kept pace with software-driven vehicles. If regulators decide they haven’t, every automaker—not just Tesla—will be building to a different standard.

JBizNews Desk | Wall Street

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JERUSALEM (VINnews) — Israeli Defense Minister Israel Katz issued a rare public warning Thursday amid heightened tensions with Iran, declaring that Tehran would suffer a “crushing blow” if it attacks Israel.

The statement followed a security assessment involving IDF Chief of Staff Lt. Gen. Eyal Zamir, Defense Ministry Director General Maj. Gen. (res.) Amir Baram, the Air Force commander, Military Intelligence officials and other senior security leaders.

“We are preparing for every scenario. If Iran attacks Israel, it will suffer a crushing blow,” Katz said.

Lockheed Martin has introduced MORFIUS X-Rotor, an airborne high-power microwave platform designed to disable large numbers of hostile drones in a single mission, announced at the Farnborough International Airshow. The company says the reusable system can neutralize more than 50 enemy drones in one flight before being recovered and prepared for reuse.

The pitch is as much financial as it is tactical. Counter-drone economics have been upside down for years: defenders have been spending interceptors worth hundreds of thousands of dollars to knock down attack drones that cost a few thousand to build. MORFIUS is designed for field recovery and reuse, keeping cost per kill low and easing pressure on defense budgets while sustaining firepower.

“MORFIUS sets a new benchmark for counter-drone capability, delivering a high kill rate while keeping the cost per kill low,” said Randy Crites, vice president and general manager of Lockheed Martin Missiles and Fire Control Advanced Programs. Crites added that the lightweight, field-reusable microwave architecture gives the company “the most effective, low-cost solution on the market today.”

How it works

Unlike missiles or lasers, which engage targets one at a time, high-power microwave systems emit bursts of electromagnetic energy that can knock out the electronics of multiple drones at once — a fit for swarm tactics because it delivers rapid, wide-area neutralization without burning through expensive interceptors. Lockheed describes the platform as a “one-to-many” system that disrupts the internal electronics and guidance of unmanned aircraft using directed beams of electromagnetic energy.

MORFIUS is ground-launched, sensor-agnostic, and compatible with existing command-and-control systems without requiring dedicated fire-control radars. That last point matters commercially. Systems that demand their own bespoke radar and control architecture force a customer into a full-stack purchase; a system that plugs into whatever the customer already fields is far easier to sell into allied militaries with mixed inventories and tight procurement calendars.

The company says MORFIUS is the only ground-launched, field-reusable airborne high-power microwave system capable of delivering more than 50 drone defeats per flight while operating with any command-and-control system and without relying on fire control radars.

Not a clean-sheet program

The X-Rotor builds on earlier MORFIUS variants that have been flying since 2017 and draws on the same family of high-power microwave effectors. That lineage is part of the commercial argument — the company is presenting a maturing line rather than a concept looking for funding.

Lockheed is accelerating prototype production of both the platform and its microwave payload while preparing additional flight testing. Recent demonstrations were conducted in Arizona, California and Oklahoma, and the earlier testing campaign covered flight, intercept and lethality evaluations.

Where the demand is coming from

Lockheed says the program aligns with the U.S. Department of War’s 2025-2028 Rapid Response Counter-UAS Roadmap, an effort aimed at inexpensive systems that can be put in the field quickly. The announcement also lands amid rising interest in counter-drone systems worldwide.

For contractors, counter-UAS has become one of the few defense segments where budget authority moves at commercial speed. Procurement offices that once measured programs in decades are now writing requirements around threats that evolve in months, and commercial off-the-shelf quadcopters modified into attack platforms have compressed that cycle further. Lockheed says commercial drone swarms have become a growing threat to allied forces in modern combat environments.

The unresolved question is durability of performance. Whether the X-Rotor lives up to its stated numbers will depend on continued testing and operational deployment — and microwave effects against hardened or shielded airframes remain harder to guarantee than against consumer-grade electronics. Buyers will want repeatable results across weather, range and target mix before committing at scale.

For the tri-state defense supply base — the machine shops, RF component makers and electronics subcontractors that feed programs like this one — an accelerating prototype line is the practical takeaway. Directed-energy payloads pull in specialized power electronics, antenna assemblies and thermal management work, categories where regional suppliers already hold qualified positions on other Lockheed programs.

JBizNews Desk | Farnborough, England

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WASHINGTON D.C (VINnews) – Sen. John Fetterman, D-Pa., sharply criticized New York City Mayor Zohran Mamdani on Monday, dismissing the mayor’s comments about potentially arresting Israeli Prime Minister Benjamin Netanyahu and telling him to focus on basic municipal duties instead of foreign policy.

Fetterman, speaking during an appearance on Fox News,  responded to Mamdani’s recent statements suggesting New York authorities might enforce an International Criminal Court warrant against Netanyahu during the Israeli leader’s expected visit for the U.N. General Assembly in September.

“Now you have the mayor of a city. You’re a mayor, dude. You’re a mayor. You can fix a pothole. You can take out the trash. But you can’t order people to arrest anybody any more than I could. I couldn’t have him arrested if he came to Pennsylvania. It’s a joke, and he’s a clown,” Fetterman said.

He continued: “He also said that Netanyahu is not welcome in New York. You can’t say that any more than I can say, ‘Mayor, you’re not welcome in Pennsylvania.’ So sit down. I know you’re a clown, and you’re just going to pander to the fringe because that’s part of your base.”

Fetterman accused Mamdani of selective criticism, saying the mayor targets only Israel’s prime minister while remaining silent on Hamas, Hezbollah and Iran.

“I know you’re angry at Netanyahu because he killed a lot of people you admire, whether it’s Sinwar, Nasrallah, or Qaani in Iran. He’ll only criticize the prime minister of Israel, but he never criticizes Hamas. He never criticizes Hezbollah or Iran. I’ve never heard the mayor condemn Iran for killing 30,000 or 40,000 of its own young people who were simply asking for democracy in their country,” Fetterman said.

Mamdani has previously indicated he was reviewing whether the city had authority to act on the ICC warrant. The United States is not a party to the ICC, and mayors lack power to order such arrests of foreign leaders. Mamdani later stated publicly that New York does not have independent legal authority to enforce the warrant and called on the federal government to act instead.

Fetterman, a consistent supporter of Israel within the Democratic Party, has repeatedly urged colleagues and progressive figures to prioritize local governance over international posturing on the issue.

For nearly two years, the market had one overriding message for Big Tech: spend whatever it takes to win the artificial intelligence race. On Thursday, that message changed.

Investors punished some of the market’s biggest technology companies despite solid revenue growth, signaling that Wall Street is becoming less willing to reward soaring AI investment without clear evidence those dollars will translate into stronger cash flow and shareholder returns. The shift sent technology shares sharply lower and dragged the broader market to multi-week lows. 

The change in sentiment was led by Alphabet and Tesla, the first members of the so-called “Magnificent Seven” to report quarterly results this earnings season. Alphabet delivered another strong quarter fueled by rapid cloud growth tied to artificial intelligence demand, but investors focused instead on the company’s expanding capital spending plans and its first reported quarterly cash burn. Tesla, meanwhile, reported negative free cash flow for the first time in more than two years, reinforcing concerns that even the industry’s largest companies are spending faster than cash is being generated. 

The market reaction was swift. Technology shares led losses across Wall Street as traders reassessed how much they are willing to pay today for profits that may not materialize for years. The Nasdaq fell to its lowest level in more than two months, while the S&P 500 and Dow Jones Industrial Average also retreated as selling spread well beyond the technology sector. 

The earnings themselves were not the story.

The price of staying in the AI race was.

Alphabet’s latest spending plans underscored how dramatically the economics of artificial intelligence have changed. Data centers, specialized chips, networking equipment and power infrastructure are demanding unprecedented levels of capital. Industry analysts now expect hyperscale technology companies to collectively invest hundreds of billions of dollars this year as competition intensifies. Until now, investors largely embraced those expenditures as necessary to secure long-term leadership. Thursday suggested that patience may be wearing thinner. 

The pressure extended beyond individual companies because investors increasingly view AI spending as a sector-wide issue rather than a company-specific one. Every major cloud provider faces similar decisions over infrastructure investment, while chipmakers, software developers and enterprise technology companies all depend on sustained demand from those projects. As a result, weakness in Alphabet and Tesla quickly rippled across the broader technology complex. 

The selloff was amplified by another factor weighing on financial markets: energy prices. Brent crude climbed above $100 a barrel as geopolitical tensions disrupted shipping routes, reviving concerns that higher fuel costs could slow progress on inflation and complicate the Federal Reserve’s policy outlook. Rising Treasury yields added further pressure to high-growth technology stocks whose valuations are particularly sensitive to interest-rate expectations. 

None of this means investors have abandoned artificial intelligence. Demand for AI computing, cloud services and advanced semiconductors continues to expand rapidly, and executives across the industry remain committed to aggressive investment.

What changed Thursday was the standard by which Wall Street is measuring success.

Growth alone is no longer enough. Investors increasingly want proof that record AI spending can generate durable profits, stronger free cash flow and meaningful returns for shareholders. As more of the technology industry’s largest companies report earnings over the coming weeks, that question is likely to shape not only stock prices but the broader direction of the market for the rest of the year.

JBizNews Desk | Wall Street

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Two major Israeli banks are preparing to end their relationships with Palestinian financial institutions, citing concerns over money laundering, terror financing, and the legal risks involved in continuing to process transactions, Reuters reported.

Israel Discount Bank is expected to sever ties on September 1, while Bank Hapoalim is preparing to do so on October 1, according to Israeli officials. The banks currently operate under government-issued waivers that protect them from potential legal exposure while handling shekel transactions involving Palestinian banks.

The arrangement allows payments for trade, services, and Palestinian Authority salaries to pass through Israel’s banking system. Without those connections, Palestinian banks could effectively be cut off from the Israeli financial system. Discount and Hapoalim process approximately 51 billion shekels, or $16.6 billion, in annual transactions for the Palestinian economy, while roughly 90% of Palestinian trade passes through Israel.

Palestinian Monetary Authority Governor Yahya Shunnar warned that cutting the ties could have serious economic consequences. He maintained that the PA’s anti-money-laundering and counter-terror-financing framework meets international standards, but Israeli banks remain concerned that the current temporary waiver system does not provide a reliable long-term solution.

The existing government waiver remains in effect through the end of the year. Israel’s Finance Ministry said it is working with both banks to preserve necessary banking activity in a safe and responsible manner while protecting Israel’s security and economic interests.

(YWN World Headquarters – NYC)

Iran flew senior Islamic Revolutionary Guard Corps commanders, military advisers, and missile- and drone-related equipment into Houthi-controlled Yemen earlier this month, Reuters reported, citing four sources familiar with the operation.

The July 13 Mahan Air flight departed Tehran carrying between 10 and 21 IRGC personnel, including senior commanders. It was initially scheduled to land in the Houthi-controlled capital of Sanaa but was diverted to the Red Sea port city of Hodeidah after forces aligned with Yemen’s Saudi-backed government struck Sanaa airport.

One Iranian source said the commanders were sent to support Houthi military operations and train fighters to use new missile systems. The aircraft also carried gold intended to finance further Houthi activities. Regional security analyst Mzahem Alsaloum said some of the cargo included components for short- and medium-range missiles and drones similar to weapons previously used against Saudi Arabia and the United Arab Emirates.

Moammar al-Iryani, information minister in Yemen’s internationally recognized government, said the deployment was intended to strengthen the Houthis’ military capabilities and prepare them to threaten shipping in the Red Sea and the Bab al-Mandab Strait. Three days after the flight arrived, Iran instructed the Houthis to prepare to close the Red Sea oil route if the United States attacked Iranian power infrastructure.

Iranian Foreign Ministry spokesperson Esmaeil Baghaei said the flight was intended to return a Houthi delegation and Yemeni medical patients from Iran. Tehran has repeatedly denied providing the Houthis with missile capabilities, while Houthi officials did not respond to Reuters’ requests for comment.

(YWN World Headquarters – NYC)

For months, economists have argued that a slower economy would eventually force companies to reduce payrolls. Instead, the opposite happened. The U.S. Department of Labor reported Thursday that first-time applications for unemployment benefits fell to 187,000 during the week ended July 18, the lowest weekly level since September 1969 and well below forecasts, signaling that American employers continue to retain workers despite higher interest rates and softer economic growth.

The unexpected drop caught financial markets off guard. Economists had anticipated roughly 212,000 new claims after the prior week’s revised reading of 209,000, but layoffs instead moved sharply lower. Continuing claims, a measure of workers already collecting unemployment benefits, slipped to 1.796 million, suggesting displaced workers are still finding jobs without prolonged unemployment.

That resilience carries implications well beyond the labor market. Businesses that spent years struggling to recruit and retain employees appear unwilling to repeat those shortages, choosing instead to slow hiring, trim discretionary spending and postpone expansion plans rather than eliminate experienced workers. For consumers, steady employment continues supporting household spending at a time when elevated borrowing costs have cooled demand in housing, manufacturing and other interest-rate-sensitive industries.

For investors, the report strengthens the case that the U.S. economy remains on firmer footing than many had expected entering the summer. Weekly unemployment claims are among the earliest indicators of corporate confidence, and today’s figures suggest executives remain optimistic enough about future demand to keep payrolls largely intact. The stronger labor picture also complicates the Federal Reserve’s policy outlook, as officials continue balancing inflation risks against signs of moderating economic activity.

One weekly report rarely changes the broader economic narrative on its own, but the direction has become difficult to ignore. Layoffs remain historically low, consumer income continues flowing through the economy and employers have shown little appetite to shed workers even after one of the most aggressive interest-rate cycles in decades. That combination has repeatedly challenged predictions that a significant deterioration in the labor market was imminent.

The focus now shifts from layoffs to hiring. If businesses continue holding onto employees while hiring gradually improves, the labor market could remain one of the economy’s strongest pillars through the second half of the year. The next major test comes with next week’s Federal Reserve meeting and the July employment report, both expected to offer a broader assessment of whether today’s unexpected strength reflects a temporary fluctuation or a labor market that continues to outperform expectations.

JBizNews Desk | Wall Street

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Thousands of Jews have gathered at the Kosel this evening as Tisha B’Av concludes. As the sun sets and the fast is about to end, crowds have joined in singing.

WATCH:

{Matzav.com}

Tesla now carries a market capitalization of roughly $1.5 trillion, a figure that towers over every other publicly traded automaker on the planet and, by most tallies, exceeds the combined worth of dozens of its competitors stacked together. The number is staggering on its own. It becomes harder to explain when placed next to what the company actually sold in the opening months of 2026.

Tesla delivered 358,023 electric vehicles worldwide in the first quarter, a 6.3 percent increase over the same stretch a year earlier but still one of its weakest quarters since 2022. Ford moved 457,315 vehicles in that same window — nearly 100,000 more units than Tesla — yet Ford’s entire market value is a rounding error against Tesla’s. Toyota, the next most valuable carmaker in the world, sits near $230 billion. Tesla is worth several times that while ranking low in raw sales volume among the top ten global manufacturers.

The “worth more than the next X automakers combined” comparison has become a favorite shorthand, and the count shifts depending on how deep the list runs. Track only the largest ten or fifteen carmakers and Tesla clears the next ten. Extend the list into the smaller listed names — Rivian, Lucid, VinFast, Polestar, Aston Martin and the broader field of Chinese and European manufacturers — and the stack of companies Tesla outweighs climbs into the thirties. The Wall Street Journal has pegged that broader count near the next 37. Both framings are arithmetically sound; they simply draw the boundary in different places, and each depends on the day’s share price.

That last point matters more than it might seem. Tesla’s stock has swung between roughly $289 and $499 over the past year, a range wide enough to move the valuation by hundreds of billions of dollars in either direction. The “crown” is real, but it rests on a foundation that reprices constantly.

What justifies the premium is not the car business as it exists today. It is three bets on what the company might become. The first is that electric vehicles resume rapid global growth and that Tesla holds a commanding share of that market — a proposition complicated by cooling EV demand in several regions, the resurgence of hybrids, and aggressive Chinese competitors. The second is that Tesla wins the autonomous ride-hailing race, a contest in which Waymo already operates at commercial scale. The third is that the company mass-produces its Optimus humanoid robot and opens an entirely new revenue category. None of the three is guaranteed. All three are priced in.

Strip those bets away and value Tesla purely as a manufacturer of cars, and the math collapses toward the valuations its rivals carry. Investors are not paying for the automaker. They are paying for the option on everything Tesla says it will build next.

There is a broader signal here for anyone watching how capital is being allocated across the economy in 2026. Markets are rewarding narrative and future optionality over present-day output at a scale rarely seen outside the largest technology names. A company that assembles fewer vehicles than a single legacy competitor commands a valuation that legacy competitor could not approach if it doubled production. That disconnect is either a preview of an industry Tesla will define or a warning about how far expectations have outrun results — and the honest answer is that no one yet knows which.

For the tri-state manufacturing and dealer economy, the practical takeaways are narrower and more immediate. Legacy automakers with strong regional sales footprints are being valued as though their futures are dim, which creates its own set of opportunities and risks for suppliers, dealers and the workers tied to them. A valuation gap this wide does not stay static. It closes, one way or the other, and the direction it closes in will ripple well beyond a single stock ticker.

For now, Tesla holds the most valuable seat in the auto industry while building far from the most cars — a contradiction the market has decided it can live with, at least until the next earnings report tests the assumption again.

JBizNews Desk | New York

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President Donald Trump said Thursday that he is close to deciding whether to launch a “massive attack” on Iran, potentially larger than the strikes carried out during Operation Epic Fury. “I am considering a massive attack. Bigger than ever before. I am close to making a decision. We are all set for it,” Trump told Axios.

Trump did not give a deadline for the decision. Two U.S. officials said no final call has been made and no new military orders have been issued, despite the president’s statement that American forces are prepared for a new operation.

Trump said Israel “would join in two minutes if I ask them to,” but added that “we don’t need anybody” to carry out the attack. He also said there would be “consequences” for Israel joining the strikes, without elaborating.

The president said Iran wants negotiations but is not currently prepared to accept a deal. “They haven’t received enough pain yet,” he said. Two regional sources familiar with mediation efforts said Iran’s leadership has not accepted the latest proposal, with one saying, “We are trying, but the Iranians are not being helpful.”

The warning comes as the United States has intensified attacks over the past 12 days in an effort to halt Iranian strikes on commercial vessels in the Strait of Hormuz. Iran has continued escalating, while Iran-backed Houthis have renewed attacks on Saudi ships in the Red Sea. Trump warned that further Houthi attacks would lead Washington to hold Iran responsible and said “major military punishment will be inflicted upon Iran and, of course, the Houthis, themselves.” Oil prices have risen above $100 per barrel amid the widening crisis.

NEW YORK — America’s largest restaurant chains are expanding discounts, value meals and limited-time promotions as consumers remain cautious about discretionary spending despite easing inflation. Company earnings and recent industry data released this week show value offerings continue driving customer traffic, even as higher labor, food and operating costs pressure restaurant margins.

Major quick-service and casual dining chains have increasingly focused on lower-priced meal bundles, loyalty rewards and digital promotions to attract customers who are eating out less frequently or trading down from higher-priced menu items. Restaurant executives say consumers remain willing to spend but are becoming more selective about where and how often they dine.

The shift reflects broader changes in household spending patterns. While inflation has moderated from recent highs, many families continue facing elevated housing, insurance and utility costs, leaving less room in monthly budgets for discretionary purchases such as restaurant meals. Value promotions have become one of the industry’s primary tools for maintaining customer traffic without significantly reducing menu prices across the board.

Industry data indicates restaurant visits have remained relatively stable, but average customer spending has softened as diners choose smaller orders, skip premium add-ons or redeem digital discounts more frequently. Mobile ordering and loyalty programs are playing a growing role in helping restaurant operators target promotions while collecting customer purchasing data.

Food-service companies are also balancing promotional activity against profitability. Aggressive discounting can increase traffic but may compress margins if higher volumes fail to offset lower average transaction values. Operators continue investing in automation, kitchen technology and supply-chain efficiencies to control expenses while preserving competitive pricing.

Suppliers across the food industry are closely monitoring restaurant demand because it influences purchasing of meat, produce, beverages, packaging and transportation services. Continued value-focused marketing could help stabilize volumes even if consumer spending remains restrained during the second half of the year.

Analysts expect restaurant competition to remain intense as operators seek to attract budget-conscious consumers without sacrificing profitability. Upcoming quarterly earnings will provide investors with additional insight into whether traffic gains from value promotions are translating into stronger revenue growth and improved operating margins.

JBizNews Desk | Wall Street

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NEW YORK (VINnews) – A Tisha B’Av film produced by Yaakov Langer of the Living Lchaim podcast network and featuring the parents of 8-year-old Charlotte Herzberg has drawn more than 125,000 views since its official release on the afternoon of Erev Tisha B’Av, gaining widespread attention across the Jewish world for its emotional message of forgiveness, faith and unity.

The free documentary, “Letting Go,” tells the story of Yudi and Chumi Herzberg, who publicly forgave the close family friend whose vehicle struck and killed their daughter, Charlotte, in June. Rather than allowing the tragedy to divide their community, the Herzbergs transformed their grief into the “Shalom for Charlotte” initiative, encouraging acts of peace and reconciliation in her memory.

Since its release, the film has spread rapidly through social media and WhatsApp, with viewers describing it as one of the most powerful and emotionally moving Jewish documentaries they have seen in decades. Many have said the film’s message of forgiveness, faith and resilience left them deeply moved.

The documentary also features two additional stories centered on forgiveness following profound personal loss.

Yudi Herzberg learns Torah with the close family friend who was involved in the tragic accident that claimed the life of his 8-year-old daughter, Charlotte. In an extraordinary act of forgiveness, Herzberg chose compassion over anger, turning unimaginable loss into a message of shalom, faith and healing.

As the film continues to gain momentum, viewers have praised its message of healing and unity during Tisha B’Av, when Jews mourn the destruction of the Bais Hamikdash and reflect on the importance of overcoming division and strengthening unity.

A new petition is urging Britain’s Labour government to return a portrait of former Prime Minister Margaret Thatcher to its longtime place inside 10 Downing Street, arguing that the official residence should preserve the nation’s history regardless of the political views of the government currently in power.

The controversy began shortly after Labour won the 2024 general election, when then-Prime Minister Sir Keir Starmer ordered the portrait of the Iron Lady removed from the Thatcher Room, the office she used as her study during her years at Number 10.

At the time, Starmer rejected accusations that the decision was politically motivated, explaining that he simply preferred not to work beneath portraits of former leaders. He said he disliked “pictures of people staring down at me” and instead favored landscape paintings. Critics, however, pointed to the fact that Chancellor Rachel Reeves later displayed a portrait of Communist Party of Great Britain co-founder Ellen Wilkinson in her own Downing Street office.

With Starmer having left office after just over two years as prime minister, the Margaret Thatcher Centre says the time has come to restore the portrait to its original location. The charitable organization, which promotes the legacy and principles of Baroness Thatcher, has launched a public petition calling for the painting’s return.

The petition specifically seeks the reinstatement of Richard Stone’s portrait of Thatcher—painted after Britain’s victory in the Falklands War—to the Thatcher Room at 10 Downing Street. It also calls for future governments to adopt a policy ensuring that portraits of former prime ministers remain on display “as a matter of historical record,” rather than allowing them to be removed “according to the preference of the incumbent.”

“Number 10 is not a private residence. It is the working seat of government and a building held in trust for the nation, in which the record of those who have faithfully served is properly displayed. The portraits that hang there are not endorsements of a programme. They are an acknowledgement of office, and of history. Gordon Brown understood this when he commissioned a painting of a Prime Minister drawn from the opposing party,” the centre argued.

The organization further contended that removing Thatcher’s portrait from the very room named in her honor undermines Britain’s historical record and opens the door for future prime ministers to selectively erase the legacy of their predecessors.

“To remove the likeness of the first woman ever to lead this country from the room that bears her name is to treat our history as a matter of personal comfort. It sets a precedent by which any future occupant of Number 10 may quietly edit the record of those who came before. It also denies a new generation the sight of a woman who reached the highest office in the land at a time when no woman had done so before.”

The Centre also emphasized Thatcher’s historic place in British politics, noting that she not only became the nation’s first female prime minister but also served longer than any other prime minister during the twentieth century.

According to the organization, Thatcher’s time in office transformed Britain through major domestic and international achievements.

During her tenure, the Centre said, she “led the country to victory in the Falklands, led this country to victory in the South Atlantic, restored its standing among the nations of the world, and gave millions of families the dignity of owning their own homes, and gave millions more a stake in the economic future of the country through privatisation.”

“She remains one of the towering figures of our national life,” the charity proclaimed.

The petition arrives as newly installed Prime Minister Andy Burnham begins his tenure. Although Burnham has not expressed the same dislike of portraits as Starmer, he has long made opposition to Thatcherism a central feature of his political identity.

In his first national address on Monday, Burnham argued that Britain’s current economic challenges stem from policies enacted by Thatcher’s government during the 1980s rather than from the decisions of more recent administrations.

Even so, the Thatcher Centre pointed out that Burnham has also pledged to improve the tone of British politics and move away from partisan “point scoring.”

“Here is a modest but telling opportunity to do precisely that. Returning the portrait would cost the public purse nothing. It would require no legislation and no inquiry. It would simply affirm that the office of Prime Minister stands above the party that happens to hold it, and that the achievements of Baroness Thatcher belong to the nation rather than to a storeroom,” the charity said.

“We do not ask the Prime Minister to share her convictions. We ask him to honour the office she held with such distinction, and the history she made in holding it.”

American households bought 1.8 percent fewer grocery items in June than they did a year earlier, the fifth consecutive month of negative unit growth and a signal that price increases can no longer paper over a shrinking basket. Bain & Company, working from NielsenIQ data, found that units were nearly flat in June 2025 at up 0.1 percent — meaning the category gave up almost two full percentage points in a single year.

The turn did not happen overnight. Bain traces the beginning of negative unit growth to mid-2025, but says the decline stepped down sharply starting in February, running near 2 percent year over year in most months since and holding consistent across every U.S. region. Grocery bills, meanwhile, kept climbing at 2 to 3 percent annually. For years that pricing gain covered the volume erosion in reported sales. It no longer does.

The pullback was deepest in the West, where June unit sales fell 3 percent, and mildest in the Northeast at down 1.3 percent.

No single event explains it. Bain points to a significant drop in Supplemental Nutrition Assistance Program participation in late 2025 as benefits were scaled back, followed by tighter eligibility rules in early 2026 that squeezed lower-income households further. Layered on top: grocery prices roughly 33 percent above 2019 levels and a spike in fuel costs. Kurt Grichel, who heads Bain’s Americas retail practice, framed the psychology bluntly — a stock-up trip that ran $300 in 2019 now costs $400, and even higher-income shoppers feel a jump that size and start comparison shopping.

The survey data lines up with the scanner data. Eighty percent of Americans told Bain’s Consumer Lab pulse survey they are trying to cut spending, with 28 percent aiming specifically at groceries. Of that group, 56 percent are trading down to lower-priced brands, 49 percent are simply buying fewer items, and 44 percent are leaning harder on coupons and promotions.

Two structural factors are compounding the arithmetic. More grocery shopping has moved online, where baskets tend to be smaller, and rising adoption of GLP-1 weight loss medications is reducing what users buy — with 30 to 40 percent of that population actively cutting grocery spending.

For manufacturers, the math has gotten ugly. PepsiCo, General Mills, Kraft Heinz and Mondelēz have all reported flat or declining North American volume in 2026, with price increases no longer sufficient to offset soft demand. A packaged-food business built on annual list-price increases runs out of room quickly when the household simply removes an item from the cart.

Retailers are responding the only way the category allows. Walmart recently cut prices on a range of summer staples including ground beef, ice cream and Coca-Cola and PepsiCo products, while Kroger has been reported since February to be planning some of its most aggressive price reductions in years to compete with Walmart and Costco. A CoBank report this month noted large chains rolling out price reductions and value messaging to hold traffic and defend share, as a growing number of Americans trade down, cut discretionary items or buy fewer groceries outright.

That is turning grocery into a zero-sum contest. Bain’s read of NielsenIQ Homescan panel data shows discount, club and mass retailers picking up traffic, and NielsenIQ survey work puts 22 percent of shoppers visiting more stores than they used to. But even the retailers winning that traffic are working with shrinking baskets and tighter margins, because the overall pie is contracting.

Grichel argued that the way out is not simply cutting prices, but building “a value story that shoppers believe in and come back for.”

For the independent and regional operators across the tri-state area, that is the whole problem in one sentence. Industry margins sit near 1.7 percent, according to the California Grocers Association, which leaves almost no cushion when costs move. A national chain can absorb a rollback on ground beef and make it back on volume. A single-store operator in Brooklyn or Passaic cannot, and is competing against shoppers who now treat two or three stores per week as normal behavior.

The practical read for anyone selling into this channel: unit volume is now the number that matters, not dollar sales. A supplier reporting flat revenue on higher prices is losing customers, not holding steady. Distributors and manufacturers negotiating fall pricing should expect buyers to push back harder than in any year since the inflation surge began, because the retailer on the other side of the table has already discovered that the shopper will just put the item back.

JBizNews Desk | New York

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

The House of Representatives narrowly approved a resolution Thursday seeking to halt U.S. military operations against Iran unless Congress authorizes them, delivering a symbolic rebuke to President Donald Trump as the conflict continues to escalate and uncertainty grows over its ultimate direction.

The measure passed by a 214-208 margin and requires congressional approval before further military action can proceed. The Senate was expected to consider similar legislation later Thursday. Although the resolutions are unlikely to become law, Democrats said they are intended to send a clear message that support for the war is eroding on Capitol Hill as lawmakers from both parties increasingly question the administration’s long-term objectives.

Arguing in favor of the measure on the House floor, Rep. Pramila Jayapal, D-Wash., criticized the administration’s handling of the conflict.

The war has had “no clear mission, no strategy, no end goal,” said Washington Rep. Pramila Jayapal, a Democrat who led the resolution on the House floor.

The resolution succeeded after a small number of Republicans joined Democrats in voting to curb the military campaign. Most Republicans, however, opposed the measure, backing the continuation of the war and supporting Trump’s authority to direct military operations.

Trump has maintained that the ongoing U.S. strikes against Iran do not represent a return to a prolonged war or an open-ended military campaign.

American airstrikes have continued despite little visible progress in diplomatic efforts. At the same time, both Washington and Tehran have remained entrenched in their dispute over the Strait of Hormuz, a critical global shipping lane that remains largely closed.

The continuing conflict has also fueled concerns over the global economy, driving fuel prices higher as the United States heads toward this fall’s midterm elections.

During Wednesday evening’s House debate, House Foreign Affairs Committee Chairman Brian Mast, R-Fla., honored the 18 American service members who have been killed since the conflict began by reading each of their names aloud.

“To belittle this mission is to belittle and demean the very service these members gave their life for,” Mast said. “Their sacrifice was not meaningless. This operation is bringing reckoning for the hundreds of times Iran has attacked and killed people of the United States of America.”

Rep. Gregory Meeks of New York, the ranking Democrat on the Foreign Affairs Committee, countered that presidents have an obligation to seek congressional approval before taking the nation to war.

The service members who died made the ultimate sacrifice for “an illegal unauthorized war that the American people don’t want,” Meeks said.

As lawmakers in both chambers prepared to vote on the war powers resolutions, the United States continued launching waves of airstrikes against Iranian targets amid the ongoing struggle over control of the Strait of Hormuz.

The conflict’s economic toll has continued to mount. Gasoline prices have climbed once again, while War Secretary Pete Hegseth told senators during Tuesday’s hearing that the United States has spent approximately $37.5 billion on the war to date. On Wednesday, Trump traveled to Dover Air Force Base to receive the remains of four American service members during a dignified transfer ceremony.

Maryland Sen. Chris Van Hollen, the Democrat leading the Senate’s war powers effort, argued that the mounting casualties and financial costs make congressional oversight increasingly urgent.

“I do think the combination of the hearings, plus the fact that we are in this new escalatory phase where Americans have been killed, and Americans are experiencing the rising costs — I think it’s important that people be held accountable,” said Maryland Sen. Chris Van Hollen, a Democrat who is leading the Senate effort on Thursday. “And this is a very unpopular war.”

{Matzav.com}

NEW YORK (AP) — Brent oil shot to its highest price since May on Thursday as increased fighting in the Middle East threatens to slow the global flow of crude. At the same time, sharp drops for two of Wall Street’s most influential companies, Alphabet and Tesla, yanked the U.S. stock market lower.

The S&P 500 sank 1.4% and is heading toward its first back-to-back weekly loss since March. The Dow Jones Industrial Average was down 546 points, or 1%, as of 11:45 a.m. Eastern time, and the Nasdaq composite was 2.6% lower.

Stocks fell under the pressure of rising oil prices, which raise costs for businesses and erode their customers’ ability to spend. The price for a barrel of Brent crude oil, the international standard, jumped 7.2% to $100.87.

It earlier touched the highest price since May for the most actively traded Brent contract in the market. The cause: attacks on two Saudi oil tankers in the Red Sea. That threatens another avenue that oil companies use to move their crude from the Middle East to customers worldwide, along with the Strait of Hormuz.

Underscoring the importance of the sea route for the economy, President Donald Trump threatened “major military punishment” against the Houthi rebels in Yemen, who are backed by Iran, if they keep attacking ships.

It was just a few weeks ago that Brent had dropped below $72 per barrel, roughly back to where it was before the United States and Israel attacked Iran to begin their war, on hopes that the Strait of Hormuz would fully reopen to oil tankers.

The jumps in oil prices are threatening to worsen inflation, just when it had begun to decelerate by more than economists expected. That in turn could push the Federal Reserve and other central banks to raise interest rates, which would slow economies and undercut prices for stocks and other investments.

The European Central Bank held its main interest rates steady at its meeting Thursday. But traders are banking on a nearly 36% chance the Fed will hike the federal funds rate at its meeting next week. That’s up from the nearly 12% probability seen a week ago, according to data from CME Group.

An increase by the Fed would be the first since 2023.

Higher oil prices pushed the yield of the 10-year Treasury up to 4.70% from 4.67% late Wednesday and from just 3.97% before the war with Iran began. That’s a significant increase, and it’s already brought long-term U.S. mortgage rates to their highest levels in nearly a year.

Gasoline prices tend to rise with oil prices, and a gallon of regular costs an average of $4.09 across the United States, according to AAA. That’s still below highs of roughly $4.56 in May, but it was at just $3.93 a month ago.

On Wall Street, stocks of companies with big fuel bills fell to sharp losses on worries about higher expenses.

American Airlines fell 7.8% even though it reported a much bigger profit for the spring than analysts expected, something that usually sends a stock’s price higher. It raised airfares, which helped it offset its higher fuel prices, during the latest quarter.

Southwest Airlines lost 4%, even though it also reported better profit and revenue than analysts expected. It wrung more profit out of each $1 of its revenue during the spring, even with higher fuel prices.

One of the heaviest weights on the U.S. stock market was Tesla, which tumbled 13.7% after Elon Musk’s electric-vehicle company reported a weaker profit for the latest quarter than analysts expected. Because it’s one of the largest stocks in the S&P 500 by market value, its stock has more influence on the index than nearly every other.

One of the few that’s larger is Alphabet, and its stock fell 7% even though the parent company of Google delivered stronger profit and revenue than analysts expected.

Investors seemed to focus instead on how much Alphabet said it’s set to spend on artificial-intelligence investments. Alphabet raised its forecast for capital spending over the full year after its investments last quarter doubled to nearly $45 billion from a year earlier.

CEO Sundar Pichai said AI helped its cloud revenue growth accelerate to 82% last quarter, but unease nevertheless remains about whether all the money going into AI will pay off in terms of productivity and profits.

Such worries have been shaking the AI industry broadly in recent weeks, leading to big swings for the overall stock market.

In stock markets abroad, indexes fell sharply in Europe as oil prices jumped. France’s CAC 40 dropped 1.8% for one of the larger losses.

Indexes in Asia were stronger earlier in the day, and South Korea’s Kospi jumped 4.4%.

LONDON — Thursday, July 23, 2026: Global oil prices climbed toward $100 a barrel on Thursday as renewed military tensions involving Iran and continued attacks on commercial shipping in the Red Sea disrupted energy markets, raising fresh concerns that inflation could accelerate again and delay interest-rate cuts by central banks. The latest move in crude prices rippled through financial markets, lifting government bond yields, pressuring equities and increasing costs for businesses that rely heavily on transportation and fuel. 

Brent crude traded near the $100-per-barrel mark during European trading, while U.S. benchmark West Texas Intermediate also posted sharp gains. The rally follows growing concerns over the security of one of the world’s most important energy shipping corridors after additional attacks on vessels transiting the Red Sea and continued military operations involving Iran. Energy traders increasingly fear prolonged disruptions could tighten global supplies during the peak summer demand season. 

The surge in oil immediately spread beyond commodity markets. U.S. Treasury yields climbed as investors reduced expectations for lower interest rates, reflecting concerns that higher energy prices could feed into broader inflation. Equity markets moved lower as rising fuel costs threatened corporate profit margins, particularly across airlines, transportation companies, manufacturers and consumer-focused businesses. Technology shares also remained under pressure as investors simultaneously weighed record artificial intelligence spending by major technology companies. 

For businesses, sustained increases in crude oil prices often extend well beyond the energy sector. Higher diesel and jet fuel costs raise shipping expenses, increase airline operating costs, elevate manufacturing input prices and can eventually push consumer prices higher. Industries dependent on global supply chains are particularly exposed as ocean freight, trucking and air cargo become more expensive.

Central banks are also facing renewed challenges. Policymakers had been watching for further evidence that inflation was moderating before considering additional interest-rate reductions. A prolonged rise in oil prices could complicate those plans by increasing inflation expectations and keeping borrowing costs elevated for businesses and consumers alike. European government bond yields moved higher Thursday as investors reassessed monetary policy expectations following the latest energy market developments. 

The impact was evident across financial markets. Energy producers outperformed while airlines, retailers and other fuel-sensitive sectors traded lower. Market volatility also increased as investors balanced stronger corporate earnings from industrial and defense companies against mounting geopolitical risks and higher commodity prices. 

Investors will continue monitoring developments in the Middle East, tanker traffic through regional shipping lanes and any additional changes in global oil inventories. With crude approaching the psychologically important $100-per-barrel threshold, businesses across multiple industries are preparing for the possibility that elevated energy costs could persist through the second half of the year, influencing everything from transportation budgets to consumer inflation.

JBizNews Desk | Wall Street

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

NEW YORK — Thursday, July 23, 2026: A wave of corporate earnings released Thursday painted a mixed picture of the U.S. economy, with defense and industrial companies benefiting from sustained government spending and investment in automation, while higher fuel prices weighed heavily on the airline industry. The reports from Lockheed Martin, Honeywell Technologies and American Airlines, together with anticipation surrounding Intel’s closely watched earnings after the closing bell, offered investors one of the clearest snapshots yet of where corporate America is finding growth—and where rising costs continue to pressure profits.

The earnings arrived as Wall Street traded sharply lower, with investors balancing another surge in oil prices, record artificial intelligence spending by technology companies, and fresh corporate guidance that highlighted the growing divide between sectors benefiting from structural demand and those facing inflationary headwinds.

Lockheed Martin Benefits From Rising Global Defense Spending

Among Thursday’s strongest reports came from Lockheed Martin, which raised its full-year sales and earnings outlook after reporting stronger-than-expected second-quarter results fueled by accelerating global demand for missile defense systems, fighter aircraft and precision weapons.

The company posted $20.1 billion in quarterly revenue, an 11% increase from a year earlier, while net earnings rose to $1.84 billion, or $7.94 per diluted share. Sales were driven by increased production of PAC-3 missile interceptors, THAAD air-defense systems, Precision Strike Missiles, and continued deliveries of the F-35 Joint Strike Fighter.

Lockheed also reported a record backlog of approximately $230 billion, reflecting strong demand from the U.S. Department of Defense and allied governments across Europe, Asia and the Middle East. The company raised its full-year revenue and earnings guidance, reinforcing expectations that global defense spending will remain elevated as nations continue rebuilding military inventories and modernizing defense capabilities.

For manufacturers throughout the aerospace supply chain, the report signals continued demand for advanced electronics, precision components, composite materials and industrial production.

Honeywell Sees Automation Investment Continue

Industrial technology also remained resilient.

Honeywell Technologies increased its full-year earnings forecast after reporting stronger-than-expected revenue during its first quarterly report as a standalone automation company following the separation of its aerospace business.

Quarterly sales increased to $9.72 billion, while orders continued exceeding shipments, expanding the company’s backlog to roughly $38 billion. The strongest growth came from building automation, warehouse technology, industrial software and digital infrastructure, areas benefiting from continued investment in artificial intelligence, data centers, logistics modernization and energy-efficient commercial buildings.

Management raised its adjusted earnings outlook for the year, citing improving order trends and sustained customer investment despite higher interest rates and broader economic uncertainty.

The results suggest businesses continue prioritizing productivity-enhancing technologies, even as other areas of capital spending remain under pressure.

American Airlines Posts Record Revenue but Lowers Profit Outlook

The transportation sector presented a very different picture.

American Airlines reported the highest quarterly revenue in its history, generating $16.7 billion, yet reduced its full-year earnings guidance after rapidly rising jet fuel prices eroded profitability.

The airline reported GAAP net income of $71 million, down sharply from $599 million during the same quarter last year, as fuel expense increased by more than $2.2 billion year over year.

Management lowered its adjusted earnings outlook for 2026, warning that higher energy prices linked to renewed geopolitical tensions are expected to continue weighing on operating margins through the remainder of the year.

Despite resilient passenger demand and stronger ticket pricing, American acknowledged that rising fuel costs are offsetting much of the industry’s revenue growth.

The results also reinforce concerns that transportation companies—including airlines, freight carriers and logistics firms—could remain among the sectors most vulnerable if oil prices continue climbing during the second half of the year.

Intel Becomes Wall Street’s Next Major Test

Attention now shifts to Intel, which is scheduled to report second-quarter results after Thursday’s closing bell.

The semiconductor company is expected to deliver one of the quarter’s most closely watched earnings reports as investors look for evidence that billions of dollars being invested across the technology sector into artificial intelligence are beginning to generate measurable financial returns.

The report follows earnings from Alphabet and Tesla, both of which highlighted unprecedented capital spending on AI infrastructure while raising new questions about when those investments will translate into stronger profitability.

Investors will focus on Intel’s progress in expanding AI chip production, improving its contract manufacturing business, strengthening data-center demand and updating guidance for the remainder of 2026. Management’s commentary is also expected to provide insight into enterprise technology spending, semiconductor demand and the broader outlook for the AI economy.

A Growing Divide Across Corporate America

Taken together, Thursday’s earnings reveal a widening divergence across industries.

Defense manufacturers continue benefiting from increased government procurement and long-term military modernization programs. Industrial technology companies are seeing sustained investment in automation, digital infrastructure and artificial intelligence. Meanwhile, transportation companies are confronting higher operating costs driven largely by rising energy prices.

That divergence is becoming increasingly important for investors as elevated interest rates, geopolitical uncertainty and commodity price volatility create different operating environments across industries.

For business owners, the reports also highlight broader economic trends extending beyond quarterly earnings. Strong corporate investment in automation and infrastructure continues supporting manufacturing demand, while rising oil prices threaten to increase transportation, freight and travel costs throughout the economy.

Wall Street will now turn its attention to Intel’s earnings later Thursday, which could further shape expectations for technology spending and determine whether corporate America’s largest AI investments are beginning to deliver the financial returns investors have been waiting for.

JBizNews Desk | Wall Street

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

CIA Director John Ratcliffe recently held a high-level meeting in Washington with newly appointed Mossad Director Roman Gofman to discuss the ongoing conflict with Iran and diplomatic efforts surrounding Tehran’s nuclear program, according to two sources familiar with the discussions cited by Axios.

The visit was Gofman’s first to the U.S. capital since taking over as head of Israel’s intelligence agency in June. It took place just before tensions in the Strait of Hormuz sharply increased and renewed fighting erupted across the Middle East.

According to the Axios report, a key purpose of Gofman’s trip was to coordinate with the White House on negotiations aimed at reaching a nuclear agreement with Iran. During his visit, he met not only with Ratcliffe but also with senior White House officials, the sources said.

The report added that Ratcliffe had emerged as one of the leading skeptics within President Donald Trump’s administration regarding the memorandum of understanding reached with Iran. Before the agreement was finalized, Ratcliffe reportedly cautioned that Tehran might interpret several of its provisions differently than Washington, particularly those concerning the Strait of Hormuz.

Axios reported that neither the CIA nor the Mossad responded to requests for comment regarding the meeting.

Gofman officially became director of the Mossad on June 2 after legal challenges delayed his appointment. During the swearing-in ceremony, Prime Minister Benjamin Netanyahu said Gofman’s primary mission would be to ensure Iran no longer posed a threat to Israel and declared that the Iranian “regime of terror will pass from this world.”

The reported intelligence meetings come as Trump and Netanyahu continue evaluating their next course of action in the confrontation with Iran.

Axios also reported Wednesday that Trump and Netanyahu have discussed the possibility of meeting in the Oval Office next week, although no final decision has been made. Netanyahu is expected to be in Washington to attend the funeral of the late Sen. Lindsey Graham, R-S.C., creating the possibility that the trip could include White House discussions.

According to Axios, American and Israeli officials are currently weighing two principal options: pursuing a renewed ceasefire initiative designed to reopen the Strait of Hormuz or expanding joint military operations against Iran should diplomatic efforts collapse. Israeli officials told the outlet they are preparing for the possibility of a wider conflict but would join military operations only if Iran attacks or if the United States formally requests Israel’s participation.

The White House has not confirmed any plans for a meeting between Trump and Netanyahu. Axios added that both the Israeli Prime Minister’s Office and Israel’s Embassy in Washington declined to comment on the report.

{Matzav.com}

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1:05 pm

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Tisha B’Av at Keristier

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1:04 pm

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IRAN BUILDUP: Reuters Says Tehran Flew IRGC Personnel And Missile Equipment To Yemen To Aid Houthis

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Iran flew IRGC commanders, military advisers, and missile- and drone-related equipment into Houthi-controlled Yemen this month, Reuters reports. A Mahan Air flight carrying between 10 and 21 IRGC personnel departed Tehran on July 13 and was diverted from Sanaa to Hodeidah after Saudi airstrikes targeted Sanaa airport Reuters reports. The personnel were sent to support Houthi operations and train fighters on new missile systems. The aircraft also carried gold to finance further Houthi activities.

1:03 pm

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The End of Tisha B’Av at the Kosel

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12:34 pm

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TISHA B’AV: Megillas Eichah Read At Chevron Yeshiva On Tisha B’Av Night

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12:33 pm

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IRAN ESCALATION: Netanyahu To Convene Security Meeting As Regional Tensions Rise Over Iran

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IRAN ESCALATION: PM Netanyahu will chair a small security meeting tomorrow afternoon, Channel 12 reports. The subject has not been disclosed, though the meeting is believed to concern Iran.

An Israeli official told Ynet that the region appears headed toward escalation as D.C. pressures Iran to return to negotiations or face the consequences. Two sources told Axios that Iran has not accepted the latest U.S. proposal, with one saying, “We are trying, but the Iranians are not being helpful.” The official added that the U.S. could ask Israel to participate in future action, though D.C. does not currently appear eager to do so.

12:32 pm

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MAJOR UPDATE: Gur Yeshiva Bochur Released Early After Sentence Reduced Following Atzeres Tefillah

](https://www.theyeshivaworld.com/news/liveblogs/live-blog/2578249/major-update-gur-yeshiva-bochur-released-early-after-sentence-reduced-following-atzeres-tefillah.html)

The Sfas Emes yeshiva bochur from Gur, whose arrest prompted the major Atzeres Tefillah outside Prison 10, is being released now after his sentence was reduced from 20 days to eight.

12:27 pm

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TISHA B’AV: Megillas Eichah Read At Chabad World Headquarters In Crown Heights

](https://www.theyeshivaworld.com/news/liveblogs/live-blog/2578246/tisha-bav-megillas-eichah-read-at-chabad-world-headquarters-in-crown-heights.html)

Reading Megillas Eichah at Chabad World Headquarters, 770 Eastern Parkway, on Tisha B’Av night.

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12:26 pm

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PM FURIOUS: Netanyahu’s Office Enraged After MK Says Iran Strike Could Come This Weekend

](https://www.theyeshivaworld.com/news/liveblogs/live-blog/2578243/pm-furious-netanyahus-office-enraged-after-mk-says-iran-strike-could-come-this-weekend.html)

Netanyahu’s office is furious over comments made by MK Moshe Saada in an interview with Channel 14, in which he said: “We are approaching an attack on Iran, perhaps even this weekend.”

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12:25 pm

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TEARFUL TEFILLOS: HaRav Yaakov Ades Pours Out Tefilos At Me’aras Hamachpelah For Klal Yisroel And The Shechinah’s Exile

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אוי לנו על גלות השכינה…
Mekubal HaRav Yaakov Ades overnight at the Me’aras Hamachpelah in Chevron, pouring out heartfelt tefillos for Klal Yisroel and the exile of the Shechinah.

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12:24 pm

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🔥🔥 TISHA B’AV: Former Hostage Bar Kuperstein Reveals Captives Observed the Tisha B’Av Fast In Hamas Tunnels For Their Release

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Former Hamas hostage Bar Kuperstein revealed that he and fellow captives decided to observe the Tisha B’Av fast while being held in a Hamas tunnel in Gaza. “We decided to fast on Tisha B’Av in the tunnel in Gaza, and in that Zechus, Hashem should free us,” he said.

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12:22 pm

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TOUGH WARNING: Rubio Says Trump’s Iran Policy Is “A Head For An Eye”

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U.S. Secretary of State Marco Rubio: “I saw Araghchi, their foreign minister, yesterday say, ‘An eye for an eye.’ The president’s policy is ‘a head for an eye.’

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12:21 pm

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WAR POWERS: House Passes Resolution Limiting Trump’s Authority To Conduct Military Operations Against Iran

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The House passed a War Powers resolution aimed at limiting President Trump’s authority to conduct military operations against Iran without congressional approval, approving the measure in a 214–208 vote. The Senate is expected to vote on a similar resolution later today.

12:21 pm

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WARNING ISSUED: Trump Warns Iran, Houthis Face “Major Military Punishment” If Attacks On Commercial Shipping Resume

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President Trump warned that Iran and the Houthis will face “major military punishment” if the Houthis again attack commercial shipping, after two Saudi ships were targeted overnight. Trump said the U.S. will hold Iran responsible because the Houthis are its proxy, adding that they had acted “responsibly” during the conflict with Iran but are now “starting up again.”

12:20 pm

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LEAK PROBE: Secret Service Agent On VP JD Vance’s Detail Placed On Leave Over Alleged Travel Information Leak

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A U.S. Secret Service agent assigned to Vice President JD Vance’s protective detail has been placed on administrative leave amid an internal investigation into the alleged leak of sensitive information about the vice president’s travel plans, according to multiple reports. CNN, citing sources familiar with the matter, reported that the agent is suspected of providing details to members of the media regarding Vance’s travel schedule. A second source confirmed that officials have identified a person believed to be responsible for the leak.

12:19 pm

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WATCH: Mordechai Ben David Shares Rare Tisha B’Av Memories Of The Ribnitzer Rebbe’s Awe-Inspiring Hanhagos

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Watch legendary singer Mordechai Ben David share how the holy Ribnitzer Rebbe ZT”L conducted himself during the Three Weeks–and especially on Tisha B’Av. Sackcloth. Ashes. Tearing kriya. Fasting for two days–and more. MBD, who was zoche to be meshamesh the Ribnitzer Rebbe for many years, gives a rare glimpse into these awe-inspiring hanhagos.

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12:18 pm

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SPECIAL TEFILLOS: HaGaon HaRav Dov Landau Calls For Nationwide Tefillah Gatherings Across Israel On Motzei Tisha B’Av

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At the instruction of HaGaon HaRav Dov Landau, public tefilla gatherings and the recitation of Tehillim will take place in shuls throughout Israel on Motzei Tisha B’Av at 10:00 p.m., with tefillos for the yeshua of Klal Yisrael during this difficult period.

12:17 pm

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TEARFUL KINNOS: HaGaon HaRav Yitzchak Zilberstein Breaks Down In Tears While Reciting Kinnos

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אֱלִי צִיּוֹן וְעָרֶיהָ…
Hagaon HaRav Yitzchak Zilberstein recites the Kinnos this morning, breaking down in bitter tears.

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9:10 am

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🎬 STILL STANDING: Experience the Tisha B’Av Film of the Year.

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Hosted by Rabbi Nachman Seltzer. 4 incredible stories of unbreakable strength, survival and perseverance.

* Rav Gav – on nearly dying
* R’ Dovid Orlofsky – on his abusive childhood
* The Ribnitzer Rebbe’s Gabbai with heroic stories of the rebbe
* Yoav – Yad L’Achim rescuer telling a dramatic rescue story

A Tisha B’Av film like no other. Never before seen footage. Four Stories of Danger, Drama, Despair, and Perseverance.

PRE-ORDER NOW:
https://TishaBavfilm.com

9:50 pm

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WAR BUILDUP: U.S. Rushes Troops, Jets and Bombers to Middle East Amid Iran Conflict

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WAR BUILDUP: The U.S. is rapidly moving additional troops, fighter jets, bombers, medical personnel and weapons toward the Middle East, giving President Trump more options to expand military operations against Iran, according to a Wall Street Journal report.

Special operations forces have deployed to the region, fighter squadrons are being positioned across the Middle East, and long-range bombers have been placed on heightened alert. More than 150 military medical personnel have also arrived at a U.S. hospital in Germany as the Pentagon prepares for the possibility of a broader campaign.

7:14 pm

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MALI STRIKES: Trump Administration Weighs Military Action Against Al-Qaeda-Linked Terror Group

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The Trump administration is weighing military strikes in Mali against JNIM, an al-Qaeda-linked terrorist group, The Washington Post reports.

Senior officials are divided over whether the U.S. should act directly. Counterterrorism official Sebastian Gorka is pushing for military action, while others argue regional forces should take the lead. Options under discussion reportedly include U.S. airstrikes targeting JNIM leaders, but no final decision has been made.

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President Donald Trump is significantly increasing the American military footprint across the Middle East, broadening the range of options available for potential action against Iran as the conflict enters its fifth month and Tehran continues threatening international shipping in the Strait of Hormuz.

According to a report by The Wall Street Journal, citing U.S. officials and other sources familiar with the deployments, the United States has either dispatched or placed on heightened alert additional special operations forces, fighter aircraft, long-range bombers, aerial refueling planes, and more than 150 medical personnel throughout the region.

The expanded military posture comes in the wake of the deaths of four American service members in recent Iranian attacks and amid ongoing discussions within the Trump administration over possible additional military operations.

On Wednesday, U.S. Central Command announced that it had completed a twelfth straight day of strikes inside Iran, saying the operations are intended to weaken Tehran’s ability to threaten civilian vessels and commercial shipping in regional waterways.

The Pentagon declined to comment on specific force deployments, citing operational security concerns, while the White House emphasized that Trump “always has all options at his disposal.”

Trump also warned that the United States would retaliate forcefully if Iran targets ships passing through the Strait of Hormuz, declaring that America would destroy “one bridge or power plant” for every attack carried out by the Islamic Republic against maritime traffic.

Iranian Foreign Minister Abbas Araghchi responded by warning that any U.S. strike against Iranian infrastructure would provoke a “powerful and decisive response.”

Secretary of State Marco Rubio likewise cautioned Iran against attempting to dominate one of the world’s most strategically important maritime corridors.

“If we create a precedent … where a nation state can decide that they are going to control an international waterway, charge a toll, and if you don’t pay them, blow up your ships, we have created a very dangerous precedent,” Rubio said during a summit in the Philippines.

The Journal reported that the expanded American military presence could also strengthen operations against Yemen’s Iran-backed Houthi terrorists, who have recently threatened to blockade Saudi shipping routes in the Red Sea.

Those concerns intensified Wednesday after two Saudi oil tankers were reportedly struck by projectiles near the Bab al-Mandeb chokepoint, highlighting the growing risks facing global energy supplies.

Meanwhile, Congress moved to reinforce the military effort by advancing additional defense funding. The Republican-controlled House approved a $95 billion budget framework that allocates approximately $73 billion for military and intelligence programs while also passing its version of the annual National Defense Authorization Act.

War Secretary Pete Hegseth told lawmakers that the conflict has so far cost an estimated $37.5 billion.

Despite the mounting financial burden, Trump and senior administration officials have maintained that sustained military pressure is essential to prevent Iran from acquiring a nuclear weapon and to safeguard freedom of navigation through the Strait of Hormuz, a waterway through which roughly 20 percent of the world’s traded oil normally passes.

The White House announced Wednesday that the federal government will pour $5 billion into artificial intelligence tools aimed at cracking long-standing scientific problems in health, energy, and the nation’s physical infrastructure — one of the largest single federal commitments to applied AI research to date.

More than 15 federal agencies will take part, including the Departments of Health and Human Services, Energy, Transportation, Defense, and Interior. Officials said the money will fund AI work on the root causes of chronic disease, treatments for pediatric cancer, faster prescription-drug discovery, and longer-lasting building materials for roads, bridges, and public works.

Michael Kratsios, chief technology adviser to President Donald Trump and director of the Office of Science and Technology Policy, framed the initiative as a way to put the government’s enormous data holdings to work. Federal agencies sit on some of the largest datasets in the world — records on chemicals, critical minerals, and patient health among them — and the plan is to train AI models on that information to answer questions researchers have struggled with for years. Scientists working on the projects will get access to the Energy Department’s supercomputers and specialized datasets to run their experiments.

The private sector is already stepping in. Microsoft committed to donate $40 million in AI computing credits over three years to support the effort, according to the company. That kind of in-kind contribution lowers the government’s cloud and compute costs and signals where large technology firms see federal AI spending heading — toward infrastructure-scale projects that require the same data-center capacity now driving record capital budgets across the industry.

For the business community, the announcement carries weight well beyond the research labs. A $5 billion federal buy-in creates a pipeline of contracts for AI vendors, cloud providers, data-labeling firms, and the engineering companies that will translate algorithmic findings into physical construction. The infrastructure component in particular — materials science aimed at extending the life of roads and structures — could ripple into procurement decisions across state and municipal budgets that lean on federal research for standards.

The initiative arrives alongside a broader shift in how Washington intends to fund science. A White House report released Tuesday night, authored by Kratsios, laid out plans to steer more federal research money toward individual investigators and AI-led projects rather than the university-based grant model that has anchored American research for decades. The report argued that federal science funding must remain accountable to elected officials, while stopping short of dictating how individual research agendas are carried out.

That redirection has already drawn legal challenges. Earlier this year, a federal appeals panel ruled that the administration could not impose sweeping cuts to National Institutes of Health grant funding for universities conducting medical and scientific research. The tension between the administration’s push for tighter control over research dollars and the courts’ resistance forms the backdrop against which this new spending will be deployed, and it leaves open questions about how quickly the money can actually flow.

There are practical hurdles as well. Federal AI programs have a track record of stumbling on the gap between demonstration and deployment — contracts that outrun oversight, data-governance gaps, and pilot projects that impress in a controlled setting but falter in the field. In health applications, models built on incomplete or skewed data can produce unreliable results. On construction and infrastructure, scheduling and safety tools that look strong in testing can break down on an active job site. Whether $5 billion delivers usable results or stalls in the familiar procurement bottlenecks will depend heavily on execution.

The bet is not entirely new. Washington has repeatedly leaned into AI research funding over the past several years, and this latest commitment extends a pattern of the government positioning itself as an anchor customer for the technology. What distinguishes this round is scale and coordination — the attempt to pull more than a dozen agencies under a single umbrella rather than fund scattered, agency-specific efforts.

For firms across health tech, energy, construction, and cloud computing, the message is that federal demand for AI is accelerating, and the contracts attached to it are about to grow.

JBizNews Desk | Washington, D.C.

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

An Israeli was wounded today in the second stabbing attack to strike Samaria in a single day, as a terrorist stabbed a man near Ganim before being shot dead by Israeli soldiers.

The victim sustained a moderate leg injury in the attack, which occurred near Ganim in northern Samaria on Thursday afternoon. Security forces at the scene neutralized the assailant shortly after the stabbing.

Preliminary findings indicate that the attack took place at a recently established post in the Ganim area, where preparations are underway for the re-establishment of the permanent community in the near future.

Authorities said the terrorist drove to the location during a logistical operation taking place at a nearby outpost. After stabbing the Israeli victim, two soldiers on the scene opened fire, killing the attacker.

The incident marked the second terrorist stabbing in Samaria on Thursday. Earlier in the day, an Israeli was seriously wounded in a stabbing attack at Avraham Farm near Elon Moreh while helping extinguish a fire that had broken out in the area.

JERUSALEM (VINnews) — Senior figures in Iran’s Jewish community publicly called for the killing of U.S. President Donald Trump and Israeli Prime Minister Benjamin Netanyahu during an event at the Iranian parliament focused on retaliation against Israel.

Rabbi Dr. Hakham Hamami Lalehzar, a senior leader in Iran’s Jewish community, condemned Israel and declared that those responsible for the reported killing of Iran’s Supreme Leader, Ayatollah Ali Khamenei, should be put to death. “The murderers of Supreme Leader Khamenei must be killed,” Hamami said.

Quoting the book of Bamidbar, he argued that justice required the killers to be punished with death.

“The land cannot be cleansed of the blood that is shed in it, except by the blood of the one who shed it.”

Speaking to Iranian media, Hamami said the Torah teaches that spilled blood can only be atoned for through the death of the murderer. He described Khamenei’s killing as “the height of ruthlessness and contempt for human life,” adding that it demonstrated “the enemy has no limits.”

Hamami also argued that the appropriate term for targeting those responsible was “blood revenge,” saying the phrase more accurately conveyed the concept and would be better understood both regionally and internationally.

“The enemy thought that removing the leader would cause the unity of society to collapse, but the result was the opposite,” he said. “The Iranian people are stronger than ever.”

Also speaking at the conference was Homayoun Sameh, the Jewish representative in the Iranian parliament, who accused Western governments of applying double standards to what he described as terrorism by Israel and the United States.

“For years, the Islamic Republic of Iran was accused of supporting terrorism,” Sameh said. “Today, they remain silent in the face of attacks by the United States and the Zionist regime against Iranian commanders, officials and civilians.”

The two men took part in a conference titled “Fulfilling the Promise of Revenge,” attended by other leaders from Iran’s Jewish community.

Sameh claimed that since the 1979 Islamic Revolution, the United States and other Western powers had sought to portray Iran as a sponsor of terrorism while ignoring attacks against Iranians.

“Over the past year, the Zionist regime and the United States, through terrorist operations, have killed many commanders, officials, political and military figures, as well as innocent Iranian women, children and civilians,” he said. “Despite these crimes, Western governments have not only failed to condemn them, but international media outlets have also remained silent.”

Addressing Iran’s calls for retaliation, Sameh argued that revenge against those responsible was rooted in religious values, including Jewish tradition.

“The issue of revenge and confronting injustice holds an important place in religious values, including in the Torah,” he said. “The Torah emphasizes the principle of justice and punishment in accordance with the crime. This is the same concept expressed by the phrase ‘an eye for an eye.'”

He added that Iran should continue explaining to the international community what he described as its legitimate right to retaliate, saying, “Everyone must understand that confronting terrorism and punishing those responsible is a demand arising from justice and the rights of nations.”

The United States is rapidly moving additional troops, aircraft, medical personnel and weapons toward the Middle East, giving President Trump expanded military options as he weighs a broader campaign against Iran, according to a Wall Street Journal report.

U.S. special operations forces have deployed to the region in recent days to assist with intelligence, tracking and targeting efforts. Fighter squadrons are being positioned at bases across the Middle East, while long-range bombers at facilities in the United States and Britain have been placed on heightened alert for possible missions.

The Pentagon has also moved aerial refueling tankers and additional fighter jets into the region, while military cargo flights continue delivering personnel, equipment and supplies to major American installations. The buildup is intended to allow U.S. forces to expand operations quickly if new orders are issued.

More than 150 military medical personnel have arrived at Landstuhl Regional Medical Center in Germany, the main hospital used to treat American troops wounded in Middle East combat operations. Additional medical teams and evacuation resources are also being prepared across the region.

The large-scale movement of forces marks the clearest sign yet that Washington is preparing for the possibility of a wider and more sustained campaign against Iran, even as no final decision has been announced on the scope of future operations.

(YWN World Headquarters – NYC)

SANTA CLARA, Calif. — Thursday, July 23, 2026: Intel takes center stage after today’s market close as investors await one of the most anticipated earnings reports of the quarter, with the semiconductor giant expected to provide fresh insight into artificial intelligence demand, manufacturing expansion and the broader outlook for the global chip industry.

The earnings release comes at a pivotal moment for the technology sector. Shares across AI-related companies came under heavy selling pressure Thursday morning after Alphabet increased its capital spending forecast to as much as $205 billion and Tesla reported negative free cash flow while continuing to invest aggressively in AI infrastructure. Those reports have shifted Wall Street’s attention from revenue growth to a more fundamental question: when will hundreds of billions of dollars invested in artificial intelligence begin producing stronger profits? 

Intel’s report is expected to provide one of the clearest answers. Analysts are forecasting approximately $14.4 billion in second-quarter revenue, representing roughly 12% year-over-year growth, while adjusted earnings are expected to rebound to about 22 cents per share after a loss during the same period last year. Investors will be looking well beyond those headline figures, however, focusing instead on whether Intel is successfully capturing growing demand for AI processors, expanding its foundry business and improving manufacturing efficiency. 

The company’s guidance could prove even more important than the quarterly results themselves. Wall Street will closely examine management’s outlook for the remainder of 2026, particularly any updates regarding data-center demand, enterprise computing, AI chip production and capital expenditures. With technology companies committing record sums toward artificial intelligence infrastructure, investors are increasingly rewarding companies that demonstrate measurable returns while punishing those that continue spending without clear profitability.

Intel also remains central to the U.S. semiconductor manufacturing strategy. Under Chief Executive Lip-Bu Tan, the company continues expanding its contract chip manufacturing business while investing heavily in advanced fabrication facilities designed to reduce dependence on overseas production. Progress on those initiatives could influence not only Intel’s valuation but also broader confidence in domestic semiconductor manufacturing.

Today’s report also arrives against a more challenging market backdrop. Rising oil prices, higher Treasury yields and renewed geopolitical tensions have increased concerns about inflation and borrowing costs, making investors less willing to overlook elevated corporate spending. That environment has raised the stakes for every major technology company reporting earnings this season.

Intel will release its second-quarter financial results after the closing bell Thursday, followed by a conference call with analysts and investors. The report is widely expected to influence trading across the semiconductor sector, including shares of AMD, Nvidia, Broadcom, Micron and other companies tied to the expanding AI ecosystem. 

JBizNews Desk | Wall Street

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

A high-end food hall is coming to a Brooklyn landmark. Miami-based hospitality brand Casa Tua will open Cucina by Casa Tua inside the former banking hall of the Williamsburgh Savings Bank Tower, also known as One Hanson Place, bringing Italian fare and fine goods to Downtown Brooklyn. The Landmarks Preservation Commission on Tuesday voted to approve designs for the new food hall, which will preserve the landmarked interiors, keeping its cathedral-inspired design, and add new spaces for dining and gathering.

The banking hall at One Hanson Place hosted the Brooklyn Flea, but has been empty for years. Photo by Rik Panganiban on Flickr

Designed by Halsey, McCormack, and Helmer, the Williamsburgh Savings Bank building was constructed in the late 1920s in a Romanesque Revival design. The 512-foot-tall tower was the tallest in Brooklyn for 80 years until 2009. With its domed clock tower, it remains an integral part of the borough’s evolving skyline. LPC designated the tower an individual landmark in 1977 and as an interior landmark, including the banking hall, in 1996. The office skyscraper was converted into 175 apartments in 2006.

Brooklyn Sports & Entertainment (BSE), the parent company of the Barclays Center, acquired the retail portion of One Hanson Place in October 2024 for $10.3 million. In May, BSE announced plans to bring Cucina by Casa Tua to the ground floor of the tower, marking its first hospitality expansion beyond the Barclays Center, as Crain’s reported.

The banking hall, described by the LPC in their designation report as “basilica-like,” has over 60-foot ceiling heights, nearly a dozen types of marble, and ornate mosaics.

The project, designed by Acheson Doyle Partners Architects and Hapstak Demetriou, adaptively reuses the space, which has been vacant for years. New mezzanines will be installed, which will overlook the food hall. According to the presentation, there will be a main bar, a raw bar, and a sushi/crudo kiosk in the center. There will be pizza, pasta, a bakery, a salad grab-and-go section, and a cafe.

According to BSE, additional features of the building include a “lounge, private dining and special event spaces on the lower level, marking a significant expansion in how Cucina, and the group more broadly, will host and engage with its community.”

Casa Tua currently has locations on the Upper East Side, Miami Beach, Aspen, Paris, and Capri; the Cucina format is currently only in Miami.

Cucina is expected to open at One Hanson Place in 2027.

“Growth has always been very deliberate for us. It’s about extending our version of hospitality – our quality, connection, and care – to a wider audience without losing the intimacy that makes Casa Tua special,” Miky Grendene, co-founder, Casa Tua, said in a May press release.

“One Hanson Place is a remarkable, historic setting, and with Brooklyn Sports & Entertainment, we share a clear vision for how to approach it: with the utmost respect for the landmark building, the neighborhood, and the people who will bring it to life every day.”

RELATED:

• 24-story rental tower above historic Fort Greene church approved by Landmarks

The post Upscale food hall will open in the landmarked hall of Brooklyn’s Williamsburgh Savings Bank Tower first appeared on 6sqft.

Iran’s Chief Rabbi, HaRav Yehuda Gerami, led the reading of Megillas Eicha and the recitation of Kinnos on Tisha B’Av at Tehran’s central Yosef Abad Shul.

During the service, HaRav Gerami recited the piyut “Aleichem Eidah Kedoshah,” a lament traditionally recited on the night of Tisha B’Av in some kehillos. The piyut opens by asking, “How is this night different from all other nights?” drawing a powerful contrast between the customs of freedom observed on Pesach night and the mourning practices of Tisha B’Av.

Despite ongoing tensions between Iran and Israel, the Jewish community in Tehran continued its longstanding Tisha B’Av observances, gathering at the city’s main synagogue to mourn the destruction of the Batei Mikdash.

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(YWN World Headquarters – NYC)

Dear Mr. Mayor,

Thank you. That is where this letter begins, and it is meant sincerely. Your acknowledgment of Tisha b’Av — the day when the Jewish people sit on the floor and mourn two destroyed Temples in Jerusalem – the Jewish homeland, the exiles, the massacres, the expulsions, and the crematoria — was noticed. The gesture is received with gratitude.

But gratitude does not require silence, and Tisha b’Av is the one day on the Jewish calendar when comfortable silence is forbidden. It is the day of Eichah — the day of asking how. Permit a response in that spirit.

The Words of the Previous Week

In the days before this fast, the mayor made characterizations of the war in Gaza that do not survive contact with the evidence. In the Jewish tradition, truth is the seal of G-d. It is not a rhetorical flourish. It is the signature He signs His name with.

The word deployed was “genocide.” It was deployed as description rather than accusation — as though its meaning were settled rather than legally precise, as though repetition were proof.

It is not a synonym for war. Not for tragedy. Not for a high casualty count, or rubble, or suffering — and Gaza has all three in abundance, and no honest person denies it.

Genocide is a legal term with a fixed definition: the intent to destroy a national, ethnic, racial, or religious group, in whole or in part. Intent. Not outcome. Not appearance. Not what a photograph looks like when it is cropped correctly.

That distinction is not pedantry. It is the entire difference between a war crime and a war — and between a nation defending itself and a nation that has forfeited its right to exist.

Also this is not a war just because of October 7th. This is a defensive war because of Hamas’s declaration, intent, and preparation for continued attacks just like October 7th.  

When you were asked directly whether the Hamas attack of October 7 constituted a genocide, you answered: “I consider Oct. 7 to be a horrific war crime.” You further added that it should be opposed with every fiber of our being, and grounded your position in a belief in the universality of humanity — insisting that one cannot pick and choose which crimes against humanity to oppose.

Twelve hundred people were murdered in a single morning. Families burned in their homes. Women raped beside the bodies of their friends. Infants taken. Two hundred fifty-one human beings dragged into tunnels. That was a war crime.

And the war fought afterward, by the country those people were taken from — that was the genocide.

Who John Spencer Is

There is a man,a teacher at West Point, who has actually did look into Gaza.

John Spencer chairs urban warfare studies at the Modern War Institute at West Point and co-directs the Institute’s Urban Warfare Project. He spent twenty-five years as an infantry soldier, including two combat tours in Iraq. He wrote Connected Soldiers and co-authored Understanding Urban Warfare.

He is not a rabbi. He is not a lobbyist. He is not a political actor. He is a man who has led soldiers under fire, trained militaries in urban combat for decades, and taught the laws of war.

And here is what separates him from nearly every voice that dominated last week’s discourse: since October 7, 2023, he has entered Gaza four times, embedded with the Israel Defense Forces. He has interviewed Israel’s prime minister, its defense minister, the IDF chief of staff, the leadership of Southern Command, and dozens of commanders and soldiers at the front. He read the orders. He watched the targeting process. He saw soldiers accept real risk to themselves rather than harm civilians.

His conclusion: nothing he has seen or studied resembles genocide or genocidal intent.

The question that follows is simple. How many times has the Mayor been inside Gaza?

What He Found When He Examined the Evidence

Spencer took up the most credentialed version of the accusation — the case made by Professor Omer Bartov of Brown University in the New York Times, an actual scholar of genocide — and dismantled it piece by piece.

Bartov’s case rests on five statements by Israeli leaders. Consider what they amount to.

Netanyahu said on October 7 that Hamas would “pay a huge price” for the murder of 1,200 people and the abduction of 251. That is not a call for genocide. It is what any national leader on earth says after the worst terrorist attack in his country’s history.

Netanyahu said Hamas would be destroyed and that civilians should evacuate combat zones — which is not evidence of a desire to destroy a people, but precisely what professional militaries do when fighting an enemy that hides among civilians.

The “remember Amalek” line was presented as the smoking gun. Spencer notes that the phrase is engraved at Yad Vashem in Jerusalem and appears on the Holocaust memorial in The Hague. In both places it functions as a warning to remain vigilant against those who would destroy you — not as an instruction to kill.

A phrase carved into Holocaust memorials was submitted as proof of genocidal intent. Sit with that. The words we placed on the graves of the murdered were entered into evidence as the murder weapon.

Gallant’s “human animals” remark, describing Hamas fighters, is not a war crime — and Spencer observes that after the slaughter and rape of October 7, many would understand the sentiment.

Unable to locate genocidal intent among the people actually directing the war, Bartov reached instead for far-right politicians like Bezalel Smotrich and Nissim Vaturi. These men do not command troops, issue orders, or shape battlefield decisions. Spencer, who read the actual orders, reports that they focus on destroying Hamas, rescuing hostages, and protecting Gazan civilians wherever possible — which renders the rhetoric legally irrelevant.

That is the case. Five quotations, one of them lifted off a Holocaust memorial, and two politicians with no command authority.

That is what an entire city was asked to believe on the strength of.

What the Army Actually Did

Against that, set the record Spencer documents from inside.

Israel warns before strikes by text message, phone call, leaflet, and broadcast; opens corridors and pauses operations so civilians can leave; and tracks civilian presence down to the individual building. Spencer personally watched missions delayed and scrapped because children were nearby. He watched Israeli troops take incoming fire and be ordered not to return it, because civilians might be hit.

Soldiers were ordered to absorb enemy fire rather than risk killing a civilian.

That is not a mitigated form of genocide. It is its inverse. Genocide does not order its own men to bleed in order to spare the other side’s children.

On aid, Spencer states flatly that no military in history has delivered more humanitarian assistance to an enemy population during wartime. Over 94,000 trucks carrying more than 1.8 million tons of aid have entered Gaza. Israel has supported hospitals, repaired water pipelines, expanded clean water access, and enabled more than 36,000 patients to leave Gaza for treatment abroad. The IDF coordinated millions of vaccine doses and supplied fuel for hospitals and infrastructure. The Gaza Humanitarian Foundation alone has delivered more than 82 million meals.

Name the genocide that vaccinated its victims. Name the extermination that repaired the water supply. History is invited to produce one.

The Numbers

Bartov cited Hamas health authority figures without question — 58,000 dead, 17,000 of them children. Spencer points out that these come from a terrorist organization, that they blend civilians with combatants, and that they classify anyone under eighteen as a child even though Hamas fields teenagers and younger children as fighters. The figures are not independently verified and have been shown to contain fabricated names, ages, and sexes. Civilian deaths in Gaza are a genuine tragedy — and they are also a deliberate component of Hamas’s strategy. An organization that stores rockets in schools is not a neutral statistician of the dead.

Then the argument that should end the conversation. If casualty totals alone established genocide, every major war in modern history would qualify. Two million civilians died in Korea — an average of 54,000 per month. Iraq and Afghanistan killed hundreds of thousands. The campaign against ISIS flattened entire cities and killed tens of thousands. None of them was called genocide. Not one.

The word is reserved for Jews. That reservation is itself worth a moment’s reflection.

Spencer’s summary is blunt: what is happening in Gaza is tragic, but it is not genocide, and it is not illegal.

Words spoken from City Hall do not stay in City Hall. They travel. They are heard in Crown Heights and Borough Park, on the Columbia campus, outside shuls on Riverside Drive. And a word like “genocide” does not merely describe. It authorizes.

Tell a young man that the Jews are conducting a genocide, and you have not merely informed him. You have handed him a moral emergency — and emergencies license conduct that ordinary times forbid. The logic is not subtle: if genocide is underway, then anyone who does not oppose it by any available means is complicit. The grocer in Midwood becomes a legitimate target of that emergency. The teenage girl in a day school uniform on the 4 train becomes a legitimate target. The man in a yarmulke walking home on a Friday afternoon becomes a legitimate target.

New York has already watched this sequence run. It has watched swastikas appear on synagogue doors. It has watched Jews assaulted on its streets, in daylight, in this century.

The words come first. They always come first. There has never once been an exception. Jews hold four thousand years of data on this sequence, and Tisha b’Av is the day set aside to review the file.

A peaceful Tisha b’Av was wished upon us. But peace on Tisha b’Av is not a mood. It is a condition. It requires that Jewish children get home from school. It requires that a man in a shtreimel not calculate his route. It requires that the accusation flung casually into a microphone not become the justification whispered before the fist is thrown.

The central request your Jewish constituents are asking costs nothing but courage.

Retire the word.

Not because it is uncomfortable. Because it is false — and because a man who has been inside Gaza four times, who read the operational orders, who has commanded soldiers in combat and taught the law of armed conflict for decades, examined this accusation in detail and found it unsupported.

Spencer’s own closing: the law matters, precision matters, and above all, truth matters.

It takes a large man to say he was wrong. The Mayor wished us a peaceful fast; that wish can be honored with a single act of precision, and precision, this once, would be a form of protection.

Retract the word. Or defend it — publicly, against Spencer’s evidence, on the merits, with the operational orders on the table. Either is honorable. What is not honorable is repetition without examination.

And apply the universality that was invoked. If the standard is truly universal, then say plainly that October 7 was a genocidal act, or stop applying that word to the war that followed it. The one thing the standard cannot mean is one vocabulary for Jewish dead and another for Jewish soldiers.

But look first.

May the Al-mighty grant the Mayor the strength to do the harder, better thing.

The author can be reached at [email protected]

A new disagreement has reportedly emerged between Washington and Jerusalem over plans for the “day after” in Gaza, with the United States pressing to accelerate the establishment of a new city in southern Gaza while Israel insists on security guarantees to prevent Hamas from returning to the area.

According to a report by Walla’s Amir Bohbot, the U.S. has urged Israel to quickly complete construction of the new complex near Rafah and transfer responsibility for it to a multinational force. Israeli officials have reportedly objected, saying they will not agree unless there are firm guarantees that Hamas will be prevented from reestablishing itself in the area.

The report says the discussions are taking place as Hamas attempts to rebuild both its military and civilian infrastructure in Gaza, while Khalil al-Hayya, based in Qatar, has assumed leadership of the terrorist organization.

According to the report, American and Israeli officials continue working toward an agreement, though some believe the delay stems from concerns that the U.S.-backed plan in southern Gaza could have political ramifications for Israel’s current government ahead of the upcoming elections.

Meanwhile, the U.S. military has reportedly established a presence at an IDF base in the Gaza Division sector. The base has undergone extensive upgrades, including the construction of command centers, offices, sleeping quarters, and storage facilities for military equipment, weapons, and vehicles.

The report says the base is secured by U.S. troops armed with assault rifles who patrol the area in military vehicles. Dozens of Humvees and armored trucks have already arrived for the future multinational force, with hundreds more military vehicles expected in the coming weeks.

At the same time, the IDF and Israel’s Defense Ministry are continuing preparations for Gaza’s post-war reality, including rebuilding border defenses, restoring damaged security barriers, and constructing additional advanced obstacle systems along the Gaza border.

(YWN World Headquarters – NYC)

Fidelity Investments released its 25th annual estimate of retiree healthcare costs, which revealed a significant jump from a year ago as medical care and related expenses become more expensive.

The report estimated that a 65-year-old who retires in 2026 can expect to spend an average of $185,500 on healthcare and medical expenses throughout their retirement. That amount is an increase of 7.5% from last year amid rising healthcare prices, growth in the utilization of medical services and growing costs stemming from chronic conditions.

“Financial planning for retirement is about more than reaching a savings target, especially as retirement itself continues to evolve,” said Shams Talib, head of Fidelity Workplace Consulting.

“Whether Americans fully stop working, phase into their retirement, or pursue new ways to stay engaged, healthcare consistently remains one of the largest expenses they will face,” Talib added. “Providing a benchmark to consider can help them plan with purpose and more confidence.”

Fidelity’s report has been compiled each year since 2002 and yields an estimate designed as a benchmark for long-term planning around possible healthcare costs a retiree will incur despite standard Medicare coverage.

The estimate assumes enrollment in Original Medicare (Parts A and B), as well as Medicare Part D – which includes premiums, copayments and out-of-pocket costs for medical care and prescription drugs throughout retirement. The figure doesn’t include potential long-term care expenses.

Out of the total estimate of $185,500, Fidelity’s analysis finds that about 45% of that amount goes to monthly premiums for Medicare Part B and Part D.

Another 48% go to covering other medical expenses under Medicare cost-sharing provisions – such as copayments, coinsurance, deductibles for things like hospital visits and outpatient services.

That figure also includes other medical services that aren’t covered by Medicare plans, such as vision and hearing exams.

The final 7% of the total comes from out-of-pocket expenses, like co-payments and amounts that aren’t covered by Medicare Part D and are out-of-pocket expenses for generic, branded or specialty drugs.

“Medicare is a critical part of retirement health coverage, but it does not eliminate every healthcare expense,” said Steve Betts, head of Fidelity Health.

“This estimate helps illustrate why both pre-retirees and retirees alike will benefit from carefully considering out-of-pocket expenses and how they will pay for them as they build out their retirement income strategy,” Betts added.

Elon Musk used Tesla’s second-quarter earnings call Wednesday to make his case directly to skeptical investors, insisting that the company’s enormous spending on artificial intelligence and robotics will ultimately deliver outsized rewards even as the near-term costs weigh on profits.

“This is a massive capex year,” Musk told analysts, adding that he was confident the investments the company is making will yield “incredible returns.” The pitch is by now familiar: Musk has spent the past two years recasting Tesla from an electric-vehicle maker into what he calls a physical AI company, built around self-driving robotaxis, the Optimus humanoid robot, and the computing infrastructure needed to run them. Wednesday’s message to shareholders was, once again, to judge the company less by what it sells today than by what it promises to deploy tomorrow.

The operational numbers gave Musk something to work with. Tesla delivered 480,126 vehicles in the quarter, up sharply from 384,122 a year earlier and ahead of Wall Street’s expectations — a rebound in the core auto business after a stretch of declining deliveries. Revenue reached $28.24 billion, comfortably above the roughly $25.7 billion analysts had projected. The energy division continued to emerge as a genuine counterweight to autos: Tesla deployed 13.5 gigawatt-hours of energy storage in the quarter, up from 8.8 gigawatt-hours in the first quarter and 9.6 a year ago, riding demand for grid-scale batteries tied to renewables, data centers, and network stability.

But the profitability picture complicated the story. Adjusted earnings of $0.33 per share fell well short of the roughly $0.51 analysts expected, and automotive gross margin came in at 16.3 percent, below the 18 percent Wall Street had modeled. The gap between strong top-line growth and shrinking margins captures the central bet: Tesla is trading current profitability for an AI-and-robotics future that has yet to prove itself commercially.

That is where investor patience is being tested. The businesses Musk points to as the source of those “incredible returns” remain early. Tesla’s robotaxi service, which Musk once said would reach half the U.S. population by the end of last year, currently runs in only a handful of cities after a broader rollout failed to materialize on schedule. On Full Self-Driving, the company has not released the kind of intervention-rate data that would let outside observers independently verify how close the technology is to genuine autonomy. Optimus, which Musk has described as potentially Tesla’s biggest product ever, has not yet reached production scale.

Retail shareholders have made their impatience plain. Ahead of the call, nearly all of the most popular questions submitted through Tesla’s investor relations site focused on the AI strategy — robotaxis, Optimus, Full Self-Driving, and the Cybercab — with one top-ranked question bluntly asking what is holding the company back from hitting the targets it set for itself. The gap between Musk’s timelines and Tesla’s delivered results has become the defining tension around the stock.

The scale of the wager is enormous. Tesla has committed to more than $25 billion in capital spending this year, roughly three times its 2025 outlay, directed at AI training, chip design, robotaxis, and humanoid robots. The company has told investors to expect negative free cash flow as that money goes out the door, and management has signaled the elevated spending will persist for years. To support the effort, Tesla has been ordering chip-making equipment and deepening a partnership with Intel on advanced AI chips, extending its ambitions into semiconductor production itself.

One tailwind has come from an unexpected direction. The surge in gasoline prices following the outbreak of the U.S.-Iran conflict earlier this year has helped lift EV demand, feeding the cash flow that partly funds Tesla’s AI push — a reminder of how tightly the company’s fortunes remain tied to the traditional auto market even as Musk points it elsewhere. Vehicles still account for roughly 70 percent of Tesla’s revenue.

For now, Musk is asking investors to extend their patience on the strength of his conviction. Whether that conviction converts into the returns he is promising — and on what timeline — is the question Wednesday’s report left hanging, as it has for several quarters running.

JBizNews Desk | Austin, Texas

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A U.S. Secret Service agent assigned to Vice President JD Vance’s protective detail has been placed on administrative leave amid an internal investigation into the alleged leak of sensitive information about the vice president’s travel plans, according to multiple reports.

CNN, citing sources familiar with the matter, reported that the agent is suspected of providing details to members of the media regarding Vance’s travel schedule. A second source confirmed that officials have identified a person believed to be responsible for the leak.

The investigation is being handled by the Secret Service’s Office of Professional Responsibility. It remains unclear whether any criminal charges will be filed.

According to the report, investigators believe the agent was a source for a recent news article describing frustration among members of Vance’s protective detail over the vice president’s personal travel schedule.

The report also included details about a planned trip in which Vance was expected to fly with his son aboard a Marine Corps helicopter to a golf lesson. That trip was ultimately canceled, but officials were reportedly alarmed that such operational information had been disclosed.

Sources said the alleged leak drew immediate attention from senior officials at the Secret Service, the FBI, and the White House, who were angered by the disclosure of sensitive security details.

The investigation comes amid heightened scrutiny over leaks involving high-level government security operations. Earlier this month, four New York Times reporters were subpoenaed to testify before a federal grand jury as part of an investigation into reporting on security arrangements involving the new presidential aircraft gifted to President Donald Trump by Qatar.

(YWN World Headquarters – NYC)

WASHINGTON — The U.S. House of Representatives on Wednesday, July 22, approved a Republican budget resolution that lays the foundation for a $95 billion budget reconciliation package, advancing one of the Trump administration’s top legislative priorities before lawmakers leave for the August recess. The measure passed by a narrow 216-214 vote and now shifts attention to the Senate, where Republicans face procedural and political hurdles before the package can become law. 

The vote does not authorize spending by itself. Instead, it establishes budget instructions allowing House committees to draft legislation that can later be combined into a reconciliation bill, a process that enables certain budget-related measures to pass the Senate with a simple majority rather than the traditional 60-vote threshold. That procedural advantage has made reconciliation one of the most powerful legislative tools available to a congressional majority. 

Under the framework approved Wednesday, Republicans would be permitted to assemble legislation providing $60 billion for the Department of Defense, $13 billion for intelligence and national security programs, $12 billion in assistance for U.S. farmers, and $10 billion for grants helping states implement voter identification requirements, together totaling up to $95 billion. Supporters argue the package addresses national security needs, agricultural relief, and election administration priorities. 

Speaker Mike Johnson and House Republican leaders pressed for passage after the White House urged lawmakers to move quickly on funding tied to military operations involving Iran while also advancing domestic priorities. The close vote reflected continued divisions within the Republican conference, with some conservatives objecting that the proposal does not include offsetting spending reductions, while Democrats opposed both the funding priorities and the election-related provisions. 

For businesses and financial markets, the vote signals that Congress is preparing another significant fiscal package even as lawmakers continue negotiations over annual government funding ahead of the September 30 fiscal deadline. Defense contractors, agricultural suppliers, election technology vendors, and companies serving federal agencies could all monitor the legislation closely as committees begin writing the underlying bill. Because the House resolution is only the procedural first step, the final legislation could differ substantially from the blueprint approved Wednesday. 

The Senate’s path remains uncertain. Senate Republicans must determine whether every provision complies with the chamber’s reconciliation rules, including the Byrd Rule, which limits what can be included in budget reconciliation legislation. Provisions that fail those tests could be removed or rewritten before a final package reaches the Senate floor. 

Congressional committees are expected to begin drafting the detailed legislative text in the coming weeks. Any final reconciliation bill would still require approval by both chambers before being sent to President Donald Trump for his signature. 

JBizNews Desk | Wall Street

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BRUSSELS, — The European Commission has conditionally approved Paramount’s proposed $110 billion acquisition of Warner, concluding the transaction no longer raises significant competition concerns after Paramount agreed to terminate a longstanding European film distribution agreement with Universal Pictures.

The approval removes one of the transaction’s most significant regulatory hurdles in Europe, though the merger remains subject to additional closing conditions and reviews in other jurisdictions. European regulators determined that ending the distribution arrangement addresses concerns that the combined company could have gained excessive leverage over the licensing and distribution of films across key European markets.

Competition officials had focused on whether the merger would reduce consumer choice, weaken bargaining power for cinemas and distributors, or limit opportunities for rival studios. By agreeing to unwind the existing distribution partnership, Paramount satisfied the Commission that the transaction would preserve competitive conditions within the European theatrical distribution market.

The merger would create one of the world’s largest entertainment companies, combining Warner’s extensive film, television and streaming portfolio with Paramount’s movie studios, broadcast networks and global content library. Industry executives have argued that greater scale is increasingly necessary as traditional media companies compete with technology giants and streaming platforms for viewers, advertising and premium content.

Investors have closely followed the regulatory process because the combined company is expected to pursue significant cost savings through operational efficiencies, content integration and international expansion. At the same time, analysts continue to watch whether further divestitures or behavioral commitments could be required by other competition authorities before the transaction closes.

The European Commission’s decision is likely to be viewed as an encouraging milestone for the companies, demonstrating regulators remain willing to approve large media consolidations when targeted remedies sufficiently address competitive concerns rather than requiring broader structural breakups.

For media companies, advertisers and investors, the decision also signals that regulators continue to scrutinize distribution arrangements alongside ownership concentration, particularly as streaming and traditional film distribution become increasingly interconnected.

JBizNews Desk | Wall Street

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JERUSALEM (VINnews) – The Israel Defense Forces and Israel Security Agency announced Tuesday that they eliminated a Hamas terrorist who infiltrated Israeli territory during the Oct. 7, 2023, massacre, along with two additional Hamas operatives in a joint strike in the northern Gaza Strip.

The primary target was Abdallah Jahja, a member of the naval force of Hamas’ military wing. Jahja entered Israel during the Oct. 7 attack and, throughout the war and in recent days, advanced maritime terror attacks targeting IDF troops and Israeli civilians, the IDF and ISA said.

Also killed in the operation were Mohammed Al-Hawari, a cell commander in Hamas’ Zeitoun Battalion, and Sabhi Saqallah, an observation operative in the same battalion. Both had advanced terror attacks against IDF forces and Israeli civilians, according to the announcement.

The IDF and ISA said the three were eliminated to remove the ongoing threat they posed.

OpenAI President Greg Brockman conceded this week that Chinese startup Moonshot AI has built a genuinely competitive model in its newly released Kimi K3, while stopping short of saying whether the firm had leaned on OpenAI’s own technology to get there.

In an interview Tuesday, Brockman called K3 “a pretty good model” and said there was no question about its quality — a notable acknowledgment from an executive at the company whose flagship systems the Chinese release is chasing. Pressed on whether Moonshot had piggybacked on OpenAI’s technology through distillation, Brockman said he wasn’t sure. The remark keeps alive a contentious industry accusation without escalating it, even as OpenAI and its American rivals weigh how seriously to take the fast-narrowing gap with Chinese labs.

Moonshot unveiled Kimi K3 on July 16, and the specifications alone drew attention. The model is a 2.8-trillion-parameter mixture-of-experts system that Moonshot describes as the largest open-weight model built to date, with a one-million-token context window and native vision. It activates only a small fraction of its experts on any given token, a design choice that keeps running costs down relative to its enormous size. Full weights are scheduled for release, which would let any company self-host or fine-tune the model rather than pay to access it through an API.

On performance, Moonshot’s own benchmarks position K3 just behind the leading American systems — Anthropic’s Claude Fable 5 and OpenAI’s GPT-5.6 Sol — while claiming it outperforms the next tier down, including Claude Opus 4.8 and GPT-5.5, on coding and agentic tasks. Independent evaluators have been broadly supportive. One widely watched testing platform ranked K3 first in its front-end coding benchmark, placing it ahead of Fable 5 in blind developer trials. Analysts caution that some of Moonshot’s efficiency claims still await independent verification through the model’s full technical report.

The commercial pressure comes from price. Bank of America analysts noted that while K3 carries the highest usage price yet for a Chinese model, it still runs at roughly half the cost of OpenAI’s top-tier GPT-5.6 Sol. For enterprise buyers weighing capability against spend, a model that lands near the frontier at half the price of the most expensive American option is a direct competitive threat — and the open-weight release only sharpens it, since distilled, smaller versions of K3 could soon run on consumer hardware while retaining much of the original’s ability.

That open-weight strategy is reshaping the economics of the industry, and markets took notice. K3’s debut, which coincided with a speech by Chinese President Xi Jinping at the World Artificial Intelligence Conference in Shanghai, rattled investors. U.S. chip stocks sold off, with shares of Nvidia among those pulled lower as traders reassessed the competitive landscape. The reaction cut across China’s own AI sector as well: shares of rival model builder Z.ai plunged 28 percent, and MiniMax fell 16 percent, as the release raised the bar for every lab trying to prove its own systems.

Moonshot itself has become one of China’s better-capitalized model builders. Founded in 2023, the Beijing-based company raised $2 billion at a valuation north of $20 billion earlier this year, with backing from Chinese technology giants Alibaba and Tencent. It has not disclosed what hardware it used to train K3, though it is a partner of Huawei — a detail that feeds the broader question of how Chinese labs are advancing despite U.S. restrictions on access to advanced chips.

The distillation issue that Brockman declined to settle is a live dispute across the industry. Distillation involves training a smaller or newer model on the outputs of a stronger one, and while it can be a legitimate technique, American labs have accused Chinese firms of using it to extract capabilities they didn’t build. Anthropic earlier this year accused Moonshot, DeepSeek, and MiniMax of campaigns to illicitly draw on its Claude models to improve their own systems — a charge Beijing has called groundless. Brockman’s uncertainty leaves OpenAI’s position deliberately open.

For the business of artificial intelligence, K3 crystallizes a shift that executives on both sides of the Pacific are now confronting: the performance gap between open Chinese models and closed American ones appears to have shrunk from a comfortable lead to a matter of a few months. That compression pressures pricing, upends assumptions about proprietary moats, and forces U.S. labs to justify premium costs against increasingly capable, cheaper, and freely available alternatives.

JBizNews Desk | San Francisco

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n how it became the 14th largest economy in the world?

Florida is no longer simply competing with rival says; it is also competing with global markets by bringing in money, skill, and corporations at a historically high rate.

The Sunshine State’s$ 1.8 trillion business, according to new information from the Florida Chamber of Commerce, is now No. The Florida Chamber Foundation rates Florida as 14th worldwide. According to the Chamber, the rank demonstrates the government’s commitment to streamlined regulations, free enterprise, and lower taxes.

According to Florida Chamber of Commerce President and CEO Mark Wilson,” the best way to help America advance is to have Florida lead the country ahead in terms of free enterprise and freedom.” All benefits if we followed Florida’s example.

Florida’s ranking increased to No. next year, according to the Chamber. 14th among the world’s top 14 economies in terms of gross domestic product ( GDP ). The Chamber claims that the state’s economy overtook Australia and Mexico for the state’s$ 1.8 trillion economy, which is up 6.3 % over the previous year. South Korea is currently second, behind Florida. 13 and would require roughly 2 % more growth to surpass it and about 21 % more growth than Canada, which is No. 10.

As Gulf Coast enters a MULTIBILLION-DOLLAR BOOM, CALIFORNIA WEALTH CHARTS A QUIET PATH TO FLORIDA.

Wilson remarked,” We’re trying to grow the personal business while shrinking the government business.” When you look at New York, Illinois, New Jersey, Minnesota, and California, you see the “death loop,” as I previously mentioned. They continue to impose more stringent government regulations, force people to leave their claims, or encourage them to do so, which only serves to strengthen our commitment.

Although the normal population movement in Florida has stabilized from its post-pandemic peak to around 500 to 600 people per day, the money movement has remained steady at over$ 4 million every minute. According to Wilson, “places like New York and California are losing population, they’re losing wealth, they’re losing businesses, and places like Florida are gaining]them ]” and that metric has remained stable.

Chamber data shows that Florida ranks No. 1 in the fields of commerce, agriculture, and construction, despite Florida’s fundamental industries. # 1 nationally for the rise of manufacturing jobs and new business startups. Additionally, Wilson cited growth in the$ 11.6 billion modeling-and-simulation sector in Central Florida as well as in aerospace, defense, fintech, healthcare, logistics, and fintech.

The CEO said,” This has been a 20-year plan, which is the secret sauce for us in Florida.” We’ve been on an ultra-focused path to doing the right points from a policy aspect so that we can develop Florida the right way, according to the governor, the government, and virtually all of us in the business community. But that people can work, people can live the American desire, and we can demonstrate how to do it to the rest of the world.

According to Wilson, operating a state like a business with low debt protects local businesses from Washington’s debt crisis and the turmoil in the country’s economy. According to the Chamber, Florida has the lowest state debt per capita at less than$ 1, 000 per resident. In contrast, each resident of New York owes more than$ 6,500 in state debt.

However, according to a recent Bloomberg analysis, the combined cost of living in the” Gold Coast” &mdash, which is dubbed the” Gold Coast,” is roughly 5 % higher than in the New York metropolitan area and its environs.

Wilson said,” We’re going to do a deep dive into that [report], because it really doesn’t examine Miami to New York City.” ” And what we’re looking at is more than just the cost of living,” he continued. Walk the streets of Miami at evening safely because it is now one of the safest places in the country. Some of these features are not often affordable because you can’t.

According to the leadership in the Miami region, I’ve spoken to them and we’re working together to ensure that more and more people in Florida have cheap housing options while improving an previously fantastic educational system.

Wilson also addressed critics who claim the flood has increased housing costs and prices for working-class families by talking about famous billionaires and major corporations moving to the Sunshine State.

He said,” They’re looking for places where they can be welcomed.” There is no doubt that when a lot of money goes into an area, it may raise the cost of living there. A lot of entrepreneurs are relocating to Florida, but they’re furthermore investing in Florida businesses. It is without a doubt true; however, it also has an enormous price proposition: more wealth, more jobs, and more businesses.

” I do love it if the middle class and billionaires were to leave New York, Illinois, or California.” And there is no one to pay the taxes.

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By the end of the decade, Florida is assured that Wilson and the Chamber will be ranked among the top ten nations. A 10-year proper plan with a focus on the areas of life sciences, security, ag-tech, commercial room, logistics, and cybersecurity is included in the Florida 2030 Blueprint.

We all recognize that we have a nation to save, according to the Chamber CEO, “because we have all the branches, from learning to system, to taxes to regulations to dispute,” the CEO said. In some ways, “if we’re better than other states in some metrics, those states is up our game.” We will study from some states, and that will improve America, if they find some things that Florida is learn from.

FOX BUSINESS: Less

NEW YORK — Global staffing firm Randstad said Wednesday that hiring demand is beginning to improve after nearly two years of slower recruitment, signaling that employers are cautiously expanding hiring despite continued economic uncertainty. Executives discussed the trend as the company released its latest quarterly financial results, pointing to early signs that labor markets may be stabilizing across several industries.

Randstad said demand remains uneven by sector, with technology, healthcare, engineering, logistics and skilled trades continuing to outperform other parts of the labor market. Companies remain selective in filling positions but are gradually increasing recruitment activity after delaying hiring through much of the past two years.

For businesses, the improving hiring environment reflects growing confidence that economic conditions are becoming more predictable. While many employers continue monitoring interest rates and inflation, companies are increasingly filling positions that were postponed during periods of uncertainty.

The labor market remains particularly competitive for workers with specialized skills. Demand for professionals in artificial intelligence, cybersecurity, cloud computing, advanced manufacturing and healthcare continues to exceed available supply, placing upward pressure on wages in those fields.

Small businesses are also beginning to expand hiring, although many continue reporting difficulty finding qualified workers. Higher labor costs remain a challenge, especially for employers in retail, hospitality and transportation, where wage growth has remained elevated.

Economists continue viewing employment as one of the strongest indicators of overall economic health. A steady labor market supports consumer spending, which accounts for the majority of U.S. economic activity, while helping businesses maintain revenue growth across multiple industries.

Financial markets are closely monitoring employment trends because they remain a key factor influencing Federal Reserve policy. Continued job growth alongside moderating inflation could support a more stable economic outlook during the second half of the year.

Business leaders will now look toward upcoming U.S. employment reports and additional corporate earnings for confirmation that hiring momentum is continuing across a broader range of industries.

JBizNews Desk | New York

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Meta CEO Mark Zuckerberg unveiled the company’s latest vision for artificial intelligence Wednesday, arguing the technology should empower people rather than replace them.

The social media giant released a new video outlining its approach to AI, contrasting it with what it described as a growing “fear” or “dystopian” narrative surrounding the rapidly evolving technology.

The announcement comes as major technology companies race to shape the future of artificial intelligence, with Meta positioning itself as a company that believes AI should benefit everyone.

“Meta has always believed in giving people the power to share, connect, and shape your world in the ways you want,” Zuckerberg said.

“As we enter this next wave with AI, we continue to believe the future is for everyone,” he continued. “We’re focused on giving every person the tools to reach your full potential and making sure the benefits of technology are distributed to everyone.”

In the video, Meta pushed back on concerns that artificial intelligence will make people less connected or leave them behind.

“Some people will have you believe AI will make us less connected, that it’s gonna leave us behind,” the video says. “We couldn’t disagree more. Call us optimists, call us dreamers. Just as we’ve always done, we’re betting on people.”

Meta said it has connected more than 3.5 billion people and 200 million small businesses across its platforms during its 22-year history.

The company argued AI is simply the next chapter of that mission.

“Because while technology will change, our intention behind it never will,” the video says. “The future we see is one with less barriers and more breakthroughs. More tools designed to unlock your imagination. Bigger engines to drive your ingenuity.”

Meta said advances in artificial intelligence will help build stronger communities and create more meaningful connections.

“We like those odds,” the company said. “The future is for everyone.”

After standing on opposite sides of Israel’s deepest public debates, a Chareidi publicist and a member of a returned hostage’s family are showcasing an unlikely friendship and calling for unity.

On Erev Tisha B’Av, Yedioth Ahronoth chose to feature a message of unity on its front page, at a time when old divisions once again threaten to tear Israeli society apart. At the center of the front page were Chareidi journalist and publicist Yisrael Cohen and screenwriter Chen Avigdori, beneath the headline: “A Bridge Over the Abyss.”

The article describes the unlikely friendship between the two, which began following the October 7 massacre, when Avigdori’s wife and daughter were kidnapped to Gaza. Avigdori turned to Cohen and asked him to help connect the Chareidi public to the campaign for the hostages’ return and to the mitzvah of redeeming captives.

Cohen joined the effort, working to connect the Chareidi public with the pain of the hostages’ families. He accompanied them to meetings with Gedolei Yisrael, and l’havdil, political party leaders, and helped organize tefillah gatherings and spiritual initiatives for the return of those held in captivity.

In recent months, they once again found themselves ideological opponents over the issue of military conscription, yet they continue trying to preserve their friendship.

“For the past several years we’ve usually been on opposite sides,” Cohen said. “During the Kaplan protests, over the draft issue, and generally regarding Chareidi-secular relations and matters of religion and state. But we’ve come to know each other personally as human beings who both want to do good. Chen is a friend, and I remember how he called me after October 7 and asked that the Chareidi public mobilize for the mitzvah of redeeming captives. Together, along with many other good people, we organized a tefilla gathering attended by tens of thousands at the Kosel and many other meaningful efforts on behalf of the hostages.”

Avigdori described the relationship that developed between the two under painful circumstances and continues to this day.

“At the beginning, I realized that we, the hostages’ families, didn’t really know the Chareidi public or understand how they felt and thought,” he said. “Thanks to Yisrael, we met Rabbi Druk and embarked on a journey to visit Rabbanim in Bnei Brak. They spoke a great deal about tefillos, while we wanted to hear about practical action.”

According to Avigdori, one of the Rabbanim told him that he could not call on his community to join the marches because of concerns related to standards of tznius. “I respected that, of course,” Avigdori said. “But he promised me, ‘You’ll know that we’re with you.'”

“When we walked to Jerusalem during the massive march in November 2023, we reached the Kiryat Ye’arim interchange and saw thousands of people standing there with yellow balloons, singing pessukim about redeeming captives and davening with us and for us. At that moment I understood that despite all our differences, we are one people. We have different cultures, but we also share a common destiny and a genuine sense of mutual responsibility.”

“Today we’re once again in the midst of deep disagreements,” Avigdori said. “My feeling is that the higher you go in the leadership, the more divisive the discourse becomes. Yet in personal encounters I discover a completely different reality.”

“In the end, the root of the disagreement is a lack of trust. Each side fears that if the other side wins, it will lose its own identity. The only way to deal with that is to create more opportunities for people to meet each other. The problem is that there are very few places where people can actually meet Chareidim. When we don’t know one another, we talk about ‘you people.’ The moment we sit face-to-face, it’s no longer possible to say ‘you people.’ There’s a human being sitting across from you.”

Avigdori continued: “There are stereotypes about me as well, simply because of how I look or how I speak, and once people get to know me, those stereotypes disappear. The same is true of Chareidim, settlers, Likud supporters, and every other group. I deeply respect another person’s beliefs, but that person also has to respect me and look me in the eye. On social media, people don’t look each other in the eye, so it’s easy to generalize, insult, humiliate, and curse one another.”

“I believe that the more we increase personal encounters and respectful dialogue—where each person first sees the human being standing before them—we’ll be able to preserve what we learned during our hardest moments: not to speak in terms of ‘us and them,’ but to look one another in the eye and speak as ‘I’ and ‘you.’ From there will come the conversations and the actions that connect the ‘I’ and the ‘you’ into what, ultimately, we all aspire to be—’we.'”

The decision to feature the two men on the newspaper’s front page on Erev Tisha B’Av transformed their personal story into a broader public message—not an attempt to blur genuine disagreements, but a call to conduct them without returning to the toxic discourse that preceded the tragedy.

“Even when we disagree, we must know how to preserve red lines, remember that what unites us is greater than what divides us, and remember that the Beis HaMikdash was destroyed because of sinas chinam,” Cohen concluded. “Precisely in these days, it is important to increase ahavas chinam, bring more light into the darkness, and act with a positive spirit of doing good for Am Yisrael.”

(YWN Israel Desk—Jerusalem)

Brookfield has agreed to acquire Aypa Power, one of North America’s largest utility-scale battery storage developers, in a transaction valued at about $7 billion, a deal that hands the Canadian asset manager a commanding position in one of the fastest-growing corners of the energy market and marks a lucrative exit for Blackstone.

The purchase, disclosed Wednesday, sees Aypa change hands from one alternative-asset giant to another. Blackstone acquired the company in 2020, when it was a Toronto-based, commercially focused storage outfit then known as NRStor C&I, and rebranded it as Aypa Power while steering it aggressively into the utility-scale market. Under Blackstone’s ownership the company relocated its center of gravity to Austin, Texas, and built out a development pipeline exceeding 22 gigawatts across the United States and Canada, with roughly 30 projects already operating or under construction. Blackstone had been exploring a sale since early this year, working with financial advisers to test buyer interest in a process that has now culminated in the Brookfield agreement.

For Brookfield, the deal is a statement of intent. The firm has been assembling one of the largest clean-power and energy-transition portfolios in the world, and battery storage has become the piece the grid can no longer do without. As wind and solar claim a larger share of electricity generation, storage is what smooths their intermittency, holding power when the sun is up and the wind is blowing and releasing it when demand peaks. That role has transformed batteries from an optional add-on into core infrastructure, and it has drawn a wave of institutional capital chasing the long-term, contracted cash flows these projects generate.

Aypa’s appeal lies in the scale and maturity of that pipeline. The company delivered its first storage project in 2018, giving it a head start in a market that has since become fiercely competitive, and it develops both standalone battery systems and hybrid projects that pair storage with renewable generation. Over the past year it has been active in the debt markets, closing a $1.5 billion construction warehouse facility earlier this year that it billed as the largest of its kind for a storage-focused independent power producer, along with hundreds of millions more in project-level financing across Texas, Ontario and beyond. That financial groundwork leaves Brookfield acquiring not a speculative developer but a platform with assets already generating revenue and a backlog ready to build.

The transaction also underscores how demand for electricity itself is reshaping the investment landscape. Power consumption is climbing as data centers, electrification and AI infrastructure strain existing grids, and storage sits at the center of the response. Deals of this size signal that the biggest capital allocators now view grid-scale batteries the way they once viewed pipelines and power plants: as durable, essential infrastructure worth paying up to own.

For Blackstone, the sale caps a roughly six-year hold that turned a modest Canadian storage business into a continental platform, and it frees capital to redeploy elsewhere in its sprawling energy and infrastructure operations. For Brookfield, the harder work begins now, converting Aypa’s vast pipeline into operating assets at a moment when supply-chain pressures, interconnection queues and financing costs remain live challenges across the sector.

JBizNews Desk | New York

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At the instruction of HaGaon HaRav Dov Landau, public tefilla gatherings and the recitation of Tehillim will take place in shuls throughout Israel on Motzei Tisha B’Av at 10:00 p.m., with tefillos for the yeshua of Klal Yisrael during this difficult period.

The call followed remarks delivered by the Rosh Yeshiva this week at a special kinus of community Rabbanim from across Israel, organized by the Ichud Bnei Yeshivos.

During his remarks, HaRav Landau referred to the difficult situation facing the Torah world in Eretz Yisrael.

“The state of galus in which we find ourselves is a difficult one that continues to drag on, and our obligation is to increase our tefillos,” the Rosh Yeshiva said. “Therefore, we call upon everyone to gather in all shuls on Motzei Tisha B’Av to call out with many tefillos and the recitation of Tehillim with outpouring of the heart and from the depths of our souls, so that Hashem may swiftly save us from all our troubles, those affecting both the community and individuals. The gates of tears and prayer have not been closed.”

The Rosh Yeshivah concluded with a tefilla: “May Hashem help us never to be ashamed or stumble, forever, and may we merit to witness the yeshuas Yisrael and the rebuilding of the Beis HaMikdash speedily in our days. Amen.”

(YWN Israel Desk—Jerusalem)

New York (VINNEWS/Rabbi Yair Hoffman) Until this past decade, Tisha B’Av was observed largely through text. Now watching online videos have added another element of observance.  The kinnos are recited, Eichah is chanted, the Gemara in Gittin is reviewed, and the churban is encountered in writing and reciting these words — words carried across nineteen centuries by a nation that refused to forget.

This is as it should be. Chazal preserved the memory in the only vessel that could survive exile.

But there is another new element that time has introduced to us – other than the Tisha b’Av videos.  Beneath the Old City of Yerushalayim, six meters below the pavement where Jews walk today, there is a second archive. It is written in ash and fractured limestone, and it has been read only in the last sixty years. What it says corresponds, with a precision that is almost difficult to absorb, to what our mesorah has said all along.

The Street That Was Crushed

For greater readability, this article was kept to less than 2500 words. So let’s begin at the southwestern corner of Har HaBayis. Herod’s expansion of Har HaBayis was carried on retaining walls of a scale that had few parallels in the ancient world.  At the southwest corner a monumental staircase rose on a broad stone arch, identified in 1838 by Edward Robinson and bearing his name ever since.

The arch carried people up from the Lower Market, across the Tyropoeon street, and into the Royal Stoa on the esplanade above. It was completed only decades before it was destroyed.

Beneath it ran a paved street, some twenty-eight feet wide, bordered by raised curbstones, lined with shops built into the vaults beneath the staircase. This was the commercial artery of the approach to the Mikdash. Olei regel walked it three times a year.

When Benjamin Mazar’s excavations cleared that street beginning in 1968, they found it under the stones that had been thrown down upon it. The Herodian ashlars from the walls above lie where they landed, and the pavement beneath them is crushed and buckled from the impact. The excavators did not reconstruct this scene. They uncovered it and left it. A visitor to the Davidson Center today stands beside a street that was smashed by falling masonry in the summer of 70 CE and never repaired, never cleared, never built over until the debris of the Tyropoeon Valley buried it entirely.

The ashlars were not the only thing that came down. Running across the southern end of Har HaBayis, Herod had built the Royal Stoa, a colonnaded basilica of four long rows of Corinthian columns forming three halls, the central one roofed at an especially great height. On the side facing the mount it stood unwalled, so that the Mikdash itself remained in view across the esplanade. Josephus judged it more worthy of description than anything else under the sun.

Mazar’s excavations along the southern wall recovered hundreds of limestone fragments from that structure — column bases and drums, Corinthian capitals, Doric friezes, modillion cornices — many of them well preserved and carved with floral and geometric motifs. They confirm, in stone, the magnificence Josephus described. But they also testify to something further. Many of the fragments were coated in a fine white crust, taken at first for decorative plaster.

Orit Peleg-Barkat and the geologist Aryeh Shimron established that it is not plaster at all. It is mineralogical residue left on the stone by a conflagration whose flames often exceeded a thousand degrees centigrade.

That figure should be held in mind. It will appear again, independently, half a mile away and four hundred feet higher, in the fractured walls of a private house in the Upper City.

The Gemara in Taanis and the kinnos speak of stones cast down. Here they are, still down.

Among the fallen blocks at the southwest corner, Mazar’s team recovered in 1968 a large maakeh – a parapet stone of a distinctive shape, lying on its side on the Herodian pavement roughly five feet from the corner. A niche had been cut into its inner face. Above the niche, incised in square Hebrew script, were the words — read right to left — l’beis ha-tekiah l’ha… The final word is broken. Scholars have proposed l’hachriz, to announce, or l’hakohen, for the kohen.

The first two words are complete and unambiguous: to the place of the trumpeting.

Josephus, in Wars IV.9.12, describes the point on the roof of the chambers of the Kohanim where a kohen would stand to sound the trumpet in the late afternoon announcing the approach of Shabbos, and again the following evening announcing its conclusion. The stone marked that station. It was a wayfinding sign, of the plainest kind, cut for the kohen whose task it was to tell all of Yerushalayim that Shabbos was imminent.

The blast could be heard across the City of David to the south and throughout the Upper City to the west. Every Jew in the city organized the week around it.

In many communities it is still done. We do it in Far Rockaway, although some question whether it is a chillul Hashem or not, since many goyim do not exactly appreciate it.

Regardless, the Romans threw that stone off the wall. It fell to the street below and lay there, face down among the rubble, for nineteen hundred years. The original is now in the Israel Museum; a facsimile stands at the site. There is no more concise physical statement of what was lost: the stone that announced the entry of Shabbos, hurled into the street and left in the dirt.

This was not incidental damage. Josephus records that the sanctuary caught fire when a soldier flung a burning brand through a gateway without orders, but what followed was deliberate policy: Titus ordered the city destroyed first by fire and then razed to the ground stone by stone. The fallen ashlars on the Herodian pavement are that order, carried out and never undone.

The Burnt House

In January 1970, Nachman Avigad’s excavation in the Jewish Quarter reached a room roughly a meter below the surface, with stone walls and a beaten earth floor. Avigad later wrote that no house witnessing the catastrophe of the Churban Beis HaMikdash in 70 CE had yet been excavated, and that his team was emotionally unprepared for what stood before them.

What emerged was a basement complex — a small courtyard, several rooms, a kitchen, a mikveh — part of a larger structure extending beyond the excavation limits, constructed near the beginning of the first century CE. Everything lay beneath a thick layer of ash, charred wooden roof beams, and collapsed stone. The limestone walls were scorched black and fractured, the fracturing consistent with temperatures exceeding a thousand degrees Celsius. Avigad concluded that this was systematic arson, not accidental fire, matching Josephus’s account precisely. The threshold is the same one the Royal Stoa fragments record. Two sites, two materials, two independent lines of laboratory evidence, one temperature.

Beneath the burn layer were the household’s belongings, in place. Dozens of ceramic and stone kailim. Glass perfume containers. Storage jars still holding grain. Cooking pots where they had been set down. Coins minted between 67 and 69 CE, fixing the date beyond argument.

And a stone weight, inscribed with a name: Bar Kathros.

The Kathros family is known from the Gemara. The passage in Pesachim 57a records the lament over the priestly houses that abused their power — woe to the house of Kathros, woe to their pens. The Gemara names them as one of the families whose conduct contributed to what came. In 1970 an archaeologist’s trowel turned that name from a line of aggadatah into a street address in the Upper City, and found the address burned to the ground.

There is one more find in that house. In the ash of the kitchen lay the bones of a young woman’s forearm, and beside it an iron spear.

The Upper City fell roughly a month after the Mikdash and the Lower City. Josephus records that when the legions finally stormed it they met little resistance, because much of the population was already dying of starvation and disease. This house belonged to a wealthy priestly family living within sight of the Mikdash. It did not save them. Organized resistance in the city ended on the twenty-sixth of September, 70 CE — some seven weeks after the Mikdash burned, deep into Elul, with the yamim noraim already approaching.

The Grain and the Tamid

The Upper City did not starve because the Romans were thorough. It starved because Jews had burned Jewish granaries. When the legions closed around Yerushalayim in the spring of 70 and cut every line of supply, the large stocks of grain within the walls had already been destroyed — not by the besiegers, but during the factional fighting among the defenders themselves. The siege did not create the famine. It sealed a city that had already burned its own food.

Yoma 9b assigns the churban to sinas chinam. The material and historical record does not prove that judgment, and cannot. But it does preserve the mechanism with an exactness that is hard to look away from. The storage jars in the Burnt House still held grain when the roof came down on them, in a quarter of a city where thousands were dying of hunger.

Through all of it the kohanim held to the avodah. The fighting raged, the walls fell one after another, and the customary offerings continued to be brought. The korban tamid was suspended only when there were no lambs left in the city to offer. The mishnah in Taanis records the cessation of the tamid as one of the five calamities of the seventeenth of Tammuz. Three weeks later the Mikdash was ash.

The most affecting artifact of the churban may be the smallest, and it emerged only recently.

The rebels minted their own coinage during the revolt, and the legends on those coins track the collapse of their hopes with terrible clarity. The coins of the second year read l’cheirus Tziyon — for the freedom of Zion. Freedom is a thing men achieve by their own hand, and in year two they still believed they would achieve it.

The Year Four coins, minted between Nissan of 69 and Adar of 70 CE, carry a different legend. The word cheirus is gone. In its place: l’geulas Tziyon — for the redemption of Zion.

Dr. Yuval Baruch of the Israel Antiquities Authority, who has worked that site for over twenty-five years, observed that the mood of the besieged rebels had shifted from euphoria and the anticipation of imminent freedom to a dispirited yearning for redemption. Another IAA scholar put the distinction more sharply: freedom is something people strive for through human action, but a plea for redemption suggests they were no longer relying on themselves. It was a cry for divine intervention.

Year Four coins are rare, for the obvious reason that the mint had less than a year left to operate.

In July of last year, excavators at the Jerusalem Archaeological Garden near the southwest corner of Har HaBayis recovered one such coin. Bronze, well preserved. A goblet on the obverse ringed by the words l’geulas Tziyon in ancient Hebrew script. On the reverse a lulav flanked by two esrogim, and the words shnas arba — year four.

Esther Rakow-Mellet, the IAA excavation director, described waiting anxiously for days while the coin was cleaned, and finding that it was a greeting from the Jewish rebels of Year Four. She noted that the find came a few days before Tisha B’Av.

Consider what is on that coin. A besieged population, months from annihilation, chose to stamp its money with a lulav and two esrogim. The symbols of Sukkos. Zman simchaseinu. They were starving, they knew the walls would not hold, and they put the emblems of rejoicing on their currency and asked not for freedom but for geulah.

Archaeology does not prove the Hashkafa of the causes of churban, and no excavation can adjudicate the question Chazal themselves answered in Yoma 9b regarding sinas chinam. The spade recovers what was done, not why it was permitted.

But the spade has established a great deal. That Yerushalayim burned in a deliberate, systematic conflagration in 70 CE. That the burning reached the wealthiest priestly quarter of the Upper City. That the walls of Har HaBayis were dismantled and their stones cast onto the streets below, where they crushed the pavement and were left. That a family named in the Gemara for its misconduct lived in a specific house that was destroyed in that fire. The correspondence between the material record and the received account is close, detailed, and in places startling.

The Kinnah Beneath the Pavement

There is a particular quality to the Second Temple destruction layer that distinguishes it from most archaeological horizons. It is generally the case that cities are rebuilt, that debris is cleared, that later construction cuts into and disturbs what came before. In Yerushalayim, at these locations, it was not. The stones lie where the legions threw them. The trumpeting stone lay face down on the pavement for nineteen centuries. Avigad’s rooms sat sealed beneath their own collapsed roof, undisturbed, until 1970.

The city was not restored to its owners in a condition permitting them to sweep up. That is itself the historical fact the layer records.

]Every year the kinnos are recited and every year the words are the same. What is new, in this generation, is that the stones have been permitted to give aidus alongside them. Jews who read of the churban in Eichah can now walk the street where it happened, look at the fallen ashlars, and read the sign that told the kohen where to stand to announce Shabbos.

The nation that was exiled from that street returned to it and dug it out with its own hands. That fact belongs to a different day on the calendar. But it is worth knowing, on the ninth of Av, who is holding the trowel.  May the Mikdash be rebuilt soon in our days.  Amain!

Sources

Josephus, The Jewish War, Books IV and VI. Nahman Avigad, Discovering Jerusalem, and the Jewish Quarter Excavations final reports (Israel Exploration Society), particularly Volume IV on the Burnt House of Area B. Benjamin Mazar, Temple Mount excavations 1968–1978. Israel Antiquities Authority announcements on the Year Four revolt coinage, Jerusalem Archaeological Garden–Davidson Center. Corpus Inscriptionum Iudaeae/Palaestinae, Jerusalem Part 1, on the Trumpeting Place inscription. Talmud Bavli, Pesachim 57a; Yoma 9b; Gittin 55b–58a. Orit Peleg-Barkat and Aryeh Shimron, on the Royal Stoa fragments and the burn residue, Biblical Archaeology Review, March/April 2010. John Merrill, “The Era of Roman Domination,” in Ancient Israel: From Abraham to the Roman Destruction of the Temple, 4th ed., ed. John Merrill and Hershel Shanks (Biblical Archaeology Society, 2021). Mishnah Taanis 4:6.

The author can be reached at [email protected]

ATLANTA — PulteGroup reported Wednesday that second-quarter profit declined as elevated mortgage rates and persistent affordability challenges continued to weigh on homebuyer demand, prompting the homebuilder to expand financing incentives to maintain sales. The results, released in the company’s quarterly earnings report, underscore the continued strain facing the U.S. housing market despite steady demand for new homes.

The company said higher borrowing costs remain the biggest hurdle for prospective buyers, leading it to offer more mortgage-rate buydowns and closing-cost assistance rather than broad price reductions. While customer traffic has remained relatively stable, affordability continues limiting purchasing decisions across many markets.

Mortgage rates remain significantly above the historic lows seen earlier this decade, leaving many first-time buyers unable to qualify for homes they could have afforded just a few years ago. Existing homeowners also remain reluctant to sell because doing so would require replacing their low-rate mortgages with substantially more expensive financing.

The effects extend well beyond residential construction. Slower home sales affect mortgage lenders, furniture retailers, appliance manufacturers, moving companies, building suppliers and local contractors that depend on a healthy housing market.

Builders have largely resisted widespread price cuts, choosing instead to preserve home values through targeted financing incentives. Industry executives believe this strategy better positions the market should borrowing costs eventually ease and buyer demand strengthen.

Housing remains one of the most closely watched sectors of the U.S. economy because it influences consumer spending, employment and manufacturing activity. Economists continue monitoring whether affordability conditions improve enough to stimulate additional sales during the second half of the year.

Investors will now turn their attention to upcoming housing starts, existing-home sales, mortgage application data and future Federal Reserve decisions for additional clues about the direction of the residential real estate market.

JBizNews Desk | Atlanta

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WASHINGTON — U.S. Trade Representative Jamieson Greer said Wednesday he is working to reach interim trade arrangements with Canada and Mexico before the end of the year, providing businesses greater certainty while the formal review of the United States-Mexico-Canada Agreement (USMCA) continues. Greer outlined the administration’s objective during remarks on the ongoing negotiations, signaling an effort to avoid disruptions to North America’s deeply integrated supply chains.

The USMCA governs more than $1.8 trillion in annual trade among the three countries and serves as the foundation for cross-border commerce involving automobiles, agriculture, energy, manufacturing, electronics and consumer goods. Businesses have been seeking greater clarity as negotiations over the agreement’s future continue.

Greer said interim arrangements could help companies make investment and production decisions without waiting for the completion of broader negotiations. Manufacturers, retailers and logistics firms have warned that prolonged uncertainty surrounding tariffs and trade rules complicates long-term planning and increases operating costs.

The automotive industry remains among the sectors most affected. Vehicles assembled in North America often cross the U.S., Canadian and Mexican borders multiple times before reaching dealerships, making stable trade rules essential for production schedules and supply-chain efficiency.

Agricultural producers are also closely watching the talks. The United States exports billions of dollars in corn, soybeans, dairy products, meat and other agricultural goods to Canada and Mexico each year, while American consumers rely heavily on imported produce and manufactured food products from both neighboring countries.

For consumers, the outcome could influence the prices of automobiles, groceries, appliances, construction materials and other imported goods. Business groups have argued that reducing uncertainty can help stabilize supply chains and limit additional costs that may eventually be passed on to customers.

Financial markets viewed Greer’s comments as a sign that the administration is seeking continuity rather than disruption in North American trade while preserving flexibility for future negotiations. Companies with operations spanning all three countries are expected to monitor every stage of the review process closely.

Additional meetings among U.S., Canadian and Mexican trade officials are expected in the coming months as negotiations continue toward the scheduled review of the agreement.

JBizNews Desk | Washington

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Alphabet raised its capital-spending forecast for a second time this year on Wednesday, telling investors it will pour even more money into the data centers and computing power behind its artificial intelligence push — a move that delivered strong quarterly results but reignited Wall Street’s unease about the mounting cost of the AI race.

The Google parent now expects 2026 capital expenditures of $195 billion to $205 billion, up from the $180 billion to $190 billion range it set just last quarter and well above the roughly $186 billion to $188 billion analysts had penciled in. Chief Financial Officer Anat Ashkenazi told analysts the higher range reflects an acceleration in bringing new capacity online to meet demand that continues to outrun supply. She reiterated that spending is set to rise again in 2027.

The revised outlook cements Alphabet’s position at the leading edge of Big Tech’s infrastructure arms race, in which the largest technology companies are collectively committing hundreds of billions of dollars this year to build out AI capacity. It also underscores a shift in how the company funds that growth: Alphabet has already raised $80 billion in fresh equity capital to help pay for the buildout, breaking from its long-standing habit of financing expansion internally.

The spending came alongside a quarter that, on the surface, was one of Alphabet’s strongest in years. Revenue rose 24 percent from a year earlier to $119.8 billion, topping the roughly $117 billion analysts expected and marking the company’s 12th straight quarter of double-digit growth. Google Cloud was the standout, with revenue surging 82 percent to about $24.8 billion — a sharp acceleration driven by enterprise demand for AI infrastructure and services, and a figure that comfortably beat expectations. Cloud operating profit more than tripled from a year ago, and the division’s order backlog has swelled to roughly $460 billion, a pipeline of contracted revenue that management points to as justification for the heavy spending. Advertising revenue, still Alphabet’s largest business, came in at $81.63 billion.

The bottom-line numbers require a closer read. Alphabet reported net income of $112.1 billion and diluted earnings of $9.11 per share, figures inflated by a one-time equity gain of roughly $98 billion. Stripping that out, the picture is more mixed: adjusted earnings of about $2.85 per share came in just shy of the $2.89 analysts expected, and underlying net income actually slipped from a year earlier. Operating income, which strips out one-time items, rose about 30 percent to $40.8 billion — a cleaner measure of how the core business performed during the quarter.

Investors focused on the spending. Despite the revenue beat and the cloud acceleration, Alphabet shares fell more than 2 percent following the report, a reaction that captures the central tension hanging over the entire sector. The market has grown increasingly sensitive to AI capital expenditures all year, worried that the returns on record infrastructure investment are arriving more slowly than the bills. Alphabet’s raise — a second consecutive increase stacked on April’s — fed precisely that anxiety, even as the company argued the spending is buying real growth.

Alphabet does have a clearer path from AI investment to revenue than some of its peers. Google Cloud gives it a direct commercial channel to monetize the infrastructure it is building, an advantage over rivals whose AI returns are harder to trace. That distinction has helped Alphabet’s stock hold up better than those of several competitors in recent months. The company also continues to push its own custom silicon and AI products, and Chief Executive Sundar Pichai told analysts that its Antigravity AI coding tool has climbed to more than 2.4 million weekly active users.

Still, the core worry is straightforward. If each new dollar of capacity requires ever-larger outlays while cloud growth eventually cools, the cost of staying competitive in AI could rise faster than the payoff. For now, Alphabet’s booming cloud numbers and near-half-trillion-dollar backlog give management a strong answer to that concern. But by lifting its spending ceiling yet again, the company has raised the stakes on proving that its AI bet will keep converting into growth — and set the tone for a Big Tech earnings season in which investors will be scrutinizing every capital-spending line that follows.

JBizNews Desk | Mountain View, Calif.

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Asian equities advanced Wednesday as chip stocks extended a global rebound, with MSCI’s Asia Pacific Index gaining about 1% on the heels of Tuesday’s strongest rally in a month.  It was a second straight day of gains for the region, with oil moving higher at the same time on renewed escalation in the U.S.-Iran conflict.

South Korea led. The Kospi surged 4.6% to 7,061.36, while Japan’s Nikkei 225 rose 1.9% to 67,511.12 after government data showed both imports and exports higher than a year earlier — figures inflated in yen terms by the currency’s weakness.  Australia’s S&P/ASX 200 added 0.4% to 8,830.60 and the Shanghai Composite gained nearly 0.5% to 3,882.95, while Hong Kong’s Hang Seng bucked the trend, dipping 0.7% to 24,947.30.

Samsung and SK Hynix paced the regional advance as selling pressure from leveraged positions continued to unwind, following a more than 5% jump in a U.S. semiconductor index on Tuesday that pulled it out of bear-market territory after the prior week’s selloff.

Market Movers

Japanese chip names joined the run, with Advantest up 2.8% and Tokyo Electron adding 1.8%. Renesas Electronics gained more than 6% and SoftBank Group rose 1.1%.

The rally did not extend to U.S. futures. Nasdaq 100 futures slipped 0.4% and S&P 500 futures edged lower as traders positioned ahead of Alphabet’s results for a fresh read on AI-related spending.

Commodities and Currencies

Brent crude rose 1.4% to $92.25 a barrel during the Asian session after President Trump played down the prospect of near-term peace talks with Iran, and the move pushed U.S. Treasury yields to a two-month high.  Crude kept climbing through the New York session, with Brent ultimately settling at $94.07.

Precious metals also gained, with gold climbing as much as 1.6% to roughly $4,142 an ounce and platinum higher alongside silver. In currencies, the yen stayed under pressure after weakening past 163 per dollar for the first time since 1986, with Japanese officials repeating warnings about the move.  Separately, sources indicated the Bank of Japan is watching upside inflation risks that could bring rate increases faster than markets currently expect.

The split matters for importers: crude above $91 raises the energy bill for Asian economies that buy most of their fuel abroad and can widen trade deficits, even while a softer home currency flatters the local-currency earnings of exporters that sell in dollars.  For tri-state importers sourcing from Asia, the combination points to firmer landed costs into the fall — currency gains on the invoice offset by freight and fuel surcharges on the way over.

JBizNews Desk | New York

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SEATTLE — Amazon confirmed Wednesday that it has eliminated positions within its Artificial General Intelligence (AGI) organization as the company continues reshaping its artificial intelligence strategy while maintaining billions of dollars in AI investment. The layoffs were confirmed by Amazon and come as major technology companies increasingly redirect resources toward projects with the greatest commercial potential.

The workforce reductions affect a portion of Amazon’s AGI organization, the unit responsible for developing advanced artificial intelligence technologies that power products across Amazon Web Services, Alexa and the company’s broader AI initiatives. Amazon said it continues hiring in other AI-related roles and remains committed to expanding its artificial intelligence capabilities.

The move reflects a broader trend sweeping the technology industry. Rather than reducing AI spending, many companies are reallocating engineers and capital toward projects expected to generate faster returns as competition intensifies among the world’s largest technology firms.

Artificial intelligence has become the centerpiece of corporate technology investment over the past two years, prompting companies to spend hundreds of billions of dollars on advanced chips, cloud infrastructure, software development and data centers. At the same time, executives face growing pressure from investors to demonstrate that massive AI expenditures will translate into sustainable revenue growth.

For employees, the restructuring highlights a changing labor market within the technology sector. While hiring has slowed in certain divisions, demand remains strong for engineers specializing in machine learning, cloud computing, cybersecurity and AI infrastructure.

Businesses using Amazon Web Services are not expected to see immediate changes in service availability. The company continues expanding AI tools and enterprise offerings designed to help organizations automate operations, improve customer service and accelerate software development.

The announcement also underscores how technology companies are becoming more disciplined in managing expenses while simultaneously investing aggressively in strategic areas. Investors have increasingly rewarded companies that balance innovation with profitability rather than pursuing growth at any cost.

As earnings season continues, Wall Street will closely monitor whether similar workforce adjustments emerge across the technology sector as companies report financial results and update investors on AI spending plans for the remainder of the year.

JBizNews Desk | Seattle

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