New questions are emerging about the status and whereabouts of Iran’s Supreme Leader, Mojtaba Khamenei, after reports indicated that communications between him and senior regime officials have been disrupted for more than a day, raising the possibility that Iran’s latest missile attack on Israel was carried out without direct authorization from the country’s leadership.

According to a report by Iran International, contact between Khamenei and top Iranian officials has been unreliable since Sunday night, just hours before Iran launched its most recent missile barrage against Israel.

A source familiar with the situation told the outlet that the attack appears to have been executed under pre-established military contingency plans rather than as the result of real-time coordination with Khamenei’s office.

The report suggests that Iranian military and Revolutionary Guard commanders may have relied on standing operational procedures that allow for an immediate response in the event that communication with the country’s leadership is severed.

The source further noted that the Revolutionary Guards’ reaction to the Israeli strike in Beirut’s Dahieh district came so quickly that it is unlikely a formal exchange of messages took place beforehand with Khamenei or members of his inner circle.

If accurate, the development could indicate that senior military officials activated an almost automatic response mechanism designed to ensure a rapid strike against Israel even during a breakdown in communications at the highest levels of the Iranian regime.

The report adds to growing uncertainty surrounding Khamenei’s condition and role since the outbreak of the war. Iran International previously reported that the first message attributed to him during the conflict was not delivered in his own voice or through a recorded appearance. Instead, the statement was read on state television alongside a still photograph, while Iranian authorities provided no direct evidence regarding his status or whereabouts.

{Matzav.com}

Israel’s Home Front Command announced Monday that nearly all restrictions imposed during the latest escalation with Iran will be lifted beginning at 6:00 a.m. Tuesday, allowing schools and workplaces across most of the country to reopen.

Under the updated guidelines, communities along Israel’s northern border will remain under a “partial activity” status. Schools and workplaces in those areas may operate provided they are located near protected shelter spaces.

In the rest of the country, all restrictions have been removed and normal activity may resume.

The announcement marks a significant shift from earlier statements by Education Minister Yoav Kisch, who had indicated that schools would remain closed Tuesday and potentially reopen Wednesday under a protected framework if tensions persisted.

Following the Home Front Command’s updated assessment, however, the Education Ministry confirmed that all educational institutions nationwide will reopen Tuesday in accordance with the new security guidelines.

Schools in communities near the Lebanese border will be required to conduct activities in close proximity to shelters, while the remainder of the country will return to its regular educational schedule.

Despite the return to normal classroom operations, the Education Ministry confirmed that this week’s matriculation exams have been canceled, as previously announced.

(YWN World Headquarters – NYC)

Expect delays for several hours. Avoid the area.

Israel had sought to carry out strikes in Tehran last Thursday, but the plan was shelved after President Donald Trump pressed Prime Minister Benjamin Netanyahu not to proceed, according to an Israeli source familiar with the matter.

The source said the plan returned to the table after fire was directed toward the Galilee. Under the scenario described by the source, Israel would strike Hezbollah targets in Beirut’s Dahieh district, Iran would respond with missiles, and Israel would then have justification to launch attacks inside Iran.

But Trump ultimately intervened again, pressing Netanyahu to stop the strikes in Iran. A senior Israeli official later confirmed that Israel was halting its attacks in Iran at Trump’s request following a phone call between the two leaders.

“At Trump’s request, we are stopping the strikes in Iran,” the official said, while stressing that Israeli operations in Lebanon would continue. “We are continuing in Lebanon at full force, according to the equation that if they fire at communities, we will strike in Dahieh.”

The official said the Netanyahu-Trump conversation was “overall good,” even though Israel had acted twice in the previous 24 hours contrary to the president’s public position, first with the strike in Beirut and then with its response inside Iran.

The official said Israel had demonstrated that it could defend itself even under pressure from Washington, while still preserving its strategic partnership with the United States. Still, he later qualified the remarks, saying Israel was awaiting a final decision but that the direction was to halt strikes in Iran, not Lebanon.

A source familiar with the Trump-Netanyahu talks said Netanyahu was considering canceling additional planned attacks in Iran that were expected to take place later Monday and would have been significantly broader.

The rapid escalation began after Israeli strikes in Lebanon were followed by Iranian missile fire toward Israel. Israel then carried out strikes inside Iran, reportedly targeting radar and air defense systems in an effort to open routes for Israeli aircraft. Israeli officials said the military had prepared for several days of fighting and had approved plans for additional strikes.

Trump publicly called for both sides to stop firing, writing Monday morning on Truth Social that Israel and Iran “must immediately stop shooting” and that both countries were seeking an immediate ceasefire. He said negotiations toward a broader agreement were continuing.

Iranian security officials later said they were ending military operations against Israel but warned that any renewed Israeli action, including in Lebanon, would bring a harsher response. Iran also threatened to target oil and gas facilities linked to Israel, the United States and their allies if attacks on energy infrastructure continued.

The escalation also spread beyond the Israel-Iran front. Yemen’s Houthi rebels said they were renewing a naval blockade on Israel and closing the Bab el-Mandeb Strait to Israeli shipping, while also claiming missile fire toward the Tel Aviv area.

(YWN World Headquarters – NYC)

Hibbett Sports will close 175 stores around the U.S. over the next three years as its parent company, JD Sports, looks to reorganize its footprint.

JD Sports acquired Hibbett in 2024 in a deal valued at around $1.1 billion, with the acquisition viewed as enhancing JD’s presence in the North American footwear market. Hibbett had 1,169 stores in 36 states as of May 2024, according to the press release for the deal.

Now, the company is moving to reduce its store count as part of a cost-cutting strategy.

POPULAR CONVENIENCE STORE CHAIN TO CLOSE HUNDREDS OF STORES

JD Sports CEO Regis Schultz said on the company’s fourth quarter earnings call that its “second key strategic initiative is driving store productivity and optimization of our store estate. Our net store movement last year was a reduction of 39 stores, demonstrating our fewer, bigger, and better store strategy.”

“In North America, we will leverage group best practice to optimize EBIT store footprint and profitability. As part of this, we will close around 170 underperforming EBIT stores over the next three years,” Schultz added.

JD said that at the start of its fiscal year in February 2025, there were 999 Hibbett stores and that figure declined to a total of 982 when its fiscal year ended in January 2026 as the group consolidated its operations after the Hibbett acquisition.

JOANN, MACY’S, OTHER STORE CLOSURES PART OF A 274% SPIKE IN RETAIL LAYOFFS IN 2025

JD’s CFO Dominic Platt added that the group is planning to open about 20 new JD stores as well as converting between 70 to 80 Finish Line stores to JD locations in North America.

After factoring in JD Sports’ plans in Europe, the group expects its total store count to “stay broadly flat for the year,” Platt said.

JD Sports’ stock is down about 1.7% year to date and is around 1.8% higher over the last year.

DICK’S SPORTING GOODS PLANS TO CLOSE SOME FOOT LOCKER STORES

The news comes as Hibbett’s retail footwear rival, Foot Locker, announced store closure plans last November following its $2.4 billion acquisition by Dick’s Sporting Goods in September 2025.

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The company didn’t specify how many Foot Locker locations would close, though nine Dick’s locations closed in 2025, along with about 11 Foot Locker-owned stores and four licensed stores.

JERUSALEM (AP) – The Israeli prime minister’s brief statement added that “right now, the fire has been halted.” It was his first public statement since Iran fired missiles at Israel late Sunday. They were intercepted.

Netanyahu asserted Israel’s right to self-defense, “and I say this with appreciation and respect in my good conversations with my friend President Trump.” He appears to have openly defied Trump with a strike in Beirut on Sunday and then retaliatory attacks against Iran.

The IDF said Monday it had killed three senior members of the Palestinian Islamic Jihad in a strike in central Gaza on Saturday, the latest in a series of targeted killings the army says are aimed at operatives working to rebuild the terror group’s military wing.

The IDF identified the three as Muhammad Abu Afash, head of Islamic Jihad’s engineering and specializations array; Farhat Harara, the array’s deputy head; and Abdallah Qadoum, who commanded the group’s anti-tank missile array in northern Gaza.

According to the IDF, the three were involved in restoring Islamic Jihad’s combat capabilities and in planning attacks against Israel.

Israel says its operations target terrorists who breach the fragile ongoing ceasefire agreement by reconstituting armed networks or moving against its troops.

The killings follow a string of similar strikes on Islamic Jihad figures. On June 3, the IDF said it killed Ahmed Abu Mughaysib, described as the head of a rocket-launching cell, in southern Gaza, and said he was involved in planning attacks against Israeli troops and civilians and in facilitating weapons smuggling. In separate strikes, the military said it targeted Hamas operatives it accused of preparing attacks.

The broader US-backed framework has stalled. Hamas has insisted that Palestinian governance be based on national consensus and has rejected disarmament without political and security guarantees, while in May the high representative for Gaza, Nickolay Mladenov, said the phased plan was paralyzed over Hamas’s refusal to disarm.

(YWN World Headquarters – NYC)

For more than a year, the warning has been constant: high taxes, a new left-wing mayor, and remote work would hollow out Manhattan’s office towers and chase businesses south. The latest data tells a different story. New York’s commercial real estate market isn’t collapsing — demand is rising.

Figures from the real estate firm JLL covering the first quarter of 2026 show that office leasing activity and rents in Manhattan are up while the vacancy rate is falling, as corporations keep signing new leases — with AI companies particularly active. That is the opposite of what critics predicted when Zohran Mamdani took office as mayor on a platform of higher taxes and tenant-friendly policies.

The lending market tells the same story. Commercial real estate loan originations jumped 80% year over year in the first quarter of 2026, totaling $455 billion — a sharp resurgence in the financing that fuels building purchases and development. Money does not flow into a market that investors expect to crater.

None of this has silenced the exodus talk. Reports that Apollo Global Management was planning a second headquarters in Florida or Texas revived concerns about businesses fleeing New York over Mamdani’s tax policies. The trend is real over the long run: Wall Street firms have steadily expanded in lower-cost southern states for years. JPMorgan Chase now has more workers in its Dallas office than in New York City, and CEO Jamie Dimon wrote in his annual shareholder letter that the trend will likely continue.

But there is a difference between a slow, multi-year migration of back-office jobs and a sudden flight of capital — and the first-quarter numbers show no sign of the latter. The strength in Manhattan leasing demand and rents continued a trend already in place before Mamdani’s term began, suggesting the market is being driven by economic fundamentals rather than political fear.

The single biggest force lifting the market is artificial intelligence. AI companies, flush with investment and racing to expand, have been among the most aggressive tenants signing new leases in the city. Their appetite for space is helping offset the well-documented pullback in traditional office demand from finance and law firms that embraced hybrid work. In effect, one boom is filling the gap left by another sector’s retreat.

That dynamic matters far beyond landlords. A healthy office market supports the restaurants, shops, transit systems, and construction jobs that depend on workers coming into the city. When towers fill up, the sidewalks below them fill up too, and the tax revenue that funds city services holds steady. A genuine commercial real estate collapse would have ripped a hole in the city’s budget; instead, the sector is providing a cushion.

The political backdrop remains a genuine risk that bears watching. Mamdani’s housing agenda — including proposals that landlords warn could discourage development — and the broader tax debate could still alter the calculus for businesses weighing whether to grow in New York or somewhere cheaper. The Apollo and JPMorgan moves are reminders that companies have options and are willing to use them.

For now, though, the hard numbers undercut the most dire predictions. Leasing activity is rising, vacancies are falling, lenders are writing checks again, and the AI industry is helping drive a new wave of demand for Manhattan office space. Far from emptying out, many of the city’s highest-quality buildings remain in demand as companies compete for premium locations. The exodus may yet come in slow motion over the years ahead. But in the first full quarter of the Mamdani era, Manhattan’s office market is doing something its critics insisted it couldn’t: attracting tenants, supporting higher rents, and strengthening rather than weakening.

JBizNews Desk — New York

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

Consumers across Israel are reporting growing difficulty finding cottage cheese, white cheese, and other popular dairy products, as supply disruptions tied to a production problem at a major Tnuva facility continue to affect supermarket shelves weeks after the initial incident.

According to a report by Ynet, the shortage stems from a malfunction that occurred approximately three weeks ago at Tnuva’s Alon Tavor manufacturing plant, disrupting production of several cup-packaged dairy products, including cottage cheese and white cheese.

The supply issues were expected to be resolved sooner, but the recovery process was delayed by production interruptions during the Shavuos period.

Shoppers continue to report difficulty locating 5% white cheese and, in particular, 9% white cheese in 250-gram containers. Cottage cheese remains unavailable in some stores as well, although inventory levels have begun to improve gradually in recent days.

In an effort to ease the shortage, Tnuva increased production of larger white cheese containers in 500-gram and 750-gram sizes. However, many consumers say the larger packages are not an ideal substitute, both because of their purchasing habits and limited refrigerator space.

The effects of the shortage have also been felt by competing dairy producers, which have experienced increased demand as customers seek alternatives to unavailable Tnuva products. Consumers have additionally reported shortages of Tnuva yogurt and sour cream in some locations.

Tnuva told Ynet that supplies of 250-gram white cheese containers are expected to return to normal distribution during the course of this week.

{Matzav.com}

Americans are paying far more to stay insured in 2026, and the increases are landing hardest on the people who buy their own coverage — a squeeze that is already reshaping household budgets and corporate benefit plans alike.

The numbers are stark. According to an analysis by KFF, the nonpartisan health policy research group, premiums on the Affordable Care Act marketplaces are rising by an average of 26% for 2026, with increases of 30% in states using the federal Healthcare.gov marketplace and 17% in states running their own. That is the steepest jump in years and far above anything workers with job-based coverage have seen.

For people with insurance through their employer — the way most Americans get covered — the increase is smaller but still painful. Employer-sponsored insurance costs are projected to rise 6% to 7% in 2026. Virgil Bretz, chief executive of the health technology firm MacroHealth, has noted that such an increase is roughly double the general inflation rate.

What’s driving it comes down to two forces. The first is the simple, relentless rise in the price of medical care. Insurers in one review commonly assumed their medical costs would climb 7% to 8% in 2026, pushed up by expensive hospital care and a wave of costly new drugs. Pricey weight-loss medications known as GLP-1s have become a flashpoint: Blue Cross Blue Shield of Massachusetts said it is dropping coverage of GLP-1 drugs for weight loss in 2026, a move it estimated would reduce its premiums by about 3% — a sign of how much these treatments weigh on costs.

The second force is policy. The enhanced premium tax credits that had cushioned marketplace costs were set to expire, and insurers raised rates partly because they expect higher risk as a result. The consequences for the people who rely on those subsidies are severe. KFF estimated that if the enhanced credits lapse, what subsidized enrollees pay would more than double — a 114% jump, from an average of $888 a year in 2025 to $1,904 in 2026.

The pain is wildly uneven by geography. The average monthly benchmark Silver plan for a 40-year-old reached about $752 nationally, up 21% from a year earlier, but ranged from $480 in Maryland to $1,224 in Vermont. Arkansas led the country with a 67% increase, while a handful of states held increases below 10%, with states that run reinsurance programs generally seeing milder hikes.

The business implications run deep. For employers, a 6% to 7% rise in health costs means higher spending on every worker, money that competes with wages, hiring, and investment. Small businesses, which lack the bargaining power of large corporations, tend to feel it most and are likeliest to pass the cost to employees through higher payroll deductions or skinnier plans. The people most exposed are the roughly 2.4 million unsubsidized marketplace enrollees — often self-employed workers or early retirees — who absorb the full increase.

There is a broader economic risk, too. When coverage gets too expensive, healthy people drop it, leaving insurers with a sicker, costlier pool and pushing premiums even higher — the kind of cycle the industry has long feared. The Congressional Budget Office has estimated the number of uninsured Americans could rise by roughly 3.8 million a year if the enhanced subsidies are not extended, which would shift more unpaid medical bills onto hospitals and, ultimately, onto everyone else’s premiums.

For households already stretched by high grocery and energy prices, a double-digit jump in the cost of staying insured is one more strain on a budget that has little give left. And for the companies that provide coverage to most working Americans, 2026 is shaping up to be the year health benefits stop being a manageable line item and start forcing hard choices.

This article is general business reporting, not medical or financial advice; coverage decisions are best made with a licensed professional.

JBizNews Desk — Health Care

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

More than three years after ChatGPT launched the modern artificial intelligence race, companies are pouring increasing amounts of money into AI tools and integrating them into daily operations. Yet despite widespread adoption and optimism, experts say the technology has not yet produced the dramatic productivity surge or workplace upheaval that many of its strongest supporters predicted, according to a report published Sunday by The Wall Street Journal.

Across the corporate world, businesses are using AI to perform a growing list of functions, including summarizing meetings, writing emails, creating reports, and handling repetitive administrative work. At the same time, spending on AI continues to climb, with surveys of chief executives and technology leaders showing that many organizations intend to expand their investments throughout the year.

Recent research from Deloitte, released in January, along with a separate study from the Wharton School, suggests that major corporations are increasingly embedding AI into essential business operations rather than merely testing its capabilities. In Wharton’s survey of 801 executives, approximately 75 percent said their AI initiatives were generating positive returns.

The technology is now being applied in a wide variety of industries. Retail companies use AI systems to tailor recommendations and modify pricing based on market conditions. Private-equity firms employ AI-driven tools to assist with research and analysis, while manufacturers rely on machine-vision technology to detect flaws and quality issues during production.

One area where AI has made particularly notable progress is software engineering. Modern AI systems can increasingly generate programming code from simple written instructions, significantly reducing the time required to complete certain coding assignments.

“Saying we’re stuck in pilot mode is this outdated idea that’s wrong,” said Ethan Mollick, a professor at the Wharton School who studies AI adoption. “I’m talking to companies all the time getting real value out of AI.”

Even as adoption expands, many organizations continue to struggle with the challenges of implementing AI on a large scale. Investors and corporate boards are demanding proof that expensive AI projects are producing meaningful financial results, while skepticism remains about whether current technology can truly reshape entire industries.

Researchers and analysts often describe AI’s capabilities as a “jagged frontier,” reflecting the reality that the technology can perform exceptionally well in some situations while failing unexpectedly in others.

Independent technology analyst Benedict Evans said AI tends to excel when dealing with highly structured work, including coding, reviewing legal documents, and analyzing financial data. However, it frequently encounters difficulties when tasks require deeper contextual understanding, human judgment, or familiarity with institutional practices.

Another challenge is that AI systems can confidently present inaccurate information, creating risks in environments where precision and reliability are essential.

Because of these shortcomings, some economists argue that predictions of widespread job displacement remain premature.

“Whether you’re a CEO, a manager, a journalist, a professor or a construction worker, I see your skills as beyond what AI can perform,” said Daron Acemoglu, who argues that today’s AI tools are likely to affect only a portion of existing jobs.

Specialists also emphasize that successful implementation involves far more than simply deploying AI software. Organizations need dependable data systems, strong security measures, governance policies, and effective human supervision to ensure the technology operates responsibly and accurately.

Since every company has unique processes and infrastructure, many businesses are forced to create these support systems from scratch, adding significant costs and extending implementation timelines.

Industry experts increasingly believe that internal organizational barriers may be a greater obstacle than the technology itself.

Many businesses operate according to lengthy planning cycles and are reluctant to abandon systems they invested heavily in only a few years ago. Workers may also hesitate to embrace technologies that they believe could eventually eliminate their positions.

“What is being sold is this idea of productivity and efficiency,” said Kate Brennan. “And what that means for the people doing the actual work is rarely part of the conversation.”

Experts note that many companies currently use AI to improve portions of existing procedures rather than fundamentally redesigning how work is performed.

For instance, an insurance company may use AI to accelerate paperwork associated with automobile accident claims while preserving traditional approval processes. A more sweeping transformation would allow AI to evaluate damage through photographs, approve claims automatically, and initiate payments with little human involvement. Achieving that level of change, however, would often require businesses to overhaul longstanding operational models and management structures.

Historians of technology point out that transformative innovations rarely reshape economies overnight.

The widespread economic benefits of electricity took decades to appear in productivity statistics, while the internet required many years before fundamentally altering commerce and business practices.

“The early years looked, from the inside, a lot like AI does now: spectacular promise, uneven results and an industry with every incentive to tell you the revolution was already here,” said James Landay.

Landay argued that institutions typically need substantial time to restructure themselves before they can fully benefit from breakthrough technologies.

“My sense is more like five to 10 years — not the next two or three,” he said.

{Matzav.com}

We regret to inform you of the Petirah of R’ Aryeh Danziger Z”L. He was 84 years old.

Originally from Brooklyn, R’ Aryeh moved to Lakewood several years ago, and resided in the Fairways.

He is survived by his wife, Mrs. Hinda Danziger, and his children: R’ Shmuel Duvid Danziger of Lakewood, R’ Tzvi Danziger of Boro Park, and Mrs. Shoshi Weiss, wife of R’ Moshe Meir Weiss.

The Levaya is scheduled to take place at 3:30 PM at the Lakewood Chapel, 613 Ramsey Avenue.

Kevurah will take place in Lakewood Bais Olam.

Baruch Dayan Ha’emes.

Prime Minister Netanyahu addressed the nation Monday morning following the latest round of fighting with Iran and Hezbollah, declaring that Israel has successfully neutralized existential threats from both Tehran and its Lebanese proxy while warning that any renewed attacks will be met with overwhelming force.

“Dear citizens of Israel,

A year ago, we launched a historic preemptive strike against Iran’s intention to destroy us with atomic bombs. We thwarted this immediate threat – and we also eliminated the tyrant Khamenei.

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If we had not acted in time and with overwhelming force – we would not be here today. And I pledge again: Iran will not have nuclear weapons.

With that same determination, we acted against Hezbollah as well. Hezbollah planned to invade the Galilee with thousands of terrorists, and at the same time, it planned to devastate Israel’s cities with 150,000 missiles and rockets.

We thwarted this threat as well – and we eliminated Nasrallah. And I would like to tell you: our heroic fighters are tearing Hezbollah to pieces.

We continue to destroy all of their terror infrastructure in the security zone, including massive underground facilities in the Beaufort Ridge. So massive that they are unlike anything I have ever seen.

Iran and Hezbollah are weaker than ever, and we are stronger than ever – but our battle against them is still not finished.

In the last 24 hours, Iran and Hezbollah tried to impose a new equation upon us. And it is an equation I find intolerable and unacceptable.

They thought they would fire at Israel from Lebanese territory and from Iran – and we would not act. That did not happen, and it will not happen. Not on my watch!

Just as I have done for decades, I stand firmly on our right to act against our enemies. That is how we acted now as well. After Hezbollah fired into Israeli territory, I ordered the IDF to attack terror targets in Beirut, and to eliminate Hezbollah operatives there. We did that.

After Iran attacked Israel, I instructed the IDF to attack military and economic targets throughout Iran. We did that, too.

At the moment, we are holding our fire, because after we struck the terror regime in Tehran, it ceased attacking us. In the event that the terror regime in Iran makes the mistake of resuming attacks on us – we will respond with overwhelming force.

Israel has a full right to self-defense, and we are exercising it to the extent necessary. I say this to you, just as I say this, with appreciation and respect, in my good conversations with my friend President Trump.

With unity, determination and wisdom – we will protect the State of Israel. Together, with God’s help, we will restore security to the north.”

(YWN World Headquarters – NYC)

Per New Jersey American Water (NJAW)’s qualified contractor, CDM Smith; crews are currently canvassing homes within the 7153.03 and 7152.01 census tracts – in the Park Ave and Ridge Ave/Brook Road neighborhoods of Lakewood – for potential lead service line replacement. (See attached map for detailed locations.)

As previously reported, this program is part of NJAW’s Lead Service Line Replacement Program, which follows a 2021 state law that requires all water providers to identify and replace lead and galvanized steel service lines by 2031. A service line is the pipe that brings water from the water main in the street into a home or building. It includes both the portion owned by New Jersey American Water and the portion owned by the property owner.

Residents and property owners can self-identify and report their water service pipe with photos to New Jersey American Water or schedule an in-person inspection during a time that’s convenient for them. New Jersey American Water has sent, and will continue to send, informational materials in multiple languages directly to potentially affected customers explaining how to proceed with either of these options.

In addition, authorized canvassers may proactively visit designated properties to assist customers. Inspections are free and typically take only approximately 15 minutes.

Canvassers will never ask residents to share any sensitive personal or financial information, or documentation. Canvassers will wear clearly marked, high-visibility vests displaying New Jersey American Water and CDM Smith logos and carry official identification.

All canvassing, inspections, and any replacement work are performed solely by New Jersey American Water or its authorized contractors, not by Lakewood Township or any other government agency. At the same time, this effort has been coordinated with Lakewood Township to support public awareness and safety.

In the interim, Lakewood residents may continue to use their water as usual. Water provided by New Jersey American Water continues to meet all state and federal water quality standards, including those for lead. Additional program resources, an interactive service line inventory map, and tools to self-identify service line materials are available at newjerseyamwater.com/leadfacts.  Questions not addressed on the utility’s website may be directed to the New Jersey American Water Lead Team via email at [email protected] or by calling CDM Smith at 732-590-4700.

NEW YORK (AP) — In the NBA Finals, celebrity row property is worth $1 million.

The New York Knicks announced that was the winning bid in an auction for two seats for Game 3 on Monday night, the first NBA Finals game at Madison Square Garden since 1999.

The winning bid was split by the law firm Gibson, Dunn and Crutcher LLP and private equity firm Veritas Capital. The fundraiser benefited the Garden of Dreams Foundation, and the Knicks said it was the largest single donation in the history of the foundation, which works with MSG’s companies to assist children at need in the tristate area.

The seats are located in section VIP 10, row AA, seats 25 and 26, right off center court. It’s impossible to know what they would usually cost, because the team doesn’t sell them. Instead, they are given to the celebrity fans such as Tracy Morgan and Timothée Chalamet who are courtside fixtures.

Seats everywhere in the building are expensive. The cheapest upper-deck seats available Sunday night were going for more than $6,000 on secondary markets like StubHub, SeatGeek and VividSeats. The experience of being courtside went for more than $75,000.

NEW YORK (VINnews) – The iconic red-and-white Macy’s billboard overlooking Herald Square is expected to be removed this weekend, ending a presence that has been part of the Manhattan streetscape for more than six decades.

The four-story sign, designed to resemble a Macy’s shopping bag, sits above a retail space at the corner of Broadway and West 34th Street near the retailer’s flagship store.

Macy’s said the sign is being removed as part of plans by the property owner to modernize the advertising space. The company said it expects to unveil updated branding for its Herald Square flagship while preserving the store’s historic identity.

The billboard has long been a recognizable landmark for shoppers and tourists visiting one of New York City’s busiest commercial districts. Industry observers say the change reflects a growing trend toward large digital advertising displays that generate higher revenue in prime locations.

The removal follows past legal disputes between Macy’s and the property owner over future use of the billboard space. Details of what will replace the sign have not been announced.

The largest U.S. banks, led by JPMorgan Chase and Citigroup, are planning a shared system for tokenized deposits as the traditional banking industry’s coordinated answer to cryptocurrency, according to people familiar with the discussions in a plan reported Thursday, June 4. The effort would move banks beyond their separate, in-house projects toward common infrastructure for moving digital dollars.

A tokenized deposit is, in plain terms, a digital token that represents real money sitting in a bank account. It is a claim on deposits held at a regulated bank, moved across blockchain-style rails that allow payments to settle in seconds at any hour. That makes it different from a stablecoin, which is a token pegged to the dollar and often issued outside the banking system.

The distinction matters to banks.

A tokenized deposit keeps the money on their books, where they can still lend against it, while a stablecoin does not.

That is the core reason the banks are acting.

Stablecoins issued by crypto-native firms have grown into a large pool of dollars parked outside the banking system. Tether and Circle, the two biggest issuers, together controlled more than $310 billion in stablecoins as of early 2026.

Every dollar held in their tokens, USDT and USDC, is a dollar not held as a bank deposit—money banks earn nothing on and cannot use to make loans.

Left unchecked, that shift threatens the deposit and payments businesses that are central to how banks make money.

The pieces of a joint system already exist inside the biggest banks.

JPMorgan Chase launched a deposit token called JPMD in June 2025 on Coinbase’s public blockchain, known as Base, through its blockchain division Kinexys.

Naveen Mallela, the division’s global co-head, has said the token lets institutional clients send and receive money in seconds, around the clock, bypassing the delays of traditional banking.

The bank expanded the token to public blockchains later in 2025.

Citigroup runs its own service, Citi Token Services, which offers tokenized deposits for corporate treasury and trade-finance clients with near real-time settlement.

The new plan builds on talks that began in 2025, when JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo explored issuing a joint stablecoin.

Those discussions ran through two jointly owned bank ventures: Early Warning Services, which operates the Zelle payment network and the Paze wallet, and The Clearing House, which runs a real-time payments network used by major banks.

A shared tokenized-deposit system would use similar shared rails while keeping the money as bank deposits rather than a separate stablecoin.

The logic mirrors how banks already cooperate.

Just as rival banks share the Zelle network for person-to-person transfers while keeping their own apps and brands, a shared tokenized-deposit system would let them agree on common plumbing to ensure the tokens work across institutions.

That interoperability is the point.

A token that only works inside one bank’s network is far less useful than one that can move seamlessly between banks for faster domestic payments, cross-border transfers, and around-the-clock settlement.

For JPMorgan, the approach reflects a strategy of competing and cooperating at once.

The bank has its own deposit token to keep a first-mover edge while joining an industry group to ensure it has a seat at the table if the market settles on a shared standard.

Other banks are hedging too.

Wells Fargo has filed a trademark for a branded digital dollar, suggesting it may want both a proprietary product and access to shared infrastructure.

The timing is tied to policy.

A federal framework for digital dollars, advanced under the GENIUS Act, has given banks more legal clarity to issue tokens, and the current administration has been broadly supportive of digital finance.

Clearer rules tend to favor regulated, compliant issuers, which is the position banks want to occupy.

There are reasons for caution.

The discussions remain at an early stage and could change.

Profitability is not guaranteed. Analysts have warned that the rich margins crypto-native issuers like Tether currently earn may not be sustainable as competition grows and regulation tightens.

The banks are still weighing how much demand a shared token would actually draw.

For now, the systems are aimed mainly at institutional and corporate clients rather than everyday consumers, used for moving large sums and settling trades.

But the broader direction is clear: the country’s biggest banks are moving to build their own version of the technology that crypto firms pioneered—and to do it together—so that the digital dollars of the future remain bank deposits rather than something issued outside their walls.

JBizNews Desk — Banking & Financial Technology

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President Donald Trump is raising fresh concerns about the Los Angeles mayoral election, alleging that Republican candidates are being unfairly disadvantaged as vote counting continues and warning that the consequences could be severe if Democrats prevail through what he characterized as an illegitimate process.

Trump took to Truth Social to question the integrity of the election and accuse Democrats of benefiting from a flawed system.

“Has anybody been watching the CROOKED Election going on in California,” Trump wrote late Sunday night on Truth Social. “Two great Republican Candidates are being cheated, and so is America, which if the Dumocrats are able to fulfill their mission, great trouble and consternation will follow. Watch this ‘Election’ closely!!!”

The president returned to the issue Monday morning, amplifying criticism of California’s voting procedures after new vote totals altered the standings in the Los Angeles mayoral contest.

“No way this could have happened. Rigged Election!” Trump wrote.

His comments came after Rep. Abe Hamadeh of Arizona shared concerns about the changing results and reposted an election projection from Decision Desk HQ.

The projection indicated that Los Angeles City Councilwoman Nithya Raman had moved into second place, securing a spot in the upcoming runoff election.

Hamadeh argued that California is “incapable of running free and fair elections” and called for federal oversight of elections in the state.

According to a Newsmax projection, Raman has now locked up a place in the November runoff election, where she is expected to face incumbent Democratic Mayor Karen Bass.

Bass remains the leading vote-getter, holding roughly 35 percent support, while Raman has edged ahead of Republican contender Spencer Pratt.

With ballot tabulation still underway, the margin between Raman and Pratt remains extremely close, with slightly more than 3,000 votes separating the two candidates.

Pratt, a conservative commentator and former reality television personality, occupied second place for several days following Election Day. However, as additional ballots were counted, Raman gradually moved ahead.

The lengthy ballot-counting process in California has long been a source of frustration for Republicans, including Trump, who argue that election outcomes should not continue shifting days after voting concludes.

State election rules allow mail-in ballots bearing an Election Day postmark to be counted if they arrive within seven days after the election.

Election administrators maintain that the extended counting period is standard practice in California, noting that mail ballots are automatically sent to all registered voters.

According to reporting by the Associated Press, Democratic voters generally submitted their ballots later in the election cycle, a trend analysts say helps explain why both Bass and Raman gained support as more votes were processed.

At the same time, federal authorities have launched multiple investigations involving alleged election irregularities. On Friday, the U.S. Attorney’s Office in Los Angeles announced that several election-fraud probes related to California races were underway and that a federal prosecutor had been assigned to monitor activities at the county’s vote-counting facility.

Officials are required to certify the election results by early July, meaning thousands of ballots remain outstanding in a race that continues to draw significant political attention.

{Matzav.com}

EAST RUTHERFORD, N.J. (VINnews) — A prominent hotel near the Meadowlands Sports Complex has changed hands, with its new owner planning a major renovation and a new identity as the region prepares to host a series of major international events.

P3 Properties, a New Jersey-based real estate investment and operating firm, announced it has acquired the 21-story, 427-room hotel at 2 Meadowlands Plaza. The property, a familiar landmark along Route 3, has operated under several hotel brands over the years and most recently was known as the Park Hotel.

The company said it plans to invest millions of dollars in upgrades, including improvements to building systems, elevators and infrastructure, along with a modernization of guest rooms, meeting facilities and public spaces. Following the renovations, the hotel will be rebranded as World of Blue.

Founded in 2014 by Orthodox Jewish businessman Harvey Rosenblatt, P3 Properties has grown into a vertically integrated real estate platform with more than $2 billion in assets under management. The firm focuses on acquiring and repositioning underperforming properties across office, multifamily, retail and mixed-use sectors, often targeting assets with strong fundamentals that can benefit from new investment and operational improvements.

Rosenblatt said the East Rutherford property’s location near MetLife Stadium, the American Dream complex, Newark Liberty International Airport and major highways made it a strategic acquisition.

The hotel, originally built in 1986, includes approximately 30,000 square feet of conference and meeting space and a large surface parking lot. It sits adjacent to the Metropolitan Center office complex and less than a mile from key transportation routes serving northern New Jersey and New York City.

The redevelopment comes as the Meadowlands region prepares for increased global attention, including matches of the upcoming FIFA World Cup at MetLife Stadium.

P3 said the World of Blue concept is intended to create a more contemporary hospitality experience while introducing updated amenities and redesigned common areas. The company plans to manage the property through its affiliated hospitality platform as part of its broader strategy of hands-on ownership and operations.

Local business leaders welcomed the investment, saying the project is expected to strengthen the Meadowlands’ appeal as a destination for tourists, business travelers and large-scale events.

Renovation work is expected to begin in early 2026, with P3 positioning the project as part of its ongoing effort to revitalize properties and create long-term value through active management and redevelopment. Rosenblatt said the firm views the acquisition not simply as a hotel investment, but as an opportunity to create a destination property in one of New Jersey’s busiest entertainment and business corridors.

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To sell the most expensive stock-market debut in history, the banks pitching SpaceX are handing big investors a number that sounds almost impossible: according to projections shared with institutional clients by Morgan Stanley, reported Friday, Elon Musk’s rocket-and-satellite company could generate roughly $3.4 trillion in annual revenue by 2040.

For perspective, no company in the world comes close to producing that level of revenue today.

The projection sits at the center of an investor roadshow that officially launched this week ahead of SpaceX’s planned Nasdaq debut on June 12 under the ticker SPCX. The company has already set a fixed offering price of $135 per share, an unusual move that bypasses the traditional IPO price-range process and signals confidence from the underwriting banks that demand will be strong.

According to SpaceX’s filing with the U.S. Securities and Exchange Commission, the company plans to sell approximately 555.6 million shares, raising about $75 billion. Underwriters retain an option to sell an additional 83.33 million shares if investor demand exceeds expectations, potentially generating another $11.2 billion.

That structure values SpaceX at roughly $1.77 trillion.

Even after the offering, Musk will remain firmly in control. The filing shows he will retain more than 82% of the company’s voting power, ensuring that public investors will own a stake in the company but have little influence over its direction.

If completed at that size, the offering would easily surpass the previous IPO record.

Saudi Aramco’s landmark 2019 public offering raised approximately $29 billion. SpaceX is seeking more than double that amount.

The AI Story Is Driving the Valuation

The central question facing investors is simple:

How do you justify a valuation approaching $1.8 trillion for a company that generated approximately $18.7 billion in revenue last year?

According to presentations shown to investors, the answer is not rockets.

It is artificial intelligence.

Lead underwriter Goldman Sachs is reportedly presenting a financial model that places the overwhelming majority of SpaceX’s future value on its AI division, xAI.

The model projects AI-related revenue growing from approximately $3.2 billion in 2025 to $322 billion by 2030, an increase of roughly one hundredfold in just five years.

Under that forecast, total company revenue would reach approximately $474 billion by 2030.

Within that figure:

• Starlink is projected to generate about $144 billion
• The traditional rocket-launch business is projected to generate approximately $8.3 billion
• The remainder would come primarily from AI operations

In other words, the rockets that made SpaceX famous become a relatively small piece of the investment story.

The real bet is software.

Even More Aggressive Forecasts

Some analysts believe the projections are still too conservative.

Research distributed by Evercore ISI reportedly forecasts that the AI division alone could generate approximately $755 billion in revenue by 2031, with total company revenue exceeding $1 trillion annually.

Those estimates rely heavily on claims in the prospectus regarding the future size of the artificial-intelligence market.

According to the filing, the company estimates that the total addressable market for xAI could eventually reach approximately $26.5 trillion.

That figure dwarfs the roughly $2 trillion opportunity analysts assign to Starlink and SpaceX’s launch operations combined.

The Catch

There is one major complication.

The AI division remains deeply unprofitable.

The prospectus projects that xAI will lose approximately $6.4 billion during 2025, meaning investors are being asked to place enormous value on a business that is still losing significant amounts of money.

That has fueled skepticism among some market observers.

CNBC’s Jim Cramer warned this week that a limited supply of publicly available shares, combined with forced buying by index funds and institutional investors, could drive SpaceX’s market value toward $4 trillion shortly after trading begins.

He also warned that early enthusiasm could eventually fade, leaving late-arriving retail investors exposed if insiders later sell large amounts of stock.

Cramer pointed to recent examples including Cerebras, which surged after its public debut before retreating sharply as trading normalized.

A Potential Headwind

Skeptics received another talking point on Thursday.

S&P Dow Jones Indices announced it would not modify its existing rules to accelerate inclusion of newly public companies such as SpaceX into major indexes.

The decision preserves the standard waiting periods and profitability requirements.

That matters because automatic inclusion in indexes often forces large mutual funds and exchange-traded funds to buy shares regardless of valuation. A delay removes one source of guaranteed demand.

The Bigger Picture

For ordinary investors, the appeal is obvious.

This represents the first opportunity to own a stake in a company that has reshaped the launch industry, built one of the world’s largest satellite networks, and become one of the most recognizable names in technology.

The risk is equally clear.

The valuation already assumes a future that has not yet arrived, with much of the company’s projected worth tied to AI revenue streams that remain largely theoretical.

One detail buried in the amended filing illustrates how interconnected the AI industry has become.

SpaceX disclosed that Anthropic is both a customer and a competitor to its xAI division, highlighting the increasingly tangled relationships developing across the artificial-intelligence sector.

Pricing is scheduled for June 11, with trading expected to begin on June 12.

After years of Musk insisting SpaceX would remain private, Wall Street is about to determine whether investors are willing to pay for a future measured not in billions, but in trillions.

JBizNews Desk — Markets & Technology

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NEW YORK— BlackRock, the world’s largest money manager, opened a $25 million nationwide grant competition on June 1 to help train electricians, mechanics, plumbers, and HVAC workers as employers across the country struggle to fill hundreds of thousands of skilled-trade jobs.

The reason is simple: America is running short of the very people it needs to build its future. The same artificial-intelligence boom that is threatening some office jobs cannot happen without people who work with their hands. Building a single AI data center takes armies of electricians to wire it and HVAC mechanics to keep the machines cool.

BlackRock Chief Executive Larry Fink has been blunt about the challenge. He has warned—including to officials in Washington—that the United States could simply run out of the electricians needed to build the data centers powering the AI revolution.

The numbers back him up. The trade group Associated Builders and Contractors estimates the country needs about 349,000 additional construction workers in 2026 just to keep up with demand, with even more needed next year. The Bureau of Labor Statistics projects roughly 81,000 electrician openings and 40,100 HVAC technician openings every year over the next decade. Many of those openings are being created because experienced workers are retiring faster than younger workers are entering the trades.

Hiring has become so difficult that staffing firm Randstad found it now takes about 56 days to fill an electrician or plumbing position—longer than it takes to hire many office workers.

That is the workforce gap BlackRock is trying to help close.

Its $25 million initiative is the next phase of a broader $100 million workforce effort known as Future Builders, operated through The BlackRock Foundation. The program will award grants ranging from $500,000 to $1 million to nonprofit organizations that provide hands-on training and career pathways into the skilled trades. The foundation hopes the initiative will help prepare 50,000 workers over the next five years.

“Skilled trades are essential to America,” said Arielle Gurman, who leads strategy for The BlackRock Foundation and oversees the Future Builders initiative. She said demand for trained workers continues to rise while too many people still lack access to quality training opportunities.

Applications opened June 1 and will remain open through July 10. A nonprofit workforce organization, Jobs for the Future, will help select grant recipients, with the first awards expected to be announced this fall.

The effort follows a separate $30 million BlackRock commitment in Texas announced last month that aims to train more than 12,000 workers for electrical and related skilled-trade careers.

BlackRock is not alone.

In April, Lowe’s announced a $250 million commitment through its foundation to help train 250,000 tradespeople by 2035. Chief Executive Marvin Ellison has repeatedly argued that while AI may transform many jobs, it cannot replace workers who install electrical systems, repair furnaces, or build homes.

Google has committed $15 million toward electrical workforce development programs. The Home Depot Foundation has pledged $10 million to support skilled-trade training. Television host Mike Rowe, best known for “Dirty Jobs,” is contributing another $10 million through his foundation to encourage more young people to pursue careers in the trades.

For workers, the economics are becoming increasingly attractive.

A fully trained electrician earns roughly $59.50 per hour, equivalent to more than $120,000 annually, often with strong benefits and without the burden of college debt. On some of the nation’s busiest AI data-center projects, electricians working significant overtime have reportedly earned between $240,000 and $280,000 per year.

For the first time in roughly half a century, government data shows that skilled-trade workers are now less likely to be unemployed than college graduates.

In the short term, $25 million will not eliminate a shortage measured in the hundreds of thousands. Skilled-trade training takes time, and the construction boom tied to AI, energy infrastructure, manufacturing, and housing is moving faster than training programs can produce workers.

But a larger shift is becoming clear. Some of the biggest names in finance, retail, and technology now view America’s shortage of mechanics, electricians, plumbers, and HVAC technicians as a major economic challenge—and they are increasingly willing to spend their own money to address it.

JBizNews Desk — New York

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Stock futures moved higher before the opening bell Monday, June 8, as technology shares rebounded from last week’s steep selloff, while rising oil prices reflected continued instability in the Middle East. S&P 500 futures gained about 0.62%, Nasdaq 100 futures rose roughly 1.12%, and Dow Jones futures added about 0.14%.

The recovery follows a difficult Friday session in which the Nasdaq fell approximately 4%, driven largely by a sharp decline in semiconductor stocks that erased nearly $1 trillion in market value.

A major catalyst for Monday’s rebound was a decision by S&P Dow Jones Indices to add Marvell Technology and Flex to the S&P 500 Index, replacing Pool Corp. and The Campbell’s Company. The changes will take effect before trading begins on June 22.

The move is significant because index funds and exchange-traded funds that track the S&P 500 must purchase shares of newly added companies to match the benchmark. That often creates substantial demand regardless of broader market conditions.

Marvell Technology jumped about 7% in premarket trading, while Flex gained roughly 3%.

Marvell has been one of Wall Street’s strongest performers this year. The company’s shares have more than tripled in 2026 and surged roughly 29% last week alone, helped by growing investor enthusiasm surrounding artificial intelligence infrastructure. Interest intensified after Nvidia CEO Jensen Huang reportedly described Marvell as the “next trillion-dollar company.”

The broader semiconductor sector also participated in the rally. Micron Technology rose approximately 7.1%, while laser manufacturer IPG Photonics advanced about 8.2% in premarket trading.

Healthcare stocks also attracted attention. Eli Lilly moved higher after presenting late-stage clinical results for its experimental obesity treatment retatrutide at the American Diabetes Association conference in New Orleans. Analysts at William Blair described the drug as potentially belonging to a different class because of its potency. Investors are also looking ahead to Eli Lilly’s presentation at the Goldman Sachs Healthcare Conference on Tuesday.

Not every stock joined the rally. Roivant Sciences declined about 3.8%, Grocery Outlet fell roughly 3.3%, and insurer Progressive slipped about 2%.

Meanwhile, developments in the Middle East continued to influence markets.

West Texas Intermediate crude oil climbed above $93 per barrel, reversing losses from the previous two sessions after renewed tensions between Iran and Israel. Iran launched multiple rounds of missiles toward Israel over the weekend and warned against additional military activity in Lebanon.

Israel’s military said all incoming missiles were intercepted and reported no casualties.

Iran’s Foreign Ministry told CNBC that military operations had paused but warned that strikes could resume if Israeli actions in Lebanon continue. Traders remain focused on the Strait of Hormuz, which has been largely disrupted since February and normally handles a significant share of global oil shipments.

Adding another variable to energy markets, OPEC+ approved a July production increase of 188,000 barrels per day, though the supply boost has done little to offset concerns about regional instability.

Investors are also continuing to assess Friday’s stronger-than-expected employment report.

The U.S. Bureau of Labor Statistics reported that employers added 172,000 jobs in May, well above economist forecasts of approximately 85,000 jobs. April payroll growth was revised higher to 179,000 jobs. The unemployment rate remained at 4.3%, while average hourly earnings increased 0.3% for the month and 3.4% year-over-year.

The report arrives less than two weeks before the Federal Reserve’s June 16–17 policy meeting, the first chaired by Kevin Warsh since succeeding Jerome Powell in May.

Last week’s technology selloff began after Broadcom issued guidance that disappointed investors, sparking widespread selling across semiconductor stocks. Despite the reaction, UBS analyst Timothy Arcuri maintained a Buy rating on Broadcom while trimming his price target to $485 from $490.

What to Watch

With few major economic reports scheduled before the Federal Reserve meeting, investors are likely to focus on three key themes this week:

• Whether the semiconductor rebound can continue.
• Oil price movements tied to developments between Iran and Israel.
• Corporate events, including the Goldman Sachs Healthcare Conference and the upcoming June 22 S&P 500 index reshuffle.

JBizNews Desk — New York

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Last night, hundreds of Talmidei Chachamim, Roshei Yeshiva, Maggidei Shiur, Poskim, and Marbitzei Torah from the Lakewood area gathered in Lakewood for a historic “Rischa D’Oraisa” with the Rosh Yeshiva Hagaon Rav Dov Landau Shlita, who is here on behalf of the Keren Olam Hatorah mission.

Nvidia, the company whose chips power much of the artificial intelligence boom, is expanding beyond graphics processors and into a market long dominated by Intel and Advanced Micro Devices (AMD).

At Computex 2026 in Taipei, Nvidia CEO Jensen Huang announced that Anthropic, OpenAI, SpaceX, and Oracle are among the first major customers for the company’s new processor, known as Vera.

The move marks one of Nvidia’s most significant expansions yet.

For years, Nvidia has dominated the market for graphics processing units, or GPUs, which perform much of the heavy computing required to train and run advanced AI systems. But the company historically relied on outside suppliers for central processing units, or CPUs.

With Vera, Nvidia is now building its own.

According to Nvidia, Vera was designed specifically for the next generation of AI systems, particularly autonomous AI agents capable of carrying out multi-step tasks, analyzing large amounts of information, and coordinating complex workflows.

The company says the processor delivers 50% faster performance per core than its previous generation under full workloads.

Perhaps more important than the technology itself is the customer list.

OpenAI and Anthropic are among the largest consumers of AI computing power in the world. Their adoption signals confidence that Nvidia’s strategy extends beyond GPUs and into a much larger portion of the AI infrastructure stack.

SpaceX and Oracle also represent significant wins, providing Nvidia with both marquee technology customers and major enterprise-scale deployments.

The processor is designed to work alongside Nvidia’s next-generation AI platform known as Vera Rubin, allowing customers to purchase tightly integrated CPU and GPU systems from a single supplier.

That strategy could significantly increase Nvidia’s influence inside data centers.

Instead of selling just one critical component, Nvidia is positioning itself as a provider of complete AI computing systems.

The business implications are substantial.

Nvidia is already one of the most valuable companies in the world and remains the dominant supplier of AI hardware. Expanding into CPUs creates a new revenue opportunity while putting the company in more direct competition with Intel, AMD, and other chipmakers.

The announcement also highlights how quickly AI infrastructure spending continues to grow.

Technology companies are investing hundreds of billions of dollars into data centers, processors, networking equipment, and energy infrastructure as they race to build increasingly capable AI systems.

As demand shifts toward autonomous AI agents and more sophisticated workloads, companies are looking for hardware specifically designed for those tasks.

Nvidia’s strategy is simple: ensure that as AI computing expands, more of that spending flows through Nvidia products.

With OpenAI, Anthropic, SpaceX, and Oracle already on board, the company has given itself a strong starting position in a market it previously did not control.

For competitors, the challenge is clear.

Nvidia is no longer trying to dominate just one part of the AI ecosystem. It is increasingly attempting to own the entire stack.

JBizNews Desk — Technology & Artificial Intelligence

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From inside a federal prison cell, disgraced crypto mogul Sam Bankman-Fried is making a bid for a White House lifeline.

Speaking exclusively to FOX Business correspondent Susan Li, the convicted FTX founder said he “absolutely” wants a presidential pardon, while declining to say whether his family is currently lobbying the administration on his behalf.

“I assume that you would want a pardon from the White House?” Li asked Bankman-Fried over the phone.

“Absolutely,” he responded. “It would be obviously, you know, ultimately up to the president, not up to me.”

JAMIE DIMON CALLS COINBASE C.E.O. ‘FULL OF S–T,’ VOWS TO FIGHT CRYPTO-FRIENDLY BILL IN CONGRESS

“But have, say, your parents or anyone that you’ve been in contact with at all?” Li asked. 

“I can’t speak for them,” Bankman-Fried said.

In March 2024, the former crypto king was sentenced to 25 years in prison after he was found guilty on two counts of wire fraud and five counts of conspiracy following the collapse of his crypto empire FTX in November 2022. The court also found that FTX customers lost $8 billion, FTX’s equity investors lost $1.7 billion, and lenders to the Alameda Research hedge fund Bankman-Fried founded lost $1.3 billion.

Despite his conviction, Bankman-Fried continued to argue that his prosecution was unjust, pointing to the fact that bankruptcy payouts have increased due in part to the recovery in cryptocurrency markets.

“I didn’t steal user funds either,” he told Li. “Customers have been repaid now 170% or so on their deposits. It’s one of the very few cases where the platform was over-collateralized, where customers were more than made whole. And yet there was, you know, not just a criminal investigation, but a prosecution. And, you know, dozens of years of sentence[s].”

“I can only tell you what I think and, you know, ultimately, customers have been repaid again nearly twice what they had on the platform,” Bankman-Fried said, “and it’s a great disservice to them that it has taken three years.”

Bankman-Fried also said he regrets missing out on the artificial intelligence boom and praised Elon Musk’s business acumen.

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When asked about his fear of missing out, Bankman-Fried said: “It’s a concern I have. You know, there’s a lot that I did try and position, you know, obviously as a platform towards the future, but my venture fund as well, and to try and play a role in that. I’d certainly much rather be, you know, able to help that out from the outside than in here where there’s very little I can do.”

“I think SpaceX has extremely large potential,” he said. “There are some parallels here where… frankly, there are very few companies that are well positioned to play a large role in the space industry. It’s one of those very few companies and I foresee it having an extremely large amount of upside, you know, even from where it is today, let alone where it was when we invested. And, you know, very few people have been able to grow companies like Elon has.”

READ MORE FROM FOX BUSINESS

FOX Business’ Suzanne O’Halloran contributed to this report.

Legendary NFL quarterback Tom Brady’s latest business venture is hitting the beverage shelves in a market expected to reach $11 billion by 2030. 

Brady, as part of his latest partnership expansion with Gopuff, announced the launch of Good Nut, a premium line of organic coconut water, on Monday. 

With consumers conscious of seeking less processed, lower-sugar beverages today, the market for coconut water continues to rise. Gopuff, the instant commerce leader, identified that customers were buying coconut water, with sales surging at 115% year-over-year on its platform. 

CLICK HERE FOR MORE SPORTS COVERAGE ON FOXBUSINESS.COM

As a result, Brady and Gopuff are capitalizing on the shift. 

“Gopuff has a unique ability to understand what consumers want and get great products into their hands in minutes,” Brady said in an exclusive statement to Fox Business. “We had a great experience working together on GOAT Gummies, and that trust made it easy to team up again on Good Nut. From product development to launch, we’ve been aligned on creating something Gopuff customers would actually want to drink.”

TOM BRADY JOINS GOPUFF, INSTANT COMMERCE LEADER, IN MULTIYEAR STRATEGIC PARTNERSHIP 

Brady has always been one to think about everything that goes into his body, making coconut water something he aligned with quickly. In fact, the idea began because chocolate coconut water is a staple in the Brady household with himself and his kids. 

“It’s something I’ve enjoyed for years, and hydration has always been an important part of my routine, during my playing career and still today,” he said.

“Hydration has always been a big part of my routine, and while coconut water has been a staple for me, I knew we could take it to a completely different level by teaming up with Gopuff. With Good Nut, we focused on keeping the ingredients simple and clean, making sure it’s exactly what I’d want in my own fridge.”

Good Nut uses organic Vietnamese coconuts, delivering a clean, refreshing hydration experience in its 11.8-ounce can. And it also comes in three variations – original, chocolate and sparkling. 

“We quickly realized there was an opportunity to shake up the category with a product that tastes incredible, uses great ingredients, and has a bold brand that gets people talking,” Tyler Stewart, head of marketing at Gopuff, said in a statement. “Blending premium products with brands that are playful, unexpected, and don’t take themselves too seriously has become a huge part of how we build together with Tom. 

“Whether it’s GOAT Gummies, our lobbying campaign with Super Monday Off, or now Good Nut, we’re always trying to give our customers and fans more of what they want, and of course entertain them a little along the way.”

As Brady said in a statement to Fox Business, “One of the most rewarding parts of this chapter of my life has been building brands from the ground up.” Brady already worked with Gopuff on GOAT Gummies, an organic, vegan snack brand crafted in France that contains no artificial sweeteners, dyes, or flavors, while being made with real fruit. 

Now, Brady continues his brand-building post-playing career with yet another health-conscious consumer product.

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“With Good Nut, we wanted to create something fun that people would genuinely enjoy. It’s been exciting to bring that vision to life,” he said. 

Good Nut is available exclusively on Gopuff at $3.29 per can, with discounted pricing of $2.96 per can for FAM members on the platform.

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An Iranian news outlet closely associated with intelligence circles in the Islamic Revolutionary Guard Corps has claimed that reports of tensions between President Donald Trump and Israeli Prime Minister Bibi Netanyahu before Israel’s strike on Iran were part of a coordinated effort to mislead Tehran and lower its guard.

According to a report published by Raja News, the flood of media reports suggesting disagreements between Washington and Israel was intended to convince Iranian officials that an Israeli attack had either been canceled or significantly delayed.

The outlet pointed to reports describing Trump’s opposition to military action, statements indicating that “the decision is mine,” and Israeli media accounts suggesting that Netanyahu was considering postponing a response and refraining from immediate action.

However, Raja News argued that those reports were part of what it called a “big lie” and a calculated deception campaign. The Israeli operation carried out in the early morning hours against targets in Iran, the report asserted, demonstrated that the narrative of a serious dispute between the United States and Israel was designed to create a false sense of security among decision-makers in Tehran.

The publication compared the strategy to a classic “good cop, bad cop” operation. According to the report, Trump played the role of the reassuring figure who appeared to be restraining Israel, while Netanyahu maintained a low public profile and projected calm before the attack was ultimately launched.

Raja News also criticized Iranian media outlets aligned with the country’s reformist camp, accusing them of eagerly embracing claims of a major divide between Washington and Jerusalem. The report argued that those media organizations not only fell victim to the alleged psychological operation but also helped spread it throughout Iran.

In particularly sharp language, the outlet accused those media figures of becoming the “foot soldiers of the enemy in the war of perception” by amplifying what it characterized as a false narrative.

The report concluded by asserting that the strike once again demonstrated close coordination between the United States and Israel. “The United States and Israel are two sides of the same coin,” the publication claimed, arguing that the overnight operation served as further evidence of that reality.

{Matzav.com}

A massive 7.8-magnitude earthquake rocked an island in the Philippines Monday, cratering buildings and killing at least 32 people, according to officials. The quake was followed by more than 130 aftershocks ranging from 1.3 to 6.7.

The quake struck off the coast of Mindanao Island in the southern Philippines at 7:37 a.m. local time and triggered tsunami alerts that were later canceled. Video footage shows buildings collapsing. About 100 people were injured, dozens are missing, and about 10,000 people were evacuated. The earthquake triggered landslides in some areas, killing 17 in the coastal province of Sarangani, which also temporarily lost power. It also triggered small tsunami waves that reached the coasts of Japan and Indonesia, measuring a few centimeters to one meter.

The Office of Civil Defense said that in General Santos, the city closest to the epicenter, 10 people were killed and 22 are missing.

Small but powerful waves from a minor tsunami reach the coastat Imana Village in northern Sulawesi, Indonesia. (From a post on X)

Mindanao, the second largest Philippine island, houses a population of around 26 million.

“The national government is moving and we will not leave Mindanao behind,” Philippine President Ferdinand Marcos Jr. said in a statement, assuring the public that the government was coordinating a response. He also ordered the cancelation of schools; today was the first day of the school year in the Philippines.

Video footage shows terrified students in the Davao Occidental province crouching on the shaking ground while a roof crumples behind them. The school later said that no one had been injured.

Terrified students and teachers “drop, cover and hold on” during the quake in the Davao Occidental province. (From a post on X)

Sitting on the unstable “ring of fire,” the Philippines is susceptible to earthquakes, though they are usually minor and pass without incident.

SANTO DOMINGO, Dominican Republic (AP) — A pilot and co-pilot from the United States have died in a fiery plane crash as they attempted an emergency landing in the Dominican Republic, authorities said.

According to what former MLB player Yadier Molina posted on his Instagram account, the plane that crashed in which the pilot and co-pilot, the only people on board, lost their lives was heading to Texas to pick up him and his family. The accident occurred in La Romana, Dominican… pic.twitter.com/hJjDrS5Er0

— Mike Rodriguez (@mikedeportes) June 8, 2026

The incident occurred Sunday near the southern coastal town of La Romana, according to a statement by the Dominican Institute of Civil Aviation, which identified the pilot and co-pilot as U.S. citizens. It wasn’t immediately known what caused the crash. No passengers were aboard.

MLB All-Star former catcher Yadier Molina said on social media that the plane was bound for Texas to pick him up, along with family and friends.

“My condolences to the pilots and their family!” he wrote. Molina and his group were headed to Puerto Rico.

Officials said the plane had departed from Puerto Rico and landed in the Dominican Republic to refuel before heading to Texas.

The pilot and co-pilot reported an emergency shortly after taking off from the Dominican Republic, authorities said.

WASHINGTON — One simple question hung over a House hearing room on Thursday: when an Amazon package lands on your porch, who actually employs the person who dropped it off? At a June 4 hearing of the House Subcommittee on Health, Employment, Labor, and Pensions, titled “Examining the Policies and Priorities of the NLRB,” lawmakers pressed Crystal Carey, the top lawyer at the National Labor Relations Board, over her decision to settle a case that could have answered that question in a way the company did not want.

Here is the background in plain terms. Amazon does not directly employ most of the drivers in its branded vans. It contracts with thousands of small companies it calls Delivery Service Partners, and those firms hire the drivers — hundreds of thousands of them, delivering millions of packages a day.

The dispute began under the Biden administration. Labor board investigators in California found that Amazon was a joint employer of drivers working for one such contractor, Battle-Tested Strategies, a former partner in Palmdale, California, whose drivers had organized with the Teamsters. Being ruled a joint employer would mean Amazon itself — not just the small contractor — is legally responsible for bargaining with the union and answering for working conditions.

Carey, whom President Trump appointed and who was sworn in in January, moved to settle the case instead. Under her proposed deal, Amazon would pay about two weeks’ wages to dozens of those drivers but would not have to admit wrongdoing or be declared a joint employer. The core question of who employs the drivers would be left unanswered.

There is also a conflict-of-interest question. Before joining the government, Carey was a partner at Morgan Lewis, a firm that has represented Amazon. Representative Ilhan Omar pressed her on whether she should have stepped aside. Carey said she was not required to recuse herself, telling lawmakers her old firm was not involved in this particular case and that more than a year had passed since she personally represented the company.

Why does this matter beyond one company? The joint-employer question reaches across the economy. Franchises, staffing agencies and gig platforms are all built on the idea that the big brand is not the legal employer of the workers who do the work. A finding that Amazon is the employer of its contract drivers could shake that entire model.

The settlement is not final. Administrative Law Judge Rebekah Ramirez must decide whether to accept it. If she does, the Teamsters are expected to appeal, potentially to the labor board in Washington and then to federal court. Separately, Amazon is pursuing a broader legal argument that the structure of the NLRB itself is unconstitutional.

The hearing was not only about Amazon. NLRB Chairman James Murphy and Carey both faced questions about a growing backlog of cases and years of tight funding at the agency that referees labor disputes.

For the driver in the Amazon van, the immediate stake is a couple of weeks’ pay. For the wider workforce, the real stake is the question the settlement leaves open — whether the country’s largest companies are responsible for the workers who power them, or whether a layer of contractors stands between those companies and the law.

JBizNews Desk — Washington

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Travelers flying to and from Israel received unwelcome news Monday after Hungarian low-cost carrier Wizz Air announced a temporary suspension of its flights to the country following the latest security developments in the region.

The airline said it is canceling all flights to Israel on June 8 and June 9 as a precautionary measure in response to the ongoing escalation.

The decision came after a Wizz Air flight from Warsaw to Ben Gurion Airport was diverted to Larnaca, Cyprus, and did not complete its journey to Israel. According to reports, the pilot elected not to continue the flight to Tel Aviv. Wizz Air is among the first foreign airlines to suspend service to Israel in response to the current situation.

The company stated that, as of now, it plans to resume flights on June 10, subject to security conditions. Wizz Air emphasized that the safety of its passengers and crew remains its highest priority and said it continues to monitor developments in coordination with the relevant authorities.

Meanwhile, the Israel Airports Authority stressed that Ben Gurion Airport remains fully operational. The statement followed a security assessment conducted by the transportation minister and other officials.

Airport authorities said they are maintaining ongoing communication with the Ministry of Transportation, the Civil Aviation Authority, the Home Front Command, and other professional agencies to assess the evolving situation.

Officials also urged travelers to stay in close contact with their airlines and monitor official announcements, warning that additional carriers could adjust their flight schedules depending on future security developments.

Julie Su, New York City’s first deputy mayor for economic justice, said Mayor Zohran Mamdani’s administration is making it a priority to spread the city’s job growth across more industries, in comments reported Wednesday that acknowledged recent gains had been too concentrated. Su, who took the newly created post on March 1, called the task “an all-hands-on-deck moment.”

The data behind the concern is concrete. New York City added just 27,100 jobs in 2025, according to seasonally adjusted figures from the New York State Department of Labor, with losses across manufacturing, trade and transportation, retail, information, finance, professional and business services, leisure and hospitality, and government. The lone major source of gains was health care and social assistance, led by roughly 70,000 home health-care positions that rank among the lowest-paying jobs in the city.

The weakness carried into 2026. The office of New York City Comptroller Mark Levine reported that in the first three months of the year, the only sector with significant gains was health care and social assistance, up about 14,000 jobs, while transportation and warehousing, leisure and hospitality, and trade lost jobs. Over the prior 12 months, private-sector employment outside the health sector fell by about 13,000 jobs.

Unemployment has climbed as well. The Center for an Urban Future, a nonprofit research group, reported that private-sector job creation in 2025 fell 71% from 2024, and that the city’s unemployment rate stood at 5.6%, including 9.6% for Black New Yorkers as of December. The group described the rise as the largest increase since May 2020.

Mamdani, who took office on January 1, has moved fastest on the affordability agenda he campaigned on. He secured state funding for free childcare for 2-year-olds, named board members positioned to freeze rents on rent-regulated apartments, redesigned bus routes, and announced plans to open five city-run grocery stores. Those measures target the cost of living rather than job creation.

The administration has not yet named a permanent leader for the New York City Economic Development Corporation (NYCEDC), the roughly 500-person public authority that prior mayors used to attract private investment. The agency manages a large real-estate portfolio, runs the city’s ferry system, and helped drive projects including Hudson Yards, the new Yankee Stadium, and the High Line.

Su said the administration views making the city more affordable and livable as a way to keep workers and draw employers, and that robust, widely shared growth is central to its economic-justice goals. Aides said Mamdani recognizes he will need to work with the business community to address the city’s challenges.

Business leaders have raised concerns about Mamdani’s broader platform, which includes higher taxes on corporations and high earners to fund his programs. Critics warn the measures could push companies and wealthy residents out of the city, shrinking the tax base. Supporters argue affordability measures keep workers in place and money circulating in local neighborhoods.

The hospitality sector is a particular focus. The industry has lost roughly 4% of its workforce since 2020, and city officials said they are counting on two summer events—the World Cup and celebrations marking America’s 250th anniversary—to boost visitor spending.

The fiscal stakes are direct because the programs Mamdani has expanded depend on a growing tax base. State and city data and independent research all describe a labor market shedding jobs across most sectors while adding them mainly in lower-paying health-care roles. Administration officials said they intend to broaden growth but have not yet detailed a comprehensive jobs plan or filled the city’s top economic-development post.

JBizNews Desk — New York

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JERUSALEM (VINnews)-Transportation Minister Miri Regev announced that Israel’s airspace remains open and Ben Gurion Airport is operating on schedule, even as officials weigh a request to restrict the number of passengers inside the terminal.

The Home Front Command has asked to limit passengers at the airport to 2,500 at any given time amid ongoing security concerns, according to the Transportation Ministry. Ministry officials said professional consultations are continuing, but no decision has been made on implementing new restrictions.

Regev’s statement comes as Israeli authorities monitor the security situation closely. The airport, Israel’s main international gateway, has continued normal operations until further notice.

Further updates are expected as consultations progress.

Iran on Monday accused Israel of undermining diplomatic efforts with the United States, warning that the latest exchanges of fire between the two countries threaten to deepen instability and further complicate already fragile negotiations between Tehran and Washington.

Speaking to reporters, Iranian Foreign Ministry spokesman Esmaeil Baghaei said ongoing hostilities would only intensify what he described as an already “chaotic diplomatic process.” He noted that communications between Iran and the United States are continuing, but said they are taking place under conditions of “extreme suspicion.”

Baghaei argued that Israel’s military activities in Lebanon, regardless of whether they were carried out with American approval, were intended to sabotage diplomatic initiatives and prevent progress toward a political resolution.

The Iranian spokesman further asserted that the United States bears responsibility for maintaining the ceasefire reached on April 8 and should be held accountable for any violations, including military actions attributed to Israel. He also cautioned that the international community should be concerned about the possibility of the conflict expanding across the region.

“The United States bears direct responsibility for any action the Zionist regime (Israel) takes in relation to violating regional peace and security against Iran,” ⁠Baghaei said.

According to Baghaei, Sunday’s visit to Tehran by Pakistan’s interior minister formed part of ongoing efforts to facilitate indirect communications between Iranian and American officials.

Turning to nuclear issues, Baghaei said Iran would take action in response to any measure adopted against it during this week’s meeting of the International Atomic Energy Agency’s Board of Governors.

He also launched a sharp attack on IAEA Director General Rafael Grossi, accusing him of ignoring realities on the ground and allowing political bias to influence his positions. Baghaei argued that such conduct has damaged the credibility and impartiality of the U.N. nuclear watchdog.

Q: When Sadaam yimach shemo is buying up scuds or other weapons, what should be our reaction?

A: Now I’m not a general. If I were able to do it, I might destroy him in some way. Secretly maybe, not so publicly. If you would find somebody who will poison him quietly, it wouldn’t be a bad idea. But that’s not the subject now.

As soon as you read about that in the newspapers, know that the purpose is yiras Hashem, to think of Hashem. Say, “Ribono Shel Olam, הפר עצת אויבנו. Ribono Shel Olam, save the Jews in Eretz Yisroel. Eretz Yisroel has so many frum Jews kein yirbu. So many talmidei chachamim, tzaddikim, yekarim, ahuvim. Hakodosh Boruch Hu, have rachmanus on them.”

Now, you’re doing a good thing, but He’s doing you a better thing. It’s done for the purpose that you should utilize that news to pray to Hashem. That’s what it’s for. That’s the achievement that was made for your purpose. They surely should have that to’eles, they surely have to hear that news and they should all cry out to Hashem.

(November 1997)

A unique and educational shiur is scheduled to take place Monday night, June 8, when the Agudath Israel of America Torah Projects Commission hosts a special shiur in Monsey, NY featuring Rav Amitai Ben David, acclaimed author of Sichas Chulin and a noted expert in the practical and halachic aspects of shechitah.

The event, which will begin at 8:00 p.m. at Kollel Kinyan Hadaf in Monsey, is expected to draw Daf Yomi participants, bnei Torah, rabbanim, and members of the wider community interested in gaining a deeper understanding of one of the most fascinating and practical areas of halachah.

What will make the evening particularly noteworthy is that the shiur will be accompanied by a live shechitah and treifos demonstration, providing attendees with a rare opportunity to see firsthand many of the concepts discussed in Maseches Chulin and other related areas of Torah study. Through practical illustrations and real-world examples, participants will be able to better appreciate the intricate halachos governing kosher slaughter and the examination of animals.

Organizers say the program is designed not only for Daf Yomi learners currently studying or reviewing the sugyos of Chulin, but also for anyone seeking a clearer understanding of the halachic foundations behind the kosher food that appears on Jewish tables every day.

Rav Amitai Ben David has earned widespread recognition for his ability to present complex halachic topics in a clear and engaging manner. His work, Sichas Chulin, has become a classic for those learning about shechitah and treifos.

The shiur will take place at Kollel Kinyan Hadaf, located at 2 Ribier Court, at the corner of Concord Road in Monsey, which is Ahavas Torah, the shul of Rav Ephraim Wachsman.

The event is being sponsored by Meal Mart.

{Matzav.com}

One of Wall Street’s most closely watched market-risk gauges has reached its highest level since the global financial crisis, prompting fresh warnings that investors may be underestimating how much risk has built up beneath the stock market’s powerful rally.

In a note released Friday, Citigroup told clients that global equity markets are displaying their frothiest conditions since 2008, though the bank stopped short of declaring that a bear market is imminent. The warning comes as stocks continue to trade near record highs despite rising interest-rate concerns, geopolitical tensions, and growing questions about whether the artificial-intelligence boom can justify today’s lofty valuations.

At the center of Citi’s caution is its proprietary Bear Market Checklist, a model that tracks conditions historically associated with major market downturns. The latest reading stands at 10 of 18 warning indicators globally, the highest since the financial crisis. The United States scored an even higher 11.5 out of 18, while Europe registered a comparatively modest 5 out of 18.

According to Citi strategist Beata Manthey, the significance is not merely the current score but what often happens next. Historically, once the checklist reaches double digits, warning signs tend to accumulate more quickly, increasing the likelihood that market conditions become increasingly fragile.

The concerns stem from several familiar themes.

Valuations across large segments of the market have climbed sharply, particularly among companies tied to artificial intelligence. Investor sentiment remains highly optimistic, corporate spending on AI infrastructure continues to surge, and the pace of initial public offerings and secondary stock offerings has accelerated.

Historically, those conditions have often appeared late in market cycles rather than early ones.

Citi is not the only major institution sounding a note of caution.

Bank of America strategist Michael Hartnett warned Friday that several market risks could challenge the rally in the coming weeks, while research firm BCA Research argued that the Federal Reserve may be underestimating inflationary pressures created by massive AI-related investment spending.

The common thread running through many of these warnings is artificial intelligence.

Over the past year, enthusiasm surrounding AI has driven billions of dollars into technology companies, semiconductor manufacturers, cloud-computing providers, and related industries. The rally has generated enormous gains for investors and pushed major stock indexes toward record territory.

But Friday provided a reminder of how quickly sentiment can shift.

Broadcom, one of the biggest beneficiaries of AI spending, reported quarterly revenue that surged 48% year-over-year to $22.2 billion. Yet the stock fell after investors judged the company’s outlook less impressive than expected. The decline contributed to a second consecutive session of weakness across semiconductor shares.

The market also faced pressure from a surprisingly strong May jobs report, which strengthened expectations that the Federal Reserve may keep interest rates elevated for longer than investors previously anticipated.

Higher interest rates tend to weigh most heavily on technology stocks because future earnings become less valuable when borrowing costs rise.

Despite the growing list of caution flags, Citi is not advising investors to abandon stocks.

The bank noted that several important indicators remain supportive. Credit markets, often viewed as an early warning system for broader financial stress, continue to show relatively healthy conditions. Corporate borrowing costs remain contained, and several risk measures remain below the levels that preceded past market crashes.

For perspective, Citi’s checklist reached approximately 17.5 out of 18 before the dot-com collapse and around 13 out of 18 before the 2008 financial crisis. While today’s reading is elevated, it has not yet reached those historic extremes.

That distinction helps explain why Citi continues to recommend buying market pullbacks rather than exiting the market entirely.

For everyday investors with retirement accounts, 401(k)s, and index funds, the message is less about panic and more about awareness. The market has enjoyed a powerful run fueled largely by optimism surrounding artificial intelligence and economic resilience. At the same time, professional investors are identifying an increasing number of conditions that have historically appeared before periods of heightened volatility.

Bull markets can remain strong longer than many expect. They can also change direction quickly.

The warning lights are flashing brighter than they have in nearly two decades. Whether they signal an approaching storm or simply a market that has become expensive remains one of Wall Street’s biggest unanswered questions.

This article is general business reporting and should not be considered investment advice. Investors should consult qualified financial professionals regarding individual financial decisions.

JBizNews Desk — Markets

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

In a breathtakingly ironic moment, Caroline McCaughey, a reporter for The New York Sun, asked a woman at a Graham Platner rally how she feels about the Democratic Senate candidate’s Nazi Totenkopf (death’s-head) tattoo. The woman said she thought it was much ado about nothing.

“I think people are making as much of it as they can because they don’t have a lot of substance around anything else,” the woman said. “And if they did, we’d hear about it, believe me.”

“They are trawling for dirt,” she added.

Then the reporter asked her, “So if he has, like, an Israeli flag tattoo … would that be a deal breaker?”

A Graham Platner supporter explains that a Nazi tattoo is “trawling for dirt,” while an Israeli flag tattoo would be a deal breaker. (Credit: Caroline McCaughey’s X account)

“For me?” the woman responds. “Honestly? Yeah. Israeli? Yeah. Because I don’t support genocide.”

The woman needs to sit with her statement and reflect on that for a while: A symbol of a real Nazi genocide of the Jewish people is fine; a symbol of a fake genocide of Palestinians is not.

The double standard is astonishing, and Democrats aren’t even pretending. James Carville, a veteran Democratic strategist who advised the Bill Clinton campaign, threw his support behind Platner, while openly admitting in an interview that he would find similar behavior among Republicans inexcusable.

The troubles of Maine Senate candidate Graham Platner, who is challenging Sen. Susan Collins (R-Maine) for the Senate seat, began soon after he announced his candidacy, when he came under fire for his Nazi Totenkopf (death’s-head) tattoo.

As soon as it became a liability, he had the tattoo inked over. His candidacy has been beset by other scandals, the latest of which involved sexting up to a dozen women who were not his wife.

TEHRAN (AP) – The Iranian military’s joint command said Monday it was halting its offensive operations after Israel and Iran exchanged fire in their first attacks since the U.S. struck a ceasefire with Tehran two months ago.

The joint command said that if Israel or its supporters carried out any further “aggression and hostile acts,” including in southern Lebanon, then “much more severe and crushing measures than before will follow.”

A new survey of potential 2028 presidential contenders suggests that Vice President JD Vance and former Vice President Kamala Harris currently hold commanding positions within their respective parties, placing them at the forefront of early speculation about the next White House race.

According to polling data highlighted by Political Polls, Vance led the Republican field with 38 percent support, while Harris topped the Democratic side with 37 percent.

Among Republicans, Secretary of State Marco Rubio followed Vance with 18 percent support, while Donald Trump Jr. registered 10 percent.

Some political observers have noted that both Rubio and Trump Jr. would likely back a Vance presidential campaign rather than launch competing bids of their own. Under that scenario, support currently attributed to those figures could ultimately consolidate behind Vance, potentially giving him the backing of roughly two-thirds of Republican voters represented in the poll.

President Donald Trump weighed in this week on the possibility of a Republican ticket featuring both Vance and Rubio. Praising the pair, he remarked, “So I watch them together. They get along great. They have a good relationship. They’re sort of similar in a lot of ways, but they’re very talented. I think the two of them running together as a team would be very unbeatable.”

Trump continued his praise by adding, “I would think that JD and Marco as a team would be very hard to beat, when you compare that to these low IQ people that we have on the other side.”

On the Democratic side, Harris remains a central figure in early presidential discussions. Earlier this year, the 2024 Democratic nominee indicated that she “might” seek the presidency again in 2028.

Polling averages compiled by Race to the White House and reported in February showed Harris leading the prospective Democratic field with 27.5 percent support. She was followed by California Governor Gavin Newsom at 22.7 percent. Representative Alexandria Ocasio-Cortez stood at nine percent, former Transportation Secretary Pete Buttigieg at 8.7 percent, Pennsylvania Governor Josh Shapiro at 4.9 percent, and Illinois Governor J.B. Pritzker at 3.4 percent.

Although Ocasio-Cortez recently stated that her “ambition is way bigger” than running for president in 2028, recent reports have suggested that she may nevertheless be positioning herself for a possible White House campaign.

{Matzav.com}

JERUSALEM (VINnews) — In an astonishing development from a historical perspective, the hostilities with Iran, which had paused for two months, have resumed on 23 Sivan. Interestingly enough, last year the Rising Lion campaign also included this date, which has deep symbolism in Jewish history, especially regarding ancient Persia and now modern Iran.

On 23 Sivan, Queen Esther implored King Achashverosh to cancel the  evil decree of Haman against the Jews. Two months previously Haman had met his fate, being hanged by the king for his treasonous behavior. However the decree of Haman remained in the official archives of Persia, and Esther feared that the antisemites in her empire would utilize the decree to instigate pogroms against the Jews.

The problem was that decrees in the Persian empire were permanent and could not be abrogated. Fortunately however, the wording of the original decree was ambiguous – “to be prepared for this day” and therefore it was now possible to use the same wording and simply add another clause ‘For Jews – to be prepared for this day – to avenge their enemies”, thus allowing Mordechai to add the crucial interpretation of the decree.

Thus this “second dispatch” was able to affect a change in the decree, and ever since 23 Sivan is considered a day of fortune for the Jewish nation, and especially regarding the Persian empire.

Netcapital Inc. struck a deal to acquire all of the mortgage banking assets and assumed liabilities of Resmac Inc. from parent company RezyFi Inc., a move that would create a new residential mortgage subsidiary and potential spinout.

Netcapital, a Boston-based capital markets technology firm, announced Thursday that it signed a nonbinding letter of intent (LOI) with RezyFi. Under the terms, a newly formed and wholly owned South Dakota subsidiary, SD Holdco, would purchase the Resmac assets in an all-stock deal valued at $5 million.

Resmac is a residential mortgage bank that operates in 11 states and originated about $110 million in mortgages in 2025, according to mortgage tech platform RETR. It holds active Title II nonsupervised direct endorsement lender approval through the U.S. Department of Housing and Urban Development (HUD) and maintains warehouse credit facilities.

If the deal closes, RezyFi will transfer Resmac’s state mortgage lending licenses; HUD and Federal Housing Administration (FHA) approvals; mortgage servicing rights and loans; loan origination and technology systems, trade names and trademarks; and customer and borrower relationships, the companies announced.

“Entering into this LOI reflects our strategy to pursue opportunities that can add new revenue streams while leveraging our existing business, technology infrastructure and capital markets capabilities,” Todd Violette, Netcapital’s CEO, said in a statement.

“SD Holdco could become a dedicated platform for growth in financial services while allowing Netcapital to remain focused on its AI-powered private capital markets strategy.” 

The proposed transaction would be structured as an asset purchase by SD Holdco, which would issue 2.5 million shares of Series A convertible preferred stock with a stated value of $2 per share to RezyFi. 

RezyFi could earn up to 1 million additional preferred shares if the Resmac business unit generates at least $10 million in cumulative GAAP revenue within 24 months of closing, and a further 500,000 preferred shares if SD Holdco completes a filing for a public offering with at least $10 million in gross proceeds, Netcapital said.

Netcapital is considering distributing its SD Holdco interest to existing Netcapital shareholders as a dividend-type spinout. That structure would result in a separate public financial services company in which both Netcapital shareholders and RezyFi would hold equity stakes.

This post was originally published on here.

The Israeli Air Force carried out a sweeping operation against key Iranian military assets on Monday morning, targeting and destroying strategic air-defense systems across the country in a move aimed at expanding Israel’s operational freedom over Iranian territory.

Acting on intelligence provided by the IDF Intelligence Directorate, dozens of Israeli fighter jets participated in the large-scale mission, which focused on defensive infrastructure maintained by the Iranian regime.

In recent months, Iran had been working to rebuild and strengthen its air-defense network after suffering significant setbacks during Operation Roaring Lion. New detection and interception systems had been deployed in multiple locations throughout the country as part of that effort. According to the IDF, the latest strikes successfully eliminated many of those restored capabilities.

Military officials said the operation further weakens Iran’s ability to defend its airspace and builds upon the damage inflicted during Operation Roaring Lion, when Israeli forces severely degraded the regime’s defensive network.

The latest attacks come as fighting between Israel and Iran continues to intensify. Following Iran’s missile attacks against Israel beginning Sunday night, Israel launched two separate waves of retaliatory strikes aimed at strategic targets inside Iran.

The opening phase of the operation concentrated on Iran’s air-defense infrastructure. Israeli aircraft struck surface-to-air missile batteries and related systems in the Tehran area, as well as locations in central and western Iran, seeking to reduce the regime’s ability to detect incoming threats and engage hostile aircraft or missiles.

A second wave of strikes shifted focus to critical economic and industrial targets in southwestern Iran. Among the sites hit was a major petrochemical facility in the Ahvaz region, where Israeli forces targeted infrastructure connected to Iran’s energy sector.

{Matzav.com}

The Federal Reserve is heading into its June policy meeting more divided than it has been in years, and Friday’s stronger-than-expected jobs report only sharpened the debate over whether interest rates should move higher, lower, or remain exactly where they are.

What was once an internal policy disagreement has increasingly spilled into public view.

Federal Reserve Governor Michelle Bowman argued in recent remarks that raising rates to combat the current inflation surge may do more harm than good, contending that much of today’s inflation pressure stems from energy costs and tariffs rather than excessive consumer demand. In her view, higher rates cannot produce more oil or lower global energy prices, making additional tightening an ineffective response.

Others see the situation very differently.

Cleveland Federal Reserve President Beth Hammack has repeatedly emphasized the need to keep monetary policy restrictive until inflation clearly returns toward the Fed’s 2% target. Officials in that camp worry that easing too soon could reignite price pressures and undermine years of progress fighting inflation.

The disagreement became visible during the Federal Reserve’s late-April policy meeting. According to meeting records, officials were not merely debating timing—they were debating direction. One faction favored reducing rates, the majority preferred holding steady, while a more hawkish group resisted any language that might signal future easing.

Friday’s employment report strengthened the hawkish argument.

The Bureau of Labor Statistics reported that employers added 172,000 jobs in May, more than double economists’ expectations. The unemployment rate remained at 4.3%, while revisions boosted prior months’ hiring totals, suggesting the labor market remains healthier than previously believed.

For policymakers concerned about inflation, those numbers remove one of the strongest arguments for rate cuts.

The Federal Reserve traditionally lowers rates when economic growth weakens or unemployment rises sharply. Neither condition currently exists. Instead, the economy continues creating jobs at a pace that suggests underlying demand remains strong.

Meanwhile, inflation remains stubborn.

Consumer prices were running at roughly 3.8% annually through April, well above the Fed’s official target. Rising energy costs, amplified by ongoing Middle East tensions and elevated oil prices, have complicated the central bank’s effort to restore price stability.

Financial markets responded immediately to Friday’s report.

Interest-rate futures moved to reflect growing expectations that the Federal Reserve may keep rates elevated longer than previously anticipated, while some traders even began assigning meaningful odds to another rate increase before year-end. Treasury yields climbed and expectations for future easing continued to recede.

At the center of the debate is the Federal Reserve’s dual mandate.

The central bank is tasked with maintaining both stable prices and maximum employment. Normally, those goals move together. Today, they do not.

Inflation argues for tighter policy. Any future signs of labor-market weakness would argue for easier policy.

The challenge is determining which risk deserves greater attention.

That decision now falls to Federal Reserve Chairman Kevin Warsh, who will preside over his first policy meeting on June 16–17 after succeeding Jerome Powell in May.

Warsh enters the role facing a committee divided over the path forward, inflation that remains nearly double the Fed’s target, and a labor market that continues to surprise economists with its resilience.

How he manages those competing pressures will shape market expectations not only for June but for the remainder of 2026.

For consumers, the stakes are straightforward.

As long as the Federal Reserve remains focused on inflation, borrowing costs for mortgages, auto loans, credit cards, and business financing are likely to remain elevated. Earlier this year, investors widely expected multiple rate cuts in 2026. Today, the debate has shifted dramatically toward whether any meaningful relief arrives at all.

The next major test comes with next week’s inflation report. A hotter-than-expected reading could strengthen the case for keeping rates higher for longer. A cooler reading would give policymakers favoring rate cuts fresh ammunition.

Until then, America’s central bankers remain united on one point only: they are not united on where interest rates should go next.

JBizNews Desk — Markets

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

Brig. Gen. (res.) Amir Avivi, founder of the “HaBitchonistim” movement, rejected the claim that Israel erred in striking Beirut on Sunday.

In an interview with Kol Chai on Monday morning, he said that Iran’s unusually sharp response shows just how much pressure Hezbollah is under and how concerned Tehran is about losing its Lebanese proxy.

“It’s clear they didn’t make a mistake,” Avivi said, saying that Iran fully understands the level of force Israel is capable of using against them, and nevertheless chose to launch missiles.

“This reflects Hezbollah’s severe strategic distress,” he said. “Iran has a deep fear of losing Hezbollah.”

Avivi noted that this is the first time Iran has directly attacked Israel in response to a strike in Dahiyeh. In his view, this indicates that Israel’s attack in Beirut was perceived in Tehran as a real threat to Hezbollah’s survival, to the point that Iran was willing to risk another confrontation with Israel.

Avivi also addressed the Israeli strikes on a petrochemical complex in Iran, noting that these are key infrastructures that support Iran’s military industry, energy sector, fuel production, and plastics industry.

“Damaging these facilities nearly paralyzes the Iranian economy,” he said, adding that Iran has already drastically reduced its petrochemical production and is being forced to reserve much of its remaining output for domestic needs.

Avivi assessed that the combination of US sanctions, the economic crisis, infrastructure damage, and expected shortages of electricity and water during the summer could lead to renewed protests inside Iran and potentially undermine the regime’s stability.

At the same time, he declined to estimate how long the exchange of attacks would continue, saying that much depends on coordination between Israel and the US and on the evolving policy of President Donald Trump.

“Over the past two months, the policy has become less clear and less decisive,” Avivi said. However, he argued that one element has remained unchanged: the American demand that Iran relinquish its enriched uranium and be prevented from obtaining military nuclear capability.

Avivi maintains that there is no realistic chance Iran will voluntarily give up its uranium stockpile.

“From their perspective, without uranium there is no regime,” he said. “There is no way to achieve that objective without military action.”

According to Avivi, Trump is facing pressure from Gulf states, political actors within the United States, and economic considerations, including energy prices. Nevertheless, he believes that if negotiations fail to produce a genuine Iranian concession, hostilities will resume sooner or later.

“It is impossible to achieve the war’s objectives without bringing them to their knees,” he concluded. “We will have to keep striking, and I hope the current opportunity will be used to do so with full force.”

(YWN Israel Desk—Jerusalem)

JERUSALEM (VINnews) — Iran claimed that the Israeli strike early Monday morning was carried out using air-launched ballistic missiles, a capability that, according to reports, is possessed by only a small number of militaries.

Israel has never officially acknowledged using such missiles, but according to previous foreign reports, it possesses more than one type of air-launched ballistic missile:

• Rafael Advanced Defense Systems’s “Ankor” (Sparrow), originally developed as a target missile to simulate surface-to-surface missiles and used by Israel in several tests of the Arrow system.
• “Rampage,” produced by Elbit Systems and Israel Aerospace Industries.
• “Rocks” produced by Rafael and reportedly based on the Ankor missile.

Ballistic missiles, unlike cruise missiles, are considered more difficult targets for dense air-defense systems. Cruise missiles are slower, although they can alter their flight path. Ballistic missiles are usually launched from known launch sites and generally follow a fixed trajectory that cannot easily be changed. Precise, high-speed ballistic missiles launched from aircraft rather than from the ground can overcome some of these limitations, or at least eliminate the disadvantage of a known launch point.

It was previously reported that the Rampage missile can be launched from a fighter jet at a distance of 150 kilometers (93 miles), making detection and interception more difficult for enemy defense systems.

“The greatest advantage of missiles launched from aircraft compared to cruise missiles is the speed with which they penetrate defenses,” said Jeffrey Lewis, director of a research institute in California. “The disadvantage used to be accuracy,  and that appears to have been solved.”

As part of Operation “Summit of Fire” about a year ago, it was claimed that Israel used these special missiles when it struck a facility hosting meetings of Hamas leadership in Qatar while they were discussing a hostage deal. At the time, The Wall Street Journal reported that the strike was carried out by 12 Israeli Air Force aircraft—eight **F-15 Eagle**s and four **F-35 Lightning II**s—which launched ballistic missiles into space above Saudi Arabia, and those missiles struck the villa in Doha.

Ground-launched ballistic missiles, or surface-to-surface missiles, are used by many militaries around the world, as well as by organizations such as the Houthis in Yemen. Cruise missiles are also widespread. However, ballistic missiles launched from aircraft are unusual and, according to previous reports, are possessed by only a handful of countries, including Russia, China, and Israel.

Air-launched ballistic missiles are carried by aircraft, allowing them to be fired from different locations. “They can come from any direction and make defense against them more difficult,” said Uzi Rubin, a two-time recipient of the Israel Defense Prize and the first head of the “Homa Administration,” under which the Arrow missile was developed.

The United States previously tested a hypersonic ballistic missile known as the AGM-183 ARRW, but the project did not receive funding last year and was effectively canceled. Because the U.S. already possesses a large arsenal of cruise missiles and other long-range weapons, Washington has shown little interest in developing air-launched ballistic missiles. A U.S. Air Force official previously told Reuters that such missiles are not used in Air Force operations.

A senior defense-industry official previously told Reuters that because air-launched ballistic missiles combine guidance systems, warheads, and rocket motors, many countries that already possess precision-guided weapons have the ability to develop them:

“It’s a smart way to combine components and technologies and turn them into a new weapon that provides much greater capabilities, and therefore more options, at a reasonable cost.”

About two years ago, before the rounds of war with Iran, leaked Pentagon documents mentioned that Israel had been working on air-launched ballistic missiles. The documents referred to “Golden Horizon”, a system whose existence had never previously been publicly mentioned either in Israel or abroad, and to Rafael’s Rocks missile.

The Rocks missile was unveiled by Rafael in 2019 and, according to reports, is based on the Ankor missile. Described by Rafael as an air-to-surface missile, it is launched “from significant stand-off ranges well outside the coverage zones of enemy air-defense systems and follows a supersonic trajectory toward the target.”

According to Rafael’s website: “This reduces the exposure of the launching aircraft to enemy threats and improves the chances of successfully striking targets. It can be used against high-value targets, stationary or relocatable, and even in environments where the enemy employs countermeasures and electronic interference.”

According to the company, the Rocks missile has “proven itself on the battlefield,” which may suggest that it has already been used operationally. Rafael states that the missile is capable of destroying targets both above ground and underground.

A growing number of Jewish Democrats are warning that hostility over Israel’s war in Gaza is increasingly spilling into hostility toward Jewish Americans, creating a political problem for the party ahead of 2028, Axios reported.

The concern comes as several prominent Jewish Democrats, including Pennsylvania Gov. Josh Shapiro, Illinois Gov. JB Pritzker, former Chicago Mayor Rahm Emanuel and Michigan Sen. Elissa Slotkin, are viewed as possible presidential contenders. Jewish voters remain a heavily Democratic bloc, but party officials warn that even small shifts could matter in swing states such as Pennsylvania, Michigan and Georgia.

Several recent incidents have fueled the alarm. Axios cited Graham Platner, the likely Democratic Senate nominee in Maine, who faced scrutiny over a Nazi-linked tattoo he said he did not understand at the time. It also pointed to Philadelphia Democratic congressional nominee Chris Rabb, whose campaign account reposted a claim that the Bondi Beach massacre of Jews was a false-flag attack by “Zionists,” and Texas Democrat Maureen Galindo, who called for a “prison for American Zionists.”

Howard Wolfson, a longtime Democratic strategist, told Axios that some Jewish Democrats in key states may struggle to support a nominee who is “decidedly hostile to Israel.” Rep. Jared Moskowitz, a Jewish Democrat from Florida, said the party is not taking the issue seriously enough. “Jews are starting to feel scared again,” he said.

The warning comes as Democratic support for Israel has fallen sharply. Gallup reported in February that 48% of Democrats view the Palestinian Territories favorably, compared with 34% who view Israel favorably. Still, some Democrats argue the issue is broader than one party. Emanuel told Axios, “I think the Democratic Party has an Israel issue, but I think the Republicans have a Jewish issue.”

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The Consumer Financial Protection Bureau (CFPB) said Friday that lenders may be required to consider a borrower’s immigration status when evaluating their ability to repay a mortgage or other credit product if that status could affect the borrower’s future income.

In a policy statement scheduled for publication in the Federal Register on June 8, the CFPB said existing federal lending laws may obligate creditors to consider information indicating that a consumer’s ability to earn income in the U.S. could change due to immigration-related circumstances.

Fox Business first reported the news.

Existing requirements under TILA

The guidance centers on existing requirements under the Truth in Lending Act (TILA), which require lenders to make a reasonable, good-faith determination that a borrower can repay a loan before extending certain types of credit.

“The Truth in Lending Act and its implementing Regulation Z require creditors to assess consumers’ ability to repay before offering mortgages and certain open-end credit products. This statement emphasizes to creditors that these requirements may obligate consideration of a consumer’s immigration status, especially where removal from the United States may disrupt the consumer’s income,” the document read.

The bureau said that when a lender has information suggesting a consumer’s immigration status could affect continued employment in the U.S., that information may be relevant to assessing future income and repayment ability.

“For example, a creditor may regard a credit applicant who is neither lawfully present nor permitted to work in the United States as being subject to removal,” the CFPB wrote, citing the Trump administration’s January 2025 executive order to enforce immigration laws against people who are unlawfully present in the country.

The CFPB noted that lenders already have the authority under the Equal Credit Opportunity Act (ECOA) to consider a borrower’s immigration status when evaluating repayment risk.

The agency said that if information available during the application process suggests a borrower’s income could change in the future due to immigration-related issues, lenders may need to factor that into their assessment of whether the borrower can afford the loan.

The bureau emphasized that the guidance “does not have the force or effect of law” and does not create new legal requirements. Instead, it is intended to clarify how existing lending regulations apply when a borrower’s immigration status may affect future earnings.

The policy statement marks the latest move by the CFPB under acting director Russell Vought, who is set to remain as its leader until Aug. 1.

According to a May 29 staff email obtained by Bloomberg Law, the CFPB is reportedly preparing for Vought’s departure. The outlet reported that Mark Paoletta, the CFPB’s chief legal officer, was named deputy director while retaining his role as the agency’s top lawyer and continuing as general counsel for the White House Office of Management and Budget (OMB).

Industry reactions

Industry groups and consumer advocates are expected to closely examine the guidance for its potential impact on mortgage lending and credit access for noncitizens.

“Credit decisions should be based on a borrower’s actual ability to repay, not hypotheticals based on the borrower’s immigration status,” Jesse Van Tol, president and CEO of the National Community Reinvestment Coalition (NCRC), said in a statement. “Access to credit expands opportunity for families, entrepreneurs and communities. Policies that encourage lenders to consider immigration status risk excluding qualified borrowers from the financial mainstream.

“The hypocrisy of discouraging lending to hard-working immigrants who pay taxes, while claiming that banks improperly ‘debanked’ some wealthy people based on their highly risky, often international, crypto transactions should be lost on no one,” Van Tol added. “Favoring one while denigrating the other makes clear that this policy is not about risk: it’s about picking winners and losers.”

Richard Horn, co-managing partner at Garris Horn and a former senior counsel and special adviser in the CFPB’s Office of Regulations, told HousingWire that he’s had clients experience higher levels of defaults and property abandonments due to deportations.

“Of course, this represents a huge change from the previous Democrat administrations that thought any inquiry about immigration status was discriminatory,” Horn said. “But in reality, this is common sense compliance if a consumer is potentially subject to deportation, because then that income could disappear. … It’s protecting investors from these very risky loans.”

Horn added that the risk for lenders is that the policy statement makes this an obligation in certain situations.

“This creates compliance risks, especially because, as the policy statement points out, immigration is a very complex and changing area,” he said. “Just take DACA for example — which is a mushy, amorphous status. I think lenders will need to talk to their counsel about how to implement this.”

Elena Babinecz, a partner at Baker Donelson and former manager of the CFPB’s ECOA rulemakings and guidance, pointed to language used by the bureau in its guidance.

The guidance reads: “Indications that an individual may not be lawfully present, and therefore may be at risk of removal, may come from various sources, including direct inquiry or the consumer’s reliance on atypical identification methods, such as an Individual Taxpayer Identification Number (ITIN), typically issued to taxpayers to individuals who lack proof of legal residency.”

“What they’re saying is, ‘Hey, this is a red flag for the CFPB. If you’re using a consumer’s ITIN as proof of their residency, you’re going to violate TILA,’” Babinecz said. “This statement is clearly a signal to industry that when a consumer’s ability to repay a loan or line of credit could change in the future on account of immigration status, then you’re under a legal obligation, in the view of the CFPB, to consider that information.”

Babinecz said that the guidance, while not an order that changes law, indicates that as the agency moves forward in its supervisory work and in potential enforcement matters, it will be extra vigilant about a borrower’s immigration status.

“They’re going to want documentation shown to them from the lender that you made sure that you verified, with appropriate information, whether this consumer is lawfully present or not,” she said.

For lenders, Babinecz says this is a sign to be alert about what the agency is evaluating. “I think what lenders are now going to be figuring out is, with our current practices, policies and procedures, are they good enough to comply with this new statement?”

This post was originally published on here.

The IDF says it is preparing for several more days of fighting with Iran and is also ready for the possibility of a broader, prolonged conflict.

Since last night, Iran has launched at least 20 ballistic missiles toward Israel. According to the military, the missiles were either intercepted or landed in open areas. Iran-backed Houthi forces in Yemen also fired two ballistic missiles at Israel this morning, with one intercepted and the other failing to reach Israeli territory.

TEL AVIV, ISRAEL – JUNE 16: Iran’s ongoing retaliatory attacks with ballistic missiles towards Israel are seen from Tel Aviv, Israel on June 16, 2025. (Photo by Mostafa Alkharouf/Anadolu via Getty Images)

In response, Israel has carried out two waves of strikes inside Iran. Overnight, dozens of Israeli Air Force fighter jets targeted nine Iranian air defense systems across western and central Iran. Earlier today, additional strikes hit three factories within a petrochemical complex in southwestern Iran.

The IDF says the operations are being conducted solely by Israel, but with full coordination with U.S. Central Command. American forces have also assisted in intercepting Iranian missiles aimed at Israel.

Meanwhile, IDF Chief of Staff Lt. Gen. Eyal Zamir has held three conversations with CENTCOM Commander Adm. Brad Cooper as both militaries continue close coordination.

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The IDF assesses that the current exchange of attacks with Iran is likely to continue for at least several more days, Army Radio reported on Monday morning.

According to the report, the IDF is preparing for a broad reserve call-up and is expected to mobilize several reserve battalions, alongside reinforcing forces along the borders, mainly along the seam line in Yehuda and Shomron and on the Jordan border.

The Home Front Command also launched a broad reserve mobilization on Monday morning. Rescue and recovery units are being called up and are preparing to respond rapidly to potential impact sites across the country if required.

The IDF believes that the Iranian axis is trying to impose new equations regarding the rules of engagement in their battle with Israel. Defense officials noted that similar efforts have been seen in the past, including attempts by Palestinian Islamic Jihad to create deterrence equations through rocket fire from Gaza following arrests of its terrorists in Jenin. They emphasized that Israel’s experience has shown that restraint in such situations can carry significant risks.

According to the report, the strike the IDF carried out this morning in Iran against the petrochemical plant carries a dual message. On the one hand, Israel is still limiting its actions, and on the other hand, it is signaling that it is prepared to strike Iran’s energy and oil infrastructure.

(YWN Israel Desk—Jerusalem)

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Colombian President Gustavo Petro accused Israel and the US of bringing political manipulation from “free Palestine” to “free Latin America,” drawing a sharp rebuke from Israel’s Ambassador to the United Nations Danny Danon on Monday.

Petro made the claim while denouncing a billboard campaign against left-wing Colombian politician Iván Cepeda, which he described as criminal and compared to Nazi propaganda tactics.

“Ni Rubio se atrevió a decir esto,” Petro wrote in Spanish, meaning “Not even Rubio dared to say this,” in an apparent reference to US Secretary of State Marco Rubio.

Petro said the billboard was “a crime,” while accusing Colombian electoral and legal authorities of failing to act. In the same post, he appeared to connect the campaign to Israel and the US, writing that those behind such tactics had acted in “free Palestine” and were now planning to do the same in “free Latin America.”

Danon fires back at Petro

Danon responded directly to Petro on X/Twitter.

“President of Colombia, @petrogustavo, whatever is going on in your personal life, there are lines that must never be crossed,” Danon wrote.

Danon, who returned to the UN post in 2024 after previously serving as Israel’s ambassador to the world body from 2015 to 2020, has often used social media to respond to international criticism of Israel.

President of Colombia, @petrogustavo, whatever is going on in your personal life, there are lines that must never be crossed. Using Nazi slogans is a disgraceful low from which there is no coming back.

I hope you come to your senses and apologize before this Wednesday, when you… https://t.co/AfRgM9HQYh

— Danny Danon 🇮🇱 דני דנון (@dannydanon) June 8, 2026

Petro’s record of clashes with Israel

Petro has been one of Israel’s fiercest critics in Latin America since the October 7 massacre and the start of the Israel-Hamas war.

In May 2024, Colombia broke diplomatic relations with Israel, after Petro accused Israel of committing genocide in Gaza. Israel rejected the accusation and accused Petro of rewarding Hamas.

Petro has repeatedly escalated his rhetoric against Israel. In January 2025, he claimed that Zionism was supported by international financial capital, comments critics said echoed classic antisemitic tropes.

In August 2025, a report revealed that Petro had signed a little-known presidential directive institutionalizing support for Palestine across the Colombian state.

In September 2025, Petro’s US visa was revoked after he joined a pro-Palestinian demonstration in New York and called on US soldiers to disobey orders. Days later, he announced that Colombia would expel Israeli diplomats after Israel intercepted the Global Sumud Flotilla.

The latest exchange added a new layer to the long-running diplomatic feud. Petro was responding to a Colombian political controversy, but his post quickly expanded the dispute into an attack involving Israel, the US, Nazi propaganda, Palestine, and Latin America.

JERUSALEM (VINnews)  — Despite the  cancellation by the Home Front of all educational activities in Israel, Rabbi Moshe Hillel Hirsch, the Rosh Yeshiva of Slabodka, has instructed Talmudei Torah and chadarim that classes may be held in locations that have protected spaces (bomb shelters or reinforced safe rooms).

The directive, published on Monday morning, was issued after considering both the spiritual and physical implications of the missile threat and the danger involved in interrupting the Torah study of young children, whose pure speech, according to Jewish tradition, helps sustain the world.

According to the rabbi’s ruling, any Talmud Torah that has compliant protected spaces may continue operating without changes. In light of this instruction, parents are advised to check with their sons’ Talmud Torah to see whether it has decided to open and continue classes despite the directives of the Home Front Command and the Ministry of Education.

A similar ruling was issued by Rabbi Dov Landau during the “Rising Lion” war in June 2025.

The central bank this week is set to become the first of its peers to tighten policy as a consequence of the Middle East conflict, and most economists expect the ECB to raise its key rate twice.

Here is the puzzle: the Strait of Hormuz is shut, oil supply is tight, and prices are high — yet China, the world’s largest oil importer and Iran’s biggest customer, is buying less, not more. The reason is not mainly a sinking economy. It is that the war itself has made oil too expensive for Chinese buyers to use. In its monthly Oil Market Report released in May 2026, the International Energy Agency (IEA) said Chinese oil consumption is set to fall by 290,000 barrels per day this quarter, as soaring fuel prices choke off driving and a slump in the petrochemical sector deepens. Chinese pump prices for gasoline and diesel have jumped roughly 30% since the conflict began, sitting near all-time highs — and when fuel costs that much, people drive less and factories pull back.

That collapse in demand is now showing up in what Iran can charge. By Thursday, June 4, physical-market trade sources said Iranian Light crude was being offered at $0.50 to $1 per barrel below ICE Brent for June delivery into Shandong province, the eastern hub where most of China’s small private refiners operate. It was the first discount in two months. In April and May, the same grade had sold at premiums of $1 to $2 per barrel above the benchmark, back when buyers were scrambling for every barrel.

The refiners caught in the middle are the small independents known in the trade as teapots. They earn their living on the gap between what they pay for crude and what they get for the fuel they sell. With crude costs high from the war and Chinese fuel demand weak, that gap has gone negative for many of them. They now lose money on each extra barrel they process, so they have simply stopped buying.

Beijing made that retreat official. The National Development and Reform Commission, China’s state economic planner, issued notices in early June telling some money-losing refiners they may cut fuel output this month, as long as production stays at or above 80% of last year’s monthly average, trade sources and consultancies reported on Tuesday, June 2. For most of the spring, the same planner had pushed refiners to run flat-out to guarantee domestic supply during the war. Now it is letting them slow down because the country’s crude and fuel stockpiles are already comfortably high.

There is also a deeper, longer-running shift underneath the war. China’s appetite for road fuel has essentially peaked. Electric cars and LNG-powered trucks are replacing gasoline and diesel vehicles at scale, and the IEA expects total Chinese oil demand to grow just 50,000 barrels per day in 2026, down sharply from 220,000 the year before. So even before the conflict, the long-term demand engine was cooling.

Russia is feeling the same chill. The premium on ESPO, the most popular Russian grade among Chinese teapots, has slipped to $3 to $4 per barrel above ICE Brent for June delivery, down from $4 to $5 in May. Both Iran and Russia depend on Chinese teapots as buyers of last resort, since U.S. sanctions have shut them out of most other markets. When Chinese demand softens even a little, the two sanctioned exporters have nowhere else to send the oil, so they cut prices to move it.

That hands Beijing real leverage. China takes upward of 90% of Iran’s crude exports and imported close to 1.4 million barrels per day of Iranian oil in 2025. As the last large buyer of sanctioned barrels, it increasingly sets the price — and right now it is choosing to wait.

The business takeaway reaches well beyond Asia. China is the engine of global oil demand, and when that engine eases off, it is one of the few forces strong enough to cool prices at a moment when war headlines keep pushing them up. For American drivers and businesses that have watched pump prices and shipping costs stay high all spring, weaker Chinese buying works in the other direction, putting a quiet ceiling on how far oil can climb.

For Tehran, the discount stacks a revenue problem on top of a sanctions problem. Oil sales to China fund a large share of the Iranian government’s budget, and every dollar shaved off the price is money the regime never collects.

JBizNews Desk

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Israeli Ambassador to the United States Yechiel Leiter delivered a forceful warning following Iran’s latest missile barrage against Israel, declaring that no sovereign nation would accept such an attack without responding.

“Iran fired 11 ballistic missiles at Israel today,” Leiter said. “Each one of those missiles has the potential to level an entire neighborhood and kill hundreds of people. No self-respecting country in the world would tolerate such an assault, and neither will Israel.”

According to Leiter, Israel is now striking Iranian surface-to-surface missile launch sites as well as additional strategic infrastructure targets.

The ambassador also issued a direct warning to Hezbollah, noting that the Lebanese people have increasingly rejected Iran’s influence and its proxy in their country.

“The people of Lebanon have told Iran and Hezbollah to get out,” Leiter said. “If Hezbollah chooses to open another front against Israel, its command centers in Beirut’s Dahiya district will be hit hard.”

Leiter concluded by stressing that the conflict is not with the Iranian people, but with what he described as a dangerous regime that continues to destabilize the region.

“Everyone has had enough of this maniacal Iranian regime,” he said.

Extremist elements within the Eidah HaChareidis are reportedly considering holding a so-called “Pulsa Denura” ceremony targeting Attorney General Gali Baharav-Miara, according to a report published by Yisroel Hayom.

The report states that the initiative is being discussed by members of the same extremist group that was involved in last week’s violent demonstration outside the home of Supreme Court Deputy President Noam Sohlberg.

According to sources cited in the report, the plan has not yet received final approval and remains contingent on authorization from rabbinic leaders. One source within the Eidah HaChareidis reportedly said that any such step would require formal rabbinic consent, but added, “It’s not far from that at all.”

The ceremony being discussed is known as a “Pulsa Denura,” a controversial and highly publicized ritual that has occasionally been invoked by fringe groups in Israel. It is traditionally described as a mystical curse ceremony intended to bring divine punishment upon an individual. Such ceremonies are generally rejected by mainstream rabbinic authorities and are not part of normative Jewish practice.

The report comes just days after extremists vandalized the home of Justice Sohlberg in the community of Alon Shvut. During the disturbance, rioters damaged property, including smashing the windows of the justice’s vehicle and destroying flower pots outside his residence. Dozens of suspects were subsequently arrested.

Meanwhile, Israel’s judicial system staged solidarity gatherings Sunday morning in response to the attack on Sohlberg’s home.

Speaking on behalf of Israel’s judges, Judge Yaron Levy declared, “The Judges Association expresses its full support and solidarity with Justice Sohlberg and his family and calls on all branches of government, the law enforcement system, and Israeli society to unequivocally condemn any attempt to harm judges or subject them to pressure, threats, or intimidation because of their role. We cannot accept a situation in which public or political disagreements are translated into attacks against judges.”

Members of the State Attorneys Organization, which represents more than 1,100 prosecutors and government attorneys, also gathered outside courthouses across the country in a show of support for Sohlberg and the rule of law.

“At this hour, we will all leave the courtrooms and stand outside the courthouse in solidarity and support of the judicial system and the rule of law,” said attorney Orit Korin, chairwoman of the organization. “Under no circumstances can violence against judges or legal professionals be tolerated because of any public dispute.”

{Matzav.com}

Shas chairman Aryeh Deri has delivered a blunt message to coalition leaders: if the proposed Basic Law: Torah Study is not advanced this Wednesday, no other legislation will move forward.

The ultimatum comes after renewed pressure from chareidi parties to advance the bill, which has remained stalled for an extended period despite repeated calls for action.

Deri was the first to publicly demand movement on the legislation following last week’s Shas faction meeting. Only after his intervention did other chareidi parties begin actively promoting the measure, which is formally registered under the name of Degel HaTorah. Even within the Litvish faction, there had been uncertainty last week over whether to push the legislation at all.

According to Shas officials, Deri considers passage of the Basic Law: Torah Study an urgent priority and is less concerned with which party receives political credit for the initiative. Party leaders also stressed that no one in Shas requested the postponement of the Ministerial Committee for Legislation meeting, which was expected to discuss the proposal.

Degel HaTorah chairman MK Moshe Gafni said Sunday evening that the bill had been placed on the agenda of the Ministerial Committee for Legislation.

“Basic Law: Torah Study has been placed on the agenda of the Ministerial Committee for Legislation. At the direction of our revered Torah leaders, I was instructed to submit and advance this legislation,” Gafni said.

Gafni also expressed frustration that the committee had not yet convened.

“To my great surprise, the committee has still not met today,” he said. “I demand that it be convened immediately so that the bill can be brought before the Knesset plenum on Wednesday for its preliminary reading.”

Meanwhile, MK Yinon Azoulay has submitted a similar proposal. However, due to concerns raised by the Knesset’s legal advisers, it remains unclear whether his version of the legislation will be ready for a vote as early as Wednesday.

Despite the growing pressure from the chareidi parties, a senior Likud official told Kikar HaShabbat on Sunday that there is significant doubt whether the current coalition has the votes necessary to pass the measure.

“There is serious doubt that the current coalition can secure a majority for the Basic Law: Torah Study,” the official said.

The assessment raises questions about whether the legislation can clear even its first hurdle if it reaches the Knesset floor.

As previously reported, earlier Sunday, Deri visited Prison 10, where several yeshiva bochurim are being held over military draft-related issues. During the visit, he pledged to continue fighting for passage of the Basic Law: Torah Study and sharply criticized the treatment of Torah learners.

“From here we cry out: Stop treating Torah learners like criminals,” Deri declared.

{Matzav.com}

Costco has quietly lowered prices on several popular Kirkland Signature items, including products shoppers had previously flagged online as increasingly expensive.

During the company’s most recent earnings call on May 28, executives said the price cuts impacted at least four of its key private-label items, marking a potential relief for consumers as inflation has remained elevated in recent years. 

The affected products saw price reductions ranging from roughly $1 to $10 across categories spanning food, home goods and sporting equipment, CFO Gary Millerchip said during the third-quarter 2026 call.

The KS Crispy Wings fell from $16.99 to $14.99. KS Milk Chocolate Almonds dropped from $19.99 to $18.99. KS Golf Balls declined from $32.99 to $29.99, while KS King Size Sheets were reduced from $89.99 to $79.99.

COSTCO REVEALS KIRKLAND SIGNATURE ITEM PRICE CUTS

The wholesale warehouse said the decision was aimed at offering members maximum value while continuing to undercut competitors, as part of its broader pricing strategy.

“Our goal is to be the first to lower prices and last to raise them,” CEO Ron Vachris said. 

Millerchip reinforced that approach, adding: “Our goal is to be the first to lower prices where we see opportunities to do so.”

According to social media users, shoppers who have long favored Kirkland’s chocolate-covered almonds said the item has become noticeably more expensive over the years in both the U.S. and Canada.

“They’ve become too expensive,” one U.S. shopper wrote on Reddit a year ago.

“I love the Kirkland brand 1.5 kg chocolate covered almonds,” another Costco shopper in Canada said a year ago. “They used to be $17 then they went to $20. Now they are $27!! “

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Costco Wholesale did not specify what prompted the latest price cuts, but the move follows a previous instance over a year ago when the retailer voluntarily lowered prices on select Kirkland Signature products.

In 2024, the price of KS macadamia nuts fell from $18.99 to $13.99, Spanish olive oil 3-liter from $38.99 to $34.99, standard foil from $31.99 to $29.99, laundry packs from $19.99 to $18.99, and the baguette two-pack from $5.99 to $4.99, Millerchip previously said.

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Millerchip added that KS boneless chicken tenders also fell by 13%, resulting in a 21% increase in pounds sold.

“Kirkland Signature offers significant member value compared to the national brands and continues to grow at a faster pace than our business as a whole,” Millerchip said. 

Fox News Digital’s Greg Norman contributed to this report.

The week beginning Monday, June 8, 2026, could shape everything from interest rates and grocery bills to technology stocks and the future of space investing. Investors will be watching fresh inflation data, Apple’s Worldwide Developers Conference (WWDC), earnings from major artificial intelligence players, and the long-awaited public debut of Elon Musk’s SpaceX.

The week did not wait for Monday’s opening bell to get complicated. On Sunday night, June 7, U.S. stock futures fell after Israel’s military said Iran had fired missiles at it following escalating tensions in the region. Within hours, Asian markets opened sharply lower, led by a stunning selloff in South Korea.

The U.S. move itself was modest. Futures tied to the Dow Jones Industrial Average slipped about 80 points, or 0.2%, with S&P 500 and Nasdaq 100 futures each down roughly 0.2%. But overseas the reaction was more severe.

The benchmark Kospi in South Korea plunged about 8.4% at the open and briefly triggered a trading halt. While Middle East tensions added pressure, much of the selloff stemmed from weakness in semiconductor stocks. Broadcom’s latest outlook for its artificial-intelligence business disappointed investors, sending shockwaves through chip shares globally. Samsung Electronics and SK Hynix, which together account for a significant share of South Korea’s stock market value, both fell sharply.

Two domestic factors deepened the decline. Korean investors entered the week with margin debt near record levels, forcing automatic selling as prices fell. At the same time, Friday’s stronger-than-expected U.S. jobs report fueled expectations that the Federal Reserve could consider higher rates rather than lower ones. A weakening Korean won accelerated foreign outflows and intensified selling pressure.

Elsewhere, Japan’s Nikkei 225 fell more than 2%, while Hong Kong futures pointed lower. Traders will be closely watching oil prices after the latest developments between Israel and Iran, particularly any impact on shipping through the Strait of Hormuz, a critical route for global energy supplies.

For businesses and consumers alike, the biggest question this week remains whether inflation is finally cooling—or heating up again.

The U.S. Bureau of Labor Statistics is scheduled to release the Consumer Price Index (CPI) on Wednesday, June 10, at 8:30 a.m. Eastern, followed by the Producer Price Index (PPI) on Thursday. The reports arrive less than a week before the Federal Reserve’s June 16–17 meeting, where policymakers will decide whether interest rates remain unchanged.

The April CPI report showed prices rising 3.8% year-over-year, near the highest level in three years. Rising energy prices and ongoing disruptions tied to the conflict involving Iran have kept pressure on fuel costs, transportation, and consumer prices.

For households, the numbers matter because inflation directly affects everything from groceries and gasoline to mortgage rates and credit-card interest.

For businesses, the reports may influence borrowing costs, hiring decisions, and expansion plans heading into the second half of the year.

Markets enter the week on shaky footing.

The Nasdaq Composite suffered its worst daily decline in more than a year on Friday, June 5, led by a sharp selloff in semiconductor stocks. The drop came just one day after the Dow Jones Industrial Average closed at a record high above 51,500.

Jeremy Siegel, professor emeritus of finance at the Wharton School, said recent volatility suggests investors remain nervous about valuations and future Federal Reserve policy.

While inflation dominates the economic calendar, the week’s biggest corporate event belongs to Apple.

The company’s annual Worldwide Developers Conference (WWDC) opens Monday with a keynote presentation from Chief Executive Officer Tim Cook. The event carries unusual significance because it is expected to be Cook’s final WWDC keynote before leadership transitions to John Ternus later this year.

Apple is widely expected to unveil major artificial intelligence upgrades, including a rebuilt version of Siri, expanded AI features integrated throughout its ecosystem, and the introduction of iOS 27. The pressure on Apple is amplified by repeated delays to its next-generation Siri platform, first announced in 2024 but postponed several times since. Monday’s keynote is expected to be Apple’s clearest attempt yet to convince investors it can compete aggressively in the AI race.

Wall Street expectations are exceptionally high.

Apple shares surged roughly 15% during May and recently traded near record highs, valuing the company at approximately $4.6 trillion.

Dan Ives of Wedbush Securities maintained an Outperform rating and a $400 price target, calling the event a potential turning point for Apple’s AI strategy.

Erik Woodring of Morgan Stanley described WWDC as Apple’s most important catalyst of the year and outlined a bullish scenario approaching $440 per share.

Bank of America recently raised its target to $380, Evercore ISI lifted its forecast to $365, while Goldman Sachs remains positive with a target of $340.

Not everyone is convinced. UBS maintained a Neutral rating with a $296 target, reflecting concerns that investor expectations may have gotten ahead of reality.

The broader AI sector also faces a critical test this week.

Oracle reports earnings Wednesday after markets close.

Analysts expect earnings of approximately $1.96 per share on revenue near $19.1 billion. Under CEO Safra Catz, Oracle has transformed itself into a major supplier of cloud infrastructure supporting artificial intelligence applications.

The company has benefited from a wave of AI-related demand, with shares climbing more than 40% over the past three months.

Adobe follows Thursday.

Investors will be watching closely to determine whether the company’s AI-powered products are successfully converting users into paying customers. Adobe reported stronger-than-expected results last quarter, posting earnings of $6.06 per share and revenue of $6.4 billion, up 12% from the prior year.

Several well-known consumer-facing companies also report results this week.

Campbell’s and Vail Resorts report Monday.

Tuesday brings results from United Natural Foods, J.M. Smucker, Academy Sports & Outdoors, Casey’s General Stores, and Cracker Barrel.

Wednesday features earnings from Chewy, Core & Main, and Stitch Fix.

Thursday concludes with results from homebuilder Lennar, providing another snapshot of the housing market.

Meanwhile, Marvell Technology and Flex are scheduled to join the S&P 500 Index, replacing Pool Corporation and Campbell’s.

On the industrial front, Honeywell International will host an investor update Monday as it advances plans to separate portions of its business. Investors will be looking for revised sales forecasts, profit targets, and details regarding the company’s restructuring efforts.

The week’s most anticipated market event, however, arrives Friday.

SpaceX is expected to begin trading on the Nasdaq under the ticker SPCX following pricing Thursday evening.

The offering is targeting a valuation of approximately $1.75 trillion, potentially making it the largest initial public offering in history.

At that valuation, SpaceX would be worth more than Elon Musk’s electric-vehicle company Tesla, which currently trades near a $1.6 trillion market value. Following the offering, Musk is expected to retain approximately 82% of the company’s voting power, preserving firm control over the business despite its public listing.

The deal is being led by a syndicate of major banks including Morgan Stanley, Goldman Sachs, JPMorgan Chase, Bank of America, and Citigroup.

Much of the excitement centers on Starlink, SpaceX’s satellite internet business, which has grown into one of the world’s largest communications networks with more than 10 million customers.

While Starlink turned profitable last year, SpaceX as a whole reported a $4.9 billion loss in 2025 despite generating approximately $18.7 billion in revenue, reflecting continued heavy investment in launch systems, satellites, and future exploration programs.

If the offering prices as expected, Elon Musk is projected to become the world’s first trillionaire on paper. Unusually for a deal of this size, retail investors are expected to have access through platforms including Schwab, Fidelity, and Robinhood.

History suggests investors should expect significant volatility.

Highly anticipated technology IPOs often experience sharp first-day gains followed by equally dramatic swings in the weeks that follow.

Taken together, the coming week will offer a powerful snapshot of where the economy is headed.

Inflation reports will help determine whether consumers and businesses can expect relief from rising prices. Apple’s keynote will reveal whether one of the world’s most valuable companies can meet growing expectations in artificial intelligence. And SpaceX’s debut will test investor appetite for one of the most ambitious growth stories of the modern era.

By Friday’s closing bell, Wall Street—and Main Street—may have a much clearer picture of what lies ahead for the summer economy.

JBizNews Desk — Markets

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The proposed $2.245 billion acquisition of Maimonides Medical Center by NYC Health + Hospitals has hit another wall, and the Orthodox Jewish community groups that have been fighting the deal from the start say the delay is welcome news – even as they warn the underlying threat has not gone away.

State health officials rejected Maimonides’ latest filing this week for failing to include a required Health Equity Impact Assessment, preventing the transaction from appearing on the June 10 agenda of the key state review committee. The next committee meeting is not scheduled until late August, pushing the already long-delayed deal further into uncertainty.

The transaction was originally set to close April 1. The setback follows an Albany Supreme Court ruling last month that overturned an earlier state approval of the deal, finding that the Department of Health had improperly allowed it to advance without full review by the Public Health and Health Planning Council. The hospital also faces separate legal challenges from board trustees over the transfer of nonprofit assets.

For the frum community, the delays have provided breathing room in what advocates describe as an urgent fight for the neighborhood’s healthcare future. Since the takeover was announced, a coalition of community leaders has waged a vigorous campaign against it – including members of the Maimonides Board of Trustees, Hatzalah leadership, and patient advocacy organizations such as Refuah Helpline.

Several have filed as plaintiffs in litigation challenging the deal.

Their core argument is that Maimonides, despite its financial struggles, has been transformed over the past decade into a genuinely community-responsive institution – and that a takeover by a large city-run system would undo that progress in ways that cannot be reversed.

Hatzalah leadership has been particularly outspoken, warning that if Maimonides deteriorates to the level of other city hospitals, the organization would have no choice but to bypass it entirely, even for emergencies – forcing patients to travel farther for care and costing precious time. The concern is not hypothetical: Hatzalah already avoids Woodhull Hospital in Williamsburg, a city facility located just blocks from a large frum population.

Patient referral advocates have raised equally stark concerns about what a city takeover would mean in practice. Over decades of working with patients across the system, they have documented a consistent pattern at city hospitals: nurses stretched too thin, workups left incomplete at discharge, records not properly filed, imaging impossible to obtain in time for treatment. Patients who arrive at Maimonides after being treated at a city facility – brought by EMS rather than Hatzalah following a trauma – regularly arrive with wounds inadequately treated and care left unfinished. Advocates warn the same would happen to Maimonides patients if the merger goes through.

The Jewish community’s particular needs – Shabbos and Yom Tov access for families, halachic sensitivity in examinations and end-of-life care, gender-appropriate treatment, and the ability of families to remain at a patient’s bedside around the clock – are seen as especially vulnerable under city management.

Advocates point to the takeover of Henry Carter LTCH roughly a decade ago as a cautionary tale: city officials made identical promises of cultural continuity at that time, and today the facility is effectively unused by the Orthodox community.
Supporters of the acquisition argue that joining NYC Health + Hospitals would stabilize Maimonides financially and preserve its safety-net role for a patient population that is heavily reliant on Medicare and Medicaid. The hospital serves not only the Orthodox Jewish community but a wide range of Brooklyn residents, and operates key pediatric, NICU, and trauma services.

But opponents say financial stabilization cannot come at the cost of the institutional trust that has taken years to build. Maimonides now delivers thousands of babies from the community annually – something that was unthinkable a generation ago, when families routinely traveled to other hospitals. That trust, advocates warn, could evaporate quickly and would not easily return. With the deal now stalled at least through the summer, the community’s fight to find an alternative path forward continues.